BancPlus Corporation Completes Acquisition of First Trust Corporation

RIDGELAND, Mississippi, March 01, 2022–(BUSINESS WIRE)–BancPlus Corporation (“BancPlus”), the parent company of BankPlus (“BankPlus”), today announced the completion of its previously announced acquisition of First Trust Corporation (“First Trust Corporation”), the parent company of First Bank and Trust (“First Bank and Trust”). Effective March 1, 2022, First Bank and Trust merged with and into BankPlus.

BankPlus’ acquisition of First Bank and Trust builds on the company’s presence in Louisiana, specifically New Orleans, creating the seventh largest bank by deposit market share in New Orleans. With this transaction, BankPlus strengthens its position as the leading regional bank in the Southeast, with more than 90 branches located in Alabama, Mississippi, Louisiana and Florida. The combined company is expected to have approximately $6.4 billion in assets, deposits of $5.7 billion and gross loans of $4.5 billion.

In addition, and as part of the closing of the acquisition, Gary Blossman, Managing Director of First Bank and Trust, was appointed Senior Executive Vice President of BankPlus, Duane Abadie, President and Chief Credit Officer of First Bank and Trust , has been named executive vice president and chief credit officer – Gulf Coast Region at BankPlus, and Jeff Ehlinger, executive vice president and chief banking officer of First Bank and Trust, has been named executive vice president and president. – Louisiana at BankPlus.

BankPlus expects the conversion of all First Bank and Trust accounts to take place in late summer 2022. Once the conversion is complete, First Bank and Trust customers will have access to new technologies and banking services, including a full-service wealth management division.

“We are delighted to welcome First Bank and Trust’s customers, shareholders and team members to the BankPlus family,” said William A. Ray, President and Chief Executive Officer of BankPlus. “First Bank and Trust has built a solid foundation in the New Orleans market which we look forward to growing. Together, we will continue their tradition of service coupled with our commitment to having a positive impact on customers, employees and communities as these two banks become one.”

About BancPlus Corporation

BancPlus Corporation is the holding company of BankPlus. Founded in 1909, BankPlus is one of the Southeast’s leading regional banks serving consumers and businesses with the latest technology through a full range of financial services including retail banking, commercial banking, mortgages and wealth management. Prior to the acquisition of First Bank and Trust, BankPlus held over $5.1 billion in total assets, $4.5 billion in deposits, $3.5 billion in gross loans and operated 79 financial centers around the Mississippi, Alabama and Louisiana. For more information on BankPlus, visit www.bankplus.net.

Forward-looking statements

Certain of the statements contained in this release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “expect”, “anticipate”, “intend”, “plan”, “believe”, “should”, “seek”, “will”, “may” and “estimate”, and similar expressions are intended to identify these forward-looking statements, but other statements not based on historical information may also be considered forward-looking. All forward-looking statements are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of any of the merging parties to differ materially from the results, performance or achievements expressed or implied. -understood by these forward-looking statements. statements. These risks include, but are not limited to, difficulties, delays and unforeseen costs associated with integrating the merging banks’ businesses or realizing the expected cost savings and other benefits; business disruptions resulting from the integration of the merging banks, including the possible loss of customers; diversion of management’s time to deal with transaction-related issues; changes in asset quality and credit risk following the merger; changes in customer borrowing, repayment, investment and deposit behaviors and practices; changes in interest rates, capital markets and local and national economic conditions; the timing and success of new business initiatives; competitive conditions; and regulatory conditions. Forward-looking statements are not guarantees of performance. You should not place undue reliance on these statements which speak only as of the date hereof. You should understand that various important factors, including those discussed in the “Risk Factors” section of BancPlus Corporation’s Annual Report on Form 10-K filed with the Securities Exchange Commission (“SEC”), and its most recent Quarterly Report on Form 10-Q, available on the SEC’s website at www.sec.govcould affect future results and could cause these or other results to differ materially from those expressed or implied by its forward-looking statements.

Source: BancPlus Company

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220301005242/en/

contacts

Contact with Investor Relations:
Kevin Bailey
601-607-4452, [email protected]

Media Contact:
Rob Armor
601-898-4869, [email protected]

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