Business First Bancshares in Baton Rouge, Louisiana, has agreed to buy Progressive Bancorp in Monroe. The $7.8 billion-asset Business First said in a news release that it will pay $82.6 million in stock for the $752 million-asset Progressive. The deal, which is expected to close in the first quarter, priced Progressive at 122% of its tangible book value.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
Consumer credit increased at a seasonally adjusted annual rate of 1.2% in May, the Federal Reserve reported.
The U.S. Attorney’s Office for the Western District of Texas “is on alert” for fraudsters seeking to exploit individuals and businesses following the recent deadly floods in Texas, according to the U.S. Department of Justice.
Consumer inflation expectations in June ticked down at the short-term horizon but remained flat at the medium- and longer-term horizons, according to the most recent Survey of Consumer Expectations.
The Federal Financial Institutions Examination Council recently published data on 2024 mortgage lending transactions reported under the Home Mortgage Disclosure Act by 4,908 U.S. financial institutions.
President Trump last week signed a budget bill that included the largest expansions to Health Savings Accounts since they were created in 2003.
The Small Business Optimism Index declined by 0.2 of a point in June to 98.6, slightly above the 51-year average of 98. Of the 10 Optimism Index components, four increased, four decreased, and two remained unchanged.
