NASDAQ : BFC
Bank First Corporation — Financial statements
Financials · Banks - Regional · United States
Last price 149.605 USD (Oct 30, 2026, 12:07 PM EDT) · Market cap 1.66B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 263.89M | 203.66M | 189.01M | 168.81M | 106.95M | 93.42M |
| Interest Income on Investments | 18.06M | 18.06M | 17.40M | 13.67M | 9.58M | 4.96M |
| Total Interest Income | 281.95M | 221.72M | 206.41M | 182.48M | 116.53M | 98.39M |
| Interest Paid on Deposits | 71.91M | 63.65M | 64.17M | 42.37M | 10.27M | 7.53M |
| Interest Paid on Borrowings | 6.41M | 6.41M | 4.44M | 6.64M | 2.18M | 777.00K |
| Total Interest Expense | 78.31M | 70.06M | 68.61M | 49.00M | 12.45M | 8.30M |
| Net Interest Income | 203.63M | 151.66M | 137.80M | 133.48M | 104.08M | 90.08M |
| Gain (Loss) on Sale of Investments | -31.00K | -34.00K | 31.00M | -3.00K | ||
| Gain (Loss) on Sale of Equity Investments | 2.86M | 3.92M | 3.50M | 5.19M | 5.61M | 5.14M |
| Other Non-Interest Income | 24.85M | 16.50M | 14.88M | 13.13M | 12.53M | 11.01M |
| Total Non-Interest Income | 35.37M | 22.22M | 19.65M | 50.21M | 19.70M | 23.52M |
| Revenues Before Loan Losses | 239.00M | 173.88M | 157.45M | 183.69M | 123.79M | 113.60M |
| Provision for Loan Losses | 750.00K | 1.25M | -800.00K | 4.68M | 2.20M | 3.10M |
| Revenue | 238.25M | 172.63M | 158.25M | 179.01M | 121.59M | 110.50M |
| Salaries and Employee Benefits | 61.30M | 38.84M | 37.43M | 36.61M | 30.29M | 25.95M |
| Occupancy Expenses | 2.81M | |||||
| Amortization of Goodwill & Intangibles | 8.82M | 5.00M | 5.79M | 6.32M | 2.32M | 1.41M |
| Selling, General & Administrative | 38.20M | 28.10M | 24.93M | 23.75M | 21.32M | 16.12M |
| Other Non-Interest Expense | 18.24M | 11.71M | 10.49M | 10.46M | 7.45M | 6.54M |
| Total Non-Interest Expense | 130.12M | 84.46M | 78.73M | 80.22M | 61.95M | 50.53M |
| EBT Excluding Unusual Items | 108.14M | 88.17M | 79.51M | 98.79M | 59.63M | 59.97M |
| Pretax Income | 108.14M | 88.17M | 79.51M | 98.79M | 59.63M | 59.97M |
| Income Tax Expense | 21.26M | 16.67M | 13.95M | 24.28M | 14.42M | 14.52M |
| Net Income | 86.88M | 71.50M | 65.56M | 74.51M | 45.21M | 45.44M |
| Preferred Dividends & Other Adjustments | 347.00K | 347.00K | 349.00K | 425.00K | 330.00K | 351.00K |
| Net Income to Common | 86.53M | 71.15M | 65.21M | 74.09M | 44.88M | 45.09M |
| Basic Shares Outstanding | 10.77M | 9.84M | 10.03M | 10.17M | 8.04M | 7.62M |
| Diluted Shares Outstanding | 10.77M | 9.84M | 10.03M | 10.17M | 8.04M | 7.62M |
| EPS (Basic) | 8.03 | 7.23 | 6.50 | 7.28 | 5.58 | 5.92 |
| EPS (Diluted) | 8.03 | 7.23 | 6.50 | 7.28 | 5.58 | 5.92 |
| Dividend Per Share | 2.10 | 1.80 | 1.55 | 1.15 | 0.94 | 0.85 |
| Effective Tax Rate | 19.66% | 18.91% | 17.54% | 24.58% | 24.18% | 24.22% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 212.22M | 243.21M | 261.33M | 247.47M | 119.35M | 296.86M |
| Investment Securities | 588.29M | 250.15M | 356.26M | 258.58M | 369.13M | 239.93M |
| Mortgage-Backed Securities | 70.76M | 27.99M | 36.13M | 36.64M | 27.26M | |
| Total Investments | 588.29M | 320.90M | 384.25M | 294.71M | 405.76M | 267.19M |
| Gross Loans | 4.60B | 3.61B | 3.52B | 3.35B | 2.89B | 2.24B |
| Allowance for Loan Losses | -56.83M | -44.37M | -44.15M | -43.61M | -22.68M | -20.32M |
| Other Adjustments to Gross Loans | -986.00K | -1.76M | -2.25M | -831.00K | -1.71M | |
| Net Loans | 4.54B | 3.56B | 3.47B | 3.30B | 2.87B | 2.22B |
| Property, Plant & Equipment | 97.81M | 79.22M | 71.11M | 69.89M | 56.45M | 49.46M |
| Goodwill | 244.73M | 175.11M | 175.11M | 175.11M | 110.21M | 55.36M |
| Other Intangible Assets | 40.49M | 16.20M | 21.20M | 27.00M | 16.83M | 4.04M |
| Loans Held for Sale | 6.24M | 3.09M | 3.01M | 648.00K | 786.00K | |
| Other Real Estate Owned & Foreclosed | 741.00K | 2.57M | 2.52M | 150.00K | ||
| Other Long-Term Assets | 224.92M | 98.64M | 98.91M | 97.62M | 72.72M | 45.16M |
| Total Assets | 5.95B | 4.51B | 4.50B | 4.22B | 3.66B | 2.94B |
| Interest Bearing Deposits | 3.52B | 2.51B | 2.64B | 2.38B | 2.08B | 1.69B |
| Institutional Deposits | 182.97M | 47.19M | 36.79M | |||
| Non-Interest Bearing Deposits | 1.48B | 1.00B | 1.02B | 1.05B | 934.09M | 799.94M |
| Total Deposits | 5.00B | 3.70B | 3.66B | 3.43B | 3.06B | 2.53B |
| Short-Term Borrowings | 30.00M | 25.00M | 75.75M | 98.00M | 46.12M | |
| Current Portion of Long-Term Debt | 600.00K | 1.85M | ||||
| Current Portion of Leases | 94.00K | |||||
| Long-Term Debt | 79.84M | 12.00M | 12.00M | 12.00M | 23.50M | 17.50M |
| Federal Home Loan Bank Debt, Long-Term | 79.97M | 110.37M | 35.27M | 522.00K | 1.16M | |
| Long-Term Leases | 1.49M | 1.58M | 1.58M | |||
| Trust Preferred Securities | 4.12M | |||||
| Pension & Post-Retirement Benefits | 156.00K | 255.00K | ||||
| Long-Term Deferred Tax Liabilities | 1.52M | |||||
| Other Long-Term Liabilities | 39.41M | 42.92M | 46.93M | 41.98M | 22.74M | 16.48M |
| Total Liabilities | 5.12B | 3.86B | 3.86B | 3.60B | 3.21B | 2.61B |
| Common Stock | 826.44M | 115.00K | 115.00K | 115.00K | 101.00K | 85.00K |
| Additional Paid-In Capital | 333.84M | 333.84M | 333.81M | 218.26M | 93.15M | |
| Retained Earnings | 417.00M | 398.00M | 348.00M | 295.50M | 258.10M | |
| Treasury Stock | -102.09M | -82.92M | -53.39M | -45.19M | -32.29M | |
| Comprehensive Income & Other | -5.02M | -9.35M | -8.75M | -15.57M | 3.61M | |
| Shareholders' Equity | 826.44M | 643.84M | 639.68M | 619.80M | 453.10M | 322.65M |
| Total Liabilities & Equity | 5.95B | 4.51B | 4.50B | 4.22B | 3.66B | 2.94B |
| Total Debt | 79.84M | 123.55M | 147.37M | 127.14M | 124.21M | 68.21M |
| Net Cash (Debt) | 132.38M | 119.66M | 113.96M | 120.82M | -3.88M | 230.19M |
| Net Cash Per Share | 12.29 | 12.16 | 11.36 | 11.88 | -0.48 | 30.20 |
| Filing Date Shares Outstanding | 11.08M | 11.20M | 9.99M | 10.14M | 10.48M | 7.58M |
| Total Common Shares Outstanding | 11.08M | 9.83M | 10.01M | 10.37M | 9.02M | 7.62M |
| Book Value Per Share | 74.57 | 65.47 | 63.89 | 59.80 | 50.22 | 42.36 |
| Tangible Book Value | 541.22M | 452.53M | 443.37M | 417.70M | 326.07M | 263.26M |
| Tangible Book Value Per Share | 48.83 | 46.01 | 44.28 | 40.30 | 36.14 | 34.56 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 71.50M | 65.56M | 74.51M | 45.21M | 45.44M | |
| Depreciation & Amortization | 7.42M | 8.05M | 8.40M | 3.97M | 3.19M | |
| Gain (Loss) on Sale of Assets | 757.00K | -319.00K | 2.50M | -89.00K | -57.00K | |
| Gain (Loss) on Sale of Investments | -3.41M | -3.38M | -33.38M | 315.00K | 810.00K | |
| Total Asset Writedown | -2.89M | -4.63M | -6.88M | -2.56M | -1.95M | |
| Provision for Credit Losses | 1.25M | -800.00K | 4.68M | 2.20M | 3.10M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -1.35M | 1.22M | -1.47M | 1.70M | 5.53M | |
| Change in Other Net Operating Assets | -3.71M | 2.85M | 13.91M | 470.00K | -3.15M | |
| Other Operating Activities | -3.50M | -82.00K | -5.38M | -5.70M | -1.51M | |
| Operating Cash Flow | 62.48M | 65.85M | 52.95M | 40.01M | 40.28M | |
| Capital Expenditures | -11.44M | -7.22M | -13.48M | -6.87M | -8.72M | |
| Sale of Property, Plant and Equipment | 1.00K | 2.38M | 548.00K | |||
| Cash Acquisitions | 89.96M | 154.36M | ||||
| Investment in Securities | 74.55M | -85.65M | 228.05M | -127.72M | -50.65M | |
| Income (Loss) Equity Investments | -3.92M | -3.50M | -5.19M | -5.61M | -5.14M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -84.66M | -168.86M | -37.41M | -198.00M | -41.71M | |
| Other Investing Activities | 4.68M | 2.47M | 53.00K | 106.00K | 4.75M | |
| Investing Cash Flow | -15.97M | -252.94M | 269.00M | -177.81M | -93.89M | |
| Short-Term Debt Issued | 56.07M | 4.75M | ||||
| Long-Term Debt Issued | 220.00M | 140.00M | 121.70M | 3.13B | 5.00M | |
| Total Debt Issued | 220.00M | 140.00M | 121.70M | 3.18B | 9.74M | |
| Short-Term Debt Repaid | -75.75M | -21.45M | ||||
| Long-Term Debt Repaid | -245.51M | -44.12M | -112.86M | -3.13B | -20.38M | |
| Total Debt Repaid | -245.51M | -119.87M | -134.30M | -3.13B | -20.38M | |
| Net Debt Issued (Repaid) | -25.51M | 20.13M | -12.60M | 55.19M | -10.63M | |
| Issuance of Common Stock | 737.00K | 245.00K | 195.00K | 114.00K | 114.00K | |
| Repurchase of Common Stock | -22.04M | -31.93M | -10.05M | -14.31M | -8.27M | |
| Common Dividends Paid | -52.50M | -15.56M | -11.96M | -7.82M | -8.73M | |
| Net Increase (Decrease) in Deposit Accounts | 34.67M | 228.07M | -159.41M | -72.88M | 207.77M | |
| Financing Cash Flow | -64.64M | 200.95M | -193.82M | -39.71M | 180.24M | |
| Net Cash Flow | -18.12M | 13.86M | 128.12M | -177.51M | 126.64M | |
| Free Cash Flow | 51.04M | 58.62M | 39.46M | 33.14M | 31.57M | |
| Free Cash Flow Margin | 29.57% | 37.05% | 22.04% | 27.25% | 28.57% | |
| Free Cash Flow Per Share | 5.18 | 5.84 | 3.88 | 4.12 | 4.14 | |
| Cash Interest Paid | 71.03M | 65.97M | 44.15M | 11.31M | 7.06M | |
| Cash Income Tax Paid | 15.87M | 14.09M | 23.81M | 14.13M | 16.76M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.69B | 1.20B | 992.09M | 898.31M | 838.07M | 551.11M |
| Last Close Price | 149.03 | 120.42 | 93.58 | 80.42 | 84.93 | 65.32 |
| PE Ratio | 18.93 | 16.84 | 15.21 | 12.12 | 18.67 | 12.22 |
| PS Ratio | 6.93 | 6.94 | 6.27 | 5.02 | 6.89 | 4.99 |
| PB Ratio | 2.00 | 1.86 | 1.55 | 1.45 | 1.85 | 1.71 |
| P/FCF Ratio | 38.79 | 23.48 | 16.92 | 22.76 | 25.29 | 17.46 |
| P/OCF Ratio | 28.85 | 19.18 | 15.07 | 16.97 | 20.95 | 13.68 |
| Debt / Equity Ratio | 0.10 | 0.19 | 0.23 | 0.20 | 0.27 | 0.21 |
| Debt / FCF Ratio | 2.42 | 2.51 | 3.22 | 3.75 | 2.16 | |
| Net Debt / Equity Ratio | -0.16 | -0.19 | -0.18 | -0.20 | 0.01 | -0.71 |
| Net Debt / FCF Ratio | -2.34 | -1.94 | -3.06 | 0.12 | -7.29 | |
| Return on Equity (ROE) | 11.95% | 11.14% | 10.41% | 13.89% | 11.66% | 14.72% |
| Return on Assets (ROA) | 1.68% | 1.59% | 1.50% | 1.89% | 1.37% | 1.61% |
| Earnings Yield | 5.28% | 5.97% | 6.61% | 8.29% | 5.39% | 8.25% |
| FCF Yield | 2.58% | 4.26% | 5.91% | 4.39% | 3.95% | 5.73% |
| Dividend Yield | 1.75% | 1.48% | 1.56% | 1.33% | 1.01% | 1.18% |
| Payout Ratio | 28.63% | 73.43% | 23.74% | 16.05% | 17.30% | 19.22% |
| Buyback Yield / Dilution | -8.96% | 1.85% | 1.41% | -26.46% | -5.55% | -2.42% |
| Total Shareholder Return | -7.22% | 3.33% | 2.97% | -25.13% | -4.54% | -1.25% |