04:16 PM EDT, 07/07/2025 (MT Newswires) -- Business First Bancshares ( BFST ) said late Monday it will acquire Progressive Bancorp and its subsidiary Progressive Bank to expand its presence in the North Louisiana market.

Financial terms were not disclosed.

Under the agreement, Business First will issue about 3.05 million common shares to Progressive shareholders, who will own approximately 9.3% of the combined company.

Progressive CEO George Cummings will join the boards of Business First and b1BANK upon closing. Progressive President David Hampton will become vice chairman of b1BANK's North Louisiana market.

The deal is expected to close in Q1 2026, pending regulatory and Progressive shareholder approvals.