The parent company of Business First Bank announced today a record quarterly net income of $3.6 million for the second quarter of 2018, which reflected increases of $1.5 million over the same quarter last year.
Core net income for the Baton Rouge-based Business First Bancshares was $4.1 million, an increase of $2.9 million over the same quarter in 2017.
“Our second quarter performance continues to exemplify and enhance the value of the franchise for our shareholders and clients,” President and CEO Jude Melville says in a prepared statement. “The significant momentum generated during the first quarter was sustained as the synergies from the Minden Bancorp acquisition continued to materialize and translate into overall shareholder value through improved returns, earnings accretion, and net interest income growth.”
During the second quarter, Business First, with the acquisition of Richland State Bancorp Inc., completed a public offering of 1,207,500 shares of common stock at a price of $24.00 per share and converted its loan offices in Dallas and New Orleans into full-service banking centers. The company also secured membership on the Russell 3000 index in June.
