Business First Bancshares, Inc. (BFST) Balance Sheet
BFST balance sheet, 2025
December 31, 2025 · U.S. dollars$8.21B assets = $7.32B liabilities + $896.9M equity
Both columns are drawn to the same scale: what BFST owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BFST financial health
Descriptive bands, not a rating. Fiscal 2025.
BFST balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.11B2016 | $8.21B2025 | +25.0%/yr | |
| Total liabilities | $992.3M2016 | $7.32B2025 | +24.9%/yr | |
| Shareholders’ equity | $113.6M2016 | $896.9M2025 | +25.8%/yr | |
| Cash & short-term investments | $240.5M2016 | $1.00B2025 | +17.2%/yr | |
| Total debt | $53.6M2016 | $551.4M2025 | +29.5%/yr | |
| Net cash (debt) | $186.9M2016 | $450.8M2025 | +$263.9M | |
| Working capital | −$693.4M2016 | −$5.94B2025 | −$5.2B | |
| Book value per share | $16.422016 | $30.242025 | +7.0%/yr | |
| Debt / equity | 0.472016 | 0.612025 | +0.14 | |
| Shares outstanding | 6.9M2016 | 29.7M2025 | +17.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BFST assets
BFST liabilities and equity
BFST debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BFST balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.00B | $347.8M | $1.11B | $1.04B | $1.09B | $789.7M | $367.6M | $405.6M | $286.7M | $240.5M |
| Cash & equivalents | $411.2M | $319.1M | $226.1M | $152.7M | $68.4M | $149.1M | $89.4M | $96.1M | $107.6M | $42.2M |
| Short-term investments | $590.9M | $28.7M | $879.6M | $890.8M | $1.02B | $640.6M | $278.2M | $309.5M | $179.1M | $198.3M |
| Receivables | $38.5M | $35.9M | $29.9M | $25.7M | $19.6M | $23.9M | $8.0M | $8.2M | $4.1M | $3.4M |
| Inventory | $0 | $0 | −$4.76B | −$195.4M | −$316.4M | −$356.2M | −$162.8M | $1.9M | $227,000 | $1.2M |
| Other current assets | $0 | $0 | $4.76B | $195.4M | $316.4M | $356.2M | $162.8M | $0 | $0 | $0 |
| Total current assets | $1.04B | $383.6M | $1.14B | $1.07B | $1.11B | $813.6M | $375.6M | $413.8M | $290.8M | $243.9M |
| Property, plant & equipment (net) | $74.0M | $82.0M | $69.5M | $63.2M | $58.2M | $58.6M | $29.3M | $15.1M | $8.8M | $9.3M |
| Goodwill & intangible assets | $135.6M | $138.8M | $100.3M | $102.6M | $72.1M | $63.6M | $55.2M | $57.4M | $8.8M | $9.1M |
| Long-term investments | $640.3M | $934.6M | $913.5M | $928.2M | $1.04B | $3.61B | $290.8M | $318.8M | $187.8M | $204.5M |
| Other non-current assets | $6.32B | $6.32B | $4.37B | $3.83B | $2.45B | $0 | $1.52B | $1.29B | $825.0M | $639.1M |
| Total assets | $8.21B | $7.86B | $6.58B | $5.99B | $4.73B | $4.16B | $2.27B | $2.09B | $1.32B | $1.11B |
| Liabilities | ||||||||||
| Accounts payable | $4.2M | $6.0M | $14.8M | $2.1M | $1.4M | $2.5M | $1.5M | $1.4M | $890,000 | $920,000 |
| Short-term debt | $278.8M | $22.6M | $18.9M | $34.3M | $19.1M | $26.8M | $68.0M | $12.2M | $2.8M | $3.6M |
| Deferred revenue | — | — | −$14.8M | — | — | — | −$76.5M | −$35.9M | −$917.0M | −$799.4M |
| Total current liabilities | $6.98B | $6.54B | $5.28B | $4.86B | $4.10B | $3.65B | $1.85B | $1.75B | $1.06B | $937.3M |
| Long-term debt | $272.5M | $460.6M | $616.2M | $110.7M | $81.4M | $31.0M | $25.0M | $25.0M | $2.7M | $3.0M |
| Other long-term liabilities | $63.7M | $57.1M | $41.6M | $442.5M | $113.8M | $73.4M | $112.2M | $62.3M | $79.4M | $52.0M |
| Total liabilities | $7.32B | $7.06B | $5.94B | $5.41B | $4.29B | $3.75B | $1.99B | $1.83B | $1.14B | $992.3M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $29.5M | $29.6M | $25.4M | $25.1M | $20.4M | $20.6M | $13.3M | $13.2M | $10.2M | $6.9M |
| Retained earnings (deficit) | $326.6M | $261.0M | $216.1M | $164.0M | $121.9M | $79.2M | $56.7M | $38.0M | $27.2M | $23.8M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$33.3M | −$63.0M | −$66.6M | −$74.2M | −$1.2M | $10.6M | $2.6M | −$3.5M | −$1.6M | −$2.3M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $896.9M | $799.5M | $644.3M | $580.5M | $433.4M | $410.0M | $285.1M | $260.1M | $179.9M | $113.6M |
| Key figures | ||||||||||
| Total debt | $551.4M | $483.3M | $635.1M | $560.1M | $187.6M | $106.0M | $186.0M | $92.2M | $80.5M | $53.6M |
| Net cash (debt) | $450.8M | −$135.5M | $470.6M | $483.4M | $901.8M | $683.7M | $181.6M | $313.4M | $206.2M | $186.9M |
| Working capital | −$5.94B | −$6.16B | −$4.15B | −$3.79B | −$2.99B | −$2.83B | −$1.48B | −$1.33B | −$768.4M | −$693.4M |
| Tangible book value | $761.2M | $660.6M | $544.0M | $477.9M | $361.3M | $346.4M | $229.9M | $202.7M | $171.1M | $104.5M |
| Book value per share | $30.24 | $30.22 | $25.47 | $25.44 | $21.00 | $22.47 | $20.85 | $22.52 | $15.60 | $16.42 |
| Shares outstanding | 29.7M | 26.5M | 25.3M | 22.8M | 20.6M | 18.2M | 13.7M | 11.5M | 11.5M | 6.9M |
| Current ratio | 0.15 | 0.06 | 0.21 | 0.22 | 0.27 | 0.22 | 0.20 | 0.24 | 0.27 | 0.26 |
| Quick ratio | 0.15 | 0.06 | 0.21 | 0.22 | 0.27 | 0.22 | 0.20 | 0.24 | 0.27 | 0.26 |
| Debt / equity | 0.61 | 0.60 | 0.99 | 0.96 | 0.43 | 0.26 | 0.65 | 0.35 | 0.45 | 0.47 |
| Equity / assets | 10.9% | 10.2% | 9.8% | 9.7% | 9.2% | 9.9% | 12.5% | 12.4% | 13.6% | 10.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.62B | $1.21B | $1.00B | $446.8M | $1.05B | $344.8M | $347.8M | $1.13B | $1.08B | $1.06B | $1.11B | $1.04B |
| Cash & equivalents | $575.6M | $589.8M | $411.2M | $399.1M | $495.8M | $312.9M | $319.1M | $213.2M | $208.1M | $185.9M | $226.1M | $191.5M |
| Short-term investments | $1.04B | $621.7M | $590.9M | $47.7M | $550.6M | $31.9M | $28.7M | $916.1M | $875.0M | $872.9M | $879.6M | $849.7M |
| Receivables | $39.0M | $38.2M | $38.5M | $37.2M | $36.7M | $33.7M | $35.9M | $32.5M | $30.6M | $29.3M | $29.9M | $28.1M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$443.4M | −$4.94B | −$5.47B | −$4.76B | −$417.7M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $443.4M | $4.94B | $5.47B | $4.76B | $417.7M |
| Total current assets | $614.6M | $1.25B | $1.04B | $484.0M | $1.08B | $378.5M | $383.6M | $1.16B | $1.11B | $1.09B | $1.14B | $1.07B |
| Property, plant & equipment (net) | $88.9M | $88.4M | $74.0M | $77.9M | $79.0M | $81.6M | $82.0M | $67.6M | $68.5M | $68.7M | $69.5M | $64.7M |
| Goodwill & intangible assets | $168.5M | $163.0M | $135.6M | $136.3M | $136.9M | $138.2M | $138.8M | $101.9M | $102.4M | $102.9M | $100.3M | $100.8M |
| Long-term investments | $642.7M | $661.8M | $640.3M | $92.0M | $599.4M | $961.5M | $934.6M | $955.6M | $913.9M | $907.8M | $913.5M | $882.3M |
| Other non-current assets | $7.39B | $6.74B | $6.32B | $7.16B | $6.05B | $6.22B | $6.32B | $4.60B | $4.51B | $4.53B | $4.37B | $4.37B |
| Total assets | $8.90B | $8.91B | $8.21B | $7.95B | $7.95B | $7.78B | $7.86B | $6.89B | $6.70B | $6.70B | $6.58B | $6.49B |
| Liabilities | ||||||||||||
| Accounts payable | $3.8M | $3.7M | $4.2M | $4.1M | $4.8M | $5.4M | $6.0M | $3.8M | $4.5M | $3.9M | $14.8M | $11.2M |
| Short-term debt | $295.5M | $54.7M | $278.8M | $183.1M | $273.2M | $91.1M | $22.6M | $21.5M | $18.4M | $17.2M | $18.9M | $23.3M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$4.5M | −$3.9M | −$14.8M | — |
| Total current liabilities | $299.3M | $7.52B | $6.98B | $6.69B | $6.70B | $6.55B | $6.54B | $5.67B | $5.59B | $5.59B | $5.28B | $5.23B |
| Long-term debt | $301.3M | $329.8M | $272.5M | $311.8M | $339.9M | $343.0M | $460.6M | $472.0M | $410.1M | $413.1M | $616.2M | $619.2M |
| Other long-term liabilities | $7.32B | $62.5M | $63.7M | $69.6M | $62.2M | $60.8M | $57.1M | $50.9M | $42.6M | $39.5M | $41.6M | $40.0M |
| Total liabilities | $7.89B | $7.92B | $7.32B | $7.08B | $7.10B | $6.96B | $7.06B | $6.19B | $6.04B | $6.05B | $5.94B | $5.88B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $32.5M | $32.6M | $29.5M | $29.6M | $29.6M | $29.6M | $29.6M | $25.5M | $25.5M | $25.5M | $25.4M | $25.3M |
| Retained earnings (deficit) | $361.8M | $343.9M | $326.6M | $310.0M | $292.6M | $276.0M | $261.0M | $250.0M | $237.0M | $224.7M | $216.1M | $205.2M |
| Accumulated other comprehensive income | −$35.8M | −$37.9M | −$33.3M | −$36.4M | −$47.8M | −$52.8M | −$63.0M | −$46.1M | −$67.8M | −$71.6M | −$66.6M | −$94.2M |
| Total shareholders' equity | $1.01B | $991.2M | $896.9M | $878.4M | $848.4M | $826.3M | $799.5M | $699.5M | $664.5M | $649.0M | $644.3M | $604.4M |
| Key figures | ||||||||||||
| Total debt | $616.1M | $384.5M | $551.4M | $494.9M | $613.1M | $434.1M | $483.3M | $493.5M | $428.5M | $430.3M | $635.1M | $642.5M |
| Net cash (debt) | $1.00B | $827.0M | $450.8M | −$48.1M | $433.3M | −$89.3M | −$135.5M | $635.7M | $654.6M | $628.5M | $470.6M | $398.7M |
| Working capital | $315.3M | −$6.27B | −$5.94B | −$6.21B | −$5.61B | −$6.18B | −$6.16B | −$4.50B | −$4.47B | −$4.51B | −$4.15B | −$4.16B |
| Tangible book value | $840.1M | $828.2M | $761.2M | $742.2M | $711.5M | $688.1M | $660.6M | $597.7M | $562.2M | $546.1M | $544.0M | $503.6M |
| Book value per share | $30.76 | $30.23 | $30.24 | $29.62 | $28.72 | $27.97 | $27.08 | $27.50 | $26.17 | $25.52 | $25.43 | $23.90 |
| Shares outstanding | 32.8M | 32.8M | 29.7M | 29.7M | 29.5M | 29.5M | 29.5M | 25.4M | 25.4M | 25.4M | 25.3M | 25.3M |
| Current ratio | 2.05 | 0.17 | 0.15 | 0.07 | 0.16 | 0.06 | 0.06 | 0.21 | 0.20 | 0.19 | 0.21 | 0.20 |
| Quick ratio | 5.53 | 0.17 | 0.15 | 0.07 | 0.16 | 0.06 | 0.06 | 0.21 | 0.20 | 0.19 | 0.21 | 0.20 |
| Debt / equity | 0.61 | 0.39 | 0.61 | 0.56 | 0.72 | 0.53 | 0.60 | 0.71 | 0.64 | 0.66 | 0.99 | 1.06 |
| Equity / assets | 11.3% | 11.1% | 10.9% | 11.0% | 10.7% | 10.6% | 10.2% | 10.2% | 9.9% | 9.7% | 9.8% | 9.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
BFST financial position
At the end of fiscal 2025 (December 31, 2025), Business First Bancshares had total assets of $8.2 billion (up 4.6% from a year earlier), total liabilities of $7.3 billion and shareholders' equity of $896.9 million. It held $1.0 billion in cash and short-term investments against $551.4 million of debt, a net cash position of $450.8 million. Its current ratio was 0.15. In the latest quarter (ended June 30, 2026) total assets were $8.9 billion and equity $1.0 billion.
Related: BFST income statement, BFST cash flow statement, BFST key metrics. See the BFST stock overview for the latest quote and news.
BFST balance sheet FAQ
What are Business First Bancshares's total assets?
Business First Bancshares reported total assets of $8.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $7.9 billion a year earlier.
How much debt does Business First Bancshares have?
Business First Bancshares had $551.4 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.61.
How much cash does Business First Bancshares have?
Business First Bancshares held $1.0 billion in cash and short-term investments at the end of fiscal 2025; with $551.4 million of debt that is net cash of $450.8 million.
What is Business First Bancshares's book value?
Business First Bancshares's shareholders' equity (book value) was $896.9 million at the end of fiscal 2025, or $30.24 per share.
What is Business First Bancshares's current ratio?
Business First Bancshares had current assets of $1.0 billion and current liabilities of $7.0 billion, a current ratio of 0.15 (current liabilities exceed current assets).
How much goodwill does Business First Bancshares have?
Business First Bancshares carried $135.6 million of goodwill and intangible assets, 1.7% of total assets, at the end of fiscal 2025.