Bank First Corporation (BFC) Income Statement
BFC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBFC revenue and net income
Where BFC's revenue goes
2025Each bar shows an amount and its share of revenue. BFC kept 29.7% of revenue as net income.
BFC profit margins
BFC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.7% | +22.5% | +15.5% | +18.0% |
| Gross profit | +8.8% | +13.4% | +12.0% | +15.6% |
| Operating income | +10.9% | +13.9% | +12.1% | +15.9% |
| Net income | +9.0% | +16.5% | +13.4% | +18.2% |
| EPS (diluted) | +11.1% | +8.8% | +7.3% | +12.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BFC quarterly EPS vs estimates
Bank First beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 20, 2026 (estimate $2.63).
BFC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $240.4M | $223.2M | $186.5M | $130.8M | $116.8M | $117.0M | $97.1M | $84.5M | $59.3M | $50.0M |
| Cost of revenue | $71.3M | $67.8M | $53.7M | $14.6M | $11.4M | $21.0M | $24.7M | $17.8M | $8.8M | $6.3M |
| Gross profit | $169.1M | $155.4M | $132.8M | $116.1M | $105.4M | $96.0M | $72.4M | $66.7M | $50.5M | $43.7M |
| Sales, general & admin | $55.9M | $43.1M | $42.2M | $34.5M | $28.7M | $33.9M | $28.3M | $26.0M | $20.2M | $16.4M |
| Total operating expenses | $81.0M | $75.9M | $34.0M | $56.5M | $45.4M | $46.2M | $38.1M | $34.7M | $26.4M | $21.1M |
| Operating income | $88.2M | $79.5M | $98.8M | $59.6M | $60.0M | $49.9M | $34.3M | $32.1M | $24.1M | $22.6M |
| Interest income | $221.7M | $206.4M | $169.6M | $116.5M | $98.4M | $100.7M | $89.2M | $77.9M | $53.5M | $44.7M |
| Interest expense | $70.1M | $68.6M | $49.0M | $12.4M | $8.3M | $13.9M | $19.5M | $14.8M | $7.7M | $5.9M |
| Income before taxes | $88.2M | $79.5M | $98.8M | $59.6M | $60.0M | $49.9M | $34.3M | $32.1M | $24.1M | $22.6M |
| Income taxes | $16.7M | $13.9M | $24.3M | $14.4M | $14.5M | $11.8M | $7.6M | $6.6M | $8.8M | $7.7M |
| Net income | $71.5M | $65.6M | $74.5M | $45.2M | $45.4M | $38.0M | $26.7M | $25.5M | $15.3M | $14.9M |
| EBITDA | $95.6M | $87.6M | $107.2M | $63.6M | $63.2M | $53.0M | $36.6M | $33.9M | $25.4M | $23.5M |
| EPS (diluted) | $7.18 | $6.46 | $5.36 | $5.58 | $6.00 | $5.04 | $4.00 | $3.81 | $2.56 | $2.40 |
| Gross margin | 70.3% | 69.6% | 71.2% | 88.8% | 90.2% | 82.1% | 74.5% | 79.0% | 85.2% | 87.5% |
| Operating margin | 36.7% | 35.6% | 53.0% | 45.6% | 51.3% | 42.6% | 35.3% | 37.9% | 40.7% | 45.2% |
| Net margin | 29.7% | 29.4% | 40.0% | 34.6% | 38.9% | 32.5% | 27.5% | 30.1% | 25.8% | 29.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $85.7M | $84.3M | $61.4M | $60.1M | $58.5M | $60.5M | $58.4M | $57.9M | $54.3M | $52.7M | $42.9M | $50.6M |
| Cost of revenue | $20.7M | $20.4M | $16.5M | $17.9M | $18.1M | $18.9M | $17.2M | $18.1M | $16.3M | $16.1M | $16.2M | $12.9M |
| Gross profit | $65.1M | $63.9M | $44.9M | $42.2M | $40.4M | $41.5M | $41.2M | $39.7M | $38.0M | $36.6M | $26.6M | $37.7M |
| Sales, general & admin | $19.5M | $24.3M | $22.0M | $11.1M | $11.1M | $11.7M | $11.8M | $10.2M | $10.5M | $11.4M | $3.4M | $10.3M |
| Total operating expenses | $34.4M | $39.2M | $22.0M | $19.8M | $19.8M | $19.4M | $19.4M | $19.0M | $18.1M | $19.4M | −$19.4M | $18.0M |
| Operating income | $30.6M | $24.7M | $22.9M | $22.5M | $20.7M | $22.1M | $21.8M | $20.7M | $19.8M | $17.2M | $46.0M | $19.7M |
| Interest income | $75.7M | $73.6M | $56.6M | $55.5M | $54.6M | $55.0M | $53.8M | $54.0M | $49.3M | $49.3M | $48.7M | $47.0M |
| Interest expense | $20.7M | $20.4M | $16.5M | $17.2M | $17.9M | $18.5M | $18.2M | $18.1M | $16.3M | $15.9M | $15.7M | $12.9M |
| Income before taxes | $30.6M | $24.7M | $22.9M | $22.5M | $20.7M | $22.1M | $21.8M | $20.7M | $19.8M | $17.2M | $46.0M | $19.7M |
| Income taxes | $5.9M | $4.7M | $4.5M | $4.5M | $3.8M | $3.9M | $4.2M | $4.1M | $3.8M | $1.8M | $11.1M | $4.9M |
| Net income | $24.7M | $20.0M | $18.4M | $18.0M | $16.9M | $18.2M | $17.5M | $16.6M | $16.1M | $15.4M | $34.9M | $14.8M |
| EBITDA | $31.4M | $28.0M | $24.7M | $24.3M | $22.5M | $24.0M | $23.9M | $22.7M | $21.9M | $19.3M | $48.3M | $21.7M |
| EPS (diluted) | $2.45 | $1.78 | $1.87 | $1.91 | $1.66 | $1.74 | $1.74 | $1.65 | $1.56 | $1.51 | $1.44 | $1.46 |
| Gross margin | 75.9% | 75.8% | 73.2% | 70.3% | 69.1% | 68.7% | 70.5% | 68.6% | 69.9% | 69.4% | 62.1% | 74.5% |
| Operating margin | 35.7% | 29.3% | 37.3% | 37.4% | 35.3% | 36.6% | 37.3% | 35.7% | 36.5% | 32.7% | 107.3% | 38.9% |
| Net margin | 28.8% | 23.7% | 30.0% | 29.9% | 28.8% | 30.2% | 30.0% | 28.6% | 29.6% | 29.2% | 81.4% | 29.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BFC's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BFC financial results
In fiscal year 2025 (ended December 31, 2025), Bank First reported revenue of $240.4 million, up 7.7% from the year before. It had net income of $71.5 million (up 9.0%), a net profit margin of 29.7%. Diluted earnings per share came to $7.18. Over five years revenue grew at an average rate of 15.5% a year.
See the BFC stock overview for the latest quote and news, or the BFC chart for price history and technical indicators.
BFC income statement FAQ
What is Bank First's annual revenue?
Bank First reported total revenue of $240.4 million for fiscal year 2025, which ended on December 31, 2025. That was up 7.7% from $223.2 million the previous year.
Is Bank First profitable?
Yes. Bank First reported net income of $71.5 million in fiscal 2025, a net profit margin of 29.7%; its operating margin was 36.7%.
What is Bank First's gross margin?
Bank First's gross margin was 70.3% in fiscal 2025: for every $100 of revenue, Bank First kept $70 after the direct cost of its products and services.
How fast is Bank First growing?
Revenue grew 15.5% a year on average over the last five fiscal years, from $117.0 million to $240.4 million.
What are Bank First's earnings per share?
Bank First earned $7.18 per diluted share in fiscal 2025, compared with $6.46 a year earlier.
When will Bank First report its next earnings?
Bank First is expected to report results for the quarter ending September 30, 2026 on October 20, 2026 after the market closes.
When does Bank First's fiscal year end?
Bank First's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.