Business First Bank(BFST)

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Business First Bancshares, Inc. Announces Acquisition of Waterstone LSP, LLC
Newsfilter· 2024-02-01 13:30
BATON ROUGE, La., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Business First Bancshares, Inc. (Business First) (NASDAQ:BFST), the holding company for b1BANK announced today the signing of a definitive agreement to acquire Waterstone LSP, LLC (Waterstone). Waterstone was founded in 2012 by Mark Danford and Anthony Parrino to work hand-in-hand with community banks and small business owners to implement and manage the U.S. Small Business Administration's (SBA) loan programs. "We have worked closely, for a number of ye ...
Business First Bank(BFST) - 2023 Q4 - Earnings Call Transcript
2024-01-24 04:38
Business First Bancshares, Inc. (NASDAQ:BFST) Q4 2023 Results Conference Call January 23, 2024 5:30 PM ET Company Participants Matthew Sealy - SVP, Director of Corporate Strategy and FP&A Jude Melville - President and CEO Greg Robertson - CFO Philip Jordan - Chief Banking Officer Jerry Vascocu - Chief Administrative Officer Conference Call Participants Matthew Olney - Stephens Inc Graham Dick - Piper Sandler Michael Rose - Raymond James Brett Rabatin - Hovde Group Feddie Strickland - Janney Montgomery Scott ...
Business First (BFST) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
Zacks Investment Research· 2024-01-24 00:01
For the quarter ended December 2023, Business First (BFST) reported revenue of $60.17 million, down 6.5% over the same period last year. EPS came in at $0.66, compared to $0.66 in the year-ago quarter.The reported revenue represents a surprise of -5.09% over the Zacks Consensus Estimate of $63.4 million. With the consensus EPS estimate being $0.60, the EPS surprise was +10.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...
Business First Bancshares, Inc., Announces Financial Results for Fiscal Year 2023 and Q4 2023
Newsfilter· 2024-01-23 21:01
BATON ROUGE, La., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Business First Bancshares, Inc. (NASDAQ:BFST) (Business First), parent company of b1BANK, today announced its unaudited results for the year ended December 31, 2023, including net income available to common shareholders of $65.6 million or $2.59 per diluted common share, increases of $12.7 million and $0.27, respectively, from the prior year ended December 31, 2022. On a non-GAAP basis, core net income for the year ended December 31, 2023, which excludes c ...
Business First Bank(BFST) - 2023 Q3 - Quarterly Report
2023-11-01 16:00
Financial Performance - Net income available to common shareholders was $51.2 million for the nine months ended September 30, 2023, an increase of $14.9 million, or 41.1%, from the same period in 2022[51]. - For the three months ended September 30, 2023, net income available to common shareholders was $19.1 million, or $0.76 per share, compared to $13.8 million, or $0.61 per share, for the same period in 2022[55]. - For the nine months ended September 30, 2023, net income available to common shareholders was $51.2 million, or $2.04 per basic share, compared to $36.3 million, or $1.65 per basic share, for the same period in 2022[62]. - Core net income available to common shareholders for Q3 2023 was $18.0 million, or $0.71 per diluted share, compared to $16.4 million, or $0.72 per diluted share in Q3 2022[198]. - For the nine months ended September 30, 2023, core net income available to common shareholders was $49.5 million, or $1.96 per diluted share, compared to $41.2 million, or $1.86 per diluted share for the same period in 2022[199]. Asset and Loan Growth - Total assets increased by $498.3 million, or 8.3%, to $6.5 billion as of September 30, 2023[49]. - Total loans held for investment rose by $314.1 million, or 6.8%, to $4.9 billion[50]. - Total loans increased to $4,829,537, with interest earned of $237,566, reflecting a yield of 6.58% for the nine months ended September 30, 2023[70]. - Average loans outstanding increased to $4,829,537 thousand for the nine months ended September 30, 2023, compared to $4,020,436 thousand for the year ended December 31, 2022, representing a growth of 20.1%[136]. Deposit Trends - Total deposits decreased by $370.4 million, or 7.7%, to $5.2 billion[51]. - Total deposits as of September 30, 2023, were $5.2 billion, an increase of $370.4 million, or 7.7%, compared to $4.8 billion as of December 31, 2022[152]. - Average deposits for the nine months ended September 30, 2023, were $4.9 billion, an increase of $362.8 million, or 8.0%, over the full year average for 2022[155]. Interest Income and Expense - Net interest income for the nine months ended September 30, 2023, was $161.4 million, an increase of $17.9 million, or 12.4%, from the same period in 2022[51]. - Net interest income for the three months ended September 30, 2023, totaled $55.3 million, with a net interest margin of 3.61%[64]. - Overall cost of funds increased by 182 basis points for the three months ended September 30, 2023, compared to the same period in 2022[64]. - Interest income for September 2023 was $93,322 thousand, a 47% increase from $63,473 thousand in September 2022[201]. - Interest expense rose significantly to $38,028 thousand in September 2023, compared to $9,993 thousand in September 2022, marking a 281% increase[201]. Noninterest Income and Expense - Noninterest income sources include service charges, debit card fees, and income from bank-owned life insurance, contributing to overall revenue growth[78]. - Total noninterest income increased by $1.8 million, or 21.8%, from the three months ended September 30, 2022, primarily due to a $424,000 increase in service charges, a $313,000 increase in fees and brokerage commissions, and a $932,000 gain from the sale of a banking center[79]. - Total noninterest expense decreased by $2.3 million, or 5.7%, from the three months ended September 30, 2022, mainly due to a reduction of $3.2 million in merger and conversion related expenses[85]. - For the nine months ended September 30, 2023, total noninterest expense increased by $5.9 million, or 5.3%, primarily attributed to a $5.0 million increase in salaries and employee benefits[86]. Credit Quality and Allowance for Loan Losses - Allowance for loan losses was 0.84% of total loans held for investment, compared to 0.83% as of December 31, 2022[52]. - Nonperforming loans to total loans held for investment ratio was 0.33%, compared to 0.25% as of December 31, 2022[52]. - The allowance for credit losses was $44.5 million, or 0.90% of total loans held for investment, as of September 30, 2023, compared to $38.8 million, or 0.84%, as of December 31, 2022[133]. - Total charge-offs for the nine months ended September 30, 2023, were $5,390 thousand, significantly higher than $2,821 thousand for the same period in 2022, reflecting an increase of 91.5%[136]. Capital Ratios - Capital ratios for Tier 1 Leverage, Common Equity Tier 1, Tier 1 Risk-based, and Total Risk-based Capital were 9.31%, 8.97%, 10.28%, and 12.71%, respectively[54]. - Total capital to risk-weighted assets ratio for the company was 12.71% as of September 30, 2023, slightly down from 12.75% as of December 31, 2022[174]. - Tier 1 capital to risk-weighted assets ratio increased to 10.28% as of September 30, 2023, compared to 10.07% as of December 31, 2022[174]. Market and Strategic Initiatives - The company plans to focus on market expansion and new product development to drive future growth[78]. - The company does not enter into leveraged derivatives or financial options to reduce interest rate risk, managing exposure primarily through balance sheet structuring[188]. - Interest rate risk is reviewed by the asset-liability committee, which considers various factors including earnings impact and regional economies[188].
Business First Bank(BFST) - 2023 Q3 - Earnings Call Transcript
2023-10-27 03:23
Business First Bancshares, Inc. (NASDAQ:BFST) Q3 2023 Earnings Conference Call October 26, 2023 5:30 PM ET Company Participants Matt Sealy - SVP and Director, Corporate Strategy Jude Melville - President, CEO & Director Greg Robertson - Executive VP, CFO & Treasurer Conference Call Participants Matt Olney - Stephens Brett Rabatin - Hovde Group Graham Dick - Piper Sandler Kevin Fitzsimmons - D.A. Davidson Feddie Strickland - Janney Montgomery Scott Michael Rose - Raymond James Operator Hello. And welcome to ...
Business First Bank(BFST) - 2023 Q3 - Earnings Call Presentation
2023-10-27 02:59
BUSINESS FIR BANCSHAR Q3 2023 Results BUSINESS FIRST O BANCSHAR NASDAQ: BFST Nasdaq TABLE OF CONTENTS Legal Disclosures 3 Guiding Principles & Social Impact 4 – 5 Business First Bancshares, Inc. Overview 6 – 11 Liquidity and Deposits 12 Securities Portfolio 13 Branches & Smith Shellnut Wilson 14 – 15 Financial Results Q3 2023 Financial Results 17 – 18 Stable Credit Performance 19 Yield/Rate Analysis 20 – 21 Loan Portfolio Operating Loan Growth 23 | --- | --- | |------------------|-------------| | | | | Loan ...
Business First Bank(BFST) - 2023 Q2 - Quarterly Report
2023-08-02 16:00
Table of Contents BUSINESS FIRST BANCSHARES, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY FOR THE SIX MONTHS ENDED JUNE 30, 2023 AND 2022 (Dollars in thousands, except per share data) 8 BUSINESS FIRST BANCSHARES, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in thousands) (CONTINUED) Table of Contents 10 BUSINESS FIRST BANCSHARES, INC. AND SUBSIDIARIES NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS The unaudited consolidate ...
Business First Bank(BFST) - 2023 Q2 - Earnings Call Transcript
2023-07-30 16:11
Business First Bancshares, Inc. (NASDAQ:BFST) Q2 2023 Earnings Conference Call July 27, 2023 5:30 PM ET Company Participants Matt Sealy - SVP and Director, Corporate Strategy Jude Melville - President, CEO & Director Greg Robertson - Executive VP, CFO & Treasurer Philip Jordan - Executive VP & Chief Banking Officer Conference Call Participants Michael Rose - Raymond James Brett Rabatin - Hovde Group Kevin Fitzsimmons - D.A. Davidson Feddie Strickland - Janney Montgomery Scott Graham Dick - Piper Sandler Ope ...
Business First Bank(BFST) - 2023 Q2 - Earnings Call Presentation
2023-07-30 06:02
BUSINESS FIR BANCSHAR Q2 2023 Results BUSINESS FIRST O BANCSHAR NASDAQ: BFST Nasdaq TABLE OF CONTENTS Legal Disclosures 3 Guiding Principles & Social Impact 4 – 5 Business First Bancshares, Inc. Overview 6 – 8 Deposits and Liquidity 9 – 11 Securities Portfolio 12 Branches & Smith Shellnut Wilson 13 – 15 Financial Results Q2 2023 Financial Results 17 – 18 Stable Credit Performance 19 Yield/Rate Analysis 20 – 21 Loan Portfolio Operating Loan Growth 23 | --- | --- | |------------------|-------------| | | | | L ...