Business First Bancshares, Inc. (BFST) Financial Statements
Industry: State Commercial Banks
In fiscal 2025, Business First Bancshares reported revenue of $324.7M, up 19.6% from $271.6M the year before. Net income was $87.9M (a 27.1% net margin), or $2.79 per diluted share. Net interest income was $273.2M, and the efficiency ratio (noninterest expense / revenue) was 62.5%. Operating activities generated $92.1M of cash, leaving $92.0M of free cash flow. At fiscal year end, Business First Bancshares held $8.21B in total assets against $7.32B in total liabilities, including $411.2M of cash and equivalents.
Open the full interactive Business First Bancshares financials → Quarterly statements, key ratios, valuation history and price charts.
Business First Bancshares Key Stats
| Share Price | $30.80 |
|---|---|
| Market Cap | $1.01B |
| P/E Ratio | 11.0 |
| Revenue YoY Growth | +19.6% |
| 52-Week Range | $22.25 – $32.13 |
| Shares Outstanding | 32.6 million (basic, 2026 Q2) |
Business First Bancshares Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Net Interest Income | $127.6M | $153.9M | $199.6M | $215.1M | $227.4M | $273.2M |
| Provision for Credit Losses | $11.4M | $8.0M | $10.9M | $4.5M | $10.9M | $11.3M |
| Noninterest Income | $21.6M | $35.8M | $29.3M | $36.6M | $44.2M | $51.5M |
| Noninterest Expense | $101.0M | $117.1M | $149.4M | $156.7M | $177.7M | $203.1M |
| Revenue | $149.2M | $189.7M | $228.9M | $251.8M | $271.6M | $324.7M |
| Pre-Tax Income | $36.8M | $64.6M | $68.6M | $90.6M | $83.1M | $110.3M |
| Income Tax | $6.8M | $12.4M | $14.3M | $19.5M | $17.9M | $22.4M |
| Net Income | $30.0M | $52.1M | $54.3M | $71.0M | $65.1M | $87.9M |
| Diluted EPS | $1.64 | $2.53 | $2.32 | $2.59 | $2.26 | $2.79 |
Business First Bancshares Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $80.9M | $83.1M | $89.2M | $91.8M |
| Net Income | $22.9M | $22.4M | $23.6M | $24.2M |
| Diluted EPS | $0.73 | $0.76 | $0.68 | $0.70 |
Business First Bancshares Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $149.1M | $68.4M | $152.7M | $226.1M | $319.1M | $411.2M |
| Loans (Net) | $2.97B | $3.16B | $4.57B | — | $5.93B | $6.14B |
| Total Assets | $4.16B | $4.73B | $5.99B | $6.58B | $7.86B | $8.21B |
| Deposits | $3.62B | $4.08B | $4.82B | $5.25B | $6.51B | $6.70B |
| Total Long-Term Debt | $68.1M | $163.4M | $520.8M | $311.2M | $455.6M | $523.7M |
| Total Liabilities | $3.75B | $4.29B | $5.41B | $5.94B | $7.06B | $7.32B |
| Shareholders' Equity | $410.0M | $433.4M | $580.5M | $644.3M | $799.5M | $896.9M |
Business First Bancshares Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $29.3M | $56.4M | $69.6M | $92.4M | $61.4M | $92.1M |
| Cash From Investing | -$475.3M | -$675.4M | -$700.5M | -$521.1M | -$294.9M | -$281.5M |
| Cash From Financing | $505.7M | $538.2M | $715.3M | $502.1M | $326.5M | $281.5M |
| Free Cash Flow | $26.4M | $52.5M | $61.8M | $80.8M | $59.8M | $92.0M |
Figures from Business First Bancshares' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Business First Bancshares financials page for every line item.
Business First Bancshares Company Profile
| Ticker | BFST |
|---|---|
| Exchange | Nasdaq |
| Industry | State Commercial Banks |
| Headquarters | Baton Rouge, Louisiana |
| Incorporated in | Louisiana |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0001624322 |
Frequently Asked Questions
What was Business First Bancshares' revenue in fiscal 2025?
Business First Bancshares (BFST) reported revenue of $324.7M for fiscal 2025.
What is Business First Bancshares' annual revenue history?
Business First Bancshares' annual revenue by fiscal year: 2020: $149.2M; 2021: $189.7M; 2022: $228.9M; 2023: $251.8M; 2024: $271.6M; 2025: $324.7M.
What was Business First Bancshares' net income in fiscal 2025?
Business First Bancshares reported net income of $87.9M for fiscal 2025.
What was Business First Bancshares' earnings per share (EPS) in fiscal 2025?
Business First Bancshares' diluted EPS was $2.79 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Business First Bancshares generate in fiscal 2025?
Business First Bancshares generated $92.0M of free cash flow in fiscal 2025.
What was Business First Bancshares' revenue last quarter?
In its most recent reported quarter (2026 Q2), Business First Bancshares reported revenue of $91.8M.
How much debt does Business First Bancshares have?
Business First Bancshares reported $523.7M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Business First Bancshares are outstanding?
Business First Bancshares reported a weighted average of 32.6 million basic shares outstanding in 2026 Q2.
What is Business First Bancshares' market cap?
Based on its latest closing price, Business First Bancshares (BFST) has a market capitalization of about $1.01B.
When does Business First Bancshares' fiscal year end?
Business First Bancshares' fiscal year end, as registered with the SEC, is December 31.
Where is Business First Bancshares headquartered?
Business First Bancshares lists its business address in Baton Rouge, Louisiana in its SEC filings.