Bank First Announces Q3 2026 Net Income of $23.8 Million
21 Oct 2026 · 10h ago
Summary
Bank First Corporation reported net income of $23.8 million, or $2.15 per share, for the third quarter of 2026, a significant increase compared to $17.99 million, or $1.83 per share, in the prior-year period. For the nine months ended September 30, 2026, net income was $68.5 million, or $6.14 per share, up from $53.1 million, or $5.36 per share, in the same period last year. The company highlighted progress on its planned acquisition of Peoples and investments in leadership to support continued organic growth. Total assets grew to $5.95 billion, driven by the Centre acquisition, with a strong focus on expanding retail products and services.
Key Highlights
- 1
Bank First announced net income of $23.8 million for the third quarter of 2026, and $68.5 million for the nine months ended September 30, 2026.
- 2
Earnings per common share were $2.15 for the third quarter and $6.14 for the nine months ended September 30, 2026.
- 3
Adjusted net income (non-GAAP) was $26.1 million for the third quarter and $78.5 million for the nine months ended September 30, 2026.
- 4
The quarterly cash dividend was declared at $0.65 per share, representing an increase of 8.3% over the prior quarter and 44.4% over the prior-year third quarter.
- 5
Net interest income increased to $55.2 million for the third quarter of 2026, up $17.0 million from the prior-year third quarter.
- 6
Total assets reached $5.95 billion on September 30, 2026, an increase of $1.53 billion from September 30, 2025, largely due to the Centre acquisition.
Management Comments
Mike Molepske
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. We believe investing in people is essential to Bank First’s continued success. In anticipation of our Northcentral Region, which the acquisition of Peoples will create, we hired a new Regional President who brings extensive experience in the Wausau market. We also hired a Chief Retail Officer with substantial previous experience at two national banks. Together with several other key hires in recent quarters, these investments in our people deepen our expertise, strengthen our ability to serve customers, and build the leadership capacity to sustain our growth as we prepare to surpass $10 billion in assets.
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