#United States #earnings report #Macon, Mississippi #Q2 2026 #BankFirst Capital

BankFirst Capital Corporation Reports Strong Q2 2026 Earnings

BankFirst Capital Corporation (OTCQX: BFCC), the parent company of BankFirst Financial Services based in Macon, Mississippi, has announced its financial performance for the second quarter of 2026. The company recorded an impressive net income of $8.66 million, which translates to $1.48 per common share. This represents an increase from $8.39 million or $1.43 per share in the prior quarter, and a notable rise from $6.88 million or $1.07 per share during the same period last year.

Key Financial Highlights

• - Net Income Growth: The net income for the first half of the year reached $17.05 million or $2.91 per share, compared to $13.31 million or $2.05 per share in the first half of 2025.

• - Net Interest Income: BankFirst's net interest income surged to $29.55 million for the second quarter, marking a 28% increase from $23.07 million a year ago.

• - Assets & Loans Increase: Total assets grew to $3.34 billion, reflecting a 17% rise year-over-year. Meanwhile, gross loans amounted to $2.28 billion, demonstrating a 24% increase compared to the previous year.

• - Deposits: The total deposits climbed 19% to $2.83 billion, up from $2.38 billion in the same quarter last year.

Credit Quality Assertion

Management emphasizes that credit quality remains strong, with a non-performing assets ratio of only 0.53% of total assets, slight increase from 0.49% the year before. This indicates the company’s effective monitoring of asset quality amidst economic fluctuations.

Recent Developments

On May 20, 2026, BankFirst's Board approved a new stock repurchase program allowing the company to buy back up to $10 million in shares. This initiative underscores BankFirst's commitment to returning value to shareholders. In the second quarter alone, the company repurchased 27,588 shares.

Additionally, during April 2022, BankFirst issued $175 million of senior perpetual noncumulative preferred stock to the U.S. Department of the Treasury as part of the Emergency Capital Investment Program (ECIP). By the end of June 2026, the total outstanding senior preferred stock rose to $248.57 million due to strategic acquisitions.

CEO’s Insights

Moak Griffin, the CEO of BankFirst, expressed confidence in the company’s performance, stating, “We delivered steady results during the second quarter of 2026, marked by an increase in net income and a solid balance sheet. Despite economic uncertainties fueled by inflation and geopolitical tensions, we find ourselves positioned well to navigate challenges and exploit growth opportunities.”

Looking Ahead

As the company aims to enhance profitability, it also continues to focus on deep impact lending to meet specific ECIP criteria, with aspirations to exercise options to repurchase preferred stock in the future.

In summary, BankFirst Capital Corporation’s Q2 2026 results reflect robust financial health and a strategic approach to growth. With sound management and a focus on shareholder value, the company is well-positioned for future success.