Bank First (BFC) Q3 2026 Earnings
Adjusted EPS of $2.35 removes $2.701 million in acquisition-related expenses for Centre 1 Bancorp and PSB Holdings (Peoples) and gains/losses on sales of securities and OREO valuations
How Did BFC Stock React to Q3 2026 Earnings?
Did BFC Beat Earnings? Q3 2026 Results
No. Bank First reported Q3 2026 earnings of $2.35 a share on Oct 20, 2026, missing the $2.60 consensus estimate by 9.6%. Revenue was $65.3M against a $65.8M estimate.
Bank First Corporation fell short of Wall Street expectations in Q3 2026, posting adjusted EPS of $2.35 against a consensus estimate of $2.60, a miss of 9.62%, while revenue of $65.33 million edged below the $65.80 million forecast by 0.72%, though it still reflected an 8.7% gain from the year-ago period. The primary story behind the quarter was the January 1, 2026 closing of the Centre 1 Bancorp acquisition, which added $1.48 billion in assets and expanded the balance sheet by 33%, lifting net interest income to $55.22 million from $38.25 million a year earlier and fueling noninterest income to $10.11 million as the new Trust and Wealth Management line and doubled service charges contributed meaningfully. Adjusted EPS strips out $2.70 million in acquisition-related expenses tied to Centre and the pending PSB Holdings merger. Looking ahead, Bank First is targeting a December 4, 2026 close of the PSB Holdings deal, which will push total assets above $10 billion and establish a new Northcentral Region as the company pursues continued expansion.
- Centre 1 Bancorp acquisition added $1.48 billion in assets and 33% increase in total assets
- Net interest margin improved to 4.07% from 3.88% year-over-year
- Underlying NIM excluding purchase accounting improved sequentially each quarter of 2026 to 3.91%
- Trust and Wealth Management income of $1.6 million per quarter as new business line from Centre acquisition
- Service charges doubled year-over-year driven by consumer behavior in Stateline region
- Loan portfolio grew at 6.6% annualized pace during Q3 2026
- Noninterest-bearing demand deposits comprised 29.7% of total deposits, up from 27.1% at year-end 2025
“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. 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.”
Bank First CEO, on the earnings call
What Is Bank First's Outlook?
Bank First is advancing toward the planned December 4, 2026 acquisition of PSB Holdings (Peoples), which will create a new Northcentral Region. The company is preparing to surpass $10 billion in total assets. Full realization of expected cost savings from the Centre acquisition's operational synergies began during Q3 2026 and is anticipated to be fully realized in future quarters. The bank has been investing in senior leadership hires to support both organic and acquisitive growth strategies.
BFC YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $65.3M | $60.1M | +8.7% |
| Net Income | $23.8M | $18.0M | +32.4% |
| Operating Income | $29.9M | $22.5M | +33.1% |
BFC Revenue by Segment
When Does Bank First Report Next?
Figures from SEC filings and company reports. Not investment advice.