Indianola based Planters Holding Company, the holding company of Planters Bank & Trust Company, together “Planters,” and Saint Joseph, Louisiana based BSJ Bancshares, Inc., the holding company of Cross Keys Bank, together “Cross Keys,” recently announced that they have entered into a definitive agreement whereby Cross Keys will merge with Planters. Cross Keys Bank, a community bank headquartered in Saint Joseph, Louisiana, had approximately $598 million in total assets as of December 31, 2024.
Upon consummation of the proposed transaction, Planters will enter north Louisiana and east Texas with 8 branches and 1 branch respectively. On a combined basis, Planters will have 32 branches and total assets of approximately $2.6 billion, based on December 31, 2024 financial data.
“We are very excited to announce our partnership with Cross Keys, and we look forward to our combined companies continuing to build upon the great community bank franchise Cross Keys has established. We view north Louisiana and east Texas as strategic growth markets for our company, and Cross Keys’ strong reputation and commitment to serving its customers makes them the perfect partner to expand our franchise,” says Alan H. Hargett, CEO of Planters Bank & Trust Company.