Business First Bancshares completes acquisition of Texas Citizens Bancorp, expanding to Houston

Business First Bancshares, Inc.

Deal closed March 1, 2022; TCBI shareholders received 0.7038 BFST shares per TCBI share, ~2.1M shares issued.
BFST assumed $26.4M in TCBI subordinated notes: $8.9M at 8.00%, $10M at 6.25%, $7.5M at 6.375%.
Combined b1BANK has ~$5.3B assets, $3.6B loans, $4.6B deposits; adds 6 Houston locations for 48 total Banking Centers.
Duncan Stewart (ex-TCBI CEO) named Houston region chairman; Mike Cornett as vice chair; Don Hingle as regional president Houston.

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