Bank First reported net income of $24.7 million, or $2.21 per share, for the quarter ended June 30, 2026, and $44.7 million, or $3.99 per share, for the six months ended June 30, 2026. Adjusted net income (non-GAAP) was $27.3 million for the quarter, or adjusted diluted earnings of $2.45 per share, and $52.4 million, or $4.69 per share, for the six-month period after removing acquisition-related expenses and certain asset-sale impacts. The board also declared a quarterly cash dividend of $0.60 per share, payable October 7, 2026.

Financial Highlights

  • Net income (GAAP): $24.7 million for Q2 2026; $44.7 million for six months ended June 30, 2026.
  • Earnings per common share (basic and diluted): $2.21 for Q2 2026; $3.99 for the six-month period.
  • Adjusted net income (non-GAAP): $27.3 million for Q2 2026; $52.4 million for the six-month period.
  • Adjusted earnings per common share (non-GAAP): $2.45 for Q2 2026; $4.69 for the six-month period.
  • Net interest income: $55.0 million in Q2 2026; net interest margin (taxable equivalent) of 4.13% for Q2 2026.

Business Highlights

  • Acquisition of Centre closed January 1, 2026, adding approximately $1.48 billion in assets and creating a new Trust and Wealth Management business line.
  • Trust and Wealth Management produced $1.6 million in noninterest income in Q2 2026, contributing materially to noninterest revenue versus prior periods.
  • Centre conversion: migrated Centre’s core data processing system onto Bank First’s platform during Q2 2026, enabling expected operational synergies and future cost savings.
  • Balance sheet expansion: total assets rose to $5.95 billion as of June 30, 2026, and total deposits increased to $4.99 billion, with noninterest-bearing demand deposits comprising 30.0% of total deposits.
  • Asset quality: nonperforming assets were $27.8 million on June 30, 2026 (0.47% of total assets), with a majority of nonaccrual loan balances concentrated in three customer relationships.

Original SEC Filing:

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