Business First Bancshares, Inc. operates as the bank holding company for b1BANK, a bank serving personal and commercial customers with banking, treasury management and wealth solutions. Company news commonly covers operating results, earnings-call materials, dividend actions and capital management tied to lending, deposit activity, fees and securities income.
Recurring developments also include commercial and corporate banking initiatives, technology partnerships for loan and deposit operations, subordinated debt financing, shareholder voting matters and governance updates. These items reflect BFST's public-company disclosures around bank growth, regulatory capital support and the operating capabilities of b1BANK.
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.
Business First Bancshares, Inc. (NASDAQ: BFST) has successfully raised $72.0 million through a private placement of preferred stock. This capital will support the growth of b1BANK and assist small businesses across Louisiana and Texas. The preferred stock features a 7.50% fixed dividend for the first five years, transitioning to a variable rate thereafter. The funds will also be used for strategic opportunities and to repay existing debt. As of June 30, 2022, the company holds $5.5 billion in assets and manages an additional $6.2 billion through its affiliate.
Business First Bancshares (NASDAQ: BFST) reported a net income of $13.8 million or $0.61 per diluted share for Q2 2022, reflecting significant growth from $8.7 million in Q1 2022. Core net income was $14.6 million, up from $10.3 million. Total loans rose by $365.2 million (9.74%) to $4.1 billion, driven by growth in Texas and Louisiana markets. Net interest income increased to $49.6 million, with a net interest margin of 3.98%. The board declared a dividend of $0.12 per share, consistent with the previous quarter.
Business First Bancshares reported unaudited results for Q1 2022, showing a net income of $8.7 million or $0.41 per diluted share, down from $12.1 million in Q4 2021. Core net income was $10.3 million or $0.49 per diluted share. Key highlights include a 25% annualized loan growth, completion of the Texas Citizens Bank acquisition, and stabilization in net interest margin at 3.51%. A quarterly dividend of $0.12 per share was declared. However, there were increases in expenses linked to the acquisition and salaries.
Business First Bancshares, Inc. (Nasdaq: BFST) has successfully acquired Texas Citizens Bancorp, Inc., effective March 1, 2022. This strategic move expands b1BANK's Texas footprint, adding six banking locations in the Houston area. With the merger, b1BANK's assets rise to approximately $5.3 billion, with $3.6 billion in loans and $4.6 billion in deposits. Key leaders from Texas Citizens will join b1BANK's executive team, positioning the company for growth in serving small and mid-sized businesses in Houston.