NATCHEZ, Miss. (AP) -- Home Bancorp Inc. has announced an agreement to acquire Britton & Koontz Capital Corporation for an aggregate deal value of $34.5 million.
Britton & Koontz, based in Natchez, Miss., currently operates three branches in Baton Rouge, La., and five branches in Mississippi.
The merger agreement was unanimously approved by the boards of directors of both companies. The transaction is expected to close in the first quarter of 2014.
No additional capital will be needed by Home Bancorp to complete the transaction.
Home Bancorp is headquartered in Lafayette, La. Home Bank currently conducts business from 22 full-service banking locations in Louisiana.
Under the terms of the agreement, shareholders of Britton & Koontz will receive $16.14 per share in cash upon completion of the merger.