Bank First National (BFC) financial statements
Bank First National reported revenue of $174M in fiscal 2025, up 15.4% a year over 9 years.
Net income was $71M.
Free cash flow was $51M, and the company returned $22M in net buybacks.
The diluted share count rose 59% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Bank First National's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $48M | $56M | $75M | $82M | $106M | $114M | $124M | $192M | $157M | $174M |
| Interest expense | $6M | $8M | $15M | $19M | $14M | $8M | $12M | $49M | — | — |
| Pre-tax income | $23M | $24M | $32M | $34M | $50M | $60M | $60M | $99M | $80M | $88M |
| Income tax | $8M | $9M | $7M | $8M | $12M | $15M | $14M | $24M | $14M | $17M |
| Net income | $15M | $15M | $25M | $27M | $38M | $45M | $45M | $75M | $66M | $71M |
| EPS (diluted) | $2.40 | $2.44 | $3.81 | $3.87 | $5.07 | $5.92 | $5.58 | $7.28 | $6.50 | $7.23 |
| Diluted shares | 6M | 6M | 7M | 7M | 7M | 8M | 8M | 10M | 10M | 10M |
| Net margin | 31.0% | 27.6% | 34.1% | 32.4% | 36.0% | 40.0% | 36.5% | 38.9% | 41.6% | 41.1% |
Balance sheet
Fiscal years, from Bank First National's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $80M | $102M | $108M | $86M | $170M | $297M | $119M | $247M | $261M | $243M |
| Property, plant and equipment | — | $19M | $24M | $35M | $43M | $49M | $56M | $70M | $71M | $79M |
| Goodwill | — | $15M | $15M | $43M | $55M | $55M | $110M | $175M | $175M | $175M |
| Total assets | — | $1.8B | $1.8B | $2.2B | $2.7B | $2.9B | $3.7B | $4.2B | $4.5B | $4.5B |
| Long-term debt | — | — | — | $38.4B | — | — | — | — | — | — |
| Total liabilities | — | $1.6B | $1.6B | $2.0B | $2.4B | $2.6B | $3.2B | $3.6B | $3.9B | $3.9B |
| Shareholders' equity | $128M | $162M | $174M | $230M | $295M | $323M | $453M | $620M | $640M | $644M |
| Net debt | -$80M | -$102M | -$108M | $39.7B | -$170M | -$297M | -$119M | -$247M | -$261M | -$243M |
Cash flow
Fiscal years, from Bank First National's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $14M | $18M | $23M | $23M | $44M | $40M | $40M | $53M | $66M | $62M |
| Capital spending | $1M | $3M | $8M | $7M | $8M | $9M | $7M | $13M | $7M | $11M |
| Free cash flow | $13M | $15M | $15M | $15M | $36M | $32M | $33M | $39M | $59M | $51M |
| Stock-based compensation | $419,000 | $465,000 | $556,000 | $685,000 | $1M | $1M | $2M | $2M | $2M | $2M |
| Share buybacks (net) | -$3M | -$4M | -$10M | -$4M | -$4M | -$8M | -$14M | -$10M | -$32M | -$22M |
| Net borrowing | $0 | $0 | $1.2B | $34M | -$7M | — | — | — | — | — |
| Free cash flow margin | 27.4% | 27.9% | 20.3% | 18.7% | 33.7% | 27.8% | 26.8% | 20.6% | 37.2% | 29.4% |
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Open BFC in InvestinglyQuestions
What was Bank First National's revenue in 2025?
$174M in fiscal 2025, from its 10-K filing.
How much free cash flow does Bank First National generate?
$51M in fiscal 2025 (operating cash flow minus capital spending).
From Bank First National's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.