Two south Louisiana banks consider merger

The holding companies of United Community Bank of Gonzales and Community Bank of Raceland are considering a merger. The two holding companies have a majority of the same shareholders, says Mike Riche, who acts as CEO for the banks. “Instead of having two holding companies with one bank each, we would have one holding company with two banks,” says Riche. The board should make a decision on the merger within the next month. “I think the merger will happen, but there are a number of stockholder meetings and board meetings we have to go through,” Riche says. Community Bank has nine branches and $353 million in deposits, while United Community Bank has six branches and $128 million in deposits, according to the FDIC.—Timothy Boone