Filing Flows › Financials › Bank First (BFC)
Bank First (BFC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Bank First (BFC) Q3 2026 earnings results →
Q3 2026 Revenue up 48% year over year to $65.3M · 36¢ of every $1 of revenue kept as net profit · operating margin 45.8%
Bank First made $65.3M in Q3 2026 (+48% Y/Y): Net interest income $55.2M, Noninterest income $10.1M. Operating margin 45.8%, net earnings $23.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $65.3M in Q3 2026, up 48% year over year and roughly flat from the previous quarter. Net interest income was the largest line at 85% of revenue. Net interest income added $17.0M year over year (up 44%), 80% of the total change.
Operating profit was $29.9M, a 45.8% margin (down 5.1 points year over year). Of the extra revenue versus a year earlier, 35% reached operating profit, below the 51% margin then. Total costs grew 63% against revenue growth of 48%. The fastest-growing cost line was Noninterest expense (+64%). Net earnings were $23.8M, up 32% year over year. The effective tax rate was 20.4%.
Operating cash flow was $28.6M (up 85% year over year), 120% of net earnings. Non-cash charges added back $720K of share-based compensation. Working capital and other items added $4.1M. Capital expenditures of $2.5M left free cash flow of $26.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $65.3M | +48% | 45.8% | $23.8M | $28.6M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Bank First
Bank First Corporation is a Wisconsin corporation that was organized in April 1982 to serve as the holding company for Bank First, N.A., a national banking association founded in 1894. The Bank is a wholly-owned subsidiary of the Company. The Company and the Bank are headquartered in Manitowoc, Wisconsin, and the Bank is a member of the Board of Governors of the Federal Reserve System (the “Federal Reserve”) and regulated by the Office of the Comptroller of the Currency (the “OCC”). The Bank has thirty-eight (38) offices, including its headquarters, in Brown, Columbia, Dane, Door, Fond du Lac, Green, Jefferson, Manitowoc, Monroe, Outagamie, Ozaukee, Rock, Shawano, Sheboygan, Walworth, Waupaca, Waushara, and Winnebago counties in the State of Wisconsin and Winnebago county in the State of Illinois.
In its own words, from its 10-K, filed Feb 27, 2026.
Bank First against its National Commercial Banks peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +48% against the peers' median +8%. Operating margin: 45.8% against the peers' median 32.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BFC Bank First | Q3 2026 | $65.3M | +48% | 45.8% |
| JPM JPMorgan Chase | Q3 2026 | $50.2B | +8% | 40.1% |
| BAC Bank of America | Q3 2026 | $30.0B | +3% | 29.9% |
| C Citigroup | Q3 2026 | $23.8B | +8% | 30.6% |
| WFC Wells Fargo | Q3 2026 | $21.9B | +2% | 32.5% |
| COF Capital One Financial | Q3 2026 | $16.3B | +6% | 28.0% |
| USB US Bancorp | Q3 2026 | $8.0B | +9% | 35.1% |
| PNC PNC Financial Services Group | Q3 2026 | $6.6B | +11% | 40.0% |
| TFC Truist Financial | Q3 2026 | $3.7B | -28% | 23.9% |
Source: Bank First 10-Q on SEC EDGAR · CIK 1746109 · National Commercial Banks
Guidance and outlook
13F: who owns BFC and who is buying
More on BFC
History
Every quarter: Q3 2026 results