Business First Bancshares reports Q2 core EPS 66c, consensus 64c

Return to common shareholders on average assets, on an annualized basis, was 1.07% for the quarter ended June 30, 2025, or 1.01% on a non-GAAP basis, compared to 1.00% or 1.01% on a non-GAAP basis for the linked quarter. Net interest income totaled $67.0 million and net interest margin and net interest spread were 3.68% and 2.88%, respectively, compared to $66.0 million, 3.68% and 2.91% for the linked quarter. Non-GAAP net interest margin and net interest spread were 3.64% and 2.84% for the quarter ended June 30, 2025, compared to 3.64% and 2.86% for the linked quarter. Net interest margin for the quarter was impacted by excess funding utilized during the core conversion and incremental funding cost associated with replacing the Kaplan deposit portfolio. Book value per common share increased to $26.23 at June 30, 2025, compared to $25.51 at March 31, 2025, due to strong earnings and positive fair value adjustments. On a non-GAAP basis, tangible book value per common share increased from $20.84 at the linked quarter to $21.61 at June 30, 2025, 3.70% or 14.82% annualized. Common equity to total assets increased from 9.69% to 9.77% and tangible common equity to tangible assets increased from 8.06% to 8.19%, 1.61% or 6.47% annualized, compared to the linked quarter, driven largely by solid quarterly earnings. “Between our latest partnership announcement, successful core conversion and legacy branch repositioning, this was a quarter that positions us for continued growth and development in the coming quarters and years,” said Jude Melville, chairman, president and CEO of Business First Bancshares (BFST), “I’m especially proud that our team conducted these productive operational activities while continuing to post consistent earnings and healthy balance sheet growth including our tangible book value and capital levels. We look forward to converting our Oakwood franchise systems late in the third quarter and competing from a position of strength in the Dallas market as a fully integrated team.”