Fleur Capital acquisition of Simmesport State Bank to drive community banking expansion

Fleur Capital Corporation is set to acquire Simmesport State Bank in a strategic move to expand its footprint in community banking. The definitive agreement has already been approved by both companies’ boards and is expected to close in the second quarter of 2025, subject to customary regulatory approvals and shareholder consent.

David M. McGuire, CEO of Fleur Capital Corporation, is leading the Fleur Capital acquisition with a wealth of expertise spanning over 37 years in the banking industry. McGuire’s career includes founding and leading Spirit of Texas Bancshares, Inc. and Spirit of Texas Bank. His track record with community banking expansion includes significant mergers and acquisitions, bringing expertise in successfully integrating regional banks into larger portfolios. Reflecting on the Fleur Capital acquisition, McGuire emphasized the importance of Simmesport State Bank’s strong community presence. He affirmed that Fleur Capital is committed to maintaining the bank’s legacy while strengthening its services in the Avoyelles Parish region.

Dr. Henry Moreau, Chairman and CEO of Simmesport State Bank, expressed enthusiasm for the partnership, stating that McGuire’s leadership aligns perfectly with the bank’s long-standing mission. He noted that the Fleur Capital acquisition would continue Simmesport’s focus on providing exceptional service to its loyal customers and shareholders. Moreau also conveyed confidence that the community banking expansion would support sustainable growth, benefiting both Simmesport’s local customers and Fleur Capital’s broader objectives.

Founded in 1956, Simmesport State Bank operates two branches in Louisiana’s Avoyelles Parish. As of September 2024, the bank has approximately $231.5 million in assets, $183.2 million in net loans, and $191.5 million in deposits. This solid financial position, paired with Simmesport’s established reputation, makes the bank an ideal addition to Fleur Capital’s portfolio.

Industry observers view the Fleur Capital acquisition as a strategic opportunity for both firms to enhance their position in the community banking sector. By incorporating Simmesport State Bank into its operations, Fleur Capital is set to expand its footprint and customer base in Louisiana. McGuire’s extensive experience with community banking expansion, which includes managing multiple acquisitions and an initial public offering, is expected to streamline the integration of the two institutions, ensuring continued success.

Hovde Group, LLC, serves as the financial advisor for Fleur Capital, with legal counsel provided by Hunton Andrews Kurth LLP. Simmesport State Bank has retained National Capital, LLC as its financial advisor and Fenimore Kay Harrison LLP as legal counsel.

This Fleur Capital acquisition is a significant step forward in the company’s strategy to expand its reach in community banking, aligning with its mission to foster strong relationships within the communities it serves.