Core Insights - BankFirst Capital Corporation reported a significant increase in net income for the fourth quarter of 2025, reaching $10.17 million or $1.74 per common share, compared to $5.20 million or $0.83 per common share in the previous quarter and $7.67 million or $1.21 per common share in the same quarter of 2024 [1][4][6] Financial Performance - Net interest income for the fourth quarter of 2025 was $27.87 million, up from $22.23 million in the fourth quarter of 2024 [4][11] - Total assets increased by 17.7% to $3.30 billion as of December 31, 2025, compared to $2.80 billion a year earlier [4][7] - Total gross loans rose by 19% to $2.20 billion, up from $1.85 billion at the end of 2024 [4][7] - Total deposits increased by 19% to $2.80 billion, compared to $2.36 billion at the end of 2024 [4][8] Credit Quality - The ratio of non-performing assets to total assets improved to 0.45% as of December 31, 2025, down from 0.61% a year earlier [4][16] - The allowance for credit losses was $28.81 million, representing 1.31% of total loans, compared to 1.27% at the end of 2024 [17] Capital Management - The Company has a stock repurchase program authorized for up to $10 million, with 127,583 shares repurchased as of December 31, 2025 [4][6] - The Company issued $175 million of senior perpetual noncumulative preferred stock to the U.S. Department of the Treasury as part of the Emergency Capital Investment Program [4][6] Strategic Developments - The completion of the Magnolia Acquisition in July 2025 has been a key driver of growth, with the integration of Magnolia State Bank into the Company's operations [6][7] - The Company is focused on leveraging its increased scale to enhance value for customers and shareholders while maintaining strong credit quality [6]

Core Viewpoint - BankFirst Capital Corporation reported a decrease in net income for the third quarter of 2025, attributed to the impact of the Magnolia Acquisition and increased provisions for credit losses, despite strong growth in total assets and loans [1][4][14]. Financial Performance - Net income for Q3 2025 was $5.20 million, or $0.83 per share, down from $6.88 million, or $1.07 per share in Q2 2025, and $6.36 million, or $0.97 per share in Q3 2024 [1][9]. - Net interest income increased to $28.82 million in Q3 2025 from $23.07 million in Q2 2025 and $21.21 million in Q3 2024 [8][11]. - Noninterest income was $7.12 million in Q3 2025, a slight increase from $7.06 million in Q2 2025 but a decrease from $7.46 million in Q3 2024 [11]. Asset and Loan Growth - Total assets reached $3.34 billion as of September 30, 2025, up from $2.85 billion at June 30, 2025, and $2.80 billion at September 30, 2024, marking a 17% increase year-over-year [5][9]. - Total loans outstanding were $2.17 billion as of September 30, 2025, compared to $1.81 billion at both June 30, 2025, and September 30, 2024, reflecting a 20% increase [5][9]. Deposit Growth - Total deposits increased to $2.84 billion as of September 30, 2025, up 19% from $2.38 billion at June 30, 2025, and 21% from $2.35 billion at September 30, 2024 [6][9]. - Non-interest-bearing deposits were $636.10 million, a 24% increase from $514.38 million at June 30, 2025, and a 21% increase from $529.5 million at September 30, 2024 [6][9]. Cost of Funds and Interest Margin - The consolidated cost of funds was 1.93% for Q3 2025, slightly up from 1.92% in Q2 2025 but down from 2.04% in Q3 2024 [7][9]. - The net interest margin improved to 4.19% in Q3 2025, up from 3.71% in Q2 2025 and 3.44% in Q3 2024 [8][10]. Credit Quality - The company recorded a provision for credit losses of $5.71 million in Q3 2025, significantly higher than $850 thousand in Q2 2025 and $525 thousand in Q3 2024 [14]. - The ratio of non-performing assets to total assets was 0.46% as of September 30, 2025, compared to 0.49% in Q2 2025 and 0.47% in Q3 2024 [14]. Acquisition Impact - The completion of the Magnolia Acquisition on July 1, 2025, added approximately $465.61 million in assets, $358.13 million in loans, and $414.51 million in deposits to the company [9][20]. - The acquisition resulted in the company having 52 locations serving Mississippi and Alabama, with total assets of approximately $3.32 billion as of July 1, 2025 [9][20]. Capital Position - As of September 30, 2025, the company's tangible common book value per share was $22.81, with a market capitalization of $251.92 million [13][22]. - The company opted into the Community Bank Leverage Ratio framework, with a CBLR of 10.54% as of September 30, 2025, exceeding the 9.0% minimum requirement [18][22].