Raymond James welcomes $335 million wealth program with b1BANK
ST. PETERSBURG, Fla. – Raymond James announced today that b1BANK has selected its Financial Institutions Division (FID) to support the bank’s investment program, b1 Wealth Solutions Group, according to Stephen Kruchten, president of FID. Through the alignment, b1 Wealth Solutions Group will provide clients with comprehensive wealth management services via Raymond James Financial Services.
Operating across Louisiana and Texas, b1 Wealth Solutions Group includes a program manager, a financial advisor and one branch professional, managing approximately $335 million in client assets. The new alignment follows b1BANK’s January 2026 acquisition of Progressive Bank and integration of Progressive Financial Advisors, an established FID-affiliated team. Together, the combined wealth program includes three advisors managing more than $600 million in client assets.
“b1BANK has taken a strategic approach to strengthening its wealth management offering, and we’re proud to support that vision,” said Jon DeMayo, vice president of business development at FID. “By unifying its wealth management group on the Raymond James platform, the team is well positioned to scale their program, enhance the advisor and client experience, and deliver more comprehensive financial guidance.”
“Choosing the right partner for our wealth clients is not a decision we take lightly,” said Jude Melville, CEO of b1BANK. “Raymond James FID has the scale, the depth and a long-term growth orientation that aligns with how we operate. When a partner thinks about this business the way we do, the integration becomes less of a transition and more of a natural next step.”
About the Financial Institutions Division
The Financial Institutions Division was established by Raymond James in 1987 to provide banks and credit unions with an alternative to traditional third-party investment providers. Raymond James provides full-service securities brokerage and advisory services to financial institutions seeking to compete with the largest banks and securities firms in the country. In addition to a full complement of investment products and services, Raymond James has the ability to deliver investment banking, public finance, research, self-clearing capabilities and wealth management services to both individuals and institutions.
About Raymond James Financial Services
Raymond James Financial Services, Inc. (RJFS), member FINRA/SIPC, is a financial services firm supporting independent financial advisors nationwide. Since 1974, RJFS provides a wide range of investment and wealth planning-related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both firms are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), one of the nation’s premier diversified financial services companies with financial advisors throughout the United States, Canada and overseas. Total client assets are approximately $1.92 trillion as of May 31, 2026. Additional information is available at raymondjames.com.
About Business First Bancshares Inc.
Business First Bancshares, Inc., (Nasdaq: BFST) through its banking subsidiary b1BANK, has $8.9 billion in assets, $5.7 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (not including $1.0 billion of b1BANK assets managed by SSW) and operates banking centers and loan production offices in markets across Louisiana and Texas providing commercial and personal banking products and services. b1BANK is a 2024 Mastercard “Innovation Award” winner and multiyear winner of American Banker Magazine’s “Best Banks to Work For.” Visit b1BANK.com for more information.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC, and are not insured by bank insurance, the FDIC or any other government agency, are not deposits or obligations of the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal. b1BANK and b1 Wealth Solutions Group are not registered broker/dealers and are independent of Raymond James Financial Services. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.