Strategic Insights into Banking & Fintech

Business First sells Louisiana branch and $50M of deposits

Business First Bancshares in Baton Rouge, La., sold a branch.

The $7.9 billion-asset company said in a press release that it sold a location in Kaplan, La., to an unnamed bank for a net capital injection of $3.4 million.

The sale, which closed in early April, included $50.7 million of deposits that landed an 8% purchase premium.

Business First said the sale should lower annual operating costs by $750,000.

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