b1BANK Hires Gerrit van de Wetering to Launch Derivative Solutions Services

BATON ROUGE, La., Nov. 02, 2023 (GLOBE NEWSWIRE) -- Jerry Vascocu, Chief Administrative Officer for b1BANK, the banking subsidiary of Business First Bancshares, Inc. (Nasdaq: BFST), announced the hire of Gerrit van de Wetering as Managing Director of Derivative Solutions. van de Wetering is tasked with launching b1BANK’s derivatives products and services, which will provide clients with more flexibility managing interest rate risks.

“Gerrit’s expertise in capital markets, specifically in fixed income and derivatives, will provide our clients with options that can help support their interest rate risk management,” said Vascocu. “Our new derivative product line will also be available to our network of commercial bank clients we serve through our Financial Institutions Group and subsidiary, Smith Shellnut Wilson, LLC.”

Gerrit has held positions at Derivative Path, BMO Capital Markets, Morgan Keegan and Company, BankOne and ABN Amro. During his career, van de Wetering covered both corporate borrowers and financial institutions (regional and community banks) for interest rate, currency and commodity hedging. While at BMO and Morgan Keegan, he founded and developed community bank outsource hedging programs, developed technology platforms to support swap business activity, and is considered an expert in FAS 133 / ASC 815 derivative accounting.

“b1BANK is on an exciting trajectory. The energy everyone has working towards a shared goal and vision is contagious, you can’t help but want to be part of it,” said van de Wetering. “I am joining a team of knowledgeable bankers that are eager to launch an interest rate derivative product line and grow these products and services over time. I am looking forward to seeing what the bank looks like in five years.”  

“We are looking forward to partnering with Gerrit,” said Frank Smith, III, Smith Shellnut Wilson Principal. “His experience in developing capital market products for commercial banks will enhance our client offerings and deepen our relationships.”

van de Wetering earned a Master of Business Administration with a focus in Finance from Loyola University, Chicago, and Bachelor of Arts in Political Science from University of Iowa. He holds a series 7 and 63 FINRA registrations.

About Business First Bancshares, Inc.

Business First Bancshares, Inc., (Nasdaq: BFST) through its banking subsidiary b1BANK, has $6.5 billion in assets, $6.0 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (excludes $0.9 billion of b1BANK assets managed by SSW) and operates Banking Centers and Loan Production Offices in markets across Louisiana and the Dallas and Houston, Texas areas, providing commercial and personal banking products and services. Commercial banking services include commercial loans and letters of credit, working capital lines and equipment financing and treasury management services. b1BANK was awarded #1 Best-In-State Bank, Louisiana, by Forbes and Statista, and is a multiyear winner of American Banker’s “Best Banks to Work For.” Visit b1BANK.com for more information.

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