The bank maintains a stable capital position with an equity-to-assets ratio of 0.11, supporting its asset growth to $8.9 billion as of 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Cash & Short Term Investments | 3.71B | 1B | 347.76M | 1.11B | 1.04B | 1.09B | 789.74M | 367.56M | 405.59M | 286.74M | 240.51M | 43.41M | 26.83M | 19.27M | 22.59M |
| Cash & Due from Banks | 589.8M | 411.18M | 319.1M | 226.11M | 152.74M | 68.38M | 149.13M | 89.37M | 96.07M | 107.59M | 42.17M | 43.41M | 26.83M | 19.27M | 10.76M |
| Short Term Investments | 621.72M | 590.93M | 28.66M | 879.57M | 890.75M | 1.02B | 640.61M | 278.19M | 309.52M | 179.15M | 198.34M | 0 | 0 | 0 | 11.82M |
| Total Investments | 7.28B | 6.78B | 6.86B | 5.87B | 5.5B | 4.2B | 3.62B | 1.99B | 1.84B | 1.15B | 1.01B | 216M | 0 | 0 | 641.96M |
| Investments Growth % | 12.44% | -1.24% | 16.96% | 6.74% | 30.89% | 15.89% | 82.17% | 8.34% | 59.04% | 14.6% | 366.4% | - | - | -100% | - |
| Long-Term Investments | 24.89B | 6.19B | 6.83B | 4.99B | 4.61B | 3.18B | 2.98B | 1.71B | 1.53B | 975.35M | 809.09M | 216M | 0 | 0 | 630.14M |
| Accounts Receivables | 38.18M | 38.49M | 35.87M | 29.92M | 25.67M | 19.6M | 23.89M | 8.03M | 8.22M | 4.11M | 3.38M | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 162.97M | 135.64M | 138.82M | 100.29M | 102.58M | 72.1M | 63.6M | 55.19M | 57.37M | 8.83M | 9.1M | 5.93M | 0 | 0 | 0 |
| Goodwill | 133.56M | 121.15M | 121.57M | 88.39M | 88.54M | 59.89M | 53.86M | 48.49M | 49.49M | 6.82M | 6.82M | 3.38M | 0 | 0 | 0 |
| Intangible Assets | 29.41M | 14.5M | 17.25M | 11.89M | 14.04M | 12.2M | 9.73M | 6.69M | 7.88M | 2M | 2.28M | 2.56M | 0 | 0 | 0 |
| PP&E (Net) | 88.42M | 73.98M | 81.95M | 69.48M | 63.18M | 58.16M | 58.59M | 29.28M | 15.11M | 8.78M | 9.28M | 9.23M | 2.18M | 2.77M | 3.29M |
| Other Assets | 721.62M | 758.07M | 389.83M | 264.72M | 118.58M | 299.96M | 235.69M | 100.67M | 78.16M | 34.45M | 34.47M | 1.02B | 655.49M | 662.14M | 20.83M |
| Total Current Assets | 1.25B | 1.04B | 383.63M | 1.14B | 1.07B | 1.11B | 813.63M | 375.59M | 413.81M | 290.85M | 243.9M | 43.41M | 26.83M | 19.27M | 24.83M |
| Total Non-Current Assets | 7.66B | 7.17B | 7.47B | 5.45B | 4.92B | 3.62B | 3.35B | 1.9B | 1.68B | 1.03B | 861.94M | 1.03B | 657.67M | 664.91M | 656.23M |
| Total Assets | 8.91B | 8.21B | 7.86B | 6.58B | 5.99B | 4.73B | 4.16B | 2.27B | 2.09B | 1.32B | 1.11B | 1.08B | 684.5M | 684.18M | 681.06M |
| Asset Growth % | 52.99% | 4.55% | 19.33% | 9.92% | 26.75% | 13.61% | 82.97% | 8.54% | 58.55% | 19.48% | 2.76% | 57.21% | 0.05% | 0.46% | - |
| Return on Assets (ROA) | 1.1% | 1.09% | 0.9% | 1.13% | 1.01% | 1.17% | 0.93% | 1.09% | 0.83% | 0.4% | 0.47% | 0.47% | 0.59% | 0.62% | 0.55% |
| Accounts Payable | 3.69M | 4.17M | 5.97M | 14.84M | 2.09M | 1.35M | 2.5M | 1.53M | 1.37M | 890K | 920K | 566K | 0 | 0 | 0 |
| Total Debt | 384.52M | 551.35M | 483.26M | 635.07M | 560.12M | 187.59M | 105.99M | 185.99M | 92.23M | 80.5M | 53.65M | 47.06M | 15M | 15M | 40M |
| Net Debt | -205.28M | 140.18M | 164.16M | 408.96M | 407.38M | 119.22M | -43.14M | 96.62M | -3.84M | -27.09M | 11.47M | 3.66M | -11.83M | -4.27M | 29.24M |
| Long-Term Debt | 329.77M | 272.53M | 460.63M | 616.19M | 525.85M | 168.45M | 79.14M | 118M | 80M | 77.7M | 50.06M | 47.06M | 15M | 15M | 40M |
| Short-Term Debt | 54.75M | 278.82M | 22.62M | 18.89M | 34.27M | 19.14M | 26.84M | 67.99M | 12.23M | 2.8M | 3.58M | 0 | 0 | 0 | 0 |
| Other Liabilities | 62.47M | 63.75M | 57.07M | 41.59M | 27.42M | 26.78M | 25.23M | 19.21M | 7.3M | 4.4M | 4.92M | 916.58M | 481.28M | 597.26M | 570.05M |
| Total Current Liabilities | 7.52B | 6.98B | 6.54B | 5.28B | 4.86B | 4.1B | 3.65B | 1.85B | 1.75B | 1.06B | 937.3M | 566K | 416K | 453K | 0 |
| Total Non-Current Liabilities | 392.24M | 336.28M | 517.7M | 657.77M | 553.27M | 195.23M | 104.37M | 137.21M | 87.3M | 82.1M | 54.98M | 963.07M | 605.24M | 611.8M | 610.05M |
| Total Liabilities | 7.92B | 7.32B | 7.06B | 5.94B | 5.41B | 4.29B | 3.75B | 1.99B | 1.83B | 1.14B | 992.28M | 963.64M | 605.66M | 612.26M | 610.05M |
| Total Equity | 991.18M | 896.88M | 799.47M | 644.26M | 580.48M | 433.37M | 409.96M | 285.1M | 260.06M | 179.94M | 113.56M | 112.45M | 78.84M | 71.92M | 71.01M |
| Equity Growth % | 85.39% | 12.19% | 24.09% | 10.99% | 33.95% | 5.71% | 43.8% | 9.63% | 44.53% | 58.45% | 0.99% | 42.62% | 9.62% | 1.28% | - |
| Equity / Assets (Capital Ratio) | 11.13% | 10.92% | 10.18% | 9.78% | 9.69% | 9.17% | 9.85% | 12.54% | 12.41% | 13.62% | 10.27% | 10.45% | 11.52% | 10.51% | 10.43% |
| Return on Equity (ROE) | 10.06% | 10.36% | 9.02% | 11.6% | 10.7% | 12.36% | 8.63% | 8.72% | 6.41% | 3.3% | 4.52% | 4.28% | 5.35% | 5.96% | 5.3% |
| Book Value per Share | 30.23 | 30.24 | 30.22 | 25.47 | 25.44 | 21.00 | 22.47 | 20.85 | 22.52 | 15.60 | 16.42 | 15.98 | 14.06 | 13.06 | 12.88 |
| Tangible BV per Share | 25.26 | 25.67 | 24.98 | 21.50 | 20.94 | 17.51 | 18.99 | 16.82 | 17.55 | 14.84 | 15.10 | 15.14 | 14.06 | 13.06 | 12.88 |
| Common Stock | 32.63M | 29.51M | 29.55M | 25.35M | 25.11M | 20.4M | 20.62M | 13.28M | 13.21M | 10.23M | 6.92M | 7.04M | 5.32M | 5.32M | 5.31M |
| Additional Paid-in Capital | 580.64M | 502.15M | 500.02M | 397.45M | 393.69M | 292.27M | 299.54M | 212.5M | 212.33M | 144.17M | 85.13M | 85.91M | 57.23M | 56.74M | 56.41M |
| Retained Earnings | 343.89M | 326.57M | 260.96M | 216.12M | 163.96M | 121.87M | 79.17M | 56.7M | 37.98M | 27.18M | 23.84M | 20.29M | 16.95M | 12.91M | 8.11M |
| Accumulated OCI | -37.91M | -33.29M | -63M | -66.58M | -74.2M | -1.18M | 10.63M | 2.61M | -3.47M | -1.64M | -2.33M | -789K | -643K | -3.05M | 1.44M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -121K |
| Preferred Stock | 71.93M | 71.93M | 71.93M | 71.93M | 71.93M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
CRE and construction concentration
According to recent financial statements, BFST has grown total assets from $6.6 billion in 2023Q4 to $8.9 billion in 2026Q1, a trajectory that appears driven by aggressive geographic expansion into Texas markets rather than purely organic growth within its legacy Louisiana footprint.
The consistent increase in total assets suggests a management team focused on scaling the balance sheet to achieve regional relevance. Investors should monitor whether this rapid asset accumulation, particularly in competitive Texas markets, maintains the quality of the underlying loan book or if it necessitates a higher risk appetite.
Based on reported figures, BFST has maintained a consistent equity-to-assets ratio of approximately 0.11 throughout recent quarters, indicating a stable capital buffer that supports the bank's ongoing expansion while providing a cushion against potential volatility in its commercial and industrial loan portfolios.
The stability of the equity-to-assets ratio suggests that management is successfully balancing capital retention with the needs of its growing asset base. This capital position appears adequate to support current growth initiatives, though it warrants further investigation into how future M&A activity might impact these regulatory capital levels.
As reported in quarterly filings, BFST's cash and cash equivalents increased to $589.8 million in 2026Q1 from $226.1 million in 2023Q4, reflecting a proactive approach to maintaining liquidity as the bank scales its operations and navigates the complexities of its specialized factoring and correspondent banking business.
The build-up in cash reserves suggests a prudent liquidity strategy, likely intended to provide flexibility for both organic loan demand and potential acquisition opportunities. This liquidity profile appears to mitigate some of the risks associated with the bank's reliance on commercial-focused funding sources in a volatile interest rate environment.
Financial disclosures indicate a significant concentration in commercial real estate and construction lending, which, based on reported figures, represents a primary risk factor that could lead to heightened provisioning requirements if regional economic conditions in the Gulf South or Texas markets experience a downturn.
While the bank's niche factoring business provides some diversification, the heavy weighting toward CRE warrants close monitoring by investors. Any deterioration in property values or construction activity could disproportionately impact the bank's earnings, given the current sensitivity of its provision for credit losses to management's forward-looking economic assumptions.
Quick answers to the most common questions about buying BFST stock.
As of 2025, Business First Bancshares, Inc. (BFST) had total assets of $8.21B including $1.04B in current assets.
Business First Bancshares, Inc. (BFST) carries total debt of $551.4M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Business First Bancshares, Inc. (BFST) has total shareholders' equity (book value) of $896.9M ($30.24 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Business First Bancshares, Inc. (BFST) reported a current ratio of 0.15x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.