DANIEL TYLER GOODEN

VACHERIE – First American Bank and Trust has added four new offices through the acquisition of Schwegmann Bank and Trust. The merger was signed Feb. 5 but will take 45 to 60 days before it’s official due to regulatory and Schwegmann shareholder approval. “This has been in the works for three or four months,” said Frank Bourgeois, president of First American Bank. “This merger gives us a location on the west bank of Jefferson Parish, as well as one on the east bank and two in Orleans Parish.” First American opened its first bank, Bank of Vacherie, in 1910. Over the years it has acquired numerous other banking companies. The largest merger was with Bank of St. Charles in 1989, acquired through an FDIC closure. First American also merged with Merchants Bank in Kenner, Oaktree Savings in LaPlace, First American Tangipahoa in Hammond and a few others. “Our market is between Baton Rouge and New Orleans,” said Bourgeois. Schwegmann Bank has assets of $34 million, while First American has assets of $373 million. First American takes pride in being a neighborhood bank and its ideals will be passed on to the new locations. Glenn Geddis, president of Schwegmann Bank, is sure the offices can live up to First American’s reputations, stating, “The emphasis at Schwegmann Bank has always been in providing the best service to our customers. We believe we found a partner who will continue and improve on that tradition.” With the acquisition of Schwegmann Bank, First American will have 24 offices located in St. James, Ascension, Assumption, Lafourche, Jefferson, St. Charles, St. John and Tangipahoa parishes.