2023 Q2 Form 10-Q Financial Statement

#000143774923012485 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $2.413M $2.281M $44.12M
YoY Change -95.53% -94.83% -0.32%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.190M $1.187M $1.110M
YoY Change -1.57% 6.94% 7.77%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $32.52M $26.74M $3.647M
YoY Change 630.5% 633.29% -7.93%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $25.04M $19.24M $11.03M
YoY Change 45.26% 74.33% -26.74%
Income Tax $5.305M $4.211M $2.303M
% Of Pretax Income 21.18% 21.89% 20.87%
Net Earnings $19.74M $15.03M $8.731M
YoY Change 43.48% 72.09% -29.18%
Net Earnings / Revenue 818.03% 658.7% 19.79%
Basic Earnings Per Share $0.73 $0.55 $0.42
Diluted Earnings Per Share $0.73 $0.54 $0.41
COMMON SHARES
Basic Shares Outstanding 25.32M 25.11M 21.02M
Diluted Shares Outstanding 25.33M 25.22M 21.16M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $181.0M $159.8M $282.1M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $63.04M $64.07M $63.00M
YoY Change -1.97% 1.69% 8.76%
Goodwill $88.54M $88.54M $89.91M
YoY Change -0.34% -1.52% 67.27%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $31.60M $28.68M $23.00M
YoY Change 6.84% 24.7% 318.18%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $6.455B $6.290B $5.362B
YoY Change 16.71% 17.3% 20.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.700M $3.513M $900.0K
YoY Change 987.57% 290.33% -52.63%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $23.20M $31.30M $23.40M
YoY Change -1.26% 33.76% 9.35%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.90M $34.81M $900.0K
YoY Change 4264.41% 3768.11% -52.63%
LONG-TERM LIABILITIES
Long-Term Debt $408.8M $425.6M $116.2M
YoY Change 252.25% 266.26% 40.85%
Other Long-Term Liabilities $37.30M $30.57M $27.20M
YoY Change 14.8% 12.39% -6.85%
Total Long-Term Liabilities $446.1M $456.2M $143.4M
YoY Change 200.31% 218.11% 28.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.90M $34.81M $900.0K
Total Long-Term Liabilities $446.1M $456.2M $143.4M
Total Liabilities $5.854B $5.692B $4.905B
YoY Change 15.12% 16.04% 21.82%
SHAREHOLDERS EQUITY
Retained Earnings $189.1M $173.8M $128.2M
YoY Change 35.83% 35.57% 43.3%
Common Stock $421.2M $420.0M $368.4M
YoY Change 14.16% 14.0% 14.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $601.0M $597.7M $456.8M
YoY Change
Total Liabilities & Shareholders Equity $6.455B $6.290B $5.362B
YoY Change 16.71% 17.3% 20.67%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $19.74M $15.03M $8.731M
YoY Change 43.48% 72.09% -29.18%
Depreciation, Depletion And Amortization $1.190M $1.187M $1.110M
YoY Change -1.57% 6.94% 7.77%
Cash From Operating Activities $25.80M $22.94M $19.46M
YoY Change 43.02% 17.86% 7.77%
INVESTING ACTIVITIES
Capital Expenditures $160.0K $2.075M $3.899M
YoY Change -106.37% -46.78% 959.51%
Acquisitions
YoY Change
Other Investing Activities -$150.6M -$287.3M $96.10M
YoY Change -52.19% -399.0% -215.37%
Cash From Investing Activities -$150.8M -$289.4M $92.20M
YoY Change -52.51% -413.91% -210.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 146.2M $273.5M $102.0M
YoY Change -15.07% 168.03% -62.45%
NET CHANGE
Cash From Operating Activities 25.80M $22.94M $19.46M
Cash From Investing Activities -150.8M -$289.4M $92.20M
Cash From Financing Activities 146.2M $273.5M $102.0M
Net Change In Cash 21.20M $7.027M $213.7M
YoY Change -116.64% -96.71% 3.67%
FREE CASH FLOW
Cash From Operating Activities $25.80M $22.94M $19.46M
Capital Expenditures $160.0K $2.075M $3.899M
Free Cash Flow $25.64M $20.86M $15.56M
YoY Change 24.76% 34.06% -12.02%

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CY2022Q1 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
-10402000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6206000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-38577000 usd
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
21231000 usd
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-29846000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
433368000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
8731000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-38577000 usd
CY2022Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2437000 usd
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
54995000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
757000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
456837000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
580481000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
15025000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6206000 usd
CY2023Q1 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
1350000 usd
CY2023Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
3042000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
1197000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
597690000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
15025000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
8731000 usd
CY2023Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
3222000 usd
CY2022Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1617000 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1187000 usd
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1110000 usd
CY2023Q1 bfst Business Acquisition Amortization Accretion Fair Market Value Adjustments
BusinessAcquisitionAmortizationAccretionFairMarketValueAdjustments
-2540000 usd
CY2022Q1 bfst Business Acquisition Amortization Accretion Fair Market Value Adjustments
BusinessAcquisitionAmortizationAccretionFairMarketValueAdjustments
-552000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1197000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
757000 usd
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1160000 usd
CY2022Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1703000 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-1000 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-31000 usd
CY2023Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
161000 usd
CY2022Q1 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
65000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
420000 usd
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
12000 usd
CY2023Q1 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
209000 usd
CY2022Q1 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
8000 usd
CY2023Q1 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
524000 usd
CY2022Q1 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
370000 usd
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1073000 usd
CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-345000 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-220000 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-2054000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2386000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-5587000 usd
CY2023Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
1421000 usd
CY2022Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-678000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-100000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-98000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
22938000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
19462000 usd
CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
30236000 usd
CY2022Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
46314000 usd
CY2023Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
6625000 usd
CY2022Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
26351000 usd
CY2023Q1 bfst Proceeds From Repayments Of Investment Securities Available For Sale
ProceedsFromRepaymentsOfInvestmentSecuritiesAvailableForSale
17258000 usd
CY2022Q1 bfst Proceeds From Repayments Of Investment Securities Available For Sale
ProceedsFromRepaymentsOfInvestmentSecuritiesAvailableForSale
29348000 usd
CY2023Q1 bfst Cash Acquired From Paid For Acquisition
CashAcquiredFromPaidForAcquisition
0 usd
CY2022Q1 bfst Cash Acquired From Paid For Acquisition
CashAcquiredFromPaidForAcquisition
163460000 usd
CY2023Q1 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
11351000 usd
CY2022Q1 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
386000 usd
CY2023Q1 bfst Redemption Of Other Equity Securities
RedemptionOfOtherEquitySecurities
12365000 usd
CY2022Q1 bfst Redemption Of Other Equity Securities
RedemptionOfOtherEquitySecurities
35000 usd
CY2023Q1 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
2273000 usd
CY2022Q1 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
-0 usd
CY2023Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
192107000 usd
CY2022Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
236533000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2075000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3899000 usd
CY2023Q1 bfst Loss On Disposal Of Property Plant And Equipment
LossOnDisposalOfPropertyPlantAndEquipment
0 usd
CY2022Q1 bfst Loss On Disposal Of Property Plant And Equipment
LossOnDisposalOfPropertyPlantAndEquipment
717000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
1026000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
196000 usd
CY2023Q1 us-gaap Increase Decrease In Federal Funds Sold
IncreaseDecreaseInFederalFundsSold
-88644000 usd
CY2022Q1 us-gaap Increase Decrease In Federal Funds Sold
IncreaseDecreaseInFederalFundsSold
159222000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-289412000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
92197000 usd
CY2023Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-14167000 usd
CY2022Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
103241000 usd
CY2023Q1 us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
-3539000 usd
CY2022Q1 us-gaap Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
4224000 usd
CY2023Q1 us-gaap Increase Decrease In Federal Funds Purchased
IncreaseDecreaseInFederalFundsPurchased
-565000 usd
CY2022Q1 us-gaap Increase Decrease In Federal Funds Purchased
IncreaseDecreaseInFederalFundsPurchased
-0 usd
CY2023Q1 bfst Net Repayments Advances Of Federal Home Loan Bank Borrowings
NetRepaymentsAdvancesOfFederalHomeLoanBankBorrowings
-14966000 usd
CY2022Q1 bfst Net Repayments Advances Of Federal Home Loan Bank Borrowings
NetRepaymentsAdvancesOfFederalHomeLoanBankBorrowings
-2940000 usd
CY2023Q1 bfst Proceeds From Secured Loan Under Bank Term Funding Program
ProceedsFromSecuredLoanUnderBankTermFundingProgram
310000000 usd
CY2022Q1 bfst Proceeds From Secured Loan Under Bank Term Funding Program
ProceedsFromSecuredLoanUnderBankTermFundingProgram
0 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-48000 usd
CY2023Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
1350000 usd
CY2022Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
-0 usd
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3042000 usd
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2437000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
273501000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
102040000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7027000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
213699000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
152740000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
68375000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
159767000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
282074000 usd
CY2023Q1 bfst Interest On Deposits
InterestOnDeposits
18015000 usd
CY2022Q1 bfst Interest On Deposits
InterestOnDeposits
2771000 usd
CY2023Q1 bfst Interest Paid On Borrowings Net
InterestPaidOnBorrowingsNet
7307000 usd
CY2022Q1 bfst Interest Paid On Borrowings Net
InterestPaidOnBorrowingsNet
1335000 usd
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
12000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
8002000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-48954000 usd
CY2023Q1 bfst Oci Equity Securities Availableforsale Unrealized Holding Gain Loss Before Adjustment And Tax
OciEquitySecuritiesAvailableforsaleUnrealizedHoldingGainLossBeforeAdjustmentAndTax
-134000 usd
CY2022Q1 bfst Oci Equity Securities Availableforsale Unrealized Holding Gain Loss Before Adjustment And Tax
OciEquitySecuritiesAvailableforsaleUnrealizedHoldingGainLossBeforeAdjustmentAndTax
-25000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-1662000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
10402000 usd
CY2023Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
810000 usd
CY2022Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
130000 usd
CY2023Q1 bfst Noncash Or Part Noncash Acquisition Identifiable Assets Acquired
NoncashOrPartNoncashAcquisitionIdentifiableAssetsAcquired
0 usd
CY2022Q1 bfst Noncash Or Part Noncash Acquisition Identifiable Assets Acquired
NoncashOrPartNoncashAcquisitionIdentifiableAssetsAcquired
530353000 usd
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
0 usd
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
3875000 usd
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
0 usd
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
509202000 usd
CY2023Q1 bfst Noncash Or Part Noncash Acquisition Assets Acquired Liabilities Assumed
NoncashOrPartNoncashAcquisitionAssetsAcquiredLiabilitiesAssumed
0 usd
CY2022Q1 bfst Noncash Or Part Noncash Acquisition Assets Acquired Liabilities Assumed
NoncashOrPartNoncashAcquisitionAssetsAcquiredLiabilitiesAssumed
25026000 usd
CY2023Q1 us-gaap Reclassifications
Reclassifications
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Note <em style="font: inherit;">2</em> </b>–<b> Reclassifications </b>–</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 15pt;">Certain reclassifications <em style="font: inherit;"> may </em>have been made to conform to the classifications adopted for reporting in <em style="font: inherit;">2023.</em> These reclassifications have <em style="font: inherit;">no</em> material effect on previously reported shareholders’ equity or net income.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"/>
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
15025000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
8731000 usd
CY2023Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1350000 usd
CY2022Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13675000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
8731000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24979955
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21019716
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
242353
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
142766
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25222308
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21162482
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.55
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.42
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.54
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.41
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
990792000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
616000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
87463000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
903945000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
985599000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
303000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
95151000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
890751000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
159169000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
8730000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
699466000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
78733000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
858635000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
87463000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
312398000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
20007000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
505752000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
75144000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
818150000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
95151000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
26354000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
25867000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveAmortizedCostBasis
230411000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
217915000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenAmortizedCostBasis
370113000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenFairValue
334796000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling After Year Ten Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingAfterYearTenAmortizedCostBasis
363914000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Rolling After Year Ten Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingAfterYearTenFairValue
325367000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
990792000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
903945000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
3700000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
4400000 usd
CY2023Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
4803060000 usd
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4606176000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
41830000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
38178000 usd
CY2023Q1 us-gaap Notes Receivable Net
NotesReceivableNet
4761230000 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
4567998000 usd
CY2023Q1 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
13600000 usd
CY2022Q4 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
13100000 usd
CY2023Q1 bfst Loans And Leases Receivable Reclassified From Overdraft
LoansAndLeasesReceivableReclassifiedFromOverdraft
884000 usd
CY2022Q4 bfst Loans And Leases Receivable Reclassified From Overdraft
LoansAndLeasesReceivableReclassifiedFromOverdraft
2000000.0 usd
CY2023Q1 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
717100000 usd
CY2022Q4 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
683300000 usd
CY2023Q1 us-gaap Servicing Asset
ServicingAsset
1600000 usd
CY2022Q4 us-gaap Servicing Asset
ServicingAsset
1700000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
38178000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
2278000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
103000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
3167000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
41830000 usd
CY2022Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
605000 usd
CY2023Q1 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
55000 usd
CY2023Q1 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
3857000 usd
CY2023Q1 bfst Financing Receivable Allowance For Credit Loss And Offbalancesheet And Unfunded Loan Commitments
FinancingReceivableAllowanceForCreditLossAndOffbalancesheetAndUnfundedLoanCommitments
45687000 usd
CY2023Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
7452000 usd
CY2023Q1 bfst Financing Receivables Allowance For Credit Losses Individually Evaluated For Impairment
FinancingReceivablesAllowanceForCreditLossesIndividuallyEvaluatedForImpairment
2311000 usd
CY2023Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
12086000 usd
CY2023Q1 bfst Financing Receivables Allowance For Credit Losses Individually Evaluated For Impairment
FinancingReceivablesAllowanceForCreditLossesIndividuallyEvaluatedForImpairment
4210000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
29112000 usd
CY2022 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
2821000 usd
CY2022 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1001000 usd
CY2022 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
10886000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
38178000 usd
CY2022Q4 bfst Financing Receivables Allowance For Credit Losses Individually Evaluated For Impairment
FinancingReceivablesAllowanceForCreditLossesIndividuallyEvaluatedForImpairment
2214000 usd
CY2022Q4 bfst Financing Receivables Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivablesAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
35964000 usd
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4606176000 usd
CY2022Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
14707000 usd
CY2022Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
4541682000 usd
CY2023Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
4803060000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
2278000 usd
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4606176000 usd
CY2023Q1 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
127000 usd
CY2022Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
335000 usd
CY2023Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
17000000.0 usd
CY2022Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
11100000 usd
CY2023Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
4803060000 usd
CY2023Q1 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
127000 usd
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4606176000 usd
CY2022Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
335000 usd
CY2023Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
16952000 usd
CY2023Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
18088000 usd
CY2022Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
11054000 usd
CY2023Q1 bfst Financing Receivable Accrued Interest Receivable Loans Deferrals
FinancingReceivableAccruedInterestReceivableLoansDeferrals
5100000 usd
CY2022Q4 bfst Financing Receivable Accrued Interest Receivable Loans Deferrals
FinancingReceivableAccruedInterestReceivableLoansDeferrals
5400000 usd
CY2023Q1 bfst Financing Receivable Accrued Interest
FinancingReceivableAccruedInterest
21700000 usd
CY2022Q4 bfst Financing Receivable Accrued Interest
FinancingReceivableAccruedInterest
21200000 usd
CY2023Q1 bfst Advances From Federal Home Loan Banks Net Of Unaccreted Market Value Adjustment
AdvancesFromFederalHomeLoanBanksNetOfUnaccretedMarketValueAdjustment
395100000 usd
CY2022Q4 bfst Advances From Federal Home Loan Banks Net Of Unaccreted Market Value Adjustment
AdvancesFromFederalHomeLoanBanksNetOfUnaccretedMarketValueAdjustment
410100000 usd
CY2023Q1 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Amount Of Available Unused Funds
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAmountOfAvailableUnusedFunds
1400000000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
1400000 usd
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
881000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y10M24D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0264 pure
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3098000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3761000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2735000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2182000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2065000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4298000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
18139000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1407000 usd
CY2023Q1 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
3900000 usd
CY2022Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
605000 usd
CY2022Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2022Q3 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
72000000.0 usd
CY2022Q3 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0750 pure
CY2023Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
18.75

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