---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-109602"
form_type: "8-K"
ticker: "BFC"
cik: "0001746109"
company_name: "Bank First Corp"
filed_at: "2023-10-17T23:59:59+00:00"
generated_at: "2026-06-09T22:42:56.005503+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bank First Q3 net income $14.8M ($1.43 EPS); sells UFS stake for $52.2M gain

## Summary
- Net income $14.8M ($1.43 EPS) vs $10.5M ($1.26 EPS) in Q3 2022; adjusted EPS $1.46.
- Dividend raised 20% YoY to $0.30/share, payable Jan 10, 2024 to holders of record Dec 27, 2023.
- Subsequent sale of UFS, LLC closed Oct 1, 2023 for $52.2M cash; pre-tax gain $39.3M expected in Q4 2023.
- Repaid $11.5M subordinated debt (9.0% rate) on Oct 2, 2023, saving >$1M annual interest.
- Nonperforming assets stayed low at $5.2M (0.13% of total assets); net interest margin 3.71%.

## SEC filing metadata
- accession: 0001104659-23-109602
- form_type: 8-K
- ticker: BFC
- cik: 0001746109
- company_name: Bank First Corp
- filed_at: 2023-10-17T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1746109/000110465923109602/0001104659-23-109602-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1746109/000110465923109602/tm2328538d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-109602
- JSON: https://secwatch.observer/filing/0001104659-23-109602.json
- Plain text: https://secwatch.observer/filing/0001104659-23-109602.txt

## Key facts
- Earnings Releases
  Bank First Corp reported quarter ended September 30, 2023 results: net income $14.8 million, EPS $1.43 per share.
  - Period: quarter ended September 30, 2023
  - Net income: $14.8 million
  - EPS: $1.43 per share
  - Result: reported results
  source text: Bank First Corporation (the “Company”) announced its earnings for the quarter ended September 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1746109/000110465923109602/0001104659-23-109602-index.htm
- Earnings Releases
  Bank First Corp reported nine months ended September 30, 2023 results: net income $39.6 million, EPS $3.89 per share.
  - Period: nine months ended September 30, 2023
  - Net income: $39.6 million
  - EPS: $3.89 per share
  - Result: reported results
  source text: For the nine months ended September 30, 2023, Bank First earned $39.6 million, or $3.89 per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1746109/000110465923109602/0001104659-23-109602-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.