In September, Business First Bancshares, the holding company for Baton Rouge, Louisiana-based b1BANK, received regulatory approvals to complete its merger with Oakwood Bancshares, the holding company for Dallas-based Oakwood Bank, a Texas banking association.
“We appreciate our regulatory partners’ efficient review of the proposed transaction as well as the strong affirmation expressed by the Oakwood shareholder base,” says Jude Melville, chairman, president and CEO of Business First and b1BANK. “We are even more excited about the long-term potential of this relationship than when we first announced it.”
With the acquisition, it is expected that b1BANK’s assets will increase to approximately $7.6 billion, with more than $5.9 billion in consolidated total loans. It will also add four full-service banking centers to b1BANK’s footprint in the Dallas/Fort Worth metropolitan area, as well as one branch each in Snyder and Oakwood. Roy J. Salley, chairman and CEO of Oakwood Bank, will join b1BANK as regional chairman/Dallas and William G. Hall, chairman of Oakwood Bancshares, will be appointed to the boards of directors of Business First Bancshares and b1BANK.
