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New Deal


Announced

MC Bancshares to acquire Heritage NOLA Bancorp.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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community bank

financial services

United States

Acquisition

Merger

Domestic

Private

Single Bidder

savings bank

Majority

Pending

Friendly

Banks

Synopsis

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MC Bancshares, the holding company for M C Bank & Trust Company, a Louisiana-chartered bank, agreed to acquire Heritage NOLA Bancorp, the holding company of Heritage Bank of St. Tammany, a federally chartered savings bank. Financial terms were not disclosed. "We are pleased to announce that we are partnering with Heritage Bank to expand our presence in St. Tammany Parish. As local Louisiana banks, we share similar core values and a relationship-centric approach to serving the communities that we are fortunate to be a part of. This transaction is a very natural and contiguous expansion of our current footprint," Chris LeBato, MC Bancshares and M C Bank CEO.

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