Revenue: As of FY2026 Q2, the actual value is USD 85.72 M.

EPS: As of FY2026 Q2, the actual value is USD 2.21, missing the estimate of USD 2.245.

EBIT: As of FY2026 Q2, the actual value is USD 30.64 M.

Net Income

Bank First Corporation reported net income of $24.7 million for the second quarter of 2026, compared to $16.9 million for the prior-year second quarter. For the six months ending June 30, 2026, net income was $44.7 million, up from $35.1 million for the same period in 2025.

Adjusted Net Income (Non-GAAP)

Adjusted net income (non-GAAP) was $27.3 million for the second quarter of 2026, compared to $16.7 million for the prior-year second quarter. For the six months ended June 30, 2026, adjusted net income was $52.4 million, compared to $35.0 million for the same period in 2025.

Dividends

Bank First Corporation declared a quarterly cash dividend of $0.60 per common share. This represents an increase of 9.1% over the prior quarter and 33.3% over the prior-year second quarter.

Net Interest Income (NII)

Net interest income for the second quarter of 2026 was $55.0 million, an increase of $1.8 million from the previous quarter and $18.3 million from the second quarter of 2025. The impact of net accretion and amortization of purchase accounting increased NII by $3.5 million in the second quarter of 2026, compared to $2.7 million in the previous quarter and $0.6 million in the second quarter of 2025.

Net Interest Margin (NIM)

Net interest margin was 4.13% for the second quarter of 2026, up from 3.96% in the previous quarter and 3.72% in the second quarter of 2025. Purchase accounting increased NIM by 0.27% in Q2 2026, 0.20% in Q1 2026, and 0.07% in Q2 2025. Excluding the impact of purchase accounting, NIM increased by 10 basis points quarter-over-quarter due to higher rates earned on average earning assets and lower rates paid on average interest-bearing liabilities.

Provision for Credit Losses

Bank First, N.A. recorded no provision for credit losses in the second quarter of 2026, consistent with the previous quarter, and less than the $0.2 million provision recorded in the second quarter of 2025. Accounting entries related to the Centre acquisition added $12.8 million to the allowance for credit losses on January 1, 2026.

Noninterest Income

Noninterest income totaled $10.0 million for the second quarter of 2026, compared to $10.5 million for the prior quarter and $4.9 million for the second quarter of 2025. Trust and Wealth Management income, a new business line from the Centre acquisition, contributed $1.6 million in noninterest income during Q2 2026, a near 100% increase from prior periods. Service charge income was $4.1 million in Q2 2026, compared to $4.7 million in the prior quarter and $2.1 million in Q2 2025. Income from the investment in Ansay & Associates, LLC was $0.9 million, down from $1.0 million in the prior quarter and $1.2 million in Q2 2025. Net gains on sales of mortgage loans were $0.7 million in Q2 2026, down from $1.1 million in the prior quarter but up from $0.3 million in Q2 2025. A $0.5 million positive valuation adjustment to mortgage servicing rights occurred in Q2 2026, compared to a - $0.1 million negative adjustment in Q2 2025.

Noninterest Expense

Noninterest expense was $34.4 million in the second quarter of 2026, compared to $39.1 million in the prior quarter and $20.8 million in the second quarter of 2025. Acquisition-related expenses for Centre and Peoples totaled $3.3 million in Q2 2026, down from $6.5 million in the previous quarter. Amortization of intangibles, primarily due to a $31.9 million core deposit intangible asset from the Centre acquisition, was $2.5 million in Q2 2026 and $2.6 million in Q1 2026, compared to $1.3 million in Q2 2025.

Total Assets

Total assets were $5.95 billion on June 30, 2026, an increase of $1.44 billion from December 31, 2025, and $1.58 billion from June 30, 2025. The Centre acquisition added approximately $1.48 billion in assets on January 1, 2026.

Investments

The carrying value of investments totaled $608.6 million on June 30, 2026, an increase of $340.5 million from December 31, 2025, and $331.6 million from June 30, 2025. The Centre acquisition included $333.1 million in investments.

Total Loans

Total loans were $4.52 billion on June 30, 2026, up $917.0 million from December 31, 2025, and $941.3 million from June 30, 2025. Loans included in the Centre acquisition totaled approximately $981.5 million.

Total Deposits

Total deposits were $4.99 billion on June 30, 2026, an increase of $1.29 billion from December 31, 2025, and $1.39 billion from June 30, 2025. Deposits from the Centre acquisition totaled approximately $1.38 billion. Noninterest-bearing demand deposits comprised 30.0% of total deposits on June 30, 2026, up from 27.1% at the end of 2025.

Nonperforming Assets

Nonperforming assets totaled $27.8 million on June 30, 2026, which is a decrease of $2.2 million from the end of the previous quarter but an increase of $14.2 million from June 30, 2025. Nonperforming assets to total assets were 0.47% as of June 30, 2026, down from 0.50% in the prior quarter but up from 0.31% on June 30, 2025.

Stockholders’ Equity

Stockholders’ equity totaled $819.3 million on June 30, 2026, an increase of $175.4 million from the end of 2025. This increase was driven by $44.7 million in earnings and a $168.5 million positive impact from the Centre acquisition, partially offset by $11.7 million in dividends and $22.7 million in share repurchases.

Book Value per Common Share

Book value per common share was $73.95 on June 30, 2026, compared to $65.47 on December 31, 2025. Tangible book value per common share (non-GAAP) was $47.92 on June 30, 2026, compared to $46.01 on December 31, 2025.

Outlook / Guidance

Following the anticipated closing of the Peoples acquisition in December 2025, Bank First, N.A. is expected to have approximately $7.5 billion in total assets. The company’s strategy for surpassing $10 billion in assets focuses on disciplined growth and maintaining acquisition standards to create long-term shareholder value. Full realization of expected cost savings from operational synergies created by the Centre acquisition are anticipated during future quarters.