Business First Bancshares, Inc. and Richland State Bancorp, Inc. Announce Merger

June 4, 2018

Baton Rouge, LA – Business First Bancshares, Inc. (“Business First”) (NASDAQ: BFST), the holding company for b1BANK, and Richland State Bancorp, Inc. (“Richland State”) today jointly announced the signing of a definitive agreement under which Business First will acquire Richland State and its wholly owned bank subsidiary, Richland State Bank. On a pro forma basis as of March 31, 2018, the combined institution would be the 4th largest Louisiana-headquartered bank, with total assets of approximately $2 billion.