Business First Bancshares, Inc. Announces Resignation of Chief Accounting Officer

Key Highlights

• Resignation of Senior Leadership: On February 19, 2026, Business First Bancshares, Inc. (“Business First”) and its wholly-owned subsidiary, b1BANK, were notified of the resignation of Scott Padurean, Senior Vice President and Chief Accounting Officer (CAO) of b1BANK.
• Effective Date: Mr. Padurean will continue to serve as CAO until March 6, 2026, ensuring an orderly transition.
• No Disagreements Reported: The company specifically stated that Mr. Padurean’s resignation was not due to any disagreement or conflict with Business First or b1BANK on any matter relating to operations, policies, or practices. His departure is the result of a decision to pursue another professional opportunity.
• Search for Successor: Business First has initiated a search to identify a new Chief Accounting Officer.

Details for Investors

Business First Bancshares, Inc. (NASDAQ: BFST) filed an 8-K with the Securities and Exchange Commission announcing the resignation of Scott Padurean from his position as Senior Vice President and Chief Accounting Officer of b1BANK, effective March 6, 2026. According to the filing, Mr. Padurean’s departure is not tied to any operational, policy, or accounting disagreements with the company or its subsidiary. Instead, he is leaving to pursue another professional opportunity.

The company clarified that operations and reporting functions remain unaffected. Business First has commenced a search for a new CAO, and Mr. Padurean will remain in his position for several weeks to support a smooth transition. The company expects to announce a successor in due course, but no timeline has been provided.

Potential Impact on Shareholders

• Leadership Transition: The resignation of a Chief Accounting Officer is a significant event, especially in a financial institution. Investors typically pay attention to changes in financial leadership, as the CAO plays a key role in financial reporting, controls, and oversight. However, the company has stated there are no disagreements or concerns with financial or operational practices, which may help mitigate concerns.
• Market Sensitivity: While the company has emphasized the resignation is amicable and not related to any disagreements, any transition in a key financial role can create uncertainty, at least in the short term. Investors may want to monitor the company’s upcoming communications regarding the selection of a new CAO, as well as any subsequent updates on the company’s financial reporting and controls.
• Regulatory Compliance: As a company listed on the NASDAQ Global Select Market, Business First is subject to strict financial reporting and compliance standards. The timely and orderly transition of CAO responsibilities is critical to maintaining investor and regulatory confidence.
• No Other Material Events: The filing does not report any other material events, changes in business strategy, or financial results. The company’s core operations continue as usual.

Conclusion

The resignation of Chief Accounting Officer Scott Padurean is a noteworthy development for Business First Bancshares, Inc. While the company has indicated that the departure is for personal career reasons rather than operational or policy issues, shareholders should remain attentive to future updates regarding the appointment of a new CAO and any potential impacts on financial controls or reporting.

Disclaimer: The information in this article is based on publicly available filings and is intended for informational purposes only. It does not constitute investment advice or a recommendation to buy or sell any security. Investors should conduct their own due diligence or consult with a financial advisor before making investment decisions.

View Business First Bancshares, Inc. Historical chart here