Bank First Announces Net Income for the Fourth Quarter of 2025

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].