Bank First Announces Net Income for the Third Quarter of 2026
Key Highlights
- ➤Q3 net income $23.8 million, up from $18.0 million year over year
- ➤Q3 EPS $2.15, versus $1.83 in the prior-year quarter
- ➤Adjusted Q3 EPS $2.35, excluding acquisition expenses and certain asset sales
- ➤Peoples acquisition remains planned for December 4, 2026
- ➤Quarterly dividend $0.65 per share, up 8.3% sequentially and 44.4% year over year
Expert Statements
Mike Molepske, Chairman and CEO of Bank First
“During the most recent quarter, we made meaningful progress toward our planned December 4, 2026 acquisition of Peoples while adding experienced leaders to support our continued organic growth”
Mike Molepske, Chairman and CEO of Bank First
“At a recent cultural orientation meeting, we were pleased to see the enthusiasm and engagement of Peoples employees who will be joining Bank First. Their warm welcome reflects the positive response we have also received from customers and shareholders of Peoples, who recognize the opportunities this merger will create through expanded retail products, enhanced trust and wealth management services, more sophisticated treasury management tools, and greater lending capacity.”
Mike Molepske, Chairman and CEO of Bank First
“We believe investing in people is essential to Bank First's continued success. In anticipation of our Northcentral Region, which the acquisition of Peoples will create, we hired a new Regional President who brings extensive experience in the Wausau market. We also hired a Chief Retail Officer with substantial previous experience at two national banks. Together with several other key hires in recent quarters, these investments in our people deepen our expertise, strengthen our ability to serve customers, and build the leadership capacity to sustain our growth as we prepare to surpass $10 billion in assets”
Bank First Announces Net Income for the Third Quarter of 2026 PR Newswire
* Net income of $23.8 million and $68.5 million for the three and nine months ended September 30, 2026, respectively * Earnings per common share of $2.15 and $6.14 for the three and nine months ended September 30, 2026, respectively * Adjusted net income (non-GAAP) of $26.1 million and $78.5 million and adjusted earnings per common share (non-GAAP) of $2.35 and $7.04 for the three and nine months ended September 30, 2026, respectively, after removing the impact of acquisition expenses and certain asset sales * Quarterly cash dividend of $0.65 per share declared, an increase of 8.3% and 44.4% over the prior quarter and prior-year third quarter, respectively MANITOWOC, Wis., Oct. 20, 2026 /PRNewswire/ -- Bank First Corporation (NASDAQ: BFC) ("Bank First" or the "Bank"), the holding company for Bank First, N.A., reported net income of $23.8 million, or $2.15 per share, for the third quarter of 2026 ("26Q3"), compared with net income of $18.0 million, or $1.83 per share, for the prior-year third quarter ("25Q3"). For the nine months ended September 30, 2026 ("26YTD"), Bank First earned $68.5 million, or $6.14 per share, compared to $53.1 million, or $5.36 per share for the same period in 2025 ("25YTD"). After removing the impact of expenses related to the acquisitions of Centre 1 Bancorp, Inc. ("Centre"), and PSB Holdings, Inc. ("Peoples"), as well as one-time net gains on the sale of certain assets, the Bank reported adjusted net income (non-GAAP) of $26.1 million, or $2.35 per share, and $78.5 million, or $7.04 per share, for 26Q3 and 26YTD, respectively. Adjusted net income (non-GAAP) was $18.8 million, or $1.91 per share, and $53.8 million, or $5.42 per share, for 25Q3 and 25YTD, respectively.
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