Tuesday, May 28, 2024

Origin Bancorp completes acquisition of BT Holdings

by BIZ Magazine

RUSTON – Origin Bancorp, Inc. (Nasdaq: OBNK) (“Origin” or the “Company”), the holding company for Origin Bank, Choudrant, Louisiana, today announced the completion of its acquisition of BT Holdings, Inc. (“BTH”), the holding company for BTH Bank, N.A.(“BTH Bank”), Quitman, Texas.

The acquisition became effective on August 1, 2022, in accordance with the terms of the previously announced Agreement and Plan of Merger, dated as of February 23, 2022 (the “Merger Agreement”).

“We are excited to have completed the merger with BTH, giving us a strong presence in East Texas and bolstering our Dallas and Fort Worth markets,” said Drake Mills, Chairman, President and Chief Executive Officer of Origin.  “BTH and Origin have remained committed to local decision-making and meeting the needs of our customers and communities. That dedication and commitment will only grow stronger as we move forward together.”

With the completion of the acquisition, Origin has approximately $9.78 billion in assets, $6.68 billion in loans and $7.98 billion in deposits on a consolidated basis. Origin Bank and BTH Bank will operate as separate banking subsidiaries of the Company until the merger of the banks, which Origin expects to complete concurrently with the data processing conversion early in the fourth quarter of this year.

In connection with the merger, Lori Sirman, President and CEO of BTH Bank, and Jay Dyer, Executive Vice President of BTH Bank, have joined the Boards of Directors of the Company and Origin Bank. They will also serve on the executive management team of Origin Bank.

“Lori, Jay and the BTH team have built upon the proud tradition that was established in 1914 by the bank’s founders in Quitman, Texas, and they have continued the legacy of Bob Dyer and his fresh, unique approach to banking,” said Mills. “Through the partnership between Origin and BTH, we will remain committed to this approach and, by working together, build an even stronger company.”

Stephens, Inc. acted as financial advisor to Origin and Fenimore Kay Harrison LLP acted as legal advisor to Origin. Piper Sandler & Co. acted as financial advisor to BTH and Norton Rose Fulbright US LLP acted as legal advisor to BTH.

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