Origin Bancorp closes $313m acquisition of Texas-based BT Holdings
Origin Bancorp, the holding company for Louisiana-based Origin Bank, has closed the previously announced $313.5 million worth acquisition of BT Holdings, the holding company for Texas-based BTH Bank.
The all-stock deal between the two bank holding companies was announced in February 2022.
Drake Mills — Origin Bancorp Chairman, President, and CEO said: “We are excited to have completed the merger with BTH, giving us a strong presence in East Texas and bolstering our Dallas and Fort Worth markets.
“BTH and Origin have remained committed to local decision-making and meeting the needs of our customers and communities. That dedication and commitment will only grow stronger as we move forward together.”
Following the closing of the deal, the enlarged Origin Bancorp has taken its assets under management to around $9.78 billion, loans to $6.68 billion, and deposits to $7.98 billion.
Until their merger, Origin Bank and BTH Bank will be operating as separate banking subsidiaries of Origin Bancorp. The merger of the two banks is expected to concurrently complete with the conversion of data processing early in the fourth quarter of 2022.