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. 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.
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.
Business First Bancshares, Inc. (BFST) reported a strong third quarter 2020 with a net income of $9.6 million ($0.46 per diluted share), up from $5.5 million ($0.40) year-over-year. Core net income reached $11.0 million ($0.53 per diluted share), driven by higher net interest income and reduced acquisition expenses following the Pedestal acquisition. Total loans grew by 81.89% year-over-year, bolstered by the SBA Paycheck Protection Program. However, the company recorded an increase in nonperforming assets as a percentage of total assets to 0.54%. A quarterly dividend of $0.10 was declared.
Baton Rouge, La., Sept. 25, 2020 – b1BANK President and CEO Jude Melville announced the appointment of Carol Calkins to the board of directors of b1BANK and its parent company Business First Bancshares, under the ticker BFST. With over 30 years of experience in finance and ESG, Calkins previously held top roles at PricewaterhouseCoopers. Melville praised her background and connections in Louisiana and Texas as beneficial for the bank’s future. Calkins expressed enthusiasm for contributing to the community banking sector.