Bank First (BFC) Q4 2025 earnings summary

Executive summary

• Net income reached $18.4 million for Q4 2025 and $71.5 million for the year, with EPS of $1.87 and $7.23, respectively, both up year-over-year.

• Adjusted net income (non-GAAP) for Q4 2025 was $19.6 million ($2.00 per share), and $73.4 million ($7.42 per share) for the year, reflecting strong core performance excluding one-time items.

• The acquisition of Centre 1 Bancorp, parent of FNBT, was completed, marking the largest merger in company history and expanding into new markets.

Financial highlights

• Net interest income for Q4 2025 was $40.2 million, up $1.9 million sequentially and $4.6 million year-over-year.

• Net interest margin improved to 4.01% in Q4 2025 from 3.88% in Q3 and 3.61% in Q4 2024.

• Noninterest income was $4.8 million in Q4 2025, down from $6.0 million in Q3 but up from $4.5 million in Q4 2024.

• Noninterest expense rose to $22.0 million in Q4 2025, reflecting acquisition and branch-related costs.

• Total assets at year-end were $4.51 billion, up $85.7 million in Q4, with total loans at $3.60 billion and deposits at $3.70 billion.

Outlook and guidance

• Management anticipates benefits and synergies from the FNBT acquisition, with expanded service offerings and geographic reach.

• Forward-looking statements caution about economic, interest rate, and integration risks.