The following is a summary of the Business First Bancshares, Inc. (BFST) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Reported Q2 GAAP net income and EPS available to common shareholders of $15.9 million and $0.62 respectively.

• Adjusted non-GAAP net income and EPS were $16.3 million and $0.64, reflecting solid core operating results.

• GAAP reported net interest margin was 3.45%, benefiting from $1.7 million in loan discount accretion. Core NIM, excluding accretion of 3.34%, also performed well.

• Noted growth metrics, including a $1.9 million gain from a sale of a USDA guaranteed loan and loan discount accretion effects on earnings.

Business Progress:

• Marked growth in core money market deposit accounts, which contributed to a strategic reduction in higher-cost brokered deposit balances.

• Continuation of shift in loan composition, notably growth in C&I loans, balancing reductions in C&D and Investment CRE portfolios.

• Forward steps towards pending Oakwood Bank acquisition with expected positive integration and sustained growth trajectories in core banking sectors.

Opportunities:

• Strong pipeline for commercial lending, supported by strategic participation networks providing flexibility in banking operations and client service.

• Continued diversification in banking products, including USDA loan sales and enhanced SBA loan functioning through the Waterstone acquisition.

Risks:

• Potential pressures from economic and interest rate changes impacting loan repayment capabilities and deposit costs, along with the integration risks associated with the Oakwood acquisition.

More details: Business First Bancshares IR

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