B
Bank First Corp
Period
FY 2025
Revenue
—
Net Income
$71.50M
Total Assets
$4.51B
Equity
$643.84M
Shares Out
11.16M
Op. Cash Flow
$62.48M
Business
Bank First Corporation is a Wisconsin-based bank holding company that owns Bank First, N.A., a national bank offering a full range of retail and commercial banking services, including checking and savings accounts, certificates of deposit, commercial and industrial loans, commercial real estate loans, residential mortgages, consumer loans, and digital banking. The bank operates 38 branches across 18 Wisconsin counties and one Illinois county, serving businesses, professionals, and consumers in its market areas.
Summary from 10-K filed 2026-02-27
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Loans, including fees | 204 | 189 | 169 | 107 | 93 | |
| Taxable | 11 | 10 | 8 | 6 | 3 | |
| Tax-exempt | 943,000 | 964,000 | 1 | 2 | 2 | |
| Other | 6 | 6 | 4 | — | — | |
| Total interest income | 222 | 206 | 182 | 117 | 98 | |
| Deposits | 64 | 64 | 42 | 10 | 8 | |
| Securities sold under repurchase agreements | — | 22,000 | 2 | 542,000 | 10,000 | |
| Borrowed funds | 6 | 4 | 5 | 2 | 767,000 | |
| Total interest expense | 70 | 69 | 49 | 12 | — | |
| Net interest income | 152 | 138 | 133 | 104 | 90 | |
| Provision for credit losses | 1 | −800,000 | 5 | 2 | 3 | |
| Net interest income after provision for credit losses | 150 | 139 | 129 | 102 | 87 | |
| Service charges | 8 | 8 | 7 | 6 | 6 | |
| Income from Ansay | 4 | 4 | 3 | 3 | 3 | |
| "Income from UFS, LLC (""UFS"")" | — | — | 2 | 3 | 3 | |
| Loan servicing income | 3 | 3 | 3 | 2 | 2 | |
| Valuation adjustment on MSR | 281,000 | −299,000 | 395,000 | 3 | 1 | |
| Net gain on sales of mortgage loans | 2 | 1 | 897,000 | 2 | 7 | |
| Gain on sale of UFS | — | — | 39 | — | — | |
| Other | 5 | 4 | 3 | 2 | 2 | |
| Total noninterest income | 22 | 20 | 58 | 20 | 24 | |
| Salaries, commissions, and employee benefits | 42 | 41 | 40 | 33 | 29 | |
| Occupancy | 8 | 6 | 6 | 5 | 4 | |
| Data processing | 10 | 10 | 8 | 6 | 5 | |
| Postage, stationery, and supplies | 950,000 | 932,000 | 1 | 771,000 | 713,000 | |
| Net gain on sales and valuations of OREO | −159,000 | −694,000 | 2 | −146,000 | −20,000 | |
| Net loss on sale of securities | — | 34,000 | 8 | — | 3,000 | |
| Advertising | 176,000 | 313,000 | 326,000 | 271,000 | 227,000 | |
| Charitable contributions | 972,000 | 793,000 | 944,000 | 718,000 | 534,000 | |
| Federal deposit insurance | 2 | 2 | 2 | 1 | — | |
| Outside service fees | 5 | 5 | 5 | 6 | 3 | |
| Amortization of intangibles | 5 | 6 | 6 | 2 | 1 | |
| Other | 9 | 9 | 9 | 6 | 7 | |
| Total noninterest expense | 84 | 79 | 88 | 62 | 51 | |
| Income before provision for income taxes | 88 | 80 | 99 | 60 | 60 | |
| Provision for income taxes | 17 | 14 | 24 | 14 | 15 | |
| Net Income | 71 | 66 | 75 | 45 | 45 | |
| Earnings per share - basic | 7.23 | 6.5 | 7.28 | 5.58 | 5.92 | |
| Earnings per share - diluted | 7.23 | 6.5 | 7.28 | 5.58 | 5.92 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 55 | 59 | 70 | 52 | 29 | |
| Interest-bearing deposits | 188 | 202 | 177 | 68 | 268 | |
| Cash and cash equivalents | 243 | 261 | 247 | 119 | 297 | |
| Securities held to maturity, at amortized cost ($105,146 and $109,424 fair value at December 31, 2025 and December 31, 2024, respectively) | 104 | 111 | 103 | 45 | — | |
| Securities available for sale, at fair value ($171,796 and $235,909 amortized cost at December 31, 2025 and December 31, 2024, respectively) | 164 | 223 | 142 | 305 | — | |
| Loans held for sale | 6 | 3 | 3 | 648,000 | 786,000 | |
| Loans | 3,605 | 3,517 | 3,343 | 2,894 | — | |
| "Allowance for credit losses - loans (""ACL-Loans"")" | −44 | −44 | −44 | −23 | — | |
| Loans, net | 3,560 | 3,473 | 3,299 | 2,871 | — | |
| Premises and equipment, net | 79 | 71 | 70 | 56 | 49 | |
| Goodwill | 175 | 175 | 175 | 110 | 55 | |
| Other investments | 24 | 23 | 21 | 16 | 9 | |
| Cash value of life insurance | 61 | 62 | 61 | 46 | 32 | |
| Core deposit intangibles, net | 16 | 21 | 27 | — | — | |
| "Mortgage servicing rights (""MSR"")" | 14 | 13 | 14 | 10 | 5 | |
| "Other real estate owned (""OREO"")" | — | 741,000 | 3 | 3 | 150,000 | |
| "Investment in Ansay and Associates, LLC (""Ansay"")" | 35 | 34 | 33 | 44 | 43 | |
| Other assets | 24 | 24 | 23 | 17 | 8 | |
| TOTAL ASSETS | 4,506 | 4,495 | 4,222 | 3,660 | 2,938 | |
| Interest-bearing deposits | 2,693 | 2,636 | 2,382 | 2,126 | 1,729 | |
| Noninterest-bearing deposits | 1,003 | 1,025 | 1,051 | 934 | 800 | |
| Total deposits | 3,696 | 3,661 | 3,433 | 3,060 | 2,528 | |
| Notes payable | 110 | 135 | 35 | 2 | 8 | |
| Subordinated notes | 12 | 12 | 12 | 24 | 18 | |
| Other liabilities | 45 | 47 | 42 | 24 | 20 | |
| Total liabilities | 3,862 | 3,855 | 3,602 | 3,207 | 2,615 | |
| Serial preferred stock - $0.01 par value; Authorized - 5,000,000 shares | — | — | — | — | — | |
| Common stock - $0.01 par value; Authorized - 20,000,000 shares; Issued - 11,515,130 shares as of December 31, 2025 and December 31, 2024; Outstanding - 9,834,623 and 10,012,088 shares as of December 31, 2025 and December 31, 2024, respectively | 115,000 | 115,000 | 115,000 | 101,000 | 85,000 | |
| Additional paid-in capital | 334 | 334 | 334 | 218 | 93 | |
| Retained earnings | 417 | 398 | 348 | 295 | 258 | |
| Treasury stock, at cost - 1,680,507 and 1,503,042 shares as of December 31, 2025 and December 31, 2024, respectively | −102 | −83 | −53 | −45 | — | |
| Accumulated other comprehensive loss | −5 | −9 | −9 | −16 | 4 | |
| Total stockholders' equity | 644 | 640 | 620 | 453 | 323 | |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 4,506 | 4,495 | 4,222 | 3,660 | 2,938 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net income | 71 | 66 | 75 | 45 | 45 | |
| Depreciation and amortization of premises and equipment | 2 | 2 | 2 | 2 | 2 | |
| Net accretion of securities | −3 | −3 | −2 | 315,000 | 807,000 | |
| Amortization of stock-based compensation | 2 | 2 | 2 | 2 | 1 | |
| Accretion of purchase accounting valuations | −3 | −5 | −7 | −3 | −2 | |
| Net change in deferred loan fees and costs | −772,000 | −488,000 | −1 | −881,000 | −1 | |
| Expense (benefit) from deferred income taxes | 180,000 | 2 | −2 | −869,000 | −1,000 | |
| Change in fair value of MSR and other investments | −1 | 296,000 | −693,000 | −3 | 465,000 | |
| Loss from sale and disposal of premises and equipment | 916,000 | 375,000 | 363,000 | 57,000 | −37,000 | |
| Proceeds from sales of mortgage loans | 169 | 118 | 75 | 85 | 296 | |
| Originations of mortgage loans held for sale | −171 | −117 | −76 | −84 | −290 | |
| Realized loss on sale of securities | — | 34,000 | 8 | — | 3,000 | |
| Realized gain on sale of UFS | — | — | −39 | — | — | |
| Net earnings on life insurance | −2 | −2 | −2 | −925,000 | −768,000 | |
| Increase in other assets | −1 | −3 | −2 | 3 | 2 | |
| (Decrease) increase in other liabilities | −2 | 6 | 16 | −2 | −5 | |
| Net cash provided by operating activities | 62 | 66 | 53 | 40 | 40 | |
| Activity in securities available for sale and held to maturity: Sales | — | 10 | 76 | — | 9 | |
| Activity in securities available for sale and held to maturity: Maturities, prepayments, and calls | 287 | 206 | 127 | 15 | 34 | |
| Activity in securities available for sale and held to maturity: Purchases | −213 | −302 | −27 | −142 | −94 | |
| Proceeds from other investments | — | — | 248,000 | — | — | |
| Net increase in loans | −85 | −169 | −37 | −198 | −42 | |
| Proceeds from sale of UFS | — | — | 52 | — | — | |
| Dividends received from UFS | — | — | 2 | — | — | |
| Dividends received from Ansay | 3 | 2 | 2 | — | — | |
| Proceeds from sale of OREO | 900,000 | 4 | 2 | 320,000 | 2 | |
| "Net (purchase) sales of Federal Home Loan Bank (""FHLB"") stock" | 79,000 | −1 | 262,000 | −635,000 | — | |
| "Net purchases of Federal Reserve Bank (""FRB"") stock" | — | — | −4 | −4 | — | |
| Proceeds from life insurance | 2 | 1 | — | — | 265,000 | |
| Proceeds from sale of premises and equipment | 1,000 | 2 | — | — | 548,000 | |
| Purchases of premises and equipment | −11 | −7 | −13 | −7 | −9 | |
| Net cash received in business combination | — | — | 90 | 154 | — | |
| Net cash (used in) provided by investing activities | −16 | −253 | 269 | −178 | −94 | |
| Net increase (decrease) in deposits | 35 | 228 | −159 | −73 | 208 | |
| Net decrease in securities sold under repurchase agreements | — | −76 | −21 | 56 | 5 | |
| Proceeds from advances of notes payable | 220 | 140 | 122 | 3,123 | 5 | |
| Repayment of notes payable | −246 | −40 | −93 | −3,130 | −20 | |
| Repayment of subordinated notes | — | — | −12 | — | — | |
| Repayment of junior subordinated debentures | — | −4 | −8 | — | — | |
| Dividends paid | −53 | −16 | −12 | −8 | −9 | |
| Proceeds from sales of common stock | 737,000 | 245,000 | 195,000 | 114,000 | 114,000 | |
| Repurchase of common stock | −22 | −32 | −10 | −14 | −8 | |
| Net cash (used in) provided by financing activities | −65 | 201 | −194 | −40 | 180 | |
| Net (decrease) increase in cash and cash equivalents | −18 | 14 | 128 | −178 | 127 | |
| Interest | 71 | 66 | 44 | 11 | 7 | |
| Income taxes | 16 | 14 | 24 | 14 | 17 | |
| Loans transferred to OREO | — | 412,000 | — | 24,000 | — | |
| Closed branch building transferred to OREO | — | 2 | 3 | 1 | 140,000 | |
| MSR resulting from sale of loans | 2 | 1 | 879,000 | 771,000 | 2 | |
| Amortization of unrealized holding gains on securities transferred from available for sale to held to maturity recognized in other comprehensive income, net of tax | — | — | −1,000 | −1,000 | −2,000 | |
| Change in unrealized loss on investment securities available for sale, net of tax | 4 | −639,000 | −1 | −19 | −2 |
Filings
Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro
Material Events
Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro
Insiders
Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro
Institutional Holders
Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro
Frequently asked questions
What is Bank First Corp's CIK number?
Bank First Corp's SEC CIK number is 0001746109 (1746109). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Bank First Corp's SEC filings?
All of Bank First Corp's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Bank First Corp last report earnings?
Bank First Corp (BFC) most recently filed an earnings 8-K with the SEC on Apr 16, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-044352). This is Bank First Corp's most recent earnings filing of record — not a forecast of its next earnings date.
What is Bank First Corp's most recent earnings 8-K?
Bank First Corp's latest earnings 8-K (Item 2.02) was filed Apr 16, 2026 under accession 0001104659-26-044352. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Bank First Corp's latest earnings 8-K →
Look up any company's CIK number →