BFC Q1 2026 Earnings
Reported Apr 16, 2026 at 4:01 PM ET · SEC Source
Q1 26 EPS
$2.24
MISS 4.68%
Est. $2.35
Q1 26 Revenue
$63.7M
MISS 2.97%
Est. $65.7M
vs S&P Since Q1 26
-1.9%
TRAILING MARKET
BFC +1.5% vs S&P +3.4%
Market Reaction
Did BFC Beat Earnings? Q1 2026 Results
Bank First Corporation delivered a mixed first quarter for 2026, posting adjusted EPS of $2.24 and revenue of $63.75 million, missing Wall Street's respective estimates of $2.35 and $65.70 million by 4.68% and 2.97%, even as revenue grew 5.5% year-ov… Read more Bank First Corporation delivered a mixed first quarter for 2026, posting adjusted EPS of $2.24 and revenue of $63.75 million, missing Wall Street's respective estimates of $2.35 and $65.70 million by 4.68% and 2.97%, even as revenue grew 5.5% year-over-year. The dominant story of the quarter was the January 1 closing of the Centre 1 Bancorp acquisition, a transformative deal that expanded total assets by 33% to $6.07 billion and drove net interest income to $53.22 million, up $16.68 million from a year ago, while simultaneously loading the income statement with $6.53 million in one-time acquisition expenses that weighed on reported results. Nonperforming assets climbed to $30.00 million, or 0.50% of assets, partly reflecting a single $12.90 million relationship moved to nonaccrual, adding a credit quality thread for investors to watch. Management signaled confidence through a 22.2% dividend increase to $0.55 per share and a $60 million share repurchase authorization, with full cost synergies expected once the core system conversion completes in Q2 2026.
Key Takeaways
- • Completion of Centre 1 Bancorp acquisition adding $1.48 billion in assets and 33% increase in total assets
- • Net interest income increased $16.7 million year-over-year to $53.2 million driven by expanded balance sheet
- • Net interest margin expanded to 3.96% from 3.65% year-over-year
- • No provision for credit losses recorded due to slight loan portfolio contraction
- • New Trust and Wealth Management income of $1.6 million from Centre acquisition
- • Service charge income more than doubled to $4.7 million from $2.0 million year-over-year
- • Gains on sales of mortgage loans increased to $1.1 million from $0.3 million year-over-year
- • Purchase accounting accretion increased NII by $2.7 million ($0.19 per share after tax)
BFC Forward Guidance & Outlook
Bank First expects full realization of cost savings from operational synergies with Centre 1 Bancorp in future quarters, with core data processing system conversion scheduled for completion in Q2 2026. The Bank is planning to build new offices in Walworth, Delavan, and Monroe to strengthen its long-term presence in high-potential relationship markets, while consolidating and closing two additional legacy Centre branches. The Bank is actively investing in the continued build-out of its Wealth Management platform throughout its footprint.
BFC YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
BFC Revenue by Segment
Business unit performance breakdown
“On January 1, 2026, we successfully completed our acquisition of Centre 1 Bancorp, Inc., the holding company for First National Bank and Trust, headquartered in Beloit, Wisconsin. This acquisition marked another milestone in Bank First's long-term growth strategy and established our new Stateline Region. We are pleased to welcome their customers, employees, and shareholders into the Bank First family, and we are excited to expand our capabilities by adding experienced Trust and Wealth Management, Fraud, and Treasury Management teams. The integration of these specialized services is already enhancing our ability to deliver comprehensive financial solutions across our legacy markets, and we are actively investing in the continued build-out of our Wealth Management platform throughout our footprint. As part of our disciplined integration strategy, six overlapping First National Bank and Trust branches were permanently closed upon completion of the acquisition. In addition, we are planning to build new, modern offices in Walworth, Delavan, and Monroe. These new locations will strengthen our long-term presence in high-potential relationship markets while allowing us to consolidate and close two additional First National Bank and Trust branches.”
— Mike Molepske, Q1 2026 Earnings Press Release
BFC Earnings Trends
BFC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BFC EPS Trend
Earnings per share: estimate vs actual
BFC Revenue Trend
Quarterly revenue: estimate vs actual
BFC Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $2.35 | $2.24 | -4.68% | $63.7M | -2.97% |
| Q4 25 BEAT FY | $1.81 | $1.87 | +3.31% | $45.0M | +2.62% |
| FY Full Year | — | $7.23 | — | $171.0M | — |
| Q3 25 BEAT | $1.81 | $1.83 | +1.10% | $44.3M | +0.34% |
| Q2 25 MISS | $1.81 | $1.71 | -5.26% | $41.6M | -5.13% |