Question 1

What is Basile State Bank?

Accepted Answer

Basile State Bank is a community-oriented commercial bank serving southwest Louisiana's Acadia Parish and surrounding areas within the Lafayette metropolitan statistical area. As of June 2024, the bank maintains approximately $82.4 million in total assets and $73.2 million in deposits.

The institution operates as a state-chartered commercial bank under FDIC supervision and is a wholly-owned subsidiary of Basile Bancshares, Inc., a Louisiana bank holding company. With 3 full-service offices and 22 employees, Basile State Bank emphasizes the combination of big bank products with small-town customer service.

Question 2

When was Basile State Bank founded?

Accepted Answer

Basile State Bank was established on July 2, 1956, nearly 70 years ago. The bank was founded to serve the banking needs of the small rural community of Basile and the surrounding agricultural areas of Acadia Parish in southwest Louisiana.

Over the decades, the institution has expanded from its original location to serve neighboring communities. In 2024, the bank celebrated a significant milestone with a groundbreaking ceremony in Eunice, Louisiana, for a new branch location timed to coincide with the bank's upcoming 30th anniversary of its current corporate structure.

Question 3

Where is Basile State Bank headquartered?

Accepted Answer

Basile State Bank is headquartered in Basile, Louisiana, a small town in Acadia Parish. The main office is located at 3031 Stagg Avenue, Basile, LA 70515.

Basile is a rural community in southwest Louisiana, positioned within the Lafayette metropolitan area, which serves as the economic and cultural hub of Acadiana region.

Question 4

Where does Basile State Bank operate?

Accepted Answer

Basile State Bank operates 3 full-service banking offices concentrated in Acadia and St. Landry parishes in southwest Louisiana. The bank's locations include:
• Main Office: Basile, Acadia Parish
• Branch Office: Evangeline, Acadia Parish (751 West Maple Avenue)
• Branch Office: Eunice, St. Landry Parish (Highway 190 location near Walmart)

All locations fall within the Lafayette, LA metropolitan statistical area, allowing the bank to serve both rural agricultural communities and the more urbanized areas of Acadiana. The bank's geographic footprint is strategically focused on southwest Louisiana's Cajun Country.

Question 5

What services does Basile State Bank offer?

Accepted Answer

Basile State Bank provides a comprehensive range of traditional community banking services for both personal and business customers:

Personal Banking: Checking accounts (including their signature "Lagniappe" checking account), savings accounts, certificates of deposit (CDs), individual retirement accounts (IRAs), consumer loans, real estate lending, and credit cards.

Business Banking: Business checking and savings accounts, commercial and industrial loans, business lines of credit, and commercial real estate financing. As of June 2024, the bank held approximately $4.1 million in commercial and industrial loans.

Digital Banking Services: Mobile banking app (iOS and Android), online banking platform, mobile deposit capture, online bill pay, and account management tools that allow customers to access their accounts 24/7.

Additional Services: Safe deposit boxes in various sizes, wire transfers (domestic), night deposit facilities, ATMs at branch locations, cashier's checks, money orders, and notary services.

Question 6

What makes Basile State Bank unique?

Accepted Answer

Community Banking Heritage: With nearly 70 years of continuous service since 1956, Basile State Bank has deep roots in southwest Louisiana's Cajun communities, maintaining the independent, locally-focused banking model that has become increasingly rare in modern banking.

Strong Financial Performance: The bank demonstrates solid financial health with a Return on Assets (ROA) of 1.37% and Return on Equity (ROE) of 13.33%, both well above industry averages for community banks. The institution maintains a Community Bank Leverage Ratio qualifying it for simplified regulatory capital requirements.

Local Ownership and Control: Basile State Bank remains under local ownership through Basile Bancshares, Inc., with significant ownership held by the Johnson and Burson families of the Eunice and Basile areas. This local control ensures decision-making stays within the community.

Focused Lending Portfolio: The bank specializes in real estate lending (approximately $47.9 million in real estate-secured loans) and consumer lending ($5.1 million in consumer loans), reflecting its commitment to helping local families buy homes and businesses grow in Acadiana.

Question 7

What type of financial institution is Basile State Bank?

Accepted Answer

Basile State Bank is a State Commercial Bank chartered under Louisiana state banking laws. It operates as a full-service community bank, meaning it accepts deposits and makes loans to both individuals and businesses within its local market area.

The bank is regulated by the Federal Deposit Insurance Corporation (FDIC) as its primary federal regulator, providing deposit insurance up to applicable limits. Basile State Bank is not a member of the Federal Reserve System but maintains correspondent banking relationships for services such as wire transfers and cash management.

As a state-chartered institution, the bank is also supervised by Louisiana state banking authorities in addition to federal oversight. The bank is organized as an S-Corporation for tax purposes and does not exercise fiduciary powers or trust services. This traditional community banking model focuses on relationship-based lending and deposit-taking within a defined geographic market rather than pursuing complex financial services or regional expansion.

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