Liberty Bank And Trust Company Acquires Metro Bank


NEW ORLEANS, La. – Liberty Bank and Trust Company (Liberty Bank) headquartered in New Orleans, Louisiana today announced that it has finalized a merger agreement and has acquired the assets and banking relationships of Louisville Development Bancorp, Inc., the holding company for Metro Bank, Inc., Louisville, Kentucky. The acquisition is a continuation of Liberty Bank’s expansion into major urban markets throughout America.

Liberty Bank currently operates in eight (8) states including Louisiana; Mississippi; Kansas and Missouri; Michigan; Alabama; Illinois; and Texas. As of March 31, 2020, Liberty had approximately $625 million in assets and $533 million in deposits.

Metro Bank operates a single office in Louisville, Kentucky. As of March 31, 2020, Metro Bank had approximately $26 million in assets and $21 million in deposits.

Alden J. McDonald, Jr., President and Chief Executive Officer of Liberty Bank and Trust Company said, “This acquisition will move Liberty into the Louisville, Kentucky marketplace. It will tie together our operations across nine states and will allow us to expand wealth building opportunities for the citizens of Louisville.” McDonald pointed out that the Liberty Bank merger with Metro Bank will significantly enhance the financial products available for Metro Bank customers. “Liberty has a suite of online resources to give Metro Bank customers expanded banking services and products”.

Louisville Development Bancorp and Metro Bank President Pedro Bryant who will continue to lead operations in the Kentucky area said “We are pleased to partner with Liberty Bank, an institution with a long history and tradition of dedication to the communities it serves. The acquisition will offer our customers access to the latest in banking technology, an enhanced capacity for lending and deposit offerings and a continued commitment to the community of Louisville and Jefferson County.”

About Liberty Bank and Trust: Liberty Bank, headquartered in New Orleans, LA, was founded in 1972. Liberty has grown from an initial asset base of two million dollars ($2 million) to approximately six hundred twenty-five million dollars ($625 million). Liberty Bank is among the top three largest African-American owned financial institutions with a nine (9) state footprint in the United States.

10 views

Contact Information

 

The Baton Rouge Weekly Press,

P.O. Box 74485

Baton Rouge, La. 70874

Phone:  (225) 775-2002

Email:  brweeklypress@yahoo.com

Submit Your

News Releases

 brweeklypress@yahoo.com

Join Our Mailing List

Never miss an update

The Baton Rouge Weekly Press

 

Over 40 years of Excellent Service The Baton Rouge Weekly Press is considered to be the number one minority newspaper in The Greater Baton Rouge area and has served the public for over 40 years. The Weekly Press is distributed every week with a total circulation of 60,000 and has over 450 distribution points which include

State and Local Government buildings, Banks, Churches, Louisiana State University, Southern University, schools, and libraries in the East Baton Rouge Parish.

READ MORE

  • Facebook - Grey Circle
  • Twitter - Grey Circle
  • YouTube - Grey Circle
  • Pinterest - Grey Circle
  • Instagram - Grey Circle

BRWEEKLYPRESS.COM

HOME        ABOUT US        CURRENT ISSUE        NEWS        TV/RADIO        ADVERTISE       SUBSCRIBE       CONTACT

© 2020 by Baton Rouge Weekly Press LLC