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Bank First Corporation (BFC) investor relations material
Bank First Corporation Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary21 Oct, 2025
Executive summary
Net income for Q3 2025 was $18.0 million ($1.83 per share), up from $16.6 million ($1.65 per share) in Q3 2024, driven by higher yields on new and renewed loans and lower deposit repricing.
For the nine months ended September 30, 2025, net income rose to $53.1 million ($5.36 per share) from $48.0 million ($4.75 per share) year-over-year.
Adjusted net income for Q3 2025 was $18.8 million ($1.91 per share), up from $16.5 million ($1.65 per share) in Q3 2024, excluding acquisition and one-time items.
A merger agreement with Centre 1 Bancorp, Inc. was announced, expected to close January 1, 2026, creating a combined entity with $6.0 billion in assets.
Earnings growth was driven by mid-single-digit loan expansion and higher loan yields from repricing.
Financial highlights
Net interest income for Q3 2025 was $38.3 million, up $2.4 million year-over-year and $1.6 million sequentially; net interest margin rose to 3.88% from 3.76% in Q3 2024.
Total interest income for Q3 2025 was $55.4 million, up 2.6% year-over-year.
Noninterest income for Q3 2025 was $6.0 million, up 22% year-over-year, with gains in MSR valuation and mortgage loan sales.
Noninterest expense for Q3 2025 increased to $21.1 million, up from $20.1 million in Q3 2024, mainly due to higher outside service fees related to acquisitions.
For the nine months ended September 30, 2025, net interest income was $111.5 million, up from $102.2 million year-over-year.
Outlook and guidance
Management expects to continue exceeding all well-capitalized regulatory capital requirements and the capital conservation buffer in 2025.
The Centre merger is anticipated to close in early 2026, significantly increasing the scale of operations.
Loan repricing is expected to continue boosting portfolio yields.
The acquisition of First National Bank & Trust is scheduled to close January 1, 2026.
Quantify Q3 NIM impact from loan/CD repricing.
Detail capital deployment outpacing 9M earnings.
Explain the Q3 provision for credit losses increase.
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Next Bank First Corporation earnings date
Q4 202516 Jan, 2026
Next Bank First Corporation earnings date
Q4 202516 Jan, 2026
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Frequently asked questions
Bank First Corporation is a bank holding company that operates through its subsidiary, Bank First, N.A. The company provides a range of financial services, primarily focused on community banking. Its offerings include personal and business banking services, such as checking and savings accounts, loans, mortgages, and wealth management services. BFC serves a diverse customer base, including individuals, small to medium-sized businesses, and professionals. The company operates a network of branch locations across Wisconsin, providing localized services tailored to meet the needs of the communities it serves. The company is headquartered in Manitowoc, Wisconsin, and its shares are listed on the NASDAQ.
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