Bank First Corp
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 28, 2025
BFC$150.57+1.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated balance sheets
| | | | | | | |
|---|---|---|---|---|---|---|
| · · | ||||||
| · · December 31, 2024 · December 31, 2023 | ||||||
| | | (In thousands, except share and per share data) | ||||
| | | | | | | |
| Assets | | | | | | |
| Cash and due from banks | | $59,164 | | $69,973 | ||
| Interest-bearing deposits | | 202,168 | | 177,495 | ||
| Cash and cash equivalents | | 261,332 | | 247,468 | ||
| Securities held to maturity, at amortized cost ($109,424 and $103,626 fair value at December 31, 2024 and December 31, 2023, respectively) | | 110,756 | | 103,324 | ||
| Securities available for sale, at fair value ($235,909 and $154,318 amortized cost at December 31, 2024 and December 31, 2023, respectively) | | 223,061 | | 142,197 | ||
| Loans held for sale | | | 3,088 | | | 3,012 |
| Loans | | | 3,517,168 | | | 3,342,974 |
| Allowance for credit losses - loans ("ACL-Loans") | | | (44,151) | | | (43,609) |
| Loans, net | | 3,473,017 | | 3,299,365 | ||
| Premises and equipment, net | | 71,108 | | 69,891 | ||
| Goodwill | | 175,106 | | 175,106 | ||
| Other investments | | 22,643 | | 21,366 | ||
| Cash value of life insurance | | 61,542 | | 61,292 | ||
| Core deposit intangibles, net | | 21,203 | | 26,996 | ||
| Mortgage servicing rights ("MSR") | | | 13,369 | | | 13,668 |
| Other real estate owned (“OREO”) | | 741 | | 2,573 | ||
| Investment in Ansay and Associates, LLC ("Ansay") | | 34,093 | | 32,926 | ||
| Other assets | | 24,001 | | 22,658 | ||
| TOTAL ASSETS | | $4,495,060 | | $4,221,842 | ||
| Liabilities and Stockholders’ Equity | | | | |||
| Liabilities: | | | ||||
| Deposits: | | | ||||
| Interest-bearing deposits | | $2,636,192 | | $2,382,185 | ||
| Noninterest-bearing deposits | | 1,024,881 | | 1,050,735 | ||
| Total deposits | | 3,661,073 | | 3,432,920 | ||
| Securities sold under repurchase agreements | | — | | 75,747 | ||
| Notes payable | | 135,372 | | 35,270 | ||
| Subordinated notes | | 12,000 | | 12,000 | ||
| Junior subordinated debenture | | | — | | | 4,124 |
| Other liabilities | | 46,932 | | 41,983 | ||
| Total liabilities | | 3,855,377 | | 3,602,044 | ||
| Stockholders’ equity: | | | ||||
| Serial preferred stock - $0.01 par value | | | ||||
| Authorized - 5,000,000 shares | | — | | — | ||
| Common stock - $0.01 par value | | | ||||
| Authorized - 20,000,000 shares | | | ||||
| Issued - 11,515,130 shares as of December 31, 2024 and December 31, 2023 | | | ||||
| Outstanding - 10,012,088 and 10,365,131 shares as of December 31, 2024 and December 31, 2023, respectively | | 115 | | 115 | ||
| Additional paid-in capital | | 333,842 | | 333,815 | ||
| Retained earnings | | 398,002 | | 348,001 | ||
| Treasury stock, at cost - 1,503,042 and 1,149,999 shares as of December 31, 2024 and December 31, 2023, respectively | | (82,925) | | (53,387) | ||
| Accumulated other comprehensive loss | | (9,351) | | (8,746) | ||
| Total stockholders’ equity | | 639,683 | | 619,798 | ||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | | $4,495,060 | | $4,221,842 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.