Business First Bancshares, Inc. · NASDAQ:BFST
Business First Bancshares — Q1 2026 Earnings Presentation
32 slides from Business First Bancshares's earnings presentation, Apr 27, 2026
Slide 1: Q1 2026 Results
Q1 2026 Results
Slide 2: Table of Contents
TABLE OF CONTENTS Legal Disclosures 3 Guiding Principles & Social Impact 4 Business First Bancshares, Inc. Overview 5 – 11 Liquidity and Deposits 12 Securities Portfolio 13 Noninterest Revenue Opportunities 14 Financial Results Q1 2026 Financial Highlights 16 Credit Metrics Analysis 17 Yield/Rate An
Slide 3: Legal Disclosures
LEGAL DISCLOSURES Special Note Concerning Forward-Looking Statements This investor presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act made pursuant to the safe harbor provisions of the Private Securities Liti
Slide 4: Guiding Principles & Social Impact
GUIDING PRINCIPLES & SOCIAL IMPACT b1BANK’s five guiding principles reflect our core beliefs and values, which drive all decisions irrespective of our goals, strategies, or external factors. These tenets are more than guides for making business decisions; they are the core of our culture, driving ou
Slide 5: Business First Bancshares, Inc. Overview
BUSINESS FIRST BANCSHARES, INC. OVERVIEW FRANCHISE HIGHLIGHTS BUSINESS OVERVIEW & CORPORATE ACTIONS • Diversified full-service commercial-focused bank headquartered in • Operations in Louisiana, Texas and Mississippi including: 46 legacy Baton Rouge, Louisiana, focused on serving clients with the Lo
Slide 6: Executive Management
EXECUTIVE MANAGEMENT Jude Melville Chairman, President and CEO Gregory Robertson Jerry Vascocu Philip Jordan EVP, Chief Financial Officer President, b1BANK EVP, Chief Banking Officer Keith Mansfield Saundra Strong Kathryn Manning EVP, Chief Operations Officer EVP, General Counsel EVP, Chief Risk Off
Slide 7: Balanced Footprint
BALANCED FOOTPRINT Dallas Fort Worth Region North Louisiana Region # of Banking Centers: 11 # of Banking Centers(1): 18 # of LPOs: 1 Total Loans: $1,676.3 Total Loans: $1,896.3 Total Deposits: $1,787.8 Total Deposits: $948.1 Deposits / Banking Center(2): $105.2 Deposits / Banking Center: $86.2 Great
Slide 8: Diversified Growth
DIVERSIFIED GROWTH BFST Standalone Assets $8,907 Cumulative Assets Acquired $8,215 $7,857 $6,585 $4,065 $5,990 $3,291 $3,291 $4,726 $2,429 $4,160 $2,429 $1,883 $1,883 $2,095 $2,274 $4,566 $4,924 $4,842 $621 $4,156 $621 $3,562 $2,843 $2,277 $1,473 $1,652 2018 2019 2020 2021 2022 2023 2024 2025 Q1'26
Slide 9: Tangible Book Value Per Share (TBVPS) Growth
TANGIBLE BOOK VALUE PER SHARE (TBVPS) GROWTH TBVPS – Trailing 8 Quarters TBVPS – Since Public Listing on Nasdaq $23.36 $23.18 $23.36 $22.63 $21.61 $20.60 $20.84 $19.92 $19.92 $19.22 $18.62 $17.31 $17.71 $16.80 $16.17 $15.34 $19.68 $21.47 $19.88 $21.24 $20.25 $22.58 $24.62 $27.95 $23.24 $24.59 $24.62
Slide 10: Earnings Per Share (EPS) Growth
EARNINGS PER SHARE (EPS) GROWTH Diluted EPS – Trailing 8 Quarters Diluted EPS – Since Public Listing on Nasdaq $2.83 $0.79 $2.61 $2.62 $0.72 $0.73 $2.52 $2.49 $0.68 $0.66 $0.66 $0.64 $0.65 $2.05 $1.80 $1.45 $0.62 $0.65 $0.51 $0.65 $0.70 $0.73 $0.71 $0.68 $1.22 $1.74 $1.64 $2.53 $2.32 $2.59 $2.26 $2.
Slide 11: Consolidated Capital Growth
CONSOLIDATED CAPITAL GROWTH CET1 & TRBC – Trailing 8 Quarters CET1 & TRBC – Since Public Listing on Nasdaq 13.91% 13.03% 13.07% 13.22% 13.08% 13.30% 12.88% 12.99% 12.75% 12.93% 12.75% 12.85% 12.75% 12.93% 12.28% 11.83% 11.94% 11.43% 10.63% 10.06% 9.94% 10.21% 9.94% 9.78% 9.88% 9.29% 9.42% 9.44% 9.15
Slide 12: Liquidity and Deposits
LIQUIDITY AND DEPOSITS Liquidity Sources • Continue to carry higher cash balances to support liquidity, with 7.24% of total assets at 3/31/2026. FHLB Borrowings Capacity $ 1,495 • Remain focused on core deposits, which represent over FRB Discount Window $ 923 88% of total deposits. Unencumbered Secu
Slide 13: Securities Portfolio
SECURITIES PORTFOLIO AFS Securities Portfolio • Portfolio serves as a source of on-balance sheet liquidity and provides interest income stability during times of declining rates. • With the relatively high-rate environment, the Bank is reinvesting portfolio cash flows and taking opportunities to mod
Slide 14: Noninterest Revenue Opportunities – b1Financial Services
NONINTEREST REVENUE OPPORTUNITIES – b1FINANCIAL SERVICES FINANCIAL INSTITUTIONS GROUP (FIG) Financial Services Group Revenue Growth • September 2020 – b1BANK announced the formation of its Financial Institutions $18.6 $ in millions Group (FIG) • FIG currently maintains $525 million in total loan par
Slide 15: Financial Results
e BUSINESS FIRST Financial Results
Slide 16: 1st Quarter 2026 – Financial Results
1st QUARTER 2026 – FINANCIAL RESULTS Q1 2026 Results Q1 2026 Highlights Earnings & Profitability Q1 2026 Q4 2025 Q1 2025 Core Net Income (1) Core Diluted EPS (1) Net Income Available to Common Shareholders $ 22,214 $ 21,009 $ 19,193 Pre-Tax, Pre-Provision Earnings (1) 31,774 30,680 28,631 $24.0 mill
Slide 17: Credit Metrics Analysis
CREDIT METRICS ANALYSIS Past Due Loans(1) Nonperforming Loans(2) ACL & FV Discount Net Charge-offs Note: Dollars in millions. (1) Past due loans include balances past due 30 days or more and not on a nonaccrual status. (2) Nonperforming loans include loan balances past due 90 days or more as well as
Slide 18: Yield / Rate Analysis – Long Term Margin Stability
YIELD / RATE ANALYSIS – LONG TERM MARGIN STABILITY 8.00% 7.00% 6.61% 6.00% 5.00% 4.00% 3.75% 3.65% 3.60% 3.00% 2.45% 2.34% 2.00% 1.00% 0.00% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2021 2022 2023 2024 2025 2026 (1) NIM NIM ex. Accretion Total Funding Cost Total Cost of Deposit
Slide 19: Loan and Deposit Portfolio Overview
LOAN AND DEPOSIT PORTFOLIO OVERVIEW Loan Portfolio HFI (as of 3/31/26) Deposit Portfolio (as of 3/31/26) 6.3% 21.1% 27.9% 13.8% 61.5% of total loans HFI are floating / 38.5% variable rate or $6.66 $7.46 fixed rate billion billion 15.2% maturing/repricing within the next 22.5% 41.0% 12-months 11.1% 2
Slide 20: Loan Portfolio
e BUSINESS FIRST Loan Portfolio
Slide 21: Loan Composition
LOAN COMPOSITION Loan Portfolio Breakdown Q1 2026 Highlights Total Loans HFI $5,981 $6,048 $6,021 $6,189 $6,684 Q1’26 Avg. Increase (Decrease) by Loan Type Yield(1) QoQ Change ($0.5) +$66.7 ($26.6) +$168.4 +$494.8 ($ in millions) QoQ YoY Commercial $ 22 $ 81 $686 6.93% CRE - Non-Owner Occupied $ 160
Slide 22: Loan Portfolio Snapshot
LOAN PORTFOLIO SNAPSHOT Total Loan Portfolio Composition Top 5 Exposure Categories Outstanding Unfunded Average NPLs % of Balance Commitment Loan Size Total Loans Commercial $1.89 billion $1 billion $429 thousand 1.85% CRE - Owner-Occupied $1.18 billion $51 million $913 thousand 0.80% $6.68 CRE - No
Slide 23: Loan Composition: Commercial
LOAN COMPOSITION: COMMERCIAL Commercial Loans by Collateral Commercial Loans by Market Agricultural Houston 6.6% Southwest 6.0% Cash/Securities Louisiana 8.5% 9.0% AR & Inventory Dallas Fort 31.5% Worth Titled Greater New 35.8% Collateral Orleans 11.1% 10.6% Capital 8.7% Bayou Equipment 6.0% All Oth
Slide 24: Loan Composition: Commercial Real Estate
LOAN COMPOSITION: COMMERCIAL REAL ESTATE C&D Composition CRE Composition - Owner Occupied CRE Composition - Income Producing C&D Highlights 1.8% • $685.8 million total portfolio 8.1% 10.6% 25.0% 10.5% 17.4% 14.6% • $33.4 million largest relationship(2) 23.4% 10.1% • $629 thousand average loan size $
Slide 25: Appendix
e BUSINESS FIRST APPENDIX
Slide 26: Historical Financial Summary
HISTORICAL FINANCIAL SUMMARY For the Year Ended December 31, YTD 2021 2022 2023 2024 2025 2026 Balance Sheet & Capital Total Assets $4,726,378 $5,990,460 $6,584,550 $7,857,090 $8,214,740 $8,906,808 Gross Loans (Excl. HFS) 3,189,608 4,606,176 4,992,785 5,981,399 6,189,490 6,684,263 Deposits 4,077,283
Slide 27: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Core Net Income, ROAA, NIM excluding loan discount accretion For the Year Ended December 31, Fiscal Quarter 2021 2022 2023 2024 2025 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Core Net Income: Net Income $ 52,136 $ 52,905 $ 65,642 $ 59,706 $ 82,460 $ 19,193 $ 20,753
Slide 28: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Core Net Income and ROAA - Trailing Twelve Months Fiscal Quarter TTM Q2'25 Q3'25 Q4'25 Q1'26 Q1'26 Core Net Income: Net Income $ 20,753 $ 21,505 $ 21,009 $ 22,214 $ 85,481 (1) Adjustments : (Gain)/Loss Former Bank Premises & Equipment $ - $ - $ 785 $ (22
Slide 29: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TCE/TA, TBVPS Fiscal Quarter Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Tangible Common Equity / Tangible Assets: Tangible Common Equity Total Shareholders' Equity $ 826,312 $ 848,440 $ 878,440 $ 896,883 $ 991,176 Preferred Stock (71,930) (71,930) (71,930) (71,930) (
Slide 30: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TCE/TA, TBVPS For the Year Ended December 31, 2021 2022 2023 2024 2025 Tangible Common Equity / Tangible Assets: Tangible Common Equity Total Shareholders' Equity $ 433,368 $ 580,481 $ 644,259 $ 799,466 $ 896,883 Preferred Stock - (71,930) (71,930) (71,9
Slide 31: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Core Efficiency Ratio Fiscal Quarter Fiscal Year Ended TTM Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 12/31/2024 12/31/2025 Q1'26 Core Efficiency Ratio: Noninterest Expense $ 50,578 $ 51,206 $ 48,882 $ 52,412 $ 57,471 $ 177,652 $ 203,078 $ 209,971 Core Adjustments $
Slide 32: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Core Pre-tax, Pre-provision Earnings Fiscal Quarter Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Core pre-tax, pre-provision earnings: Pre-tax, pre-provision earnings $ 28,631 $ 30,251 $ 32,065 $ 30,680 $ 31,774 Adjustments: (Gain)/Loss Former Bank Premises & Equipment
Business First Bancshares — Q1 2026 Earnings Presentation on 6ix