Annual Report of Employee Stock Purchase/Savings Plan (Form 11-K)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 11-K

(Mark One)
☒	ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the fiscal year ended December 31, 2025
	OR
☐	TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from ____________ to __________

Commission file number 333-236022

BANCPLUS CORPORATION EMPLOYEE STOCK OWNERSHIP PLAN

WITH 401(k) PROVISIONS

BANCPLUS CORPORATION

1068 Highland Colony Parkway

Ridgeland, MS 39157

BancPlus Corporation

Employee Stock Ownership Plan

with 401(k) Provisions

December 31, 2025 and 2024

CONTENTS

Reports of the Independent Registered Public Accounting Firm	3
Financial Statements
Statements of Net Assets Available for Benefits as of December 31, 2025 and 2024	5
Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2025	6
Notes to Financial Statements	7
Supplemental Schedules
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)	15
Schedule H, Line 4j - Schedule of Reportable Transactions	16
Signature	17
Exhibits	18

Report of Independent Registered Public Accounting Firm

Plan Administrator and Plan Participants

BancPlus Corporation Employee Stock Ownership Plan

With 401(k) Provisions

Ridgeland, Mississippi

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of BancPlus Corporation Employee Stock Ownership Plan with 401(k) Provisions (Plan) as of December 31, 2025 and 2024, the related statement of changes in net assets available for benefits for the year ended December 31, 2025, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2025 and 2024 and the changes in net assets available for benefits for the year ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

Basis of Opinion

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

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Plan Administrator and Plan Participants

BancPlus Corporation Employee Stock Ownership Plan

with 401(k) Provisions

Report on Supplemental Information

The supplemental information in the accompanying Schedule H, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2025 and Schedule H, Line 4j - Schedule of Reportable Transactions for the year ended December 31, 2025 have been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental schedules are the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental schedules reconcile to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedules. In forming our opinion on the supplemental schedules, we evaluated whether the supplemental schedules, including their form and content, are presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the Schedule H, Line 4i - Schedule of Assets (Held at End of Year) and Schedule H, Line 4j - Schedule of Reportable Transactions are fairly stated, in all material respects, in relation to the basic financial statements taken as a whole.

/s/ Forvis Mazars, LLP

We have served as the Plan's auditor since 2008.

Jackson, Mississippi June 18, 2026

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BancPlus Corporation

Employee Stock Ownership Plan

with 401(k) Provisions

Statements of Net Assets Available for Benefits

	December 31,
	2025				2024
Assets
Investments, at Fair Value
Money market mutual fund	$	739,709			$	6,422,614
Mutual funds		70,796,928				59,007,276
Common collective trusts		2,443,134				3,076,089
BancPlus Corporation common stock		105,317,304				95,252,916
Total investments		179,297,075				163,758,895
Receivables
Notes receivable from participants		944,320				790,778
Participant contributions receivable		-				108,250
Total receivables		944,320				899,028
Total assets		180,241,395				164,657,923
Net Assets Available for Benefits	$	180,241,395			$	164,657,923

The accompanying notes are an integral part of these financial statements.

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BancPlus Corporation

Employee Stock Ownership Plan

with 401(k) Provisions

Statement of Changes in Net Assets Available for Benefits

	Year Ended December 31, 2025
Additions
Contributions
Employer	$	4,600,000
Participant salary deferrals		6,298,468
Participant rollovers		1,247,877
Total contributions		12,146,345
Investment Income
Dividends on BancPlus Corporation common stock		2,908,486
Interest and dividend income		757,112
Interest income on notes receivable from participants		76,290
Change in value of BancPlus Corporation common stock		14,892,867
Net appreciation in fair value of mutual funds		9,572,651
Total investment income		28,207,406
Total additions		40,353,751
Deductions
Benefits Paid Directly to Participants
Cash		23,156,158
Stock		1,393,837
Loans deemed distributed		82,256
Total benefits paid		24,632,251
Administrative expense		138,028
Total deductions		24,770,279
Net Increase in Net Assets		15,583,472
Net Assets Available for Benefits, Beginning of Year		164,657,923
Net Assets Available for Benefits, End of Year	$	180,241,395

The accompanying notes are an integral part of these financial statements.

6

BancPlus Corporation

Employee Stock Ownership Plan

with 401(k) Provisions

Notes to the Financial Statements

December 31, 2025 and 2024

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Distributions relating to the Company's stock may be made in shares of the Company's common stock or in cash, at the discretion of the participants.

Voting Rights

Each participant in the Plan is entitled to direct the Trustee as to the manner in which voting rights on shares of the Company's common stock, which are allocated to the common stock account of such participant, are to be exercised with respect to any corporate matter which involves the voting of such shares, including the approval or disapproval of any corporate merger or consolidation, recapitalization, reclassification, liquidation, dissolution, sale of substantially all assets of a trade or business, or such similar transaction. The Trustee is permitted to vote any share for which instructions have not been given by a participant.

Diversification

Diversification is offered to participants close to retirement so that they may have the opportunity to move part of the value of their investment in Company common stock into other investments. Participants who are at least age 55 with at least 10 years of participation in the Plan may elect to diversify a portion of their account.

Contributions

The Bank makes (1) annual safe harbor matching contributions in the amount of 100% of the first 3% and 50% of the next 2% of the participant's compensation contributed, and may make (2) discretionary matching contributions equal to a percentage of the participant's contributions and/or (3) optional contributions to all eligible participants.

Participants may make (1) salary reduction contributions subject to Internal Revenue Service ("IRS") and plan limits and (2) rollover contributions. Effective January 1, 2025, the Plan was amended to include Roth options for salary reduction contributions and rollovers.

Participant Accounts

Participants direct the investment of their contributions into various investment options offered by the Plan. The Plan offers the option to invest in the Company's common stock, various participant-directed investment allocation options and participant-directed investments in mutual funds.

Each participant's account is credited with the participant's contributions and with an allocation of (1) the Company's contribution, (2) plan earnings and (3) forfeitures of terminated participants' nonvested accounts. Allocations of basic and optional contributions and forfeitures are based on a participant's compensation. Company matching contributions are allocated based on a participant's salary reduction contributions.

Nonparticipant-directed investments are credited to individual participant accounts as of the last day of each plan year, with an allocation of shares of the Company's common stock released by the Trustee from the unallocated account and forfeitures of terminated participants' nonvested accounts. Only those participants who are eligible employees of the Company as of the last day of the plan year will receive an allocation. Allocations are based on a participant's eligible compensation relative to total eligible compensation.

Forfeited Accounts

In 2025, $97,866 was forfeited and reallocated to participants.

Notes Receivable from Participants

The Plan Document includes provisions authorizing loans from the Plan to active eligible participants. Participants may borrow from their accounts a minimum of $2,500 up to a maximum of $50,000, or 50% of their account balance, whichever is less. Loans are secured by the balance in the participant's account and bear interest at commercially

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Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value:

Level 1 Quoted prices in active markets for identical assets or liabilities that the Plan can access at the measurement date

Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities

Level 3 Unobservable inputs supported by little or no market activity and are significant to the fair value of the assets or liabilities

Recurring Measurements

Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a recurring basis and recognized in the accompanying statements of net assets available for benefits, as well as the general classification of such assets pursuant to the valuation hierarchy. There have been no significant changes in the valuation techniques during the years ended December 31, 2025 or 2024. The Plan had no assets measured at fair value on a nonrecurring basis. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below.

Investments

Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 investments include money market accounts and mutual funds. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Such securities are classified in Level 2 of the valuation hierarchy. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy and include

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13

Supplemental Schedules

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15

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned duly authorized.

	BANCPLUS CORPORATION
	EMPLOYEE STOCK OWNERSHIP PLAN
	(WITH CODE SECTION 401(K) PROVISIONS)
Date: June 18, 2026		/s/ Lisa McDaniel
		Lisa McDaniel
		Senior Vice President & Director of Human Resources

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EXHIBIT INDEX

Exhibit Number		Description
23.1		Consent of the Independent Registered Public Accounting Firm - Forvis Mazars, LLP

18