Bank First Corp

Bank First Corporation closed out 2025 on a strong note, posting fourth-quarter earnings per share of $1.87 against a consensus estimate of $1.81, a beat of 3.31%, while revenue of $45.00 million topped expectations of $43.85 million by 2.62%, even as the top line contracted 22.9% year over year. The primary engine behind the quarter was a meaningful expansion in net interest income, which climbed to $40.20 million, supported by a net interest margin of 4.01%, up 40 basis points from 3.61% in Q4 2024, as higher yields on newly originated loans combined with a 13 basis point reduction in funding costs to widen profitability. Asset quality also contributed to the clean result, with no provision for credit losses recorded and nonperforming assets falling to just 0.20% of total assets. Looking ahead, the January 1, 2026 closing of the Centre 1 Bancorp acquisition, which brings total assets to approximately $6.00 billion across 38 locations, has already prompted at least one analyst to raise price targets and EPS estimates for 2026 and 2027, reflecting optimism about the bank's integration and growth trajectory.