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BFC logoBank First Corporation(BFC)Earnings, Financials & Key Ratios

BFC•NASDAQ•Banking & Credit
$145.75
$1.43B mkt cap·22.4× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryRegional BanksSub-IndustryCommunity and retail regional banks
AboutBank First Corporation operates as a holding company for Bank First N.A. that provides consumer and commercial financial services to businesses, professionals, consumers, associations, individuals, and governmental authorities in Wisconsin. The company offers checking, savings, money market, cash management, retirement, and health savings accounts; other time deposits; certificates of deposit; and residential mortgage products. It also provides credit cards; ATM processing; insurance; data processing and other information technology; investment and safekeeping; treasury management; and online, telephone, and mobile banking services. The company's loan products include real estate loans, including commercial real estate, residential mortgage, and home equity loans; commercial and industrial loans for working capital, accounts receivable, inventory financing, and other business purposes; construction and development loans; residential 1-4 family loans; and consumer loans for personal and household purposes, including secured and unsecured installment loans, and revolving lines of credit. It operates through 21 offices in Manitowoc, Outagamie, Brown, Winnebago, Sheboygan, Waupaca, Ozaukee, Monroe, and Jefferson counties in Wisconsin. The company was formerly known as Bank First National Corporation and changed its name to Bank First Corporation in June 2019. Bank First Corporation was founded in 1894 and is headquartered in Manitowoc, Wisconsin.Show more
  • Net Interest Income$138M+3.2%
  • Total Revenue$223M+19.7%
  • Net Income$66M-12.0%
  • Return on Equity10.41%-25.0%
  • Net Interest Margin3.07%-3.0%
  • Efficiency Ratio34.01%+86.6%
  • ROA1.5%-20.4%
  • Equity / Assets14.23%-3.1%
  • Book Value per Share63.62+4.7%
  • Tangible BV/Share42.77+8.0%
  • Debt/Equity0.23+12.3%
Technical→

BFC Key Insights

Bank First Corporation (BFC) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 19.7%
  • ✓Efficient operations: 34.0% efficiency ratio
  • ✓Well capitalized: 14.2% equity/assets
  • ✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

BFC Price & Volume

Bank First Corporation (BFC) stock price & volume — 10-year historical chart

Loading chart...

BFC Growth Metrics

Bank First Corporation (BFC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years17.37%
5 Years18.11%
3 Years24.11%
TTM-

Profit CAGR

10 Years17.91%
5 Years19.69%
3 Years13%
TTM-14.8%

EPS CAGR

10 Years12.57%
5 Years10.93%
3 Years3.28%
TTM-12.67%

Return on Capital

10 Years14.8%
5 Years14.26%
3 Years13.41%
Last Year10.28%

BFC Recent Earnings

Bank First Corporation (BFC) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (78%)●Beat Revenue 3/12 qtrs (33%)
Q2 2026Latest
Apr 16, 2026
EPS
$2.24
Est $2.40
-6.7%
Revenue
$64M
Est $66M
-3.0%
Q1 2026
Feb 27, 2026
EPS
$1.87
Revenue
$61M
Q1 2026
Jan 22, 2026
EPS
$2.00
Est $1.81
+10.5%
Revenue
$45M
Est $44M
+2.6%
Q4 2025
Oct 21, 2025
EPS
$1.91
Est $1.85
+3.2%
Revenue
$43M
Est $44M
-2.8%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 16, 2026
$2.24vs $2.40-6.7%
$64Mvs $66M-3.0%
Q1 2026Feb 27, 2026
$1.87
$61M
Q1 2026Jan 22, 2026
$2.00vs $1.81+10.5%
$45Mvs $44M+2.6%
Q4 2025Oct 21, 2025
$1.91vs $1.85+3.2%
$43Mvs $44M-2.8%
Based on last 12 quarters of dataView full earnings history →

BFC Peer Comparison

Bank First Corporation (BFC) competitors in Community and retail regional banks — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
FBIZ logoFBIZFirst Business Financial Services, Inc.Direct Competitor470.37M56.389.306.43%14.12%0.70
BWFG logoBWFGBankwell Financial Group, Inc.Direct Competitor417.32M52.3411.766.13%12.21%0.60
MNSB logoMNSBMainStreet Bancshares, Inc.Direct Competitor175.12M23.3613.27-1.44%7.26%0.32
CZWI logoCZWICitizens Community Bancorp, Inc.Direct Competitor202.59M21.0414.41-9.41%7.81%0.28
FFIN logoFFINFirst Financial Bankshares, Inc.Product Competitor4.64B32.6020.9018.79%13.25%0.12
FULT logoFULTFulton Financial CorporationProduct Competitor4.19B21.7910.485.03%11.6%0.37
IBCP logoIBCPIndependent Bank CorporationProduct Competitor696.01M33.8110.34-0.3%14.2%0.23
NBTB logoNBTBNBT Bancorp Inc.Product Competitor2.36B45.2013.5710.36%9.51%0.17

Compare BFC vs Peers

Bank First Corporation (BFC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs FBIZ

Most directly comparable listed peer for BFC.

Scale Benchmark

vs V

Larger-name benchmark to compare BFC against a more recognizable public peer.

Peer Set

Compare Top 5

vs FBIZ, BWFG, MNSB, CZWI

BFC Income Statement

Bank First Corporation (BFC) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Net Interest Income38.79M45.74M63.1M69.67M86.83M90.08M104.08M133.48M137.8M147.05M
NII Growth %7.76%17.9%37.95%10.41%24.64%3.74%15.54%28.24%3.24%35.39%
Net Interest Margin %2.95%2.61%3.52%3.15%3.19%3.07%2.84%3.16%3.07%3.33%
Interest Income44.73M53.47M77.94M89.17M100.7M98.39M116.53M182.48M206.41M218.83M
Interest Expense5.93M7.73M14.85M19.5M13.87M8.3M12.45M49M68.61M71.78M
Loan Loss Provision320K1.05M2.94M5.25M7.13M3.1M2.2M4.68M-800K250K
Non-Interest Income5.27M5.81M6.57M7.98M16.32M18.39M14.23M3.99M16.84M18.59M
Non-Interest Income %10.54%9.8%7.77%8.21%13.95%15.75%10.88%2.14%7.54%7.83%
Total Revenue
50M▲ 0%
59.28M▲ 18.6%
84.52M▲ 42.6%
97.14M▲ 14.9%
117.02M▲ 20.5%
116.78M▼ 0.2%
130.77M▲ 12.0%
186.47M▲ 42.6%
223.24M▲ 19.7%
237.42M▲ 0%
Revenue Growth %9.11%18.57%42.56%14.94%20.46%-0.2%11.98%42.6%19.72%62.45%
Non-Interest Expense21.13M26.36M34.68M38.11M46.15M45.41M56.49M33.99M75.92M78.35M
Efficiency Ratio42.26%44.46%41.04%39.23%39.44%38.88%43.2%18.23%34.01%33%
Operating Income
22.62M▲ 0%
24.14M▲ 6.7%
32.05M▲ 32.8%
34.29M▲ 7.0%
49.88M▲ 45.5%
59.97M▲ 20.2%
59.63M▼ 0.6%
98.79M▲ 65.7%
79.51M▼ 19.5%
87.05M▲ 0%
Operating Margin %45.24%40.72%37.93%35.3%42.62%51.35%45.6%52.98%35.62%36.66%
Operating Income Growth %12.26%6.72%32.79%6.98%45.46%20.23%-0.56%65.67%-19.52%-
Pretax Income
22.62M▲ 0%
24.14M▲ 6.7%
32.05M▲ 32.8%
34.29M▲ 7.0%
49.88M▲ 45.5%
59.97M▲ 20.2%
59.63M▼ 0.6%
98.79M▲ 65.7%
79.51M▼ 19.5%
87.05M▲ 0%
Pretax Margin %45.24%40.72%37.93%35.3%42.62%51.35%45.6%52.98%35.62%36.66%
Income Tax7.71M8.83M6.6M7.59M11.83M14.52M14.42M24.28M13.95M16.4M
Effective Tax Rate %34.07%36.56%20.58%22.15%23.72%24.22%24.18%24.58%17.54%18.84%
Net Income
14.91M▲ 0%
15.31M▲ 2.7%
25.46M▲ 66.2%
26.69M▲ 4.9%
38.05M▲ 42.5%
45.44M▲ 19.4%
45.21M▼ 0.5%
74.51M▲ 64.8%
65.56M▼ 12.0%
70.65M▲ 0%
Net Margin %29.83%25.83%30.12%27.48%32.51%38.91%34.58%39.96%29.37%29.76%
Net Income Growth %11.33%2.68%66.24%4.86%42.53%19.44%-0.51%64.8%-12.01%-14.8%
Net Income (Continuing)14.91M15.31M25.46M26.69M38.05M45.44M45.21M74.51M65.56M70.65M
EPS (Diluted)
2.40▲ 0%
2.44▲ 1.7%
3.81▲ 56.1%
3.87▲ 1.6%
5.05▲ 30.5%
5.90▲ 16.8%
5.56▼ 5.8%
7.26▲ 30.6%
6.50▼ 10.5%
7.18▲ 0%
EPS Growth %12.68%1.67%56.15%1.57%30.49%16.83%-5.76%30.58%-10.47%-12.67%
EPS (Basic)2.402.443.813.915.075.925.587.286.50-
Diluted Shares Outstanding6.22M6.29M6.67M6.9M7.48M7.64M8.07M10.2M10.05M9.83M

BFC Balance Sheet

Bank First Corporation (BFC) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash & Short Term Investments151.63M172.14M182.17M238.7M335.26M509.55M424.38M407.44M414.29M1.25B
Cash & Due from Banks40.31M53.1M63.27M53.06M170.22M296.86M119.35M247.47M261.33M126.18M
Short Term Investments111.33M119.04M118.91M185.64M165.79M212.69M305.03M159.97M152.96M98.98M
Total Investments1.18B1.57B1.61B2B2.4B2.49B3.28B3.6B3.87B3.93B
Investments Growth %7.49%32.93%2.04%24.29%20.12%3.71%32.01%9.74%7.34%23.4%
Long-Term Investments1.07B1.45B1.49B1.81B2.23B2.27B2.98B3.44B3.71B15.07B
Accounts Receivables0000000000
Goodwill & Intangibles10.39M20.66M20.32M53.12M64.64M64.41M136.62M215.77M209.68M206.21M
Goodwill7.98M15.09M15.02M43.46M55.47M55.36M110.21M175.11M175.11M175.11M
Intangible Assets2.41M5.58M5.3M9.67M9.17M9.05M26.41M40.66M34.57M31.1M
PP&E (Net)13.32M18.58M24.49M35.29M43.18M49.46M56.45M69.89M71.11M78.03M
Other Assets68.13M87.35M79.22M72.71M42.48M40.3M65.66M86.52M86.28M83.91M
Total Current Assets151.63M172.14M182.17M238.7M335.26M509.55M424.38M407.44M414.29M225.17M
Total Non-Current Assets1.16B1.58B1.61B1.97B2.38B2.43B3.24B3.81B4.08B4.2B
Total Assets
1.32B▲ 0%
1.75B▲ 33.2%
1.79B▲ 2.3%
2.21B▲ 23.3%
2.72B▲ 23.0%
2.94B▲ 8.1%
3.66B▲ 24.6%
4.22B▲ 15.3%
4.5B▲ 6.5%
4.42B▲ 0%
Asset Growth %6.33%33.24%2.27%23.26%22.98%8.08%24.61%15.34%6.47%24.57%
Return on Assets (ROA)1.17%1%1.44%1.33%1.54%1.61%1.37%1.89%1.5%1.6%
Accounts Payable0000000000
Total Debt50.11M67.57M42.99M114.28M77.35M66.63M122.63M127.14M147.37M221.94M
Net Debt9.8M14.47M-20.28M61.22M-92.87M-230.23M3.27M-120.33M-113.96M95.76M
Long-Term Debt015M11.5M68.41M40.97M25.51M25.43M51.39M147.37M221.94M
Short-Term Debt50.11M52.57M31.49M45.87M36.38M41.12M97.2M75.75M00
Other Liabilities11.35M17.47M18.69M22.37M24.85M19.83M24.48M41.98M46.93M31.58M
Total Current Liabilities1.18B1.56B1.59B1.89B2.36B2.57B3.16B3.51B3.66B3.54B
Total Non-Current Liabilities11.35M32.47M30.19M90.78M65.82M45.34M49.9M93.38M194.3M253.53M
Total Liabilities1.19B1.59B1.62B1.98B2.42B2.61B3.21B3.6B3.86B3.79B
Total Equity
127.52M▲ 0%
161.73M▲ 26.8%
174.32M▲ 7.8%
230.21M▲ 32.1%
294.86M▲ 28.1%
322.65M▲ 9.4%
453.1M▲ 40.4%
619.8M▲ 36.8%
639.68M▲ 3.2%
628.13M▲ 0%
Equity Growth %7.23%26.82%7.79%32.06%28.08%9.43%40.43%36.79%3.21%9.13%
Equity / Assets (Capital Ratio)9.69%9.22%9.72%10.42%10.85%10.98%12.38%14.68%14.23%14.21%
Return on Equity (ROE)12.1%10.59%15.15%13.2%14.49%14.72%11.66%13.89%10.41%11.25%
Book Value per Share20.5025.7326.1233.3539.4142.2256.1560.7763.6263.87
Tangible BV per Share18.8322.4423.0725.6530.7733.7939.2239.6142.7742.90
Common Stock67K74K74K79K85K85K101K115K115K115K
Additional Paid-in Capital2.83M27.53M27.6M63.09M92.85M93.15M218.26M333.81M333.84M333.29M
Retained Earnings134.77M145.88M168.36M189.49M221.39M258.1M295.5M348M398M403.04M
Accumulated OCI292K977K-366K2.49M5.76M3.61M-15.57M-8.75M-9.35M-6.16M
Treasury Stock-10.44M-12.73M-21.35M-24.94M-25.23M-32.29M-45.19M-53.39M-82.92M-102.16M
Preferred Stock0000000000

BFC Cash Flow Statement

Bank First Corporation (BFC) cash flow — operating, investing & free cash flow history

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations14.41M18.32M23.05M22.65M43.96M40.28M40.01M52.95M65.85M65.85M
Operating CF Growth %14.27%27.11%25.81%-1.75%94.11%-8.37%-0.68%32.34%24.37%377.34%
Net Income14.91M15.31M25.46M26.69M38.05M45.44M45.21M74.51M65.56M70.65M
Depreciation & Amortization918K1.26M1.87M2.34M3.17M3.19M3.97M8.4M8.05M7.55M
Deferred Taxes-66K624K1.15M856K-116K-1K-869K-1.72M1.77M0
Other Non-Cash Items-2.42M-4.72M-7.74M-8.26M-5.2M-5.38M-9.56M-42.86M-14.56M-11.13M
Working Capital Changes655K5.38M1.76M332K6.98M-4.36M-411K12.48M2.85M-4.91M
Cash from Investing-83.03M-41.42M-30.1M-106.15M-206.03M-93.89M-177.81M269M-252.94M-197M
Purchase of Investments-44.67M-49.59M-22.91M-117.55M-28.76M-93.77M-142.41M-26.65M-302.21M-411.28M
Sale/Maturity of Investments1000K1000K1000K1000K1000K1000K1000K1000K1000K4M
Net Investment Activity-43.67M-48.59M-21.91M-116.55M-27.76M-92.77M-141.41M-25.65M-301.21M-407.28M
Acquisitions0-19.88M0-9.77M35.3M0154.36M89.96M00
Other Investing-67.82M-31.5M-21.96M-31.42M-337.41M-34.52M-197.57M-35.53M-160.07M-152.57M
Cash from Financing63.13M44.92M12.81M62.21M245.83M180.24M-39.71M-193.82M200.95M54.48M
Dividends Paid-3.67M-4.05M-4.53M-5.46M-6.15M-8.73M-7.82M-11.96M-15.56M-52.54M
Share Repurchases-2.59M-3.63M-10.45M-4.21M-4.37M-8.27M-14.31M-10.05M-31.93M-22.04M
Stock Issued448K896K1.35M019K114K114K195K245K723K
Net Stock Activity-2.14M-2.73M-9.1M-4.21M-4.35M-8.16M-14.2M-9.85M-31.68M-21.32M
Debt Issuance (Net)01000K-1000K1000K-1000K-1000K-884K1000K1000K-1.51M
Other Financing68.93M31.7M34.94M31.88M296.75M212.63M-16.8M-180.86M152.32M149.72M
Net Change in Cash
-5.49M▲ 0%
21.82M▲ 497.7%
5.77M▼ 73.6%
-21.29M▼ 469.3%
83.77M▲ 493.4%
126.64M▲ 51.2%
-177.51M▼ 240.2%
128.12M▲ 172.2%
13.86M▼ 89.2%
-78.24M▲ 0%
Exchange Rate Effect0000000000
Cash at Beginning85.64M80.16M101.98M107.74M86.45M170.22M296.86M119.35M247.47M120.33M
Cash at End80.16M101.98M107.74M86.45M170.22M296.86M119.35M247.47M261.33M126.18M
Interest Paid5.79M6.75M14.44M18.94M14.97M7.06M11.31M44.15M65.97M71.84M
Income Taxes Paid8.2M7.98M5.78M6.68M10.18M16.76M14.13M23.81M14.09M700K
Free Cash Flow
13.09M▲ 0%
15.5M▲ 18.4%
15.13M▼ 2.4%
15.38M▲ 1.7%
35.59M▲ 131.4%
31.57M▼ 11.3%
33.14M▲ 5.0%
39.46M▲ 19.1%
58.62M▲ 48.6%
52.13M▲ 0%
FCF Growth %37.24%18.37%-2.41%1.69%131.42%-11.31%4.98%19.09%48.56%5.65%

BFC Banking Ratios

Bank First Corporation (BFC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201620172018201920202021202220232024TTM
Return on Equity (ROE)12.1%10.59%15.15%13.2%14.49%14.72%11.66%13.89%10.41%11.25%
Return on Assets (ROA)1.17%1%1.44%1.33%1.54%1.61%1.37%1.89%1.5%1.6%
Net Interest Margin2.95%2.61%3.52%3.15%3.19%3.07%2.84%3.16%3.07%3.33%
Efficiency Ratio42.26%44.46%41.04%39.23%39.44%38.88%43.2%18.23%34.01%33%
Equity / Assets9.69%9.22%9.72%10.42%10.85%10.98%12.38%14.68%14.23%14.21%
Book Value / Share20.525.7326.1233.3539.4142.2256.1560.7763.6263.87
NII Growth7.76%17.9%37.95%10.41%24.64%3.74%15.54%28.24%3.24%8.8%
Dividend Payout24.58%26.42%17.8%20.47%16.16%19.22%17.3%16.05%23.74%74.37%

BFC SEC Filings & Documents

Bank First Corporation (BFC) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 16, 2026·SEC

Material company update

Jan 22, 2026·SEC

Material company update

Jan 20, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 27, 2026·SEC

FY 2025

Feb 28, 2025·SEC

FY 2024

Feb 29, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 11, 2025·SEC

FY 2025

May 9, 2025·SEC

BFC Frequently Asked Questions

Bank First Corporation (BFC) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Bank First Corporation (BFC) grew revenue by 19.7% over the past year. This is strong growth.

Yes, Bank First Corporation (BFC) is profitable, generating $70.6M in net income for fiscal year 2024 (29.4% net margin).

Dividend & Returns

Yes, Bank First Corporation (BFC) pays a dividend with a yield of 1.06%. This makes it attractive for income-focused investors.

Bank First Corporation (BFC) has a return on equity (ROE) of 10.4%. This is reasonable for most industries.

Industry Metrics

Bank First Corporation (BFC) has a net interest margin (NIM) of 3.1%. This indicates healthy earnings from lending activities.

Bank First Corporation (BFC) has an efficiency ratio of 34.0%. This is excellent, indicating strong cost control.

Explore More BFC

Bank First Corporation (BFC) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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