Bank First Q1 net income $10.7M ($1.09 EPS), adjusted $14.7M ($1.50); dividend raised 20%

Bank First Corp

2023-Q1 EPS reported $1.09

Net income $10.7M ($1.09 EPS) vs $10.2M ($1.34) YoY; adjusted net income $14.7M ($1.50) vs $10.5M ($1.38).
Net interest margin 3.74% (up from 3.06% YoY); net interest income $32.2M (+$9.9M YoY); provision for credit losses $4.2M (includes $3.6M CECL day-1 on Hometown).
Total assets $4.17B (+$1.24B YoY) driven by Denmark and Hometown acquisitions; loans $3.32B, deposits $3.46B.
Quarterly cash dividend increased 20% to $0.30/share, payable July 5, 2023, record June 21, 2023.
Tangible book value per share $34.14 (from $36.14 at Dec 2022); $6.1M stock repurchases in Q1 at avg $74.36.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bank First Corp reported the three months ended March 31, 2023 results: net income $10.7 million, EPS $1.09 per share.

Period: the three months ended March 31, 2023
Net income: $10.7 million
EPS: $1.09 per share
Result: reported results

Exact text from the filing

Bank First Corporation (NASDAQ: BFC ) (“Bank First” or the “Bank”), the holding company for Bank First, N.A., reported net income of $10.7 million, or $1.09 per share, for the first quarter of 2023

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Bank First Corp filing history →

Source: SEC EDGAR

accession 0001104659-23-046697

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