As a locally owned community bank, First Trust focused on building client relations and offered full service commercial and consumer banking services, education/tuition lending products, and a full array of mortgage products covering southeast Louisiana, Mississippi, and Florida. First Trust Corporation's parent company held affiliated subsidiaries FBT Investments, FBT Advisors and First Insurance Agency.
Cyborg Score Rationale
First Trust Corporation ceased operations as an independent entity in March 2022 following its acquisition by BancPlus Corporation. Cyborgcore scoring is not applicable for historical/acquired entities.
Top Insights
Founded in 1991; operated for ~31 years before acquisition in March 2022
Had approximately $1.3 billion in assets as of June 2021 with $1.2 billion in deposits
Operated 14 branches across Louisiana, Mississippi, and Florida
Strategic acquisition expanded BancPlus's New Orleans market presence to become 7th-largest by deposit market share in the city
Named Competitors
BankPlus — Regional bank serving Southeast with retail, commercial, mortgage, and wealth management
Regions Bank — Regional bank with significant Gulf Coast presence
CIBM — Community bank competitor in Gulf Coast region
Recent Developments
(September 2021) BancPlus Corporation announced definitive merger agreement to acquire First Trust Corporation
(March 2022) Acquisition completed; First Bank and Trust merged into BankPlus
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