French Hill
Reports of a shift in ownership at Delta Trust & Banking Corp. have grown more widespread.
The story line we’re told involves the LaFrance family assembling a block of stock in the $431.8 million-asset lender.
Those shares would be purchased from a group of minority shareholders in the bank.
How many shares and the identity of the would-be sellers remain in the shadows for now.
We’ve heard that a multiple of 1.3 times book value is associated with the transaction.
French Hill, chairman and CEO of Delta Trust, hasn’t responded to requests for comment.
The lender produced a $4.3 million profit during 2012 and operates nine full-service locations with a staff of 118.
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