secwatch.observer — SEC 8-K summary
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Issuer:     Bank First Corp (BFC)
CIK:        0001746109
Form:       8-K
Filed at:   2023-10-17T23:59:59+00:00
Accession:  0001104659-23-109602
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1746109/000110465923109602/0001104659-23-109602-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1746109/000110465923109602/tm2328538d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-109602

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