Bank First Corp
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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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$150.86+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated statements of income
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Years Ended December 31 | |||||||||
| · · 2024 · 2023 · 2022 | |||||||||
| · · (In Thousands, except per share amounts) | |||||||||
| Interest income: · · · · · · · | |||||||||
| Loans, including fees | | $189,007 | | $168,815 | | $106,951 | |||
| Securities: | | | | | | | |||
| Taxable | | 10,338 | | 8,460 | | 5,887 | |||
| Tax-exempt | | 964 | | 1,035 | | 1,801 | |||
| Other | | 6,096 | | 4,173 | | 1,895 | |||
| Total interest income | | 206,405 | | 182,483 | | 116,534 | |||
| Interest expense: | | | | ||||||
| Deposits | | 64,168 | | 42,367 | | 10,268 | |||
| Securities sold under repurchase agreements | | 22 | | 1,813 | | 542 | |||
| Borrowed funds | | 4,415 | | 4,823 | | 1,639 | |||
| Total interest expense | | 68,605 | | 49,003 | | 12,449 | |||
| Net interest income | | 137,800 | | 133,480 | | 104,085 | |||
| Provision for credit losses | | (800) | | 4,682 | | 2,200 | |||
| Net interest income after provision for credit losses | | 138,600 | | 128,798 | | 101,885 | |||
| Noninterest income: | | | | | | | |||
| Service charges | | 8,043 | | 7,033 | | 5,810 | |||
| Income from Ansay | | 3,502 | | 2,922 | | 2,558 | |||
| Income from UFS, LLC (“UFS”) | | — | | 2,265 | | 3,055 | |||
| Loan servicing income | | 2,938 | | 2,860 | | 1,922 | |||
| Valuation adjustment on MSR | | | (299) | | | 395 | | | 2,865 |
| Net gain on sales of mortgage loans | | 1,298 | | 897 | | 1,560 | |||
| Gain on sale of UFS | | | — | | | 38,904 | | | — |
| Other | | 4,198 | | 2,839 | | 1,931 | |||
| Total noninterest income | | 19,680 | | 58,115 | | 19,701 | |||
| Noninterest expense: | | | | | | | |||
| Salaries, commissions, and employee benefits | | 40,901 | | 40,355 | | 33,155 | |||
| Occupancy | | 5,957 | | 5,670 | | 5,467 | |||
| Data processing | | 9,692 | | 8,011 | | 6,324 | |||
| Postage, stationery, and supplies | | 885 | | 1,084 | | 771 | |||
| Net (gain) loss on sales and valuations of OREO | | (694) | | 2,133 | | (146) | |||
| Net loss on sale of securities | | | 34 | | | 7,901 | | | — |
| Advertising | | 313 | | 326 | | 271 | |||
| Charitable contributions | | 793 | | 944 | | 718 | |||
| Federal deposit insurance | | | 1,850 | | | 1,831 | | | 1,098 |
| Outside service fees | | 4,560 | | 4,519 | | 5,629 | |||
| Amortization of intangibles | | 5,793 | | 6,324 | | 2,318 | |||
| Other | | 8,683 | | 9,021 | | 6,348 | |||
| Total noninterest expense | | 78,767 | | 88,119 | | 61,953 | |||
| Income before provision for income taxes | | 79,513 | | 98,794 | | 59,633 | |||
| Provision for income taxes | | 13,950 | | 24,280 | | 14,419 | |||
| Net Income | | $65,563 | | $74,514 | | $45,214 | |||
| Earnings per share - basic | | $6.50 | | $7.28 | | $5.58 | |||
| Earnings per share - diluted | | $6.50 | | $7.28 | | $5.58 | |||
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