Bank First Corp Stock Price, News & Analysis

Bank First Corporation (NASDAQ: BFC) reported a net income of $10.5 million for Q3 2022, down from $11.2 million in Q3 2021. Earnings per share were $1.26 for the quarter and $4.15 for the nine months ended September 30, 2022. The bank declared a quarterly cash dividend of $0.25, a 13.6% increase year-over-year. The total assets increased to $3.64 billion, with loans up to $2.86 billion. However, acquisition-related expenses of $4.6 million impacted net earnings. Noninterest income fell amid a slowdown in residential mortgage lending.

Bank First Corporation (BFC) announced a merger agreement with Hometown Bancorp, Ltd, valued at approximately $124 million. Hometown shareholders can choose between $29.16 in cash or 0.3962 shares of BFC stock. The merger aims to enhance market presence in central Wisconsin, increasing lending capacity and operational efficiencies. Hometown's CEO, Tim McFarlane, will join BFC as President and on its Board of Directors. The merger is expected to close in Q4 2022, pending regulatory approvals. Combined assets post-merger will reach $4.3 billion.

Bank First Corporation (BFC) reported net income of $11.7 million for Q2 2022, a slight increase from $11.5 million in Q2 2021. Earnings per share rose to $1.55, up from $1.50 year-over-year. For the six months ended June 30, 2022, net income totaled $21.8 million, down from $23.1 million in 2021. The bank declared a quarterly cash dividend of $0.25 per share, marking a 13.6% increase from the previous quarter. Total assets were $2.96 billion with total loans increasing to $2.39 billion.

Bank First Corporation reported a net income of $10.2 million or $1.34 per share for Q1 2022, down from $11.5 million or $1.49 per share in Q1 2021. The annualized return on average assets was 1.27% and return on common equity was 12.62%. A quarterly cash dividend of $0.22 was declared, up 4.8% year-over-year. Net interest income was $22.3 million, slightly down from the previous quarter, while total assets decreased to $2.92 billion. Nonperforming assets fell to $5.4 million, improving asset quality.

Bank First Corporation has announced a merger agreement with Denmark Bancshares, Inc. in a transaction valued at approximately $119 million. Under the agreement, Denmark shareholders can choose between $38.10 in cash or stock exchange for their shares. This merger aims to enhance Bank First's market presence in Northeast Wisconsin and improve services for customers of both institutions. As of December 31, 2021, Denmark had consolidated assets of $687.6 million. Upon completion, the combined entity will manage approximately $3.6 billion in assets. The closing is expected in early Q3 2022, pending regulatory approvals.

Bank First Corporation (NASDAQ: BFC) reported net income of $11.2 million ($1.46 per share) for Q4 2021, down from $11.5 million ($1.49 per share) in Q4 2020. For the full year, net income rose to $45.4 million ($5.92 per share) from $38.0 million ($5.07 per share) in 2020. Net interest income for Q4 was $23.2 million, up $0.3 million from Q3 but down $1.2 million from last year. Loan losses provision decreased, showing improved asset quality. Noninterest income fell to $5.7 million for Q4 2021. The bank's assets increased to $2.94 billion, with strong deposit growth.

Bank First Corporation (NASDAQ: BFC) reported a net income of $11.2 million, or $1.46 per share, for Q3 2021, an increase from $11.0 million in Q3 2020. For the first nine months, earnings rose to $34.3 million, or $4.45 per share, compared to $26.5 million in 2020. Net interest income was $22.9 million, matching last year's Q3, while NIM decreased to 3.47%. Total assets increased to $2.85 billion.

The bank approved a $0.22 dividend per share, payable on January 5, 2022.

Bank First Corporation (NASDAQ: BFC) reported a net income of $11.5 million, or $1.50 per share for Q2 2021, up from $8.3 million or $1.11 per share year-over-year. For H1 2021, net income reached $23.1 million, compared to $15.6 million in H1 2020. Net interest income (NII) was $21.8 million, a slight decrease from the previous quarter but an increase from last year. The total assets stood at $2.82 billion, with total loans of $2.23 billion. A dividend of $0.21 per share and a special dividend of $0.29 per share were also declared.

Bank First Corporation (NASDAQ: BFC) reported a net income of $11.5 million or $1.49 per share for Q1 2021, up from $7.3 million or $1.03 per share YoY. Net interest income was $22.1 million, a quarterly decrease of $2.4 million but an annual increase of $3.5 million. Total assets grew to $2.85 billion, up $128.2 million from Q4 2020. The Board declared a quarterly cash dividend of $0.21 per share, set for July 7, 2021.