BANKFIRST CAPITAL CORPORATION Reports Third Quarter 2025 Earnings of $5.20 Million
BankFirst Capital Corporation (OTCQX: BFCC) reported Q3 2025 net income of $5.20 million ($0.83/share) and nine-month net income of $18.5 million ($2.88/share). The company completed the Magnolia acquisition on July 1, 2025, expanding the franchise to 52 branches and pro forma assets of ~$3.32 billion. Q3 results included a $4.14 million day-one provision for credit losses tied to the acquisition. Total assets rose to $3.34 billion, gross loans to $2.20 billion (+20% YoY), and deposits to $2.84 billion (+21% YoY). Net interest income increased to $28.82 million. The company maintains $248.57 million of Senior Preferred issued to Treasury under ECIP and continues to meet ECIP Qualified Lending thresholds.
BankFirst Capital Corporation (OTCQX: BFCC) ha riportato l'utile netto del terzo trimestre 2025 di 5,20 milioni di dollari (0,83$/azione) e l'utile netto dei primi nove mesi di 18,5 milioni di dollari (2,88$/azione). L'azienda ha completato l'acquisizione Magnolia il 1° luglio 2025, espandendo la rete a 52 filiali e ad attività proforma di circa 3,32 miliardi di dollari. I risultati del terzo trimestre includono una dotazione di 4,14 milioni di dollari per perdite su crediti nel day-one legata all'acquisizione. Le attività totali sono salite a 3,34 miliardi di dollari, i prestiti lordi a 2,20 miliardi di dollari (+20% YoY), e i depositi a 2,84 miliardi di dollari (+21% YoY). Il margine di interesse netto è aumentato a 28,82 milioni di dollari. L'azienda mantiene 248,57 milioni di dollari di Senior Preferred emessi al Tesoro nell'ambito dell'ECIP e continua a soddisfare i limiti di prestito qualificati ECIP.
BankFirst Capital Corporation (OTCQX: BFCC) reportó ingreso neto del tercer trimestre de 2025 de 5,20 millones de dólares (0,83 $/acción) y ingreso neto de los primeros nueve meses de 18,5 millones de dólares (2,88 $/acción). La empresa completó la adquisición Magnolia el 1 de julio de 2025, expandiendo la franquicia a 52 sucursales y a activos pro forma de ~3,32 mil millones de dólares. Los resultados del tercer trimestre incluyeron una provisión de 4,14 millones de dólares por pérdidas crediticias de día uno vinculada a la adquisición. Los activos totales aumentaron a 3,34 mil millones de dólares, los préstamos brutos a 2,20 mil millones de dólares (+20% interanual), y los depósitos a 2,84 mil millones de dólares (+21% interanual). Los ingresos netos por intereses aumentaron a 28,82 millones de dólares. La empresa mantiene 248,57 millones de dólares de Senior Preferred emitidos al Tesoro bajo ECIP y continúa cumpliendo con los umbrales de Préstamo Calificado ECIP.
BankFirst Capital Corporation (OTCQX: BFCC)는 2025년 3분기 순이익 520만 달러(주당 0.83달러)와 9개월 순이익 1,850만 달러(주당 2.88달러)를 보고했습니다. 회사는 Magnolia 인수를 2025년 7월 1일 완료하여 프랜차이즈를 52개 지점으로 확장하고 프로 포르마 자산은 약 33.2억 달러에 이릅니다. 3분기 실적에는 인수와 관련된 일일 손실 충당금 414만 달러이 포함되었습니다. 총자산은 33.4억 달러로 증가했고, 대출 총액은 22억 달러(+전년동기 대비 20%), 예금은 28.4억 달러(+전년동기 대비 21%)으로 늘었습니다. 순이자 수익은 2,882만 달러로 증가했습니다. 회사는 ECIP에 따라 재무부에 의해 발행된 2억 4,857만 달러의 Senior Preferred를 유지하며 ECIP 자격 대출 임계치를 계속 충족합니다.
BankFirst Capital Corporation (OTCQX: BFCC) a annoncé un résultat net du T3 2025 de 5,20 millions de dollars (0,83 $/action) et un résultat net des neuf premiers mois de 18,5 millions de dollars (2,88 $/action). L'entreprise a achevé l'acquisition Magnolia le 1er juillet 2025, élargissant la franchise à 52 succursales et des actifs pro forma d'environ 3,32 milliards de dollars. Le résultat du T3 comprend une dotation de 4,14 millions de dollars pour pertes sur crédits au jour 1 liée à l'acquisition. Les actifs totaux ont augmenté à 3,34 milliards de dollars, les prêts bruts à 2,20 milliards de dollars (+20 % d'une année sur l'autre), et les dépôts à 2,84 milliards de dollars (+21 % d'une année sur l'autre). Le produit net d'intérêts a augmenté pour atteindre 28,82 millions de dollars. L'entreprise conserve 248,57 millions de dollars de Senior Preferred émis au Trésor dans le cadre d'ECIP et continue de respecter les seuils de prêt qualifié ECIP.
BankFirst Capital Corporation (OTCQX: BFCC) berichtete Nettoeinkommen im Q3 2025 von 5,20 Mio. USD (0,83 USD/Aktie) und Nettoeinkommen der ersten neun Monate von 18,5 Mio. USD (2,88 USD/Aktie). Das Unternehmen hat die Magnolia-Übernahme am 1. Juli 2025 abgeschlossen, wodurch die Franchise auf 52 Filialen erweitert wurde und pro forma Vermögenswerte von ca. 3,32 Milliarden USD entstanden sind. Das Q3-Ergebnis beinhaltet eine Tag-1-Pufferung von 4,14 Mio. USD für Kreditausfälle im Zusammenhang mit der Übernahme. Die Gesamtaktiva stiegen auf 3,34 Milliarden USD, die bruto Darlehen auf 2,20 Milliarden USD (+YoY 20%), und die Einlagen auf 2,84 Milliarden USD (+YoY 21%). Das Net Interest Income stieg auf 28,82 Millionen USD. Das Unternehmen hält weiterhin 248,57 Millionen USD an Senior Preferred, emittiert an das Treasury unter ECIP, und erfüllt weiterhin die ECIP Qualified Lending-Schwellen.
BankFirst Capital Corporation (OTCQX: BFCC) أظهرت دخل صافي للربع الثالث من عام 2025 يبلغ 5.20 مليون دولار (0.83 دولار/سهم) ودخل صافي للفترة التسعة أشهر الأولى يبلغ 18.5 مليون دولار (2.88 دولار/سهم). أكملت الشركة استحواذ Magnolia في 1 يوليو 2025، موسّعة الحصة إلى 52 فرعاً وبأصول برو-فورما تقارب 3.32 مليار دولار. النتائج للربع الثالث تضمنت مخصصاً في يوم الافتتاح بمقدار 4.14 مليون دولار لخصوم القروض المرتبطة بالاستحواذ. ارتفعت الأصول الإجمالية إلى 3.34 مليار دولار، القروض الإجمالية إلى 2.20 مليار دولار (+20% على أساس سنوي)، والودائع إلى 2.84 مليار دولار (+21% على أساس سنوي). ارتفع صافي دخل الفوائد إلى 28.82 مليون دولار. تحافظ الشركة على 248.57 مليون دولار من Senior Preferred المُصدَرة للخزينة بموجب ECIP وتواصل تلبية عتبات الإقراض المؤهلة بموجب ECIP.
BankFirst Capital Corporation (OTCQX: BFCC) 报告 2025年第三季度净利润为520万美元（每股0.83美元），以及 前九个月净利润为1850万美元（每股2.88美元）。公司在 2025年7月1日完成 Magnolia 收购，将特许经营扩展至52家分行，前提资产约为33.2亿美元。第三季度结果包含与并购相关的日初信用损失拨备414万美元。总资产上升至33.4亿美元，毛贷款为22亿美元（同比+20%），存款为28.4亿美元（同比+21%）。净利息收入增至2882万美元。公司维持由财政部通过 ECIP 发行的2.4857亿美元的 Senior Preferred，并继续达到 ECIP 合格放贷门槛。
- Total assets +17% to $3.34B (Sep 30, 2025)
- Total loans +20% to $2.20B (Sep 30, 2025)
- Total deposits +21% to $2.84B (Sep 30, 2025)
- Net interest income increased to $28.82M in Q3 2025
- Completed Magnolia acquisition effective July 1, 2025
- Q3 2025 net income fell to $5.20M from $6.88M in Q2 2025
- Provision for credit losses rose to $5.71M in Q3 2025
- Net loan charge-offs increased to $2.18M in Q3 2025
- $248.57M Senior Preferred outstanding to Treasury under ECIP
Third Quarter 2025 Highlights:
- As previously announced, on July 1, 2025, the Company completed its acquisition of The Magnolia State Corporation ("Magnolia"), parent company of Magnolia State Bank,
Bay Springs, Mississippi ("Magnolia Bank") for all cash consideration (the "Magnolia Acquisition"). On June 30, 2025, Magnolia Bank had total assets of$465.61 million $358.13 million $414.51 million $4.14 million Mississippi andAlabama , with total assets of approximately$3.32 billion $2.20 billion $2.80 billion - Net income totaled
$5.20 million $0.83 $6.36 million $0.97 $4.14 million $8.3 million $1.39 - Net interest income totaled
$28.82 million $21.21 million - Total assets increased
17% to$3.34 billion $2.80 billion - Total gross loans equaled
$2.20 billion 20% from$1.84 billion - Total deposits increased
21% to$2.84 billion $2.35 billion - Credit quality remains strong with the ratio of non-performing assets (excluding restructured loans) to total assets equal to
0.46% as of September 30, 2025 compared to0.47% September 30, 2024.
Recent Developments
- As previously reported, on May 21, 2025, the Company's Board of Directors authorized a 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 and assumed an additional$43.57 million $30.0 million $683 thousand $94 thousand $248.57 million - As previously disclosed, the Company entered into an ECIP Securities Purchase Option Agreement (the "ECIP Option Agreement") with the 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 September 30, 2025, the Company has met the Qualified Lending Condition for the past 14 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 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, "The third quarter of 2025 was an exciting time for BankFirst, as we formally completed the Magnolia Acquisition effective on July 1, 2025. We remain focused on completing the core data processing systems conversion in November 2025 and look forward to fully welcoming our new colleagues and customers into the BankFirst family. We are also proud of the strong third quarter financial results that we achieved, highlighted by our net interest margin expansion supported by our increasing loan yields and declining Bank cost of funds."
Financial Condition and Results of Operations
Total assets were
Total deposits as of September 30, 2025 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 September 30, 2025, tangible common book value per share (non-GAAP) was
Credit Quality
The Company recorded a provision for credit losses of
The Company recorded
As of September 30, 2025, the allowance for credit losses equaled
The Company continues to closely monitor the ongoing economic uncertainty, especially in the commercial real estate market. Accordingly, additional provisions for credit losses may be necessary in future periods.
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
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Basel III |
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Basel III |
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Basel III |
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Total Risk-Based Capital (total capital to risk weighted assets) |
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8.00 % |
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2.50 % |
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10.50 % |
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Tier 1 Risk-Based Capital (tier 1 to risk weighted assets) |
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6.00 % |
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2.50 % |
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8.50 % |
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Tier 1 Leverage Ratio (tier 1 to average assets)(1) |
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4.00 % |
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N/A |
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4.00 % |
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Common Equity Tier 1 Risk-Based Capital (CET1 to risk weighted assets) |
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4.50 % |
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2.50 % |
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7.00 % |
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__________________________________________ |
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(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 is 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 September 30, 2025, the Bank's bank-only CBLR amounted to
Included in shareholders' equity at September 30, 2025 was an unrealized loss in accumulated other comprehensive income of
Our investment securities portfolio made up
Merger and Acquisition Activity
As previously disclosed, the Company completed the Magnolia Acquisition on July 1, 2025 and paid a fixed amount of cash consideration. Although the Company believes that the exact amounts of the purchase accounting adjustments have been finalized, future revisions may be necessary. The following table presents the estimated impact on certain financial information for the Company (in thousands, except per share data):
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June 30 |
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Post Merger |
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Total assets |
$ 2,850,302 |
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$ 3,317,768 |
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Securities available for sale at fair value |
244,971 |
|
293,455 |
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Securities held to maturity |
251,282 |
|
297,827 |
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Gross loans |
1,837,669 |
|
2,191,596 |
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Goodwill and other intangible assets |
75,862 |
|
100,361 |
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Total deposits |
2,379,532 |
|
2,793,871 |
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Total stockholders' equity |
404,561 |
|
404,561 |
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|
|
|
|
|
Common shares outstanding |
5,437,657 |
|
5,437,657 |
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Tangible common equity per share * |
$ 26.39 |
|
$ 21.24 |
|
Common equity per share |
$ 39.70 |
|
$ 39.70 |
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* Goodwill and Intangibles included in calculation are net of deferred tax liability |
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ABOUT BANKFIRST CAPITAL CORPORATION
BankFirst Capital Corporation (OTCQX: BFCC) is a registered bank holding company headquartered in
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
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
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
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
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
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BankFirst Capital Corporation |
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September 30 |
|
June 30 |
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March 31 |
|
December 31 |
|
September 30 |
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2025 |
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2025 |
|
2025 |
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2024 |
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2024 |
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Assets |
|
|
|
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|
|
|
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Cash and due from banks |
$ 94,010 |
|
$ 153,940 |
|
$ 115,209 |
|
$ 120,675 |
|
$ 105,825 |
|
Interest bearing bank balances |
162,841 |
|
90,881 |
|
172,725 |
|
68,530 |
|
93,784 |
|
Federal funds sold |
38,350 |
|
- |
|
- |
|
125 |
|
50 |
|
Securities available for sale at fair value |
286,721 |
|
244,971 |
|
225,933 |
|
227,143 |
|
234,474 |
|
Securities held to maturity |
293,590 |
|
297,827 |
|
302,567 |
|
307,152 |
|
311,756 |
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|
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|
|
|
|
|
|
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Loans |
2,198,196 |
|
1,837,669 |
|
1,819,682 |
|
1,853,402 |
|
1,835,311 |
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Allowance for credit losses |
(27,579) |
|
(24,050) |
|
(23,541) |
|
(23,527) |
|
(23,301) |
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Loans, net of allowance for credit losses |
2,170,617 |
|
1,813,619 |
|
1,796,141 |
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1,829,875 |
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1,812,010 |
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Premises and equipment |
90,717 |
|
75,013 |
|
71,892 |
|
69,423 |
|
68,035 |
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Interest receivable |
12,971 |
|
11,909 |
|
11,911 |
|
11,938 |
|
11,811 |
|
Goodwill |
83,630 |
|
66,965 |
|
66,966 |
|
66,966 |
|
66,966 |
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Other intangible assets |
16,731 |
|
8,897 |
|
9,283 |
|
9,669 |
|
10,074 |
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Other |
91,495 |
|
86,280 |
|
84,942 |
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87,775 |
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87,312 |
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Total assets |
$ 3,341,673 |
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$ 2,850,302 |
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$ 2,857,569 |
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$ 2,799,271 |
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$ 2,802,097 |
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Liabilities and Stockholders' Equity |
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Liabilities |
|
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|
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Noninterest bearing deposits |
$ 639,101 |
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$ 514,375 |
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$ 533,144 |
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$ 538,708 |
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$ 529,533 |
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Interest bearing deposits |
2,204,028 |
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1,865,157 |
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1,873,165 |
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1,816,976 |
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1,823,231 |
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Total deposits |
2,843,129 |
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2,379,532 |
|
2,406,309 |
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2,355,684 |
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2,352,764 |
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Notes payable |
23,458 |
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14,180 |
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4,718 |
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5,255 |
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5,793 |
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Subordinated debt |
22,123 |
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22,128 |
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22,132 |
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22,137 |
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22,142 |
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Interest payable |
7,812 |
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7,770 |
|
7,130 |
|
7,489 |
|
7,955 |
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Other |
27,202 |
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22,131 |
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19,721 |
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18,492 |
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21,043 |
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Total liabilities |
2,923,724 |
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2,445,741 |
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2,460,010 |
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2,409,057 |
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2,409,697 |
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Stockholders' Equity |
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Preferred stock |
196,706 |
|
188,680 |
|
188,680 |
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188,680 |
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188,680 |
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Common stock |
1,630 |
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1,631 |
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1,633 |
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1,629 |
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1,629 |
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Additional paid-in capital |
62,625 |
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63,178 |
|
63,000 |
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63,022 |
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62,731 |
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Retained earnings |
163,531 |
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159,013 |
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153,221 |
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147,889 |
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146,759 |
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Accumulated other comprehensive income |
(6,543) |
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(7,941) |
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(8,975) |
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(11,006) |
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(7,399) |
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Total stockholders' equity |
417,949 |
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404,561 |
|
397,559 |
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390,214 |
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392,400 |
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Total liabilities and stockholders' equity |
$ 3,341,673 |
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$ 2,850,302 |
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$ 2,857,569 |
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$ 2,799,271 |
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$ 2,802,097 |
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|
|
|
|
|
|
|
|
|
|
Common shares outstanding |
5,432,924 |
|
5,437,657 |
|
5,444,362 |
|
5,429,273 |
|
5,431,551 |
|
Book value per common share |
$ 40.72 |
|
$ 39.70 |
|
$ 38.37 |
|
$ 37.12 |
|
$ 37.51 |
|
Tangible book value per common share |
$ 22.81 |
|
$ 26.39 |
|
$ 25.00 |
|
$ 23.66 |
|
$ 23.97 |
|
|
|
|
|
|
|
|
|
|
|
|
Securitites held to maturity (fair value) |
$ 254,010 |
|
$ 253,377 |
|
$ 256,204 |
|
$ 255,879 |
|
$ 271,129 |
|
BankFirst Capital Corporation |
|||||||
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended |
|
For the Nine Months Ended |
||||
|
|
September |
|
June |
|
September |
|
September |
|
|
2025 |
|
2025 |
|
2025 |
|
2024 |
|
Interest Income |
|
|
|
|
|
|
|
|
Interest and fees on loans |
$ 36,548 |
|
$ 29,142 |
|
$ 94,110 |
|
$ 83,274 |
|
Taxable securities |
3,798 |
|
3,475 |
|
10,402 |
|
10,135 |
|
Tax-exempt securities |
664 |
|
543 |
|
1,731 |
|
1,551 |
|
Federal funds sold |
439 |
|
- |
|
439 |
|
26 |
|
Interest bearing bank balances |
1,394 |
|
1,481 |
|
4,037 |
|
2,344 |
|
Total interest income |
42,843 |
|
34,641 |
|
110,719 |
|
97,330 |
|
|
|
|
|
|
|
|
|
|
Interest Expense |
|
|
|
|
|
|
|
|
Deposits |
13,332 |
|
11,167 |
|
35,409 |
|
33,637 |
|
Short-term borrowings |
- |
|
- |
|
- |
|
14 |
|
Debentures |
188 |
|
120 |
|
428 |
|
- |
|
Other borrowings |
508 |
|
287 |
|
1,070 |
|
1,558 |
|
Total interest expense |
14,028 |
|
11,574 |
|
36,907 |
|
35,209 |
|
|
|
|
|
|
|
|
|
|
Net Interest Income |
28,815 |
|
23,067 |
|
73,812 |
|
62,121 |
|
|
|
|
|
|
|
|
|
|
Provision for Credit Losses |
5,706 |
|
850 |
|
7,156 |
|
1,575 |
|
|
|
|
|
|
|
|
|
|
Net Interest Income After Provision for Loan Losses |
23,109 |
|
22,217 |
|
66,656 |
|
60,546 |
|
|
|
|
|
|
|
|
|
|
Noninterest Income |
|
|
|
|
|
|
|
|
Service charges on deposit accounts |
2,609 |
|
2,374 |
|
7,355 |
|
7,503 |
|
Mortgage income |
829 |
|
758 |
|
2,346 |
|
2,350 |
|
Interchange income |
1,383 |
|
1,862 |
|
4,537 |
|
4,466 |
|
Net realized gains (losses) on available-for-sale securities |
- |
|
1 |
|
1 |
|
(194) |
|
Gains (losses) on retirement of subordinated debt |
- |
|
- |
|
- |
|
956 |
|
Grant Income |
- |
|
- |
|
- |
|
280 |
|
Other |
2,294 |
|
2,065 |
|
6,566 |
|
6,602 |
|
Total noninterest income |
7,115 |
|
7,060 |
|
20,805 |
|
21,963 |
|
|
|
|
|
|
|
|
|
|
Noninterest Expense |
|
|
|
|
|
|
|
|
Salaries and employee benefits |
13,384 |
|
11,344 |
|
36,153 |
|
33,250 |
|
Net occupancy expenses |
1,651 |
|
1,329 |
|
4,295 |
|
3,864 |
|
Equipment and data processing expenses |
2,040 |
|
1,802 |
|
5,655 |
|
5,537 |
|
Other |
6,575 |
|
5,780 |
|
17,852 |
|
17,056 |
|
Total noninterest expense |
23,650 |
|
20,255 |
|
63,955 |
|
59,707 |
|
|
|
|
|
|
|
|
|
|
Income Before Income Taxes |
6,574 |
|
9,022 |
|
23,506 |
|
22,802 |
|
|
|
|
|
|
|
|
|
|
Provision for Income Taxes |
1,371 |
|
2,139 |
|
4,994 |
|
4,913 |
|
|
|
|
|
|
|
|
|
|
Net Income |
$ 5,203 |
|
$ 6,883 |
|
$ 18,512 |
|
$ 17,889 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic/Diluted Earnings Per Common Share |
$ 0.83 |
|
$ 1.07 |
|
$ 2.88 |
|
$ 2.99 |
|
BankFirst Capital Corporation |
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended |
||||||||
|
|
September |
|
June |
|
March |
|
December |
|
September |
|
|
2025 |
|
2025 |
|
2025 |
|
2024 |
|
2024 |
|
Interest Income |
|
|
|
|
|
|
|
|
|
|
Interest and fees on loans |
$ 36,548 |
|
$ 29,142 |
|
$ 28,420 |
|
$ 29,529 |
|
$ 28,810 |
|
Taxable securities |
3,798 |
|
3,475 |
|
3,129 |
|
3,338 |
|
3,336 |
|
Tax-exempt securities |
664 |
|
543 |
|
524 |
|
517 |
|
514 |
|
Federal funds sold |
439 |
|
- |
|
- |
|
- |
|
4 |
|
Interest bearing bank balances |
1,394 |
|
1,481 |
|
1,162 |
|
776 |
|
749 |
|
Total interest income |
42,843 |
|
34,641 |
|
33,235 |
|
34,160 |
|
33,413 |
|
|
|
|
|
|
|
|
|
|
|
|
Interest Expense |
|
|
|
|
|
|
|
|
|
|
Deposits |
13,332 |
|
11,167 |
|
10,910 |
|
11,507 |
|
11,748 |
|
Short-term borrowings |
- |
|
- |
|
- |
|
3 |
|
6 |
|
Debentures |
188 |
|
120 |
|
120 |
|
- |
|
- |
|
Other borrowings |
508 |
|
287 |
|
275 |
|
424 |
|
445 |
|
Total interest expense |
14,028 |
|
11,574 |
|
11,305 |
|
11,934 |
|
12,199 |
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest Income |
28,815 |
|
23,067 |
|
21,930 |
|
22,226 |
|
21,214 |
|
|
|
|
|
|
|
|
|
|
|
|
Provision for Loan Losses |
5,706 |
|
850 |
|
600 |
|
1,225 |
|
525 |
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest Income After Provision for Credit Losses |
23,109 |
|
22,217 |
|
21,330 |
|
21,001 |
|
20,689 |
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Income |
|
|
|
|
|
|
|
|
|
|
Service charges on deposit accounts |
2,609 |
|
2,374 |
|
2,372 |
|
2,477 |
|
2,579 |
|
Mortgage income |
829 |
|
758 |
|
759 |
|
791 |
|
818 |
|
Interchange income |
1,383 |
|
1,862 |
|
1,292 |
|
1,391 |
|
1,370 |
|
Net realized gains (losses) on available-for-sale securities |
- |
|
1 |
|
- |
|
- |
|
- |
|
Gains (losses) on retirement of subordinated debt |
- |
|
- |
|
- |
|
- |
|
- |
|
Grant Income |
- |
|
- |
|
- |
|
1,110 |
|
280 |
|
Other |
2,294 |
|
2,065 |
|
2,207 |
|
2,019 |
|
2,412 |
|
Total noninterest income |
7,115 |
|
7,060 |
|
6,630 |
|
7,788 |
|
7,459 |
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Expense |
|
|
|
|
|
|
|
|
|
|
Salaries and employee benefits |
13,384 |
|
11,344 |
|
11,425 |
|
10,926 |
|
10,938 |
|
Net occupancy expenses |
1,651 |
|
1,329 |
|
1,315 |
|
1,290 |
|
1,285 |
|
Equipment and data processing expenses |
2,040 |
|
1,802 |
|
1,813 |
|
1,692 |
|
1,774 |
|
Other |
6,575 |
|
5,780 |
|
5,497 |
|
5,352 |
|
6,021 |
|
Total noninterest expense |
23,650 |
|
20,255 |
|
20,050 |
|
19,260 |
|
20,018 |
|
|
|
|
|
|
|
|
|
|
|
|
Income Before Income Taxes |
6,574 |
|
9,022 |
|
7,910 |
|
9,529 |
|
8,130 |
|
|
|
|
|
|
|
|
|
|
|
|
Provision for Income Taxes |
1,371 |
|
2,139 |
|
1,484 |
|
1,864 |
|
1,767 |
|
|
|
|
|
|
|
|
|
|
|
|
Net Income |
$ 5,203 |
|
$ 6,883 |
|
$ 6,426 |
|
$ 7,665 |
|
$ 6,363 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic/Diluted Earnings Per Common Share |
$ 0.83 |
|
$ 1.07 |
|
$ 0.98 |
|
$ 1.21 |
|
$ 0.97 |
|
BankFirst Capital Corporation |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30 |
|
June 30 |
|
March 31 |
|
December 31 |
|
September 30 |
|
Asset Quality |
|
2025 |
|
2025 |
|
2025 |
|
2024 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual Loans |
|
14,883 |
|
13,889 |
|
14,683 |
|
17,051 |
|
13,182 |
|
Restructured Loans |
|
5,072 |
|
3,679 |
|
3,705 |
|
3,730 |
|
4,599 |
|
OREO |
|
293 |
|
- |
|
- |
|
- |
|
- |
|
90+ still accruing |
|
41 |
|
403 |
|
- |
|
139 |
|
31 |
|
Non-performing Assets (excluding restructured)1 |
|
15,217 |
|
14,292 |
|
14,683 |
|
17,190 |
|
13,213 |
|
Allowance for credit loss to total loans |
|
1.25 % |
|
1.31 % |
|
1.29 % |
|
1.27 % |
|
1.27 % |
|
Allowance for credit loss to non-performing assets1 |
|
181 % |
|
168 % |
|
160 % |
|
137 % |
|
176 % |
|
Non-performing assets1 to total assets |
|
0.46 % |
|
0.49 % |
|
0.51 % |
|
0.61 % |
|
0.47 % |
|
Non-performing assets1 to total loans and OREO |
|
0.69 % |
|
0.76 % |
|
0.81 % |
|
0.92 % |
|
0.72 % |
|
Annualized net charge-offs to average loans |
|
0.11 % |
|
0.02 % |
|
0.03 % |
|
0.04 % |
|
0.05 % |
|
Net charge-offs (recoveries) |
|
2,177 |
|
341 |
|
586 |
|
698 |
|
944 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital Ratios 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CET1 Ratio |
|
5.88 % |
|
8.09 % |
|
7.86 % |
|
7.38 % |
|
7.36 % |
|
CET1 Capital |
|
130,669 |
|
151,445 |
|
145,109 |
|
139,438 |
|
137,619 |
|
Tier 1 Ratio |
|
15.39 % |
|
18.95 % |
|
18.88 % |
|
18.15 % |
|
18.25 % |
|
Tier 1 Capital |
|
342,002 |
|
354,752 |
|
348,426 |
|
342,755 |
|
340,941 |
|
Total Capital Ratio |
|
16.64 % |
|
20.24 % |
|
20.14 % |
|
19.80 % |
|
19.90 % |
|
Total Capital |
|
369,806 |
|
378,802 |
|
371,689 |
|
373,875 |
|
371,820 |
|
Risk Weighted Assets |
|
2,222,690 |
|
1,871,561 |
|
1,845,892 |
|
1,888,177 |
|
1,868,584 |
|
Tier 1 Leverage Ratio |
|
10.54 % |
|
12.77 % |
|
12.51 % |
|
12.56 % |
|
12.50 % |
|
Total Average Assets for Leverage Ratio |
|
3,244,522 |
|
2,777,925 |
|
2,784,824 |
|
2,728,206 |
|
2,728,597 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30 |
|
June 30 |
|
March 31 |
|
December 31 |
|
September 30 |
|
|
2025 |
|
2025 |
|
2025 |
|
2024 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
Book value per common share - GAAP |
$ 40.72 |
|
$ 39.70 |
|
$ 38.37 |
|
$ 37.12 |
|
$ 37.51 |
|
Total common stockholders' equity - GAAP |
221,243 |
|
215,881 |
|
208,879 |
|
201,545 |
|
203,720 |
|
Adjustment for Intangibles |
97,343 |
|
72,377 |
|
72,744 |
|
73,112 |
|
73,500 |
|
Tangible common stockholders' equity - non-GAAP |
123,900 |
|
143,504 |
|
136,135 |
|
128,433 |
|
130,220 |
|
Tangible book value per common share - non-GAAP |
$ 22.81 |
|
$ 26.39 |
|
$ 25.00 |
|
$ 23.66 |
|
$ 23.97 |
View original content to download multimedia:https://www.prnewswire.com/news-releases/bankfirst-capital-corporation-reports-third-quarter-2025-earnings-of-5-20-million-302597534.html
SOURCE BankFirst Capital Corporation
FAQ
What did BFCC report for Q3 2025 net income and EPS?
How did the Magnolia acquisition affect BFCC's balance sheet at July 1, 2025?
Why did BFCC record a $4.14 million provision in Q3 2025?
What are BFCC's loan and deposit growth rates year-over-year as of Sep 30, 2025?
How much Senior Preferred does BFCC have outstanding to the U.S. Treasury under ECIP?
When could BFCC potentially repurchase the Senior Preferred under the ECIP option?
