Britton & Koontz Capital Corporation
500 Main Street 601-445-5576
P O Box 1407 601-445-2488 Fax
Natchez, MS 39121 http://www.bkbank.com, [email protected]
FOR IMMEDIATE RELEASE: FOR MORE INFORMATION:
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August 25, 2000 W. Page Ogden, President & CEO
for (Nasdaq/Symbol BKBK) Bazile R. Lanneau, Jr., Vice President & CFO
BRITTON & KOONTZ CAPITAL CORP ANNOUNCES MERGER WITH LOUISIANA BANCSHARES
Britton & Koontz Capital Corporation and Louisiana Bancshares, Inc.
today jointly announced the execution of a definitive agreement to merge
Louisiana Bank & Trust Company of Baton Rouge into Britton & Koontz First
National Bank of Natchez, Mississippi. The transaction, which is subject to
regulatory and shareholder approvals, is scheduled to be consummated in the
fourth quarter of 2000. Under the definitive agreement, the shareholders of
Louisiana Bancshares would receive an aggregate of 365,000 shares of
Britton & Koontz common stock in exchange for their shares of Louisiana
Bancshares.
Page Ogden, President of Britton & Koontz, stated, "This merger with
the talented management team of Louisiana Bank & Trust represents a major
expansion of our franchise into Louisiana, which began earlier this year
with the launch of a loan production office in the dynamic Baton Rouge
market. With attractive locations along the Mississippi River corridor
including Baton Rouge, Natchez and Vicksburg, we will be poised for further
profitable growth."
Louisiana Bank & Trust Company operates 2 full service offices in the
Baton Rouge area, and had $42 million in assets and $34 million in deposits
as of June 30, 2000. John S. Sylvest, the President of Louisiana
Bancshares, stated, "The partnership with Britton & Koontz is a superb
match. Among other benefits of this merger, we believe that the Sumx
Internet banking system will offer tremendous value to our shareholders and
customers, just as it has to the customers of Britton & Koontz and other
banks." Britton & Koontz Capital owns 35% of Sumx Inc., an Internet banking
provider, whose software was initially developed for Britton & Koontz.
Britton & Koontz Capital Corporation is a bank holding company
headquartered in Natchez, Mississippi that currently operates 5 full
service banking offices in Natchez and Vicksburg, Mississippi, as well as a
loan production office in Baton Rouge. As of June 30, 2000, the Company
reported assets of $238 million and equity of $20.7 million. The Company's
stock is traded on NASDAQ under the symbol BKBK and the transfer agent is
American Stock Transfer & Trust Company.
In connection with the proposed merger of Louisiana Bancshares into
Britton & Koontz Capital Corporation, Britton & Koontz Capital Corporation
intends to file a registration statement, including the related prospectus,
with the Securities and Exchange Commission. BRITTON & KOONTZ CAPITAL
CORPORATION URGES ALL SECURITY HOLDERS OF LOUISIANA BANCSHARES AND BRITTON
& KOONTZ CAPITAL CORPORATION TO READ THESE DISCLOSURE DOCUMENTS WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. A free
copy of these documents (after they are filed) and other documents filed by
Britton & Koontz Capital Corporation with the Commission may be obtained at
the Commission's web site at www.sec.gov. Shareholders of Louisiana
Bancshares and Britton & Koontz Capital Corporation may obtain a free copy
of the prospectus and registration statement (after they are filed) and any
other relevant documents filed or to be filed by Britton & Koontz Capital
Corporation by directing a request to Britton & Koontz Capital Corporation,
500 Main Street, Natchez, Mississippi 39120, Attention: Corporate
Secretary, telephone: (601) 445-5576.
