Overview

* Business First Q2 adjusted EPS beats analyst expectations, per LSEG data

* Company announces acquisition of Progressive Bancorp, expanding footprint

* Business First completes core conversion, enhancing operational efficiency

Outlook

* Business First plans Oakwood franchise conversion late in Q3 2025

* Company aims to strengthen Dallas market position post-conversion

* Business First expects growth from Progressive Bancorp acquisition

* Company sees continued growth and development in coming quarters

Result Drivers

* CORE CONVERSION - Successful conversion to Fidelity Information Systems improved capabilities and efficiencies

* BRANCH SALE - Sale of Kaplan branch resulted in $3.4 mln capital injection and reduced operating costs

* STABLE NIM - Net interest margin stable despite impacts from core conversion and Kaplan deposit sale

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $0.66 $0.64 (5

Adjusted Analysts

EPS )

Q2 EPS $0.7

Q2 $19.50

Adjusted mln

Net

Income

Q2 Net $20.80

Income mln

Q2 Net $67 mln

Interest

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* Wall Street's median 12-month price target for Business First Bancshares Inc ( BFST ) is $30.50, about 16.7% above its July 25 closing price of $25.40

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)