Gulf Coast Bank & Trust Company Acquires Minnesota-Based KLC Financial
NEW ORLEANS – Gulf Coast Bank & Trust Company announced it has acquired the assets of KLC Financial Inc. and KLC Capital Partners LLC. Founded in 1987 and located in Minnetonka, Minn., the company provides specialized lease solutions for vendors and commercial businesses nationwide.
“We are excited to welcome KLC to the Gulf Coast Bank & Trust Company family of companies. KLC will continue its existing leasing programs but will now have additional resources and reach that will enable it to serve even more customers across the United States,” said Gulf Coast Bank President and CEO Guy Williams in a press release. “The strong KLC management team will remain in place and will continue to manage its operations. There will be no layoffs as a result of this transaction. Instead, KLC will be looking for additional employees to help with its expansion. The integrity and work ethic of the KLC team make it a perfect fit for us at Gulf Coast Bank.”
“We are pleased to have forged this partnership with Gulf Coast Bank and view it as a natural progression for our team, customers, vendors and our strategies,” said KLC Chairman Marc Keepman. “This new alliance will allow us to preserve the strong culture we have built with our team.”
With over $3 billion in assets, Louisiana-based Gulf Coast Bank & Trust Company serves its business and personal banking clients through its bank branches, loan production offices, trust and investment offices and business credit offices. Gulf Coast Bank & Trust Company has 38 locations in eight states that include 19 bank branches across Southeast Louisiana.