Business First Bancshares, Inc. Names David R. “Jude” Melville III, Board Chair and Rolfe H. McCollister Jr., Lead Independent Director

Rhea-AI Summary

Business First Bancshares, Inc. (Nasdaq: BFST), the parent company of b1BANK, has announced significant changes in its board leadership. David R. "Jude" Melville III has been unanimously elected as the new board chair by the independent directors. Simultaneously, Rolfe H. McCollister Jr. has been appointed as the lead independent director.

Melville, who will continue his role as President and CEO, will now lead the board's agenda-setting process, focusing on strategic opportunities and risk management. McCollister, in his new position, will maintain substantial authority, including providing input on board agendas, calling meetings of independent directors, and setting agendas for executive sessions.

Positive

• David R. "Jude" Melville III appointed as board chair, potentially strengthening leadership continuity
• Rolfe H. McCollister Jr. named lead independent director, enhancing corporate governance

Negative

• None.

BATON ROUGE, La., July 30, 2024 (GLOBE NEWSWIRE) -- Business First Bancshares, Inc. (Nasdaq: BFST), the parent company of b1BANK, announced that the board's independent directors unanimously elected David R. “Jude” Melville III to the role of board chair and Rolfe H. McCollister Jr. as lead independent director.

“For nearly 20 years, Rolfe and I have been working successfully together in various capacities, alongside many others, on this important endeavor. I thank the board for this opportunity to continue partnering with him and them in this next phase of our company’s life,” said Melville.

In this role, Melville will lead the work to set the agenda for the board, leveraging his deep understanding of the business to elevate the right strategic opportunities and identify key risks and mitigation approaches for the board's review. In addition to serving as chair, Melville will continue to serve as President and CEO of the company. As lead independent director, McCollister will retain significant authority including providing input on behalf of the independent directors on board agendas, calling meetings of the independent directors, and setting agendas for executive sessions.

About Business First Bancshares, Inc.

As of June 30, 2024, Business First Bancshares, Inc., (Nasdaq: BFST), through its banking subsidiary b1BANK, has $6.7 billion in assets, $6.1 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.

Contact:

Misty Albrecht
b1BANK
225.286.7879
Misty.Albrecht@b1BANK.com

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6369a32c-3cd1-4a24-9a6f-525cd71ac287
https://www.globenewswire.com/NewsRoom/AttachmentNg/837ddb80-8c71-4c87-b024-1fa935867cbb

FAQ

Who was appointed as the new board chair of Business First Bancshares (BFST)?

David R. "Jude" Melville III was unanimously elected as the new board chair of Business First Bancshares (BFST) by the independent directors.

What is Jude Melville's role at Business First Bancshares (BFST) besides being board chair?

In addition to being appointed board chair, Jude Melville will continue to serve as President and CEO of Business First Bancshares (BFST).

Who was named lead independent director of Business First Bancshares (BFST)?

Rolfe H. McCollister Jr. was appointed as the lead independent director of Business First Bancshares (BFST).

What are Rolfe H. McCollister Jr.'s responsibilities as lead independent director of BFST?

As lead independent director of BFST, McCollister will provide input on board agendas, call meetings of independent directors, and set agendas for executive sessions.