Earnings release
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b1 BANK 500 Laurel Street Baton Rouge , LA 70801 Phone : 877.614.7600 FOR IMMEDIATE RELEASE April 22 , 2021 Misty Albrecht b1BANK 225.286.7879 Misty.Albrecht@b1BANK.com BUSINESS FIRST BANCSHARES , INC . , ANNOUNCES FINANCIAL RESULTS FOR Q1 2021 Baton Rouge , La . ( April 22 , 2021 ) – Business First Bancshares , Inc. ( NASDAQ : BFST ) ( Business First ) , parent company of b1BANK , Baton Rouge , Louisiana , today announced its unaudited results for the quarter ended March 31 , 2021 , including net income of $ 12.3 million , or $ 0.59 per diluted share , a decrease of $ 1.5 million and $ 0.08 , respectively , from prior quarter ended December 31 , 2020. On a non - GAAP basis , core net income for the quarter ended March 31 , 2021 , which excludes certain income and expenses , was $ 12.6 million , or $ 0.61 per diluted share , a decrease of $ 1.5 million and $ 0.07 , respectively , from prior quarter ended December 31 , 2020 . " 2021 has gotten off to a fast start for b1BANK , ” said Jude Melville , president and CEO . " Growth in our earnings power reflects successful integration of the significant merger we conducted in 2020 , the additions to our board speak to our credibility as active participants in our community , and continued strong asset quality and stable NIM demonstrate our focus on the health of our portfolio even during a time of significant expansion . We're especially excited about our acquisition of SSW and the capability that partnership gives us to more thoroughly serve our clients in the coming years . " On April 22 , 2021 , Business First's board of directors declared a quarterly dividend based upon financial performance for the first quarter in the amount of $ 0.12 per share , an increase of $ 0.02 from the prior quarter , to the common shareholders of record as of May 15 , 2021 . The dividend will be paid on May 31 , 2021 , or as soon thereafter as practicable . Quarterly Highlights Smith Shellnut Wilson , LLC ( SSW ) Acquisition . On March 22 , 2021 , Business First , through b₁BANK , entered into a definitive agreement to acquire SSW , a registered investment advisor with approximately $ 3.5 billion in assets under management , b1BANK.com