Baton Rouge, LA-based Business First Bancshares completed its acquisition of Minden Bancorp. Going forward, the company will be doing business under the Business First banner.
“This merger is another important momentum builder for us on our journey to be the region’s most influential business-focused community bank,” said Jude Melville, president and CEO of Business First. “We welcome MBL Bank customers and employees to Business First Bank and are looking forward to working and growing together in the coming years,” added Mr. Melville.
MBL Bank’s banking centers in Minden will continue to operate as branches of Business First Bank. Jack E. Byrd Jr., the former president and CEO of MBI and MBL Bank, will serve as a director on the boards of both Business First and Business First Bank and as chairman of Business First Bank’s Northwest Region.
With the completion of the acquisition, Business First has approximately $1.6 billion in assets, $1.2 billion in loans and $1.3 billion in deposits and now serves its customers from 18 full-service banking centers.
Stephens and National Capital acted as financial advisors, and Fenimore, Kay, Harrison & Ford, acted as legal advisor to Business First. Banks Street Partners acted as financial advisor and rendered a fairness opinion, and Phelps Dunbar acted as legal advisor to Minden Bancorp.
