Bank First Corp

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

About 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.

FY2023 · Filed Feb 29, 2024

BFC$150.86+0.2%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated statements of income


· · Years Ended December 31
· · 2023 · 2022 · 2021
· · (In Thousands, except per share amounts)
Interest income: · · · · · · ·
Loans, including fees	$168,815	$106,951	$93,422
Securities:
Taxable	8,460	5,887	2,788
Tax-exempt	1,035	1,801	1,866
Other	4,173	1,895	310
Total interest income	182,483	116,534	98,386
Interest expense:
Deposits	42,367	10,268	7,527
Securities sold under repurchase agreements	1,813	542	10
Borrowed funds	4,823	1,639	767
Total interest expense	49,003	12,449	8,304
Net interest income	133,480	104,085	90,082
Provision for credit losses	4,682	2,200	3,100
Net interest income after provision for credit losses	128,798	101,885	86,982
Noninterest income:
Service charges	7,033	5,810	6,128
Income from Ansay and Associates, LLC (“Ansay”)	2,922	2,558	2,587
Income from UFS, LLC (“UFS”)	2,265	3,055	2,556
Loan servicing income	2,860	1,922	1,622
Valuation adjustment on MSR	395	2,865	1,290
Net gain on sales of mortgage loans	897	1,560	7,371
Gain on sale of UFS	38,904	—	—
Other	2,839	1,931	1,967
Total noninterest income	58,115	19,701	23,521
Noninterest expense:
Salaries, commissions, and employee benefits	40,355	33,155	28,515
Occupancy	5,670	5,467	4,198
Data processing	8,011	6,324	5,344
Postage, stationery, and supplies	1,084	771	713
Net loss (gain) on sales and valuations of OREO	2,133	(146)	(20)
Net loss on sale of securities	7,901	—	3
Advertising	326	271	227
Charitable contributions	944	718	534
Outside service fees	6,350	6,727	3,076
Amortization of intangibles	6,324	2,318	1,405
Other	9,021	6,348	6,541
Total noninterest expense	88,119	61,953	50,536
Income before provision for income taxes	98,794	59,633	59,967
Provision for income taxes	24,280	14,419	14,523
Net Income	$74,514	$45,214	$45,444
Earnings per share - basic	$7.28	$5.58	$5.92
Earnings per share - diluted	$7.28	$5.58	$5.92

See accompanying notes to consolidated financial statements

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.