Business First Bancshares, Inc. (NASDAQ: BFST) (Business First),
parent company of b1BANK, today announced its unaudited results for
the year ended December 31, 2023, including net income available to
common shareholders of $65.6 million or $2.59 per diluted common
share, increases of $12.7 million and $0.27, respectively, from the
prior year ended December 31, 2022. On a non-GAAP basis, core net
income for the year ended December 31, 2023, which excludes certain
income and expenses, was $66.3 million or $2.62 per diluted common
share, increases of $8.7 million and $0.10, respectively, from
prior year ended December 31, 2022.
For the quarter ended December 31, 2023, Business First reported
net income available to common shareholders of $14.5 million, or
$0.57 per diluted common share, decreases of $4.6 million and
$0.19, respectively, from the quarter ended September 30, 2023. On
a non-GAAP basis, core net income for the quarter ended December
31, 2023, which excludes certain income and expenses, was $16.8
million or $0.66 per diluted common share, decreases of $1.1
million and $0.05, respectively, compared to the linked
quarter.
“There have been very few years in our company’s life of which
I’ve been prouder than I am of the year 2023,” said Jude Melville,
president and CEO. “As our country generally, and banking
specifically, faced the challenge of navigating swiftly moving
economic currents, our team was a source of stability, performing
consistently and well for our clients and our investors. We
are a stronger organization and better bankers than we were at the
beginning of the year, and I am excited to see that improvement
continue over the course of 2024.”
On Tuesday, January 23, 2024, Business First’s board of
directors declared a quarterly preferred dividend in the amount of
$18.75 per share, which is the full quarterly dividend of 1.875%
based on the per annum rate of 7.50%. Additionally, the board of
directors declared a quarterly common dividend based upon financial
performance for the fourth quarter in the amount of $0.14 per
share. The preferred and common dividends will be paid on February
28, 2024, or as soon thereafter as practicable, to the shareholders
of record as of February 15, 2024.
Quarterly Highlights
- Return on Assets and
Equity. Return to common shareholders on average assets
and common equity, each on an annualized basis, were 0.88% and
10.54% for the quarter ended December 31, 2023, compared to 1.17%
and 14.16%, respectively, for the linked quarter. Non-GAAP core
return on average assets and common equity, each on an annualized
basis, were 1.03% and 12.27% for the quarter ended December 31,
2023, compared to 1.10% and 13.32%, respectively, for the linked
quarter.
- Credit Quality. The
ratios of nonperforming loans compared to loans held for investment
and nonperforming assets compared to total assets remained stable
at 0.34% and 0.28% at December 31, 2023, increasing slightly from
0.33% and 0.27%, respectively, at September 30, 2023, due to an
increase in nonaccrual loans.
- Security/Balance Sheet
Repositioning. During the fourth quarter, Business First
executed a balance sheet repositioning related to its
available-for-sale (AFS) security portfolio. Business First sold
$71.5 million or approximately 8.13% of the December 31, 2023,
portfolio, in treasury, agency and municipal securities, with a
weighted average book yield of 1.98%. Business First redeployed the
proceeds into agency securities with an average book yield of
5.17%, locking in higher yields while keeping duration consistent
with the overall portfolio weighted average life. The repositioning
resulted in a loss of $2.5 million with an estimated earn back of
1.1 years as of December 31, 2023.
- Net Interest Margin.
For the quarter ended December 31, 2023, net interest income
totaled $53.8 million and net interest margin and net interest
spread were 3.50% and 2.53%, respectively, compared to $55.3
million, 3.61% and 2.68% for the linked quarter. Non-GAAP net
interest margin and net interest spread (excluding loan discount
accretion of $1.9 million) were 3.38% and 2.40%, respectively, for
the quarter ended December 31, 2023, compared to 3.46% and 2.53%
(excluding loan discount accretion of $2.4 million) for the linked
quarter.
Statement of Financial
Condition
Loans
Loans held for investment increased $72.5 million or 1.47%,
5.85% annualized, from the linked quarter. Loan growth from the
linked quarter was largely attributable to net growth in the
commercial and industrial (C&I) portfolio of $26.5 million and
in the commercial real estate portfolio of $89.1 million, offset by
a $39.0 million reduction in the construction and development
(C&D) portfolio. Annual loan growth for fiscal year 2023, was
$386.6 million or 8.39%.
The Dallas Fort Worth region produced 50.64% of net loan growth
from the linked quarter based on unpaid principal balance, while
the Greater New Orleans region produced 37.68%. Based on unpaid
principal balances, Texas-based loans represent approximately 37%
of the overall loan portfolio as of December 31,
2023.
Credit Quality
The ratios of nonperforming loans compared to loans held for
investment and nonperforming assets compared to total assets
remained stable at 0.34% and 0.28% at December 31, 2023, increasing
slightly from 0.33% and 0.27%, respectively, at September 30, 2023,
due to an increase in nonaccrual loans.
Securities
The securities portfolio increased $29.9 million or 3.51%, from
the linked quarter. The increase was driven by positive fair value
adjustments of $35.1 million. The securities portfolio, based on
estimated fair value, represented 13.36% of total assets as of
December 31, 2023.
During the fourth quarter, Business First executed a balance
sheet repositioning related to its available-for-sale (“AFS”)
security portfolio. Business First sold $71.5 million, or
approximately 8.13% of the December 31, 2023, portfolio, in
treasury, agency, and municipal securities, with a weighted average
book yield of 1.98%. Business First re-deployed the proceeds into
agency securities with an average book yield of 5.17%, locking in
higher yields while keeping duration consistent with the overall
portfolio weighted average life. The repositioning resulted in a
loss of $2.5 million with an estimated earn back of 1.1 years as of
December 31, 2023.
Deposits
Deposits increased $58.1 million or 1.12%, 4.44% annualized, for
the quarter ended December 31, 2023. Annual deposit growth for
fiscal year 2023, was $428.4 million or 8.89%.
During the quarter ended December 31, 2023, noninterest-bearing
deposits decreased $113.3 million or 8.02% and interest-bearing
deposits increased $171.4 million or 4.54%, compared to the linked
quarter, with certificate of deposit (CD) accounts declining $75.3
million or 5.47%. Money market accounts increased $160.3 million or
13.55% from the linked quarter.
Borrowings
Borrowings decreased $7.4 million or 1.16%, from the linked
quarter due to a decline in repurchase agreements and repayments on
a Federal Home Loan Bank (FHLB) term loan.
Shareholders’ Equity
Accumulated other comprehensive income (AOCI) improved $27.7
million during the fourth quarter due to positive after-tax fair
value adjustments in the securities portfolio. Book value per
common share increased to $22.58 at December 31, 2023, compared to
$21.01 at September 30, 2023, due to continued earnings growth and
positive securities fair value adjustments. On a non-GAAP basis,
tangible book value per common share increased to $18.62 at
December 31, 2023, compared to $17.03 at September 30, 2023.
Results of Operations
Net Interest Income
For the quarter ended December 31, 2023, net interest income
totaled $53.8 million, compared to $55.3 million from the linked
quarter. Loan and interest-earning asset yields of 6.87% and 6.17%,
respectively, increased 3 basis points and 7 basis points,
respectively, compared to 6.84% and 6.10% from the linked quarter.
Net interest margin and net interest spread were 3.50% and 2.53%
compared to 3.61% and 2.68%, respectively, for the linked quarter.
The overall cost of funds, which include noninterest-bearing
deposits, increased from 2.59% to 2.79% or 20 basis points, from
the linked quarter due to higher cost deposits and $30.8 million
less in average noninterest bearing deposits.
Non-GAAP net interest income (excluding loan discount accretion
of $1.9 million) totaled $51.8 million for the quarter ended
December 31, 2023, compared to $52.9 million (excluding loan
discount accretion of $2.4 million) from the linked quarter.
Non-GAAP net interest margin and net interest spread (excluding
loan discount accretion of $1.9 million) were 3.38% and 2.40%,
respectively, for the quarter ended December 31, 2023, compared to
3.46% and 2.53% (excluding loan discount accretion of $2.4 million)
for the linked quarter. Excluding loan discount accretion, loan
yields increased 8 basis points to 6.72% from 6.64%, and interest
earnings asset yields increased 11 basis points to 6.05% from
5.94%, compared to the linked quarter.
Provision for Credit Losses
During the quarter ended December 31, 2023, Business First
recorded a provision for credit losses of $119,000, compared to
$604,000 for the linked quarter. The current quarter’s reserve
decreased largely due to adjustments associated with various
qualitative factors.
Other Income
For the quarter ended December 31, 2023, other income decreased
$3.5 million or 35.11%, compared to the linked quarter. The net
decrease was largely attributable to a $2.5 million loss on sale of
securities due to Business First’s security repositioning
initiative, a $1.0 million loss in equity investment income, and a
$919,000 gain related to a branch sale which occurred during the
linked quarter, partially offset by $964,000 of back-to-back
customer swap fee income which occurred during the quarter.
Other Expenses
For the quarter ended December 31, 2023, other expenses
increased by $1.1 million or 2.87%, compared to the linked quarter.
The net increase was largely attributable to $654,000 in customer
fraud/operational losses within other expense, $490,000 in other
real estate owned expenses ($432,000 was related to a former bank
premises), and an additional $466,000 in data processing costs
compared to the linked quarter, offset by a reduction of $700,000
to the ad valorem shares tax expense.
Return on Assets and Common Equity
Return to common shareholders on average assets and common
equity, each on an annualized basis, were 0.88% and 10.54% for the
quarter ended December 31, 2023, compared to 1.17% and 14.16%,
respectively, for the linked quarter. Non-GAAP return to common
shareholders on average assets and common equity, each on an
annualized basis, were 1.03% and 12.27% for the quarter ended
December 31, 2023, compared to 1.10% and 13.32%, respectively, for
the linked quarter.
Conference Call and Webcast
Executive management will host a conference call
and webcast to discuss results onTuesday, January 23, 2024, at 4:30
p.m. Central time. Interested parties may attend the call by
dialing toll-free 1-800-715-9871 (North America only), conference
ID 4061156, or asking for the Business First Bancshares conference
call. The live webcast can be found at
https://edge.media-server.com/mmc/p/gctma4g8. The corresponding
slide presentation can be assessed the day of the presentation on
b1BANK’s website at https://www.b1bank.com/shareholder-info.
About Business First Bancshares,
Inc.
Business First Bancshares, Inc., (Nasdaq: BFST)
through its banking subsidiary b1BANK, has $6.6 billion in assets,
$6.0 billion in assets under management through b1BANK’s affiliate
Smith Shellnut Wilson, LLC (SSW) (excludes $0.9 billion of b1BANK
assets managed by SSW) and operates Banking Centers and Loan
Production Offices in markets across Louisiana and the Dallas and
Houston, Texas areas, providing commercial and personal banking
products and services. Commercial banking services include
commercial loans and letters of credit, working capital lines and
equipment financing, and treasury management services. b1BANK was
awarded #1 Best-In-State Bank, Louisiana, by Forbes and Statista,
and is a multiyear winner of American Banker’s “Best Banks to Work
For.” Visit b1BANK.com for more information.
Non-GAAP Financial Measures
This press release includes certain non-GAAP
financial measures (e.g., referenced as “core” or “tangible”)
intended to supplement, not substitute for, comparable GAAP
measures. “Core” measures typically adjust income available to
common shareholders for certain significant activities or
transactions that, in management’s opinion, can distort
period-to-period comparisons of Business First’s performance.
Transactions that are typically excluded from non-GAAP “core”
measures include realized and unrealized gains/losses on former
bank premises and equipment, investment sales, acquisition-related
expenses (including, but not limited to, legal costs, system
conversion costs, severance and retention payments, etc.).
“Tangible” measures adjust common equity by subtracting goodwill,
core deposit intangibles, and customer intangibles, net of
accumulated amortization. Management believes presentations of
these non-GAAP financial measures provide useful supplemental
information that is essential to a proper understanding of the
operating results of Business First’s core business. These non-GAAP
disclosures are not necessarily comparable to non-GAAP measures
that may be presented by other companies. Reconciliations of
non-GAAP financial measures to GAAP financial measures are provided
at the end of the tables below.
Special Note Regarding Forward-Looking
Statements
Certain statements contained in this release may
not be based on historical facts and are “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements may be
identified by their reference to a future period or periods or by
the use of forward-looking terminology such as “anticipate,”
“believe,” “estimate,” “expect,” “may,” “might,” “will,” “would,”
“could,” or “intend.” We caution you not to place undue reliance on
the forward-looking statements contained in this news release, in
that actual results could differ materially from those indicated in
such forward-looking statements as a result of a variety of
factors, including those factors specified in our Annual Report on
Form 10-K and other public filings. We undertake no obligation to
update these forward-looking statements to reflect events or
circumstances that occur after the date of this news release.
Additional Information
For additional information about Business First,
you may obtain Business First’s reports that are filed with the
Securities and Exchange Commission (SEC) free of charge by using
the SEC’s EDGAR service on the SEC’s website at www.SEC.gov or by
contacting the SEC for further information at 1-800-SEC-0330.
Alternatively, these documents can be obtained free of charge from
Business First by directing a request to: Business First
Bancshares, Inc., 500 Laurel Street, Suite 101, Baton Rouge,
Louisiana 70801, Attention: Corporate Secretary.
No Offer or Solicitation
This release does not constitute or form part of
any offer to sell, or a solicitation of an offer to purchase, any
securities of Business First. There will be no sale of securities
in any jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of such jurisdiction.
Misty
Albrechtb1BANK225.286.7879Misty.Albrecht@b1BANK.com
Business
First Bancshares, Inc. |
|
Selected
Financial Information |
|
(Unaudited) |
|
|
Three Months Ended |
|
|
December 31, |
September 30, |
December 31, |
|
(Dollars in thousands) |
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
|
|
|
|
|
Balance Sheet Ratios |
|
|
|
|
|
|
|
|
|
Loans (HFI)
to Deposits |
|
95.12 |
% |
|
94.79 |
% |
|
95.56 |
% |
|
Shareholders' Equity to Assets Ratio |
|
9.78 |
% |
|
9.31 |
% |
|
9.69 |
% |
|
|
|
|
|
|
Loans Receivable Held for Investment (HFI) |
|
|
|
|
|
|
|
|
|
Commercial
(1) |
$ |
1,358,838 |
|
$ |
1,332,384 |
|
$ |
1,153,873 |
|
|
Real
Estate: |
|
|
|
|
Commercial |
|
2,217,928 |
|
|
2,128,855 |
|
|
2,020,406 |
|
|
Construction |
|
669,798 |
|
|
708,835 |
|
|
722,074 |
|
|
Residential |
|
682,394 |
|
|
686,921 |
|
|
656,378 |
|
|
Total Real Estate |
|
3,570,120 |
|
|
3,524,611 |
|
|
3,398,858 |
|
|
Consumer and
Other |
|
63,827 |
|
|
63,278 |
|
|
53,445 |
|
|
Total Loans
(Held for Investment) |
$ |
4,992,785 |
|
$ |
4,920,273 |
|
$ |
4,606,176 |
|
|
|
|
|
|
|
Allowance for Loan Losses |
|
|
|
|
|
|
|
|
|
Balance,
Beginning of Period |
$ |
41,129 |
|
$ |
42,013 |
|
$ |
35,201 |
|
|
Charge-offs
– Quarterly |
|
(1,039 |
) |
|
(2,423 |
) |
|
(387 |
) |
|
Recoveries –
Quarterly |
|
152 |
|
|
685 |
|
|
313 |
|
|
Provision
for Loan Losses – Quarterly |
|
172 |
|
|
854 |
|
|
3,051 |
|
|
Balance, End
of Period |
$ |
40,414 |
|
$ |
41,129 |
|
$ |
38,178 |
|
|
|
|
|
|
|
Allowance
for Loan Losses to Total Loans (HFI) |
|
0.81 |
% |
|
0.84 |
% |
|
0.83 |
% |
|
Allowance
for Credit Losses to Total Loans (HFI) (2) |
|
0.88 |
% |
|
0.90 |
% |
|
0.84 |
% |
|
Net
Charge-offs (Recoveries) to Average Quarterly Total Loans |
|
0.02 |
% |
|
0.04 |
% |
|
0.00 |
% |
|
|
|
|
|
|
Remaining
Loan Purchase Discount |
$ |
12,286 |
|
$ |
14,752 |
|
$ |
27,000 |
|
|
|
|
|
|
|
Nonperforming Assets |
|
|
|
|
|
|
|
|
|
Nonperforming Loans: |
|
|
|
|
Nonaccrual Loans (1) |
$ |
16,943 |
|
$ |
16,029 |
|
$ |
11,054 |
|
|
Loans Past Due 90 Days or More (1) |
|
127 |
|
|
247 |
|
|
335 |
|
|
Total Nonperforming Loans |
|
17,070 |
|
|
16,276 |
|
|
11,389 |
|
|
Other
Nonperforming Assets: |
|
|
|
|
Other Real Estate Owned |
|
1,685 |
|
|
1,558 |
|
|
1,372 |
|
|
Other Nonperforming Assets |
|
- |
|
|
- |
|
|
62 |
|
|
Total Other Nonperforming Assets |
|
1,685 |
|
|
1,558 |
|
|
1,434 |
|
|
Total Nonperforming Assets |
$ |
18,755 |
|
$ |
17,834 |
|
$ |
12,823 |
|
|
|
|
|
|
|
Nonperforming Loans to Total Loans (HFI) |
|
0.34 |
% |
|
0.33 |
% |
|
0.25 |
% |
|
Nonperforming Assets to Total Assets |
|
0.28 |
% |
|
0.27 |
% |
|
0.21 |
% |
|
|
|
|
|
|
(1) Past due and
nonaccrual loan amounts exclude acquired impaired loans, even if
contractually past due or if the Company does not expect to
receive payment in full, as the Company was currently accreting
interest income over the expected life of the loans for the
period ended December 31, 2023, in accordance with ASC 310-30. |
|
(2) Allowance for
Credit Losses includes the Allowance for Loan Loss and Reserve for
Unfunded Commitments. |
|
|
|
|
|
Business
First Bancshares, Inc. |
|
Selected
Financial Information |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Year Ended |
|
|
December 31, |
September 30, |
December 31, |
|
December 31, |
December 31, |
|
(Dollars in thousands, except per share data) |
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
|
2023 |
|
|
2022 |
|
|
|
|
|
|
|
|
|
|
Per Share Data |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
Earnings per Common Share |
$ |
0.58 |
|
$ |
0.76 |
|
$ |
0.68 |
|
|
$ |
2.62 |
|
$ |
2.34 |
|
|
Diluted
Earnings per Common Share |
|
0.57 |
|
|
0.76 |
|
|
0.67 |
|
|
|
2.59 |
|
|
2.32 |
|
|
Dividends
per Common Share |
|
0.14 |
|
|
0.12 |
|
|
0.12 |
|
|
|
0.50 |
|
|
0.48 |
|
|
Book Value
per Common Share |
|
22.58 |
|
|
21.01 |
|
|
20.25 |
|
|
|
22.58 |
|
|
20.25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
Common Shares Outstanding |
|
25,116,688 |
|
|
25,111,548 |
|
|
24,542,120 |
|
|
|
25,079,106 |
|
|
22,633,478 |
|
|
Average
Diluted Common Shares Outstanding |
|
25,333,913 |
|
|
25,288,660 |
|
|
24,757,143 |
|
|
|
25,296,200 |
|
|
22,817,493 |
|
|
End of
Period Common Shares Outstanding |
|
25,351,809 |
|
|
25,344,168 |
|
|
25,110,313 |
|
|
|
25,351,209 |
|
|
25,110,313 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Annualized Performance Ratios |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return to
Common Shareholders on Average Assets (1) |
|
0.88 |
% |
|
1.17 |
% |
|
1.12 |
% |
|
|
1.04 |
% |
|
0.97 |
% |
|
Return to
Common Shareholders on Average Common Equity (1) |
|
10.54 |
% |
|
14.16 |
% |
|
13.56 |
% |
|
|
12.36 |
% |
|
11.59 |
% |
|
Net Interest
Margin (1) |
|
3.50 |
% |
|
3.61 |
% |
|
4.06 |
% |
|
|
3.62 |
% |
|
3.92 |
% |
|
Net Interest
Spread (1) |
|
2.53 |
% |
|
2.68 |
% |
|
3.43 |
% |
|
|
2.72 |
% |
|
3.57 |
% |
|
Efficiency
Ratio (2) |
|
63.36 |
% |
|
59.23 |
% |
|
59.60 |
% |
|
|
61.61 |
% |
|
65.26 |
% |
|
|
|
|
|
|
|
|
|
Total
Quarterly/Year-to-Date Average Assets |
$ |
6,494,861 |
|
$ |
6,474,935 |
|
$ |
5,899,972 |
|
|
$ |
6,341,880 |
|
$ |
5,473,508 |
|
|
Total
Quarterly/Year-to-Date Average Common Equity |
|
544,628 |
|
|
535,211 |
|
|
486,338 |
|
|
|
530,956 |
|
|
456,388 |
|
|
|
|
|
|
|
|
|
|
Other Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and
Employee Benefits |
$ |
22,609 |
|
$ |
22,487 |
|
$ |
22,205 |
|
|
$ |
90,611 |
|
$ |
85,222 |
|
|
Occupancy
and Bank Premises |
|
2,387 |
|
|
2,428 |
|
|
2,285 |
|
|
|
9,518 |
|
|
9,244 |
|
|
Depreciation
and Amortization |
|
1,647 |
|
|
1,690 |
|
|
1,700 |
|
|
|
6,767 |
|
|
6,853 |
|
|
Data
Processing |
|
2,490 |
|
|
2,024 |
|
|
2,201 |
|
|
|
9,034 |
|
|
8,358 |
|
|
FDIC
Assessment Fees |
|
841 |
|
|
779 |
|
|
611 |
|
|
|
3,645 |
|
|
2,854 |
|
|
Legal and
Other Professional Fees |
|
833 |
|
|
766 |
|
|
462 |
|
|
|
3,173 |
|
|
2,359 |
|
|
Advertising
and Promotions |
|
1,052 |
|
|
1,202 |
|
|
1,571 |
|
|
|
4,628 |
|
|
3,949 |
|
|
Utilities
and Communications |
|
700 |
|
|
758 |
|
|
759 |
|
|
|
2,899 |
|
|
3,193 |
|
|
Ad Valorem
Shares Tax |
|
265 |
|
|
965 |
|
|
962 |
|
|
|
3,160 |
|
|
3,400 |
|
|
Directors'
Fees |
|
262 |
|
|
278 |
|
|
270 |
|
|
|
1,079 |
|
|
972 |
|
|
Other Real
Estate Owned Expenses and Write-Downs |
|
504 |
|
|
14 |
|
|
11 |
|
|
|
687 |
|
|
193 |
|
|
Merger and
Conversion-Related Expenses |
|
63 |
|
|
2 |
|
|
138 |
|
|
|
236 |
|
|
4,808 |
|
|
Other |
|
6,061 |
|
|
5,214 |
|
|
5,171 |
|
|
|
21,265 |
|
|
18,004 |
|
|
Total Other Expenses |
$ |
39,714 |
|
$ |
38,607 |
|
$ |
38,346 |
|
|
$ |
156,702 |
|
$ |
149,409 |
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service
Charges on Deposit Accounts |
$ |
2,470 |
|
$ |
2,540 |
|
$ |
2,265 |
|
|
$ |
9,704 |
|
$ |
8,272 |
|
|
Loss on
Sales of Securities |
|
(2,503 |
) |
|
- |
|
|
(2 |
) |
|
|
(2,565 |
) |
|
(48 |
) |
|
Debit Card
and ATM Fee Income |
|
1,793 |
|
|
1,581 |
|
|
1,582 |
|
|
|
6,590 |
|
|
6,407 |
|
|
Bank-Owned
Life Insurance Income |
|
572 |
|
|
604 |
|
|
526 |
|
|
|
2,247 |
|
|
1,931 |
|
|
Gain on
Sales of Loans |
|
546 |
|
|
321 |
|
|
59 |
|
|
|
1,972 |
|
|
574 |
|
|
Mortgage
Origination Income |
|
47 |
|
|
108 |
|
|
105 |
|
|
|
285 |
|
|
532 |
|
|
Fees and
Brokerage Commission |
|
1,710 |
|
|
1,933 |
|
|
1,760 |
|
|
|
7,247 |
|
|
6,964 |
|
|
Gain on
Sales of Other Real Estate Owned |
|
338 |
|
|
85 |
|
|
3 |
|
|
|
646 |
|
|
33 |
|
|
Loss on
Disposal of Other Assets |
|
(1 |
) |
|
(23 |
) |
|
(1 |
) |
|
|
(15 |
) |
|
(717 |
) |
|
Gain on Sale
of Branch |
|
13 |
|
|
932 |
|
|
- |
|
|
|
945 |
|
|
- |
|
|
Gain on
Extinguishment of Debt |
|
- |
|
|
517 |
|
|
- |
|
|
|
1,458 |
|
|
- |
|
|
Swap Fee
Income |
|
964 |
|
|
- |
|
|
- |
|
|
|
964 |
|
|
- |
|
|
Pass-Through
Income (Loss) from Other Investments |
|
(1,028 |
) |
|
(11 |
) |
|
608 |
|
|
|
1,946 |
|
|
1,347 |
|
|
Other |
|
1,492 |
|
|
1,296 |
|
|
1,373 |
|
|
|
5,218 |
|
|
4,015 |
|
|
Total Other Income |
$ |
6,413 |
|
$ |
9,883 |
|
$ |
8,278 |
|
|
$ |
36,642 |
|
$ |
29,310 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Average
outstanding balances are determined utilizing monthly averages and
average yield/rate is calculated utilizing an Actual/365 day count
convention. |
|
(2) Noninterest
expense (excluding provision for loan losses) divided by
noninterest income plus net interest income less gain/loss on sales
of securities. |
|
|
|
|
|
|
|
|
|
Business
First Bancshares, Inc. |
|
Consolidated
Balance Sheets |
|
(Unaudited) |
|
|
|
|
|
|
|
December 31, |
September 30, |
December 31, |
|
(Dollars in thousands) |
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
|
Cash and Due
From Banks |
$ |
226,110 |
|
$ |
191,461 |
|
$ |
152,740 |
|
|
Federal
Funds Sold |
|
151,134 |
|
|
196,616 |
|
|
15,606 |
|
|
Securities
Available for Sale, at Fair Values |
|
879,571 |
|
|
849,704 |
|
|
890,751 |
|
|
Mortgage
Loans Held for Sale |
|
835 |
|
|
652 |
|
|
304 |
|
|
Loans and
Lease Receivable |
|
4,992,785 |
|
|
4,920,273 |
|
|
4,606,176 |
|
|
Allowance
for Loan Losses |
|
(40,414 |
) |
|
(41,129 |
) |
|
(38,178 |
) |
|
Net Loans and Lease Receivable |
|
4,952,371 |
|
|
4,879,144 |
|
|
4,567,998 |
|
|
Premises and
Equipment, Net |
|
69,480 |
|
|
64,674 |
|
|
63,177 |
|
|
Accrued
Interest Receivable |
|
29,916 |
|
|
28,060 |
|
|
25,666 |
|
|
Other Equity
Securities |
|
33,942 |
|
|
32,591 |
|
|
37,467 |
|
|
Other Real
Estate Owned |
|
1,685 |
|
|
1,558 |
|
|
1,372 |
|
|
Cash Value
of Life Insurance |
|
96,478 |
|
|
95,906 |
|
|
91,958 |
|
|
Deferred
Taxes, Net |
|
27,323 |
|
|
34,660 |
|
|
31,194 |
|
|
Goodwill |
|
88,391 |
|
|
88,391 |
|
|
88,543 |
|
|
Core Deposit
and Customer Intangibles |
|
11,895 |
|
|
12,418 |
|
|
14,042 |
|
|
Other
Assets |
|
15,419 |
|
|
12,946 |
|
|
9,642 |
|
|
|
|
|
|
|
Total Assets |
$ |
6,584,550 |
|
$ |
6,488,781 |
|
$ |
5,990,460 |
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
Deposits |
|
|
|
|
Noninterest-Bearing |
$ |
1,299,090 |
|
$ |
1,412,406 |
|
$ |
1,549,381 |
|
|
Interest-Bearing |
|
3,949,700 |
|
|
3,778,317 |
|
|
3,270,964 |
|
|
Total Deposits |
|
5,248,790 |
|
|
5,190,723 |
|
|
4,820,345 |
|
|
|
|
|
|
|
Securities
Sold Under Agreements to Repurchase |
|
18,885 |
|
|
23,245 |
|
|
20,208 |
|
|
Federal
Funds Purchased |
|
- |
|
|
- |
|
|
14,057 |
|
|
Bank Term
Funding Program |
|
300,000 |
|
|
300,000 |
|
|
- |
|
|
Federal Home
Loan Bank Borrowings |
|
211,198 |
|
|
214,184 |
|
|
410,100 |
|
|
Subordinated
Debt |
|
99,990 |
|
|
100,048 |
|
|
110,749 |
|
|
Subordinated
Debt - Trust Preferred Securities |
|
5,000 |
|
|
5,000 |
|
|
5,000 |
|
|
Accrued
Interest Payable |
|
14,841 |
|
|
11,188 |
|
|
2,092 |
|
|
Other
Liabilities |
|
41,587 |
|
|
40,027 |
|
|
27,428 |
|
|
|
|
|
|
|
Total Liabilities |
|
5,940,291 |
|
|
5,884,415 |
|
|
5,409,979 |
|
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Preferred
Stock |
|
71,930 |
|
|
71,930 |
|
|
71,930 |
|
|
Common
Stock |
|
25,352 |
|
|
25,344 |
|
|
25,110 |
|
|
Additional
Paid-In Capital |
|
397,447 |
|
|
396,121 |
|
|
393,690 |
|
|
Retained
Earnings |
|
216,115 |
|
|
205,207 |
|
|
163,955 |
|
|
Accumulated
Other Comprehensive Loss |
|
(66,585 |
) |
|
(94,236 |
) |
|
(74,204 |
) |
|
|
|
|
|
|
Total Shareholders' Equity |
|
644,259 |
|
|
604,366 |
|
|
580,481 |
|
|
|
|
|
|
|
Total Liabilities and Shareholders' Equity |
$ |
6,584,550 |
|
$ |
6,488,781 |
|
$ |
5,990,460 |
|
|
|
|
|
|
|
Business
First Bancshares, Inc. |
|
Consolidated
Statements of Income |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Year Ended |
|
|
December 31, |
September 30, |
December 31, |
|
December 31, |
December 31, |
|
(Dollars in thousands) |
|
2023 |
|
|
2023 |
|
2022 |
|
|
|
2023 |
|
|
2022 |
|
|
|
|
|
|
|
|
|
|
Interest Income: |
|
|
|
|
|
|
|
Interest and Fees on Loans |
$ |
85,761 |
|
$ |
84,575 |
$ |
69,364 |
|
|
$ |
323,327 |
|
$ |
218,032 |
|
|
Interest and Dividends on Securities |
|
5,193 |
|
|
5,053 |
|
4,316 |
|
|
|
20,125 |
|
|
16,503 |
|
|
Interest on Federal Funds Sold and Due From Banks |
|
3,711 |
|
|
3,694 |
|
825 |
|
|
|
9,875 |
|
|
1,579 |
|
|
Total Interest Income |
|
94,665 |
|
|
93,322 |
|
74,505 |
|
|
|
353,327 |
|
|
236,114 |
|
|
|
|
|
|
|
|
|
|
Interest Expense: |
|
|
|
|
|
|
|
Interest on Deposits |
|
34,190 |
|
|
30,110 |
|
13,307 |
|
|
|
106,908 |
|
|
24,413 |
|
|
Interest on Borrowings |
|
6,715 |
|
|
7,918 |
|
5,138 |
|
|
|
31,290 |
|
|
12,124 |
|
|
Total Interest Expense |
|
40,905 |
|
|
38,028 |
|
18,445 |
|
|
|
138,198 |
|
|
36,537 |
|
|
|
|
|
|
|
|
|
|
Net Interest Income |
|
53,760 |
|
|
55,294 |
|
56,060 |
|
|
|
215,129 |
|
|
199,577 |
|
|
|
|
|
|
|
|
|
|
Provision for Credit Losses |
|
119 |
|
|
604 |
|
3,051 |
|
|
|
4,483 |
|
|
10,886 |
|
|
|
|
|
|
|
|
|
|
Net Interest Income After Provision for Credit Losses |
|
53,641 |
|
|
54,690 |
|
53,009 |
|
|
|
210,646 |
|
|
188,691 |
|
|
|
|
|
|
|
|
|
|
Other Income: |
|
|
|
|
|
|
|
Service Charges on Deposit Accounts |
|
2,470 |
|
|
2,540 |
|
2,265 |
|
|
|
9,704 |
|
|
8,272 |
|
|
Loss on Sales of Securities |
|
(2,503 |
) |
|
- |
|
(2 |
) |
|
|
(2,565 |
) |
|
(48 |
) |
|
Gain on Sales of Loans |
|
546 |
|
|
321 |
|
59 |
|
|
|
1,972 |
|
|
574 |
|
|
Other Income |
|
5,900 |
|
|
7,022 |
|
5,956 |
|
|
|
27,531 |
|
|
20,512 |
|
|
Total Other Income |
|
6,413 |
|
|
9,883 |
|
8,278 |
|
|
|
36,642 |
|
|
29,310 |
|
|
|
|
|
|
|
|
|
|
Other Expenses: |
|
|
|
|
|
|
|
Salaries and Employee Benefits |
|
22,609 |
|
|
22,487 |
|
22,205 |
|
|
|
90,611 |
|
|
85,222 |
|
|
Occupancy and Equipment Expense |
|
5,301 |
|
|
5,445 |
|
4,918 |
|
|
|
20,859 |
|
|
19,367 |
|
|
Merger and Conversion-Related Expense |
|
63 |
|
|
2 |
|
138 |
|
|
|
236 |
|
|
4,808 |
|
|
Other Expenses |
|
11,741 |
|
|
10,673 |
|
11,085 |
|
|
|
44,996 |
|
|
40,012 |
|
|
Total Other Expenses |
|
39,714 |
|
|
38,607 |
|
38,346 |
|
|
|
156,702 |
|
|
149,409 |
|
|
|
|
|
|
|
|
|
|
Income Before Income Taxes |
|
20,340 |
|
|
25,966 |
|
22,941 |
|
|
|
90,586 |
|
|
68,592 |
|
|
|
|
|
|
|
|
|
|
Provision for Income Taxes |
|
4,516 |
|
|
5,511 |
|
4,974 |
|
|
|
19,543 |
|
|
14,337 |
|
|
|
|
|
|
|
|
|
|
Net
Income |
|
15,824 |
|
|
20,455 |
|
17,967 |
|
|
|
71,043 |
|
|
54,255 |
|
|
|
|
|
|
|
|
|
|
Preferred Stock Dividends |
|
1,350 |
|
|
1,351 |
|
1,350 |
|
|
|
5,401 |
|
|
1,350 |
|
|
|
|
|
|
|
|
|
|
Net
Income Available to Common Shareholders |
$ |
14,474 |
|
$ |
19,104 |
$ |
16,617 |
|
|
$ |
65,642 |
|
$ |
52,905 |
|
|
|
|
|
|
|
|
|
|
Business
First Bancshares, Inc. |
|
Consolidated
Net Interest Margin |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended |
|
|
December 31, 2023 |
|
September 30, 2023 |
|
December 31, 2022 |
|
|
Average |
|
|
|
Average |
|
|
|
Average |
|
|
|
|
Outstanding |
Interest Earned
/ |
Average |
|
Outstanding |
Interest Earned
/ |
Average |
|
Outstanding |
Interest Earned
/ |
Average |
|
(Dollars in thousands) |
Balance |
Interest Paid |
Yield / Rate |
|
Balance |
Interest Paid |
Yield / Rate |
|
Balance |
Interest Paid |
Yield / Rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-Earning Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Total Loans |
$ |
4,949,954 |
|
$ |
85,761 |
6.87 |
% |
|
$ |
4,906,917 |
|
$ |
84,575 |
6.84 |
% |
|
$ |
4,519,643 |
|
$ |
69,364 |
6.09 |
% |
|
Securities |
|
865,372 |
|
|
5,193 |
2.38 |
% |
|
|
885,792 |
|
|
5,053 |
2.26 |
% |
|
|
901,236 |
|
|
4,316 |
1.90 |
% |
|
Interest-Bearing Deposit in Other Banks |
|
271,004 |
|
|
3,711 |
5.43 |
% |
|
|
278,420 |
|
|
3,694 |
5.26 |
% |
|
|
62,013 |
|
|
825 |
5.28 |
% |
|
Total Interest-Earning Assets |
|
6,086,330 |
|
|
94,665 |
6.17 |
% |
|
|
6,071,129 |
|
|
93,322 |
6.10 |
% |
|
|
5,482,892 |
|
|
74,505 |
5.39 |
% |
|
Allowance
for Loan Losses |
|
(40,996 |
) |
|
|
|
|
(42,120 |
) |
|
|
|
|
(35,951 |
) |
|
|
|
Noninterest-Earning Assets |
|
449,527 |
|
|
|
|
|
445,926 |
|
|
|
|
|
453,031 |
|
|
|
|
Total Assets |
$ |
6,494,861 |
|
$ |
94,665 |
|
|
$ |
6,474,935 |
|
$ |
93,322 |
|
|
$ |
5,899,972 |
|
$ |
74,505 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Shareholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-Bearing Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest-Bearing Deposits |
$ |
3,816,474 |
|
$ |
34,190 |
3.55 |
% |
|
$ |
3,703,682 |
|
$ |
30,110 |
3.23 |
% |
|
$ |
3,157,513 |
|
$ |
13,307 |
1.67 |
% |
|
Subordinated Debt |
|
100,009 |
|
|
1,320 |
5.24 |
% |
|
|
100,400 |
|
|
1,363 |
5.39 |
% |
|
|
110,800 |
|
|
1,363 |
4.88 |
% |
|
Subordinated Debt - Trust Preferred Securities |
|
5,000 |
|
|
113 |
8.97 |
% |
|
|
5,000 |
|
|
111 |
8.81 |
% |
|
|
5,000 |
|
|
85 |
6.74 |
% |
|
Bank Term Funding Program |
|
300,000 |
|
|
3,202 |
4.23 |
% |
|
|
300,000 |
|
|
3,422 |
4.53 |
% |
|
|
- |
|
|
- |
0.00 |
% |
|
Advances from Federal Home Loan Bank (FHLB) |
|
213,280 |
|
|
1,947 |
3.62 |
% |
|
|
284,930 |
|
|
2,875 |
4.00 |
% |
|
|
436,233 |
|
|
3,555 |
3.23 |
% |
|
First National Bankers Bank Line of Credit |
|
- |
|
|
- |
0.00 |
% |
|
|
- |
|
|
- |
0.00 |
% |
|
|
1,667 |
|
|
30 |
7.14 |
% |
|
Other Borrowings |
|
20,772 |
|
|
133 |
2.54 |
% |
|
|
23,542 |
|
|
147 |
2.48 |
% |
|
|
25,815 |
|
|
105 |
1.61 |
% |
|
Total Interest-Bearing Liabilities |
|
4,455,535 |
|
|
40,905 |
3.64 |
% |
|
|
4,417,554 |
|
|
38,028 |
3.42 |
% |
|
|
3,737,028 |
|
|
18,445 |
1.96 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-Bearing Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-Bearing Deposits |
$ |
1,368,452 |
|
|
|
|
$ |
1,399,293 |
|
|
|
|
$ |
1,567,507 |
|
|
|
|
Other Liabilities |
|
54,316 |
|
|
|
|
|
50,947 |
|
|
|
|
|
37,138 |
|
|
|
|
Total Noninterest-Bearing Liabilities |
|
1,422,768 |
|
|
|
|
|
1,450,240 |
|
|
|
|
|
1,604,645 |
|
|
|
|
Shareholders' Equity: |
|
|
|
|
|
|
|
|
|
|
|
|
Common Shareholders' Equity |
|
544,628 |
|
|
|
|
|
535,211 |
|
|
|
|
|
486,338 |
|
|
|
|
Preferred Equity |
|
71,930 |
|
|
|
|
|
71,930 |
|
|
|
|
|
71,961 |
|
|
|
|
Total Shareholders' Equity |
|
616,558 |
|
|
|
|
|
607,141 |
|
|
|
|
|
558,299 |
|
|
|
|
Total Liabilities and Shareholders' Equity |
$ |
6,494,861 |
|
|
|
|
$ |
6,474,935 |
|
|
|
|
$ |
5,899,972 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest
Spread |
|
|
2.53 |
% |
|
|
|
2.68 |
% |
|
|
|
3.43 |
% |
|
Net Interest
Income |
|
$ |
53,760 |
|
|
|
$ |
55,294 |
|
|
|
$ |
56,060 |
|
|
Net Interest
Margin |
|
|
3.50 |
% |
|
|
|
3.61 |
% |
|
|
|
4.06 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Cost
of Funds |
|
|
2.79 |
% |
|
|
|
2.59 |
% |
|
|
|
1.38 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTE: Average
outstanding balances are determined utilizing monthly averages and
average yield/rate is calculated utilizing an Actual/365 day count
convention. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business
First Bancshares, Inc. |
|
Consolidated
Net Interest Margin |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended |
|
|
December 31, 2023 |
|
December 31, 2022 |
|
|
Average |
|
|
|
Average |
|
|
|
|
Outstanding |
Interest Earned
/ |
Average |
|
Outstanding |
Interest Earned
/ |
Average |
|
(Dollars in thousands) |
Balance |
Interest Paid |
Yield / Rate |
|
Balance |
Interest Paid |
Yield / Rate |
|
|
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-Earning Assets: |
|
|
|
|
|
|
|
|
Total Loans |
$ |
4,859,637 |
|
$ |
323,327 |
6.65 |
% |
|
$ |
4,020,436 |
|
$ |
218,032 |
5.42 |
% |
|
Securities |
|
898,771 |
|
|
20,125 |
2.24 |
% |
|
|
956,232 |
|
|
16,503 |
1.73 |
% |
|
Interest-Bearing Deposit in Other Banks |
|
180,997 |
|
|
9,875 |
5.46 |
% |
|
|
115,016 |
|
|
1,579 |
1.37 |
% |
|
Total Interest-Earning Assets |
|
5,939,405 |
|
|
353,327 |
5.95 |
% |
|
|
5,091,684 |
|
|
236,114 |
4.64 |
% |
|
Allowance
for Loan Losses |
|
(41,665 |
) |
|
|
|
|
(32,093 |
) |
|
|
|
Noninterest-Earning Assets |
|
444,140 |
|
|
|
|
|
413,917 |
|
|
|
|
Total Assets |
$ |
6,341,880 |
|
$ |
353,327 |
|
|
$ |
5,473,508 |
|
$ |
236,114 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Shareholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-Bearing Liabilities: |
|
|
|
|
|
|
|
|
Interest-Bearing Deposits |
$ |
3,566,216 |
|
$ |
106,908 |
3.00 |
% |
|
$ |
3,007,882 |
|
$ |
24,413 |
0.81 |
% |
|
Subordinated Debt |
|
105,369 |
|
|
5,323 |
5.05 |
% |
|
|
106,054 |
|
|
5,108 |
4.82 |
% |
|
Subordinated Debt - Trust Preferred Securities |
|
5,000 |
|
|
430 |
8.60 |
% |
|
|
5,000 |
|
|
247 |
4.94 |
% |
|
Bank Term Funding Program |
|
253,706 |
|
|
11,313 |
4.46 |
% |
|
|
- |
|
|
- |
0.00 |
% |
|
Advances from Federal Home Loan Bank (FHLB) |
|
329,726 |
|
|
13,702 |
4.16 |
% |
|
|
271,025 |
|
|
6,479 |
2.39 |
% |
|
First National Bankers Bank Line of Credit |
|
- |
|
|
- |
0.00 |
% |
|
|
2,500 |
|
|
121 |
4.84 |
% |
|
Other Borrowings |
|
21,825 |
|
|
522 |
2.39 |
% |
|
|
23,197 |
|
|
169 |
0.73 |
% |
|
Total Interest-Bearing Liabilities |
|
4,281,842 |
|
|
138,198 |
3.23 |
% |
|
|
3,415,658 |
|
|
36,537 |
1.07 |
% |
|
|
|
|
|
|
|
|
|
|
Noninterest-Bearing Liabilities: |
|
|
|
|
|
|
|
|
Noninterest-Bearing Deposits |
|
1,412,979 |
|
|
|
|
|
1,539,938 |
|
|
|
|
Other Liabilities |
|
44,173 |
|
|
|
|
|
37,533 |
|
|
|
|
Total Noninterest-Bearing Liabilities |
|
1,457,152 |
|
|
|
|
|
1,577,471 |
|
|
|
|
Shareholders' Equity: |
|
|
|
|
|
|
|
|
Common Shareholders' Equity |
|
530,956 |
|
|
|
|
|
456,388 |
|
|
|
|
Preferred Equity |
|
71,930 |
|
|
|
|
|
23,991 |
|
|
|
|
Total Shareholders' Equity |
|
602,886 |
|
|
|
|
|
480,379 |
|
|
|
|
Total Liabilities and Shareholders' Equity |
$ |
6,341,880 |
|
|
|
|
$ |
5,473,508 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest
Spread |
|
|
2.72 |
% |
|
|
|
3.57 |
% |
|
Net Interest
Income |
|
$ |
215,129 |
|
|
|
$ |
199,577 |
|
|
Net Interest
Margin |
|
|
3.62 |
% |
|
|
|
3.92 |
% |
|
|
|
|
|
|
|
|
|
|
Overall Cost
of Funds |
|
|
2.43 |
% |
|
|
|
0.74 |
% |
|
|
|
|
|
|
|
|
|
|
NOTE: Average
outstanding balances are determined utilizing monthly averages and
average yield/rate is calculated utilizing an Actual/365 day count
convention. |
|
|
|
|
|
|
|
|
|
Business
First Bancshares, Inc. |
|
Non-GAAP
Measures |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Year Ended |
|
|
December 31, |
September 30, |
December 31, |
December 31, |
December 31, |
|
(Dollars in thousands, except per share data) |
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
|
2023 |
|
|
2022 |
|
|
|
|
|
|
|
|
|
|
Interest Income: |
|
|
|
|
|
|
|
Interest income |
$ |
94,665 |
|
$ |
93,322 |
|
$ |
74,505 |
|
|
$ |
353,327 |
|
$ |
236,114 |
|
|
Core interest income |
|
94,665 |
|
|
93,322 |
|
|
74,505 |
|
|
|
353,327 |
|
|
236,114 |
|
|
Interest Expense: |
|
|
|
|
|
|
|
Interest expense |
|
40,905 |
|
|
38,028 |
|
|
18,445 |
|
|
|
138,198 |
|
|
36,537 |
|
|
Core interest expense |
|
40,905 |
|
|
38,028 |
|
|
18,445 |
|
|
|
138,198 |
|
|
36,537 |
|
|
Provision for Credit Losses:(b) |
|
|
|
|
|
|
|
Provision for credit losses |
|
119 |
|
|
604 |
|
|
3,051 |
|
|
|
4,483 |
|
|
10,886 |
|
|
Core provision expense |
|
119 |
|
|
604 |
|
|
3,051 |
|
|
|
4,483 |
|
|
10,886 |
|
|
Other Income: |
|
|
|
|
|
|
|
Other income |
|
6,413 |
|
|
9,883 |
|
|
8,278 |
|
|
|
36,642 |
|
|
29,310 |
|
|
Losses on former bank premises and equipment |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
717 |
|
|
Losses on sale of securities |
|
2,503 |
|
|
- |
|
|
2 |
|
|
|
2,565 |
|
|
48 |
|
|
Insurance reimbursement of storm expenditures |
|
- |
|
|
- |
|
|
(422 |
) |
|
|
- |
|
|
(687 |
) |
|
Gain on sale of branch |
|
(13 |
) |
|
(932 |
) |
|
- |
|
|
|
(945 |
) |
|
- |
|
|
Gain on extinguishment of debt |
|
- |
|
|
(517 |
) |
|
- |
|
|
|
(1,458 |
) |
|
- |
|
|
Core other income |
|
8,903 |
|
|
8,434 |
|
|
7,858 |
|
|
|
36,804 |
|
|
29,388 |
|
|
Other Expense: |
|
|
|
|
|
|
|
Other expense |
|
39,714 |
|
|
38,607 |
|
|
38,346 |
|
|
|
156,702 |
|
|
149,409 |
|
|
Acquisition-related expenses (2) |
|
(63 |
) |
|
(2 |
) |
|
(138 |
) |
|
|
(236 |
) |
|
(5,178 |
) |
|
Write-down on former bank premises |
|
(432 |
) |
|
|
|
|
(432 |
) |
|
|
Occupancy and bank premises - storm repair |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
(501 |
) |
|
Core other expense |
|
39,219 |
|
|
38,605 |
|
|
38,208 |
|
|
|
156,034 |
|
|
143,730 |
|
|
Pre-Tax Income:(a) |
|
|
|
|
|
|
|
Pre-tax income |
|
20,340 |
|
|
25,966 |
|
|
22,941 |
|
|
|
90,586 |
|
|
68,592 |
|
|
Losses on former bank premises and equipment |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
717 |
|
|
Losses on sale of securities |
|
2,503 |
|
|
- |
|
|
2 |
|
|
|
2,565 |
|
|
48 |
|
|
Insurance reimbursement of storm expenditures |
|
- |
|
|
- |
|
|
(422 |
) |
|
|
- |
|
|
(687 |
) |
|
Gain on sale of branch |
|
(13 |
) |
|
(932 |
) |
|
- |
|
|
|
(945 |
) |
|
- |
|
|
Gain on extinguishment of debt |
|
- |
|
|
(517 |
) |
|
- |
|
|
|
(1,458 |
) |
|
- |
|
|
Acquisition-related expenses (2) |
|
63 |
|
|
2 |
|
|
138 |
|
|
|
236 |
|
|
5,178 |
|
|
Write-down on former bank premises |
|
432 |
|
|
|
|
|
432 |
|
|
|
Occupancy and bank premises - storm repair |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
501 |
|
|
Core pre-tax income |
|
23,325 |
|
|
24,519 |
|
|
22,659 |
|
|
|
91,416 |
|
|
74,349 |
|
|
Provision for Income Taxes:(1) |
|
|
|
|
|
|
|
Provision for income taxes |
|
4,516 |
|
|
5,511 |
|
|
4,974 |
|
|
|
19,543 |
|
|
14,337 |
|
|
Tax on losses on former bank premises and equipment |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
151 |
|
|
Tax on losses on sale of securities |
|
529 |
|
|
- |
|
|
- |
|
|
|
542 |
|
|
10 |
|
|
Tax on insurance reimbursement of storm expenditures |
|
- |
|
|
- |
|
|
(89 |
) |
|
|
- |
|
|
(144 |
) |
|
Tax on gain on sale of branch |
|
(3 |
) |
|
(197 |
) |
|
- |
|
|
|
(200 |
) |
|
- |
|
|
Tax on gain on extinguishment of debt |
|
- |
|
|
(109 |
) |
|
- |
|
|
|
(308 |
) |
|
- |
|
|
Tax on acquisition-related expenses (2) |
|
1 |
|
|
- |
|
|
29 |
|
|
|
21 |
|
|
942 |
|
|
Tax on write-down on former bank premises |
|
91 |
|
|
|
|
|
91 |
|
|
|
Tax on occupancy and bank premises - storm repair |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
106 |
|
|
Core provision for income taxes |
|
5,134 |
|
|
5,205 |
|
|
4,914 |
|
|
|
19,689 |
|
|
15,402 |
|
|
Preferred Dividends: |
|
|
|
|
|
|
|
Preferred dividends |
|
1,350 |
|
|
1,351 |
|
|
1,350 |
|
|
|
5,401 |
|
|
1,350 |
|
|
Core preferred dividends |
|
1,350 |
|
|
1,351 |
|
|
1,350 |
|
|
|
5,401 |
|
|
1,350 |
|
|
Net
Income Available to Common Shareholders: |
|
|
|
|
|
|
|
Net income available to common shareholders |
|
14,474 |
|
|
19,104 |
|
|
16,617 |
|
|
|
65,642 |
|
|
52,905 |
|
|
Losses on former bank premises and equipment, net of tax |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
566 |
|
|
Losses on sale of securities, net of tax |
|
1,974 |
|
|
- |
|
|
2 |
|
|
|
2,023 |
|
|
38 |
|
|
Insurance reimbursement of storm expenditures, net of tax |
|
- |
|
|
- |
|
|
(333 |
) |
|
|
- |
|
|
(543 |
) |
|
Gain on sale of branch, net of tax |
|
(10 |
) |
|
(735 |
) |
|
- |
|
|
|
(745 |
) |
|
- |
|
|
Gain on extinguishment of debt, net of tax |
|
- |
|
|
(408 |
) |
|
- |
|
|
|
(1,150 |
) |
|
- |
|
|
Acquisition-related expenses (2), net of tax |
|
62 |
|
|
2 |
|
|
109 |
|
|
|
215 |
|
|
4,236 |
|
|
Write-down on former bank premises, net of tax |
|
341 |
|
|
|
|
|
341 |
|
|
|
Occupancy and bank premises - storm repair, net of tax |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
395 |
|
|
Core net income available to common shareholders |
$ |
16,841 |
|
$ |
17,963 |
|
$ |
16,395 |
|
|
$ |
66,326 |
|
$ |
57,597 |
|
|
|
|
|
|
|
|
|
|
Pre-tax, pre-provision earnings available to common shareholders
(a+b) |
$ |
20,459 |
|
$ |
26,570 |
|
$ |
25,992 |
|
|
$ |
95,069 |
|
$ |
79,478 |
|
|
Losses on former bank premises and equipment |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
717 |
|
|
Loss on sale of securities |
|
2,503 |
|
|
- |
|
|
2 |
|
|
|
2,565 |
|
|
48 |
|
|
Insurance reimbursement of storm expenditures |
|
- |
|
|
- |
|
|
(422 |
) |
|
|
- |
|
|
(687 |
) |
|
Gain on sale of branch |
|
(13 |
) |
|
(932 |
) |
|
- |
|
|
|
(945 |
) |
|
- |
|
|
Gain on extinguishment of debt |
|
- |
|
|
(517 |
) |
|
- |
|
|
|
(1,458 |
) |
|
- |
|
|
Acquisition-related expenses (2) |
|
63 |
|
|
2 |
|
|
138 |
|
|
|
236 |
|
|
5,178 |
|
|
Write-down on former premises |
|
432 |
|
|
|
|
|
432 |
|
|
|
Occupancy and bank premises - storm repair |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
501 |
|
|
Core pre-tax, pre-provision earnings |
$ |
23,444 |
|
$ |
25,123 |
|
$ |
25,710 |
|
|
$ |
95,899 |
|
$ |
85,235 |
|
|
|
|
|
|
|
|
|
|
Average Diluted Common Shares Outstanding |
|
25,333,913 |
|
|
25,288,660 |
|
|
24,757,143 |
|
|
|
25,296,200 |
|
|
22,817,493 |
|
|
|
|
|
|
|
|
|
|
Diluted Earnings Per Common Share: |
|
|
|
|
|
|
|
Diluted earnings per common share |
$ |
0.57 |
|
$ |
0.76 |
|
$ |
0.67 |
|
|
$ |
2.59 |
|
$ |
2.32 |
|
|
Losses on former bank premises and equipment, net of tax |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
0.02 |
|
|
Loss on sale of securities, net of tax |
|
0.08 |
|
|
- |
|
|
- |
|
|
|
0.08 |
|
|
- |
|
|
Insurance reimbursement of storm expenditures, net of tax |
|
- |
|
|
- |
|
|
(0.01 |
) |
|
|
- |
|
|
(0.02 |
) |
|
Gain on sale of branch, net of tax |
|
(0.00 |
) |
|
(0.03 |
) |
|
- |
|
|
|
(0.03 |
) |
|
- |
|
|
Gain on extinguishment of debt, net of tax |
|
- |
|
|
(0.02 |
) |
|
- |
|
|
|
(0.04 |
) |
|
- |
|
|
Acquisition-related expenses (2), net of tax |
|
0.00 |
|
|
- |
|
|
- |
|
|
|
0.01 |
|
|
0.18 |
|
|
Write-down on former premises, net of tax |
|
0.01 |
|
|
|
|
|
0.01 |
|
|
|
Occupancy and bank premises -storm repair, net of tax |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
0.02 |
|
|
Core diluted earnings per common share |
$ |
0.66 |
|
$ |
0.71 |
|
$ |
0.66 |
|
|
$ |
2.62 |
|
$ |
2.52 |
|
|
|
|
|
|
|
|
|
|
Pre-tax, pre-provision profit diluted earnings per common
share |
$ |
0.81 |
|
$ |
1.05 |
|
$ |
1.05 |
|
|
$ |
3.76 |
|
$ |
3.48 |
|
|
Losses on former bank premises and equipment |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
0.03 |
|
|
Loss on sale of securities |
|
0.10 |
|
|
- |
|
|
- |
|
|
|
0.10 |
|
|
- |
|
|
Insurance reimbursement of storm expenditures |
|
- |
|
|
- |
|
|
(0.02 |
) |
|
|
- |
|
|
(0.03 |
) |
|
Gain on sale of branch |
|
(0.00 |
) |
|
(0.04 |
) |
|
- |
|
|
|
(0.04 |
) |
|
- |
|
|
Gain on extinguishment of debt |
|
- |
|
|
(0.02 |
) |
|
- |
|
|
|
(0.06 |
) |
|
- |
|
|
Acquisition-related expenses (2) |
|
0.00 |
|
|
- |
|
|
0.01 |
|
|
|
0.01 |
|
|
0.23 |
|
|
Write-down on former premises |
|
0.02 |
|
|
|
|
|
0.02 |
|
|
|
Occupancy and bank premises - storm repair |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
0.03 |
|
|
Core pre-tax, pre-provision diluted earnings per common share |
$ |
0.93 |
|
$ |
0.99 |
|
$ |
1.04 |
|
|
$ |
3.79 |
|
$ |
3.74 |
|
|
|
|
|
|
|
|
|
|
(1) Tax rates,
exclusive of certain nondeductible merger-related expenses and
goodwill, utilized were 21.129% for 2023 and 2022. These rates
approximated the marginal tax rates. |
|
(2) Includes merger
and conversion-related expenses and salary and employee
benefits. |
|
|
|
|
|
|
|
|
|
Business
First Bancshares, Inc. |
|
Non-GAAP
Measures |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
September 30, |
December 31, |
|
(Dollars in thousands, except per share data) |
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
|
|
|
|
|
Total Shareholders' (Common) Equity: |
|
|
|
|
Total shareholders' equity |
$ |
644,259 |
|
$ |
604,366 |
|
$ |
580,481 |
|
|
Preferred stock |
|
(71,930 |
) |
|
(71,930 |
) |
|
(71,930 |
) |
|
Total common shareholders' equity |
|
572,329 |
|
|
532,436 |
|
|
508,551 |
|
|
Goodwill |
|
(88,391 |
) |
|
(88,391 |
) |
|
(88,543 |
) |
|
Core deposit and customer intangible |
|
(11,895 |
) |
|
(12,418 |
) |
|
(14,042 |
) |
|
Total tangible common equity |
$ |
472,043 |
|
$ |
431,627 |
|
$ |
405,966 |
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets: |
|
|
|
|
Total assets |
$ |
6,584,550 |
|
$ |
6,488,781 |
|
$ |
5,990,460 |
|
|
Goodwill |
|
(88,391 |
) |
|
(88,391 |
) |
|
(88,543 |
) |
|
Core deposit and customer intangible |
|
(11,895 |
) |
|
(12,418 |
) |
|
(14,042 |
) |
|
Total tangible assets |
$ |
6,484,264 |
|
$ |
6,387,972 |
|
$ |
5,887,875 |
|
|
|
|
|
|
|
Common
shares outstanding |
|
25,351,809 |
|
|
25,344,168 |
|
|
25,110,313 |
|
|
|
|
|
|
|
Book value
per common share |
$ |
22.58 |
|
$ |
21.01 |
|
$ |
20.25 |
|
|
Tangible book value per common share |
$ |
18.62 |
|
$ |
17.03 |
|
$ |
16.17 |
|
|
Common
equity to total assets |
|
8.69 |
% |
|
8.21 |
% |
|
8.49 |
% |
|
Tangible common equity to tangible assets |
|
7.28 |
% |
|
6.76 |
% |
|
6.89 |
% |
|
|
|
|
|
|
Business
First Bancshares, Inc. |
Non-GAAP
Measures |
(Unaudited) |
|
|
|
|
|
|
|
|
Three Months Ended |
|
Year Ended |
|
December 31, |
September 30, |
December 31, |
|
December 31, |
December 31, |
(Dollars in thousands, except per share data) |
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
|
2023 |
|
|
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Quarterly Average Assets |
$ |
6,494,861 |
|
$ |
6,474,935 |
|
$ |
5,899,972 |
|
|
$ |
6,341,880 |
|
$ |
5,473,508 |
|
Total Quarterly Average Common Equity |
$ |
544,628 |
|
$ |
535,211 |
|
$ |
486,338 |
|
|
$ |
530,956 |
|
$ |
456,388 |
|
|
|
|
|
|
|
|
Net
Income Available to Common Shareholders: |
|
|
|
|
|
|
Net income available to common shareholders |
$ |
14,474 |
|
$ |
19,104 |
|
$ |
16,617 |
|
|
$ |
65,642 |
|
$ |
52,905 |
|
Losses on former bank premises and equipment, net of tax |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
566 |
|
Losses on sale of securities, net of tax |
|
1,974 |
|
|
- |
|
|
2 |
|
|
|
2,023 |
|
|
38 |
|
Insurance reimbursement of storm expenditures, net of tax |
|
- |
|
|
- |
|
|
(333 |
) |
|
|
- |
|
|
(543 |
) |
Gain on sale of branch, net of tax |
|
(10 |
) |
|
(735 |
) |
|
- |
|
|
|
(745 |
) |
|
- |
|
Gain on extinguishment of debt, net of tax |
|
- |
|
|
(408 |
) |
|
- |
|
|
|
(1,150 |
) |
|
- |
|
Acquisition-related expenses, net of tax |
|
62 |
|
|
2 |
|
|
109 |
|
|
|
215 |
|
|
4,236 |
|
Write-down on former bank premises, net of tax |
|
341 |
|
|
- |
|
|
- |
|
|
|
341 |
|
|
- |
|
Occupancy and bank premises - storm repair, net of tax |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
395 |
|
Core net income available to common shareholders |
$ |
16,841 |
|
$ |
17,963 |
|
$ |
16,395 |
|
|
$ |
66,326 |
|
$ |
57,597 |
|
|
|
|
|
|
|
|
Return to common shareholders on average assets (annualized)
(2) |
|
0.88 |
% |
|
1.17 |
% |
|
1.12 |
% |
|
|
1.04 |
% |
|
0.97 |
% |
Core return on average assets (annualized) (2) |
|
1.03 |
% |
|
1.10 |
% |
|
1.10 |
% |
|
|
1.05 |
% |
|
1.05 |
% |
Return to common shareholders on average common equity (annualized)
(2) |
|
10.54 |
% |
|
14.16 |
% |
|
13.56 |
% |
|
|
12.36 |
% |
|
11.59 |
% |
Core return on average common equity (annualized) (2) |
|
12.27 |
% |
|
13.32 |
% |
|
13.37 |
% |
|
|
12.49 |
% |
|
12.62 |
% |
|
|
|
|
|
|
|
Interest Income: |
|
|
|
|
|
|
Interest income |
$ |
94,665 |
|
$ |
93,322 |
|
$ |
74,505 |
|
|
$ |
353,327 |
|
$ |
236,114 |
|
Core interest income |
|
94,665 |
|
|
93,322 |
|
|
74,505 |
|
|
|
353,327 |
|
|
236,114 |
|
Interest Expense: |
|
|
|
|
|
|
Interest expense |
|
40,905 |
|
|
38,028 |
|
|
18,445 |
|
|
|
138,198 |
|
|
36,537 |
|
Core interest expense |
|
40,905 |
|
|
38,028 |
|
|
18,445 |
|
|
|
138,198 |
|
|
36,537 |
|
Other Income: |
|
|
|
|
|
|
Other income |
|
6,413 |
|
|
9,883 |
|
|
8,278 |
|
|
|
36,642 |
|
|
29,310 |
|
Losses on former bank premises and equipment |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
717 |
|
Loss on sale of securities |
|
2,503 |
|
|
- |
|
|
2 |
|
|
|
2,565 |
|
|
48 |
|
Insurance reimbursement of storm expenditures |
|
- |
|
|
- |
|
|
(422 |
) |
|
|
- |
|
|
(687 |
) |
Gain on sale of branch |
|
(13 |
) |
|
(932 |
) |
|
- |
|
|
|
(945 |
) |
|
- |
|
Gain on extinguishment of debt |
|
- |
|
|
(517 |
) |
|
- |
|
|
|
(1,458 |
) |
|
- |
|
Core other income |
|
8,903 |
|
|
8,434 |
|
|
7,858 |
|
|
|
36,804 |
|
|
29,388 |
|
Other Expense: |
|
|
|
|
|
|
Other expense |
|
39,714 |
|
|
38,607 |
|
|
38,346 |
|
|
|
156,702 |
|
|
149,409 |
|
Acquisition-related expenses |
|
(63 |
) |
|
(2 |
) |
|
(138 |
) |
|
|
(236 |
) |
|
(5,178 |
) |
Write-down on former bank premises |
|
(432 |
) |
|
- |
|
|
- |
|
|
|
(432 |
) |
|
- |
|
Occupancy and bank premises - storm repair |
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
(501 |
) |
Core other expense |
$ |
39,219 |
|
$ |
38,605 |
|
$ |
38,208 |
|
|
$ |
156,034 |
|
$ |
143,730 |
|
|
|
|
|
|
|
|
Efficiency Ratio: |
|
|
|
|
|
|
Other expense (a) |
$ |
39,714 |
|
$ |
38,607 |
|
$ |
38,346 |
|
|
$ |
156,702 |
|
$ |
149,409 |
|
Core other expense (c) |
$ |
39,219 |
|
$ |
38,605 |
|
$ |
38,208 |
|
|
$ |
156,034 |
|
$ |
143,730 |
|
Net interest and other income (1) (b) |
$ |
62,676 |
|
$ |
65,177 |
|
$ |
64,340 |
|
|
$ |
254,336 |
|
$ |
228,935 |
|
Core net interest and other income (1) (d) |
$ |
62,663 |
|
$ |
63,728 |
|
$ |
63,918 |
|
|
$ |
251,933 |
|
$ |
228,965 |
|
Efficiency ratio (a/b) |
|
63.36 |
% |
|
59.23 |
% |
|
59.60 |
% |
|
|
61.61 |
% |
|
65.26 |
% |
Core efficiency ratio (c/d) |
|
62.59 |
% |
|
60.58 |
% |
|
59.78 |
% |
|
|
61.93 |
% |
|
62.77 |
% |
|
|
|
|
|
|
|
Total Average Interest-Earnings Assets |
$ |
6,086,330 |
|
$ |
6,071,129 |
|
$ |
5,482,892 |
|
|
$ |
5,939,405 |
|
$ |
5,091,684 |
|
|
|
|
|
|
|
|
Net
Interest Income: |
|
|
|
|
|
|
Net interest income |
$ |
53,760 |
|
$ |
55,294 |
|
$ |
56,060 |
|
|
$ |
215,129 |
|
$ |
199,577 |
|
Loan discount accretion |
|
(1,921 |
) |
|
(2,419 |
) |
|
(4,212 |
) |
|
|
(9,311 |
) |
|
(9,432 |
) |
Net interest income excluding loan discount accretion |
$ |
51,839 |
|
$ |
52,875 |
|
$ |
51,848 |
|
|
$ |
205,818 |
|
$ |
190,145 |
|
|
|
|
|
|
|
|
Net interest margin (2) |
|
3.50 |
% |
|
3.61 |
% |
|
4.06 |
% |
|
|
3.62 |
% |
|
3.92 |
% |
Net interest margin excluding loan discount accretion (2) |
|
3.38 |
% |
|
3.46 |
% |
|
3.75 |
% |
|
|
3.47 |
% |
|
3.73 |
% |
Net interest spread (2) |
|
2.53 |
% |
|
2.68 |
% |
|
3.43 |
% |
|
|
2.72 |
% |
|
3.57 |
% |
Net interest spread excluding loan discount accretion (2) |
|
2.40 |
% |
|
2.53 |
% |
|
3.13 |
% |
|
|
2.56 |
% |
|
3.38 |
% |
|
|
|
|
|
|
|
(1) Excludes
gains/losses on sales of securities. |
|
|
|
|
|
|
(2)
Calculated utilizing an Actual/365 day count convention. |
|
|
|
|
|
|
|
|
|
|
|
|
|
Business First Bancshares (NASDAQ:BFST)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Business First Bancshares (NASDAQ:BFST)
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