BFST - Earnings call transcript Q3 2024 | Business First Bancshares, Inc.

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Operator

Good day, everyone, and welcome to the Business First Bancshares Q3 2024 Earnings Call.

Just a reminder that today's call is being recorded. At this time, I would like to hand things over to Mr. Matt Sealy, Senior Vice President, Director of Corporate Strategy and FP&A. Please go ahead, sir.

Matthew Sealy

you joining. thank and afternoon, everyone for Good we'll Earlier press is release, issued our presentation available today's XXXX earnings third quarter that slide a the our along today, to website, during call. we on with refer copy of which

to our presentation, Slide harbor our which non-GAAP these of statements forward-looking regarding and X financial refer includes safe Please statements measures.

statements by website are slide presentation our on our at For of Please press the safe on our those SEC is release filed available note harbor of Page X that phone, please you with note www.bninc.com. joining today. also earnings available the was

Bancshares turn Robertson; presentation, questions Greg After during may with All Jerry. and Banking President Melville; Jude Financial address and made harbor Jordan; release. you, and statements any to Officer; subject I'll our Philip Chief call today's Chief comments First BX to earnings And you the President Bank, afternoon of safe Jude. Chairman, call Officer, are this I'm the we'll CEO; presentation have. slide over joined in happy Business to by be the that,

David Melville

and investments were calls. $X of quarter, our while quarterly the to as of . I expansion Okay. the sure appreciate say to a in in you making Thanks, interest begin, we everyone through everybody. Primary afternoon, be previous we detailed you know to technological or to brief linked I'd that margin operating combination can the call on quarter today. theme like to the the transcripts relatively rereading us you straightforward in to at currently We the improvement some million expense it and thank highlight down is future. to and want make or was even Matt, listening positive. Expenses and a we choices generally continued make, continue I about good be control. net To point priority achieved have

increased quarter linked new roughly renewed XX down yields basis point deposit Our costs basis margin to portfolio X.XX%. points X loans steady flat with by as X.XX% core at expanded aggregate faired loan driven held quarter pricing and linked

like of our the the sources income, asset to steps. and investments nascent of of swap diversification over couple our including our and past we've provider, the highlight management I'd thing internal made years. SSW SBA Secondary noninterest continued Carterstone, revenue Fit company, loan service is Group our from

while aggregate positive A new Page chart explains shift we over the in that incrementally the on of income of quarter-to-quarter. components impact has sources And is increased and been course the primary that pleased XX of to consistently that income. expect We're XXXX. the

deposits assets risk discipline than AOCI leading Third, movement. increased our a balance appropriately loans management again, faster growing we value tangible the and of growth even levels capital demonstrated book between while of outside of in to in at sheet, also line the rate impact earnings growing positive

we've loan the and groundwork teams. favorably believe due positioning NIM continued the incremental anticipate in the this hard to our positioned current considered our of rate We and in and the outlook on improvement deposit banking portfolios

to value just adding the of the topic broader franchise a on Finally, beyond numbers.

professional thank on for in Thank Oakwood to energy markets the and Dallas percentage book. reviewing our of the you a the pleased mid-XXs their also loan merger are in a exposure positivity October Okla and their partners the to for and successfully manner. asset the overall the timely transaction close our of you and to to Houston the team bringing regulatory We as percentage X,

constituencies. before us and us extensive we'll before regional of the team. President promotion Jerry opportunities to had made a our banks years growing couple for impact billion career of an and proactively. coming asset performance coordinated $XX believe certain an interaction main transition be We that closer to has we level, in the even our to a want to also already We we we while we sure announced the external position CEO. that and be bank want with joining important move we Chair are expand recently To of Jerry the our to with have serving operations with positioning years, continue to we many a be especially internal as approach

I'd call Greg on calling that, With further you by for another detail. for finance. now -- . our successful again congratulating the our close thank quarter. I loyal over And in. to like and team I'll to turn

Gregory Robertson

Thank afternoon, you, Jude, everyone. good and

and on and net The expense million a pretax EPS of GAAP quarter a loss per on $XX,XXX XXX,XXX shareholders share included pretax $XX.X acquisition-related $XXX,XXX securities. was conversion-related $X.XX sale third income and common expense. available to pretax

EPS item, $XX.X Excluding income and was $X.XX noncore common million, available per non-GAAP core share. shareholders net to and this

margin spent. As income going had with represents Jude moving conclude did I'll in come lower while overall QX run we rate forward. than expected, the and on like solid then the expenses mentioned, we an the for balance feel to sheet start

estate the the growth and $XX.X Total growth banks loans portfolio net attributable the in to increased portfolio. of -- by million during strong during note, production quarter. largely in remains third million quarter. from should C&D Loan or linked pipeline annualized to net growth increased participating X.X% as held investment $XX.X our very the sold we commercial loans for I million $XX $XX.X in to third was quarter the real approximately million

of Louisiana Based portfolio and from X accounted Production net Texas-based approximately was growth the loans of our Orleans September represent loan which unpaid for principal quarter. XX% region XX. led linked quarters by balances, region, approximately the on overall New our as North of

total Jude X.X% balances $XXX Total $XX.X increased net in Oakwood as deposits the million contribute Texas annualized mentioned, million to bringing loans, loan And or XX%. to approximately we quarter-over-quarter. expect as

of by million $XXX linked During drove in the quarter. compared accounts accounts million quarter noninterest-bearing to offset interest-bearing September ended XX, the increase and growth, in reduction $XXX.X the

in with our $XX money $XX in in of in the reduction quarter. new production strong was in approximately clients to The increase in attributable increase X generated largely that, accounts noninterest-bearing spite market make to $XXX deposits million The accounts. deposits the that million accounts in interest-bearing approximately new production-related million up isolated is with remained

money range. average market from declined to year in XX.X% at expectations down represent beginning the quarter by deposits points from the remains in XXXX XX end of weighted of noninterest-bearing in to of the basis with deposits X.XX%. total linked linked September the quarter The our of XX, low Total the X.XX% XX.X% line rate as portfolio XX% in and the year

Our net of in GAAP third benefited expectations. from which with consensus loan quarter our accretion, interest X.XX% margin line discount was in $XXX,XXX reported

expected, in the Core of there. in linked benefited point expansion repricing the renewed core NIM, quarter came A from moderated X.XX% context yield quarter basis excluding and Third accretion funding XX little strong NIM tailwinds pressures. and than continued higher we loan

average X.XX%. and September yields new Our $X.XX for renewed third at was the approximately at quarter a spot weighted loan end of the rate

to of good easing on new an noninterest-bearing total in by point we in will opportunity and September deposit term, retain deposit accounts. cut the Page with our basis is our our ability continue and environment. in reference rates, to the slide costs quarter-over-quarter declined X attract do presentation be in near with we While This a XX created slide to a interest summary direct interest lower expect rate funding your affected for beta to a earnings deposit but deposits to decline a assumptions cost attention

depicts slide to new range, is expansion deposit assuming should beta repricing static organic low into the total the in overall expect the we some betas sheet. growth. like to margin We be a on the in XX% which portfolio. a translate upside normal expansion XX% balance could to complement this feel assume be core We additional slide XX, should within single-digit NIM There which the loan opportunities following Page good to

over Page fixed billion of rate we in XX, of the X.X% impact approximately average, $XXX $X weighted a thing approximately of we million we on is addition approximately average at fourth have in loans would reprice floating we a to loans rate but would the next full in add see balance months you'll sheet, at quarter. just quarter I range. XX the also have weighted good X.XX%, have maturing low the during the impact the Last which X% expect As which

couple We to and and points $XXX,XXX be loan accretion average order we basis expect also continue discount a core range overall to to our $XXX,XXX to expect Edition. margin, approximately Oakwood of accretive Oakwood going to including forward,

income on statement. the to Moving

quarter $XX.X was not expense interest and expense and approximately million noninterest in hitting declined acquisition-related from several of $XXX,XXX benefited quarter. in quarter investments and salaries, $X.X GAAP included million of certain expense timing linked Core expense. million third of $XX.X Our rules the during $XXX,XXX for net conversion-related the

$XX the going for million expect of during and and current quarter Oakwood, a the forward. estimate expense to be of noninterest run approximately with view rate consensus fair somewhat reverse fourth a We'd good trend the the estimate impact to full this we

$XX,XXX quarter on income during in from Third formed noninterest a our and rate our did upward $XX.X our income business, as that going continue be a was income swap and loss our contribution better include quarter core and driven GAAP slightly than of the come did newly but we third for sale securities. results expected had in was million, customer Noninterest to run core as which QX investments with revenue the forward good season. quarter. noninterest generated an to to trajectory approximately view of noninterest expect will $XXX,XXX income We continue trend bumpy interest GAAP

presentation noninterest income that Page XX those slide investments additional we and our mentioned, a As color. summarizes Jude in earnings did provide on add

the of as product be used offerings. the the Lastly, Oakwood that noninterest addition to near increase income, will modest they additive get to in will overall term our be

to for remarks over my concludes that and And I'll it Jude. hand back today,

David Melville

good, and coming we're just to think improvement, the quarter, we a working Thanks, quarters. pleased that Again, incremental the well continue over Greg. and with solid day positioned we're

we for might conversation. questions and look I'll forward any that, the with . to that look So have

Operator

take Raymond We'll from question James. first Instructions] [Operator Michael Rose, our

Michael Rose

down. the see good Nice margin expansion the costs come on and deposit to

year. quarter, had expected mature brokered think as end the CDs that you last I recall, a to the of are bunch of by I guys

was think I it million last $XXX quarter.

be wanted XXX to much bit to and kind have the amount you the you second addition And the see at of quarter. Just a it be might the the remaining do how the then the core just kind end see updates what little quarter. think you was $X if -- Oakwood, would any previously there were by from in end of around accretion a expected the reaching million like about there. realize just the margin to of is tailwind expect of that third seems talked lower of had accretion that, wanted I that I the to embedded of

Gregory Robertson

renewals CD the first talked to term. we part. off you, we the go, in about maturities on CD as start in had we're the was as that had last The -- we -- I'll $XXX time isolating million and what retail Yes, the books the near answering far -- --

We have retention CD a been rate on and pulling solid fairly with that book above XX% through repricing.

XXX we instrumental pretty that tailwinds. there that, be of. feel us some that the by spoke we confident in second helping like are And quarter achieve So margin you feel do like will

David Melville

Michael, second I'll color in target jump kind XXX the little of bit in a in give of you of terms the quarter.

second run I referring you're core think the quarter rate. margin of XX to

obviously, things it of currently. couple So would within our would is a that a out appear what schedule service margin bit sustained ahead core much not could call little that sure of be how I I'm level. that There's

balance with manager about to we that larger reflected on there's the really and business There's that margin business couple that line currently there's basis clients in we attributed within number. direct of associated points income factoring core sheet that no that are a have. our interest have, product balances that So within balances set X-ish

they're bit And a if have. so, uncertain been quarter to the they That of going or around. past fortunately, is And a stick wildcard. we've

schedule are while So of XXX by caveat to currently margin, would ahead just year. with next it I that core we that. of QX hit

few of about clients couple points, points a to maybe a for basis related X There's of basis that that those folks. account

layer QX sooner, say, that's also there margin confident Now bit if all you but in -- and run of I'd couple piece very Oakwood kind all, around by hit we that of of that it. still a little accretive of next core can context another potentially year is so pre-Oakwood.So in that that the points rate basis

about CD point, last presentation, the within in depicts our And We the then QX point have, do in bullet CD to maturities Slide $XXX and XX the on lastly, on the the maturing. and of about kind of the which QX the million. Greg's upcoming portfolio new tune repricing

try rolling updating we'll forward. to that So keep that and

next So of you context see going can in quarters. kind the forward couple the of

Gregory Robertson

the We accretion And last Yes. we Oakwood regards Michael, transaction, has the with changed. closing. announced the time in to the interest your -- environment question the from gain rate

the all that marks that. in the process the and accretion on we're So of finalizing and

to working early be too on that. bit that, still still additive, in but our we're will little that. but on tell on own a So It

Michael Rose

is, to $XXX,XXX I quarter $XXX,XXX what is Oakwood with a heard. I But you're expecting think

Gregory Robertson

Yes, right. that's

Michael Rose

Perfect. Okay.

for in question Sorry X-part question. the the first

than on as did Slide follow-up. the as provision credit? NPLs go X give lower just came the expecting. general notice XX, worry to anything I up was I Saw there, did well. just at bit little and a mention was context bit Just some a But little looking any up overall thoughts and Can that you in about special

Gregory Robertson

I NPLs. with -- start will I'll say

guaranteed the we have the that's increase next loan So is with or really NPLs loan that SBA month so. attributable in to within that X should resolution

the with, book X X loans on the most loans, the of well. performance for is increase, those up we the that that in some we're resolution make that the of So credit think I example, credit within the due normalized just have increase past -- should as of impact what seeing

some seeing things. still So one-off

I think a think of in of with direct I be as the But not would watch we're credit that reflection probably normal it far impact foolish goes, list interest environment, to as say movement that rate majority the or is the that. more a environment. they're an

of degradation just no examples So major X we're and in portfolio, there. credit the seeing here

Operator

Matt Inc. Next Olney, is up Stephen .

Matt Olney

kind last bit. above slower ask little or a hearing peers to customers. a hear bank X. from are you're a like about . what the growth. saying, utilization what borrowers more little Want but over your rates Would we've the at to C&I looks seen week moved love still from love to what borrowers the we've just hear would quite seen of down loan your of specifically I bit what recently, bit kind than

Gregory Robertson

kind impacts Jerry Philip of in sheet being customers. X.X% I'll in or line talk The about balance then lately they're impact the of talking kind let and been what is of the the the about growth in chime with we've what with profitability. capital on I'll and seeing understanding of

that's we participating think quarter in mentioned, loans our worth And line. in did in $XX I So million the I banks of right to sell network. as

is pipeline a a place, we So in talk let and bit guys still I'll feel that. the like strong but little these good about

Unknown Executive

from the don't I know necessarily I that outlier and feedback. perspective Yes. too there's would say an that customer

for kind point is utilizing how of don't us. are this think of I the lines. a year-over-year loans see on the kind lot it of basis just a it's -- a far down. it's normal timing year where We as paying as a of are our Also, our clients

manifest some growth few this through . successful . Well, see to the that. that the customers -- some of months. last seeing offer kind We're that I But a to over core necessarily process. It's are of particularly outliers. been there really last of additional we're some year the couple in having season. don't nice -- nice kind So good It's pretty would I and embedded my second from seeing some of

Matt Olney

Thanks growth on for all fees. the the and the guess, Okay. going nice to fee on side, over loan Great. I quarter the another commentary

I think the swap quarter. the trends that it was strong maybe drove fees this

step I can any based of remarks, but little a think expect you kind prepared near volatile these the the be term. like in it quarter-to-quarter, back sounds off don't

this we right? from in that continue think third to saw quarter. Is the can it run grow You you rate that .

Gregory Robertson

in USDA million outlier That's million that second think on sale. from production really our was kind that you or quarter, $X.X of right. noninterest fee gain driven $X if by a And a in about income the

been do be that really the those in from like slide continue different to build the in said, So time. investment lines will continued expect over quarter. we're highlighting we it we've grow there this to but do business deck think for incrementally to We and shows us it you lumpy,

Unknown Executive

was going question. was It add. I good to a

it's swap good got it become One with and clients, we've with the business of product the applying clients. We've right a been is that good to think the things most particularly pleased about, rhythm more granular. I

detail XX slide at in the it's If out look the some trades you breaks swap there, that the quarter.

in think from quarter, I not third been way good see bankers with about most it what a can leveling pleased we ramp, So good is the lumpy our and of our over time gradual and out good a as it's kind in we've clients. fund

David Melville

I that think I swaps would also just add expect to quarter. the we for necessarily be don't every leader.

can multiple of know we little volatile One that a sources of more that be we've the in invest income. than traditional chosen so reasons our to spread that revenue,

probably wanted SBA And as the stronger sure . accrete. we're X be to so in results the than the or that but we the not like be so should X sure I to of and pipeline fluctuation probably multiple continue in sources. positive fourth today, -- feeling And won't the that that components, we the comp, had revenue had swapping experienced think some sources aggregate we to wanted incrementally income, be swaps we we individual overall quarter,

Operator

The next Feddie comes the Hovde from question Group. of Strickland

Feddie Strickland

ask, to growth you have know at we should the the want later like and 'XX. in two, I any integrate year. of years here Just out they're saves of past expense should think some kind how as I major about history for cost a But major maybe Are premerger is initiatives? kind for of we mean there piece look that? anything to or look there you in

Gregory Robertson

past how we say is about a year's would of indicator premerger think I it. good

to year. mid-single-digit we're grow next going we the to or I the grow overarching want range think loans in

base expense overall keeping that really expense from thinking we're is growth in standpoint. that what line so with asset -- strategy And an about

year, because of end be Those through them showing a cost that noting with that we're of of worth it's core in the towards . remember, lot in $XX.X do pulling will million. the savings XXXX. conversion and the -- not So later

David Melville

But Oakwood add. that point. X this on Greg in his thing of kind good a remarks. in All the in hit launching I'd quarter fourth prepared

Feddie Strickland

of a number is good is launching right at current fully of $XX-ish all of million point. consensus I kind Oakwood. loaded impact that the kind believe includes in, And and out there. That's

Got you. initially the wouldn't I cost of right? see then And probably the as you in later are many those said saves year.

Gregory Robertson

going not through then We're probably until the those year of pulling QX and to into 'XX next see

David Melville

Which cut when we expectation we deal was our as is what the model.

of internal Oakword sequence the doing own a just it's a our of including with not prior conversation. not legacy conversion a So be to a It's delay. events core work,

Feddie Strickland

just for just then question still M&A little And do for the the think forward? playbook medium runway Understood. at bit, more remain or growth Oakwood X you going a in do the a guess, hanging here? of of like I me term geographic doing fruit Or how is is ops current kind I a the with part but does lift-outs? bit on about in -- look growth. mean, low expansion good still Would there's of, just additional team of feel . you you terms footprint

David Melville

Yes.

really with making enabling maximizing think sure to where prepared be could beyond team that record always, of remains partnered and were with and to they opportunity partnered do have a we of growth have, when we advantage the I good organic that we would we've we them. before say current that be priority teams grow I that itself, multiple I to it track we're we that successful fronts. take presents on and as believe our want we -- do

priority to that be continuing for current the we'll we've way team our first look a And outs would certainly lift in some great begin successfully, be to and will footprint, operating and so done opportunities. grow, leverage. gain or that Certainly, the

#X is footprint, be Number so the a prepared as take might I our footprint. should right standpoint, we current And say a gaps is Houston that we to priority current on the priority in possible in of prepare X filling M&A footprint feel some would from partner, -- Berland. our area

core as plenty continue We as in have to to still grow build franchise. room our have Louisiana well of

I what like to wanted we now, that be how would we more our we do would or face we X, imagine to say like look or partner X, footprint with. determined XX I if years of can widespread the East, the -- about will the opportunities Secondarily, order that over will by that's and but looks in look we we, from who the think time, for

to have through the choices location have and or always term. about near current And in of than our think growth But that that's we'll footprint, specific organic our take we that. we do and rates will bankers will . our more for partnership, been priority the our be do so be through plenty over that continue geography, whether

Unknown Executive

had Houston for our it micro that a couple to Might bankers who and mention you retire footprint, Yes, of addition. certain to we're we that back in those

Gregory Robertson

positive some results. I excited that. will And again, to about We're base current earnings incremental our addition talent produce think

David Melville

-- I New is but worth or and Louisiana before, both growth Orleans. biggest out this this think it pointing our year quarter areas X Greg and mentioned that were

So I Lousiana also those each headlines. things additional we that good are I get core our and know we power, talent. build think the we with we credibility -- and we're to excited our build tend But about Dallas passes, brand competitive year quarter and within that posture feel accumulate each about franchise and Houston, and really

footprint. quarter plenty so was footprint, And together the a example the greater the Texas example, of or our which And our part opportunities third future, footprint and I Southwest our your growth. our Lousiana we 'XX. have benefit provided different our key hole over believe certainly for throughout elements really serve constituent you think a of of most portion we of while and 'XX is deposit of can of to some good

evolution of best with to might Louisiana our about bankers this the have community very And out the banking might opportunities year, the we other worlds, of areas. we've drop that the do to of over leadership across combine the of and more do to tried good commercial So the say more of metro kind an slightly highly had sector. results rural parse in when things really excited that think of time that kind footprint is is which course from we locations both have footprint opportunity in we've that the I over One you we

Operator

today from Navas, And take D.A. Manuel our next Davidson. we'll question

Manuel Navas

The slide the just improvement. you so rate only the future cut low balance Can some as expansion reduction, point on the of What's that's XQ. kind talk assumptions NIM is behind slide? of far. And single-digit core basis XX through under only the of that sheet that

Gregory Robertson

that would Yes, sheet balance XQ, XX would a assumption then for be on that be we would basis be would as what points, static and of every that an realize.

David Melville

Yes. And a little bit more color there, Manuel.

So assuming of that's additive on the incremental trajectory, of and rates. flat kind expansion top our current

So scenario some not and a rates we expansion still if cut, got we've would where see were lift.

or that of off couple environment. already rate QX There's point in QX figure. just there of ending not So current basis in expansion current some the a pickup is inherent figure flat

on next the modest XX of months. additive expansion that's top over some the So already really expansion

makes So expansion sense. the If growth a from recent that outlook and that's ordinary improvement. from not X-month margin cut business course expansion plus of

Unknown Executive

have the paints to balance movements. we I really and and we reactive balance the time the And the neutral where think of think sheet. liability done work that position last be really the we put shows this to in become rate more sheet -- talked interest work can a we We picture we to restructure saw the about I side

do. of out indication a what bit a just able snapshot shows to of that to us little work has give proves to lift This that be is

Manuel Navas

middle X digits, another cut saying forward assumptions. X -- under point contemplates is year. to of single and let's basis these like basis . basis XXX low curve next that point the in points, Fed another in almost X this Is improvement NIM we core say, funds at So by

Gregory Robertson

. reasonable that be to expect. think would I

Manuel Navas

Oakwood purchase Okay. you accretion on add of And that. layer the accounting then Oakwood top improvement in in core

So there's as pieces well. other couple a of

Gregory Robertson

NIM the in think correct. I from is Oakwood

that. Oakwood, But think on to will accretion numbers finalize the slightly the trying that. think I I still be on some there we're lift on lift

Manuel Navas

Sure, sure.

month the from money quarter. the down betas about markets -- the since is stepped to have pretty pretty you're the Fed customers cycle. through cut progressed? nicely a those -- rates, So acceptance expected are strong of They this cuts your how

Gregory Robertson

Not run growth Fed that lot a slight no volatility account. We've cuts, in had the since of out.

decision So pretty we so we made about far. good feel the

Manuel Navas

great It use a That's loan on closed? that me you great. Any of million through. pretty there's in little of there. Kind like just bit deployed walk updates have up quickly. $XXX That's about the more seems some were cash Oakwood to it's growth did going other now to hear. cash they

Gregory Robertson

you give did was deal They growth I'll an loan update. have the announced. since

their so tick loan-to-deposit ratio to And higher.

we'll ours. that's some where to so from And evaluate to we went. cash of base as their And move the then opportunities funding continue

funding little time a is as more have structured They of a deposit base that up. renewal opportunity coming

as So improvement that. we'll going for able everything be with But and planned a hopefully one-off that basis sure. some is deal on to see in

Operator

[Operator Christopher Instructions] We'll go Scott. to Marinac, Janney Montgomery

Christopher Marinac

would that I future wanted possible? to what ask look about the lower quarters. interest like? Is that in rates credit And upgrades and the impact on

Gregory Robertson

to in a risk there's rating. in the of going do improvements at It's right we and like see ratings across through the kind feel a granular pretty level some of We're good risk our question. process benefits and portfolio opportunities some now Yes. on some

in the across and that it the a good across board, going about factor pretty implying looking fashion. we're it and phase. a been It's at portfolio So disciplined

David Melville

Most has increase of our to the rates. requirements rising been in debt list watch based on due higher in service

previously. been time. make those financials decisions required and be perspective, bit hold it from And little and expect also, And whatever does So things documentation under just our that would have stress a a all is clients that how that of into true quickly then move? actually a the question And and little we how rates updated to some feed degree. of reverse timing might will take with

that environment in positive quarters for of that expect couple over -- do watchless counter that I the we past particular. think the should experienced But change net be rate of growth a to the we've some in

Christopher Marinac

guess, June, next In between kind behavior would own few . is versus separation its quarters. of, any these watch CRE is I related list separate C&I that have there C&I pure the

Gregory Robertson

-- would between in is distinct. a there CRE, range. the is watch think I the Chris. distinction list. There good C&I, XX% Greg, good on This probably it's I that is XX% a something say pretty makeup of pretty

overarching paying fact agreed, ratio what about list think at the from standpoint. if looking or is watch as XX% I of said ratio that but kind play you're you out have of a financial is performance impacted does

So rate cut. the and to that's prior

on like right probably far will that So as that some we group, as it probably now. granularity in get that are of help we performance having data but can each we naturally customers, those feel the the

Christopher Marinac

slide Would changing versus just then think No this should problem. in we XX helpful. on think if last environment? to mix XX, same you the we #XX. business Or And see . months? just That's the question goes that of kind of beta back mix prospectively

Gregory Robertson

over sheet. to move say to a into position give we would XX -- balanced hard the XX to the little I us more this mix balance worked neutral real last months

that say dramatic some we So for an say M&A think I change would be going in out standpoint, the would realistic this from and that's future, I expect. . what could

Christopher Marinac

near use the is term. foreseeable point recent get just good that in to any rates XX in future in but Yes. I'd big the cut range we future, not probably might the a basis say assumption got, we

Operator

hand questions. time, I this there . I'll to Melville. you At no are apologize. it further back

David Melville

this an All right. that ourselves done participation you, it's and just cycle everybody's position beyond. to I of and and out been Thank to I'm proud and of and really maximize even couple we've for of questions. and XXXX coming work appreciate ready. I'm XXXX the a unexpected years,

the future of what years, Oakwood can in part in team-based with country's our and being together. we're have expectations years. cloud general. proud we're were and saying in continue banks to to community interest, I in quarter over the think going just look general prepared the our look proud find critical And role lot awful couple start ours forward we numbers particular incorporated community next coming There your an forward seeing be in to a quarters and you. last of quarter first Thank and play banking for in over the Thank do and are industry exceeded well really our to to And a of I you it. of to

Operator

everyone, conference. would today's Once for that you does to participation. again, like We your all conclude thank

disconnect. You may now

Business First Bancshares (BFST) 24 Oct 242024 Q3 Earnings call transcript