Bank First (BFC) Financial Statements & Analysis

Bank First (BFC) Income Statement

Bank First reported revenue of $172.63M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 22.7% from $223.24M a year earlier. Net income was $71.50M, up 9.0% year over year, a net margin of 41.4%. Gross margin was 98.0% and operating margin 51.1%. In the most recent quarter, Q3 fiscal 2026 (ended Sep 30, 2026), revenue was $64.58M, up 7.5% from the same quarter a year earlier.

Bank First Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Bank First Corporation income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	172.63	223.24	137.47	121.59	116.78	117.02	97.14	84.52	59.28
Cost of Revenue	71.31	67.81	53.69	14.65	11.40	20.99	24.75	17.78	8.79
Gross Profit	169.14	155.44	132.79	116.12	105.38	96.03	72.40	66.74	50.50
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	27.74	43.06	42.51	20.28	28.74	33.89	28.27	25.96	20.17
Operating Expenses	80.97	75.93	33.99	56.49	45.41	46.15	38.11	34.68	26.36
Operating Income	88.17	79.51	98.79	59.63	59.97	49.88	34.29	32.05	24.14
Other Income/Expense
Interest Income	221.72	206.41	182.48	116.53	98.39	100.70	89.17	77.94	53.47
Interest Expense	70.06	68.61	49.00	12.45	8.30	13.87	19.50	14.85	7.73
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	88.17	79.51	98.79	59.63	59.97	49.88	34.29	32.05	24.14
Income Tax Expense	16.67	13.95	24.28	14.42	14.52	11.83	7.60	6.60	8.83
Net Income	71.50	65.56	74.51	45.21	45.44	38.05	26.69	25.46	15.31
Net Income - Continuous Operations	71.50	65.56	74.51	45.21	45.44	38.05	26.69	25.46	15.31
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	7.42	87.56	107.19	3.97	63.15	53.05	36.63	33.93	25.40
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	5.59	8.05	6.32	3.97	3.19	3.17	2.34	1.87	1.26
Earnings Per Share
Basic EPS	7.00	7.00	7.00	6.00	6.00	5.00	4.00	4.00	2.00
Diluted EPS	7.00	7.00	7.00	6.00	6.00	5.00	4.00	4.00	2.00
Basic Shares Outstanding	9.84	10.03	10.17	8.04	7.62	7.44	6.82	6.67	6.29
Diluted Shares Outstanding	9.84	10.06	10.20	8.04	7.64	7.48	6.90	6.67	6.29

Source: Company financial statements from annual and quarterly filings. Data as of Sep 30, 2026. Data sources and methodology

Frequently Asked Questions About Bank First Financial Statements

What was Bank First's revenue in fiscal 2025?

Bank First reported revenue of $172.63M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 22.7% from $223.24M a year earlier.

Is Bank First profitable?

Yes. Bank First earned net income of $71.50M in fiscal 2025, a net margin of 41.4%. In fiscal 2024 it earned $65.56M.

What is Bank First's operating margin?

Bank First's operating income was $88.17M on revenue of $172.63M in fiscal 2025, an operating margin of 51.1%, compared with 35.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition