Home Federal Bancorp completes merger with Northwest Bancshares

Home Federal Bancorp, Inc. of Louisiana announced the completion of the acquisition of Northwest Bancshares Corporation and its wholly-owned subsidiary, First National Bank of Benton, effective as of February 1, 2023. Under the terms of the Merger Agreement, shareholders of NWB will receive $128.16 in cash for each share of NWB common stock they hold. As of the effective time of the Merger, and in accordance with the terms of the Merger Agreement, John A. Batson, President and Chief Executive Officer of FNBB was named Senior Vice President and Benton Market Manager of Home Federal Bank. With the combination of the two organizations, Home Federal, on a consolidated basis, has approximately $661 million in assets, $481 million in loans and $585 million in deposits. Home Federal plans to operate the existing branch of FNBB as a Division of Home Federal Bank through May, 2023.