Bank First Corporation (BFC) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving.Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term sto ...

Investors might want to bet on Bank First Corporation (BFC) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a ...

Bank First Corporation (BFC) came out with quarterly earnings of $2 per share, beating the Zacks Consensus Estimate of $1.75 per share. This compares to earnings of $1.74 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +14.29%. A quarter ago, it was expected that this company would post earnings of $1.81 per share when it actually produced earnings of $1.91, delivering a surprise of +5.52%.Over the last four quarters, the comp ...

Financial Performance - Net income for Q4 2025 was $18.4 million, or $1.87 per share, up from $17.5 million, or $1.75 per share in Q4 2024, representing a 5.1% increase [3]. - For the full year 2025, net income totaled $71.5 million, or $7.23 per share, compared to $65.6 million, or $6.50 per share in 2024, marking a 9.0% increase [3]. - Adjusted net income (non-GAAP) for Q4 2025 was $19.6 million, or $2.00 per share, compared to $17.4 million, or $1.74 per share in Q4 2024, reflecting a 12.7% increase [3]. - Earnings per common share for Q4 2025 was $1.87, compared to $1.75 in Q4 2024, reflecting a year-over-year increase of 6.9% [23]. - Adjusted earnings per share (non-GAAP) increased to $2.00, compared to $1.91 in the prior period, reflecting a rise of 4.7% [25]. Assets and Liabilities - Total assets reached $4.51 billion at December 31, 2025, an increase of $85.7 million during Q4 2025, representing 7.8% annualized growth [11]. - Total liabilities increased to $3,787,721 thousand as of December 31, 2025, from $3,588,452 thousand in 2024 [29]. - Total loans were $3.60 billion at December 31, 2025, with a contraction of $25.0 million during Q4 2025 due to exiting substandard relationships [12]. - Total assets increased to $4,506,095 million from $4,420,411 million, reflecting a growth of 1.94% [24]. - Total loans amounted to $3,604,651 million, a slight decrease from $3,629,663 million [24]. Equity and Dividends - Stockholders' equity totaled $643.8 million at December 31, 2025, reflecting an increase of $4.2 million from the end of 2024 [15]. - The quarterly cash dividend was declared at $0.50 per share, an increase of 11.1% over the prior quarter and prior-year fourth quarter [5][16]. - Stockholders' equity reached $643,836 million, compared to $628,125 million, marking a growth of 2.83% [24]. - Shareholders' equity rose to $631,478 thousand in 2025, compared to $619,784 thousand in 2024 [29]. Income and Expenses - Noninterest income for Q4 2025 was $4.8 million, down from $6.0 million in the prior quarter but up from $4.5 million in Q4 2024 [9]. - Noninterest expense totaled $22.0 million in Q4 2025, compared to $21.1 million in the prior quarter, with $0.7 million related to the acquisition of Centre [10]. - Total noninterest expense for Q4 2025 was $22,012,000, an increase from $20,604,000 in Q4 2024, representing an increase of 6.8% [23]. - The company reported an income tax expense of $4,522,000 for Q4 2025, compared to $4,248,000 in Q4 2024, indicating a rise of 6.4% [23]. Interest Income and Margin - Interest income for Q4 2025 was $56,636,000, an increase from $53,754,000 in Q4 2024, representing a year-over-year growth of 5.5% [23]. - Net interest income after provision for credit losses for Q4 2025 was $40,166,000, compared to $36,561,000 in Q4 2024, reflecting a 10.5% increase [23]. - The net interest margin increased to 4.01%, compared to 3.88% in the previous period [24]. - The net interest margin improved to 4.01% for the three months ended December 31, 2025, compared to 3.61% for the same period in 2024 [27]. - The net interest margin for the year ended December 31, 2025, was 3.82%, compared to 3.65% in 2024 [29]. Efficiency Ratios - Return on average assets improved to 1.65%, up from 1.64% [24]. - Return on average common equity was 11.46%, slightly down from 11.51% [24]. - The average equity to average assets ratio was 14.39%, up from 14.29% [24]. - The annualized return of adjusted earnings on average assets (non-GAAP) was 1.76%, an increase from 1.71% in the previous period [25]. - Tangible equity to tangible assets (non-GAAP) ratio was 10.49%, up from 10.30% in the prior period, indicating improved efficiency [26].

Core Viewpoint - Bank First Corporation reported a strong financial performance for the fourth quarter and full year of 2025, with significant increases in net income and earnings per share, despite incurring merger-related expenses [1][2]. Financial Performance - Net income for Q4 2025 was $18.4 million, or $1.87 per share, up from $17.5 million, or $1.75 per share in Q4 2024 [1]. - For the full year 2025, net income reached $71.5 million, or $7.23 per share, compared to $65.6 million, or $6.50 per share in 2024 [1]. - Adjusted net income (non-GAAP) for Q4 2025 was $19.6 million, or $2.00 per share, compared to $17.4 million, or $1.74 per share in Q4 2024 [1]. - Annual adjusted net income (non-GAAP) for 2025 totaled $73.4 million, or $7.42 per share, compared to $65.0 million, or $6.45 per share in 2024 [1]. Operating Results - Net interest income (NII) for Q4 2025 was $40.2 million, an increase of $1.9 million from the previous quarter and $4.6 million from Q4 2024 [3]. - Net interest margin (NIM) improved to 4.01% in Q4 2025, up from 3.88% in the previous quarter and 3.61% in Q4 2024 [4]. Asset Quality - Nonperforming assets at December 31, 2025, were $9.0 million, down from $13.9 million in the previous quarter and $9.2 million in the prior-year fourth quarter [13]. Capital Position - Stockholders' equity was $643.8 million at December 31, 2025, an increase of $4.2 million from the end of 2024 [14]. - The book value per common share was $65.47 at December 31, 2025, compared to $63.89 at the end of 2024 [14]. Dividend Declaration - A quarterly cash dividend of $0.50 per common share was declared, representing an increase of 11.1% over the prior quarter and prior-year fourth quarter [15]. Balance Sheet - Total assets were $4.51 billion at December 31, 2025, reflecting an increase of $85.7 million during Q4 2025 [10]. - Total loans were $3.60 billion at December 31, 2025, with a contraction of $25.0 million during Q4 2025 [11]. - Total deposits were $3.70 billion at December 31, 2025, up $34.7 million from December 31, 2024 [12].

Core Insights - Bank First Corporation has completed the acquisition of Centre 1 Bancorp, Inc., enhancing its service offerings and expanding its market presence [1][2]. Group 1: Acquisition Details - The acquisition marks a significant milestone in merging two relationship-driven organizations, allowing Bank First to expand its services to include trust and wealth management [2]. - First National Bank and Trust will operate as a division of Bank First until a planned system conversion in May 2026, after which all locations will transition to the Bank First brand [3]. Group 2: Operational Impact - The combined organization will operate 38 branch locations across Wisconsin and the Stateline area of Illinois, with approximately $6 billion in assets, enhancing its service capabilities [4]. - The partnership aims to strengthen customer service across the regions by providing a comprehensive suite of wealth planning, trust administration, and investment management services [2][5]. Group 3: Leadership and Advisory - Following the acquisition, Steve Eldred, CEO of Centre, will join the Board of Directors of Bank First [5]. - Piper Sandler & Co. and Hovde Group, LLC served as financial advisors for Bank First and Centre, respectively, with legal counsel provided by Alston & Bird LLP and Barack Ferrazzano Kirschbaum & Nagelberg LLP [6].

Core Insights - Value investing remains a preferred strategy for identifying strong stocks across various market conditions, focusing on companies perceived as undervalued based on fundamental analysis [2][3] Company Analysis - Bank First National (BFC) is highlighted as a strong value stock, currently holding a Zacks Rank of 2 (Buy) and a Value grade of A [3] - BFC has a Price-to-Sales (P/S) ratio of 0.77, significantly lower than the industry average of 1.83, indicating potential undervaluation [4] - The Price-to-Cash Flow (P/CF) ratio for BFC is 16.75, closely aligning with the industry average of 16.76, with a 52-week range of 9.60 to 17.38 [5] Additional Company Insights - Business First Bancshares (BFST) is also identified as a solid value stock, with a Zacks Rank of 2 (Buy) and a Value score of A [6] - BFST has a Price-to-Book (P/B) ratio of 0.93, compared to the industry average of 1.04, suggesting it may be undervalued [6] - The P/B ratio for BFST has fluctuated between 0.85 and 1.41 over the past 52 weeks, with a median of 1.00 [6] Conclusion - Both Bank First National and Business First Bancshares are positioned as strong value stocks, supported by their favorable earnings outlook and valuation metrics [7]

Company Overview - Bank First Corporation operates as a holding company for Bank First, N.A., which has 27 banking locations across various counties in Wisconsin[92]. Income Sources - The primary source of income for the Bank is interest received on loans and investments, with a significant reliance on deposits for funding[94]. - The Bank generates additional income through net gains on the sale of loans held for sale and servicing income from those sold loans[94]. Interest Income and Expenses - Interest income for the three months ended September 30, 2025, was $55,456,000, an increase from $54,032,000 for the same period last year, representing a growth of 2.6%[96]. - Net interest income after provision for credit losses was $37,603,000 for the three months ended September 30, 2025, compared to $36,561,000 for the same period last year, reflecting an increase of 2.9%[96]. - Total interest income increased by $1.4 million, or 2.6%, to $55.4 million for the three months ended September 30, 2025, compared to $54.0 million for the same period in 2024[108]. - Interest expense decreased by $0.9 million, or 5.2%, to $17.2 million for the three months ended September 30, 2025, compared to $18.1 million for the same period in 2024[109]. - The average rate paid on interest-bearing liabilities decreased from 2.79% for the three months ended September 30, 2024, to 2.52% for the same period in 2025[107]. Noninterest Income and Expenses - Noninterest income totaled $5,953,000 for the three months ended September 30, 2025, up from $4,893,000 in the same period last year, marking a growth of 21.6%[96]. - Noninterest income increased by $1.1 million to $6.0 million for Q3 2025, up 22% from $4.9 million in Q3 2024[115]. - Noninterest expense rose by $1.0 million to $21.1 million for Q3 2025, primarily driven by outside service fees which increased by 65% to $1.8 million[118]. Net Income and Earnings - Net income for the three months ended September 30, 2025, was $17,990,000, an increase from $16,552,000 for the same period last year, representing a growth of 8.7%[96]. - Earnings per common share (diluted) for the three months ended September 30, 2025, was $1.83, compared to $1.65 for the same period last year, reflecting an increase of 10.9%[96]. - Net income for the nine months ended September 30, 2025, increased by $5.1 million to $53.1 million compared to $48.0 million for the same period in 2024[121]. Assets and Loans - Total assets as of September 30, 2025, were $4,420,411,000, an increase from $4,294,498,000 year-over-year, representing a growth of 2.9%[96]. - Loans outstanding as of September 30, 2025, were $3,629,663,000, compared to $3,470,920,000 as of September 30, 2024, indicating an increase of 4.6%[96]. - Total loans increased by $112.5 million, or 3.2%, to $3.63 billion as of September 30, 2025, compared to $3.52 billion as of December 31, 2024[151]. Deposits - Deposits as of September 30, 2025, were $3,538,761,000, a slight decrease from $3,661,073,000 year-over-year, reflecting a decline of 3.4%[96]. - Total deposits decreased to $3.54 billion as of September 30, 2025, down from $3.66 billion at December 31, 2024, reflecting a shift from noninterest-bearing to interest-bearing deposits[182]. Credit Losses and Nonperforming Loans - An Allowance for Credit Losses (ACL) is maintained to absorb potential losses on loans, established through provisions charged against operating earnings[94]. - The company recorded a provision for credit loss of $0.7 million for Q3 2025, compared to no provision in Q3 2024[113]. - Nonperforming loans totaled $13.9 million as of September 30, 2025, an increase from $8.5 million at December 31, 2024[172]. - The allowance for credit losses (ACL) on loans was $44.5 million, representing 1.23% of period-end loans[176]. Capital and Equity - Total stockholders' equity decreased to $628.1 million at September 30, 2025, down from $639.7 million at December 31, 2024[209]. - The Bank was well capitalized as of September 30, 2025, with total capital to risk-weighted assets ratio at 13.3%, exceeding the minimum required of 8.0%[218]. - The Bank's Tier 1 capital to risk-weighted assets ratio was 11.8%, significantly above the minimum requirement of 6.0%[221]. Interest Rate Risk Management - The Bank's interest rate risk management aims to minimize adverse impacts on net interest income and capital[230]. - The Company actively manages its interest rate sensitivity position to control exposure to risks associated with interest rate movements[233]. - As of September 30, 2025, a 300 basis point increase in interest rates is projected to decrease net interest income by 3.8%[240]. Securities and Investments - The fair value of securities available for sale was $167.1 million as of September 30, 2025, down from $223.1 million at December 31, 2024[192]. - The total held to maturity securities amounted to $106.823 million with a weighted average yield of 4.0%[196]. - The Company had no net losses on sales of securities during the nine months ended September 30, 2025, contrasting with net losses of $30,000 during the same period in 2024[194].

Group 1: Company Overview - Bank First Corporation (BFC) is a member of the Finance sector, which includes 867 individual stocks and currently holds a Zacks Sector Rank of 3 [2] - BFC has a Zacks Rank of 2 (Buy), indicating a positive outlook based on earnings estimates and revisions [3] Group 2: Performance Metrics - Year-to-date, BFC has gained approximately 32.1%, significantly outperforming the Finance sector's average gain of 14.2% [4] - Within the Banks - Northeast industry, which consists of 78 companies, BFC is performing better than the industry average, which has gained about 2.6% this year [5] Group 3: Comparative Analysis - Another stock in the Finance sector, Bank of Nova Scotia (BNS), has a year-to-date return of 21.4% and also holds a Zacks Rank of 2 (Buy) [4][5] - The Banks - Foreign industry, to which BNS belongs, has gained 39.1% this year, but BFC's performance remains strong within its own industry [6]

分组1 - Bank First Corporation (BFC) reported quarterly earnings of $1.91 per share, exceeding the Zacks Consensus Estimate of $1.81 per share, and up from $1.65 per share a year ago, representing an earnings surprise of +5.52% [1] - The company posted revenues of $44.21 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.62%, and an increase from $40.78 million year-over-year [2] - Bank First Corporation has outperformed the S&P 500, with shares increasing about 25.5% since the beginning of the year compared to the S&P 500's gain of 14.5% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $1.75 on revenues of $43 million, and for the current fiscal year, it is $7.10 on revenues of $171.2 million [7] - The Zacks Industry Rank for Banks - Northeast is currently in the top 27% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]