Business First Bancshares, Inc. · NASDAQ:BFST
Business First Bancshares — Q3 2026 Earnings Presentation
36 slides from Business First Bancshares's earnings presentation, October 2026
Slide 1: Q3 2026 Results
Q3 2026 Results
Slide 2: Slide 2
Slide 3: Table of Contents
TABLE OF CONTENTS Legal Disclosures 3 Guiding Principles & Social Impact 4 Business First Bancshares, Inc. Overview 5 – 11 Liquidity and Deposits 12 Securities Portfolio 13 Noninterest Revenue Opportunities 14 Financial Results Q3 2026 Financial Results 16 Credit Metrics Analysis 17 Yield/Rate Analy
Slide 4: Legal Disclosures
LEGAL DISCLOSURES Special Note Concerning Forward-Looking Statements This investor presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act made pursuant to the safe harbor provisions of the Private Securities Liti
Slide 5: Guiding Principles & Social Impact
GUIDING PRINCIPLES & SOCIAL IMPACT b1BANK’s five guiding principles reflect our core beliefs and values, which drive all decisions irrespective of our goals, strategies, or external factors. These tenets are more than guides for making business decisions; they are the core of our culture, driving ou
Slide 6: Business First Bancshares, Inc. Overview
BUSINESS FIRST BANCSHARES, INC. OVERVIEW FRANCHISE HIGHLIGHTS BUSINESS OVERVIEW & CORPORATE ACTIONS • Diversified full-service commercial-focused bank headquartered in • Operations in Louisiana, Texas and Mississippi including: 43 legacy Baton Rouge, Louisiana, focused on serving clients with the Lo
Slide 7: Executive Management
EXECUTIVE MANAGEMENT Jude Melville Gregory Robertson Jerry Vascocu Chairman, President and CEO EVP, Chief Financial Officer President, b1BANK Keith Mansfield Saundra Strong Kathryn Manning EVP, Chief Operations Officer EVP, General Counsel EVP, Chief Risk Officer Heather Roemer Chad Carter Warren Mc
Slide 8: Balanced Footprint
BALANCED FOOTPRINT Dallas Fort Worth Region North Louisiana Region # of Banking Centers: 11 # of Banking Centers(1): 15 # of LPOs: 1 Total Loans: $1,646.6 Total Loans: $1,813.9 Total Deposits: $1,860.7 Total Deposits: $816.9 Deposits / Banking Center(2): $132.9 Deposits / Banking Center: $74.3 Great
Slide 9: Diversified Growth
DIVERSIFIED GROWTH BFST Standalone Assets $8,956 Cumulative Assets Acquired $8,215 $7,857 $6,585 $4,065 $5,990 $3,291 $3,291 $4,726 $2,429 $4,160 $2,429 $1,883 $1,883 $2,095 $2,274 $4,566 $4,924 $4,891 $621 $4,156 $621 $3,562 $2,843 $2,277 $1,473 $1,652 (3) 2018 2019 2020 2021 2022 2023 2024 2025 Q3
Slide 10: Tangible Book Value Per Share (TBVPS) Growth
TANGIBLE BOOK VALUE PER SHARE (TBVPS) GROWTH TBVPS – Trailing 8 Quarters TBVPS – Since Public Listing on Nasdaq $23.36 $23.18 $23.61 $23.71 $23.36 $22.63 $21.61 $20.84 $19.92 $19.92 $18.62 $17.31 $17.71 $16.80 $16.17 $15.34 $19.68 $21.47 $19.88 $21.24 $20.25 $22.58 $24.62 $27.95 $24.62 $25.51 $26.23
Slide 11: Earnings Per Share (EPS) Growth
EARNINGS PER SHARE (EPS) GROWTH Diluted EPS – Trailing 8 Quarters Diluted EPS – Since Public Listing on Nasdaq $2.83 $0.79 $0.79 $2.61 $2.62 $0.72 $0.73 $2.52 $2.49 $0.71 $0.66 $0.65 $0.66 $2.05 $1.80 $1.45 $0.73 $0.71 $0.68 $0.51 $0.65 $0.70 $0.70 $0.71 $2.53 $2.32 $2.59 $1.22 $1.74 $1.64 $2.26 $2.
Slide 12: Consolidated Capital Growth
CONSOLIDATED CAPITAL GROWTH CET1 & TRBC – Trailing 8 Quarters CET1 & TRBC – Since Public Listing on Nasdaq 13.77% 13.91% 13.55% 13.30% 13.03% 13.07% 13.22% 12.93% 13.08% 12.93% 12.75% 12.75% 12.85% 12.75% 12.28% 11.83% 11.94% 11.43% 10.38% 10.63% 10.06% 10.21% 10.29% 9.78% 9.88% 9.94% 9.94% 9.44% 9.
Slide 13: Liquidity and Deposits
LIQUIDITY AND DEPOSITS Liquidity Sources • Continue to carry higher cash balances to support liquidity, with 6.36% of total assets at 9/30/2026. FHLB Borrowings Capacity $ 1,614 FRB Discount Window $ 1,115 • Remain focused on core deposits, which represent just under 90% of total deposits. Unencumbe
Slide 14: Securities Portfolio
SECURITIES PORTFOLIO AFS Securities Portfolio • Portfolio serves as a source of on-balance sheet liquidity and provides interest income stability during times of declining rates. • With the relatively high-rate environment, the Bank is reinvesting portfolio cash flows and may seek opportunities to m
Slide 15: Noninterest Revenue Opportunities
NONINTEREST REVENUE OPPORTUNITIES b1 FINANCIAL SERVICES FINANCIAL INSTITUTIONS GROUP Financial Services Group Revenue Growth • September 2020 b1BANK announced the formation of its Financial Institutions $ in millions Group $18.6 • FIG currently maintains $551 million in total loan participations sol
Slide 16: Financial Results
e BUSINESS FIRST Financial Results
Slide 17: 3rd Quarter 2026 Financial Results
3rd QUARTER 2026 FINANCIAL RESULTS Q3 2026 Results Q3 2026 Highlights Earnings & Profitability Q3 2026 Q2 2026 Q3 2025 Core Net Income (1) Core Diluted EPS (1) Net Income Available to Common Shareholders $ 23,201 $ 22,825 $ 21,505 Pre-Tax, Pre-Provision Earnings (1) 32,711 32,286 32,065 $26.0 millio
Slide 18: Credit Metrics Analysis
CREDIT METRICS ANALYSIS Past Due Loans(1) Nonperforming Loans(2) ACL & FV Discount Net Charge-offs Note: Dollars in millions. (1) Past due loans include balances past due 30 days or more and not on a nonaccrual status. (2) Nonperforming loans include loan balances past due 90 days or more as well as
Slide 19: Yield / Rate Analysis: Long Term Margin Stability
YIELD / RATE ANALYSIS LONG TERM MARGIN STABILITY 8.00% 7.00% 6.74% 6.00% 5.00% 4.00% 4.00% 3.86% 3.80% 3.00% 2.40% 2.26% 2.00% 1.00% 0.00% Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024 2025 2026 (1) NIM NIM ex. Accretion Total Funding Cost Total Cost of Deposits
Slide 20: Loan and Deposit Portfolio Overview
LOAN AND DEPOSIT PORTFOLIO OVERVIEW Loan Portfolio HFI (as of 9/30/26) Deposit Portfolio (as of 9/30/26) 4.6% 13.0% 21.8% 68.0% of total 30.5% 32.0% loans HFI are floating / variable $6.73 $7.38 rate or fixed rate billion billion 15.8% maturing/repricing within the next 42.5% 14.6% 12-months 22.9% 2
Slide 21: Loan Portfolio
Loan Portfolio 20
Slide 22: Loan Composition
LOAN COMPOSITION Loan Portfolio Breakdown Q3 2026 Highlights Total Loans HFI $6,021 $6,189 $6,684 $6,659 $6,781 Q3’26 Avg. Increase (Decrease) by Loan Type Yield(1) QoQ Change ($26.6) +$168.4 +$494.8 ($24.8) +$121.4 ($ in millions) QoQ YoY Commercial $ 2 $ 70 $686 $693 $774 7.14% CRE - Non-Owner Occ
Slide 23: Loan Portfolio Snapshot
LOAN PORTFOLIO SNAPSHOT Total Loan Portfolio Composition Top 5 Exposure Categories Outstanding Unfunded Average NPLs % of Balance Commitment Loan Size Total Loans Commercial $1.94 billion $1.09 billion $456 thousand 2.02% CRE - Owner-Occupied $1.15 billion $69 million $939 thousand 0.84% $6.78 CRE -
Slide 24: Loan Composition: Commercial
LOAN COMPOSITION: COMMERCIAL Commercial Loans by Collateral Commercial Loans by Market Agricultural Houston 9.6% 9.0% Southwest Cash/Securities Louisiana 9.0% 9.3% Dallas Fort AR & Inventory Worth 30.7% 31.3% Greater New Titled Orleans Collateral 10.1% 10.8% Capital 7.9% Equipment Bayou All Other 13
Slide 25: Loan Composition: Commercial Real Estate
LOAN COMPOSITION: COMMERCIAL REAL ESTATE C&D Composition CRE Composition Composition -- Owner Owner Occupied Occupied CRE Composition - Income Producing C&D Highlights 0.8% • $774.2 million total portfolio 8.0% 8.7% 24.3% 7.0% 19.0% 21.0% 15.3% • $34.5 million largest relationship(2) 11.8% • $708 th
Slide 26: Appendix
e BUSINESS FIRST APPENDIX
Slide 27: Historical Financial Summary
HISTORICAL FINANCIAL SUMMARY For the Year Ended December 31, YTD 2021 2022 2023 2024 2025 2026 Balance Sheet & Capital Total Assets $4,726,378 $5,990,460 $6,584,550 $7,857,090 $8,214,740 $8,955,962 Gross Loans (Excl. HFS) 3,189,608 4,606,176 4,992,785 5,981,399 6,189,490 6,780,887 Deposits 4,077,283
Slide 28: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Core Net Income, ROAA, NIM excluding loan discount accretion For the Year Ended December 31, Fiscal Quarter 2021 2022 2023 2024 2025 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Core Net Income: Net Income Available to Common Shareholders $ 52,136 $ 52,905 $ 65,642 $ 5
Slide 29: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Core Net Income and ROAA - Trailing Twelve Months Fiscal Quarter TTM Q4'25 Q1'26 Q2'26 Q3'26 Q3'26 Core Net Income: Net Income Available to Common Shareholders $ 21,009 $ 22,214 $ 22,825 $ 23,201 $ 89,249 Adjustments(1): (Gain)/Loss Former Bank Premises
Slide 30: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TCE/TA, TBVPS Fiscal Quarter Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Tangible Common Equity / Tangible Assets: Tangible Common Equity Total Shareholders' Equity $ 878,440 $ 896,883 $ 991,176 $ 1,008,577 $ 1,002,516 Preferred Stock (71,930) (71,930) (71,930) (71,93
Slide 31: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TCE/TA, TBVPS For the Year Ended December 31, 2021 2022 2023 2024 2025 Tangible Common Equity / Tangible Assets: Tangible Common Equity Total Shareholders' Equity $ 433,368 $ 580,481 $ 644,259 $ 799,466 $ 896,883 Preferred Stock - (71,930) (71,930) (71,9
Slide 32: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Core Efficiency Ratio Fiscal Quarter Fiscal Year Ended TTM Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 12/31/2024 12/31/2025 Q3'26 Core Efficiency Ratio: Noninterest Expense $ 48,882 $ 52,412 $ 57,471 $ 59,525 $ 60,465 $ 177,652 $ 203,078 $ 229,873 Core Adjustments $
Slide 33: Reconciliation of Non-GAAP Financial Measures
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Core Pre-tax, Pre-provision Earnings Fiscal Quarter Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Core pre-tax, pre-provision earnings: Pre-tax, pre-provision earnings $ 32,065 $ 30,680 $ 31,774 $ 32,286 $ 32,711 Adjustments: (Gain)/Loss Former Bank Premises & Equipment
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Slide 36: Business First Bancshares
b BUSINESS FIRST BANCSHARES
Business First Bancshares — Q3 2026 Earnings Presentation on 6ix