Winnsboro bank buys RSB Mangham branch

Winnsboro State Bank Winnsboro, and Business First Bank, Baton Rouge, jointly announced May 7 their entry into an agreement by which WSB will acquire the Mangham, Louisiana branch of Business First Bank, which it recently acquired in connection with the acquisition of Richland State Bank. 

Following the transaction, WSB will operate from four branch locations in Franklin and Richland parishes. 

Business First Bank will continue to operate its remaining 24 locations across the state and in the Dallas area.

Per the terms of the agreement, WSB will acquire the Mangham branch, along with approximately $28.3 million in deposits and $4.7 million in loans. 

The transaction is expected to close in the second quarter, subject to customary regulatory approvals. WSB expects to extend offers of employment to all current employees of the Mangham branch location.

“We are very pleased to reach this agreement and to become part of the Mangham community,” said Howard Dee Smith, President of WSB. “As we start the account transition process in the coming weeks, our goal will be to ensure customers a smooth process and uninterrupted service.”

There is no action required for customers of this branch at this time, and WSB will communicate in advance of any changes as both banks work together to care for their customers and team members.