Business
Business First Bancshares, Inc., Announces Financial Results for Fiscal Year 2024 and Q4 2024
BATON ROUGE, La., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Business First Bancshares, Inc. (NASDAQ: BFST) (Business First), parent company of b1BANK, today announced
About this update from Business First Bancshares, Inc.
[{"type":"text","content":"BATON ROUGE, La., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Business First Bancshares, Inc. (NASDAQ: BFST) (Business First), parent company of b1BANK, today announced its unaudited results for the quarter ended December 31, 2024. Business First reported net income available to common shareholders of $15.1 million or $0.51 per diluted common share, decreases of $1.4 million and $0.14, respectively, compared to the linked quarter ended September 30, 2024. On a non-GAAP basis, core net income for the quarter ended December 31, 2024, which excludes certain income and expenses, was $19.5 million or $0.66 per diluted common share, an increase of $2.2 million and decrease of $0.02, from the linked quarter. The quarter ended December 31, 2024, included the consummation of the Oakwood Bancshares, Inc. (Oakwood) transaction. For the year ended December 31, 2024, Business First reported net income available to common stockholders of $59.7 million or $2.26 per diluted common share, decreases of $5.9 million and $0.34, respectively, from the prior year ended December 31, 2023. On a non-GAAP basis, core net income for the year ended December 31, 2024, which excludes certain income and expenses, was $65.7 million or $2.49 per diluted common share, decreases of $0.6 million and $0.13, respectively, from prior year ended December 31, 2023. \"I’m pleased to report the fourth quarter of 2024 positively reflected our year as a whole,” said Jude Melville, chairman, president and CEO of Business First Bancshares. “Solid fundamental performance led to productive growth, increasing diversification of revenue sources, healthy asset quality, successful incorporation of new team members, and expansion of our client base, all of which point to an exciting 2025 in which we anticipate not only meeting but growing stakeholder expectations.\" On Thursday, January 23, 2025, 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 of common stock. The preferred and common dividends will be paid on February 28, 2025, or as soon thereafter as practicable, to the shareholders ...