Business First Bank(US:BFST)2026-01-22 21:01Financial Performance - Business First reported Q4 2025 net income of $21.0 million or $0.71 per diluted common share, a decrease of $0.5 million and $0.02 from the previous quarter[1]. - For the full year 2025, net income available to common stockholders was $82.5 million or $2.79 per diluted common share, an increase of $22.8 million and $0.53 from 2024[2]. - Core net income for Q4 2025 was $23.5 million or $0.79 per diluted common share, an increase of $2.3 million and $0.07 from the linked quarter[1]. - Basic Earnings per Common Share for Q4 2025 was $0.71, compared to $0.52 in Q4 2024, reflecting a year-over-year increase of 36.5%[45]. - Net income available to common shareholders for the twelve months ended December 31, 2025, was $82,460 thousand, reflecting a significant increase of 38.06% from $59,706 thousand in 2024[53]. - Net income available to common shareholders for Q4 2025 was $21,009,000, up from $15,138,000 in Q4 2024, representing a 39.1% increase year-over-year[64]. - Core net income available to common shareholders for the twelve months ended December 31, 2025, was $83,540,000, compared to $65,759,000 for the same period in 2024, reflecting a 27.0% increase[64]. Asset and Loan Growth - Loans held for investment increased by $168.4 million or 2.80% in Q4 2025, with a 11.10% annualized growth rate[7]. - Total Loans Held for Investment (HFI) increased to $6,189,490 thousand as of December 31, 2025, up from $5,981,399 thousand a year earlier, representing a growth of 3.5%[43]. - Total loans increased to $6,023,214 thousand in 2025 from $5,327,466 thousand in 2024, representing a growth of 13.06%[58]. - Total assets increased to $8,214,740 thousand as of December 31, 2025, up from $7,953,862 thousand in the previous quarter, representing a growth of 3.28%[51]. - Total assets reached $7,873,743 thousand in 2025, compared to $6,973,735 thousand in 2024, marking an increase of 12.92%[58]. Deposits and Interest Income - Deposits rose by $191.7 million or 2.95% in Q4 2025, reflecting an 11.69% annualized growth rate[15]. - Net interest income for Q4 2025 totaled $70.9 million, up from $69.3 million in the previous quarter[20]. - Net interest income for the twelve months ended December 31, 2025, was $465,011 thousand, compared to $414,764 thousand in 2024, reflecting a year-over-year increase of 12.09%[60]. - Net interest income for the three months ended December 31, 2025, was $70,862 thousand, an increase of 7.25% compared to $65,729 thousand for the same period in 2024[53]. - Net interest margin for Q4 2025 was stable at 3.71%, compared to 3.68% in the linked quarter[8]. - The net interest margin for the three months ended December 31, 2025, was 3.71%, up from 3.61% in the same period last year, indicating improved efficiency in earning assets[55]. Asset Quality and Risk Management - The ratio of nonperforming loans increased to 1.24% as of Dec. 31, 2025, up 42 basis points from the previous quarter[12]. - Nonperforming Loans to Total Loans (HFI) ratio rose to 1.24% as of December 31, 2025, up from 0.42% a year ago, indicating a deterioration in asset quality[43]. - The Allowance for Loan Losses to Total Loans (HFI) ratio decreased to 0.87% as of December 31, 2025, down from 0.92% a year earlier, suggesting improved loan quality[43]. - Provision for credit losses for the three months ended December 31, 2025, was $3,098 thousand, a decrease from $6,712 thousand in the same quarter of 2024, suggesting improved asset quality[53]. - The allowance for loan losses decreased to $53,959 thousand as of December 31, 2025, compared to $57,062 thousand in the previous quarter, indicating a positive trend in credit risk management[51]. Shareholder Returns and Dividends - Shareholders' equity increased by $18.4 million or 2.10% compared to the linked quarter, with book value per common share rising to $27.95[18]. - The board declared a quarterly common dividend of $0.15 per share based on Q4 financial performance[3]. - Dividends per Common Share increased to $0.15 in Q4 2025, up from $0.14 in both Q4 2024 and Q3 2025, indicating a stable dividend policy[45]. - Total shareholders' equity as of December 31, 2025, was $896,883,000, up from $799,466,000 a year earlier, indicating a 12.2% increase[69]. - Book value per common share increased to $27.95 as of December 31, 2025, from $24.62 a year earlier, reflecting a 13.4% increase[69]. Operational Efficiency - The Efficiency Ratio for Q4 2025 was 63.10%, compared to 63.91% in Q4 2024, showing improved operational efficiency[45]. - The efficiency ratio for Q3 2025 was 63.10%, compared to 60.45% in Q2 2025, indicating a decline in operational efficiency[73]. - Core efficiency ratio improved to 59.74% in Q3 2025 from 60.94% in Q2 2025, showing enhanced cost management[73].