Business First Bancshares, Inc. and Pedestal Bancshares, Inc. Shareholders Approve Pending Merger
BATON ROUGE, La., April 22, 2020 (GLOBE NEWSWIRE) -- Business First Bancshares, Inc. (Business First) (NASDAQ: BFST), the holding company for b1BANK, and Pedestal Bancshares Inc. (Pedestal) have jointly announced that as of April 21, 2020, shareholders of both holding companies have approved the previously announced merger.
The pending transaction first announced on January 22, 2020, has received all customary regulatory approvals, and is expected to close May 1, 2020.
About Business First Bancshares, Inc.
Business First Bancshares, Inc., through its banking subsidiary b1BANK, formerly known as Business First Bank, operates 26 banking centers in markets across Louisiana and in the Dallas, Texas area.
b1BANK provides commercial and personal banking, treasury management and wealth solutions services to small to midsize businesses and their owners and employees. Visit www.b1BANK.com for more
information. Business First’s common stock is traded on the NASDAQ Global Select Market under the symbol “BFST.”
Special Note Regarding Forward-Looking Statements
Statements in this press release may not be based on historical facts and may be “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by reference to future period(s) or by the use of forward-looking
terminology, such as “anticipate,” “estimate,” “expect,” “foresee,” “may,” “might,” “will,” “would,” “could” or “intend,” future or conditional verb tenses, and variations or negatives of such
terms. These forward-looking statements include, without limitation, statements relating to (i) the expected impact of the proposed transaction between Business First and Pedestal (the “Proposed
Transaction”) on the combined entities’ operations, financial condition, and financial results, (ii) expectations regarding the ability of Business First to successfully integrate the combined
businesses, and (iii) the amount of cost savings and other benefits that are expected to be realized as a result of the Proposed Transaction. Readers are cautioned not to place undue reliance on
the forward-looking statements contained in this press release because actual results could differ materially from those indicated in such forward-looking statements due to a variety of factors.
These factors, include, but are not limited to, the ability to satisfy all closing conditions required to complete the Proposed Transaction, difficulties and delays in integrating the Pedestal
businesses or fully realizing cost savings from and other anticipated benefits of the Proposed Transaction, business disruption during and following the Proposed Transaction, changes in interest
rates and capital markets, inflation, customer acceptance of the combined business’s products and services, risk and uncertainties related to the impact of COVID-19 and other risk factors. Other
relevant risk factors may be detailed from time to time in Business First’s press releases and filings with the Securities and Exchange Commission (SEC). All forward-looking statements, expressed
or implied, included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Any forward-looking statement speaks only as of
the date of this press release, and neither Business First nor Pedestal undertake any obligation, and each specifically declines any obligation, to revise or update these forward-looking
statements, whether as a result of new information, future developments or otherwise.
Additional Information
For additional information on Business First, you may obtain Business First’s reports that are filed with the Securities and Exchange Commission (SEC) free of charge by using the SEC’s EDGAR
service on the SEC’s website at www.sec.gov or by contacting the SEC for further information at 1-800-SEC-0330. Alternatively, these documents can be obtained free of charge from Business First by
directing a request to: Business First Bancshares, Inc., 500 Laurel Street, Suite 100, Baton Rouge, Louisiana 70801, Attention: Corporate Secretary.
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CONTACT: Misty Albrecht b1BANK 225.286.7879 Misty.Albrecht@b1BANK.com