Teche Bank part of $300M merger

Breaux Bridge — James B. Bulliard Sr., chairman of the board, and the directors of Teche Bank & Trust Co., have announced that Teche Bank’s parent company, Louisiana Community Bancshares, Inc., and Kaplan State Bank entered into a “merger of equals” with City Savings Bancshares, Inc., parent company of City Savings Bank, effective Jan. 1. The combined companies will have total assets in excess of $300 million.

“The merger is in keeping with the company’s strategy to maintain a local focus on its customers while at the same time geographically diversifying the markets served,” reads a Teche Bank & Trust news release.

“The combination of City Savings Bancshares with Louisiana Community

Bancshares, Inc., will further strengthen the financial position of Teche Bank & Trust Co. and will allow the bank to explore new avenues of service to its customers.”

City Savings Bancshares operates as City Savings Bank with seven locations serving the southwestern region of the state. The bank is headquartered in DeRidder and has assets of approximately $155 million.

Louisiana Community Bancshares is the parent company of Teche Bank & Trust in St. Martinville and Kaplan State Bank in Kaplan. The combined total assets is approximately $150 million.

Each of the local banks maintains a board of directors consisting of members of their respective communities which has representation on the holding company’s board.