Louisiana bank makes a move into Texas with acquisition

Acquiring another company can be a very beneficial move for a company that is looking to expand. These types of business law transactions can involve all kinds of businesses, from manufacturers to industrial companies to businesses in the financial sector. According to a recent report, a Louisiana financial company has decided to expand its operations into Texas with the acquisition of Waco-based Synergy Bank.

The acquiring company is First Guaranty, a financial group with multiple locations near Baton Rouge. The Louisiana-based company reportedly has approximately $1.4 billion in assets. Synergy Bank reportedly has $153 million in assets. Expansion into the Texas market, especially the Dallas-Fort Worth part of the Texas market, is reportedly the primary reason behind the acquisition.

Nonetheless, this deal cannot be complete until regulatory review of the transaction is done. It doesn’t appear that there are any concerns from either side about issues that might stall the completion of the deal, but it is important for any company that gets to this point to make sure that they are getting the right legal information in order for a smooth exchange to occur.

As the national economy continues to rebound from the disastrous days of 2007 and 2008, many companies in Louisiana might have an eye toward expansion, like First Guaranty did. Acquiring another established business – or merging – can be lucrative expansion moves. But, when making these moves, businesses in Louisiana need to ensure that they are analyzing the process from a business law standpoint as well as a corporate standpoint.

Source: wacotrib.com, “Louisiana group buys Waco’s Synergy Bank,” Mike Copeland, March 2, 2017