Bank First's Q2 net interest income rises, boosted by Centre acquisition
BFC•Reported metrics
| Metric | Actual | Consensus Estimate |
|---|---|---|
| Q2 EPS | $2.21 | $2.24 (2 analysts) |
| Q2 Net Income | $24.7 million | $26.39 million (2 analysts) |
| Q2 Net Interest Income | $55 million | — |
| Q2 Net Interest Margin | 4.13% | — |
Drivers of the quarter
Bank First said second-quarter results were significantly impacted by the acquisition of Centre, which increased total assets, net interest income, and noninterest income.
The company said net interest margin rose due to higher rates on earning assets and lower rates on interest-bearing liabilities, excluding purchase accounting impacts.
Bank First did not record a provision for credit losses in the quarter, citing a slight contraction in the legacy loan portfolio and increased allowance from the Centre acquisition.
Guidance and valuation context
Bank First did not provide specific guidance for the current quarter or full year.
The current average analyst rating on the shares is "buy", with 1 "strong buy" or , 1 , and no or ratings.
