The stock may react negatively to the GAAP EPS miss despite the adjusted beat, with focus on the 45bps NIM compression. Monitor integration costs and whether cost synergies from the Centre acquisition materialize in coming quarters.
Price Chart
Executive Summary
Bank First reported Q1 2026 earnings with GAAP EPS of $1.78, missing consensus by 24.2%, but adjusted EPS of $2.24 beat expectations. The bank completed its acquisition of Centre Bancorp, driving significant balance sheet growth and noninterest income expansion, though net interest margin declined to 3.96%.
Key Financial Metrics
Key Facts
- GAAP EPS of $1.78 missed consensus of $2.35 by 24.2%
- Adjusted EPS of $2.24 beat expectations after removing $6.5M acquisition costs
- Net interest margin declined to 3.96% from 4.01% in prior quarter
- Acquisition of Centre Bancorp added $1.48B in assets and $1.38B in deposits
- Noninterest income doubled to $10.5M, driven by new Trust and Wealth Management line
Financial Impact
Adjusted net income beat by 4.9% vs consensus, but GAAP EPS missed by 24.2%
Risk Factors
- NIM compression from acquisition-related purchase accounting unwind
- Elevated nonperforming assets at $30M (0.50% of total assets)
- Integration risks from Centre Bancorp acquisition
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-044352 |
| Document: tm2611895d1_8k.htm | 0001104659-26-044352 |
| Document: 0001104659-26-044352-index-headers.html | 0001104659-26-044352 |
| Document: 0001104659-26-044352-index.html | 0001104659-26-044352 |
| Document: 0001104659-26-044352.txt | 0001104659-26-044352 |
| 8-K Data (Synthetic) | 0001104659-26-044352 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | 8-K | $142.04 | awaiting T+20 | — | $148.74 (−4.72%) |
Sep 22, 2026 4w ago | Institutional Cluster | $150.83 $148.34 | ▼ −1.65% | ▼ −1.09% | $148.74 (−1.39%) |
Aug 24, 2026 9w ago | Insider Buy | $154.08 $150.83 | ▼ −2.11% | ▼ −3.42% | $148.74 (−3.47%) |
Aug 4, 2026 12w ago | EFFECT | $156.08 $150.33 | ▼ −3.68% | ▼ −2.45% | $148.74 (−4.70%) |
Jul 30, 2026 12w ago | S-4/A | $152.74 $152.81 | ▲ +0.05% | ▼ −2.94% | $148.74 (−2.62%) |
Jul 17, 2026 14w ago | S-4 | $145.82 $156.88 | ▲ +7.58% | ▲ +3.46% | $148.74 (+2.00%) |
Jun 11, 2026 19w ago | Institutional Cluster | $143.99 $146.67 | ▲ +1.86% | ▼ −0.03% | $148.74 (+3.30%) |
May 19, 2026 22w ago | 8-K | $143.05 $142.68 | ▼ −0.26% | ▼ −1.00% | $148.74 (+3.98%) |
Apr 24, 2026 26w ago | DEFA14A | $144.19 $142.37 | ▼ −1.26% | ▼ −5.29% | $148.74 (+3.16%) |
Apr 22, 2026 26w ago | 8-K | $141.83 $143.05 | ▲ +0.86% | ▼ −3.77% | $148.74 (+4.87%) |
US Market Status
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