A longtime Avoyelles Parish-based bank plans to open a branch in Baton Rouge, its most ambitious expansion with hopes to better serve a growing base of banking customers in the capital region.
The Cottonport Bank broke ground on Corporate Boulevard on Monday to build its 12th branch, its third in the Baton Rouge metro region. Cottonport Bank operates branches in Brusly and New Roads.
A.J. Roy III, president and CEO of The Cottonport Bank, said the bank already had $17 million in loans in East Baton Rouge Parish and $6 million in deposits at other branches from customers in the greater Baton Rouge area and the future Baton Rouge location would only make doing business with The Cottonport Bank easier for them and hopefully, attract new customers.
“Baton Rouge is a fantastic place to be,” Roy said in a statement, adding that is just one of many of the reasons The Cottonport Bank wanted to be part of the capital city, he added.
“Over the past 15 years, we’ve grown considerably,” Roy said. “… It seems everywhere we go, we have organically grown into neighboring parishes.”
The Cottonport Bank was founded in 1902. The bank opened its New Roads branch in 1998, while the Brusly branch was opened in 2005.
The Baton Rouge location will be staffed by employees already part of the Brusly branch, say bank officials.