Bank First National Corp ( (BFC) ) has released its Q1 earnings. Here is a breakdown of the information Bank First National Corp presented to its investors.
Bank First Corporation, a financial services provider through its subsidiary Bank First, N.A., operates primarily in Wisconsin, offering a range of banking products and services including loans, deposits, and treasury management. The company has expanded through acquisitions and new branch openings, and also provides insurance services in partnership with Ansay & Associates, LLC.
In its latest earnings report for the first quarter of 2025, Bank First announced a net income of $18.2 million, translating to earnings of $1.82 per share, marking a 20.53% increase from the previous year. The company declared a quarterly cash dividend of $0.45 per share, consistent with the prior quarter and significantly higher than the same quarter last year.
Key financial highlights include a net interest income of $36.5 million, an increase from both the previous quarter and the same quarter last year. The net interest margin improved slightly to 3.65%. Noninterest income rose to $6.6 million, driven by increased service charges and a positive valuation adjustment on mortgage servicing rights. The bank also benefited from a $2.3 million death benefit related to its life insurance portfolio.
The bank’s total assets grew to $4.51 billion, with loans and deposits also seeing increases. Asset quality improved, with nonperforming assets decreasing significantly from the previous year. The bank’s capital position strengthened, with stockholders’ equity rising to $648.4 million.
Looking ahead, Bank First remains focused on maintaining its strong financial performance through strategic growth in loans and deposits, while continuing to manage its asset quality and capital position effectively.