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Business First Bancshares, Inc. (BFST) is a United States-based bank holding company headquartered in Baton Rouge, Louisiana. Through its banking subsidiary, b1BANK, the company offers a comprehensive suite of financial services tailored to both individuals and businesses. Core offerings include personal and commercial banking, treasury management, and wealth solutions designed to help clients achieve their financial goals.
Personal and Commercial Banking: Business First provides a wide array of banking services including commercial loans, letters of credit, working capital lines, equipment financing, and deposit products. The company is focused on providing customized solutions for small-to-midsized businesses and professionals.
Treasury Management and Wealth Solutions: The company's treasury management services aim to help businesses manage their financial activities efficiently. Wealth solutions cater to both individuals and enterprises, ensuring comprehensive financial planning and asset management.
Financial Overview: As of July 27, 2023, Business First boasts $6.5 billion in assets and $6.4 billion under management through its affiliate Smith Shellnut Wilson, LLC. This financial strength underscores its ability to offer high-quality service and maintain stability even in challenging economic times.
Recent Achievements: Business First has been recognized repeatedly for its excellent work culture. It was honored as one of American Banker Magazine's top 40 banks to work for in 2014 and has consistently been named among the best banks to work for by the same publication. Additionally, Forbes and Statista awarded b1BANK the #1 Best-In-State Bank in Louisiana.
Recent Developments: The company recently announced its unaudited financial results for the quarter ended March 31, 2024, reporting net income available to common shareholders of $12.2 million. Despite a decrease in earnings compared to the previous quarter, the company focused on foundational work that promises greater earnings potential in the long term. Notable activities include the acquisition and integration of Waterstone, a Loan Service Provider that facilitates SBA production for banks nationwide.
Partnerships and Community Engagement: Business First is committed to being a financial partner of choice, supporting enterprises, their owners, and employees. The company operates Banking Centers and Loan Production Offices across Louisiana and the Dallas and Houston, Texas areas, indicating robust regional engagement and community involvement.
Visit b1BANK.com for more information.
Business First Bancshares, Inc. (NASDAQ: BFST) announced its first quarter 2023 earnings release scheduled for April 27, 2023, after market close. The management team will host a conference call at 4:30 p.m. CDT on the same day to discuss the results. Interested parties can join the call by dialing 1-800-715-9871 and using conference ID 8276536. A live webcast will be available on the company’s website and a corresponding slide presentation will be released.
As of December 31, 2022, Business First Bancshares reported $6.0 billion in assets and $6.5 billion in assets under management through its affiliate Smith Shellnut Wilson, LLC. The bank operates in Louisiana and Texas, offering a range of commercial and personal banking services. Notably, b1BANK was recognized as the #1 Best-In-State Bank in Louisiana by Forbes.
Business First Bancshares (NASDAQ: BFST) reported its financial results for the year ended December 31, 2022. The company achieved a net income of $52.9 million, or $2.32 per diluted share, reflecting a year-over-year increase of $0.8 million, despite a decrease of $0.21 in EPS. Core net income rose to $57.6 million, with a core EPS of $2.52. For Q4 2022, net income was $16.6 million, or $0.67 per share, up by $2.8 million from Q3 2022. Loan growth was robust, with total loans at $4.6 billion, a 3.98% quarterly increase. The board declared a quarterly dividend of $0.12 per share, payable February 28, 2023.
B1BANK has announced plans to relocate its Ryan Street location to a new facility in downtown Lake Charles later this year, driven by significant growth in the area since 2009. The new building, located at 825 Ryan Street, will offer larger space, additional parking, a drive-thru service, and an Interactive Teller Machine for extended access to banking services. The design will reflect local historic architecture while incorporating modern technologies for storm resilience. Business First Bancshares, Inc. (Nasdaq: BFST), the parent company, manages $5.8 billion in assets and operates throughout Louisiana and parts of Texas, offering a range of commercial and personal banking services.
Business First Bancshares, Inc. (NASDAQ: BFST) announced its plans to release fourth quarter 2022 earnings on January 25, 2023, after market close. A conference call will be held on January 26, 2023, at 8:00 a.m. CDT to discuss the results. Business First Bancshares, with $5.8 billion in assets and $6.3 billion in assets under management as of September 30, 2022, operates through its subsidiary b1BANK, providing various banking products in Louisiana and Texas. The company has been recognized as #1 Best-In-State Bank in Louisiana by Forbes.
Business First Bancshares, Inc. (NASDAQ: BFST) has appointed N. Jerome “Jerry” Vascocu, Jr. as its first Chief Administrative Officer, a move aimed at leveraging his extensive banking experience for the company's growth. Vascocu brings over 27 years in the banking sector, previously holding a strategic role at First Horizon Bank. His responsibilities will include supporting various departments to enhance operational efficiency. The appointment aligns with the bank's commitment to creating a strong internal culture that fosters client relations, indicating a proactive approach to future growth opportunities.
Business First Bancshares, Inc. (NASDAQ: BFST) reported net income of $13.8 million or $0.61 per diluted share for Q3 2022, unchanged from Q2 2022. Core net income rose to $16.4 million, or $0.72 per diluted share, reflecting a $1.8 million increase. Total loans increased by $316.2 million (7.69%) to $4.4 billion, driven primarily by growth in the Dallas market. Net interest income rose to $53.5 million, with a net interest margin of 4.05%. The board declared a dividend of $0.12 per share, consistent with the prior quarter.
Business First Bancshares, Inc. (NASDAQ: BFST) will release its third quarter 2022 earnings on October 26, 2022, after market close. A conference call to discuss the results is scheduled for October 27, 2022, at 2:00 p.m. CDT. Interested participants can join the call by dialing 1-800-715-9871, using conference ID 3389208. Business First Bancshares manages $5.5 billion in assets and operates across Louisiana and Texas, offering a range of banking services. The company is recognized as the #1 Best-In-State Bank in Louisiana by Forbes.
Business First Bancshares (NASDAQ: BFST) has announced an underwritten public offering of 2,500,000 shares at $20.00 each, aiming for net proceeds of approximately $46.75 million. The proceeds will support general corporate purposes, including capital augmentation, organic growth, and potential acquisitions. The offering is expected to close around October 17, 2022, with Stephens Inc. as the book-running manager. This move comes as the company manages $5.5 billion in assets and was recognized as the #1 Best-In-State Bank in Louisiana by Forbes.
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