Home Federal Savings and Loan and First Louisiana Bank combine
Home Federal Savings and Loan, one of Shreveport’s oldest financial institutions (in operation since 1924), and First Louisiana Bank, one of Shreveport’s newest, have agreed to combine.
According to a news release from Ron Boudreaux, of First Louisiana Bank, the resulting bank, retaining the name First Louisiana Bank, will have combined assets of more than $250 million and six offices in Caddo and Bossier parishes.
Both banks will operate independently until the close of this transaction, which is expected to occur late in the second quarter of 2008.
Daniel R. Herndon will serve as chairman of the board of the newly created holding company and the bank and chief executive officer of the holding company.
Boudreaux will become president and chief operating officer of the holding company and president and chief executive officer of the bank. He will also serve as a director of both the holding company and the bank.
In addition, David L. Winkler will serve as vice chairman of both the holding company and the bank.
Together, the banks employ 62 people, and Herndon said the expansion opportunities will likely increase the number of employees.
This transaction is subject to certain conditions, including regulatory approval as well as the approval of the respective shareholders.
All of the directors have agreed to the merger.
