BANKFIRST CAPITAL CORPORATION Reports Second Quarter 2026 Earnings of $8.66 Million
Rhea-AI Summary
BankFirst Capital Corporation (OTCQX: BFCC) reported second quarter 2026 net income of $8.66 million, or $1.48 per share, up from $6.88 million, or $1.07 per share, in Q2 2025. Net interest income rose 28% year over year to $29.55 million, and net interest margin improved to 3.96%. Noninterest income reached $7.73 million, up 9% from Q2 2025.
Total assets were $3.34 billion, up 17% from a year earlier, with total gross loans up 24% to $2.28 billion and deposits up 19% to $2.83 billion. The company repurchased 27,588 shares under its stock repurchase programs and reported a tangible common book value of $25.97 per share. According to BankFirst, nonperforming assets (excluding restructured loans) were 0.53% of total assets, while the allowance for credit losses remained at 1.31% of total loans.
Positive
- Net income $8.66M in Q2 2026, up from $6.88M in Q2 2025
- Earnings per share $1.48 in Q2 2026 vs. $1.07 in Q2 2025
- Net interest income $29.55M in Q2 2026, up 28% year over year
- Total assets $3.34B and loans $2.28B, up 17% and 24% year over year
- Deposits $2.83B at June 30, 2026, up 19% year over year
- Net interest margin 3.96% in Q2 2026, higher than 3.83% in Q1 2026 and 3.71% in Q2 2025
Negative
- Provision for credit losses $1.65M in Q2 2026 vs. $0.85M in Q2 2025
- Net loan charge-offs $1.18M in Q2 2026, up from $0.34M in Q2 2025
- Non-performing assets ratio 0.53% in Q2 2026 vs. 0.49% a year earlier
- Total assets down 0.6% and deposits down 0.7% vs. March 31, 2026
- Senior Preferred stock outstanding $248.57M issued to U.S. Treasury under ECIP as of June 30, 2026
AI-generated analysis. How Rhea-AI works. Not financial advice.
Second Quarter 2026 Highlights:
- Net income totaled
$8.66 million $1.48 $6.88 million $1.07 - Net interest income totaled
$29.55 million $23.07 million $6.49 million 28% . - Total assets increased
17% to$3.34 billion $2.85 billion - Total gross loans equaled
$2.28 billion 24% from$1.84 billion - Total deposits increased
19% to$2.83 billion $2.38 billion - Management believes that credit quality remains strong with the ratio of non-performing assets (excluding restructured loans) to total assets equal to
0.53% as of June 30, 2026 compared to0.49% as of June 30, 2025.
Recent Developments
- As previously reported, on May 20, 2026, the Company's Board of Directors authorized a new stock repurchase program pursuant to which the Company may repurchase up to
$10.0 million - As previously disclosed, the Company closed on the issuance of
$175.00 million U.S . Department of the Treasury ("Treasury") pursuant to the Emergency Capital Investment Program ("ECIP") in April 2022. The Company assumed an additional$43.57 million $30.00 million $30.0 million $248.57 million $777 thousand 1.25% . - As previously disclosed, the Company entered into an ECIP Securities Purchase Option Agreement (the "ECIP Option Agreement") with Treasury, pursuant to which Treasury granted to the Company an option to purchase all of the Senior Preferred. The purchase option may not be exercised unless and until at least one of the following "Threshold Conditions" defined under the Option Agreement has been met: (1) over any sixteen consecutive quarters, an average of at least
60% of the Company's Total Originations, as defined in the ECIP Disposition Policy promulgated by the Treasury (the "Policy"), qualifies as "Deep Impact Lending," as defined pursuant to the Policy (the "Deep Impact Condition"); (2) over any twenty-four consecutive quarters, an average of at least85% of the Company's Total Originations qualifies as "Qualified Lending," as defined pursuant to the Policy (the "Qualified Lending Condition"); or (3) the Senior Preferred has a dividend rate of no more than0.5% at each of six consecutive Reset Dates, as defined pursuant to the Policy. The earliest possible date by which a Threshold Condition may be met is June 30, 2026. As of June 30, 2026, the Company has not met the Deep Impact Condition but has averaged59.8% of "Deep Impact Lending" over the past 12 quarters. Management continues to focus on "Deep Impact Lending" and hopes to satisfy the Deep Impact Condition in future periods. If the Company is able to satisfy the Deep Impact Condition in future periods, then the Company may be eligible to exercise its option to repurchase the Senior Preferred as early as the first half of 2027. As of June 30, 2026, the Company has met the Qualified Lending Condition and has averaged87.7% of "Qualified Lending" for 16 consecutive quarters. Assuming the Company continues to satisfy the Qualified Lending Condition, as well as complying with the other ECIP program requirements and completing the necessary ECIP Option Agreement closing conditions, the Company may exercise its option to repurchase the Senior Preferred as early as after the second quarter of 2028. The Company cautions readers that no assurances can be made regarding (i) the Company's continued satisfaction of any of the Threshold Conditions in future periods, and (ii) the continued availability of the purchase option under the ECIP Option Agreement or the Policy in future periods due to external conditions or factors beyond the Company's control. Furthermore, the Company's future willingness or ability to exercise its option to repurchase the Senior Preferred is not guaranteed.
CEO Commentary
Moak Griffin, President and Chief Executive Officer of the Company and the Bank, stated, "We delivered steady results during the second quarter of 2026, where we increased our net income, held our balance sheet steady, maintained our cost of funds and modestly expanded our net interest margin despite the increase in market interest rates during the period. Furthermore, credit quality remains strong and we remain well above the regulatory thresholds to be deemed 'well-capitalized.' Even though persistent inflation in
Financial Condition and Results of Operations
Total assets were
Total deposits as of June 30, 2026 were
The Company's consolidated cost of funds was
The ratio of loans to deposits was
Net interest income was
Noninterest income was
Noninterest expense was
As of June 30, 2026, tangible common book value per share (non-GAAP) was
Credit Quality
For the second quarter of 2026, the Company recognized a
The Company recorded
As of June 30, 2026, the allowance for credit losses equaled
The Company continues to closely monitor credit quality in light of the ongoing economic uncertainty caused by, among other factors, the fluctuating market interest rate environment, the lingering inflationary pressures in the United Stated and our market areas, evolving
Capital Position
Capital Requirements and the Community Bank Leverage Ratio Framework – Pursuant to federal regulations, bank holding companies and banks, like the Company and the Bank, must maintain capital levels commensurate with the level of risk to which they are exposed, including the volume and severity of problem loans. Federal banking regulations implementing the international regulatory capital framework, referred to as the "Basel III Rules," apply to both depository institutions and (subject to certain exceptions not applicable to the Company) their holding companies. The Basel III Rules also establish a "capital conservation buffer" of
Basel III | Basel III | Basel III Ratio | ||||
Total Risk-Based Capital (total capital to risk weighted assets) | 8.00 % | 2.50 % | 10.50 % | |||
Tier 1 Risk-Based Capital (tier 1 to risk weighted assets) | 6.00 % | 2.50 % | 8.50 % | |||
Tier 1 Leverage Ratio (tier 1 to average assets)(1) | 4.00 % | N/A | 4.00 % | |||
Common Equity Tier 1 Risk-Based Capital (CET1 to risk weighted assets) | 4.50 % | 2.50 % | 7.00 % | |||
__________________________________________ | ||||||
(1) The capital conservation buffer is not applicable to Tier 1 Leverage Ratio. | ||||||
On September 17, 2019, the federal banking agencies jointly finalized a rule intended to simplify the Basel III regulatory capital requirements described above for qualifying community banking organizations that opt into the Community Bank Leverage Ratio ("CBLR") framework, as required by Section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The final rule became effective on January 1, 2020, and the CBLR framework became available for banks to use beginning with their March 31, 2020 Call Reports. Under the final rule, if a qualifying community banking organization opts into the CBLR framework and meets all requirements under the framework, it will be considered to have met the "well-capitalized" regulatory capital ratio requirements under the "prompt corrective action" regulations promulgated by the federal banking agencies and will not be required to report or calculate risk-based capital under the Basel III Rules. In order to qualify for the CBLR framework, a community banking organization must have a tier 1 leverage ratio of greater than
The Company and the Bank are qualifying community banking organizations and, on June 15, 2022, the Company and the Bank elected to opt into the CBLR framework. The three months ended September 30, 2025 was the first reporting period for which the Company no longer operates under the Small Bank Holding Company Policy Statement of the Board of Governors of the Federal Reserve System (the "Federal Reserve"), at which time the Company became subject to the Federal Reserve's consolidated capital requirements.
By electing to opt into the CBLR framework, the Company and the Bank are not required to report or calculate risk-based capital under the Basel III Rules described above. As of June 30, 2026, the Bank's bank-only CBLR amounted to
Included in shareholders' equity at June 30, 2026 was an unrealized loss in accumulated other comprehensive income of
Our investment securities portfolio made up
ABOUT BANKFIRST CAPITAL CORPORATION
BankFirst Capital Corporation (OTCQX: BFCC) is a registered bank holding company headquartered in Columbus, Mississippi with approximately
NON-GAAP FINANCIAL MEASURES
Some of the financial measures included in this press release are not measures of financial performance recognized in accordance with generally accepted accounting principles in the United States ("GAAP"). These non-GAAP financial measures include tangible book value per share. The Company believes these non-GAAP financial measures provide both management and investors a more complete understanding of the Company's financial position and performance. These non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP financial measures.
We classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP as in effect from time to time in the United States in our statements of income, balance sheets or statements of cash flows. Not all companies use the same calculation of these measures; therefore, this presentation may not be comparable to other similarly titled measures as presented by other companies.
A reconciliation of non-GAAP financial measures to GAAP financial measures is provided at the end of this press release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This press release contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding certain of the Company's goals and expectations with respect to future events that are subject to various risks and uncertainties, and statements preceded by, followed by, or that include the words "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions. These statements are based upon the current belief and expectations of the Company's management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include, but are not limited to: (i) the impact on us or our customers of a decline in general economic conditions and any regulatory responses thereto; (ii) slower economic growth rates or potential recession in the United States and our market areas; (iii) uncertainty or perceived instability in the banking industry as a whole; (iv) increased competition for deposits among traditional and nontraditional financial services companies, and related changes in deposit customer behavior; (v) the impact of changes in market interest rates, whether due to a continuation of the elevated interest rate environment or future reductions in interest rates and a resulting decline in net interest income; (vi) the persistent inflationary pressures in the United States and our market areas; (vii) the uncertain impacts of current and future monetary policies of the Federal Reserve; (viii) changes in unemployment rates in the United States and our market areas; (ix) adverse changes in customer spending, borrowing and savings habits; (x) elevated asset prices; (xi) declines in housing and commercial real estate values and prices; (xii) a deterioration of the credit rating for U.S. long-term sovereign debt or the impact of uncertain or changing political conditions, including federal government shutdowns and uncertainty regarding United States fiscal debt, deficit and budget matters; (xiii) cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; (xiv) severe weather, natural disasters, military conflicts (including the conflicts in the Middle East, the possible expansion of such conflicts and potential geopolitical and economic consequences), acts of terrorism, geopolitical instability, domestic civil unrest or other external events, including as a result of changes in the policies of the current U.S. presidential administration or Congress; (xv) the impact of tariffs, sanctions and other trade policies of the U.S. and its global trading counterparts and the resulting impact on the Company and its customers; (xvi) the maintenance and development of well-established and valued client relationships and referral source relationships; (xvii) acquisition or loss of key production personnel; (xviii) changes in tax laws; (xix) the risks related to the development, implementation, use and management of emerging technologies, including digital assets, artificial intelligence and machine learning; (xx) current or future litigation, regulatory examinations or other legal and/or regulatory actions; (xxi) our ability to recognize the expected benefits and synergies of our completed acquisitions; (xxii) changes in accounting principles and standards, including those related to loan loss recognition under the current expected credit loss, or CECL, methodology, and (xxiii) changes in applicable laws, regulations or policies in the United States, including those affecting our business, operations, pricing, products or services. These forward-looking statements are based on current information and/or management's good faith belief as to future events. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans or expectations contemplated by the Company will be achieved. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The forward-looking statements are made as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by applicable law. All forward-looking statements, express or implied, included in the press release are qualified in their entirety by this cautionary statement.
AVAILABLE INFORMATION
The Company maintains an Internet web site at www.BankFirstfs.com/about/investor-relations. The Company makes available, free of charge, on its web site the Company's annual reports, quarterly earnings reports, and other press releases. In addition, the OTC Markets Group maintains an Internet site that contains reports, proxy and information statements, and other information regarding the Company (at www.otcmarkets.com/stock/BFCC/overview).
The Company routinely posts important information for investors on its web site (under www.BankFirstfs.com and, more specifically, under the Investor Relations tab at www.BankFirstfs.com/about/investor-relations). The Company intends to use its web site as a means of disclosing material non-public information and for complying with its disclosure obligations under the OTC Markets Group OTCQX Rules for U.S. Banks. Accordingly, investors should monitor the Company's web site, in addition to following the Company's press releases, OTC filings, public conference calls, presentations and webcasts.
The information contained on, or that may be accessed through, the Company's web site is not incorporated by reference into, and is not a part of, this press release.
Member FDIC
BankFirst Capital Corporation | |||||||||
June 30 | March 31 | December 31 | September 30 | June 30 | |||||
2026 | 2026 | 2025 | 2025 | 2025 | |||||
Assets | |||||||||
Cash and due from banks | $ 83,900 | $ 91,193 | $ 93,000 | $ 94,010 | $ 153,940 | ||||
Interest bearing bank balances | 146,305 | 179,720 | 169,445 | 162,841 | 90,881 | ||||
Federal funds sold | - | - | - | 38,350 | - | ||||
Securities available for sale at fair value | 283,109 | 291,908 | 274,052 | 286,721 | 244,971 | ||||
Securities held to maturity | 277,937 | 285,199 | 289,417 | 293,590 | 297,827 | ||||
- | |||||||||
Loans | 2,277,308 | 2,239,845 | 2,204,793 | 2,198,196 | 1,837,669 | ||||
Allowance for credit losses | (29,890) | (29,416) | (28,808) | (27,579) | (24,050) | ||||
Loans, net of allowance for credit losses | 2,247,418 | 2,210,429 | 2,175,985 | 2,170,617 | 1,813,619 | ||||
Premises and equipment | 95,502 | 94,984 | 92,609 | 90,717 | 75,013 | ||||
Interest receivable | 13,280 | 13,099 | 12,642 | 12,971 | 11,909 | ||||
Goodwill | 83,890 | 83,890 | 83,890 | 83,630 | 66,965 | ||||
Other intangible assets | 15,007 | 15,565 | 16,122 | 16,731 | 8,897 | ||||
Bank owned life insurance | 69,632 | 69,162 | 69,149 | 68,684 | 65,935 | ||||
Other | 22,787 | 21,968 | 23,111 | 22,811 | 20,345 | ||||
Total assets | $ 3,338,767 | $ 3,357,117 | $ 3,299,422 | $ 3,341,673 | $ 2,850,302 | ||||
Liabilities and Stockholders' Equity | |||||||||
Liabilities | |||||||||
Noninterest bearing deposits | $ 619,065 | $ 619,202 | $ 606,926 | $ 639,101 | $ 514,375 | ||||
Interest bearing deposits | 2,212,441 | 2,232,579 | 2,190,848 | 2,204,028 | 1,865,157 | ||||
Total deposits | 2,831,506 | 2,851,781 | 2,797,774 | 2,843,129 | 2,379,532 | ||||
Federal funds purchased | 25 | - | - | - | - | ||||
Notes payable | 21,396 | 22,083 | 22,771 | 23,458 | 14,180 | ||||
Subordinated debt | 22,108 | 22,113 | 22,118 | 22,123 | 22,128 | ||||
Interest payable | 7,081 | 7,144 | 7,315 | 7,812 | 7,770 | ||||
Other | 26,956 | 30,609 | 30,310 | 27,202 | 22,131 | ||||
Total liabilities | 2,909,072 | 2,933,730 | 2,880,288 | 2,923,724 | 2,445,741 | ||||
Stockholders' Equity | |||||||||
Preferred stock | 196,706 | 196,706 | 196,706 | 196,706 | 188,680 | ||||
Common stock | 1,588 | 1,594 | 1,599 | 1,630 | 1,631 | ||||
Additional paid-in capital | 54,975 | 56,004 | 58,297 | 62,625 | 63,178 | ||||
Retained earnings | 182,798 | 174,918 | 167,301 | 163,531 | 159,013 | ||||
Accumulated other comprehensive income | (6,372) | (5,835) | (4,769) | (6,543) | (7,941) | ||||
Total stockholders' equity | 429,695 | 423,387 | 419,134 | 417,949 | 404,561 | ||||
Total liabilities and stockholders' equity | $ 3,338,767 | $ 3,357,117 | $ 3,299,422 | $ 3,341,673 | $ 2,850,302 | ||||
Common shares outstanding | 5,291,857 | 5,314,135 | 5,331,577 | 5,432,924 | 5,437,657 | ||||
Book value per common share | $ 44.03 | $ 42.66 | $ 41.72 | $ 40.72 | $ 39.70 | ||||
Tangible book value per common share | $ 25.97 | $ 24.57 | $ 23.58 | $ 22.81 | $ 26.39 | ||||
Securitites held to maturity (fair value) | $ 240,207 | $ 247,139 | $ 252,291 | $ 254,010 | $ 253,377 | ||||
BankFirst Capital Corporation | |||||||
For the Three Months Ended | For the Six Months Ended | ||||||
June | March | June | June | ||||
2026 | 2026 | 2026 | 2025 | ||||
Interest Income | |||||||
Interest and fees on loans | $ 36,366 | $ 35,258 | $ 71,624 | $ 57,562 | |||
Taxable securities | 3,802 | 3,565 | 7,367 | 6,604 | |||
Tax-exempt securities | 591 | 598 | 1,189 | 1,067 | |||
Interest bearing bank balances | 1,516 | 1,737 | 3,253 | 2,643 | |||
Total interest income | 42,275 | 41,158 | 83,433 | 67,876 | |||
Interest Expense | |||||||
Deposits | 12,060 | 11,986 | 24,046 | 22,077 | |||
Debentures | 120 | 120 | 240 | - | |||
Other borrowings | 543 | 547 | 1,090 | 802 | |||
Total interest expense | 12,723 | 12,653 | 25,376 | 22,879 | |||
Net Interest Income | 29,552 | 28,505 | 58,057 | 44,997 | |||
Provision for Credit Losses | 1,650 | 900 | 2,550 | 1,450 | |||
Net Interest Income After Provision for Loan Losses | 27,902 | 27,605 | 55,507 | 43,547 | |||
Noninterest Income | |||||||
Service charges on deposit accounts | 2,689 | 2,779 | 5,468 | 4,746 | |||
Mortgage income | 966 | 654 | 1,620 | 1,517 | |||
Interchange income | 2,115 | 1,793 | 3,908 | 3,154 | |||
Net realized gains (losses) on available-for-sale | 25 | 1 | 26 | 1 | |||
Other | 1,934 | 1,857 | 3,791 | 4,272 | |||
Total noninterest income | 7,729 | 7,084 | 14,813 | 13,690 | |||
Noninterest Expense | |||||||
Salaries and employee benefits | 13,774 | 13,409 | 27,183 | 22,769 | |||
Net occupancy expenses | 1,659 | 1,700 | 3,359 | 2,644 | |||
Equipment and data processing expenses | 2,198 | 2,311 | 4,509 | 3,615 | |||
Other | 6,886 | 6,999 | 13,885 | 11,277 | |||
Total noninterest expense | 24,517 | 24,419 | 48,936 | 40,305 | |||
Income Before Income Taxes | 11,114 | 10,270 | 21,384 | 16,932 | |||
Provision for Income Taxes | 2,457 | 1,876 | 4,333 | 3,623 | |||
Net Income | 8,657 | 8,394 | 17,051 | 13,309 | |||
Preferred stock dividends | (777) | (777) | (1,554) | (2,186) | |||
Net Income available to common shareholders | $ 7,880 | $ 7,617 | $ 15,497 | $ 11,123 | |||
Basic Earnings Per Common Share | $ 1.48 | $ 1.43 | $ 2.91 | $ 2.05 | |||
BankFirst Capital Corporation | |||||||||
Quarter Ended | |||||||||
June | March | December | September | June | |||||
2026 | 2026 | 2025 | 2025 | 2025 | |||||
Interest Income | |||||||||
Interest and fees on loans | $ 36,366 | $ 35,258 | $ 35,429 | $ 36,548 | $ 29,142 | ||||
Taxable securities | 3,802 | 3,565 | 3,803 | 3,798 | 3,475 | ||||
Tax-exempt securities | 591 | 598 | 580 | 664 | 543 | ||||
Federal funds sold | - | - | 246 | 439 | - | ||||
Interest bearing bank balances | 1,516 | 1,737 | 1,625 | 1,394 | 1,481 | ||||
Total interest income | 42,275 | 41,158 | 41,683 | 42,843 | 34,641 | ||||
Interest Expense | |||||||||
Deposits | 12,060 | 11,986 | 12,709 | 13,122 | 11,167 | ||||
Short-term borrowings | - | - | 2 | - | - | ||||
Debentures | 120 | 120 | 119 | 189 | 120 | ||||
Other borrowings | 543 | 547 | 563 | 508 | 287 | ||||
Total interest expense | 12,723 | 12,653 | 13,393 | 13,819 | 11,574 | ||||
Net Interest Income | 29,552 | 28,505 | 28,290 | 29,024 | 23,067 | ||||
Provision for credit losses | 1,650 | 900 | (2,906) | 5,706 | 850 | ||||
Net Interest Income After Provision for | 27,902 | 27,605 | 31,196 | 23,318 | 22,217 | ||||
Noninterest Income | |||||||||
Service charges on deposit accounts | 2,689 | 2,779 | 2,719 | 2,609 | 2,374 | ||||
Mortgage income | 966 | 654 | 721 | 828 | 758 | ||||
Interchange income | 2,115 | 1,793 | 1,908 | 1,383 | 1,862 | ||||
Net realized gains (losses) on available-for- | 25 | 1 | 21 | - | 1 | ||||
Other | 1,934 | 1,857 | 1,642 | 2,294 | 2,065 | ||||
Total noninterest income | 7,729 | 7,084 | 7,011 | 7,114 | 7,060 | ||||
Noninterest Expense | |||||||||
Salaries and employee benefits | 13,774 | 13,409 | 12,231 | 13,385 | 11,344 | ||||
Net occupancy expenses | 1,659 | 1,700 | 1,663 | 1,651 | 1,329 | ||||
Equipment and data processing expenses | 2,198 | 2,311 | 2,372 | 2,041 | 1,802 | ||||
Other | 6,886 | 6,999 | 8,557 | 6,781 | 5,780 | ||||
Total noninterest expense | 24,517 | 24,419 | 24,823 | 23,858 | 20,255 | ||||
Income Before Income Taxes | 11,114 | 10,270 | 13,384 | 6,574 | 9,022 | ||||
Provision for Income Taxes | 2,457 | 1,876 | 3,219 | 1,371 | 2,139 | ||||
Net Income | 8,657 | 8,394 | 10,165 | 5,203 | 6,883 | ||||
Preferred stock dividends | (777) | (777) | (777) | (683) | (1,093) | ||||
Net Income available to common shareholders | $ 7,880 | $ 7,617 | $ 9,388 | $ 4,520 | $ 5,790 | ||||
Basic Earnings Per Common Share | $ 1.48 | $ 1.43 | $ 1.74 | $ 0.83 | $ 1.07 | ||||
BankFirst Capital Corporation | ||||||||||
June 30 | March 31 | December 31 | September 30 | June 30 | ||||||
Asset Quality | 2026 | 2026 | 2025 | 2025 | 2025 | |||||
Nonaccrual Loans | 16,414 | 16,399 | 14,378 | 14,883 | 13,889 | |||||
Restructured Loans | 4,614 | 4,657 | 4,954 | 5,072 | 3,679 | |||||
OREO | 135 | - | - | 293 | - | |||||
90+ still accruing | 1,075 | 183 | 335 | 41 | 403 | |||||
Non-performing Assets (excluding restructured)1 | 17,624 | 16,582 | 14,713 | 15,217 | 14,292 | |||||
Allowance for credit loss to total loans | 1.31 % | 1.31 % | 1.31 % | 1.25 % | 1.31 % | |||||
Allowance for credit loss to non-performing assets1 | 171 % | 177 % | 196 % | 185 % | 168 % | |||||
Non-performing assets1 to total assets | 0.53 % | 0.49 % | 0.45 % | 0.46 % | 0.49 % | |||||
Non-performing assets1 to total loans and OREO | 0.77 % | 0.74 % | 0.67 % | 0.69 % | 0.76 % | |||||
Annualized net charge-offs to average loans | 0.05 % | 0.01 % | 0.01 % | 0.11 % | 0.02 % | |||||
Net charge-offs (recoveries) | 1,176 | 293 | 222 | 2,177 | 341 | |||||
Performance Ratios | ||||||||||
Net interest margin | 3.96 | 3.83 | 3.81 | 3.94 | 3.71 | |||||
Return on average tangible common equity | 23.52 | 23.78 | 30.09 | 13.52 | 16.56 | |||||
Return on average assets | 1.16 | 1.38 | 1.81 | 0.96 | 1.45 | |||||
Efficiency ratio | 65.76 | 67.06 | 65.83 | 66.02 | 67.23 | |||||
Earnings per share | 1.48 | 1.43 | 1.74 | 0.83 | 1.07 | |||||
Capital Ratios 2 | ||||||||||
CET1 Ratio | 6.15 % | 6.10 % | 5.75 % | 5.88 % | 8.09 % | |||||
CET1 Capital | 143,818 | 136,380 | 130,466 | 130,669 | 151,445 | |||||
Tier 1 Ratio | 15.18 % | 15.54 % | 15.07 % | 15.39 % | 18.95 % | |||||
Tier 1 Capital | 355,132 | 347,699 | 341,790 | 342,002 | 354,752 | |||||
Total Capital Ratio | 16.38 % | 16.80 % | 16.33 % | 16.64 % | 20.24 % | |||||
Total Capital | 383,132 | 375,699 | 370,598 | 369,806 | 378,802 | |||||
Risk Weighted Assets | 2,338,789 | 2,236,754 | 2,267,335 | 2,222,690 | 1,871,561 | |||||
Tier 1 Leverage Ratio | 10.95 % | 10.66 % | 10.68 % | 10.54 % | 12.77 % | |||||
Total Average Assets for Leverage Ratio | 3,243,224 | 3,260,981 | 3,199,082 | 3,244,522 | 2,777,925 | |||||
1. The restructured loan balance above includes performing and non-performing loans. The non-performing assets includes Nonaccrual loans, | ||||||||||
+90days still accruing, and OREO. The asset quality ratios are calculated using the non-performing asset balance in the above schedule which | ||||||||||
excludes restructured loans. | ||||||||||
2. Since the Company has elected the Community Bank Leverage Ratio Framework, the Company is not subject to regulatory capital requirements. | ||||||||||
This information has been prepared for informational purposes as if the Company were subject to such regulatory requirements. | ||||||||||
BankFirst Capital Corporation | |||||||||
June 30 | March 31 | December 31 | September 30 | June 30 | |||||
2026 | 2026 | 2025 | 2025 | 2025 | |||||
Book value per common share - GAAP | $ 44.03 | $ 42.66 | $ 41.72 | $ 40.72 | $ 39.70 | ||||
Total common stockholders' equity - GAAP | 232,989 | 226,681 | 222,428 | 221,243 | 215,881 | ||||
Adjustment for Intangibles | 95,543 | 96,136 | 96,731 | 97,343 | 72,377 | ||||
Tangible common stockholders' equity - non-GAAP | 137,446 | 130,545 | 125,697 | 123,900 | 143,504 | ||||
Tangible book value per common share - non-GAAP | $ 25.97 | $ 24.57 | $ 23.58 | $ 22.81 | $ 26.39 | ||||
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SOURCE BankFirst Capital Corporation