Business First Bancshares OKs up to $30M buyback

The Board may modify, suspend or terminate the program at any time, while any repurchases remain discretionary.

Rhea-AI Filing Summary

Business First Bancshares, Inc. (BFST) approved a common-stock repurchase program authorizing purchases with an aggregate purchase price of up to $30 million. Effective October 29, 2026, the program runs through October 28, 2028. It replaces the prior program, under which approximately $12.4 million remained available as of October 29, 2026; no further repurchases will be made under that prior program.

Repurchases may be made through plans meeting Rule 10b5-1 requirements, open-market purchases in accordance with Rule 10b-18, or privately negotiated transactions. The program does not obligate Business First to repurchase shares, and there is no assurance it will do so. Management has discretion over the number, price and timing of any repurchases.

8-K Event Classification

Item 9.01 — Financial Statements and Exhibits

1 item

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Authorized aggregate purchase price: Up to $30 million Remaining amount under prior program: Approximately $12.4 million Program period: 24 months +3 more

6 metrics

Authorized aggregate purchase price Up to $30 million Business First’s new stock repurchase program

Remaining amount under prior program Approximately $12.4 million Available for repurchases as of October 29, 2026

Program period 24 months October 29, 2026, through October 28, 2028

Assets $8.9 billion Business First company description

Assets under management through SSW $5.5 billion Through b1BANK’s affiliate Smith Shellnut Wilson, LLC; excludes $1.0 billion of b1BANK assets managed by SSW

b1BANK assets managed by SSW $1.0 billion Excluded from the stated $5.5 billion in assets under management

Key Terms

Rule 10b5-1, Rule 10b-18, aggregate purchase price

3 terms

Rule 10b5-1 regulatory

"plans meeting the requirements of Rule 10b5-1"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

Rule 10b-18 regulatory

"open market repurchases will be conducted in accordance with Rule 10b-18"

Rule 10b-18 is a regulation that sets strict rules for how a company's executives and employees can buy back their own company's stock from the market. It helps ensure that these buybacks happen in a fair and transparent way, reducing the chance of market manipulation. This is important for investors because it offers protection against unfair practices and promotes confidence in the integrity of the stock market.

aggregate purchase price financial

"shares of its common stock with an aggregate purchase price of up to $30 million"

The aggregate purchase price is the total amount a buyer pays to acquire a company, assets or securities, including the headline payment plus any assumed debt, fees, taxes and contractually required adjustments. It matters to investors because it shows the true cost of a deal and how much value must be realized after the sale — like knowing the full price of a house once you add closing costs, repairs and outstanding mortgage obligations.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much stock can BFST repurchase under the new program?

Business First authorized repurchases with an aggregate purchase price of up to $30 million from October 29, 2026, through October 28, 2028. The program does not obligate the company to repurchase shares, and there is no assurance it will do so.

Can the Board change BFST’s repurchase program?

Yes. The Board may modify, suspend or terminate the program at any time at its discretion.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/29/2026 - 05:15 PM EDT Accepted by SEC EDGAR 10/29/2026 - 05:15 PM EDT Learn about SEC filing dates

false 0001624322 0001624322 2026-10-29 2026-10-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): October 29, 2026

BUSINESS FIRST BANCSHARES, INC.

(Exact name of registrant as specified in its charter)
 

Louisiana	001-38447	20-5340628
(State of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
500 Laurel Street, Suite 101 Baton Rouge, Louisiana		70801
(Address of principal executive offices)		(Zip code)
Registrant’s telephone number, including area code: (225) 248-7600

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $1.00 per share	BFST	NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 

Emerging growth company         ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐ 

8.01 Other Events.

The Board of Directors of Business First Bancshares, Inc. (“Business First”) approved a stock repurchase program to be effective October 29, 2026, which authorizes Business First to repurchase shares of its common stock with an aggregate purchase price of up to $30,000,000 from time to time, subject to certain limitations and conditions. The stock repurchase program is effective immediately and will continue until October 28, 2028. The stock repurchase program does not obligate Business First to repurchase any shares of its common stock, and there is no assurance that Business First will do so.

Business First’s previously announced stock repurchase program, which became effective on October 28, 2025, authorized the repurchase of shares of Business First’s common stock having an aggregate purchase price of up to $30.0 million. As of October 29, 2026, approximately $12.4 million remained available for repurchases under the prior program. The new stock repurchase program is intended to replace the prior program, and no further repurchases will be made under the prior program.

Repurchases under the program may be effected through one or more plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, open market purchases, privately negotiated transactions, or otherwise in a manner that is intended to comply with applicable federal securities laws. Any open market repurchases will be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements. The number, price and timing of the repurchases, if any, will be at the sole discretion of Business First’s management and will depend on a number of factors, including compliance with applicable laws and regulations, general market and economic conditions, the financial and regulatory condition of Business First and b1BANK, Business First’s liquidity needs, and other factors. The Board may modify the program from time to time, including by increasing or decreasing the amount authorized, terminating or renewing the program, or changing the program’s end date.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1	Press Release of Business First Bancshares, Inc., dated October 29, 2026.
104	Cover Page Interactive Data File (embedded within the Inline XBRL Document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: October 29, 2026

BUSINESS FIRST BANCSHARES, INC.
By:	/s/ David R. Melville, III
	David R. Melville, III
	President and Chief Executive Officer

Exhibit 99.1

500 Laurel Street Baton Rouge, LA 70801 Phone: 877.614.7600

FOR IMMEDIATE RELEASE October 29, 2026      Misty Albrecht b1BANK 225.286.7879 Misty.Albrecht@b1BANK.com

Business First Bancshares, Inc. Announces
Stock Repurchase Program

BATON ROUGE, La. – October 29, 2026 – Business First Bancshares, Inc. (Nasdaq: BFST) (“Business First”), the holding company for b1BANK, announced today that its Board of Directors has approved a stock repurchase program authorizing the company to repurchase shares of its common stock with an aggregate purchase price of up to $30 million during the 24-month period beginning Oct. 29, 2026, and ending Oct. 28, 2028.

Repurchases may be made from time to time in the open market in accordance with Rule 10b-18 of the Securities and Exchange Commission or through privately negotiated transactions at prices management considers to be attractive and in the best interests of Business First and its shareholders.

Any repurchases will be conducted in compliance with applicable laws and regulations and will depend on general market and economic conditions, the financial and regulatory condition of Business First and b1BANK, liquidity requirements and other factors management considers relevant. The program does not obligate Business First to repurchase shares of its common stock, and there is no assurance that it will do so. The program may be modified, suspended or terminated at any time at the discretion of the Board.

About Business First Bancshares, Inc.

Business First Bancshares, Inc. (Nasdaq: BFST), through its banking subsidiary b1BANK, has $8.9 billion in assets, $5.5 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (not including $1.0 billion of b1BANK assets managed by SSW) and operates Banking Centers and Loan Production Offices in markets across Louisiana and Texas, providing commercial and personal banking products and services. b1BANK is a 2024 Mastercard “Innovation Award” winner and multiyear winner of American Banker Magazine’s “Best Banks to Work For.” Visit b1BANK.com for more information.

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Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 7.6 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.3 KB