Origin Bancorp drops on merger deal with BTH Bank's parent company

Origin Bancorp

24/02/2022 16:34

** Shares of Origin Bancorp  OBNK.O , parent co of Origin
Bank, down 2.4% at $43.44
    ** Stock earlier touched session-low of $42.72, lowest in
nearly three weeks
    ** Co to buy parent firm of Texas-based BTH Bank in an
all-stock deal valued at $313.5 mln  urn:newsml:reuters.com:*:nGNX8WHgcM
    ** Deal expected to close in second half of 2022, companies
say
    ** After merger, OBNK expected to have about $9.9 bln in
assets, $6.6 bln in loans and $8.3 bln in deposits
    ** Louisiana-based OBNK says it hopes to expand footprint in
Texas through the acquisition
    ** On Refinitiv, stock has a consensus rating of "buy" with
a median PT of $52
    ** Shares up nearly 0.8% so far this year

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))