Business First Bancshares Q3 net income rises on loan and deposit growth
BFST•Business First Bancshares’ third-quarter net income and EPS rose slightly from the prior quarter as loans and deposits grew. EPS was $0.71, adjusted net income was $26 million and net interest income was $80.70 million.
1. Quarterly results
Business First Bancshares reported that third-quarter net income and EPS rose slightly from the prior quarter, while adjusted net income increased. The company reported EPS of $0.71, adjusted net income of $26 million and net interest income of $80.70 million.
2. Growth and buybacks
The company said net interest margin improved because of higher loan yields and lower funding costs, and attributed loan and deposit growth to activity in Houston and Southwest Louisiana. It repurchased 204,160 shares for $6.3 million during the quarter and said the integration of Progressive Bank supported operational results.
