Bank First (BFC) investor relations material

Executive summary

• Net income for Q2 2026 was $24.7 million ($2.21 per share), up from $16.9 million ($1.71 per share) in Q2 2025; six-month net income was $44.7 million ($3.99 per share), up from $35.1 million ($3.53 per share) year-over-year.

• Adjusted net income (non-GAAP) for Q2 2026 was $27.3 million ($2.45 per share), up from $16.7 million ($1.69 per share) in Q2 2025, excluding acquisition expenses and asset sales.

• The acquisition of Centre Bancorp added $1.48 billion in assets, increasing total assets by 33% and impacting all major financial metrics.

Financial highlights

• Net interest income for Q2 2026 was $55.0 million, up $1.8 million sequentially and $18.3 million year-over-year.

• Net interest margin rose to 4.13% in Q2 2026 from 3.96% in Q1 2026 and 3.72% in Q2 2025.

• Noninterest income was $10.0 million in Q2 2026, compared to $10.5 million in Q1 2026 and $4.9 million in Q2 2025.

• Noninterest expense was $34.4 million in Q2 2026, down from $39.1 million in Q1 2026 but up from $20.8 million in Q2 2025.

• Total assets reached $5.95 billion at June 30, 2026, up $1.44 billion from year-end 2025.

Outlook and guidance

• Management remains focused on disciplined growth and long-term shareholder value, not targeting asset thresholds at the expense of acquisition standards.

• Full realization of cost synergies from the Centre acquisition is expected in future quarters.