News Summary
Business First Bancshares has revealed plans to acquire Progressive Bancorp for approximately $83 million, effectively doubling its presence in northern Louisiana to 18 locations. This acquisition aims to enhance competitiveness in the region and improve deposit profiles. In a parallel development, Investar Bank is also set to acquire First National Bank in Texas for a similar amount, highlighting an active trend of mergers in the banking sector. Both deals are expected to enhance operational efficiencies and market shares for the involved institutions.
Baton Rouge – Business First Bancshares has announced its plans to acquire Progressive Bancorp in a deal valued at approximately $83 million. This acquisition will significantly expand Business First’s presence in northern Louisiana, doubling its footprint to 18 locations which will bolster its competitiveness in the region.
The strategic announcement comes closely on the heels of a similar move by Investar Bank, which is set to acquire First National Bank in Wichita Falls, Texas, also for around $83 million. These developments indicate an active trend in the banking sector, as institutions seek to strengthen their market positions amidst a bundling of resources and services.
Business First, headquartered in Baton Rouge, currently holds 2.3% of the deposits in the four counties served by Progressive Bancorp, while Progressive has a more substantial share of 5%. The acquisition is anticipated to enhance Business First’s deposit and liquidity profiles, as well as deliver considerable cost savings. It is expected to generate 45% savings in Progressive’s operating expenses, making the deal more attractive from a financial standpoint.
Projected outcomes of the acquisition estimate that it will be 10% accretive to earnings by 2026. Upon completion in early 2026, Business First’s total assets are expected to swell to $8.5 billion, significantly increasing its market share and lending capacity in the region.
Progressive Bancorp operates nine branches located in key areas including Shreveport, Monroe, Bossier City, and Winnsboro. The current leadership structure suggests that Progressive’s President, David Hampton, will transition to the role of vice chair for the north Louisiana market under b1BANK, while CEO George Cummings III will join the boards of both organizations. This leadership transition is aimed at ensuring a seamless integration post-acquisition.
In regards to Investar Bank, its acquisition of First National Bank would see its Texas branches increase from three to ten. This move is expected to create a strategic advantage, enhancing Investar’s total assets by exceeding $4 billion. In preparation for the acquisition, Investar has secured $32.5 million through the sale of preferred stock, which will assist in funding the purchase, set to be approximately $83.6 million in cash and stock.
First National Bank operates seven branches in Texas, where Investar runs nearly thirty branches across the Gulf Coast, further bolstering its geographic footprint. In highlighting the appeal of this merger, Investar’s CEO noted the inherent focus on community banking as a pivotal reason for the collaboration with First National Bank.
The overall banking sector has witnessed a significant rise in mergers and acquisitions, clocking in at 71 deals so far in 2025. However, this figure remains below initial projections, suggesting that while activity is on the rise, it has not yet met previous expectations.
As the banking landscape continues to evolve, these acquisitions by Business First and Investar symbolize a broader trend within the industry aimed at enhancing competitive advantages, increasing market shares, and offering more robust services to customers across Louisiana and Texas.
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Additional Resources
- Banking Dive: Business First Bancshares Acquires Progressive Bancorp
- WBRZ: Investar Bank Acquires First National Bank
- The Advocate: Investar Bank to Acquire North Texas Bank
- Wikipedia: Banking
- GlobeNewswire: Business First Bancshares Completes Acquisition
- Google Search: Investar Bank acquisition
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.
