BFST

Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge. Business First Bancshares (BFST) has drawn fresh attention after reporting second quarter and six month 2026 results, affirming both common and preferred dividends, and updating investors on recent share repurchases. See our latest analysis for Business First Bancshares. At a share price of $31.16, Business First Bancshares has seen momentum build recently, with a 20.40% year to date share price return and a 25.46% total shareholder return over the past year, alongside ongoing dividends and buybacks that appear to be influencing sentiment. If the recent move in Business First Bancshares has you reassessing your watchlist, it could be a good moment to scan the market for other banks or financials with similar traits via the 18 top founder-led companies For Business First Bancshares, recent earnings, dividends, and buybacks sit alongside a share price that is below both analyst targets and one estimate of fair value. Is the market’s caution still warranted as the valuation picture comes into focus? Against the last close of $31.16, the most followed narrative on Business First Bancshares points to a fair value of $32.40, with that view built on detailed revenue, margin, and valuation assumptions that stretch out to 2029. Read the complete narrative. Want to see what is sitting behind that cost and growth story, and how it connects to a richer profit margin profile and a higher future earnings multiple? The full narrative lays out the step by step assumptions that underpin the $32.40 fair value and the required re rating path. Result: Fair Value of $32.40 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Business First Bancshares still faces concentration in commercial real estate and a tight Louisiana and Texas footprint, which could amplify any local credit or economic stress. Find out about the key risks to this Business First Bancshares narrative. If this combination of optimism and caution around Business First Bancshares leaves you uncertain, take a closer look now and consider both perspectives using the 4 key rewards and 2 important warning signs If Business First Bancshares has you thinking more seriously about where to put your money to work, do not stop at a single stock. The Simply Wall Street Screener can quickly surface focused shortlists tailored to what matters most to you. Use it to widen the field and help avoid missing opportunities that fit your style. Pinpoint proven value by scanning a curated list of quality companies that screen as attractively priced using the 49 high quality undervalued stocks. Explore income ideas by sorting through potential yield opportunities via the 9 dividend fortresses. Prioritise resilience by filtering for companies that stand out on stability and fundamentals with the 79 resilient stocks with low risk scores. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include BFST. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributed the quarter's success to a return to normalized loan production and disciplined pricing, which drove an 8-basis point expansion in net interest margin. A strategic loan sale was executed at the end of the quarter to create future margin opportunities by redeploying proceeds into higher-earning assets over the next two periods. The bank achieved a 30% reduction in nonperforming loans, driven by the resolution of specific commercial real estate and business relationships, aligning with previous forecasts. Management highlighted significant industrial tailwinds in Louisiana, specifically citing Meta's $50 billion data center project as a catalyst for regional commercial banking demand. The decline in total deposits was characterized as partly strategic, reflecting a purposeful paydown of higher-cost brokered deposits to optimize the funding mix. Expense increases were linked to non-recurring items, including upfront marketing spend and legal fees associated with resolving a large non-performing credit. The bank anticipates high single-digit annualized loan growth for the remainder of 2026, supported by a significant pipeline in the Houston area. Guidance assumes no further interest rate cuts in 2026, with management maintaining a relatively neutral balance sheet position to manage various rate scenarios. Core noninterest expenses are expected to trend downward to approximately $58 million in Q3 and $57 million in Q4 as Progressive Bank cost synergies are realized. Management expects continued improvement in credit quality, targeting a reduction of nonperforming loans to approximately $50 million or below by year-end. The bank is targeting a 1.25% Return on Average Assets (ROAA) by the fourth quarter, contingent on successful pipeline execution and continued margin expansion. The Progressive Bank system conversion is scheduled for mid-August, which is expected to trigger the majority of projected cost savings. A $85 million subordinated debt issuance was completed to redeem $52 million in callable debt, resulting in a 50-basis point boost to total risk-based capital. Management identified the callable event of preferred stock in September of the following year as a primary future use of capital to reduce financing costs. The Financial Services Group, while growing 20% year-over-year, remains subject to 'lumpy' revenue due to the timing of swap fees and SBA business deals. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. The sale is expected to provide a 4-basis point benefit to net interest margin going forward as liquidity is redeployed. Management does not expect a drag on net interest income because the robust loan pipeline should replace the sold assets within the third quarter. Management noted that seasonal outflows from municipal and commercial accounts in Q2 have already begun to return in July at rates consistent with the Q2 average. Opportunities to further lower deposit costs exist through repricing maturing brokered and organic CDs in the second half of the year. Management expects a 10% to 20% further resolution of nonperforming loans in Q3, with annualized charge-offs likely staying in the high single digits. The 'watch list' of criticized credits has already declined from $450 million at year-end to $330 million, indicating a stabilizing credit environment. Organic growth in Houston and Dallas remains the primary capital priority, followed by the planned redemption of preferred stock next year. Share repurchases will remain opportunistic, specifically when the stock price provides a favorable valuation relative to other capital uses.

This article first appeared on GuruFocus. Net Income: $22.8 million GAAP net income; $23.3 million non-GAAP core net income. Earnings Per Share (EPS): $0.70 GAAP EPS; $0.71 non-GAAP core EPS. Net Interest Margin: Increased by 8 basis points to 3.73% GAAP; core net interest margin increased to 3.68%. Loan Production: Returned to normalized rate, contributing to increased net interest income. Non-Performing Loans: Reduced by about 30% during the quarter. Revenue from Financial Services Group: Running roughly 20% ahead of last year's pace. Total Loans Held for Investment: Decreased by $24.8 million or 1.5% annualized. Total Deposits: Decreased by $229.4 million, with a $237.9 million decrease in interest-bearing deposits offset by an $8.5 million increase in non-interest-bearing deposits. Core Efficiency Ratio: 63.9% for the quarter. Core Loan Yields: 6.58%, up 4 basis points from the prior quarter. Non-Interest Expense: $59.5 million GAAP; $58.4 million core non-interest expense. Non-Performing Loans Ratio: Decreased to 1.26% of loans held for investment. Non-Performing Assets Ratio: Decreased to 1.23% of total assets. Warning! GuruFocus has detected 6 Warning Sign with BFST. Is BFST fairly valued? Test your thesis with our free DCF calculator. Release Date: July 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Business First Bancshares Inc (NASDAQ:BFST) reported a solid second quarter with a return to normalized loan production rates, contributing to a healthy increase in net interest income. The company successfully expanded its margin by eight basis points, partly due to disciplined loan and deposit pricing. Non-performing loans were reduced by about 30%, aligning with the company's forecasted progress. Revenue from the financial services group is running approximately 20% ahead of last year's pace at the halfway mark of the year. The company remains on track for a successful conversion of its Progressive Bank Partnership, expected to enhance its branch network significantly in northeast Louisiana. Deposits declined during the quarter, with a portion of the decline being strategic, but also reflecting seasonal trends. Expenses were higher than normal, driven by upfront marketing spend and elevated legal fees related to resolving a large non-performing credit. Total loans held for investment decreased by 1.5% annualized on a linked quarter basis. The company experienced a decrease in interest-bearing deposits, largely driven by outflows from commercial money market accounts and broker deposits. Non-interest income was relatively consistent with expectations but showed slower swap fee revenue, indicating potential volatility in non-interest revenue streams. Q: Can you provide more details on the balance sheet repositioning and its impact on liquidity and margins for the rest of the year? A: Gregory Robertson, CFO, explained that the transaction occurred at the end of the quarter, with minimal immediate impact. They expect to gain about four basis points in margin going forward by redeploying liquidity into the market. Jude Melville, CEO, added that they anticipate a high single-digit annualized increase in assets for the third and fourth quarters, with the liquidity being put to work quickly. Q: Regarding the deposit decline in Q2, was it strategic or seasonal, and what are the expectations for the rest of the year? A: Gregory Robertson noted that the $237 million outflow in interest-bearing deposits was mainly from municipals and commercial money market accounts, which is seasonal. They have seen a lot of this decrease return in the current quarter. The broker deposits were paid down due to their high cost, and borrowings were increased in anticipation of loan fundings. Q: What are the expectations for expenses in the third quarter, especially regarding advertising and legal fees? A: Gregory Robertson expects expenses to be slightly down in the third quarter, closer to $58 million, and then closer to $57 million in the fourth quarter. The advertising and legal fees are expected to decrease compared to the second quarter. Q: With the Progressive acquisition complete, will there be more share repurchases in the coming quarters? A: Gregory Robertson stated that share repurchases could continue if the price remains favorable. The primary capital use will be for organic growth opportunities, particularly in Houston, and potentially paying down preferred stock next year. Q: Can you elaborate on the opportunities arising from Meta's investment in Louisiana? A: Jude Melville explained that while they are not directly banking the data center, there are opportunities with vendors and service providers involved in the project. The investment is expected to have a positive economic impact on the community, benefiting small businesses and creating broader opportunities for the bank across Louisiana. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Business First (BFST) came out with quarterly earnings of $0.71 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.66 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post earnings of $0.69 per share when it actually produced earnings of $0.73, delivering a surprise of +5.8%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Business First, which belongs to the Zacks Banks - Northeast industry, posted revenues of $91.81 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.47%. This compares to year-ago revenues of $81.46 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Business First shares have added about 16.6% since the beginning of the year versus the S&P 500's gain of 9.6%. While Business First has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Business First was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.76 on $93.64 million in revenues for the coming quarter and $3.03 on $368.75 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, CF Bankshares Inc. (CFBK), is yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $0.89 per share in its upcoming report, which represents a year-over-year change of +15.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. CF Bankshares Inc.'s revenues are expected to be $16.3 million, up 4.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Business First Bancshares, Inc. (BFST) : Free Stock Analysis Report CF Bankshares Inc. (CFBK) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Business First Bancshares, Inc.? Here are five stocks we like better. Profitability improved in Q2, with GAAP net income of $22.8 million and core EPS of $0.71. Business First also posted margin expansion, as net interest margin rose 8 basis points to 3.73% on higher loan/securities yields and lower deposit costs. Credit quality strengthened after the bank resolved about $35 million of non-performing loans, helping reduce non-performing loans to 1.26% of loans and non-performing assets to 1.23% of total assets. Management expects further improvement by year-end. Deposits fell, but management called much of it seasonal, alongside intentional paydown of higher-cost brokered deposits. Executives said deposits were already rebounding in July and expect loan growth to accelerate in the second half of 2026. Business First Bancshares (NASDAQ:BFST) executives said the company’s second quarter of 2026 showed progress on loan production, margin expansion and credit resolution, while acknowledging seasonal deposit outflows and higher-than-normal expenses. Chairman, President and CEO Jude Melville said b1BANK had an “encouragingly solid” quarter that positions the company for a stronger second half of the year. He said loan production returned to a normalized pace and was balanced across the bank’s footprint, with a significant pipeline developing in the Houston market. → Could Truth API Become Trump Media’s First Meaningful Revenue Driver? “All in all, the quarter was a positive step towards increased profitability through earning asset growth, expense control, and continued asset quality improvement over the course of the year,” Melville said. Chief Financial Officer Greg Robertson said second-quarter GAAP net income available to common shareholders was $22.8 million, or $0.70 per share. Results included $1.2 million in merger-related expense, a $545,000 gain on extinguishment of debt and a $6,000 loss on sale of securities. Excluding those items, core net income available to common shareholders was $23.3 million, or $0.71 per share. → 3 Photonics Companies Making Quantum Tech Possible Robertson said the company generated a 1.05% core return on average assets and a core efficiency ratio of 63.9% for the quarter. He said results were helped by better-than-expected margin expansion, improved credit metrics tied to resolutions of previously identified troubled loans and higher capital levels from disciplined balance sheet management. Reported net interest margin increased eight basis points from the prior quarter to 3.73%, while core net interest margin, excluding purchase accounting accretion, also rose eight basis points to 3.68%. Robertson attributed the improvement to higher loan and securities yields and lower deposit costs. He also noted that the second quarter did not include the interest income reversal that weighed on first-quarter margin. → AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off Total loans held for investment decreased $24.8 million, or 1.5% annualized, from the prior quarter. Excluding the Progressive loan sale and resolutions of certain non-performing loans, loans held for investment increased $96.4 million, or 5.8% annualized. Melville said the loan sale created an opportunity to redeploy proceeds into higher-earning assets over the next two quarters. In response to an analyst question, Robertson said the loan sale occurred in the final days of the quarter and had little impact on second-quarter results beyond reducing period-end assets. He said the company expects about a four-basis-point go-forward margin benefit from the transaction. Melville said the bank expects high single-digit annualized loan growth in both the third and fourth quarters and anticipates deploying roughly half of the related liquidity in each quarter. Total deposits decreased by $229.4 million during the quarter, as a $237.9 million decrease in interest-bearing deposits was partly offset by an $8.5 million increase in non-interest-bearing deposits. Robertson said the interest-bearing decline was largely driven by about $72 million in commercial money market accounts and $63 million in brokered deposits. Melville said roughly one-quarter of the deposit decline was intentional, reflecting the paydown of higher-cost brokered deposits. Robertson said the brokered deposits paid down were slightly over $60 million and carried a weighted average cost above 4%. Executives described the remaining deposit outflow as largely seasonal, tied partly to tax payments and municipal and governmental relationships that typically reach low points in the second quarter before rebuilding. Robertson said deposit inflows early in the third quarter have been returning at rates close to the second-quarter average, while Melville said deposits had already begun moving back in materially during July. Robertson said total cost of deposits declined seven basis points linked quarter, and the weighted average deposit cost for June was 2.26%, consistent with the full-quarter average. He said the company still sees 45% to 55% overall deposit betas as achievable in the event of future rate cuts, though management’s baseline assumption is no additional interest rate cuts in 2026. GAAP non-interest expense was $59.5 million, including $1.2 million in acquisition-related expenses. Core non-interest expense was $58.4 million, up $3.1 million from the prior quarter. Robertson said the increase was slightly above expectations and mostly reflected elevated marketing and advertising spending. Melville also cited higher legal fees tied to resolving a large non-performing credit. Robertson said expenses are expected to be slightly lower in the third quarter, closer to $58 million, and closer to $57 million in the fourth quarter as cost savings from the Progressive acquisition begin to be recognized. The company said the Progressive core conversion is scheduled for mid-August. Second-quarter GAAP non-interest income was $14 million, while core non-interest income was $13.4 million. Robertson said core non-interest income was generally in line with expectations, though swap fee revenue was slower. Melville said businesses such as swaps, SBA and the broader financial services group can be “lumpy” because they remain relatively young. Melville said revenue from the financial services group is running about 20% ahead of last year’s pace at the halfway point of 2026. He also said the bank added a new partner and product through Jeff Fair with American Planning Corp., which provides CFO-type consulting services to community banks. Melville said the partnership brings the number of banks served through the financial services platform to more than 200. Robertson highlighted improvement in credit quality during the quarter. The ratio of non-performing loans to loans held for investment declined 27 basis points to 1.26% at June 30, while non-performing assets as a percentage of total assets declined 15 basis points to 1.23%. Robertson said the improvement was driven by resolutions of previously identified commercial real estate and commercial business relationships. In the question-and-answer session, he said the bank resolved about $35 million of non-performing loans during the quarter, including about $31 million in paydowns and about $4 million moving to other real estate owned. Looking ahead, Robertson said management believes a further 10% to 20% reduction in non-performing loans is achievable in the third quarter, along with a possible 10% to 15% reduction in other real estate owned. He said the company believes it can end the year closer to $50 million or slightly below in non-performing loans, a range he described as more normal historically for the bank. Melville emphasized potential growth in Louisiana, pointing to roughly $150 billion in announced capital investment in the state over the past 18 months. He cited Meta’s data center project in Richland Parish, which he said was recently expanded to 5 gigawatts of capacity and more than $50 billion in total investment. Melville said the bank does not expect to bank the data center itself, but sees opportunities with vendors, service providers and small businesses connected to the project. He also said the broader economic impact could benefit municipalities, schools and local communities over time. On capital, Robertson said the company completed a fully self-managed private placement of $85 million of 6.5% fixed-to-floating subordinated debt due in 2036. Part of the proceeds was used to redeem a $52 million issuance that had become callable. Matt Sealy, senior vice president and director of corporate strategy and FP&A, said management expects to end the year with consolidated total risk-based capital near 13.9%, CET1 just under 10.6% and tangible common equity around 9%, assuming mid-8% annualized loan growth over the next two quarters. Robertson said the company repurchased 176,000 shares for about $4.8 million in the second quarter and will remain opportunistic. Melville said the company also intends to continue its dividend path, with a goal of incremental annual increases, noting that the bank has increased its dividend for seven consecutive years since initiating it. Business First Bancshares, Inc is the bank holding company for Business First Bank, a regional community bank headquartered in Louisville, Kentucky. Through its wholly owned subsidiary, the company provides a full suite of commercial and retail banking services to small and medium-sized businesses, professionals and individual consumers. Business First Bancshares operates under a community-focused model, emphasizing personalized service, local decision-making and relationship banking. The company’s primary business activities include commercial lending, treasury and cash management, and deposit services. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Business First Bancshares Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

BATON ROUGE, La., July 23, 2026 (GLOBE NEWSWIRE) -- Business First Bancshares, Inc. (NASDAQ: BFST) (Business First), parent company of b1BANK, today announced its unaudited results for the quarter ended June 30, 2026. Business First reported net income available to common shareholders of $22.8 million or $0.70 per diluted common share, increases of $0.6 million and $0.02, respectively, compared to the linked quarter. On a non-GAAP basis, core net income for the quarter ended June 30, 2026, which excludes certain income and expenses, was $23.3 million or $0.71 per diluted common share, decreases of $0.7 million and $0.02 from the linked quarter. "Our second-quarter results — marked by solid organic loan origination, margin expansion, growth in capital, and improving asset quality trends — are laying the foundation we expected for a strong second half of the year," said Jude Melville, Chairman, President, and CEO of Business First. "Meta's recently announced additional $40 billion investment in Northeast Louisiana, the expected full integration of our Progressive acquisition in August, and meaningful growth in our Houston-area pipeline — along with other positive developments across our markets — give our team significant opportunities to build on as we execute on our growth plans." On Thursday, July 23, 2026, 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 second quarter in the amount of $0.15 per share of common stock. The preferred and common dividends will be paid on August 31, 2026, or as soon thereafter as practicable, to the shareholders of record as of August 15, 2026. Quarterly Highlights Consistent Core Performance. Return to common shareholders on average assets, on an annualized basis, was 1.03% for the quarter ended June 30, 2026, or 1.05% on a non-GAAP basis, compared to 1.01% or 1.10% on a non-GAAP basis for the linked quarter. Return to common shareholders on average equity on an annualized basis, was 9.83% for the quarter ended June 30, 2026, or 10.05% on a non-GAAP basis, compared to 9.77%, or 10.57% on a non-GAAP basis for the linked quarter. American Planning Corporation Acquisition. On June 29, 2026, Business First completed the acquisition of American Planning Corporation, a financial consulting firm serving community banks since 1972. CEO T. Jefferson Fair and his team joined Smith Shellnut Wilson, LLC (SSW), a b1BANK subsidiary, expanding SSW’s advisory platform to serve SSW and b1 Financial Services Group clients nationwide. Margin Expansion. Net interest margin expanded 8 basis points (bps) to 3.73% for the quarter ended June 30, 2026, or 3.68% on a non-GAAP basis, compared to 3.65% or 3.60%, respectively, for the linked quarter. The expansion was driven by a slight improvement in book yield on loans and continued deposit cost management. Improving Shareholder Value. During the second quarter, as part of a previously announced stock repurchase program, Business First repurchased 176,849 shares, with a market value of $4.8 million, at a weighted average price of $27.22 per share. Common equity to total assets increased from 10.32% to 10.52%. Strengthening Capital Position. Tangible common equity to tangible assets increased from 8.65% to 8.79%, an increase of 1.67% or 6.71% annualized, compared to the linked quarter. Book value per common share increased to $28.79 at June 30, 2026, compared to $28.18 at March 31, 2026. On a non-GAAP basis, tangible book value per common share increased from $23.18 at the linked quarter to $23.61 at June 30, 2026, an increase of 1.85% or 7.42% annualized. Consolidated total risk based capital ratio increased to 13.77% from 13.08%, an increase of 0.69% from the prior quarter. The linked quarter capital build was driven by the successful completion of our April 2nd issuance of $85.0 million fixed-to-floating rate subordinated debt. Balance Sheet Repositioning. Completed the sale of $100.3 million lower-yielding acquired Progressive loans during the quarter, including $55.3 million of residential mortgages at a weighted average yield net of fees of 3.0% and $45.0 million of commercial real estate loans at a weighted average yield net of fees of 3.5%. Statement of Financial Condition Loans Loans held for investment decreased $24.8 million or 0.37%, 1.49% annualized, compared to the linked quarter. During the quarter, organic loan production of approximately $96.4 million, or 5.8% annualized, was offset by the sale of $100.3 million of acquired loans and the resolution and reduction of $21.0 million on a nonperforming loan. Credit Quality The ratio of nonperforming loans compared to loans held for investment decreased 27 bps to 1.26% at June 30, 2026, while the ratio of nonperforming assets compared to total assets decreased 15 bps to 1.23% compared to the linked quarter. The decreases in the nonperforming loans and assets ratios over the linked quarter were largely attributable to previously identified commercial real estate and commercial business relationships that the Company resolved during the second quarter. Net charge-offs to average quarterly total loans increased to 4 bps for the quarter ended June 30, 2026, up from 1 bps from the linked quarter. Securities The securities portfolio decreased $4.7 million or 0.45%, from the linked quarter, impacted by $2.6 million in positive pre-tax fair value adjustments. The securities portfolio, based on estimated fair value, represented 11.69% of total assets as of June 30, 2026. Deposits Deposits as of June 30, 2026 decreased $229.4 million or 3.07%, 12.33% annualized, compared to the linked quarter. During the second quarter, interest-bearing deposits decreased $237.9 million or 4.04% and noninterest-bearing deposits increased $8.5 million or 0.54%. The decrease in interest-bearing deposits was largely impacted by approximately $71.8 million in commercial money market accounts and $62.6 million in brokered deposits. Average interest-bearing deposits decreased $145.0 million or 2.46%, and noninterest-bearing deposits decreased $2.9 million or 0.19% from the linked quarter. Borrowings Borrowings increased $206.3 million or 53.66%, from the linked quarter due primarily to increases in short-term Federal Home Loan Bank advances. Shareholders’ Equity Shareholders' equity increased $17.4 million or 1.76% compared to the linked quarter. Accumulated other comprehensive loss decreased from $37.9 million to $35.8 million or 5.51%, during the quarter due to after-tax fair value adjustments in the securities portfolio. Book value per common share increased to $28.79 at June 30, 2026, compared to $28.18 at March 31, 2026. On a non-GAAP basis, tangible book value per common share increased from $23.18 at the linked quarter to $23.61 at June 30, 2026, 1.85% or 7.42% annualized. Results of Operations Net Interest Income For the quarter ended June 30, 2026, net interest income totaled $77.8 million, compared to $75.2 million from the linked quarter. Loan yields increased 2 bps to 6.63% compared to 6.61% from the linked quarter and interest-bearing asset yields increased 7 bps to 6.02% compared to 5.95% from the linked quarter. Net interest margin and net interest spread were 3.73% and 2.99% compared to 3.65% and 2.91% for the linked quarter. The overall cost of funds, which included noninterest-bearing deposits, decreased 1 bps from 2.45% to 2.44% for the quarter ended June 30, 2026. Non-GAAP net interest income (excluding loan discount accretion of $1.0 million) totaled $76.8 million for the quarter ended June 30, 2026, compared to $74.1 million (excluding loan discount accretion of $1.1 million) for the linked quarter. Non-GAAP net interest margin and net interest spread (excluding loan discount accretion of $1.0 million) were 3.68% and 2.94%, respectively, for the quarter ended June 30, 2026, compared to 3.60% and 2.85% (excluding loan discount accretion of $1.1 million) for the linked quarter. Provision for Credit Losses During the quarter ended June 30, 2026, Business First recorded a provision for credit losses of $2.0 million, compared to $2.3 million from the linked quarter. At June 30, 2026, the ratio of allowance for credit losses to loans held for investment was 1.02%, compared to 1.03% for the linked quarter. Other Income For the quarter ended June 30, 2026, other income decreased $0.1 million or 0.59%, compared to the linked quarter. The decrease was largely attributable to a $1.2 million decrease in swap fee income, partially offset by a $0.5 million gain on redemption of debt and a $0.2 million increase in gain on sales of loans. Other Expenses For the quarter ended June 30, 2026, other expenses increased $2.1 million or 3.57% compared to the linked quarter. The increase was largely attributable to increases of $1.1 million each in advertising and promotions expense and other expenses and increases of $0.6 million each in legal and other professional fees and regulatory assessments, partially offset by a $1.1 million decrease in merger and conversion-related expenses. Return on Assets and Common Equity Return to common shareholders on average assets and common equity, each on an annualized basis, were 1.03% and 9.83% for the quarter ended June 30, 2026, compared to 1.01% and 9.77%, respectively, for the linked quarter. Non-GAAP return to common shareholders on average assets and common equity, each on an annualized basis, were 1.05% and 10.05% for the quarter ended June 30, 2026, compared to 1.10% and 10.57% for the linked quarter. Conference Call and Webcast Executive management will host a conference call and webcast to discuss results on Thursday, July 23, 2026, at 4:00 p.m. Central Time. Interested parties may attend the call by dialing toll-free 1-800-715-9871 (North America only), conference ID 4840024, or asking for the Business First Bancshares conference call. The live webcast can be found at https://edge.media-server.com/mmc/p/ow56nmrd. On the day of the presentation, the corresponding slide presentation will be available to view on the b1BANK 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 $8.9 billion in assets, $5.6 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (not including $1.0 billion of b1BANK assets managed by SSW) and operates Banking Centers and Loan Production Offices in markets across Louisiana and Texas providing commercial and personal banking products and services. b1BANK is a 2024 Mastercard “Innovation Award” winner and multiyear winner of American Banker Magazine’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.

Horizon Bancorp (HBNC) came out with quarterly earnings of $0.49 per share, missing the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.47 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -3.92%. A quarter ago, it was expected that this bank holding company would post earnings of $0.48 per share when it actually produced earnings of $0.51, delivering a surprise of +6.25%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Horizon Bancorp, which belongs to the Zacks Banks - Northeast industry, posted revenues of $75.5 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.26%. This compares to year-ago revenues of $66.27 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Horizon Bancorp shares have added about 20.3% since the beginning of the year versus the S&P 500's gain of 9.7%. While Horizon Bancorp has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Horizon Bancorp was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.54 on $77.6 million in revenues for the coming quarter and $2.09 on $305.3 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Business First (BFST), has yet to report results for the quarter ended June 2026. The results are expected to be released on July 23. This company is expected to post quarterly earnings of $0.71 per share in its upcoming report, which represents a year-over-year change of +7.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Business First's revenues are expected to be $91.38 million, up 12.2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Horizon Bancorp (IN) (HBNC) : Free Stock Analysis Report Business First Bancshares, Inc. (BFST) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Business First (BFST) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on July 23, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This company is expected to post quarterly earnings of $0.71 per share in its upcoming report, which represents a year-over-year change of +7.6%. Revenues are expected to be $91.38 million, up 12.2% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Business First, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +2.82%. On the other hand, the stock currently carries a Zacks Rank of #2. So, this combination indicates that Business First will most likely beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Business First would post earnings of $0.69 per share when it actually produced earnings of $0.73, delivering a surprise of +5.80%. Over the last four quarters, the company has beaten consensus EPS estimates four times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Business First appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Among the stocks in the Zacks Banks - Northeast industry, Horizon Bancorp (HBNC), is soon expected to post earnings of $0.51 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +8.5%. This quarter's revenue is expected to be $75.7 million, up 14.2% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Horizon Bancorp has remained unchanged. Nevertheless, the company now has an Earnings ESP of 0.00%, reflecting an equal Most Accurate Estimate. This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Horizon Bancorp will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Business First Bancshares, Inc. (BFST) : Free Stock Analysis Report Horizon Bancorp (IN) (HBNC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research