Bank First Corporation (BFC) 10-Year Financial Performance & Capital Metrics

BFC • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingMidwest Community 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 Equity 10.41% -25.0%
Net Interest Margin 3.07% -3.0%
Efficiency Ratio 34.01% +86.6%
ROA 1.5% -20.4%
Equity / Assets 14.23% -3.1%
Book Value per Share 63.62 +4.7%
Tangible BV/Share 42.77 +8.0%
Debt/Equity 0.23 +12.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 19.7%
✓Efficient operations: 34.0% efficiency ratio
✓Well capitalized: 14.2% equity/assets

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y17.37%

5Y18.11%

3Y24.11%

TTM-

Profit (Net Income) CAGR

10Y17.91%

5Y19.69%

3Y13%

TTM-14.74%

EPS CAGR

10Y12.57%

5Y10.93%

3Y3.28%

TTM-12.52%

ROCE

10Y Avg14.8%

5Y Avg14.26%

3Y Avg13.41%

Latest10.28%

Peer Comparison

Midwest Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TFSLTFS Financial Corporation	3.97B	14.13	44.16	4.37%	11.49%	4.41%	1.15%	2.57
ASBAssociated Banc-Corp	4.43B	26.70	37.08	4.42%	5.85%	3.62%	12.08%	0.69
ASBAAssociated Banc-Corp	4.11B	24.78	30.98	-6.56%	12.92%	3.77%	13.02%	0.17
BANFBancFirst Corporation	3.81B	114.30	17.75	12.28%	23.81%	13.33%	5.89%	0.05
SYBTStock Yards Bancorp, Inc.	2.03B	68.83	17.69	15.84%	22.86%	12.99%	6.56%	0.53
PRKPark National Corporation	2.63B	163.76	17.57	14.4%	23.46%	13.22%	6.44%	0.24
NICNicolet Bankshares, Inc.	1.97B	133.08	16.53	24.6%	23.88%	11.4%	5.95%	0.14
LKFNLakeland Financial Corporation	1.52B	59.47	16.38	9.38%	21.74%	13.06%	6.18%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	36M	38.79M	45.74M	63.1M	69.67M	86.83M	90.08M	104.08M	133.48M	137.8M
NII Growth %	0.03%	0.08%	0.18%	0.38%	0.1%	0.25%	0.04%	0.16%	0.28%	0.03%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	41.06M	44.73M	53.47M	77.94M	89.17M	100.7M	98.39M	116.53M	182.48M	206.41M
Interest Expense	5.06M	5.93M	7.73M	14.85M	19.5M	13.87M	8.3M	12.45M	49M	68.61M
Loan Loss Provision	1.01M	320K	1.05M	2.94M	5.25M	7.13M	3.1M	2.2M	4.68M	-800K
Non-Interest Income+	4.76M	5.27M	5.81M	6.57M	7.98M	16.32M	18.39M	14.23M	3.99M	16.84M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	45.83M	50M	59.28M	84.52M	97.14M	117.02M	116.78M	130.77M	186.47M	223.24M
Revenue Growth %	0.02%	0.09%	0.19%	0.43%	0.15%	0.2%	-0%	0.12%	0.43%	0.2%
Non-Interest Expense	19.61M	21.13M	26.36M	34.68M	38.11M	46.15M	45.41M	56.49M	33.99M	75.92M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	20.15M	22.62M	24.14M	32.05M	34.29M	49.88M	59.97M	59.63M	98.79M	79.51M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.07%	0.12%	0.07%	0.33%	0.07%	0.45%	0.2%	-0.01%	0.66%	-0.2%
Pretax Income+	20.15M	22.62M	24.14M	32.05M	34.29M	49.88M	59.97M	59.63M	98.79M	79.51M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	6.75M	7.71M	8.83M	6.6M	7.59M	11.83M	14.52M	14.42M	24.28M	13.95M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	13.39M	14.91M	15.31M	25.46M	26.69M	38.05M	45.44M	45.21M	74.51M	65.56M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.06%	0.11%	0.03%	0.66%	0.05%	0.43%	0.19%	-0.01%	0.65%	-0.12%
Net Income (Continuing)	13.39M	14.91M	15.31M	25.46M	26.69M	38.05M	45.44M	45.21M	74.51M	65.56M
EPS (Diluted)+	2.13	2.40	2.44	3.81	3.87	5.05	5.90	5.56	7.26	6.50
EPS Growth %	0.07%	0.13%	0.02%	0.56%	0.02%	0.3%	0.17%	-0.06%	0.31%	-0.1%
EPS (Basic)	2.13	2.40	2.44	3.81	3.91	5.07	5.92	5.58	7.28	6.50
Diluted Shares Outstanding	6.29M	6.22M	6.29M	6.67M	6.9M	7.48M	7.64M	8.07M	10.2M	10.05M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	28.07M	40.31M	53.1M	63.27M	53.06M	170.22M	296.86M	119.35M	247.47M	261.33M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	1.1B	1.18B	1.57B	1.61B	2B	2.4B	2.49B	3.28B	3.6B	3.87B
Investments Growth %	0.11%	0.07%	0.33%	0.02%	0.24%	0.2%	0.04%	0.32%	0.1%	0.07%
Long-Term Investments	1B	1.07B	1.45B	1.49B	1.81B	2.23B	2.27B	2.98B	3.44B	3.71B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	7.98M	7.98M	15.09M	15.02M	43.46M	55.47M	55.36M	110.21M	175.11M	175.11M
Intangible Assets	2.33M	2.41M	5.58M	5.3M	9.67M	9.17M	9.05M	26.41M	40.66M	34.57M
PP&E (Net)	12.96M	13.32M	18.58M	24.49M	35.29M	43.18M	49.46M	56.45M	69.89M	71.11M
Other Assets	84.96M	68.13M	87.35M	79.22M	72.71M	42.48M	40.3M	65.66M	86.52M	86.28M
Total Current Assets	125.43M	151.63M	172.14M	182.17M	238.7M	335.26M	509.55M	424.38M	407.44M	414.29M
Total Non-Current Assets	1.11B	1.16B	1.58B	1.61B	1.97B	2.38B	2.43B	3.24B	3.81B	4.08B
Total Assets+	1.24B	1.32B	1.75B	1.79B	2.21B	2.72B	2.94B	3.66B	4.22B	4.5B
Asset Growth %	0.12%	0.06%	0.33%	0.02%	0.23%	0.23%	0.08%	0.25%	0.15%	0.06%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%	0.01%	0.02%	0.02%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	45.62M	50.11M	67.57M	42.99M	114.28M	77.35M	66.63M	122.63M	127.14M	147.37M
Net Debt	17.55M	9.8M	14.47M	-20.28M	61.22M	-92.87M	-230.23M	3.27M	-120.33M	-113.96M
Long-Term Debt	0	0	15M	11.5M	68.41M	40.97M	25.51M	25.43M	51.39M	147.37M
Short-Term Debt	45.62M	50.11M	52.57M	31.49M	45.87M	36.38M	41.12M	97.2M	75.75M	0
Other Liabilities	10.55M	11.35M	17.47M	18.69M	22.37M	24.85M	19.83M	24.48M	41.98M	46.93M
Total Current Liabilities	1.11B	1.18B	1.56B	1.59B	1.89B	2.36B	2.57B	3.16B	3.51B	3.66B
Total Non-Current Liabilities	10.55M	11.35M	32.47M	30.19M	90.78M	65.82M	45.34M	49.9M	93.38M	194.3M
Total Liabilities	1.12B	1.19B	1.59B	1.62B	1.98B	2.42B	2.61B	3.21B	3.6B	3.86B
Total Equity+	118.93M	127.52M	161.73M	174.32M	230.21M	294.86M	322.65M	453.1M	619.8M	639.68M
Equity Growth %	0.09%	0.07%	0.27%	0.08%	0.32%	0.28%	0.09%	0.4%	0.37%	0.03%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.12%	0.12%	0.11%	0.15%	0.13%	0.14%	0.15%	0.12%	0.14%	0.1%
Book Value per Share	18.90	20.50	25.73	26.12	33.35	39.41	42.22	56.15	60.77	63.62
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	67K	67K	74K	74K	79K	85K	85K	101K	115K	115K
Additional Paid-in Capital	2.69M	2.83M	27.53M	27.6M	63.09M	92.85M	93.15M	218.26M	333.81M	333.84M
Retained Earnings	123.53M	134.77M	145.88M	168.36M	189.49M	221.39M	258.1M	295.5M	348M	398M
Accumulated OCI	1.22M	292K	977K	-366K	2.49M	5.76M	3.61M	-15.57M	-8.75M	-9.35M
Treasury Stock	-8.58M	-10.44M	-12.73M	-21.35M	-24.94M	-25.23M	-32.29M	-45.19M	-53.39M	-82.92M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	12.62M	14.41M	18.32M	23.05M	22.65M	43.96M	40.28M	40.01M	52.95M	65.85M
Operating CF Growth %	-0.23%	0.14%	0.27%	0.26%	-0.02%	0.94%	-0.08%	-0.01%	0.32%	0.24%
Net Income	13.39M	14.91M	15.31M	25.46M	26.69M	38.05M	45.44M	45.21M	74.51M	65.56M
Depreciation & Amortization	912K	918K	1.26M	1.87M	2.34M	3.17M	3.19M	3.97M	8.4M	8.05M
Deferred Taxes	218K	-66K	624K	1.15M	856K	-116K	-1K	-869K	-1.72M	1.77M
Other Non-Cash Items	-1.51M	-2.42M	-4.72M	-7.74M	-8.26M	-5.2M	-5.38M	-9.56M	-42.86M	-14.56M
Working Capital Changes	-739K	655K	5.38M	1.76M	332K	6.98M	-4.36M	-411K	12.48M	2.85M
Cash from Investing+	-108.1M	-83.03M	-41.42M	-30.1M	-106.15M	-206.03M	-93.89M	-177.81M	269M	-252.94M
Purchase of Investments	-41.66M	-44.67M	-49.59M	-22.91M	-117.55M	-28.76M	-93.77M	-142.41M	-26.65M	-302.21M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	-19.88M	0	-9.77M	35.3M	0	154.36M	89.96M	0
Other Investing	-83.23M	-67.82M	-31.5M	-21.96M	-31.42M	-337.41M	-34.52M	-197.57M	-35.53M	-160.07M
Cash from Financing+	119.28M	63.13M	44.92M	12.81M	62.21M	245.83M	180.24M	-39.71M	-193.82M	200.95M
Dividends Paid	-3.21M	-3.67M	-4.05M	-4.53M	-5.46M	-6.15M	-8.73M	-7.82M	-11.96M	-15.56M
Share Repurchases	-1.44M	-2.59M	-3.63M	-10.45M	-4.21M	-4.37M	-8.27M	-14.31M	-10.05M	-31.93M
Stock Issued	991K	448K	896K	1.35M	0	19K	114K	114K	195K	245K
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	1000K	-1000K	1000K	-1000K	-1000K	-884K	1000K	1000K
Other Financing	122.94M	68.93M	31.7M	34.94M	31.88M	296.75M	212.63M	-16.8M	-180.86M	152.32M
Net Change in Cash+	23.79M	-5.49M	21.82M	5.77M	-21.29M	83.77M	126.64M	-177.51M	128.12M	13.86M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	61.85M	85.64M	80.16M	101.98M	107.74M	86.45M	170.22M	296.86M	119.35M	247.47M
Cash at End	85.64M	80.16M	101.98M	107.74M	86.45M	170.22M	296.86M	119.35M	247.47M	261.33M
Interest Paid	5.08M	5.79M	6.75M	14.44M	18.94M	14.97M	7.06M	11.31M	44.15M	65.97M
Income Taxes Paid	8.15M	8.2M	7.98M	5.78M	6.68M	10.18M	16.76M	14.13M	23.81M	14.09M
Free Cash Flow+	9.54M	13.09M	15.5M	15.13M	15.38M	35.59M	31.57M	33.14M	39.46M	58.62M
FCF Growth %	-0.29%	0.37%	0.18%	-0.02%	0.02%	1.31%	-0.11%	0.05%	0.19%	0.49%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.75%	12.1%	10.59%	15.15%	13.2%	14.49%	14.72%	11.66%	13.89%	10.41%
Return on Assets (ROA)	1.14%	1.17%	1%	1.44%	1.33%	1.54%	1.61%	1.37%	1.89%	1.5%
Net Interest Margin	2.91%	2.95%	2.61%	3.52%	3.15%	3.19%	3.07%	2.84%	3.16%	3.07%
Efficiency Ratio	42.78%	42.26%	44.46%	41.04%	39.23%	39.44%	38.88%	43.2%	18.23%	34.01%
Equity / Assets	9.61%	9.69%	9.22%	9.72%	10.42%	10.85%	10.98%	12.38%	14.68%	14.23%
Book Value / Share	18.9	20.5	25.73	26.12	33.35	39.41	42.22	56.15	60.77	63.62
NII Growth	3.07%	7.76%	17.9%	37.95%	10.41%	24.64%	3.74%	15.54%	28.24%	3.24%
Dividend Payout	23.95%	24.58%	26.42%	17.8%	20.47%	16.16%	19.22%	17.3%	16.05%	23.74%

Frequently Asked Questions

Valuation & Price

Bank First Corporation (BFC) has a price-to-earnings (P/E) ratio of 20.0x. This is roughly in line with market averages.

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 $69.2M 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 1.19%. 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.

US Stock Screener

...