Bank First | 10-Q: FY2025 Q3 Revenue: USD 61.41 M

Revenue: As of FY2025 Q3, the actual value is USD 61.41 M.

EPS: As of FY2025 Q3, the actual value is USD 1.83, beating the estimate of USD 1.81.

EBIT: As of FY2025 Q3, the actual value is USD -15.78 M.

Interest Income: Total interest income increased by $12.4 million, or 8.1%, to $165.1 million for the nine months ended September 30, 2025, compared to $152.7 million for the same period in 2024.

Net Interest Income: Net interest and dividend income increased by $9.3 million to $111.5 million for the nine months ended September 30, 2025, compared to $102.2 million for the same period in 2024.
Provision for Credit Losses: We recorded a provision for credit losses of $1.3 million for the nine months ended September 30, 2025, compared to $0.2 million for the same period in 2024.
Noninterest Income: Noninterest income increased by $2.3 million to $17.5 million for the nine months ended September 30, 2025, compared to $15.2 million for the same period in 2024.
Noninterest Expense: Noninterest expense increased by $2.9 million to $62.4 million for the nine months ended September 30, 2025, compared to $59.5 million for the same period in 2024.
Net Income: Net income increased by $5.1 million to $53.1 million for the nine months ended September 30, 2025, compared to $48.0 million for the same period in 2024.

Operating Cash Flow: Net cash provided by operating activities was $33.5 million for the nine months ended September 30, 2025, compared to $35.0 million for the same period in 2024.
Investing Cash Flow: Net cash used in investing activities was - $51.3 million for the nine months ended September 30, 2025, compared to - $107.3 million for the same period in 2024.
Financing Cash Flow: Net cash used in financing activities was - $117.3 million for the nine months ended September 30, 2025, compared to $29.2 million provided by financing activities for the same period in 2024.

Income from Ansay: Income provided by the Bank’s investment in Ansay & Associates, LLC totaled $3.6 million through the third quarter of 2025, up $0.2 million from the first nine months of the prior year.
Valuation Adjustment on MSR: Positive valuation adjustments to the Bank’s MSRs totaling $0.3 million during the first three quarters of 2025 compared favorably to $0.3 million in negative valuation adjustments during the first three quarters of 2024.
Net Gain on Sales of Mortgage Loans: Net gain on sales of mortgage loans totaled $1.2 million through the first nine months of 2025, up $0.3 million from the first nine months of 2024.

Core Business Focus: The Bank’s net income continues to benefit from new and renewed loans being priced at higher yields, while deposits continue to reprice lower.
Non-Core Business: The Company’s acquisition of Centre, scheduled to close on January 1, 2026, is expected to further enhance the Bank’s market presence and financial performance.
Priority: The Bank’s focus on managing interest income and expense, along with strategic acquisitions, is expected to drive future growth and profitability.