Business First Bancshares, the holding company for b1BANK, has completed its acquisition of Oakwood Bancshares, the holding company for Oakwood Bank. The acquisition became effective Oct. 1, 2024.
“b1 has been serving Dallas-Fort Worth market businesses with our boutique style banking for a number of years, as has Oakwood,” Jude Melville, chairman, president and CEO of Business First and b1BANK, said. “This partnership accelerates the meaningfulness we can deliver as we impact small and growing companies in one of our country’s most vibrant markets.”
With the completion of the acquisition, b1BANK has approximately $7.6 billion in assets, with $5.9 billion in loans and $6.3 billion in deposits and 55 full-service banking centers and two loan production offices across Louisiana and Texas.
Roy J. Salley, chairman and CEO of Oakwood Bank, joined b1BANK as regional chairman in Dallas, and William G. Hall, chairman of Oakwood Bancshares, will join the boards of directors of Business First and b1BANK.
Raymond James & Associates rendered a fairness opinion to Business First, and Hunton Andrews Kurth served as legal counsel to Business First. Stephens served as financial advisor to Oakwood, and Norton Rose Fulbright U.S. served as legal counsel to Oakwood.
