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BFCBank First Corporation
$142.68$1.4B
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BFC logoBank First Corporation(BFC)Earnings, Financials & Key Ratios

BFC•NASDAQ•Banking & Credit
19.7× P/E·Price updated Jun 19, 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$152M+10.1%
  • Total Revenue$240M+7.7%
  • Net Income$71M+9.0%
  • Return on Equity11.14%+7.0%
  • Net Interest Margin3.35%+9.4%
  • Efficiency Ratio33.67%-1.0%
  • ROA1.59%+5.4%
  • Equity / Assets14.24%
  • Book Value per Share65.47+2.9%

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%
  • ✓Strong Piotroski F-Score: 8/9
  • ✓Efficient operations: 33.7% efficiency ratio
  • ✓12 consecutive years of dividend growth
  • ✓Well capitalized: 14.2% equity/assets
  • ✓Healthy dividend yield of 3.7%

✗Weaknesses

No significant weaknesses identified

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

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BFC Price & Volume

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

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BFC Growth Metrics

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

Revenue CAGR

10 Years18.03%
5 Years15.49%
3 Years22.51%
TTM-

Profit CAGR

10 Years18.23%
5 Years13.45%
3 Years16.5%
TTM9.05%

EPS CAGR

10 Years13%
5 Years7.44%
3 Years9.15%
TTM11.4%

Return on Capital

10 Years13.51%
5 Years12%
3 Years9.95%
Last Year3.31%

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
Metric
Actual
Est
EPS
$2.24-6.7%
$2.40
Rev
$64M-3.0%
$66M
Q1 2026
Feb 27, 2026
Metric
Actual
Est
EPS
$1.87
—
Rev
$61M
—
Q1 2026
Jan 22, 2026
Metric
Actual
Est
EPS
$2.00+10.5%
$1.81
Rev
$45M+2.6%
$44M
Q4 2025
Oct 21, 2025
Metric
Actual
Est
EPS
$1.91+3.2%
$1.85
Rev
$43M-2.8%
$44M
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
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
FBIZ logoFBIZFirst Business Financial Services, Inc.Direct Competitor503.41M60.349.966.43%18.74%14.12%0.70
BWFG logoBWFGBankwell Financial Group, Inc.Direct Competitor447.93M56.1812.626.13%16.95%12.21%0.60
MNSB logoMNSBMainStreet Bancshares, Inc.Direct Competitor175.75M23.8613.56-1.44%11.53%7.26%0.32
CZWI logoCZWICitizens Community Bancorp, Inc.Direct Competitor205.47M21.3414.62-9.41%16.01%7.81%0.28
FFIN logoFFINFirst Financial Bankshares, Inc.Product Competitor4.7B32.7818.5211.71%30.71%14.16%0.01
FULT logoFULTFulton Financial CorporationProduct Competitor4.41B22.9011.015.03%20.7%11.6%0.37
IBCP logoIBCPIndependent Bank CorporationProduct Competitor706.3M34.3110.49-0.3%22.12%14.2%0.23
NBTB logoNBTBNBT Bancorp Inc.Product Competitor2.44B46.6814.0210.36%18.76%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
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Net Interest Income
45.74M63.1M69.67M86.83M90.08M104.08M133.48M137.8M151.66M
NII Growth %
17.9%37.95%10.41%24.64%3.74%15.54%28.24%3.24%10.06%
Net Interest Margin %
2.61%3.52%3.15%3.19%3.07%2.84%3.16%3.07%3.35%
Interest Income
53.47M77.94M89.17M100.7M98.39M116.53M182.48M206.41M221.72M
Interest Expense
7.73M14.85M19.5M13.87M8.3M12.45M49M68.61M70.06M
Loan Loss Provision
1.05M2.94M5.25M7.13M3.1M2.2M4.68M-800K1.25M
Non-Interest Income
5.81M6.57M7.98M16.32M18.39M14.23M3.99M16.84M18.73M
Non-Interest Income %
9.8%7.77%8.21%13.95%15.75%10.88%2.14%7.54%7.79%
Total Revenue
59.28M▲ 0%
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%
240.45M▲ 7.7%
Revenue Growth %
18.57%42.56%14.94%20.46%-0.2%11.98%42.6%19.72%7.71%
Non-Interest Expense
26.36M34.68M38.11M46.15M45.41M56.49M33.99M75.92M80.97M
Efficiency Ratio
44.46%41.04%39.23%39.44%38.88%43.2%18.23%34.01%33.67%
Operating Income
24.14M▲ 0%
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%
88.17M▲ 10.9%
Operating Margin %
40.72%37.93%35.3%42.62%51.35%45.6%52.98%35.62%36.67%
Operating Income Growth %
6.72%32.79%6.98%45.46%20.23%-0.56%65.67%-19.52%10.89%
Pretax Income
24.14M▲ 0%
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%
88.17M▲ 10.9%
Pretax Margin %
40.72%37.93%35.3%42.62%51.35%45.6%52.98%35.62%36.67%
Income Tax
8.83M6.6M7.59M11.83M14.52M14.42M24.28M13.95M16.67M
Effective Tax Rate %
36.56%20.58%22.15%23.72%24.22%24.18%24.58%17.54%18.91%
Net Income
15.31M▲ 0%
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%
71.5M▲ 9.0%
Net Margin %
25.83%30.12%27.48%32.51%38.91%34.58%39.96%29.37%29.73%
Net Income Growth %
2.68%66.24%4.86%42.53%19.44%-0.51%64.8%-12.01%9.05%
Net Income (Continuing)
15.31M25.46M26.69M38.05M45.44M45.21M74.51M65.56M71.5M
EPS (Diluted)
2.44▲ 0%
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%
7.23▲ 11.2%
EPS Growth %
1.67%56.15%1.57%30.49%16.83%-5.76%30.58%-10.47%11.23%
EPS (Basic)
2.443.813.915.075.925.587.286.507.23
Diluted Shares Outstanding
6.29M6.67M6.9M7.48M7.64M8.07M10.2M10.05M9.83M

BFC Balance Sheet

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

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash & Short Term Investments
172.14M182.17M238.7M335.26M509.55M424.38M407.44M414.29M55.34M
Cash & Due from Banks
53.1M63.27M53.06M170.22M296.86M119.35M247.47M261.33M55.34M
Short Term Investments
119.04M118.91M185.64M165.79M212.69M305.03M159.97M152.96M0
Total Investments
1.57B1.61B2B2.4B2.49B3.28B3.6B3.87B4.08B
Investments Growth %
32.93%2.04%24.29%20.12%3.71%32.01%9.74%7.34%5.56%
Long-Term Investments
1.45B1.49B1.81B2.23B2.27B2.98B3.44B3.71B4.08B
Accounts Receivables
000000000
Goodwill & Intangibles
20.66M20.32M53.12M64.64M64.41M136.62M215.77M209.68M191.31M
Goodwill
15.09M15.02M43.46M55.47M55.36M110.21M175.11M175.11M175.11M
Intangible Assets
5.58M5.3M9.67M9.17M9.05M26.41M40.66M34.57M16.2M
PP&E (Net)
18.58M24.49M35.29M43.18M49.46M56.45M69.89M71.11M79.22M
Other Assets
87.35M79.22M72.71M42.48M40.3M65.66M86.52M86.28M94.17M
Total Current Assets
172.14M182.17M238.7M335.26M509.55M424.38M407.44M414.29M55.34M
Total Non-Current Assets
1.58B1.61B1.97B2.38B2.43B3.24B3.81B4.08B4.47B
Total Assets
1.75B▲ 0%
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%
4.52B▲ 0.6%
Asset Growth %
33.24%2.27%23.26%22.98%8.08%24.61%15.34%6.47%0.58%
Return on Assets (ROA)
1%1.44%1.33%1.54%1.61%1.37%1.89%1.5%1.59%
Accounts Payable
000000000
Total Debt
67.57M42.99M114.28M77.35M66.63M122.63M127.14M147.37M123.55M
Net Debt
14.47M-20.28M61.22M-92.87M-230.23M3.27M-120.33M-113.96M68.21M
Long-Term Debt
15M11.5M68.41M40.97M25.51M25.43M51.39M147.37M91.97M
Short-Term Debt
52.57M31.49M45.87M36.38M41.12M97.2M75.75M030.09M
Other Liabilities
17.47M18.69M22.37M24.85M19.83M24.48M41.98M46.93M3.74B
Total Current Liabilities
1.56B1.59B1.89B2.36B2.57B3.16B3.51B3.66B30.09M
Total Non-Current Liabilities
32.47M30.19M90.78M65.82M45.34M49.9M93.38M194.3M3.85B
Total Liabilities
1.59B1.62B1.98B2.42B2.61B3.21B3.6B3.86B3.88B
Total Equity
161.73M▲ 0%
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%
643.84M▲ 0.6%
Equity Growth %
26.82%7.79%32.06%28.08%9.43%40.43%36.79%3.21%0.65%
Equity / Assets (Capital Ratio)
9.22%9.72%10.42%10.85%10.98%12.38%14.68%14.23%14.24%
Return on Equity (ROE)
10.59%15.15%13.2%14.49%14.72%11.66%13.89%10.41%11.14%
Book Value per Share
25.7326.1233.3539.4142.2256.1560.7763.6265.47
Tangible BV per Share
22.4423.0725.6530.7733.7939.2239.6142.7746.01
Common Stock
74K74K79K85K85K101K115K115K115K
Additional Paid-in Capital
27.53M27.6M63.09M92.85M93.15M218.26M333.81M333.84M333.84M
Retained Earnings
145.88M168.36M189.49M221.39M258.1M295.5M348M398M417M
Accumulated OCI
977K-366K2.49M5.76M3.61M-15.57M-8.75M-9.35M-5.02M
Treasury Stock
-12.73M-21.35M-24.94M-25.23M-32.29M-45.19M-53.39M-82.92M-102.09M
Preferred Stock
000000000

BFC Cash Flow Statement

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

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations
18.32M23.05M22.65M43.96M40.28M40.01M52.95M65.85M62.48M
Operating CF Growth %
27.11%25.81%-1.75%94.11%-8.37%-0.68%32.34%24.37%-5.11%
Net Income
15.31M25.46M26.69M38.05M45.44M45.21M74.51M65.56M71.5M
Depreciation & Amortization
1.26M1.87M2.34M3.17M3.19M3.97M8.4M8.05M7.42M
Deferred Taxes
624K1.15M856K-116K-1K-869K-1.72M1.77M180K
Other Non-Cash Items
-4.72M-7.74M-8.26M-5.2M-5.38M-9.56M-42.86M-14.56M-14.27M
Working Capital Changes
5.38M1.76M332K6.98M-4.36M-411K12.48M2.85M-4.48M
Cash from Investing
-41.42M-30.1M-106.15M-206.03M-93.89M-177.81M269M-252.94M-15.97M
Purchase of Investments
-49.59M-22.91M-117.55M-28.76M-93.77M-142.41M-26.65M-302.21M-212.75M
Sale/Maturity of Investments
62.38M22.7M59.85M133.22M43.12M14.69M254.7M216.56M287.3M
Net Investment Activity
12.78M-212K-57.69M104.46M-50.65M-127.72M228.05M-85.65M74.55M
Acquisitions
-19.88M0-9.77M35.3M0154.36M89.96M00
Other Investing
-31.5M-21.96M-31.42M-337.41M-34.52M-197.57M-35.53M-160.07M-79.08M
Cash from Financing
44.92M12.81M62.21M245.83M180.24M-39.71M-193.82M200.95M-64.64M
Dividends Paid
-4.05M-4.53M-5.46M-6.15M-8.73M-7.82M-11.96M-15.56M-52.5M
Share Repurchases
-3.63M-10.45M-4.21M-4.37M-8.27M-14.31M-10.05M-31.93M-22.04M
Stock Issued
896K1.35M019K114K114K195K245K737K
Net Stock Activity
-2.73M-9.1M-4.21M-4.35M-8.16M-14.2M-9.85M-31.68M-21.3M
Debt Issuance (Net)
1000K-1000K1000K-1000K-1000K-884K1000K1000K-1000K
Other Financing
31.7M34.94M31.88M296.75M212.63M-16.8M-180.86M152.32M34.67M
Net Change in Cash
21.82M▲ 0%
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%
-18.13M▼ 230.7%
Exchange Rate Effect
000000000
Cash at Beginning
80.16M101.98M107.74M86.45M170.22M296.86M119.35M247.47M261.33M
Cash at End
101.98M107.74M86.45M170.22M296.86M119.35M247.47M261.33M243.21M
Interest Paid
6.75M14.44M18.94M14.97M7.06M11.31M44.15M65.97M71.03M
Income Taxes Paid
7.98M5.78M6.68M10.18M16.76M14.13M23.81M14.09M15.87M
Free Cash Flow
15.5M▲ 0%
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%
51.04M▼ 12.9%
FCF Growth %
18.37%-2.41%1.69%131.42%-11.31%4.98%19.09%48.56%-12.94%

BFC Banking Ratios

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

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)
12.1%10.59%15.15%13.2%14.49%14.72%11.66%13.89%10.41%11.14%
Return on Assets (ROA)
1.17%1%1.44%1.33%1.54%1.61%1.37%1.89%1.5%1.59%
Net Interest Margin
2.95%2.61%3.52%3.15%3.19%3.07%2.84%3.16%3.07%3.35%
Efficiency Ratio
42.26%44.46%41.04%39.23%39.44%38.88%43.2%18.23%34.01%33.67%
Equity / Assets
9.69%9.22%9.72%10.42%10.85%10.98%12.38%14.68%14.23%14.24%
Book Value / Share
20.525.7326.1233.3539.4142.2256.1560.7763.6265.47
NII Growth
7.76%17.9%37.95%10.41%24.64%3.74%15.54%28.24%3.24%10.06%
Dividend Payout
24.58%26.42%17.8%20.47%16.16%19.22%17.3%16.05%23.74%73.43%
Related:BFC Dividend History·BFC Revenue History·BFC Price History·BFC P/E History·BFC Financial Ratios·BFC Institutional Holders

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 7.7% over the past year. This is steady growth.

Yes, Bank First Corporation (BFC) is profitable, generating $71.5M in net income for fiscal year 2025 (29.7% net margin).

Dividend & Returns

Yes, Bank First Corporation (BFC) pays a dividend with a yield of 3.74%. This makes it attractive for income-focused investors.

Bank First Corporation (BFC) has a return on equity (ROE) of 11.1%. This is reasonable for most industries.

Industry Metrics

Bank First Corporation (BFC) has a net interest margin (NIM) of 3.4%. This indicates healthy earnings from lending activities.

Bank First Corporation (BFC) has an efficiency ratio of 33.7%. This is excellent, indicating strong cost control.

What if you invested $1,000 in BFC back in 1998?

Total return calculator · dividends reinvested · 28+ years of data

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How much would $100/month in BFC be worth today?

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