Bank First Corporation reports recurring developments tied to community banking through Bank First, N.A., including consumer and commercial lending, deposit products, treasury management, digital banking, credit cards and related insurance services in Wisconsin and the Stateline area of Illinois.
Company news commonly covers quarterly earnings, loan and deposit growth, net interest margin conditions, tangible book value, dividends and acquisition integration. Following the completed Centre 1 Bancorp acquisition, updates also include trust, wealth planning and investment management services added to the Bank First platform.
Bank First Corporation (NASDAQ: BFC) reported a net income of $11.5 million for Q4 2020, up from $7.5 million in Q4 2019. For the full year, net income rose to $38.0 million, compared to $26.7 million in 2019. Net interest income (NII) increased by $5.7 million year-over-year, reaching $24.5 million in Q4 2020. The bank declared a quarterly dividend of $0.21 per share, payable on April 7, 2021. Total assets grew to $2.72 billion, and the loan portfolio expanded by $455.1 million over the year.
Bank First Corporation (NASDAQ: BFC) reported a net income of $11.0 million, or $1.42 per share, for Q3 2020, up from $6.7 million a year ago. For the first nine months, net income reached $26.5 million, a significant rise from $19.2 million in 2019. Net interest income increased to $22.9 million in Q3, boosted by acquisitions. The net interest margin was 3.84%. Total assets grew to $2.64 billion. The bank declared a quarterly dividend of $0.21 per share, payable on January 6, 2021.