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Bank First Corporation

Bank First Corporation

NASDAQ•BFC
CEO: Mr. Michael B. Molepske
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 2003-10-15
Bank First Corporation operates as a holding company for Bank First, N.A. that provides consumer and commercial financial services to businesses, professionals, consumers, associations, individuals, and governmental authorities in Wisconsin. It offers checking, savings, money market, cash management, retirement, and health savings accounts; other time deposits; certificates of deposit; and residential mortgage products. The company's loan products include real estate loans, including commercial real estate, residential mortgage, and home equity loans; commercial and industrial loans for working capital, accounts receivable, inventory financing, and other business purposes; construction and development loans; residential 1-4 family loans; and consumer loans for personal and household purposes, including secured and unsecured installment loans, and revolving lines of credit. It also provides credit cards; ATM processing; insurance; data processing and other information technology; investment and safekeeping; treasury management; and online, telephone, and mobile banking services. The company was formerly known as Bank First National Corporation and changed its name to Bank First Corporation in June 2019. Bank First Corporation was founded in 1894 and is headquartered in Manitowoc, Wisconsin.
Contact Information
402 North 8th Street, Manitowoc, WI, 54220, United States
920-652-3100
www.bankfirst.com
Market Cap
$1.45B
P/E (TTM)
18.0
15.1
Dividend Yield
4.1%
52W High
$139.71
52W Low
$93.00
52W Range
78%
Rank42Top 47.5%
3.9
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$60.10M+3.86%
4-Quarter Trend

EPS

$1.83+10.91%
4-Quarter Trend

FCF

$0.00+0.00%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Net Income Rises Significantly Net income grew $5.1M for nine months to $53.1M, driven by higher loan yields offsetting rising deposit costs.
Net Interest Margin Expansion Taxable equivalent NIM improved 8 basis points to 3.75% for nine months, reflecting strong asset repricing in rate environment.
Solid Loan Portfolio Growth Total net loans increased $112.1M (3.2%) year-to-date, led by 10.9% growth in Commercial & Industrial loan segment.
Strong Capital Ratios Maintained Company CET1 ratio stood at 11.8%, significantly exceeding the 7.0% minimum requirement plus conservation buffer.

Risk Factors

Rising Noninterest Expenses Noninterest expense rose $3.0M for nine months, primarily due to $0.7M increase in outside service fees related to acquisition.
Credit Provisioning Increased Provision for credit losses was $1.3M for nine months, up from $0.2M last year, primarily related to overall loan growth.
Deposit Balance Decline Total deposits decreased $122.3M (3.3%) over nine months, requiring increased reliance on FHLB borrowings for liquidity.
Interest Rate Sensitivity Exposure Interest rate simulation shows potential 3.8% drop in NII under 300 basis point rate shock scenario as of 9/30/2025.

Outlook

Pending Acquisition Integration Merger agreement with Centre 1 Bancorp is expected to close January 1, 2026, creating a combined entity of $6.0B assets.
Asset Quality Remains Strong Management believes overall asset quality remains strong; ACL to loans ratio at 1.23% as of September 30, 2025.
Deposit Strategy Shift Strategy focuses on minimizing reliance on Certificates of Deposit by increasing relationship deposits in lower earning savings accounts.
Regulatory Capital Compliance Company expects to continue exceeding all applicable well-capitalized regulatory capital requirements throughout 2025.

Peer Comparison

Revenue (TTM)

WaFd, Inc.WAFD
$1.05B
-29.9%
Hope Bancorp, Inc.HOPE
$945.24M
-8.9%
Dime Community Bancshares, Inc.DCOM
$670.02M
-1.8%

Gross Margin (Latest Quarter)

TriCo BancsharesTCBK
77.1%
+3.6pp
Republic Bancorp, Inc.RBCAA
76.1%
+6.8pp
National Bank Holdings CorporationNBHC
72.0%
+5.7pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
WAFD$2.48B10.38.0%9.7%
TCBK$1.60B13.79.3%0.9%
STBA$1.55B8.912.3%2.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.0%
Moderate Growth
4Q Net Income CAGR
0.8%
Profitability Slowly Improving
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Jan 20, 2026
|
EPS:$1.75
|
Revenue:$43.85M
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 7, 2025|
    Revenue: $60.10M+3.9%
    |
    EPS: $1.83+10.9%
    Meet
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 11, 2025|
    Revenue: $58.50M+7.7%
    |
    EPS: $1.71+7.5%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 9, 2025|
    Revenue: $60.46M+14.7%
    |
    EPS: $1.82+20.5%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 28, 2025|
    Revenue: $223.24M+19.7%
    |
    EPS: $6.50-10.7%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 12, 2024|
    Revenue: $57.86M+14.3%
    |
    EPS: $1.65+15.4%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 7, 2024|
    Revenue: $54.31M+12.5%
    |
    EPS: $1.59+14.4%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $52.70M+17.9%
    |
    EPS: $1.51+38.5%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 29, 2024|
    Revenue: $186.47M+42.6%
    |
    EPS: $7.28+30.5%
    Beat