Business
Bank First Announces Net Income for the First Quarter of 2026
Net income of $20.0 million and earnings per common share of $1.78 for the three months ended March 31, 2026Adjusted net income (non-GAAP) of $25.1 million
About this update from Bank First Corporation
[{"type":"text","content":"Net income of $20.0 million and earnings per common share of $1.78 for the three months ended March 31, 2026Adjusted net income (non-GAAP) of $25.1 million and adjusted earnings per common share (non-GAAP) of $2.24 for the three months ended March 31, 2026, after removing the impact of one-time acquisition expenses and asset salesAnnualized growth in tangible book value (non-GAAP) of 9.1% during the first quarter of 2026Quarterly cash dividend of $0.55 per share declared, an increase of 10.0% and 22.2% over the prior quarter and prior-year first quarter, respectivelyMANITOWOC, Wis., April 16, 2026 /PRNewswire/ -- Bank First Corporation (NASDAQ: BFC) (\"Bank First\" or the \"Bank\"), the holding company for Bank First, N.A., reported net income of $20.0 million, or $1.78 per share, for the first quarter of 2026, compared with net income of $18.2 million, or $1.82 per share, for the prior-year first quarter. After removing the impact of $6.5 million of expenses related to the acquisition of Centre 1 Bancorp, Inc. (\"Centre\"), as well as $0.2 million of net gains on the sale of certain assets, the Bank reported adjusted net income (non-GAAP) of $25.1 million, or $2.24 per share, for the first quarter of 2026. There were no similar acquisition expenses or gains on sale of assets during the first quarter of 2025.\n \n \n \n \n \n \n \n\"On January 1, 2026, we successfully completed our acquisition of Centre 1 Bancorp, Inc., the holding company for First National Bank and Trust, headquartered in Beloit, Wisconsin. This acquisition marked another milestone in Bank First's long-term growth strategy and established our new Stateline Region. We are pleased to welcome their customers, employees, and shareholders into the Bank First family, and we are excited to expand our capabilities by adding experienced Trust and Wealth Management, Fraud, and Treasury Management teams. The integration of these specialized services is already enhancing our ability to deliver comprehensive financial solutions across our legacy markets, and we are actively investing in the continued build-out of our Wealth Management platform throughout our footprint. As part of our disciplined integration strategy, six overlapping First National Bank and Trust branches were permanently closed upon completion of the acquisition. In addition, we are planning to build new, ...