By the numbers: The Louisiana State Employees’ Retirement System says its asset value rose 6.6% over the fiscal year that ended June 30 to $11.3 billion, up from $10.6 billion at the close of the previous fiscal year. “The 2015 valuation shows the health and sustainability of LASERS plan,” says LASERS Executive Director Cindy Rougeou in a prepared statement. “In addition to the nearly $1 billion increase in assets, LASERS actuarial rate of return was 10.64% for the fiscal year. Our 30-year average compounded actuarial return is 8.35% with an assumed rate of 7.75%.” LASERS, which has roughly 150,000 members statewide, has more details on its fiscal year end report.
Done deal: Baton Rouge-based First National Bankers Bank has completed its previously announced acquisition of Independent Bankers’ Bank of Florida. The acquisition, financial details of which were not disclosed, was announced in late June. First National will establish a regional office in Lake Mary, Florida, and it anticipates the bank will grow to approximately $1 billion in assets with the acquisition. First National, founded in 1984, is a subsidiary of First National Bankers Bankshares Inc., which is also headquartered in Baton Rouge. First National has more details on the acquisition.
Opening soon: The recently completed section of Antioch Road between Airline and Jefferson highways will reopen to traffic 9:30 a.m. on Tuesday, city-parish officials announced this morning. The completed work is the first phase of the $5.2-million realignment of Antioch Road between Airline Highway and La Louisiane Court. The second and final phase of the project is expected to be completed in late October or early November, weather permitting.
