BATON ROUGE, La. (AP) — Red River Bancshares Inc. in Alexandria says it has received all necessary shareholder and regulatory approval for the acquisition of Fidelity Bancorp Inc., the holding company of Fidelity Bank of Baton Rouge.
The Advocate reports (http://bit.ly/15Ylm0W ) the merger, effective Monday, will make Red River Bank the seventh-largest community bank in Louisiana with about $1.3 billion in assets.
Red River Bank will have a network of 20 banking centers and 27 ATMs in six parishes, spanning from Shreveport to Baton Rouge.
"The merger of Red River Bank and Fidelity Bank creates a partnership that will not only expand the branch network throughout the state, but will combine financial resources, knowledge and expertise to help all Red River Bank and Fidelity Bank customers," Red River Bank President and CEO Blake Chatelain said in a statement.
Fidelity had $126 million in assets, with about 50 employees at five branches in the Baton Rouge area.
Joanie Netterville will serve as the Baton Rouge market president of Red River Bank.
Red River Bank was chartered in 1998 in Rapides Parish and began operating its first banking center in Alexandria in 1999 under holding company Red River Bancshares Inc.
Red River expanded into the Shreveport/Bossier City area in 2006 and operates six banking centers there and nine banking centers in central Louisiana.
Information from: The Advocate, http://theadvocate.com