Business First Bancshares Stock Earnings Reports

Business First Bancshares reported a solid Q3 2025 with GAAP net income of $21.5M ($0.73/share) and core (non-GAAP) net income of $21.2M ($0.72/share). Management highlighted disciplined expense control (three quarters of essentially flat core noninterest expense) that produced improved operating leverage, better efficiency (core efficiency ratio ~60.45%), stronger capital and tangible book trends, and steady core ROAA of 1.06% for the quarter. The bank completed core system conversions (core bank and Oakwood) and is on track to close Progressive Bank early in Q1 2026 with a scheduled conversion in August 2026. Loan originations remained strong ($452M) but paydowns/payoffs were elevated ($479M), producing modest linked-quarter loan declines; deposit growth was led by interest-bearing deposits while noninterest-bearing balances remain a meaningful portion (~21%). Net interest margin held roughly steady (GAAP NIM 3.68%; core NIM 3.63%) and management expects modest margin expansion in Q4. Noninterest income is growing (including a correspondent banking unit expected to generate ~$17M revenue this year and contribute ~$5M to net income), though quarter-to-quarter results may be bumpy (notably impacted by the federal government shutdown affecting SBA sales). Management reiterated a disciplined view on M&A (focused on integrating current deals and organic growth), continued dividend increases (another $0.01 quarterly increase, marking nine consecutive years of increases), and said higher capital levels restore optionality for future capital deployment, including potential share repurchases.