BankFirst Capital Corporation Shows Steady Growth with Q3 2026 Earnings of $8.53 Million

BankFirst Capital Corporation's Third Quarter Earnings Report Analysis

BankFirst Capital Corporation (OTCQX: BFCC), headquartered in Columbus, Mississippi, has released its earnings report for the third quarter of 2026, showcasing net income of $8.53 million, which translates into earnings per share of $1.47. This marks a slight decrease from $8.66 million, or $1.48 per share, reported in the preceding quarter. However, it is a substantial increase from the $5.20 million, or $0.83 per common share, recorded in the same quarter last year.

Performance Highlights

In the nine-month period ending September 30, 2026, BankFirst's net income reached a cumulative total of $25.58 million, resulting in earnings per share of $4.38. This also demonstrates growth compared to the $18.5 million, or $2.88 per share, from the previous year. The year-over-year increase in net income is notably attributed to the acquisition of The Magnolia State Corporation, which took effect on July 1, 2025. Despite a one-time provision expense of $4.14 million (pre-tax) initially recorded due to this acquisition, the company effectively reversed this in the fourth quarter of 2025 with an early adoption of certain accounting guidelines.

For the third quarter, net interest income rose to $30.45 million from the $29.02 million recorded in the same period last year, reflecting a solid increase of 5%. The bank's total assets also grew by 2.7%, reaching $3.43 billion as of September 30, 2026, compared to $3.34 billion a year prior. The total gross loans amounted to $2.35 billion, an increase of 7%, while total deposits also demonstrated growth, rising by 2.6% to $2.92 billion.

Credit Quality and Capital Position

Management indicates that credit quality remains robust, with a non-performing assets ratio of 0.52%. This figure is an uptick from 0.46% a year earlier but demonstrates the company’s ongoing strength in managing its credit risk amidst a challenging economic backdrop characterized by rising interest rates and inflationary pressures.

Significantly, as of September 30, 2026, BankFirst achieved the