BFST Completes Acquisition, Assets Rise to $7.6B

By Bobby Samwell • Friday, October 04 05:59 • Permanent Link

Business First Bancshares, Inc. (NASDAQ: BFST) has completed its acquisition of Oakwood Bancshares, Inc., the holding company for Oakwood Bank, effective October 1, 2024. With this acquisition, B1Bank now has approximately $7.6 billion in assets, up from the previous reported figure of $6.1 billion as of June 30, 2024. The loans have also increased to $5.9 billion, and deposits have risen to $6.3 billion. The company now operates 55 full-service banking centers and two loan production offices across Louisiana and Texas, expanding its presence in these areas. Additionally, the acquisition has brought in new leadership, with Roy J. Salley joining B1Bank as the regional chairman for Dallas and William G. Hall joining the boards of directors of Business First and B1Bank. These changes reflect Business First Bancshares, Inc.'s strategic expansion and increased market presence following the acquisition. As a result of these announcements, the company's shares have moved -0.3% on the market, and are now trading at a price of $24.06. If you want to know more, read the company's complete 8-K report here.

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