RACELAND, La. (AP) — The parent companies of Community Bank in Raceland and United Community Bank in Gonzales, which share the same majority ownership, plan to merge.
Under the agreement, officials say United Community Bancshares Inc. is being merged into Community Bancorp of Louisiana Inc. The combined holding company will operate under the name Community Bancorp of Louisiana Inc. and be headquartered in Raceland.
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United will be added to the beginning of the Community Bank name in Raceland, symbolizing the unity of the two banks. Company officials said Monday no other major changes are expected.
The Advocate reports (http://bit.ly/1pDCDFG ) the merger will create a bank holding company with more than $600 million in total assets that serves six south Louisiana parishes.
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Information from: The Advocate, http://theadvocate.com
