Investar Bank acquiring First Community

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Associated Press

Posted on January 28, 2013 at 1:02 PM

BATON ROUGE, La. (AP) — Investar Bank plans to acquire the $107 million asset First Community Bank in Hammond.

The Advocate reports (http://bit.ly/WxeGT1) terms of the deal were not disclosed on Monday.

First Community has a location in Hammond and one in Mandeville, which will lift Investar to a total of nine locations in southeast Louisiana and strengthen its presence in the New Orleans area.

Investar already has two branches in Baton Rouge and one each in Denham Springs, Port Allen, Prairieville, Mandeville and Metairie.

Investar, which had total assets of $375 million on Dec. 31, said the First Community acquisition is expected to close in the second quarter following regulators' approval. The bank said no jobs are expected to be eliminated as part of the transaction.

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Information from: The Advocate, http://theadvocate.com

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