Financial Advisor
Origin Bancorp, Inc.
M&A Advisory
Has Acquired
Transaction Details
- On February 24, 2022, Origin Bancorp, Inc. (Nasdaq: OBNK) ("Origin"), and BT Holdings, Inc. ("BTH"), the holding company for BTH Bank, N.A., jointly announced the signing of an Agreement and Plan of Merger under which Origin will acquire BTH in an all-stock transaction
- BTH shareholders will receive an aggregate of 6,828,390 shares of Origin's common stock in exchange for all outstanding shares of BTH common stock
- BTH’s locations will help Origin bridge the I-20 corridor between Louisiana and Dallas-Fort Worth, and expand its growth opportunities in Texas
- The completed merger will give Origin a top 30 deposit market share in Texas and top 20 within the Dallas-Fort Worth metroplex
- The transaction is expected to close during the second half of 2022
Note: Financial data at or for the quarter ended December 31, 2021.
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1) Based on OBNK stock price of $44.52 as of February 23, 2022.
2) BTH tangible book value is consolidated and as of December 31, 2021; BTH 2022E earnings are based on Origin management estimates.
3) TBVPS Earnback calculated using the cross-over method.
4) Reflects BTH bank-level regulatory financials at or for the quarter ended December 31, 2021.
Sources: Company Documents, S&P Global Market Intelligence and publicly available information.
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