Note 24 - Subsequent Events -

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Subsequent Events [Text Block]

Note

2

4

– Subsequent Events –

On

January 1, 2018,

the Company completed the acquisition of Minden Bancorp, Inc. (MBI), and its wholly-owned subsidiary, MBL Bank, located in Minden, Louisiana, further increasing its presence in the Northwest Louisiana region. The Company paid an aggre

gate cash consideration equal to

$56.2

million, or approximately

$23.20

in exchange for each share of MBI common stock outstanding immediately prior to the effective time of the acquisition. At

December 31, 2017,

MBI had approximately

$315.4

million in total assets,

$193.3

million in net loans,

$264.0

million in total deposits, and

$28.5

million in total shareholders’ equity, and was the leading financial institution in Webster Parish, part of the Shreveport-Bossier City MSA, through its

two

banking center locations.

In

December 2017,

the Company

’s wholly-owned subsidiary, Business First Bank, notified its primary regulators, the Louisiana Office of Financial Institutions and the Federal Deposit Insurance Corporation, and the impacted customers and employees of its intention to close the Erwinville and Zachary banking center locations. The closures are expected to occur in

March 2018,

subject to applicable regulatory requirements. The affected banking centers are low traffic facilities, and Business First Bank expects to fully serve the affected customers through its remaining banking centers and electronic services. There were

no

employee job losses or significant impairment of Bank premises as a result of the closures.      

The Company evaluated subse

quent events and transactions for potential recognition or disclosure in the financial statements through the date which the financial statements were available to be issued. This evaluation did

not

result in additional subsequent events that required disclosures and /or adjustments under general accounting standards.