Business First Bancshares, Inc. reported a solid financial performance for the third quarter of 2025, with net income available to common shareholders reaching $21.5 million, or $0.73 per share, compared to $16.5 million, or $0.65 per share, in the same period last year. For the nine months ended September 30, 2025, net income increased to $61.5 million, a 37.9% rise from $44.6 million in the prior year. The company's total assets grew to $8.0 billion, reflecting a $96.8 million increase from December 31, 2024, driven by a rise in the mortgage-backed investment portfolio and unrealized gains in the investment portfolio.
The bank's net interest income for the nine months ended September 30, 2025, was $202.3 million, up 25.1% from $161.7 million in the same period of 2024. This increase was largely attributed to the acquisition of Oakwood Bancshares, which was completed in late 2024. The net interest margin improved to 3.68% for the nine months, compared to 3.43% in the previous year. However, the allowance for credit losses increased to 1.03% of total loans held for investment, up from 0.98% at the end of 2024, reflecting a cautious approach amid economic uncertainties.
In terms of operational developments, Business First Bancshares has been active in expanding its footprint through strategic acquisitions. The company completed the acquisition of Waterstone LSP, LLC in January 2024 and merged with Oakwood Bancshares in October 2024. Additionally, the sale of the Kaplan banking center in April 2025 generated a gain of $3.4 million. The company is also in the process of acquiring Progressive Bancorp, which had approximately $755.3 million in total assets as of June 30, 2025.
As of September 30, 2025, total loans held for investment were $6.0 billion, a slight increase of $39.7 million from the previous year. The loan portfolio remains diversified, with commercial loans making up 31.9% and real estate loans accounting for 66.9% of total loans. The bank's total deposits were $6.5 billion, reflecting a marginal decrease of $4.5 million from December 31, 2024. Noninterest-bearing deposits increased slightly, indicating a stable funding base.
Looking ahead, Business First Bancshares aims to continue its growth trajectory while managing risks associated with credit quality and interest rates. The company remains focused on enhancing shareholder value through strategic acquisitions and maintaining a strong capital position, with total shareholders' equity increasing to $878.4 million as of September 30, 2025. The bank's capital ratios indicate a well-capitalized status, positioning it favorably for future growth opportunities.
About Business First Bancshares, Inc.
Business First Bancshares, Inc. is a financial holding company and parent of b1BANK, a community-focused bank serving small-to-midsized businesses and high net worth individuals in Louisiana and Texas. It offers commercial and consumer banking products, including loans, deposits, treasury management, and wealth services. The company emphasizes relationship-driven banking with local decision-making, sophisticated business lending expertise, and a disciplined growth strategy centered on underserved markets.
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