Business First Bancshares, Inc.

Listed Company

BFSTCIK 0001624322NasdaqAcceleratedState Commercial BanksLouisianaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$87.86M

Total Assets

$8.21B

Equity

$896.88M

Shares Out

32.71M

Op. Cash Flow

$92.08M

Business

Business First Bancshares, Inc. is a financial holding company and parent of b1BANK that provides community-focused commercial and private banking to small-to-midsized businesses and individuals. It offers deposit products, commercial and consumer lending (including SBA and mortgage lending), treasury and cash management, digital banking, wealth management, and related fiduciary, insurance and securities services. Its operations include business banking, wealth solutions and ancillary service subsidiaries supported by centralized risk management and technology. The company distributes services via banking centers, loan production offices, participation networks and digital channels in Louisiana and the Dallas/Fort Worth and Houston markets.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and Fees on Loans	419	375	323	218	157
Interest and Dividends on Non-taxable Securities	7	4	4	4	4
Interest and Dividends on Taxable Securities	22	21	16	12	9
Interest on Federal Funds Sold and Due From Banks	17	15	10	2	127,000
Total Interest Income	465	415	353	236	170
Interest on Deposits	169	165	107	24	12
Interest on Borrowings	23	22	31	12	4
Total Interest Expense	192	187	138	37	—
Net Interest Income	273	227	215	200	154
Provision for Credit Losses	11	11	4	11	8
Net Interest Income after Provision for Credit Losses	262	217	211	189	146
Service Charges on Deposit Accounts	11	11	10	8	7
Gain (Loss) on Sales of Securities	64,000	7,000	−3	−48,000	378,000
Gain on Sales of Loans	3	3	2	574,000	10
Other Income	37	31	28	21	18
Total Other Income	52	44	37	29	36
Salaries and Employee Benefits	116	104	91	85	66
Occupancy and Equipment Expense	29	24	21	19	16
Other Expenses	59	50	45	45	35
Total Other Expenses	203	178	157	149	117
Income Before Income Taxes	110	83	91	69	65
Provision for Income Taxes	22	18	20	14	12
Net Income	88	65	71	54	52
Preferred Stock Dividends	5	5	5	1	0
Net Income Available to Common Shareholders	82	60	66	53	52
Basic (in dollars per share)	2.81	2.27	2.62	2.34	2.54
Diluted (in dollars per share)	2.79	2.26	2.59	2.32	2.53

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and Due from Banks	411	319	226	153	68
Federal Funds Sold	172	198	151	16	227
Securities Purchased Under Agreements to Resell	26	51	0	—	—
Securities Available for Sale, at Fair Values (Amortized Cost of $1,031,432 at December 31, 2025 and $973,423 at December 31, 2024)	989	894	880	—	—
Mortgage Loans Held for Sale	1	717,000	835,000	—	1
Loans and Lease Receivable, Net of Allowance for Loan Losses of $53,959 and $54,840 at December 31, 2025 and 2024, respectively	6,136	5,927	4,952	—	—
Premises and Equipment, Net	74	82	69	63	58
Accrued Interest Receivable	38	36	30	26	20
Other Equity Securities	49	41	34	37	17
Other Real Estate Owned	13	6	2	1	1
Cash Value of Life Insurance	120	118	96	92	60
Deferred Taxes	20	30	27	31	9
Goodwill	121	122	88	89	60
Core Deposit and Customer Intangible	14	17	12	14	12
Other Assets	28	18	15	10	11
Total Assets	8,215	7,857	6,585	5,990	4,726
Noninterest Bearing	1,322	1,357	1,299	1,549	1,291
Interest Bearing	5,377	5,154	3,950	3,271	2,786
Total Deposits	6,699	6,511	5,249	4,820	4,077
Securities Sold Under Agreements to Repurchase	23	23	19	20	19
Federal Home Loan Bank Borrowings	431	356	211	410	82
Subordinated Debt	93	100	100	111	81
Subordinated Debt - Trust Preferred Securities	5	5	5	5	5
Accrued Interest Payable	4	6	15	2	1
Other Liabilities	64	57	42	27	27
Total Liabilities	7,318	7,058	5,940	5,410	4,293
Commitments and Contingencies (See Notes 19 and 22)	—	—	—	—	—
Preferred Stock, No Par Value; 5,000,000 Shares Authorized; 72,010 Shares ($1,000 Liquidation Preference) Issued and Outstanding at both December 31, 2025 and 2024	72	72	72	72	0
Common Stock, $1 Par Value; 50,000,000 Shares Authorized; 29,510,668 and 29,552,358 Shares Issued and Outstanding at December 31, 2025 and 2024, respectively	30	30	25	25	20
Additional Paid-in Capital	502	500	397	394	292
Retained Earnings	327	261	216	164	122
Accumulated Other Comprehensive Loss	−33	−63	−67	−74	−1
Total Shareholders' Equity	897	799	644	580	433
Total Liabilities and Shareholders' Equity	8,215	7,857	6,585	5,990	4,726

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and Amortization	6	5	5	5	4
Net Accretion of Purchase Accounting Adjustments	−2	−3	−8	−8	−7
Stock Based Compensation Cost	6	3	4	4	3
Net Amortization of Securities	798,000	2	4	6	7
(Gain) Loss on Sales of Securities	−64,000	−7,000	3	48,000	−378,000
Gain on Sales of Loans	−931,000	−2	−671,000	−398,000	−9
Income on Other Equity Securities	−2	−2	−3	−2	−2
Gain on Sales of Other Real Estate Owned, Net of Writedowns	−511,000	−89,000	−214,000	92,000	1
Other Real Estate Owned Valuation Allowance	196,000	0	0	—	—
Loss on Disposal of Premises and Equipment	840,000	7,000	0	—	—
Increase in Cash Value of Life Insurance	−3	−3	−2	−2	−1
Deferred Income Tax Expense (Benefit)	1	−962,000	−2	−1	586,000
Gain on Extinguishment of Debt	−630,000	0	−1	—	—
Gain on Sale of Branch	−3	0	−945,000	0	−492,000
Increase in Accrued Interest Receivable	−3	−3	−4	−3	4
(Increase) Decrease in Other Assets	−10	9,000	−2	6	−4
Increase (Decrease) in Accrued Interest Payable	−2	−10	13	519,000	−1
Increase (Decrease) in Other Liabilities	6	−391,000	11	−151,000	2
Net Cash Provided by Operating Activities	92	61	91	70	56
Purchases of Securities Available for Sale	−688	−104	−131	−103	−528
Proceeds from Maturities / Sales of Securities Available for Sale	552	41	92	39	30
Proceeds from Paydowns of Securities Available for Sale	77	68	54	95	96
Net Cash Received in Acquisition	0	97	0	163	—
Net Cash Paid in Sale of Branch	−43	0	−15	0	−14
Purchases of Other Equity Securities	−14	−5	−16	−23	−4
Redemption of Other Equity Securities	8	2	21	10	3
Purchase of Life Insurance	0	−3	−2	−18	−16
Proceeds from Death Benefit of Cash Value of Life Insurance	504,000	813,000	0	499,000	2
Net Increase in Loans	−234	−295	−379	−1,070	−431
Net Purchases of Premises and Equipment	−66,000	−2	−12	−8	−4
Proceeds from Sales of Other Real Estate	10	621,000	1	682,000	8
Net (Increase) Decrease in Securities Purchased Under Agreements to Resell	25	−51	0	0	—
Net (Increase) Decrease in Federal Funds Sold	25	−44	−136	211	−53
Net Cash Used in Investing Activities	−282	−295	−521	−701	−675
Net Increase in Deposits	239	521	445	266	480
Net Increase (Decrease) in Securities Sold Under Agreements to Repurchase	1,000	4	−1	1	−3
Net Increase (Decrease) in Federal Funds Purchased	0	0	−14	14	0
Net Advances (Repayments) on Federal Home Loan Bank Borrowings	75	122	−199	327	39
Net (Repayments) Proceeds on Bank Term Funding Program	0	−300	300	0	—
Repayment of Subordinated Debt	−6	0	−9	0	0
Net Costs from Issuance of Common Stock	0	−31,000	0	—	—
Repurchase of Common Stock	−4	0	0	0	−11
Payment of Dividends on Preferred Stock	−5	−5	−5	−1	0
Payment of Dividends on Common Stock	−17	−15	−13	−11	−9
Net Cash Provided by Financing Activities	282	326	504	715	538
Net Increase in Cash and Due From Banks	92	93	73	84	−81
Interest on Deposits	171	164	105	24	13
Interest on Borrowings	23	32	21	12	4
Income Tax Payments	24	17	16	14	16
Change in the Unrealized Gain on Securities Available for Sale	38	5	10	−93	−15
Change in Deferred Tax Effect on the Unrealized Gain on Securities Available for Sale and Equity Securities	−8	−961,000	−2	20	3
Transfer of Loans to Other Real Estate	17	4	1	719,000	1
Fair Value of Tangible Assets Acquired	0	848	0	—	—
Other Intangible Assets Acquired	0	8	0	4	4
Liabilities Assumed	0	782	0	509	6,000
Net Identifiable Assets Acquired Over Liabilities Assumed	0	74	0	26	—

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