Business First Bancshares, Inc., completes acquisition of Oakwood Bancshares, Inc.
Business First Bancshares, Inc. (Nasdaq: BFST), the holding company for b1BANK, has completed its acquisition of Oakwood Bancshares, Inc., the holding company for Oakwood Bank, effective Oct. 1, 2024. This strategic move strengthens b1BANK's presence in the Dallas-Fort Worth market, enhancing its ability to serve small and growing companies in the region.
Post-acquisition, b1BANK now boasts approximately $7.6 billion in assets, with $5.9 billion in loans and $6.3 billion in deposits. The bank's network has expanded to 55 full-service Banking Centers and two Loan Production Offices across Louisiana and Texas. Key leadership changes include Roy J. Salley joining as regional chairman for Dallas, and William G. Hall joining the boards of directors of Business First and b1BANK.
Business First Bancshares, Inc. (Nasdaq: BFST), la holding company di b1BANK, ha completato l'acquisizione di Oakwood Bancshares, Inc., la holding company di Oakwood Bank, a partire dal 1° ottobre 2024. Questa mossa strategica rafforza la presenza di b1BANK nel mercato di Dallas-Fort Worth, migliorando la sua capacità di servire piccole e in crescita aziende della regione.
Dopo l'acquisizione, b1BANK vanta ora circa 7,6 miliardi di dollari in attivi, con 5,9 miliardi di dollari in prestiti e 6,3 miliardi di dollari in depositi. La rete della banca si è espansa a 55 centri bancari a servizio completo e due uffici di produzione prestiti in Louisiana e Texas. Tra i cambiamenti chiave nella leadership ci sono Roy J. Salley, che si unisce come presidente regionale per Dallas, e William G. Hall, che entra nei consigli di amministrazione di Business First e b1BANK.
Business First Bancshares, Inc. (Nasdaq: BFST), la empresa matriz de b1BANK, ha completado su adquisición de Oakwood Bancshares, Inc., la empresa matriz de Oakwood Bank, con efecto desde el 1 de octubre de 2024. Este movimiento estratégico fortalece la presencia de b1BANK en el mercado de Dallas-Fort Worth, mejorando su capacidad para servir a pequeñas y crecientes empresas en la región.
Tras la adquisición, b1BANK ahora cuenta con aproximadamente 7.6 mil millones de dólares en activos, con 5.9 mil millones de dólares en préstamos y 6.3 mil millones de dólares en depósitos. La red del banco se ha expandido a 55 centros bancarios de servicio completo y dos oficinas de producción de préstamos en Luisiana y Texas. Los cambios clave en el liderazgo incluyen a Roy J. Salley como presidente regional para Dallas y a William G. Hall en los consejos de administración de Business First y b1BANK.
Business First Bancshares, Inc. (Nasdaq: BFST), b1BANK의 지주 회사가 Oakwood Bancshares, Inc. 인수 완료, Oakwood Bank의 지주 회사로서, 2024년 10월 1일부터 시행됩니다. 이 전략적 결정은 b1BANK의 다라스-포트워스 시장에서의 입지를 강화하며, 지역 내 소규모 및 성장 중인 기업에 대한 서비스 능력을 향상시킵니다.
인수 후, b1BANK는 현재 약 76억 달러의 자산을 보유하고 있으며, 59억 달러의 대출과 63억 달러의 예금을 포함하고 있습니다. 은행의 네트워크는 루이지애나와 텍사스 전역에 55개의 풀 서비스 은행 센터 및 두 개의 대출 생산 사무소로 확대되었습니다. 주요 리더십 변경 사항에는 로이 J. 샐리(Roy J. Salley)가 다라스 지역 의장으로 합류하고, 윌리엄 G. 홀(William G. Hall)이 Business First 및 b1BANK의 이사회에 합류합니다.
Business First Bancshares, Inc. (Nasdaq: BFST), la société mère de b1BANK, a achevé son acquisition d'Oakwood Bancshares, Inc., la société mère d'Oakwood Bank, à compter du 1er octobre 2024. Ce mouvement stratégique renforce la présence de b1BANK sur le marché de Dallas-Fort Worth, améliorant sa capacité à servir les petites entreprises en croissance de la région.
Après l'acquisition, b1BANK possède désormais environ 7,6 milliards de dollars d'actifs, avec 5,9 milliards de dollars de prêts et 6,3 milliards de dollars de dépôts. Le réseau bancaire s'est étendu à 55 centres bancaires à service complet et deux bureaux de production de prêts à travers la Louisiane et le Texas. Parmi les changements clés dans la direction, Roy J. Salley rejoint en tant que président régional pour Dallas, et William G. Hall rejoint les conseils d'administration de Business First et b1BANK.
Business First Bancshares, Inc. (Nasdaq: BFST), die Holdinggesellschaft von b1BANK, hat die Übernahme von Oakwood Bancshares, Inc. abgeschlossen, der Holdinggesellschaft von Oakwood Bank, mit Wirkung zum 1. Oktober 2024. Dieser strategische Schritt stärkt die Präsenz von b1BANK im Dallas-Fort Worth Markt und verbessert die Fähigkeit, kleinen und wachsenden Unternehmen in der Region zu dienen.
Nach der Übernahme verfügt b1BANK nun über ungefähr 7,6 Milliarden Dollar an Vermögenswerten, einschließlich 5,9 Milliarden Dollar an Krediten und 6,3 Milliarden Dollar an Einlagen. Das Netzwerk der Bank hat sich auf 55 Vollservice-Banking-Zentren und zwei Kreditproduktionsbüros in Louisiana und Texas ausgeweitet. Zu den wichtigen Führungswechseln gehört Roy J. Salley, der als Regionalvorsitzender für Dallas eintritt, und William G. Hall, der in die Aufsichtsräte von Business First und b1BANK eintritt.
- Acquisition expands b1BANK's presence in the Dallas-Fort Worth market
- Increases b1BANK's total assets to approximately $7.6 billion
- Expands network to 55 full-service Banking Centers and two Loan Production Offices
- Strengthens leadership team with addition of experienced executives from Oakwood
- None.
Insights
The acquisition of Oakwood Bancshares by Business First Bancshares marks a significant expansion in the Dallas-Fort Worth market. This strategic move increases b1BANK's assets to approximately
This acquisition is likely to enhance Business First's market presence and potentially drive revenue growth. The integration of Oakwood's operations could lead to cost synergies and improved operational efficiency. However, investors should monitor the integration process, as mergers can sometimes lead to short-term challenges.
The addition of key Oakwood executives to b1BANK's leadership team suggests a smooth transition and potential for leveraging local market expertise. This move could help in retaining valuable clients and expanding the customer base in the competitive Dallas-Fort Worth market.
The acquisition of Oakwood Bancshares by Business First Bancshares is a strategic market expansion that could significantly impact the company's competitive position. The Dallas-Fort Worth market is one of the fastest-growing metropolitan areas in the U.S., offering substantial opportunities for banking services.
This move aligns with the trend of regional bank consolidation, which aims to achieve economies of scale and compete more effectively with larger national banks. The expanded asset base and geographical reach could potentially lead to increased market share and improved product offerings for customers.
Investors should consider the long-term growth potential this acquisition brings, particularly in terms of cross-selling opportunities and the ability to serve a broader range of clients. However, it's important to monitor the integration process and any potential cultural clashes that could arise from merging two distinct organizations.
BATON ROUGE, La., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Business First Bancshares, Inc. (Business First) (Nasdaq: BFST), the holding company for b1BANK, has completed its acquisition of Oakwood Bancshares, Inc. (Oakwood), the holding company for Oakwood Bank. The acquisition became effective Oct. 1, 2024.
“b1 has been serving Dallas-Fort Worth market businesses with our boutique style banking for a number of years, as has Oakwood,” said Jude Melville, chairman, president and CEO of Business First and b1BANK. “This partnership accelerates the meaningfulness we can deliver as we impact small and growing companies in one of our country’s most vibrant markets.”
With the completion of the acquisition, b1BANK has approximately
Raymond James & Associates, Inc. rendered a fairness opinion to Business First, and Hunton Andrews Kurth LLP served as legal counsel to Business First. Stephens Inc. served as financial advisor to Oakwood, and Norton Rose Fulbright US, LLP served as legal counsel to Oakwood.
About Business First Bancshares, Inc.
As of June 30, 2024, Business First Bancshares, Inc., (Nasdaq: BFST) through its banking subsidiary b1BANK and after giving effect to the acquisition of Oakwood Bancshares, Inc., has approximately
Additional Information
For additional information on Business First, you may obtain Business First’s reports that are filed with the Securities and Exchange Commission (SEC) free of charge by using the SEC’s EDGAR service on the SEC’s website at www.sec.gov or by contacting the SEC for further information at 1-800-SEC-0330. Alternatively, these documents can be obtained free of charge from Business First by directing a request to: Business First Bancshares, Inc., 500 Laurel Street, Suite 100, Baton Rouge, Louisiana 70801, Attention: Corporate Secretary.
Misty Albrecht
b1BANK
225.286.7879
Misty.Albrecht@b1BANK.com
FAQ
When did Business First Bancshares (BFST) complete the acquisition of Oakwood Bancshares?
What are the post-acquisition assets of b1BANK after the Oakwood Bancshares merger?
How many banking centers does b1BANK have after acquiring Oakwood Bancshares?
What new leadership positions were created at b1BANK as a result of the BFST-Oakwood merger?
