Baton Rouge, LA (January 29, 2019) – Business First Bancshares, Inc. (NASDAQ: BFST) (Business First), parent company of b1BANK, Baton Rouge, Louisiana, today announced its unaudited 2018 full-year net income of $14.1 million, or $1.22 per diluted share, increases of $9.2 million and $0.61, respectively, from the prior year.
Core net income, which excludes noncore income and expenses, was $16.8 million, or $1.45 per diluted share, which reflects increases of $13.6 million and $1.06, respectively, from the prior year.
Net income for the quarter ended December 31, 2018, was $3.4 million, or $0.28 per diluted share, which reflects increases of $4.3 million and $0.36, respectively, from the quarter ended December 31, 2017. Core net income was $4.7 million, or $0.38 per diluted share, which reflects increases of $5.4 million and $0.45, respectively, from the quarter ended December 31, 2017.
“Fourth quarter results were a strong way to finish a very successful year,” said Jude Melville, president and CEO. “In each quarter over the course of the year, our team increased core earnings, increased net interest margin and demonstrated an improved core efficiency ratio. In the fourth quarter, we did so while integrating new teammates with the closing of our Richland State Bank partnership.”
“2018 was a transformative year for our company, and we look forward to building on the momentum we’ve generated to maximize value on behalf of our clients and our shareholders over the course of 2019.”
On January 24, 2019, 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 February 15, 2019, consistent with the prior quarter. The dividend will be paid on February 28, 2019, or as soon thereafter as practicable.
