Bank First Corporation reported third quarter 2026 revenue of $65.33 million and GAAP EPS of $2.15, both falling short of analyst expectations. While the acquisition of Centre 1 Bancorp significantly increased the bank's scale, results were tempered by a sequential decline in net interest margin and elevated noninterest expenses related to acquisition integration and personnel growth.

Key Highlights

  • Net Interest Margin (NIM) compressed to 4.07% from 4.13% in the prior quarter, impacted by lower purchase accounting accretion which provided only 0.16% to NIM compared to 0.27% in Q2.
  • Organic loan growth remained healthy as total loans reached $4.60 billion, reflecting a 6.6% annualized growth rate for the quarter.
  • Noninterest expense increased to $34.7 million, including $2.7 million in direct acquisition costs and higher personnel expenses from senior-level hires in preparation for the upcoming Peoples State Bank merger.
  • Asset quality remains manageable with nonperforming assets at 0.50% of total assets, a slight increase from 0.47% at the end of the second quarter.