First National Bankers Bank in Baton Rouge has completed its acquisition of the Independent Bankers’ Bank of Florida.
Officials said the merger, which was finalized Friday, will further expand FNBB across the Gulf South, providing a new regional office location in Lake Mary, Florida, and increasing FNBB’s customer base to more than 800 community financial institutions. FNBB expects the merger will push it to about $1 billion in assets.
“We look forward to expanding our relationships in Florida and ensuring that all of our customers, present and future, remain well taken care of by an even stronger, more vibrant FNBB for many years to come,” said Joseph F. Quinlan III, president and CEO.
FNBB announced in July it had reached a deal for Independent Bankers’ Bank. FNBB was founded in 1984 and is the first nationally chartered banker’s bank in the country.
Bankers’ banks don’t take deposits from the public or make loans to consumers. Instead, bankers’ banks provide services to community banks. In FNBB’s case, those services may include audits, investment sales, property and workers’ compensation insurance, data processing and assistance with larger loans.
FNBB has seven offices serving 13 states, including locations in Baton Rouge and Shreveport.