b1BANK Reports Q1 Tangible Book Value of $23.18
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 27 2026
0mins
Reports Q1 tangible book value per share $23.18. Reports Q1 net charge-offs .01%. "It was a busy and productive start of the year for b1BANK," said Jude Melville, chairman, president, and CEO of Business First. "Quantitatively, we continued generating consistent profitability, increased our capital ratios and strengthened our liquidity positioning. Qualitatively, we added a large number of strong teammates through consummation of the Progressive Bank acquisition, the addition of a number of seasoned, respected bankers in Houston, and our partnership with Covecta, with whom we are working on building out Agentic AI capabilities. I'm also proud of our team's self-managed subordinated-debt issuance through our network of community bank partners. All these deepening partnerships bode well for the continued building of shareholder value over the course of 2026."
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy BFST?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on BFST
Wall Street analysts forecast BFST stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 28.560
Low
31.00
Averages
32.33
High
34.00
Current: 28.560
Low
31.00
Averages
32.33
High
34.00
About BFST
Business First Bancshares, Inc., through its banking subsidiary b1BANK, operates banking centers and loan production offices in markets across Louisiana and Texas, providing commercial and personal banking products and services. The Company's personal banking products and services include personal checking, personal savings, digital banking, long term savings, personal lending and additional services. Its commercial products and services include commercial checking, commercial savings, commercial lending, online banking, and treasury management. The Company's wealth management products and services include investments, financial planning, and insurance. It also provides private client banking products and services. Its personal checking products include MAX Checking and FLEX Checking. Its personal savings products include MAX Money Market, FLEX Savings and AIM Savings. Its commercial checking products include Essential Business Checking, Aspire Checking, and MAX Business Checking.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Business First Bancshares Reports Strong Q1 Earnings with Strategic Acquisitions
- Improved Financial Performance: Business First Bancshares Inc (NASDAQ:BFST) reported a GAAP net income of $22.2 million and earnings per share of $0.68 for Q1, indicating a significant enhancement in profitability and reflecting increased competitiveness in the market.
- Successful Acquisition Strategy: The acquisition of Progressive Bank added $774 million in assets and nine branches, strengthening BFST's market presence in North Louisiana, which is expected to drive future business growth.
- Strong Financing Capability: The company successfully raised $85 million through a self-managed private placement of subordinated debt, showcasing robust banking relationships that will support future expansion efforts.
- Diversified Non-Interest Income: Non-interest income, particularly from interest rate swaps and SBA loan gains, significantly contributed to quarterly earnings, indicating successful revenue diversification strategies.
See More
Business First Bancshares Q1 2026 Earnings Call Highlights
- Acquisition Progress: Business First Bancshares completed the acquisition of Progressive Bank on January 1, adding over $700 million in assets and 9 branches, significantly enhancing its market position in North Louisiana and expected to drive future revenue growth.
- Financial Performance: The first quarter GAAP net income was $22.2 million with an EPS of $0.68, achieving a core ROAA of 1.10% and a core efficiency ratio of 62%, indicating ongoing improvements in profitability and cost control.
- Loan Growth Outlook: Management anticipates loan growth in the high single digits to 10% in the second and third quarters to offset the slowdown in the first quarter, maintaining an annual loan growth target in the range of 5% to 6%, reflecting confidence in market demand.
- Efficiency Enhancement Initiatives: The bank has partnered with Covecta to initiate automation projects for consumer workflows, identifying over 300 policy rules for automation, which is expected to enhance operational efficiency and reduce long-term costs.
See More
Business First Bancshares Declares Quarterly Dividend
- Quarterly Dividend Announcement: Business First Bancshares has declared a quarterly dividend of $0.15 per share, consistent with previous distributions, reflecting the company's stable cash flow and profitability.
- Yield Overview: The forward yield of 2.12% provides investors with a relatively stable return, enhancing the attractiveness of the company's stock in the market.
- Payment Schedule: The dividend will be payable on May 29, with a record date of May 15 and an ex-dividend date also on May 15, ensuring shareholders receive their earnings promptly.
- Financial Transparency: The company has provided a dividend scorecard, yield chart, and historical earnings data, further boosting investor confidence in its financial health and increasing market interest in its stock.
See More
Business First Bancshares Q1 Earnings Beat Expectations
- Earnings Beat: Business First Bancshares reported a Q1 non-GAAP EPS of $0.73, exceeding expectations by $0.04, which indicates robust profitability and boosts investor confidence in the company's financial health.
- Revenue Miss: The Q1 revenue of $89.25 million, while up 12.7% year-over-year, fell short of market expectations by $1.74 million, highlighting challenges in revenue growth amid a competitive landscape.
- Financial Health: Despite the revenue miss, the improvement in profitability may support future investments and expansions, enhancing the company's long-term growth potential and strategic positioning.
- Positive Market Reaction: Investors reacted positively to the earnings beat, which could drive stock price appreciation and further strengthen the company's standing in the financial markets.
See More
Business First Bancshares Completes $85 Million Private Placement
- Successful Private Placement: Business First Bancshares has completed a private placement of $85 million in 6.50% fixed-to-floating rate subordinated notes, which is expected to strengthen the company's capital base and support future growth strategies.
- Clear Capital Utilization: The proceeds will be used to redeem $66.93 million in existing subordinated debt while providing additional capital support to b1BANK, enabling the company to better seize strategic opportunities in the future.
- Flexible Interest Structure: The notes will bear a fixed interest rate of 6.50% for the first five years, after which the rate will reset quarterly based on the three-month SOFR plus 300 basis points, ensuring the company’s flexibility amid interest rate fluctuations.
- Compliance and Legal Support: Fenimore Kay Harrison LLP served as legal counsel, while UMB Bank acts as the paying agent and registrar, ensuring that the private placement complies with relevant laws and regulations, thereby enhancing investor confidence.
See More
b1BANK Appoints Ben Marmande as Director of Corporate Banking
- Leadership Expansion: Ben Marmande joins b1BANK as Director of Corporate Banking, focusing on client acquisition and relationship growth in Texas, which is expected to enhance the bank's commercial capabilities and market competitiveness.
- Extensive Industry Experience: With 19 years at IBERIABANK and First Horizon, Marmande served as market president in Houston and Baton Rouge, leading teams of commercial relationship managers and private bankers, thereby enhancing his expertise in serving complex commercial clients.
- Strategic Investment: b1BANK's CEO Jude Melville emphasizes that Marmande's appointment is a strategic investment in corporate banking, aiming to provide more valuable services through deep consultative relationships, further solidifying the bank's position in Texas.
- Industry Recognition: As of December 31, 2025, b1BANK had $8.2 billion in assets and has received multiple industry awards for innovation and workplace quality, with Marmande's addition expected to further enhance the bank's reputation and client trust.
See More
Business First Bancshares Reports Strong Q1 Earnings with Strategic Acquisitions
- Improved Financial Performance: Business First Bancshares Inc (NASDAQ:BFST) reported a GAAP net income of $22.2 million and earnings per share of $0.68 for Q1, indicating a significant enhancement in profitability and reflecting increased competitiveness in the market.
- Successful Acquisition Strategy: The acquisition of Progressive Bank added $774 million in assets and nine branches, strengthening BFST's market presence in North Louisiana, which is expected to drive future business growth.
- Strong Financing Capability: The company successfully raised $85 million through a self-managed private placement of subordinated debt, showcasing robust banking relationships that will support future expansion efforts.
- Diversified Non-Interest Income: Non-interest income, particularly from interest rate swaps and SBA loan gains, significantly contributed to quarterly earnings, indicating successful revenue diversification strategies.
See More
Business First Bancshares Q1 2026 Earnings Call Highlights
- Acquisition Progress: Business First Bancshares completed the acquisition of Progressive Bank on January 1, adding over $700 million in assets and 9 branches, significantly enhancing its market position in North Louisiana and expected to drive future revenue growth.
- Financial Performance: The first quarter GAAP net income was $22.2 million with an EPS of $0.68, achieving a core ROAA of 1.10% and a core efficiency ratio of 62%, indicating ongoing improvements in profitability and cost control.
- Loan Growth Outlook: Management anticipates loan growth in the high single digits to 10% in the second and third quarters to offset the slowdown in the first quarter, maintaining an annual loan growth target in the range of 5% to 6%, reflecting confidence in market demand.
- Efficiency Enhancement Initiatives: The bank has partnered with Covecta to initiate automation projects for consumer workflows, identifying over 300 policy rules for automation, which is expected to enhance operational efficiency and reduce long-term costs.
See More
Business First Bancshares Declares Quarterly Dividend
- Quarterly Dividend Announcement: Business First Bancshares has declared a quarterly dividend of $0.15 per share, consistent with previous distributions, reflecting the company's stable cash flow and profitability.
- Yield Overview: The forward yield of 2.12% provides investors with a relatively stable return, enhancing the attractiveness of the company's stock in the market.
- Payment Schedule: The dividend will be payable on May 29, with a record date of May 15 and an ex-dividend date also on May 15, ensuring shareholders receive their earnings promptly.
- Financial Transparency: The company has provided a dividend scorecard, yield chart, and historical earnings data, further boosting investor confidence in its financial health and increasing market interest in its stock.
See More
Business First Bancshares Q1 Earnings Beat Expectations
- Earnings Beat: Business First Bancshares reported a Q1 non-GAAP EPS of $0.73, exceeding expectations by $0.04, which indicates robust profitability and boosts investor confidence in the company's financial health.
- Revenue Miss: The Q1 revenue of $89.25 million, while up 12.7% year-over-year, fell short of market expectations by $1.74 million, highlighting challenges in revenue growth amid a competitive landscape.
- Financial Health: Despite the revenue miss, the improvement in profitability may support future investments and expansions, enhancing the company's long-term growth potential and strategic positioning.
- Positive Market Reaction: Investors reacted positively to the earnings beat, which could drive stock price appreciation and further strengthen the company's standing in the financial markets.
See More
Business First Bancshares Completes $85 Million Private Placement
- Successful Private Placement: Business First Bancshares has completed a private placement of $85 million in 6.50% fixed-to-floating rate subordinated notes, which is expected to strengthen the company's capital base and support future growth strategies.
- Clear Capital Utilization: The proceeds will be used to redeem $66.93 million in existing subordinated debt while providing additional capital support to b1BANK, enabling the company to better seize strategic opportunities in the future.
- Flexible Interest Structure: The notes will bear a fixed interest rate of 6.50% for the first five years, after which the rate will reset quarterly based on the three-month SOFR plus 300 basis points, ensuring the company’s flexibility amid interest rate fluctuations.
- Compliance and Legal Support: Fenimore Kay Harrison LLP served as legal counsel, while UMB Bank acts as the paying agent and registrar, ensuring that the private placement complies with relevant laws and regulations, thereby enhancing investor confidence.
See More
b1BANK Appoints Ben Marmande as Director of Corporate Banking
- Leadership Expansion: Ben Marmande joins b1BANK as Director of Corporate Banking, focusing on client acquisition and relationship growth in Texas, which is expected to enhance the bank's commercial capabilities and market competitiveness.
- Extensive Industry Experience: With 19 years at IBERIABANK and First Horizon, Marmande served as market president in Houston and Baton Rouge, leading teams of commercial relationship managers and private bankers, thereby enhancing his expertise in serving complex commercial clients.
- Strategic Investment: b1BANK's CEO Jude Melville emphasizes that Marmande's appointment is a strategic investment in corporate banking, aiming to provide more valuable services through deep consultative relationships, further solidifying the bank's position in Texas.
- Industry Recognition: As of December 31, 2025, b1BANK had $8.2 billion in assets and has received multiple industry awards for innovation and workplace quality, with Marmande's addition expected to further enhance the bank's reputation and client trust.
See More
