Business First Expands North Louisiana Footprint With Progressive Bancorp Acquisition

Business First Bancshares, Inc. has completed its acquisition of Progressive Bancorp, Inc. and its subsidiary, Progressive Bank, significantly expanding its presence in North Louisiana and pushing total assets to approximately $8.7 billion.

The transaction strengthens Business First’s statewide footprint by adding nine North Louisiana branches and deepening its reach in a region that has become increasingly important to Louisiana’s economic growth.

“We love this opportunity to build upon the investments we’ve made for many years in this important part of our footprint,” said Jude Melville, chairman, president, and CEO of Business First. “Our teams have known each other for a long time and, given the similar cultural approaches and priorities of our respective organizations, it feels very much like coming home.”

With the acquisition finalized, Business First now reports approximately $6.6 billion in total loans and $7.2 billion in deposits. As of September 30, 2025, Progressive Bancorp held $752 million in assets, $669 million in deposits, and $70 million in total equity capital.

Beyond scale, the deal brings continuity in leadership. George Cummings III, Progressive’s chairman and CEO, has joined the boards of both Business First Bancshares and its banking subsidiary b1BANK. Progressive President David Hampton will serve as vice chairman for b1BANK’s North Louisiana market.

The transaction structure reflects a long-term investment strategy rather than a short-term consolidation play. Progressive shareholders received shares of Business First common stock, with cash paid in lieu of fractional shares.

“Our organizations share a commitment to relationship banking and to the communities we serve,” Melville said. “Together, we’ll be able to serve clients across North Louisiana more deeply than either institution could on its own.”

Advisory services for the transaction included Raymond James & Associates as financial advisor and Hunton Andrews Kurth LLP as legal counsel for Business First, while Progressive was advised by Mercer Capital Management and Munck Wilson Mandala.

The acquisition continues Business First’s steady expansion across Louisiana and Texas, reinforcing the role of locally headquartered banks in supporting small businesses, entrepreneurs, and regional development. As banking consolidation accelerates nationally, Business First’s strategy stands out for its focus on cultural alignment, market knowledge, and long-term investment in Louisiana communities.