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Bank First Corporation - BFC STOCK NEWS

Welcome to our dedicated page for Bank First Corporation news (Ticker: BFC), a resource for investors and traders seeking the latest updates and insights on Bank First Corporation stock.

Bank First Corporation Common Stock (NASDAQ: BFC), operating through its subsidiary Bank First, N.A., is a relationship-based community bank that has been serving customers since its incorporation in 1894. Headquartered in Manitowoc, Wisconsin, the bank has extended its reach with 26 banking locations across Wisconsin, including counties such as Manitowoc, Brown, Sheboygan, and Winnebago. The bank is known for its array of innovative, value-driven financial products and services designed to meet the needs of both individuals and businesses.

Bank First provides a comprehensive suite of financial services, including retail and commercial banking, investment advisory, trust services, and insurance products. The bank's offerings cover a wide range of financial needs, from credit cards and various types of loans (consumer, commercial, and real estate) to deposit services, online banking, mobile banking, and ATM processing. Additionally, Bank First collaborates with Ansay & Associates, LLC for insurance products, and partners with Legacy Private Trust and Morgan Stanley for trust and investment advisory services.

In recent years, Bank First has experienced significant growth, both organically and through strategic acquisitions. Notably, the acquisitions of Denmark Bancshares, Inc. and Hometown Bancorp, Ltd. have expanded the bank's operational scale and asset base. As of the latest financial reports, the bank maintains strong financial health with total assets amounting to approximately $4.1 billion and stockholders' equity of around $609.3 million.

The bank's financial performance has been robust, with net income for the recent quarters showing a positive trend. For instance, in the first quarter of 2024, Bank First reported a net income of $15.4 million, or $1.51 per share. This performance is consistent with the bank's historical results, reflecting its strong asset quality, effective cost management, and strategic acquisitions that have bolstered its market position.

Bank First also emphasizes shareholder value, as evidenced by its regular dividends and share repurchase programs. The bank declared a quarterly cash dividend of $0.35 per common share, reflecting a commitment to returning value to its shareholders.

Additionally, Bank First's partnerships and technological advancements play a crucial role in enhancing its service offerings. Prior to the sale of its member interest in UFS, LLC, the bank benefited from state-of-the-art digital, core, cybersecurity, managed IT, and private cloud services provided by UFS. This focus on technology ensures that Bank First remains at the forefront of banking innovation, providing its customers with secure and efficient financial services.

Overall, Bank First Corporation exemplifies a robust, community-focused financial institution that continues to evolve and grow, delivering comprehensive financial solutions while maintaining a strong commitment to its customers, shareholders, and community.

Rhea-AI Summary

Bank First (NASDAQ: BFC) has successfully implemented UFS's Empowered Core banking platform, enhancing its growth strategies by providing greater flexibility, speed to market, Fintech enablement, and acquisition capabilities. The platform build-out, initiated seven months ago, culminated in a smooth data migration on June 23, 2024, ensuring no customer impact. This upgrade strengthens Bank First's long-term partnership with UFS, which delivers high IT efficiency and support. UFS President Eric Jones highlighted the successful collaboration, noting the platform's potential for optimizing technology for regional banks.

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Bank First (NASDAQ: BFC) reported a net income of $15.4 million and earnings per common share of $1.51 for the first quarter of 2024. The company repurchased 261,340 common shares, declared a quarterly cash dividend of $0.35 per share, and recorded a provision for credit losses of $0.2 million. Total assets decreased to $4.10 billion, while total loans increased to $3.38 billion. Nonperforming assets increased to $12.5 million, and stockholders' equity rose to $609.3 million.
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Bank First Corporation reported a significant increase in net income and earnings per common share for the fourth quarter and full year of 2023. The company also declared a 16.7% increase in quarterly cash dividend, reflecting strong financial performance and growth. However, the sale of US Treasury securities resulted in a realized loss on sale, and the Bank experienced a negative valuation adjustment to its mortgage servicing rights asset.
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Bank First Corporation reports net income of $14.8 million for Q3 2023
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FAQ

What services does Bank First Corporation offer?

Bank First Corporation offers a wide range of services including retail and commercial banking, investment advisory, trust services, and insurance products.

Where is Bank First Corporation headquartered?

Bank First Corporation is headquartered in Manitowoc, Wisconsin.

How many banking locations does Bank First have?

Bank First has 26 banking locations across Wisconsin.

What recent acquisitions has Bank First Corporation made?

Recent acquisitions include Denmark Bancshares, Inc. and Hometown Bancorp, Ltd., which have significantly expanded the bank's asset base and operational scale.

How does Bank First support its shareholders?

Bank First supports its shareholders through regular dividends and share repurchase programs, reflecting its commitment to returning value.

What is the current financial health of Bank First Corporation?

As of the latest reports, Bank First Corporation has total assets of approximately $4.1 billion and stockholders' equity of around $609.3 million.

Who are Bank First's partners for investment advisory services?

Bank First partners with Legacy Private Trust and Morgan Stanley for investment advisory services.

Does Bank First offer insurance products?

Yes, insurance products are available through a partnership with Ansay & Associates, LLC.

What technological services did Bank First benefit from UFS, LLC?

Prior to selling its member interest in UFS, LLC, Bank First benefited from digital, core, cybersecurity, managed IT, and private cloud services provided by UFS.

What recent financial performance has Bank First reported?

In the first quarter of 2024, Bank First reported a net income of $15.4 million, or $1.51 per share, reflecting strong financial performance.

Bank First Corporation

Nasdaq:BFC

BFC Rankings

BFC Stock Data

856.92M
10.08M
9.93%
31.11%
1.85%
Commercial Banking
Finance and Insurance
Link
United States of America
MANITOWOC