BATON ROUGE — Baton Rouge-based Investar Bank's parent company announced Monday that it has agreed to acquire the Texas-based First National Bank.

Investar will more than triple its presence in Texas from the acquisition of First National Bank's parent Wichita Falls Bancshares, as well as increase its portfolio of assets to more than $4 billion.

First National operates seven branches in Texas, bringing Investar's total to 10 branches after the merger.

"The merger of First National Bank and Investar Bank brings together two banks that share a common tradition, culture and commitment to community banking. This merger will allow us to bring new products and services to our customers while keeping the same banking locations and trusted local bankers. We believe this merger creates more long-term value for our customers, communities and shareholders," President of Wichita Falls David Flack said.

According to Investar, the merger is part of a continued expansion into states across the Gulf Coast. Before the merger, the company, founded in 2006, operated nearly 30 branches across the region.

This merger is Investar's seventh acquisition across the Gulf Coast, with this being the second in Texas.