Business First Bancshares ( (BFST) ) has released its Q4 earnings. Here is a breakdown of the information Business First Bancshares presented to its investors.
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Business First Bancshares, Inc. operates as the parent company of b1BANK, offering commercial and personal banking services across Louisiana and Texas, with a strong presence in commercial loans and treasury management services. The company has been recognized for its excellence in banking and work environment.
In its latest earnings report for the fiscal year 2024 and the fourth quarter, Business First Bancshares announced a decrease in net income available to common shareholders compared to the previous year. The company reported a net income of $15.1 million for the fourth quarter, showing a decrease from the linked quarter, although core net income increased. The year saw the completion of the Oakwood Bancshares acquisition, enhancing its asset base and client portfolio.
Key financial metrics reveal an expansion in net interest margin and strong deposit and loan growth, primarily influenced by the Oakwood acquisition. The net interest income for the fourth quarter rose to $65.7 million, driven by improved cost of funding. Additionally, the company saw significant growth in noninterest income and deposit levels, with a notable increase in customer swap business revenue. Organic deposit and loan growth were also positive, reflecting steady financial positioning.
Despite some decreases in annual net income, Business First Bancshares maintains a solid financial condition with sound credit quality metrics. The acquisition of Oakwood has bolstered its asset and deposit base, contributing to a robust balance sheet. Shareholders’ equity saw a healthy increase, although tangible book value per share experienced a slight decrease due to fair value adjustments.
Looking forward, the management of Business First Bancshares anticipates continued growth and diversification in 2025, leveraging its expanded operations and client base to meet and exceed stakeholder expectations. The company remains committed to enhancing its financial performance and maintaining strong asset quality.
