Latest news with #BatonRouge-based
Yahoo
02-07-2025
- Business
- Yahoo
Louisiana bank to enter Dallas with its second Texas deal
Six years after entering Texas, Louisiana-based Investar Holding Corp. is going much bigger in the Lone Star State with a deal for the $1.6 billion-asset Wichita Falls Bancshares. Acquiring Wichita Falls, the holding company for the 36-year-old First National Bank, would add $1.2 billion of Texas-based deposits, including $364 million in the rapidly growing Dallas-Forth Worth Metroplex, where First National operates five branches. It would also significantly alter Investar's funding profile by raising the level of Texas-based deposits, currently at 6%, to 37% for the pro forma company. In a press release, Investar CEO John D'Angelo described the merger, which is expected to close in the fourth quarter, as "a pivotal moment in the history of Investar Bank and a defining milestone for our company." To help fund the purchase, Baton Rouge-based Investar announced the completion of a private placement of $32.5 million in preferred stock on Tuesday. The company said it would use the stock-sale proceeds to support the acquisition and for general corporate purposes, "including organic growth and other potential acquisitions." An Investar spokesperson did not immediately respond to a request for comment on the company's level of interest in pursuing more M&A deals. Investar agreed to pay about $84 million in cash and stock for Wichita Falls, which is based in the North Texas city of the same name. Investors appear to favor the transaction. Shares in Investar were trading up nearly 6% midday Wednesday at $21.56 per share. Investar entered Texas in 2019 by acquiring the $125 million-asset Mainland Bank in Texas City. Following the completion of the deal announced Tuesday, the combined company would start with $4 billion of assets, $3.3 billion of loans and $3.5 billion of deposits. Investar is projecting 2026 earnings of $3.08 per share, reflecting 35% accretion. Investar reported earnings per share of $2.06 in 2024 and $1.69 in 2023. "We believe this merger creates more long-term value for our customers, communities and shareholders," Wichita Falls President David Flack said in the press release. "It will allow us to bring new products and services to our customers while keeping the same banking locations and trusted local bankers." The sale to Investar "provides a great opportunity to enhance strategic synergies through combined resources," Stan Pinkham, the president and CEO of First National Bank, said in the release. Founded by D'Angelo in 2006, the $2.7 billion-asset Investar has frequently employed M&A to fuel its growth. Investar acquired the $249 million-asset Citizens Bancshares in Ville Platte, Louisiana, for $46 million in July 2017. Five months later, in December 2017, the company was able to bulk up in its core Baton Rouge market, completing a $22 million deal for the $131 million-asset BOJ Bancshares. In recent years, Investar has pursued a multistate expansion strategy. It bought Cheha Financial Group in Oxford, Alabama, for $41 million in April contrast with Investar, which is a significant commercial and small business lender, Wichita Falls has focused on mortgage lending. In addition to its seven branches, it operates two mortgage offices. As of March 31, one-to-four-family mortgages made up just under half of its $1.1 billion loan portfolio. Investar said it plans to sell $200 million of mortgages to reduce the pro forma company's residential loan concentration and pay down corporate debt and noncore deposits. The announcement that Investar expects the deal to close in about five months is in keeping with a growing trend of more timely M&A decisions by regulators. In a research note Monday, Seaport Research Partners Senior Analyst Laurie Havener Hunsicker noted that 10 of the 21 bank deals announced in January and February 2025 have already closed.
USA Today
28-06-2025
- Entertainment
- USA Today
LSU quarterback Garrett Nussmeier, Arch Manning star in Raising Cane's ad
'At least your dad didn't move to Louisiana and start calling plays' This is a fun one. Louisiana football royalty descended on Thibodeaux this week for the Manning Passing Academy, with legendary New Orleans Saints quarterback Archie Manning joining his sons Peyton, Eli, and Cooper and grandson Arch for an opportunity to mentor the next generation of passers. On the way, several members of the Manning family stopped by the Baton Rouge-based Raising Cane's to put in a celebrity "shift" and pulled into the drive-thru to cut a commercial. You can see it for yourself here, but they weren't alone. Raising Cane's founder Todd Graves, a popular pick among fans to buy the Saints should owner Gayle Benson ever put them up for sale, sat in the back seat with LSU Tigers quarterback Garrett Nussmeier. Grandfather Archie questioned grandson Arch as to whether his Super Bowl-winning uncles Peyton and Eli were going too hard on him; the younger Manning and Nussmeier roomed together this week as counselors at the clinic. "Tell me about it. At least your dad didn't move to Louisiana and start calling plays," quipped Nussmeier, son of new Saints offensive coordinator Doug Nussmeier. That's when Arch's father Cooper leaned in from the drive-thru window to remind his son to order with a "please" and "thank you," while telling Nussmeier that his father already called in his order: "He doesn't trust your judgment." Rookie Saints quarterback Tyler Shough is also working at the event as a counselor, and he's the first to do so after going pro. With almost 1,500 high school quarterbacks in attendance, the Mannings could use all the help they can get. As for Graves? Between all this high-maintenance bickering among quarterbacks, he joked that he needs "to start hanging out with linemen." We're guessing Erik McCoy and Cameron Jordan would be more than happy to show him around town.
Yahoo
27-06-2025
- Politics
- Yahoo
Supreme Court defers decision on challenge to Louisiana congressional map
WASHINGTON – The Supreme Court on June 27 deferred a decision on the constitutionality of Louisiana's congressional map, saying they want to reconsider the case after additional oral arguments which it will schedule later. The map is being challenged by non-Black voters who said it relied too heavily on race to sort voters. The Louisiana legislature last year created a second majority-Black district after lower courts said the state's initial map unfairly diluted the power of the Black vote. The case tests the balancing act that states must strike, complying with a civil rights law that protects the voting power of a racial minority while not discriminating against other voters. Justice Clarence Thomas dissented, saying there's no reason to delay a decision. "Congress requires this Court to exercise jurisdiction over constitutional challenges to congressional redistricting, and we accordingly have an obligation to resolve such challenges promptly," he wrote. The dispute started after Louisiana drew new boundaries for its six congressional districts to account for population shifts following the 2020 Census. The map included only one majority-Black district even though the state's population is about one-third Black. A Baton Rouge-based federal district court and the Louisiana-based 5th U.S. Circuit Court of Appeals said it seemed likely that Louisiana could reasonably create a second majority-Black district. But when the GOP-controlled legislature did so, a divided panel of three federal judges said the new map amounted to racial gerrymandering. The state asked the Supreme Court to intervene. The high court last year agreed to keep the map in place for 2024 and later decided to settle the underlying dispute. The congressman elected from the new district, Rep. Cleo Fields, is a Democrat and the voters challenging the boundary lines say a 'racial quota' cost the state a Republican seat in a narrowly divided Congress. In an unusual alliance, both the state and civil rights advocates defended the map. The second majority-Black district runs diagonally through the state, an unusual configuration but one that civil rights advocates said joined communities with shared interests along the Red River. And Louisiana's Republican leaders said the map met their goal of protecting powerful incumbents. The consolidated cases are Louisiana v. Callais and Robinson v. Callais. This article originally appeared on USA TODAY: Supreme Court punts on racial gerrymandering challenge from Louisiana
USA Today
27-06-2025
- Politics
- USA Today
Supreme Court defers decision on challenge to Louisiana congressional map
WASHINGTON – The Supreme Court on June 27 deferred a decision on the constitutionality of Louisiana's congressional map, saying they want to reconsider the case after additional oral arguments which it will schedule later. The map is being challenged by non-Black voters who said it relied too heavily on race to sort voters. The Louisiana legislature last year created a second majority-Black district after lower courts said the state's initial map unfairly diluted the power of the Black vote. The case tests the balancing act that states must strike, complying with a civil rights law that protects the voting power of a racial minority while not discriminating against other voters. Justice Clarence Thomas dissented, saying there's no reason to delay a decision. "Congress requires this Court to exercise jurisdiction over constitutional challenges to congressional redistricting, and we accordingly have an obligation to resolve such challenges promptly," he wrote. The dispute started after Louisiana drew new boundaries for its six congressional districts to account for population shifts following the 2020 Census. The map included only one majority-Black district even though the state's population is about one-third Black. A Baton Rouge-based federal district court and the Louisiana-based 5th U.S. Circuit Court of Appeals said it seemed likely that Louisiana could reasonably create a second majority-Black district. But when the GOP-controlled legislature did so, a divided panel of three federal judges said the new map amounted to racial gerrymandering. The state asked the Supreme Court to intervene. The high court last year agreed to keep the map in place for 2024 and later decided to settle the underlying dispute. The congressman elected from the new district, Rep. Cleo Fields, is a Democrat and the voters challenging the boundary lines say a 'racial quota' cost the state a Republican seat in a narrowly divided Congress. In an unusual alliance, both the state and civil rights advocates defended the map. The second majority-Black district runs diagonally through the state, an unusual configuration but one that civil rights advocates said joined communities with shared interests along the Red River. And Louisiana's Republican leaders said the map met their goal of protecting powerful incumbents. The consolidated cases are Louisiana v. Callais and Robinson v. Callais.
Yahoo
05-06-2025
- Business
- Yahoo
Babcock Injury Lawyers Announces Release of a Life-Changing Accident, Now Ranking in Amazon Legal Categories
Summary: Babcock Injury Lawyers announces the release of A Life-Changing Accident, a new book by the firm's founder, now ranking in multiple Amazon legal categories since its publication. Baton Rouge, Louisiana--(Newsfile Corp. - June 4, 2025) - Babcock Injury Lawyers has officially announced the release of A Life-Changing Accident, a new book authored by the firm's founder, Stephen Babcock. The book offers an overview of what accident victims may encounter as they navigate recovery and legal proceedings, supporting the firm's ongoing commitment to improving public access to legal knowledge. The release supports Babcock Injury Lawyers' ongoing goal to provide accessible resources for individuals affected by personal injury. The firm stated that the book was created to help simplify complex legal concepts for readers unfamiliar with the personal injury process. A Life-Changing Accident is designed to explain key legal stages between the time an accident occurs and the resolution of a claim, aiming to clarify the legal procedures that injury victims may encounter. According to Babcock Injury Lawyers, the book is written for general audiences, particularly recent accident victims who may be seeking clarity and direction. The content presents general legal information and examples from real-world experiences to support readers in understanding their rights and options following an injury. The publication of A Life-Changing Accident adds to the firm's broader efforts to support injury victims through both legal representation and educational outreach. Babcock Injury Lawyers has historically used blog posts and digital resources to inform the public about relevant legal topics, and this book represents the firm's first extended-format publication. The book is available now in paperback, Kindle, and audiobook formats on Amazon. About Babcock Injury Lawyers:Babcock Injury Lawyers is a Baton Rouge-based law firm representing individuals and businesses in personal injury cases, insurance claims, and business litigation. The firm represents clients across Louisiana and primarily works on a contingency fee basis. With a commitment to transparency and client education, the team provides legal support designed to help individuals and businesses navigate complex legal challenges. Babcock Injury Lawyers also publishes legal content aimed at making the law more understandable and accessible to the public. Media Contact: To view an enhanced version of this graphic, please visit: Company Name: Babcock Injury LawyersContact Person: Stephen BabcockPhone Number: (225) 500-5000Address: 10101 Siegen Ln Bldg 3CCity: Baton RougeState: LouisianaPostal Code: 70810Country: USAWebsite: To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
