BUSINESS

Guaranty Bank &Trust set to acquire Bank of Maringouin

Staff Writer
Plaquemine Post South

NEW ROADS - Great Guaranty Bancshares, Inc., the holding company of Guaranty Bank and Trust Company and Banque of Maringouin Holding Company, Inc., the holding company of Bank of Maringouin, have reached a definitive agreement for Great Guaranty Bancshares to acquire Banque of Maringouin Holding Company.

The merger is expected to be completed in the fourth quarter of 2014 subject to regulatory approvals.

Guaranty Bank & Trust Co. opened in 1956 and has $141 million in assets with four banking locations in New Roads, Livonia, Port Allen and Zachary totaling 45 employees.

Bank of Maringouin was founded in 1903 and has $55 million in assets with 14 employees operating two banking locations in Maringouin and Grosse Tete.

“The Guaranty Bank team is extremely excited about joining forces with Bank of Maringouin,” Guaranty Bank & Trust Co. President and CEO Wade O’Neal said. “Guaranty Bank has grown by taking great care of our customers. This partnership will not only expand the branch network for both banks’ customers but will combine our financial resources, knowledge and expertise to help our customers.

“We have proud histories of serving the needs of locally owned businesses, professionals and individuals who are looking for a better banking experience. We look forward to continuing this legacy.”

Guaranty Bank offers products and services for agribusiness, small business, business owners, professionals, executives, homeowners and consumers. For more information visit www.guaranty-bnk.com.

“We look forward to a strong future as a result of this partnership,” Bank of Maringouin President and CEO Mel Chustz said. “By combining our two teams and resources, we will be able to offer more financial options for our customers.”