OBNK - Origin Bancorp to acquire BT Holdings in $313.5M all-stock deal

Origin Bancorp (OBNK -3.1%) will acquire BT Holdings in an all-stock transaction valued at ~$313.5M, based on OBNK's closing stock price on Feb. 23. Based on combined balances as of Dec. 31, OBNK is expected to have ~$9.9B in assets, $6.6B in loans and $8.3B in deposits following the close of the transaction. BT shareholders will receive ~6.8M OBNK shares in exchange for all outstanding shares of BT. Each BT share would be converted to 0.6547 OBNK shares. Outstanding options to purchase BT stock will be converted to options to purchase OBNK stock. The merger will give OBNK a top 30 deposit market share in Texas and top 20 within the Dallas-Fort Worth metroplex. The closing of the transaction is expected to occur during H2 of 2022.

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Origin Bancorp to acquire BT Holdings in $313.5M all-stock deal