Bank First National Corp ( (BFC) ) has released its Q4 earnings. Here is a breakdown of the information Bank First National Corp presented to its investors.
Bank First Corporation, through its subsidiary Bank First, N.A., provides comprehensive financial services including loans, deposits, and treasury management across its 26 branches in Wisconsin, with a focus on community banking and innovative solutions.
In its latest earnings report, Bank First Corporation announced a net income of $17.5 million for the fourth quarter of 2024, a decrease from the $34.9 million reported in the same period the previous year. The full-year net income for 2024 stood at $65.6 million, reflecting a slight decline from 2023. Despite these decreases, the bank declared a quarterly dividend of $0.45 per share, marking a notable 28.6% increase from the prior year.
The financial performance of Bank First indicates some key points, including an adjusted net income of $17.4 million for the fourth quarter, which shows an improvement compared to $14.8 million in the previous year. The bank’s net interest income increased to $35.6 million, and its net interest margin was recorded at 3.61% for the quarter. Additionally, the bank experienced a favorable credit environment, with a negative provision for credit losses of $1.0 million, emphasizing its strong asset quality.
Another strategic highlight is the bank’s continued investment in higher-yielding securities and the management of its balance sheet, which saw total assets grow to $4.5 billion. The bank’s deposit growth was substantial, driven primarily by higher interest seasonal deposits.
Looking ahead, Bank First remains committed to maintaining its strong financial position, as reflected in its robust capital ratios and strategic investments. The bank’s leadership expressed confidence in its ability to navigate the financial landscape and continue delivering value to its shareholders and communities it serves.