BankFirst Q1 net income rises, net interest income up 30%

Bankfirst

28/04/2026 12:08

Overview

U.S. regional bank's Q1 net income rose yr/yr, supported by loan and deposit growth

Net interest income for Q1 grew 30% yr/yr as cost of funds declined

Company repurchased 50,000 shares under previously announced buyback program

Outlook

BankFirst expects to maintain eligibility for 1.25% dividend rate on Senior Preferred for next annual cycle

Company says economic uncertainty and elevated rates may require additional credit loss provisions

Result Drivers

LOAN AND DEPOSIT GROWTH - Co said steady organic loan and deposit growth supported Q1 results

DECLINING COST OF FUNDS - Co said a lower cost of funds contributed to net interest margin expansion

MAGNOLIA ACQUISITION IMPACT - Completion of the Magnolia Acquisition in July 2025 contributed to increases in total assets and deposits yr/yr

Company press release: ID:nPn9hRnlpa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
$8.39 mln
Q1 Net Interest Income
$28.51 mln
Q1 Pretax Profit
$10.27 mln
Q1 Provision for Credit Losses
$900,000


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)