<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001624322</cik>
        <entityName>Business First Bancshares, Inc.</entityName>
        <issuerAddress>
            <street1>500 LAUREL STREET</street1>
            <street2>SUITE 101</street2>
            <city>BATON ROUGE</city>
            <stateOrCountry>LA</stateOrCountry>
            <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
            <zipCode>70801</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>225-248-7600</issuerPhoneNumber>
        <jurisdictionOfInc>LOUISIANA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Lloyd</firstName>
                <middleName>B.</middleName>
                <lastName>Alford</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jack</firstName>
                <middleName>E.</middleName>
                <lastName>Byrd, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <lastName>Graves</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>S.</middleName>
                <lastName>Greer, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>L.</middleName>
                <lastName>Laxton, III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Rolfe</firstName>
                <middleName>H.</middleName>
                <lastName>McCollister, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <middleName>D.</middleName>
                <lastName>McLindon</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>R.</middleName>
                <lastName>Melville, III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Patrick</firstName>
                <middleName>E.</middleName>
                <lastName>Mockler</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>A.</middleName>
                <lastName>Montgomery, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Arthur</firstName>
                <lastName>Price</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Fayez</firstName>
                <middleName>K.</middleName>
                <lastName>Shamieh</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Stewart</firstName>
                <middleName>C.</middleName>
                <lastName>Slack</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kenneth</firstName>
                <middleName>W.</middleName>
                <lastName>Smith</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thomas</firstName>
                <middleName>E.</middleName>
                <lastName>Stewart, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Steven</firstName>
                <middleName>G.</middleName>
                <lastName>White</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>V.</middleName>
                <lastName>Yarborough</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N.</firstName>
                <middleName>Jerome</middleName>
                <lastName>Vascocu</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Donald</firstName>
                <middleName>A.</middleName>
                <lastName>Hingle, II</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Philip</firstName>
                <lastName>Jordan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Keith</firstName>
                <lastName>Mansfield</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alicia</firstName>
                <lastName>Robertson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Greg</firstName>
                <lastName>Robertson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>500 Laurel Street</street1>
                <street2>Suite 101</street2>
                <city>Baton Rouge</city>
                <stateOrCountry>LA</stateOrCountry>
                <stateOrCountryDescription>LOUISIANA</stateOrCountryDescription>
                <zipCode>70801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Commercial Banking</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$25,000,001 - $100,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2018-12-17</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isDebtType>true</isDebtType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>25000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>25000000</totalOfferingAmount>
            <totalAmountSold>25000000</totalAmountSold>
            <totalRemaining>0</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Business First Bancshares, Inc.</issuerName>
                <signatureName>/s/ David R. Melville, III</signatureName>
                <nameOfSigner>David R. Melville, III</nameOfSigner>
                <signatureTitle>President and CEO</signatureTitle>
                <signatureDate>2019-01-02</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
