Bank First Q2 Net Income Jumps 46% to $24.7M, Dividend Raised 9.1%
BFC sits 28% above its 52-week low of $115.29 on light trading volume (0.3× avg).
Summary
Bank First reported Q2 net income of $24.7 million ($2.21 EPS), a 46% increase year-over-year, driven by the Centre acquisition and improved net interest margin. Adjusted EPS of $2.45 excludes acquisition costs. The board declared a $0.60 quarterly dividend, up 9.1% sequentially and 33.3% from a year ago, signaling confidence. Net interest margin expanded to 4.13% from 3.96% last quarter, aided by purchase accounting and core spread improvement. No provision for credit losses was recorded, reflecting stable credit quality. The pending PSB Holdings acquisition, expected to close in December, will push assets to $7.5 billion.
At the time of this announcement, BFC was trading at $147.54 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $115.29 to $154.29. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.