Earnings per common share of $1.83 and $5.36 for the three and nine months ended September 30, 2025, respectively
Annualized return on average assets of 1.64% and 1.61% for the three and nine months ended September 30, 2025, respectively
MANITOWOC, Wis., Oct. 21, 2025 /PRNewswire/ -- Bank First Corporation (NASDAQ: BFC) ("Bank First" or the "Bank"), the holding company for Bank First, N.A., reported net income of $18.0 million, or $1.83 per share, for the third quarter of 2025, compared with net income of $16.6 million, or $1.65 per share, for the prior-year third quarter. For the nine months ended September 30, 2025, Bank First earned $53.1 million, or $5.36 per share, compared to $48.0 million, or $4.75 per share for the same period in 2024. After removing the impact of one-time expenses related to the acquisition of Centre 1 Bancorp, Inc., as well as net gains on the sales of securities and other real estate owned ("OREO"), the Bank reported adjusted net income (non-GAAP) of $18.8 million, or $1.91 per share, for the third quarter of 2025, compared with $16.5 million, or $1.65 per share, for the prior-year third quarter. For the first nine months of 2025 adjusted net income (non-GAAP) totaled $53.8 million, or $5.42 per share, compared to $47.6 million, or $4.71 per share for the same period in 2024.
"We are pleased to report that earnings per share through the first three quarters of 2025 increased by nearly 13% compared to the same period last year, despite incurring over $891,000 in merger expenses related to our acquisition of First National Bank & Trust in Beloit Wisconsin, which is scheduled to close on January 1, 2026," stated Mike Molepske, Chairman and CEO of Bank First. "This continued growth in earnings was driven by mid-single-digit loan expansion and an increase in loan yields due to repricing. We expect loan repricing to continue boosting our loan portfolio yields for some time to come."
Operating Results
Net interest income ("NII") during the third quarter of 2025 was $38.3 million, up $1.6 million from the previous quarter and up
