News Summary
b1Bank has announced a $79.9 million acquisition of Progressive Bank, bolstering its presence in North Louisiana. This strategic move involves b1Bank issuing over 3 million shares to Progressive Bank shareholders, aiming to enhance services and expand market reach. The acquisition, endorsed by both banks’ boards, awaits regulatory and shareholder approval. The deal is anticipated to close in early 2026, further solidifying b1Bank’s position as the largest Louisiana-based bank with a significant increase in total assets and loans.
Baton Rouge, Louisiana – b1Bank has officially announced its plan to acquire Progressive Bank in a deal valued at $79.9 million. This acquisition is poised to strengthen b1Bank’s foothold in North Louisiana, enabling the larger bank to expand its market presence and enhance its financial services in the region.
The transaction involves b1Bank issuing more than 3 million shares of stock to shareholders of Progressive Bank, who will then own approximately a 9.3% stake in the combined entity once the deal is finalized. As of Tuesday morning, b1Bank shares were trading at $26.20 each.
The boards of directors of both b1Bank and Progressive Bank have unanimously approved the acquisition. However, the finalization of the deal is contingent upon receiving approval from regulatory bodies as well as the shareholders of Progressive Bank.
Progressive Bank’s Operations
Progressive Bank has a long-standing history, having been operational for 50 years and based in Winnsboro, Louisiana. The bank currently operates nine branches located in Winnsboro, Monroe, West Monroe, Bossier City, and Shreveport. As of June 2024, Progressive Bank reported $680.7 million in deposits and total assets amounting to $752 million, alongside $65 million in equity capital as of March 31, 2025.
Impact on b1Bank
Headquartered in Baton Rouge, b1Bank stands out as the largest Louisiana-based bank, boasting nearly $5.6 billion in total deposits. The acquisition is projected to boost the bank’s total assets to around $8.5 billion and increase total loans to over $6.6 billion. This strategic move is expected to be accretive to earnings by 10% in 2026, marking a significant enhancement in both banks’ operational efficiencies.
According to b1Bank’s chairman, president, and CEO, the acquisition will not only deepen their impact within Louisiana but will also fortify their deposit and liquidity profiles, allowing for an improved service to the communities they serve. George Cummings III, the chairman and CEO of Progressive Bank, is anticipated to join the board of directors at b1Bank once the acquisition is completed. Additionally, David Hampton, currently the president of Progressive Bank, will take on the role of vice chairman for b1Bank’s north Louisiana market.
Future Outlook
The acquisition deal is expected to close in early 2026, solidifying b1Bank’s leading position in deposit market share among Louisiana-based banks. Through this merger, both institutions aim to enhance their service offerings to the community while achieving greater operational efficiencies.
In summary, this acquisition exemplifies b1Bank’s commitment to growth within the state of Louisiana. By integrating Progressive Bank’s assets and services, b1Bank is poised to better serve the financial needs of the local population while expanding its regional influence.
Deeper Dive: News & Info About This Topic
HERE Resources
Business First Bancshares to Acquire Progressive Bancorp
Business First Bancshares to Acquire Progressive Bancorp
Business First Bancshares Plans $83 Million Acquisition
Additional Resources
- The Advocate
- GlobeNewswire
- Business Report
- Retail Banker International
- Banking Dive
- Wikipedia: Banking in the United States
- Google Search: Bank acquisitions in Louisiana
- Google Scholar: Bank mergers and acquisitions
- Encyclopedia Britannica: Banking
- Google News: b1Bank
Author: STAFF HERE SHREVEPORT WRITER
The SHREVEPORT STAFF WRITER represents the experienced team at HEREShreveport.com, your go-to source for actionable local news and information in Shreveport, Caddo Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mudbug Madness Festival, Red River Revel Arts Festival, and Independence Bowl. Our coverage extends to key organizations like the Shreveport-Bossier Chamber of Commerce and Shreveport Regional Arts Council, plus leading businesses in gaming, healthcare, and energy that power the local economy such as Horseshoe Casino, Ochsner LSU Health, and Atmos Energy. As part of the broader HERE network, including HEREBatonRouge.com and HERENewOrleans.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
