Note 26 - Financial Statements - Parent Company Only -

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Note 26 – Financial Statements – Parent Company Only –

The balance sheets and statements of income for Business First Bancshares, Inc. (Parent Company) are as follows:

BALANCE SHEETS

AS OF DECEMBER 31, 2022 AND 2021

(Dollars in thousands)

	2022			2021
Assets:
Cash	$	35,684		$	1,322
Investment in Subsidiaries		641,491			509,835
Fintech Funds		3,080			1,364
Goodwill		5,704			-
Income Taxes Receivable		8,739			6,464
Other Assets		1,794			1,003
Total Assets	$	696,492		$	519,988
Liabilities:
Accrued Interest Payable	$	80		$	-
Short Term Borrowings		9			20
Subordinated Debt		110,749			81,427
Subordinated Debt - Trust Preferred Securities		5,155			5,155
Other Liabilities		18			18
Total Liabilities		116,011			86,620
Shareholders' Equity:
Preferred Stock		71,930			-
Common Stock		25,110			20,400
Additional Paid-in Capital		393,690			292,271
Retained Earnings		163,955			121,874
Accumulated Other Comprehensive Income (Loss)		(74,204	)		(1,177	)
Total Shareholders' Equity		580,481			433,368
Total Liabilities and Shareholders' Equity	$	696,492		$	519,988

STATEMENTS OF INCOME

FOR THE YEARS ENDED DECEMBER 31, 2022, 2021 AND 2020

(Dollars in thousands)

	2022			2021			2020
Income:
Dividend Income From Subsidiaries	$	10,000		$	13,000		$	24,295
Interest Income		13			5			5
Other Income		43			-			-
Expenses:
Interest Expense		5,477			3,793			2,135
Other Operating Expenses		6,097			4,374			5,943
Income (Loss) Before Income Taxes and Equity in Undistributed
Net Income of Subsidiaries		(1,518	)		4,838			16,222
Income Tax Benefit		(2,400	)		(1,916	)		(1,905	)
Income Before Equity in Undistributed Net Income of Subsidiaries		882			6,754			18,127
Equity in Undistributed Net Income of Subsidiaries		53,373			45,382			11,867
Net Income		54,255			52,136			29,994
Preferred Stock Dividends		1,350			-			-
Net Income Available to Common Shareholders	$	52,905		$	52,136		$	29,994