Argent Financial Group, Heritage Trust to Combine

  • March 12, 2015

Ruston, Louisiana– Argent Financial Group today announced that it has entered into a agreement to combine the two firms with Oklahoma City-based Heritage Trust Company in a move that will significantly broaden Heritage Trust’s geographic reach and complement Argent Financial’s trust, wealth management and mineral management services. The combined firms will be responsible for over $10 billion in financial assets and more than two million acres in client mineral assets.

 

Heritage Trust, founded in Oklahoma City 17 years ago, is an independent, privately-owned trust bank offering trust administration, investment management, mineral and real estate management, and financial planning. Following completion of the combination, Heritage Trust will retain its name and management team, led by Bond Payne and Mike Carroll, founders of Heritage Trust. The company will continue to operate as a local, independent trust company in Oklahoma City. Heritage will become the largest shareholder of Argent and will have key roles on the board and executive management team.

 

“Heritage was not for sale, and we are not cashing out,” Payne said. “This was an opportunity for us to leverage what we have built into a larger platform that can better serve our clients and community, while providing growth opportunities to our employees. We are excited about the additional resources that Argent brings to our clients and the opportunity to share our unique services with them.

 

“Choosing to partner with the Argent family was done after years of working together and watching our respective businesses grow. We share the same values and commitment to clients, and we will be stronger together. Argent understands the value that an independent wealth management firm brings to its clients. Together, we will offer a depth and range of trust and investment services, mineral and real estate management, and retirement plan advisory services that is unmatched by any other service provider in the South.”

 

Argent Financial Group is a full-service, trust-based wealth management firm that provides clients with a broad array of wealth management services built from its core of trust management. Argent, operating in 18 offices across nine southern states, celebrates its 25th anniversary this year.

 

Payne will remain chairman of Heritage Trust and join Argent Financial Group’s board of directors as vice chairman for corporate development.

 

“We are very fortunate to add Bond and his talented team at Heritage Trust to our expanding, trust services-based Argent family,” said Argent CEO Kyle McDonald. “Argent’s approach is to have highly experienced, local professionals lead our subsidiaries, while providing the full resources, experience and technological support of a major regional wealth management organization, all from a core based on sound fiduciary principles. We look forward to growing together.”

 

About Heritage Trust Company

Founded in 1998, Heritage Trust Company is an independent, privately-owned trust bank that offers trust administration, investment management, mineral and real estate management, and financial planning. With offices in Oklahoma City and Ponca City, Oklahoma, Heritage Trust serves clients throughout the United States and in foreign countries. For more information, visit www.heritagetrust.com.

 

About Argent Financial Group

Argent Financial Group, domiciled in Ruston, Louisiana, was formed in 1990 and traces its roots back to 1930.  Responsible for more than $10 billion in client assets, Argent Financial Group provides individuals, institutions and businesses in the Southern U.S. with a broad range of wealth management services including trust administration and related services, investment management, family office services, retirement plan and charitable organization administration, mineral (oil and gas) rights management, and financial, retirement and estate planning.  For more information, visit www.ArgentFinancial.com.

 

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