Bank First Corp — Form 8-K
Filed July 21, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 58/100
What the filing says
Bank First reported Q2 2026 net income of $24.7M ($2.21/share) vs. $16.9M ($1.71/share) YoY; six-month income of $44.7M ($3.99/share) vs. $35.1M ($3.53/share). The January 1, 2026 acquisition of Centre 1 Bancorp (with ~$1.48B assets) increased Bank First's assets by 33% to $5.95B; deposits grew $1.29B to $4.99B; loans grew $917M to $4.52B. Net interest margin expanded to 4.13% from 3.72% YoY. Board approved dividend increase of 33.3% YoY to $0.60/share. Adjusted net income (ex-acquisition costs) was $27.3M/$52.4M respectively. Centre's core deposit intangible of $31.9M is amortizing over 10 years; acquisition-related expenses totaled $3.3M in Q2 ($9.8M YTD).
Why this rating
Centre acquisition adds ~27% to asset base (material for ~$1.1B company); NIM expansion and dividend hike are positive, but integration costs and elevated nonperforming assets (up $14.2M YoY) offset. Moderate trajectory change.
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