Austin, TX- October 23, 2007
Sheshunoff & Co. Investment Banking, announces the sale of Louisiana based Citizens Progressive Bank - ($ 44.7 million) to Caldwell Holding Company -
($ 81.5 million). Sheshunoff & Co. represented the seller in the $ 8.7 million all cash transaction.
Citizens Progressive Bank in Columbia, Louisiana has been acquired by a subsidiary of Caldwell Holding Company, also of Columbia. The bank's acquisition enhances the Caldwell franchise by gaining significant market share including approximately $9 million of non-interest bearing deposits. The transaction adds three branches to Caldwell's franchise and expands their footprint to neighboring Franklin Parish.
According to Gary Kennedy, Director of Merger and Advisory Services for Sheshunoff & Co. Investment Banking, "This acquisition provides the benefits of an in-market acquisition, while at the same time stretching Caldwell's franchise to Franklin Parish. The result is a $120 million-strong financial institution located only thirty miles south of Monroe and with a significant presence 30 miles to the east in growing Winnsboro. This acquisition can only benefit the employees and customers of both institutions as well as the entire Monroe region."
This is the second all cash transaction that Sheshunoff & Co Investment Banking has announced in Louisiana since the 2nd quarter.
About Sheshunoff & Co. Investment Banking
Sheshunoff & Co. Investment Banking has acted as financial advisor in more than 200 transactions in the past fifteen years. The firm has advised financial institutions nationwide for thirty years with merger and acquisition advisory services, valuations, fairness opinions and restructuring. Sheshunoff & Co.'s merger and acquisition services are exclusively endorsed by the ABA through its subsidiary the Corporation for American Banking.
About Sheshunoff & Co. Investment Banking
Sheshunoff & Co. Investment Banking has acted as financial advisor in more than 200 transactions in the past fifteen years and has advised financial institutions nationwide for thirty years with merger and acquisition advisory services, valuations, restructuring, and strategic options assessment all to increase shareholder value. The firm's merger and acquisition services are exclusively endorsed by the ABA through its subsidiary the Corporation for American Banking.
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