Financial Services Acquisitions in Louisiana

Cetera Financial Group has acquired the wealth management business of Darnall Sikes Wealth Partners, adding approximately $1.9 billion in client assets to its RIA model. The Darnall Sikes team — based in Louisiana with four locations and clients across more than 40 states — will join Avantax Planning Partners within Cetera's RIA channel, providing succession solutions for the firm's advisors and expanding Cetera's advisor network and AUM.

Business First Bancshares, Inc. (the holding company for b1BANK) completed its acquisition of Progressive Bancorp, Inc. and its wholly owned subsidiary Progressive Bank. The deal expands b1BANK's presence across North Louisiana, adding nine locations and increasing Business First's total assets to approximately $8.7 billion.

Astira Capital Partners, a Boston-based private equity firm, has acquired Altus Commercial Receivables (Altus), a provider of commercial receivables management solutions. Altus was divested by ARMStrong Receivable Management, a BharCap Partners portfolio company; Astira said it will accelerate Altus' technology roadmap and scale the business to deliver improved working capital outcomes for clients. Terms were not disclosed.

Keesler Federal Credit Union will merge with Jefferson Financial Federal Credit Union, with Keesler as the surviving institution effective July 1, 2025. The deal adds more than $700 million in assets, 14 Greater New Orleans branches, roughly 45,000 members, and more than 145 Jefferson Financial employees to Keesler, expanding the combined credit union's Gulf South footprint and branch network.

Merchants & Marine Bancorp, Inc. (MNMB) signed a definitive agreement to acquire Mississippi River Bank, a Belle Chasse, Louisiana-based community bank with approximately $127.7 million in assets. Mississippi River Bank will continue to operate under its existing brand as a division of Merchants & Marine Bank; the target's CEO Mike Bush and President/COO Lisa Works will remain in their roles. The acquisition is subject to shareholder and regulatory approvals and is expected to close in Q1 2024.

Carson Group (through its Carson Wealth business) announced the full acquisition of The Shobe Financial Group, a 16-person wealth management and financial planning firm in Baton Rouge, Louisiana that manages over $500 million in client assets. The deal provides a succession solution for the Shobe team while integrating the office as a wholly owned Carson Wealth location to access Carson's resources and support future growth.

Wealthcare Capital Management LLC, a NewSpring Holdings platform company, has acquired Eagle Financial Management Services, a Shreveport-based RIA that advises on more than $120 million in AUM. The deal expands Wealthcare’s direct-advisory channel, growing its advisor team to more than 150 advisors and increasing combined AUM to $4.75 billion; the Eagle Financial team will remain engaged and will use Wealthcare’s GDX360 goals-based planning platform.

BancPlus Corporation completed its acquisition of First Trust Corporation, the parent company of First Bank and Trust, with First Bank and Trust merged into BankPlus effective March 1, 2022. The deal expands BankPlus’s presence in Louisiana—notably New Orleans—creating the seventh-largest bank by deposit market share in that market and resulting in a combined company with approximately $6.4 billion in assets, $5.7 billion in deposits and $4.5 billion in gross loans.

TreviPay, a global B2B payments fintech based in Overland Park, Kansas, has acquired BATON Financial Services, Inc., a New Orleans–based developer of a B2B invoice payments network. The acquisition expands TreviPay’s trade credit and accounts-receivable/payment capabilities to better serve small B2B businesses and integrates BATON’s technology and leadership into TreviPay’s offerings.

Johnson, Morgan & White completed a strategic merger with Altus GTS Inc., North America’s largest commercial collection agency, to combine capabilities and broaden accounts receivable management services. The combined firm will leverage Altus’s corporate collections platform and JMW’s forensic collection capabilities to expand service offerings, regulatory compliance, and client coverage across the U.S. and Canada.