Business First Bancshares (BFST) completed its acquisition of Progressive Bancorp and its wholly‑owned subsidiary Progressive Bank on January 5 2026, adding $752 million in assets and $669 million in deposits to its balance sheet. The deal brings BFST’s pro‑forma assets to roughly $8.7 billion, loans to $6.6 billion, and deposits to $7.2 billion, representing a 9% increase in assets over the $8.0 billion BFST reported as of September 30 2025.
The transaction adds nine new North Louisiana branches to the b1BANK network, boosting the bank’s footprint to 51 locations across the state. By integrating Progressive’s customer base, BFST strengthens its capital position and enhances liquidity, positioning the bank to support future growth initiatives such as expanding its correspondent banking platform and pursuing fee‑generating, capital‑efficient businesses.
Leadership integration underscores the strategic fit: Progressive’s former chairman and CEO George Cummings III joined BFST’s board, while Progressive’s president David Hampton became vice chairman of the North Louisiana market at b1BANK. Their local expertise and established relationships are expected to accelerate integration and deepen community ties.
Strategically, the acquisition deepens BFST’s presence in Louisiana, a market where it already commands a leading deposit share. The added assets and deposits provide a stronger foundation for pursuing growth in high‑margin fee‑based services and for leveraging synergies in loan and deposit management across the expanded network.
Management highlighted the deal’s alignment with BFST’s broader M&A strategy. CEO Jude Melville noted that the transaction “feels like coming home” and will allow the bank to serve clients more deeply across the region. Cummings emphasized that the partnership will give Progressive’s customers greater resources while preserving the community‑banking culture that has driven its success.
The acquisition fits into b1BANK’s ongoing strategy of growth through targeted acquisitions, following prior purchases of Oakwood Bancshares and Texas Citizens Bank. In a competitive Louisiana banking landscape, the deal is expected to solidify BFST’s leading deposit market share and enhance its competitive positioning.
Overall, the completion of the Progressive Bank acquisition marks a significant milestone in BFST’s strategy to diversify its geographic reach, strengthen its capital base, and accelerate growth in fee‑generating, capital‑efficient businesses.
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