Bank First Reports Significant Net Income Growth in Q4 2025 Earnings
Bank First Reports Significant Net Income Growth in Q4 2025 Earnings
Bank First Corporation, trading under NASDAQ as BFC, recently disclosed its financial results for the fourth quarter of 2025. The numbers reflect a solid performance in net income, which reached $18.4 million, or $1.87 per share. This shows a notable increase compared to the previous year's fourth quarter, where the net income was $17.5 million, equivalent to $1.75 per share.
For the entire fiscal year ending December 31, 2025, the corporation marked total earnings of $71.5 million, resulting in an increase from 2024's $65.6 million. Adjusting for certain one-time expenses linked to their acquisition of Centre 1 Bancorp, the adjusted net income stood at $19.6 million for Q4, or $2.00 per share. This adjustment signifies an increase from the $17.4 million or $1.74 per share reported in the same quarter of the previous year.
Earnings Highlights
The year saw an impressive annualized return on average assets recorded at 1.65% for the last quarter, while the entire year reflected 1.62%. The bank's successful operational strategies have paid off in the form of an annualized dividend, declared at $0.50 per common share, which is a marked increase of 11.1% over past quarter returns. This dividend will be issued to shareholders on April 8, 2026.
Chairman and CEO Mike Molepske highlighted the transformative acquisition of First National Bank and Trust Company (FNBT) as a crucial step in the bank’s growth trajectory. Despite incurring $1.5 million in related expenses, the acquisition marks the most crucial merger in Bank First's history, expanding its footprint into additional regions of Wisconsin and Illinois and enhancing their service offerings.
Operating Results and Asset Quality
The Bank First's net interest income (NII) for Q4 was $40.2 million, marking an uptick of $1.9 million over the prior quarter and an increase of $4.6 million year-over-year. The net interest margin (NIM) also saw improvements, achieving 4.01%, up from 3.88% in the prior quarter. The higher income can be attributed to increased loan yields offsetting declines from cash reserve rates following recent interest rate adjustments by the Federal Reserve.
For the quarter, there was no provision for credit losses recorded, in contrast to a provision of $0.7 million in the previous quarter. Moreover, nonperforming assets remained low, totaling only $9.0 million, which falls within acceptable limits compared to past years.
Financial Health Overview
As of December 31, 2025, total assets reached $4.51 billion, showing a quarterly growth of 7.8%. Total loans also saw an increase to $3.60 billion, although a seasonal contraction occurred in the last quarter due to exiting several low-performing relationships.
From the deposits standpoint, the bank experienced a total rise to $3.70 billion, reflecting an annualized deposit growth rate of 17.7% in Q4. The quality of assets has remained strong, indicating a solid capital position moving forward.
Conclusion
Bank First Corporation's results for Q4 2025 reflect a robust financial footing, emphasizing its successful strategies in both growth and acquisition. Moving forward, the bank appears poised to continue its upward trend and capitalize on its expanded market presence following the merger with FNBT. Stakeholders and potential investors will likely find further developments from the bank a point of interest as it continues to navigate the evolving financial landscape.
Topics Financial Services & Investing）
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