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Started By
Message
Another LA bank acquired out of state
Posted on 10/3/21 at 5:57 pm
Posted on 10/3/21 at 5:57 pm
Ridgeland, MS based Bankplus have acquired First Bank and Trust. FB&T are HQ'd on Poydras in DT New Orleans but operations will consolidate in suburban Jackson. It'll give Bankplus a major foothold in the New Orleans market now which they did not previously have and also gets them into some new markets in Lafayette, Biloxi and also their first FL location in Destin.
The MS banking sector is well over double the size of LA's. First Bank and Trust were the 10th largest bank in Louisiana despite only having 14 branches. This would put Bankplus up at 94 locations when the deal closes in 2022.
Its not quite Iberia, but its another economic loss for the State.
The MS banking sector is well over double the size of LA's. First Bank and Trust were the 10th largest bank in Louisiana despite only having 14 branches. This would put Bankplus up at 94 locations when the deal closes in 2022.
Its not quite Iberia, but its another economic loss for the State.
This post was edited on 10/3/21 at 6:00 pm
8
Posted on 10/3/21 at 5:58 pm to Rusty Irish
quote:
First Bank
Not first anymore are they
Posted on 10/3/21 at 6:03 pm to Rusty Irish
quote:
Its not quite Iberia
It's the new Iberia.
Posted on 10/3/21 at 6:05 pm to Rusty Irish
Regulations on banks make it get acquired or be the buyer...only other option is stay tiny...midsized community banks can't survive
Posted on 10/3/21 at 6:11 pm to USMEagles
quote:
It's the new Iberia.
Hopefully I don't take a haircut on the merger.
Posted on 10/3/21 at 6:56 pm to Rusty Irish
The lights on Poydras are all flashing 5 weeks after the storm.
Posted on 10/3/21 at 6:56 pm to Rusty Irish
quote:
Its not quite Iberia, but its another economic loss for the State.
It's pretty safe to say Mississippi has put the moves in to solidly put Louisiana as the absolute, undeniable "50th in everything" place.
With JBE, the Destroya, and Sharon Weston DOOM in as the trifecta, you can't tell me South Louisiana isn't sprinting to some kind of Mad Max hellscape.
If I'm North LA, it's time to petition Texas for that long put off succession into their borders.
Posted on 10/3/21 at 6:56 pm to Bestbank Tiger
It's funny how we mock MS but their corporate environment pisses on ours. Has JBE had any positive economic stories during his reign?
Posted on 10/3/21 at 7:01 pm to Rusty Irish
quote:
It'll give Bankplus a major foothold in the New Orleans market
Bankplus will be mugged within weeks
Posted on 10/3/21 at 7:02 pm to Belle Chasse LSU
quote:
Has JBE had any positive economic stories during his reign?
The only thing the state has going is the Mississippi River and industrial facilities.
Posted on 10/3/21 at 7:07 pm to Belle Chasse LSU
Four largest banks based in Mississippi - Hancock Whitney, BancorpSouth, Trustmark and Renasant all absolutely dwarf anything in Louisiana.
What a pissant of a state we have become. Won't be the last acquisition either as other regional players in MS, AR or TX pick off what's left. The big name national players who aren't already here I can't imagine have any interest in expanding into Louisiana.
First Horizon's focus is on Texas, Florida and the Carolinas from the Iberia/First Tennessee merger. Louisiana isn't even on the radar.
What a pissant of a state we have become. Won't be the last acquisition either as other regional players in MS, AR or TX pick off what's left. The big name national players who aren't already here I can't imagine have any interest in expanding into Louisiana.
First Horizon's focus is on Texas, Florida and the Carolinas from the Iberia/First Tennessee merger. Louisiana isn't even on the radar.
Posted on 10/3/21 at 7:08 pm to MikeD
JBE hasn’t done jack shite for the State but supposedly get them to a surplus. He must be using the surplus to line his buddies’ pockets.
Posted on 10/3/21 at 7:10 pm to Rusty Irish
quote:
Rusty Irish
quote:
1 post
So, you work for either Bankplus or FB&T, right?
Posted on 10/3/21 at 8:13 pm to Belle Chasse LSU
quote:
Has JBE had any positive economic stories during his reign?
Depends on if your business accepts EBT
Posted on 10/3/21 at 8:14 pm to Belle Chasse LSU
quote:
Has JBE had any positive economic stories during his reign?
Have there been any from the last 3 governors?
Posted on 10/3/21 at 8:15 pm to Rusty Irish
Does anyone know what the LA banking laws are that prevent all the major banks from having branches there. I travel all over the US and LA is the only place I can't find a branch of at least one of my three national banks. When we were building our camp we opened a Regions account just to be able to bank locally.
It really isn't an issue now with easy computer/phone banking unless I needed a chunk of cash but it seems weird.
It really isn't an issue now with easy computer/phone banking unless I needed a chunk of cash but it seems weird.
Posted on 10/3/21 at 8:18 pm to Obtuse1
Labor and employment lawsuits
Posted on 10/3/21 at 8:24 pm to MintBerry Crunch
quote:
Labor and employment lawsuits
Hmmm, anything specific?
I always assumed it was actual banking laws but was just too lazy to try to look it up.
Posted on 10/4/21 at 6:13 am to Obtuse1
quote:
Does anyone know what the LA banking laws are that prevent all the major banks from having branches there. I travel all over the US and LA is the only place I can't find a branch of at least one of my three national banks. When we were building our camp we opened a Regions account just to be able to bank locally.
It really isn't an issue now with easy computer/phone banking unless I needed a chunk of cash but it seems weird.
I can't comment on North of the state but is it a surprise that of the 10 largest banks in the US, 8 don't have a presence in South Louisiana? Its as if they have no faith in the economic viability of our state....
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