MARKETS / NASDAQ / BFST

NASDAQ · STATE COMMERCIAL BANKS · MID CAP

Business First Bancshares, Inc. BFST

13 fiscal years on record · USD · FY2025 reported · SEC filings only

5 YEARS OF DIVIDEND GROWTH

Revenue

$10.7M

▲ 1.2% YoY

Net income

$87.9M

▲ 34.9% YoY

Free cash flow

$92.0M

▲ 53.8% YoY

In brief

What this company does

We currently operate throughout the state of Louisiana, in the Dallas/Fort Worth metroplex and Houston, from a network of banking centers and loan production offices. As of December 31, 2025, on a consolidated basis, we had total assets of $8.2 billion, total loans of $6.2 billion, total deposits of $6.7 billion and shareholders’ equity of $896.9 million. Our common stock is listed on the Nasdaq Global Select Market under the symbol “BFST”.

Written from the business description in Business First Bancshares, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth

USD 10.7M

Revenue, FY2025 · full 13-year series below

Revenue $M Net income $M

FY2025 · Revenue 10.7 · Net income 87.9

Compound annual growth

Revenue

+9.0%

+14.8%

Net income

+17.4%

+24.0%

+35.9%

EPS, diluted

+6.3%

+11.2%

Dividend / share

+5.9%

+7.3%

Returned to shareholders

+23.9%

+15.6%

+22.1%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +14.8% a year over five years — but profit grew faster: net income at +24.0%, earnings per share at +11.2%.

The share count rose from 0.02B to 0.03B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

821 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 1030.5% · Net 820.8%

ROE

FY2025 · ROE 10.4%

Gross margin—

Operating margin1030.5%

Net margin820.8%

Return on assets1.1%

EBITDA—

Each USD of equity produced 10 cents of profit this year.

Cash & shareholders

USD 20.6M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 92.0

Net buybacks $M Dividends $M

FY2025 · Dividends 16.8 · Net buybacks 3.7

Dividends paidUSD 16.8M

Net buybacksUSD 3.7M

Share of profit23.4%

Consecutive raises5 years (since the 2020 share-count change)

USD 16.8M in dividends and USD 3.7M in buybacks — 23% of the year's profit went back to shareholders.

Total assetsUSD 8.2B

EquityUSD 896.9M

CashUSD 411.2M

DepositsUSD 6.7B

Equity funds 11% of total assets.

The 13-year record

13 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	·	·	·
Operating income $B	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
EBITDA $B	·	·	·	·	·	·	·	·	·	·	·	·	·
Income tax $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net income $B	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Free cash flow $B	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
EPS, diluted $	2.79	2.26	2.59	2.32	2.53	1.64	1.74	1.22	0.61	0.70	0.59	0.72	0.87
Dividend / sh $	0.57	0.56	0.50	0.48	0.46	0.40	0.38	0.30	0.23	0.15	·	·	·
Payout %	19	23	18	20	18	25	21	23	37	21	·	·	·
ROE %	10.4	9.0	11.6	10.7	12.4	8.6	8.7	6.4	3.3	4.5	4.3	5.3	6.7
Shares out B	0.03	0.03	0.03	0.03	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 38 reconciliationsAUDITED

Reconciled in 13 of 19 fiscal years. 19 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityState Commercial Banks

Listed onNASDAQ

Incorporated inLouisiana

Fiscal year endsDecember 31

Data on record since2013