Regent Capital in Tulsa, Okla., has agreed to buy DLP Bancshares in Starke, Fla.
The $1.8 billion-asset Regent said in a press release that it will pay all stock for the $247 million-asset DLP. The deal is expected to close in the third quarter. The price wasn’t disclosed.
Three DLP Bank directors will join Regent’s board.
DLP “brings a tremendous investor base for future growth capital, a strong core deposit base and a loan mix that increases the diversification of our loan portfolio,” Sean Kouplen, Regent’s chairman and CEO, said in the release. “The central and northeast Florida markets are an excellent complement to our existing rapidly growing markets in Oklahoma, southwest Missouri and north Texas.”
DLP Bancshares was founded by the principals of DLP Capital, a private real estate investment firm.
D.A. Davidson and McAfee & Taft advised Regent. Ballard Spahr advised DLP Bancshares.