Business First Bancshares appoints new director

Business First Bancshares, Inc. (NASDAQ:BFST), a Louisiana-based commercial bank with a market capitalization of $729 million, has announced the appointment of Alejandro M. Sanchez as a new independent director to its board and to the board of its subsidiary, b1BANK. The appointment took effect on Wednesday, March 27, 2025. According to InvestingPro data, the bank maintains a healthy financial position with a "GOOD" overall health score and trades at an attractive P/E ratio of 10.7x.

Mr. Sanchez brings a wealth of experience to his new role, having previously served as President and CEO of the Florida Bankers Association until December 2023. His career also includes directorships at TRUSTCO BANK and on the Exim Bank Advisory Committee, as well as a Presidential appointment to the Federal Retirement Thrift Investment Board during George W. Bush’s administration.

Currently, Mr. Sanchez leads Salva Financial Group of Florida and holds a professorship at The University of Edinburgh’s School of Business. He also serves as an Executive Advisor at Nasdaq and holds director positions at Popular Bank, Republic Bank and Trust, and Apalachee Center, Inc. His academic credentials include a J.D. from the University of Iowa, College of Law, and a B.S. from Troy University.

The company’s filing with the Securities and Exchange Commission (SEC) confirms that Mr. Sanchez’s appointment did not result from any arrangement or understanding with other parties and that there are no family relationships between him and any of Business First’s other directors or executive officers. Further, there are no material transactions involving Mr. Sanchez that are reportable under SEC regulations, aside from standard financial services related transactions with b1BANK.

Business First Bancshares has affirmed Mr. Sanchez’s independence according to Nasdaq’s listing standards, ensuring that his addition to the boards will provide unbiased oversight and guidance.

The announcement is based on a press release statement and forms part of the company’s current report filed with the SEC on April 2, 2025.

In other recent news, Business First Bancshares Inc. reported its fourth-quarter 2024 earnings, surpassing analyst expectations. The company achieved an earnings per share (EPS) of $0.51, exceeding the forecasted $0.47, while revenue reached $77.59 million against a projection of $74.76 million. Business First Bancshares also reported significant growth in total loans and deposits, with loans increasing by $761.3 million and deposits by $870.4 million. The company completed strategic acquisitions in Dallas and Houston, further strengthening its market presence. Additionally, Business First Bancshares is preparing to reach a $10 billion asset milestone, indicating its robust financial health and strategic growth initiatives.

In other developments, b1BANK, a subsidiary of Business First Bancshares, announced the appointment of Senna Bayasgalan as its new chief marketing officer. Bayasgalan is expected to enhance the bank’s branding and marketing technology efforts. Meanwhile, the bank continues to receive accolades, including being named the #1 Best-In-State Bank in Louisiana by Forbes and Statista. These recent developments highlight Business First Bancshares’ continued focus on strategic growth and market expansion.

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