Home Uncategorized b1BANK posts earnings, cites Minden for gains

b1BANK posts earnings, cites Minden for gains

Business First Bank logo (PRNewsfoto/Business First Bank)

Special to the MInden Press-Herald

Business First Bancshares, Inc. (NASDAQ: BFST) (Business First), parent company of Business First Bank, Baton Rouge, Louisiana, announced its unaudited results for the quarter ended June 30, 2018, including record quarterly net income of $3.6 million

“Our second quarter performance continues to exemplify and enhance the value of the franchise for our shareholders and clients,” said Jude Melville, President and CEO.

“The significant momentum generated during the first quarter was sustained as the synergies from the Minden Bancorp acquisition continued to materialize and translate into overall shareholder value through improved returns, earnings accretion, and net interest income growth.

“The combination of our dedicated team and healthy loan pipelines, along with recent loan growth, should be catalysts for continued solid financial performance throughout the second half of 2018.”

“In addition to our record quarterly results and prospective organic growth for the remainder of 2018, we continue to be excited about the opportunities our planned merger with Richland State Bancorp will provide our current and future clients, employees, and shareholders. Commensurate with helping Business First become the region’s most influential business-focused community bank, the partnership will increase our presence along the I-20 corridor and assist in the acceleration of our strategic objectives.”

On July 19, 2018, Business First’s Board of Directors declared a quarterly dividend based upon financial performance for the quarter in the amount of $0.08 per share to the common shareholders of record as of August 15, 2018, consistent with the prior quarter. The dividend will be paid on August 31, 2018, or as soon thereafter as practicable.