Red River Bancshares, Inc. to acquire Baton Rouge based Fidelity Bancorp, Inc.
Alexandria, LA (November 15, 2012) - Red River Bancshares, Inc., the holding company of Red River Bank headquartered in Alexandria, and Fidelity Bancorp, Inc., the holding company of Fidelity Bank of Baton Rouge, have reached a definitive agreement for Red River Bancshares, Inc. to acquire Fidelity Bancorp, Inc. The merger is expected to be completed in the first quarter of 2013, subject to regulatory approvals.
Red River Bank opened in 1999, has $1.1 billion in assets, 15 banking centers in Central and Northwest Louisiana, and 241 employees. Fidelity Bank was founded in 1987, has $126 million in assets, operates 5 banking centers in the Baton Rouge area and has approximately 50 employees. Red River Bank is the 7th largest bank headquartered in Louisiana. With the merger of the two banks, the footprint of Red River Bank will stretch from Shreveport in Northwest Louisiana to Baton Rouge in Southeast Louisiana, covering 6 parishes, and include 20 banking centers, and 29 ATMs.
Red River Bank President and CEO, Blake Chatelain said "The Red River Bank team is extremely excited about joining forces with Fidelity Bank and looks forward to continuing to provide our new customers with the high level of banking service they have come to expect from Fidelity Bank. Red River Bank has grown by taking great care of our customers, and Fidelity Bank shares the same customer service culture. This partnership will not only expand the branch network for both banks’ customers, but will combine our financial resources, knowledge and expertise to help our customers."
About Red River Bank
Red River Bank is an independent community bank that is a wholly-owned subsidiary of Red River Bancshares, Inc., a privately-held bank holding company based in Alexandria. Full service Banking Centers are also located in Alexandria, Ball, Lecompte, Pineville, Forest Hill, and Shreveport.
The deposits of Red River Bank are insured to the maximum extent permitted by the Federal Deposit Insurance Corporation.