Welcome to our dedicated page for Business First B news (Ticker: BFST), a resource for investors and traders seeking the latest updates and insights on Business First B stock.
Business First Bancshares, Inc. (Nasdaq: BFST), the parent company of b1BANK, generates regular news flow through earnings announcements, capital actions and strategic transactions. As a commercial banking organization operating in markets across Louisiana and Texas, its updates provide insight into loan growth, deposit trends, credit quality and overall financial performance.
News releases frequently cover quarterly and annual financial results, including net interest income, net interest margin, loan portfolio composition, deposit changes, securities portfolio activity and provisions for credit losses. These earnings updates are often paired with details on common and preferred stock dividends declared by the board of directors.
Investors following BFST can also track corporate actions and capital management through press releases and Form 8-K filings. Recent examples include the authorization of a stock repurchase program with a defined aggregate purchase limit and term, as well as announcements of quarterly dividends. These items help readers understand how the company manages its capital structure and shareholder returns.
Another key category of news involves mergers and acquisitions. Business First has announced and later completed the acquisition of Progressive Bancorp, Inc. and Progressive Bank, with related disclosures describing expected asset growth, loan balances and expanded presence in North Louisiana. The company also reports on system conversions and branch optimization, such as the sale of a banking branch and integration of acquired bank systems.
Governance and leadership developments appear in releases about board appointments and executive promotions, including roles tied to business transformation, product management, marketing, human resources and community initiatives through the b1 FOUNDATION. Earnings release date announcements and details on conference calls and webcasts provide logistics for analysts and shareholders who wish to hear management’s commentary.
By reviewing the BFST news feed, readers can follow the company’s financial results, acquisition activity, capital decisions and leadership updates in one place.
Business First Bancshares, Inc. (NASDAQ: BFST) reported strong financial results for the year ending December 31, 2021, with net income of $52.1 million, or $2.53 per diluted share, up from $30 million and $1.64 in 2020. This growth was bolstered by a $9.2 million pre-tax gain from the Paycheck Protection Program (PPP) loans. Core net income on a non-GAAP basis was $53.9 million. The bank's loan portfolio expanded 6.63% YoY, totaling $3.2 billion. Despite a slight increase in nonperforming loans, the financial outlook remains stable with a declared quarterly dividend of $0.12 per share.
Business First Bancshares, Inc. (BFST) reported unaudited results for Q3 2021, marking net income of $10.3 million, or $0.50 per diluted share, down from $17.4 million and $0.84 in Q2 2021. Core net income dropped to $10.9 million, which excludes certain items. Total loans increased by $211.4 million (7.4%) QoQ, with notable growth in Dallas and New Orleans. The board declared a quarterly dividend of $0.12 per share. The acquisition of Texas Citizens Bank was confirmed, strengthening regional presence.
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.