Quarterly ResultApr 27, 2026, 08:04 AM
BFST Q1 Net Income $22.2M; Progressive Bancorp Acquisition Closed
AI Summary
Business First Bancshares, Inc. announced its unaudited Q1 2026 results, reporting net income of $22.2 million ($0.68 EPS) and core net income of $24.0 million ($0.73 EPS). The quarter included the consummation of the Progressive Bancorp, Inc. acquisition, which added $773.8 million in assets and expanded b1BANK's presence with nine new banking centers. The company also strengthened its capital ratios, improved liquidity, added key personnel in Houston, formed a strategic AI partnership with Covecta, and completed a self-managed subordinated debt issuance.
Key Highlights
- BFST completed the acquisition of Progressive Bancorp, adding $773.8M in assets and 9 banking centers.
- Net income available to common shareholders was $22.2M, or $0.68 per diluted common share.
- Core net income (non-GAAP) was $24.0M, or $0.73 per diluted common share.
- Declared a quarterly common dividend of $0.15 per share and a preferred dividend of $18.75 per share.
- Repurchased 99,105 shares for $2.7M at a weighted average price of $27.75 per share.
- Issued $85.0M in 6.50% fixed-to-floating rate subordinated notes due 2036.
- Loans held for investment increased $494.8M or 7.99% from the linked quarter.
- Deposits increased $766.4M or 11.44% from the linked quarter.