Business First Bancshares, Inc. (BFST): M&A transaction — BFST closes Oakwood Bancshares acquisition; issues ~3.9M shares; combined assets $7.6B

Business First Bancshares, Inc.

Acquisition effective Oct. 1, 2024; each Oakwood share exchanged for 0.5112 BFST shares.
Total consideration ~3,914,022 shares of BFST common stock issued.
Pro forma b1BANK has $7.6B assets, $5.9B loans, $6.3B deposits, 55 banking centers.
William G. Hall appointed to BFST and b1BANK boards; Roy J. Salley named regional chairman, Dallas.

item 2.01 item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

William G. Hall

Director

BFST · Business First Bancshares, Inc.

Filed: October 3, 2024, 7:59 PM ET

appointed Mr. William G. Hall to the BFST Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

William G. Hall was appointed as Director at Business First Bancshares, Inc..

Action: appointed
Role: Director

Exact text from the filing

appointed Mr. William G. Hall to the BFST Board.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Business First Bancshares, Inc. completed an acquisition involving Oakwood Bancshares, Inc. for approximately 3,914,022 shares of BFST common stock (closed 2024-10-01).

Action: acquisition
Counterparty: Oakwood Bancshares, Inc.
Consideration: approximately 3,914,022 shares of BFST common stock
Closing: 2024-10-01

Exact text from the filing

award and Oakwood restricted stock unit award, as applicable, without interest. The total aggregate consideration delivered to holders of Oakwood common stock was approximately 3,914,022 shares of BFST common stock. The issuance of shares of BFST common stock in connection with the Merger was registered under the Securities Act of 1933, as amended (the “Securities

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Business First Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-030643

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