Note 27 - Financial Statements - Parent Company Only -

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

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

Note 27 – 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, 2023 AND 2022

(Dollars in thousands)

	2023			2022
Assets:
Cash	$	12,382		$	35,684
Investment in Subsidiaries		714,971			641,491
Fintech Funds		3,924			3,080
Goodwill		5,704			5,704
Income Taxes Receivable		10,840			8,739
Other Assets		1,610			1,794
Total Assets	$	749,431		$	696,492
Liabilities:
Accrued Interest Payable	$	-		$	80
Subordinated Debt		99,990			110,749
Subordinated Debt - Trust Preferred Securities		5,155			5,155
Other Liabilities		27			27
Total Liabilities		105,172			116,011
Shareholders' Equity:
Preferred Stock		71,930			71,930
Common Stock		25,352			25,110
Additional Paid-in Capital		397,447			393,690
Retained Earnings		216,115			163,955
Accumulated Other Comprehensive Income (Loss)		(66,585	)		(74,204	)
Total Shareholders' Equity		644,259			580,481
Total Liabilities and Shareholders' Equity	$	749,431		$	696,492

STATEMENTS OF INCOME

FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021

(Dollars in thousands)

	2023			2022			2021
Income:
Dividend Income From Subsidiaries	$	13,000		$	10,000		$	13,000
Interest Income		19			13			5
Other Income		1,147			43			-
Expenses:
Interest Expense		5,753			5,477			3,793
Other Operating Expenses		6,102			6,097			4,374
Income (Loss) Before Income Taxes and Equity in Undistributed
Net Income of Subsidiaries		2,311			(1,518	)		4,838
Income Tax Benefit		(2,059	)		(2,400	)		(1,916	)
Income Before Equity in Undistributed Net Income of Subsidiaries		4,370			882			6,754
Equity in Undistributed Net Income of Subsidiaries		66,673			53,373			45,382
Net Income		71,043			54,255			52,136
Preferred Stock Dividends		5,401			1,350			-
Net Income Available to Common Shareholders	$	65,642		$	52,905		$	52,136