Planters in Mississippi to buy Cross Keys Bank in Louisiana

Planters Holding in Indianola, Miss., has agreed to buy BSJ Bancshares in Saint Joseph, La.

The $2 billion-asset Planters did not disclose how much it would pay for the parent of the $598.1 million-asset Cross Keys Bank. The deal is expected to close in the third quarter.

“We look forward to our combined companies continuing to build upon the great community bank franchise Cross Keys has established,” Alan Hargett, Planters’ CEO, said in a press release.

“We view north Louisiana and east Texas as strategic growth markets for our company, and Cross Keys’ strong reputation and commitment to serving its customers makes them the perfect partner to expand our franchise,” Hargett added.

Planters was advised by Performance Trust Capital Partners and Jones Walker. BSJ was advised by Raymond James and Fenimore Kay Harrison.