Lafayette-based Home Bancorp Inc., which in recent years has expanded into Baton Rouge, New Orleans and the Northshore, is venturing into Mississippi with an acquisition of Britton & Koontz Capital Corp. under a $34.5 million deal announced Tuesday.

Britton & Koontz, the holding company for Britton & Koontz Bank, is based in Natchez, Miss. B&K operates three branches there, two in Vicksburg, Miss., three in Baton Rouge and a loan production office in Central.

The five B&K branches in Mississippi will be Home Bancorp’s first outside Louisiana.

“The Mississippi economy is on its way back. It truly has gone through some hard times,” said Home Bancorp President and Chief Executive Officer John W. Bordelon. “I think the beauty of what B&K Bank has done is they have maintained the No. 1 group position in the Natchez market. That’s one of the strengths we like about this company.”

Home Bancorp is the holding company for Home Bank. The company already has nine branches in Acadiana; four in New Orleans; three in Baton Rouge; and six on the Northshore.

Under the deal, B&K Capital shareholders will receive $16.14 in cash for each share of stock.

As of Sept. 30, Britton & Koontz had assets of $313 million, $175 million in loans and $224 million in deposits.

The combined company will have assets of around $1.2 billion, $843 million in loans and $990 million in deposits. The deal also doubles Home Bancorp’s Baton Rouge loan and deposit base to about $140 million to $150 million in loans and about $100 million in deposits.

Peter Ricchiuti, who oversees Tulane University’s small-cap research group, said the combined company will have the size to finally attract some investor attention.

The fact that Home Bancorp’s shares went up slightly on the news, as opposed to falling in the case of most mergers, says the price was not too rich, Ricchiuti said.

Home’s shares closed Tuesday at $18.44, up 37 cents.

Bordelon said the acquisition is a great fit on many levels.

Both companies share a commitment to doing what’s best for their customers, Bordelon said. The longstanding relationships that have resulted have been and will continue to be the key to the combined company’s success.

Home Bancorp expects to complete the acquisition by the end of first-quarter 2014, he said.

The acquisition of B&K is Home’s first in two years. The previous two deals gave Home locations in New Orleans and the Northshore.

However, Bordelon said Home Bancorp isn’t looking to expand in any particular direction and doesn’t have any particular acquisition target in mind.

“It’s just a matter of finding the right fit for Home Bank,” Bordelon said.

In 2011, Home plunked down $26.2 million for GSI Financial Corp. GSI, which operated Guaranty Savings Bank, had five New Orleans branches and a mortgage loan production office.

In 2010, Home Bancorp acquired the assets and deposits of failed Covington-based Statewide Bank. Statewide was the first Louisiana bank to fail since 2002. Statewide had seven locations in the St. Tammany Parish area. Home Bancorp acquired $225 million of Statewide’s assets, including about $150 million of loans. Home also assumed around $225 million in deposits and other liabilities.