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David R. Melville

Chairman, President, and Chief Executive Officer at Business First Bancshares
Board
Since March 2011
Age
50 years
Education
Earned a bachelor's degree in social studies from Harvard College, a Master of Science in Management from the London School of Economics, and graduated from the Graduate School of Banking at Louisiana State University.
Tenure
Joined BFST in February 2006 as Chief Administrative Officer, was promoted to Chief Executive Officer in March 2011, and later assumed the role of Chairman, President, and Chief Executive Officer.

Also at Business First Bancshares

CC
Chad Carter
EVP of Correspondent Banking
GR
Gregory Robertson
Executive Vice President and Chief Financial Officer
KM
Kathryn Manning
Executive Vice President and Chief Risk Officer

About

David R. Melville, III currently serves as the Chairman, President, and Chief Executive Officer of Business First Bancshares, Inc. and its subsidiary, b1BANK, reflecting a long and steady career in the banking industry.

He joined the institution at its inception in February 2006 as the Chief Administrative Officer and later ascended to the role of CEO in March 2011, marking a significant progression in his professional journey.

With a solid foundation built on academic achievements that include a bachelor's degree from Harvard College, a Master of Science from the London School of Economics, and further specialized training from the Graduate School of Banking at Louisiana State University, he also brings leadership skills honed during his service as a captain in the U.S. Air Force.

His leadership has been pivotal in driving the growth and stability of the organization, balancing a focus on strategic decision making with a commitment to professional excellence.

$BFST Performance Under David R. Melville

Past Roles

OrganizationRoleDate RangeDetails
b1BANK Chief Administrative Officer Feb 2006 – Mar 2011 Served before promotion to CEO in Mar 2011
Business First Bancshares Various Management Roles 2006 – 2011 Held multiple management roles prior to further promotion
b1BANK President and Chief Executive Officer Mar 2011 – Oct 2024 Transitioned in Oct 2024 to focus solely on b1BANK CEO while retaining BFST leadership roles
U.S. Air Force Captain Prior to 2006 Served before joining BFST

External Roles

OrganizationRoleDate RangeDetails
Louisiana’s Committee of 100 Executive Board Member N/A N/A
Louisiana Association of Public Charter Schools Chair N/A N/A

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Base Salary$775,500 Annual (2024)Increased by 10% from 2023 due to promotion to Chairman
Time-Based Restricted Stock Units14,966 units; Grant Date Fair Value: $423,388 Vests in three equal annual installments starting on the first anniversary (Dec 12, 2025 onward)Granted on December 12, 2024 as part of the long-term incentive program
Outstanding Equity Award (Restricted Stock) - Grant 115,494 units; Market Value: $398,196 Vests annually in 33.3% increments; final tranche on March 31, 2025Granted on February 1, 2023
Outstanding Equity Award (Restricted Stock) - Grant 219,909 units; Market Value: $511,661 Vests annually in 33.3% increments; final tranche on March 31, 2026Granted on February 1, 2024
Outstanding Equity Award (Restricted Stock) - Grant 314,966 units; Market Value: $384,626 Vests annually in 33.3% increments; final tranche on December 12, 2027Granted on December 12, 2024
Other Compensation$41,849 Paid in 2024Breakdown: 401(k) Match: $13,800; Executive Allowance: $12,000; Club Dues: $16,049
Change in Pension Value$164,290 Recognized in 2024Increase in accrued benefits under the Supplemental Executive Retirement Plan

Performance Compensation

Data from  FY 2024

Annual Cash Bonus

MetricValueDetails
Base Salary$775,500 Used as the basis for bonus calculation
Target Opportunity (% of Base Salary)65% Equals $504,075
Actual Earned Award$657,871 130.51% of target
Weight - Corporate Performance80% Achievement: 100.5% of target
Weight - Individual Performance20% Achievement: 30% of target
Threshold50% Minimum performance level
Target100% Full target performance level
Superior150% Maximum performance level
Vesting / PayoutNo vesting Paid out based on annual performance

Performance-Based Restricted Stock Units

MetricValueDetails
Grant DateDecember 12, 2024 Date of grant in 2024
Units Granted14,966 Performance-based RSUs
Grant Date Fair Value$423,388 Valuation on grant date
Grant Date Stock Price$28.29 Closing price on grant date
Metric - ROATCE Weight50% Threshold: 80% of target; Superior: 110% of target
Metric - Peer-Relative EPS Growth Weight50% Threshold: 25th percentile; Target: 50th percentile; Superior: 75th percentile
Vesting ScheduleCliff vest on December 12, 2027 Contingent on achieving performance metrics
Evaluation PeriodJanuary 1, 2024 - December 31, 2026 Performance measurement period
Vesting Range0% to 150% Based on performance relative to targets
Additional ConditionsCapped if total shareholder return is negative Adjustments based on company performance