Business First Bancshares Announces Agreement To Acquire Progressive Bancorp And Progressive Bank

July 7 (Reuters) - Business First Bancshares Inc BFST.O:

• BUSINESS FIRST BANCSHARES, INC. ANNOUNCES AGREEMENT TO ACQUIRE PROGRESSIVE BANCORP, INC. AND PROGRESSIVE BANK

• BUSINESS FIRST BANCSHARES: ONCE COMPLETED, ACQUISITION IS EXPECTED TO INCREASE BUSINESS FIRST'S TOTAL ASSETS TO ABOUT $8.5 BILLION

• BUSINESS FIRST BANCSHARES - PROGRESSIVE SHAREHOLDERS WILL OWN AROUND 9.3 PERCENT OF COMBINED COMPANY AFTER CLOSING

• BUSINESS FIRST BANCSHARES- UNDER DEAL, BUSINESS FIRST EXPECTS TO ISSUE ABOUT 3.1 MILLION SHARES OF COMMON STOCK TO PROGRESSIVE SHAREHOLDERS