Monitor the Q3 2026 Progressive Bank system conversion (expected in August) for cost synergy realization and deposit retention. The $85M sub-debt issuance strengthens capital but adds interest expense; watch for margin trajectory as the bank reinvests proceeds from the $100.3M loan sale into higher-yielding organic production.
Price Chart
Executive Summary
Business First Bancshares (BFST) reported Q2 2026 GAAP diluted EPS of $0.70, flat YoY, and core diluted EPS of $0.71, a 7.6% YoY increase. Net interest margin expanded 8 bps to 3.73% and asset quality improved (NPLs fell to 1.26% from 1.53% QoQ), but total deposits declined 3.07% linked-quarter and total loans HFI decreased 0.37% as the bank sold $100.3M of lower-yielding acquired loans. The results are in line with consensus expectations, showing steady profitability with margin expansion offset by deposit outflows and higher expenses.
Key Financial Metrics
Key Facts
- GAAP diluted EPS of $0.70, flat YoY vs $0.70 in Q2 2025
- Core diluted EPS of $0.71, up 7.6% YoY from $0.66
- Net interest margin expanded 8 bps to 3.73% from 3.65% linked quarter
- NPL ratio improved to 1.26% from 1.53% QoQ
- Total deposits decreased $229.4M or 3.07% linked quarter
- Loans HFI decreased $24.8M or 0.37% linked quarter, with organic production offset by $88.3M in loan sales
- Repurchased 176,849 shares for $4.8M at $27.22/share
- Completed $85M subordinated debt issuance on April 2, 2026
- Completed acquisition of American Planning Corporation on June 29, 2026
Financial Impact
Q2 2026 net income available to common shareholders of $22.8M, up 2.8% QoQ from $22.2M; core net income $23.3M, down 2.9% QoQ from $24.0M
Risk Factors
- Deposit outflows of $229M QoQ may pressure funding costs if trend continues
- Nonperforming assets remain elevated at 1.23% of total assets vs 0.76% a year ago
- Efficiency ratio deteriorated to 64.83% from 62.83% YoY, indicating expense growth outpacing revenue
- Higher subordinated debt balance ($114M vs $93M QoQ) increases interest expense
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001624322-26-000032 |
| Document: bfstq226investorpresenta.htm | 0001624322-26-000032 |
| Document: bfst-20260723.htm | 0001624322-26-000032 |
| Document: 0001624322-26-000032-index-headers.html | 0001624322-26-000032 |
| Document: 0001624322-26-000032-index.html | 0001624322-26-000032 |
| Document: 0001624322-26-000032.txt | 0001624322-26-000032 |
| 8-K Data (Synthetic) | 0001624322-26-000032 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Press Release | $31.61 | awaiting T+20 | — | $31.82 (−0.66%) |
Oct 26, 2026 today | 8-K | $31.61 | awaiting T+20 | — | $31.82 (−0.66%) |
Oct 1, 2026 25d ago | Press Release | $30.90 | awaiting T+20 | — | $31.82 (+2.98%) |
Aug 12, 2026 10w ago | Institutional Cluster | $32.28 $31.42 | ▼ −2.66% | ▼ −0.92% | $31.82 (−1.43%) |
Aug 7, 2026 11w ago | Insider Cluster | $31.54 $31.38 | ▼ −0.51% | ▲ +0.41% | $31.82 (+0.89%) |
Aug 7, 2026 11w ago | Insider Cluster | $31.54 $31.38 | ▼ −0.51% | ▲ +0.41% | $31.82 (+0.89%) |
Aug 6, 2026 11w ago | Insider Cluster | $31.66 $31.84 | ▲ +0.57% | ▲ +0.97% | $31.82 (+0.51%) |
Aug 5, 2026 11w ago | Insider Cluster | $31.71 $31.49 | ▼ −0.69% | ▼ −1.29% | $31.82 (+0.35%) |
Jul 31, 2026 12w ago | Insider Cluster | $31.92 $31.02 | ▼ −2.82% | ▼ −4.06% | $31.82 (−0.31%) |
Jul 30, 2026 12w ago | Insider Cluster | $31.82 $31.21 | ▼ −1.92% | ▼ −4.90% | $31.82 (−0.00%) |
US Market Status
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