Bank First Corporation announced on April 16 its net income for the first quarter of 2026, reporting $20.0 million, or $1.78 per share, compared to $18.2 million, or $1.82 per share, in the same period last year. Adjusted net income for the quarter was $25.1 million, or $2.24 per share, after excluding expenses related to the recent acquisition of Centre 1 Bancorp.
The results reflect significant changes following Bank First’s acquisition of Centre 1 Bancorp on January 1, which added $1.48 billion in assets and established a new Stateline Region for the bank. “On January 1, 2026, we successfully completed our acquisition of Centre 1 Bancorp, Inc., the holding company for First National Bank and Trust, headquartered in Beloit, Wisconsin,” said Mike Molepske, Chairman and CEO of Bank First Corporation. “This acquisition marked another milestone in Bank First’s long-term growth strategy and established our new Stateline Region.” Molepske also said that integration efforts have included closing six overlapping branches and planning new offices in Walworth, Delavan, and Monroe.
The bank reported total assets of $6.07 billion at March 31—an increase of $1.56 billion from December—largely due to the Centre acquisition. Net interest income rose to $53.2 million during the first quarter while noninterest income increased to $10.5 million compared with previous quarters.
Nonperforming assets rose to $30 million at March 31 from $9 million at year-end due mainly to a single relationship moved to nonaccrual status; however nonperforming assets remained manageable at about half a percent of total assets.
Stockholders’ equity reached nearly $820 million by March end with tangible book value per common share rising slightly following the transaction with Centre.
Bank First’s Board declared a quarterly cash dividend of $0.55 per common share payable July 8 to shareholders as of June 24—a rise from previous dividends.
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