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1. Company Snapshot

1.a. Company Description

Bank First Corporation operates as a holding company for Bank First N.A. that provides consumer and commercial financial services to businesses, professionals, consumers, associations, individuals, and governmental authorities in Wisconsin.The company offers checking, savings, money market, cash management, retirement, and health savings accounts; other time deposits; certificates of deposit; and residential mortgage products.It also provides credit cards; ATM processing; insurance; data processing and other information technology; investment and safekeeping; treasury management; and online, telephone, and mobile banking services.


The company's loan products include real estate loans, including commercial real estate, residential mortgage, and home equity loans; commercial and industrial loans for working capital, accounts receivable, inventory financing, and other business purposes; construction and development loans; residential 1-4 family loans; and consumer loans for personal and household purposes, including secured and unsecured installment loans, and revolving lines of credit.It operates through 21 offices in Manitowoc, Outagamie, Brown, Winnebago, Sheboygan, Waupaca, Ozaukee, Monroe, and Jefferson counties in Wisconsin.The company was formerly known as Bank First National Corporation and changed its name to Bank First Corporation in June 2019.


Bank First Corporation was founded in 1894 and is headquartered in Manitowoc, Wisconsin.

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1.b. Last Insights on BFC

The recent stock performance of Bank First Corporation was negatively driven by a decline in the company's return on average assets (ROAA) to 1.56% in 2024, down from 1.60% in the previous quarter. Although the quarterly cash dividend of $0.45 per share was maintained, the annualized ROAA decline and slower earnings growth compared to the prior quarter may have contributed to the stock's recent performance.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Geode Capital Management LLC Sells 4,735 Shares of Bank First National Corporation $BFC

Nov -29

Source: defenseworld.net

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Bank First National (NASDAQ:BFC) and First Mid Bancshares (NASDAQ:FMBH) Financial Contrast

Nov -17

Source: defenseworld.net

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Is Bank First National (BFC) Stock Outpacing Its Finance Peers This Year?

Nov -13

Source: zacks.com

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Are Finance Stocks Lagging Bank First National (BFC) This Year?

Oct -28

Source:

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Bank First Corporation (BFC) Surpasses Q3 Earnings and Revenue Estimates

Oct -21

Source: zacks.com

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Bank First Announces Net Income for the Third Quarter of 2025

Oct -21

Source: prnewswire.com

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Bank First Corporation Receives Regulatory Approval to Acquire Centre 1 Bancorp, Inc.

Oct -17

Source: prnewswire.com

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Bank stock sell-off due to fear with First Brands, says Commerce Street's Dory Wiley

Oct -16

Source: youtube.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.53%)

6. Segments

Banking and Related Activities

Expected Growth: 7.53%

Bank First Corporation's 7.53% growth in Banking and Related Activities is driven by increasing demand for commercial loans, expansion of digital banking services, and strategic acquisitions. Additionally, a strong focus on customer relationships, efficient cost management, and a favorable interest rate environment have contributed to the growth.

7. Detailed Products

Personal Banking

Bank First Corporation offers a range of personal banking services, including checking and savings accounts, credit cards, personal loans, and mortgages.

Business Banking

The company provides business banking services, including business checking and savings accounts, commercial loans, credit cards, and cash management solutions.

Wealth Management

Bank First Corporation offers wealth management services, including investment management, retirement planning, and estate planning.

Mortgage Lending

The company provides mortgage lending services, including residential and commercial mortgage loans, refinancing options, and construction loans.

Treasury Management

Bank First Corporation offers treasury management services, including cash management, wire transfers, and account reconciliation.

Insurance Services

The company provides insurance services, including life insurance, disability insurance, and long-term care insurance.

8. Bank First Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Bank First Corporation operates in a highly competitive industry, and customers have various alternatives to choose from. However, the company's strong brand reputation and customer loyalty programs help to mitigate the threat of substitutes.

Bargaining Power Of Customers

Bank First Corporation's customers have significant bargaining power due to the availability of alternative banking services. The company's large customer base and diverse product offerings help to balance this power.

Bargaining Power Of Suppliers

Bank First Corporation has a diverse supplier base, and no single supplier has significant bargaining power. The company's strong financial position and long-term contracts with suppliers also reduce the bargaining power of suppliers.

Threat Of New Entrants

The banking industry has significant barriers to entry, including regulatory hurdles and high capital requirements. This limits the threat of new entrants and allows Bank First Corporation to maintain its market position.

Intensity Of Rivalry

The banking industry is highly competitive, with many established players competing for market share. Bank First Corporation's strong brand reputation, diverse product offerings, and strategic partnerships help the company to maintain its competitive position.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 17.03%
Debt Cost 4.97%
Equity Weight 82.97%
Equity Cost 5.43%
WACC 5.35%
Leverage 20.53%

11. Quality Control: Bank First Corporation passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Bank First

A-Score: 6.8/10

Value: 3.4

Growth: 6.6

Quality: 7.6

Yield: 6.0

Momentum: 9.5

Volatility: 7.7

1-Year Total Return ->

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Stock-Card
Citizens & Northern

A-Score: 6.6/10

Value: 6.0

Growth: 4.9

Quality: 7.4

Yield: 8.0

Momentum: 5.0

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
Hawthorn Bancshares

A-Score: 6.2/10

Value: 6.1

Growth: 5.2

Quality: 6.0

Yield: 5.0

Momentum: 8.5

Volatility: 6.7

1-Year Total Return ->

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Stock-Card
Flushing Financial

A-Score: 5.6/10

Value: 8.3

Growth: 2.7

Quality: 3.9

Yield: 10.0

Momentum: 3.5

Volatility: 5.3

1-Year Total Return ->

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Stock-Card
ACNB

A-Score: 5.6/10

Value: 4.5

Growth: 5.2

Quality: 5.8

Yield: 6.0

Momentum: 5.0

Volatility: 7.0

1-Year Total Return ->

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Stock-Card
Triumph Financial

A-Score: 3.3/10

Value: 2.0

Growth: 3.6

Quality: 4.9

Yield: 4.0

Momentum: 1.0

Volatility: 4.3

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

129.86$

Current Price

129.86$

Potential

-0.00%

Expected Cash-Flows