Bank First Corp SEC 10-Q Report

Bank First Corp, a leading provider of banking services, has released its Form 10-Q report for the third quarter of 2025. The report highlights the company's robust financial performance and strategic business initiatives, underscoring its commitment to growth and shareholder value.

Financial Highlights

• Total Interest Income: $165.079 million, reflecting an increase from $152.651 million in the same period last year, driven by higher loan and securities income.
• Net Interest Income: $111.492 million, up from $102.239 million, indicating improved interest income despite rising interest expenses.
• Net Income: $53.106 million, compared to $48.023 million in the prior year, showcasing strong profitability.
• Earnings per Share - Basic: $5.36, an increase from $4.75, highlighting enhanced shareholder value.
• Earnings per Share - Diluted: $5.36, consistent with basic EPS, indicating no significant dilution effects.

Business Highlights

• Segment Information: The company's operations are primarily focused on banking services, with significant revenues generated from loans, investments, service charges, and deposits. The chief operating decision maker evaluates performance based on these revenue streams and significant expenses such as interest expense, provisions for credit losses, data processing, and payroll.
• Geographical Performance: The company operates through its wholly-owned subsidiary, Bank First, N.A., with a primary market area including counties in Wisconsin such as Manitowoc, Outagamie, Brown, Winnebago, Sheboygan, Shawano, Waupaca, Ozaukee, Monroe, Fond du Lac, Waushara, Dane, Columbia, Door, and Jefferson. The bank has twenty-seven locations across these regions.
• Future Outlook: The company anticipates the national unemployment rate to rise during the forecast period, with a slight increase in the national GDP growth rate. This economic outlook is factored into the company's allowance for credit losses and overall financial planning.
• Acquisitions: On July 18, 2025, the company entered into an Agreement and Plan of Merger with Centre 1 Bancorp, Inc., the parent company of First National Bank and Trust Company. The transaction is expected to close on January 1, 2026, and will result in a merged entity with total assets of approximately $6.0 billion, loans of approximately $4.6 billion, and deposits of approximately $4.8 billion.
• Operational Strategy: The company continues to focus on maintaining strong capital adequacy and meeting regulatory requirements, with a buffer of 2.5% as of September 30, 2025. The bank met all capital adequacy requirements, ensuring a stable operational foundation.
• Commitments and Contingencies: The company has commitments to extend credit, including fixed and variable rate commitments, credit card arrangements, and letters of credit, totaling significant notional amounts. These commitments are part of the company's strategy to meet the financing needs of its customers.

SEC Filing: Bank First Corp [ BFC ] - 10-Q - Nov. 07, 2025