Posted: Nov 15, 2012 2:24 PM
Updated: Nov 15, 2012 2:24 PM
Source: Associated Press
ALEXANDRIA - Red River Bank of Alexandria is buying Fidelity Bank of Baton Rouge.
Red River Bank President and CEO Blake Chatelaine says the purchase price is private and confidential.
Holding firm Red River Bancshares Inc. said in a news release Thursday that its merger with Fidelity Bancorp Inc. should be completed in the first quarter of 2013 if federal regulators approve.
Red River says it is the seventh-largest bank headquartered in Louisiana, with $1.1 billion in assets, 15 banking centers and 241 employees.
It says Fidelity has $126 million in assets and about 50 employees at five offices in the Baton Rouge area.
After the merger, Red River Bank would operate in six parishes from Caddo to East Baton Rouge, with 20 offices and 27 ATMs.