Bank First Q3 EPS $2.15, Dividend Raised 44% YoY, Peoples Deal Set for Dec 4
BFC sits 25% above its 52-week low of $119.08.
Summary
Bank First reported Q3 2026 net income of $23.8 million ($2.15 EPS) and adjusted EPS of $2.35, raised its quarterly dividend 44.4% year-over-year to $0.65, and reaffirmed the Peoples acquisition closing for December 4, 2026.
Key Events · Earnings and Guidance · BFC
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Q3 Earnings Grew Year-Over-Year
Net income of $23.8 million, or $2.15 per share, versus $18.0 million, or $1.83, in Q3 2025. Adjusted net income was $26.1 million, or $2.35 per share, after removing $2.7 million of acquisition expenses.
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Dividend Raised 44.4% Year-Over-Year
Quarterly cash dividend of $0.65 per share, up $0.05 (8.3%) from the prior quarter and $0.20 (44.4%) from the prior-year third quarter, payable January 6, 2027 to holders of record December 23, 2026.
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Core Margin Improving Despite Headline Dip
Reported net interest margin was 4.07%, down from 4.13% in Q2, but excluding purchase accounting the margin rose each quarter of 2026: 3.76%, 3.86%, then 3.91%.
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Credit Metrics Deteriorated From Year-End
Nonperforming assets totaled $29.6 million, or 0.50% of total assets, up from 0.31% a year ago and 0.47% last quarter. Management says the nonaccruals are concentrated in a few unique customer relationships.
Analysis · BFC · Finance
Bank First earned $23.8 million, or $2.15 per share, in Q3 2026 versus $18.0 million, or $1.83, a year earlier, with adjusted EPS of $2.35. The headline GAAP number was held back by $2.7 million of acquisition costs tied to Centre and Peoples, so the adjusted figure is the cleaner read on the core bank. Net interest margin slipped to 4.07% from 4.13% in Q2, but the underlying margin excluding purchase accounting has risen every quarter this year (3.76% to 3.86% to 3.91%), which means the core spread is improving even as the headline number drifts. The board raised the quarterly dividend to $0.65 from $0.60, a 44.4% increase over last year's third quarter, and management reaffirmed the Peoples acquisition for December 4, 2026. The one soft spot is credit: nonperforming assets rose to $29.6 million, or 0.50% of assets, from 0.31% a year ago, though management attributes it to a handful of isolated relationships.
How filings like this one have moved
In the 30 days to Oct 21, 2026, 29.2% of the 1544 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, BFC was trading at $148.34 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $119.08 to $159.10. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.