Baton Rouge, Louisiana-based serial acquirer Business First Bancshares and its subsidiary b1BANK has acquired Dallas-based financial consulting firm American Planning Corporation, the bank said Tuesday.
American Planning will join b1BANK subsidiary Smith Shellnut Wilson LLC, an investment advisory firm acquired by the bank in 2021.
Financial terms were not disclosed.
“[American Planning CEO T. Jefferson Fair] and his team have earned the trust of community bankers over many years – including ours,” said Jude Melville, president and CEO of Business First. “We’ve worked together since our founding twenty years ago, and I have complete confidence that by formally joining forces, we will amplify the positive impact Jeff already has had on the community banking industry.”
American Planning has advised community banks through outsourced CFO services, financial modeling, strategic planning and capital planning, as well as asset/liability management, stock valuations and regulatory consulting for five decades.
“We’ve worked side by side serving community banks for more than 30 years,” said Frank Smith III, managing director of Smith Shellnut Wilson. “Joining forces allows us to deepen our capabilities while delivering greater value to our clients.”
b1BANK, which had $8.9 billion in assets as of March 31, acquired Smith Shellnut Wilson in 2021. Smith Shellnut Wilson manages $6.7 billion in assets, including roughly $1 billion in b1BANK assets.
Prior to its Smith Shellnut Wilson deal, b1BANK bought Pedestal Bank in 2020, expanding across Louisiana and Dallas. And in the years since, it’s purchased Pasadena, Texas-based Texas Citizens Bancorp in 2022; Katy, Texas-based consulting firm Waterstone and Dallas-based Oakwood Bancshares in 2024; and most recently, Monroe, Louisiana-based Progressive Bancorp.
A spokesperson for b1BANK did not immediately respond to a request for comment.
