Bank First Corp
Q2 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.91%.
Did BFC Beat Earnings? Q2 2026 Results
Bank First Corporation delivered a strong second quarter of 2026, with adjusted earnings per share of $2.45 beating the consensus estimate of $2.28 by 7.46%, while revenue of $65.06 million edged past expectations by 1.02% and grew 11.2% year over year. The standout driver behind the quarter was the January 1 closing of the Centre 1 Bancorp acquisition, which added roughly $1.48 billion in assets and helped lift net interest income by $18.30 million year over year, expanding the net interest margin to 4.13% from 3.72% a year ago. The enlarged balance sheet pushed total assets to $5.95 billion, with deposits reaching $4.99 billion and loans at $4.52 billion. Noninterest income doubled year over year to $10.00 million, partly reflecting a new Trust and Wealth Management business line inherited from Centre. Looking ahead, management expects full cost synergy realization in coming quarters following the completion of Centre's core system conversion, and the pending Peoples acquisition is projected to bring total assets to approximately $7.50 billion, with CEO Mike Molepske signaling no urgency to breach the $10.00 billion regulatory threshold.
- Centre 1 Bancorp acquisition added $1.48 billion in assets and significantly increased operating scale
- Net interest margin expanded to 4.13% from 3.72% year-over-year, with purchase accounting contributing 27 basis points
- Zero provision for credit losses in Q2 2026
- Noninterest income doubled year-over-year driven by new trust and wealth management business and higher service charges
- Core system conversion of Centre completed in Q2, enabling cost synergy realization going forward
- Noninterest-bearing demand deposits comprised 30.0% of total deposits, up from 27.1% at year-end 2025
“Following the anticipated closing of our Peoples acquisition in December 2025, Bank First will have approximately $7.5 billion in total assets. We are often asked about our plans to surpass $10 billion in assets. Our answer is simple: we will continue to grow with discipline. We will not compromise our acquisition standards simply to reach a regulatory threshold. Our focus remains on creating long-term shareholder value.”
Bank First CEO, on the earnings call
Forward Guidance & Outlook
Bank First expects full realization of cost synergies from the Centre acquisition in future quarters following the completion of core system conversion in Q2 2026. The pending acquisition of PSB Holdings (Peoples) is anticipated to close in December 2025, bringing total assets to approximately $7.5 billion. Management emphasized disciplined growth and stated the bank will not compromise acquisition standards to reach the $10 billion regulatory threshold.
BFC YoY Financials
BFC Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.