Business First Bancshares, Inc. announced the successful completion of the acquisition of Progressive Bancorp, Inc. and its subsidiary, Progressive Bank.
The acquisition increases Business First's total assets to approximately $8.7 billion and expands b1BANK's presence across Louisiana.
Upon completion, George Cummings III, Progressive's chairman and CEO, joined the board of directors of both b1BANK and Business First.
Total Assets Increase
The acquisition boosts Business First's total assets to $8.7 billion.
Expansion in Louisiana
The acquisition expands b1BANK's presence in Louisiana with nine additional North Louisiana locations.
Key Leadership Changes
George Cummings III and David Hampton from Progressive joined b1BANK and Business First's boards and executive team after the acquisition.
- The acquisition strengthens Business First's position in the market with a significant increase in assets and expanded presence in Louisiana.
- The addition of Progressive's resources and customer base provides Business First with new opportunities for growth and market penetration.
The acquisition of Progressive Bank marks a strategic move for Business First Bancshares, Inc., positioning the company for continued success and growth in the financial sector.