NEW ORLEANS — Lafayette-based Home Bancorp has completed the $74.5 million acquisition of Louisiana Bancorp Inc., the holding company for Bank of New Orleans.
The New Orleans Advocate reports (http://bit.ly/1Msz5au) the combined company has total assets of about $1.5 billion, $1.2 billion in loans and $1.2 billion in deposits.
Under the deal, Louisiana Bancorp shareholders receive $24.25 per share in cash.
Home Bancorp is the parent company of Home Bank.
Home Bank plans to convert the branch and operating systems of the former Bank of New Orleans locations to those of Home Bank in January.
Information from: The New Orleans Advocate, http://www.neworleansadvocate.com