First Guaranty Bancshares has acquired Marksville-based Union Bancshares in a deal that will expand the Hammond-based institution’s reach into Central Louisiana.
As part of the deal, shareholders of Union received $1,061.20 per share in cash, yielding an aggregate deal value of $43.4 million. Union had total consolidated assets of approximately $258.5 million, loans of $183.8 million and total deposits of $205.2 million as of Thursday.
Following the merger, announced by the companies in August, First Guaranty will now have assets of approximately $2.1 billion and 440 employees located in 34 locations, including 29 in Louisiana.
The deal was financed by a $32 million loan from First Horizon Bank, which announced last week it was acquiring Lafayette-based IberiaBank.
