Business First Bancshares Inc
For the period ended Dec 31, 2023. Filed Mar 1, 2024.
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FY2023 · Filed Mar 1, 2024
BFST$32.73-0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash Flows From Operating Activities: | |||
| Consolidated Net Income | $71,043 | $54,255 | $52,136 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | |||
| Provision for Credit Losses | 4,483 | 10,886 | 8,047 |
| Depreciation and Amortization | 4,670 | 4,818 | 4,163 |
| Net Accretion of Purchase Accounting Adjustments | (7,615) | (7,949) | (7,122) |
| Stock Based Compensation Cost | 3,999 | 3,696 | 2,861 |
| Net Amortization of Securities | 4,197 | 6,005 | 7,021 |
| (Gain) Loss on Sales of Securities | 2,565 | 48 | (378) |
| Gain on Sale Loans | (671) | (398) | (9,179) |
| Income on Other Equity Securities | (3,045) | (1,554) | (2,399) |
| (Gain) Loss on Sale of Other Real Estate Owned, Net of Writedowns | (214) | 92 | 1,404 |
| Increase in Cash Value of Life Insurance | (2,247) | (1,931) | (1,396) |
| Deferred Income Tax Expense (Benefit) | (2,052) | (1,368) | 586 |
| Gain on Sale of Branch | (945) | - | (492) |
| Changes in Assets and Liabilities: | |||
| (Increase) Decrease in Accrued Interest Receivable | (4,250) | (3,466) | 4,298 |
| (Increase) Decrease in Other Assets | (1,683) | 6,075 | (3,500) |
| Increase (Decrease) in Accrued Interest Payable | 12,749 | 519 | (1,145) |
| Increase (Decrease) in Other Liabilities | 11,443 | (151) | 1,538 |
| Net Cash Provided by Operating Activities | 92,427 | 69,577 | 56,443 |
| Cash Flows From Investing Activities: | |||
| Purchases of Securities Available for Sale | (131,038) | (102,809) | (528,059) |
| Proceeds from Maturities / Sales of Securities Available for Sale | 91,981 | 38,951 | 29,945 |
| Proceeds from Paydowns of Securities Available for Sale | 53,916 | 95,019 | 96,408 |
| Net Cash Received (Paid) in Acquisition | - | 163,460 | (7,256) |
| Net Cash Paid in Sale of Branch | (14,506) | - | (13,727) |
| Purchases of Other Equity Securities | (15,573) | (22,670) | (4,438) |
| Redemption of Other Equity Securities | 21,361 | 10,327 | 2,575 |
| Purchase of Life Insurance | (2,273) | (18,000) | (15,928) |
| Proceeds from Death Benefit of Cash Value of Life Insurance | - | 499 | 1,974 |
| Proceeds from Sale of SBA PPP Loans | - | - | 243,607 |
| Net Increase in Loans | (379,073) | (1,070,354) | (431,236) |
| Net Purchases of Premises and Equipment | (11,648) | (7,781) | (3,971) |
| Loss on Disposal of Premises and Equipment | - | 717 | 4 |
| Proceeds from Sales of Other Real Estate | 1,240 | 682 | 7,640 |
| Net (Increase) Decrease in Federal Funds Sold | (135,528) | 211,438 | (52,892) |
| Net Cash Used in Investing Activities | (521,141) | (700,521) | (675,354) |
(CONTINUED)
| Years Ended December 31, | |||||
|---|---|---|---|---|---|
| 2023 · 2022 · 2021 | |||||
| Cash Flows From Financing Activities: | |||||
| Net Increase in Deposits | 444,780 | 265,827 | 480,124 | ||
| Net Increase (Decrease) in Securities Sold Under Agreements to Repurchase | (1,323) | 1,087 | (2,704) | ||
| Net Increase (Decrease) in Federal Funds Purchased | (14,057) | 14,057 | - | ||
| Net Advances (Repayments) on Federal Home Loan Bank Borrowings | (198,902) | 327,203 | 39,022 | ||
| Net Proceeds on Bank Term Funding Program | 300,000 | - | - | ||
| Net Proceeds (Repayments) from Short Term Borrowings | - | (11) | (5,000) | ||
| Net Repayments from Long Term Borrowings | - | - | (6,000) | ||
| Proceeds from Issuance of Subordinated Debt | - | - | 52,500 | ||
| Repayment of Subordinated Debt | (8,900) | - | - | ||
| Gain on Extinguishment of Debt | (1,458) | - | - | ||
| Proceeds from Issuance of Preferred Stock, Net of Issuance Costs | - | 71,930 | - | ||
| Proceeds from Issuance of Common Stock, Net of Issuance Costs | - | 48,492 | 3,564 | ||
| Surrendered Shares of Options Exercised | - | (1,102) | (2,992) | ||
| Repurchase of Common Stock | - | - | (10,923) | ||
| Payment of Dividends on Preferred Stock | (5,401) | (1,350) | - | ||
| Payment of Dividends on Common Stock | (12,655) | (10,824) | (9,436) | ||
| Net Cash Provided by Financing Activities | 502,084 | 715,309 | 538,155 | ||
| Net Increase (Decrease) in Cash and Cash Equivalents | 73,370 | 84,365 | (80,756) | ||
| Cash and Cash Equivalents at Beginning of Period | 152,740 | 68,375 | 149,131 | ||
| Cash and Cash Equivalents at End of Period | $226,110 | $152,740 | $68,375 | ||
| Supplemental Disclosures for Cash Flow Information: | |||||
| Cash Payments for: | |||||
| Interest on Deposits | $104,811 | $23,846 | $13,249 | ||
| Interest on Borrowings | $20,638 | $11,953 | $4,450 | ||
| Income Tax Payments | $16,095 | $13,550 | $15,711 | ||
| Supplemental Schedule for Noncash Investing and Financing Activities: | |||||
| Change in the Unrealized Gain (Loss) on Securities Available for Sale | $10,441 | $(93,466) | $(14,607) | ||
| Change in the Unrealized Gain (Loss) on Equity Securities | $(782) | $874 | $(336) | ||
| Change in Deferred Tax Effect on the Unrealized (Gain) Loss on Securities Available for Sale and Equity Securities | $(2,040) | $19,565 | $3,138 | ||
| Transfer of Loans to Other Real Estate | $1,339 | $719 | $1,420 | ||
| Acquisitions: | |||||
| Fair Value of Tangible Assets Acquired | $ | - | $531,510 | $1,343 | |
| Other Intangible Assets Acquired | - | 3,875 | 4,300 | ||
| Liabilities Assumed | - | 508,991 | 6 | ||
| Net Identifiable Assets Acquired Over Liabilities Assumed | $ | - | $26,394 | $5,637 | |
| Subordinated Debt Issued as Part of Consideration of Smith Shellnut Wilson | $ | - | $ | - | $3,927 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.