b1BANK Announces Plans to Relocate and Expand Downtown Lake Charles Banking Center

Rhea-AI Summary

B1BANK has announced plans to relocate its Ryan Street location to a new facility in downtown Lake Charles later this year, driven by significant growth in the area since 2009. The new building, located at 825 Ryan Street, will offer larger space, additional parking, a drive-thru service, and an Interactive Teller Machine for extended access to banking services. The design will reflect local historic architecture while incorporating modern technologies for storm resilience. Business First Bancshares, Inc. (Nasdaq: BFST), the parent company, manages $5.8 billion in assets and operates throughout Louisiana and parts of Texas, offering a range of commercial and personal banking services.

Positive

• Significant growth in the Lake Charles market necessitating a larger facility.
• New location will enhance service offerings with additional parking and ITM.
• Design will include historic elements and modern storm-resilient technologies.

Negative

• None.

Baton Rouge, LA, Jan. 19, 2023 (GLOBE NEWSWIRE) --  b1BANK today announced plans to relocate its Ryan Street location to a new building in downtown Lake Charles later this year. The bank has been a part of the Lake Charles community since 2009.

“We have experienced significant growth in the Lake Charles market and require a larger facility to better serve our current clients’ needs and the community,” said Jeffrey Davis, market president, b1BANK. “As we continue to grow, it is important that we remain active in efforts to rebuild and revitalize downtown.”

The new b1BANK location will be 825 Ryan Street, currently an empty lot due to past hurricane damage, a short distance from the bank’s current location on Ryan Street. Plans for the new location include additional parking, a drive-thru service option and an Interactive Teller Machine (ITM) which will provide clients with access to a live teller before and after normal business hours.

“The building design will reflect some of the historic architecture of the downtown area,” said Matt Redd, developer, Redd Properties. “We will also incorporate modern building technology to help prevent damage from future storms.”

b1BANK and The Southwest Louisiana Economic Development Alliance will announce a grand opening and ribbon cutting ceremony when construction is complete.

About Business First Bancshares, Inc.

As of September 30, 2022, Business First Bancshares, Inc. (Nasdaq: BFST), through its banking subsidiary b1BANK, has $5.8 billion in assets, $6.3 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (excludes $0.9 billion of b1BANK assets managed by SSW) and operates Banking Centers and Loan Production Offices in markets across Louisiana and the Dallas and Houston, Texas areas, providing commercial and personal banking products and services. Commercial banking services include commercial loans and letters of credit, working capital lines and equipment financing, and treasury management services. b1BANK was awarded #1 Best-In-State Bank, Louisiana, by Forbes and Statista, and is a multiyear winner of American Banker’s “Best Banks to Work For.” Visit b1BANK.com for more information.  

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Attachment

• b1BANK Coming Soon to Lake Charles

FAQ

What are B1BANK's plans for its Lake Charles location in 2023?

B1BANK plans to relocate its Ryan Street location to a new building downtown to accommodate growth.

What features will the new B1BANK facility include?

The new facility will have additional parking, a drive-thru, and an Interactive Teller Machine.

When is B1BANK expected to open its new location in Lake Charles?

The grand opening and ribbon-cutting ceremony will be announced upon construction completion.

What financial metrics does Business First Bancshares, Inc. (BFST) manage?

As of September 30, 2022, BFST manages $5.8 billion in assets and $6.3 billion in assets under management through its affiliate.

How long has B1BANK been part of the Lake Charles community?

B1BANK has been serving the Lake Charles community since 2009.