Business First B Stock Price, News & Analysis

Business First Bancshares (Nasdaq: BFST) has announced its acquisition of Texas Citizens Bancorp, expanding its market footprint into Houston. The transaction, valued at approximately $52.9 million, will combine Business First's total assets of $4.4 billion with Texas Citizens' $516.9 million, resulting in consolidated assets of about $4.9 billion. Shareholders of Texas Citizens will receive 0.7038 shares of Business First stock per share held. The deal aims to enhance customer service and strengthen community contributions. The merger is expected to close in Q1 2022, pending shareholder and regulatory approvals.

Business First Bancshares, Inc. (NASDAQ: BFST) reported a strong second quarter 2021, with a net income of $17.4 million ($0.84 per diluted share), an increase of $5.1 million from Q1 2021. Core net income rose to $18.7 million ($0.90 per diluted share). Record loan growth was achieved, driven by the Dallas market, despite a $187.1 million decrease in total loans due to the sale of SBA PPP loans. Nonperforming loans decreased to 0.40%. The company declared a dividend of $0.12 per share, consistent with the previous quarter.

Business First Bancshares, Inc. (NASDAQ: BFST) has issued a statement regarding the passing of former governor and congressman Charles Elson “Buddy” Roemer III at age 77. He died early in the morning, surrounded by family, following a recent illness. The Roemer family expressed their sorrow while celebrating Buddy's life and legacy, highlighting his contributions towards combating corruption and enhancing education. Funeral arrangements will be announced later. Business First operates b1BANK in Louisiana and Dallas, providing various banking services.

Business First Bancshares, parent company of b1BANK, reported a Q1 2021 net income of $12.3 million ($0.59 per diluted share), down from $13.8 million ($0.67 per share) in Q4 2020. Core net income also decreased to $12.6 million, with a $0.61 EPS. Total loans held for investment rose by $50.6 million (1.69%), boosted by $71.9 million in SBA PPP loans. The company declared a quarterly dividend of $0.12 per share, up $0.02. However, nonperforming loans increased to 0.44% of total loans.

Business First Bancshares, Inc. (Nasdaq: BFST) announced the appointment of Drew Brees to its board of directors. Brees, a former NFL quarterback and philanthropist, aims to leverage his influence to support small businesses and community initiatives. With a notable track record, including his MVP award from Super Bowl XLIV and significant charitable contributions, he is expected to enhance the bank's outreach and impact in Louisiana and Texas. CEO Jude Melville expressed excitement over Brees' involvement, anticipating positive community benefits.

Business First Bancshares, Inc. (NASDAQ: BFST) has completed a private placement of $52.5 million in 4.250% fixed-to-floating rate subordinated notes due 2031. The proceeds will bolster b1BANK's capital base for growth and strategic opportunities, addressing existing borrowings and general corporate needs. The initial interest rate is 4.250% until March 2026, after which it will adjust quarterly based on the SOFR. This issuance strengthens Business First's capital levels, supporting future initiatives.

Business First Bancshares, Inc. (NASDAQ: BFST) announced a definitive agreement to acquire investment advisor Smith Shellnut Wilson, LLC (SSW). This strategic move, expected to close in the coming weeks, aims to enhance b1BANK's product offerings and strengthen its investment services. SSW, with $3.5 billion in assets under management as of December 31, 2020, will be consolidated into b1BANK’s Wealth Solutions Division. The merger is anticipated to provide more customized client services, leveraging shared values and a commitment to relationship-focused portfolio management.

Business First Bancshares (Nasdaq: BFST) and b1BANK have appointed John Ducrest to their boards of directors. Ducrest, the former Commissioner of Louisiana's Office of Financial Institutions, brings over 35 years of experience, including significant roles in national financial organizations. His expertise in policy development and relationships with policymakers is expected to enhance the board's effectiveness. CEO Jude Melville highlighted Ducrest's leadership impact during critical periods, such as post-Hurricane Katrina recovery. Ducrest expressed eagerness to contribute to the company's growth.

Business First Bancshares, Inc. (BFST) reported its unaudited financial results for the year ended December 31, 2020, revealing a net income of $30.0 million, or $1.64 per diluted share, compared to $23.8 million, or $1.74 per diluted share in 2019. Core net income rose to $37.5 million, or $2.05 per diluted share. Q4 2020 net income surged to $13.8 million, with core net income of $14.1 million. Total loans decreased by $91.1 million, mainly due to PPP loan forgiveness. A quarterly dividend of $0.10 per share was declared, with a book value of $19.88 per share as of December 31, 2020.