Bank First National Corporation Approves Quarterly Cash Dividend, Payable on April 6, 2016; Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the Full Year of Fiscal 2016
January 22, 2016 at 04:31 pm
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Bank First National Corporation's board of directors approved a quarterly cash dividend of $0.14 per common share, a 7.7% increase from the previous quarter. The dividend is payable on April 6, 2016, to shareholders of record as of March 23, 2016.
The company reported earnings results for the fourth quarter and year ended December 31, 2015. For the year, the company reported net income of $13.4 million or $2.13 per share up 7.0% from 2014. Net interest income after provision for loan losses was $35.0 million compared to $32.9 million for 2014, representing a 6.4% increase year-over-year. Noninterest income was $7.5 million compared to $7.9 million during 2014. The primary cause of the decrease in noninterest income was a decline in revenues contributed by the Bank's investment in Ansay & Associates, LLC as they absorbed one-time expenses from a current year business acquisition leading to a year-over-year negative variance of $0.63 million.
For the quarter, the company earned $3.1 million or $0.49 per share. Net interest income after provision for loan losses grew by 13.2% compared to the same period during 2014, rising from $7.9 million to $9.0 million.
The company provided earnings guidance for the full year of fiscal 2016. The company announced that as look toward 2016, it anticipates investment in Ansay will return historic profitability.
Bank First Corporation serves as the holding company of Bank First, N.A. (the Bank). The Bank has about 26 offices, including its headquarters, in Brown, Columbia, Dane, Fond du Lac, Jefferson, Manitowoc, Monroe, Outagamie, Ozaukee, Shawano, Sheboygan, Waupaca, Waushara, and Winnebago counties in the State of Wisconsin. The Bank serves businesses, professionals, and consumers with a variety of financial services, including retail and commercial banking. The Bank offers products, including checking accounts, savings accounts, money market accounts, cash management accounts, certificates of deposit, commercial and industrial loans, commercial real estate loans, construction and development loans, residential mortgages, consumer loans, online banking, telephone banking and mobile banking. The Bank has three subsidiaries: Bank First Investments, Inc., TVG Holdings, Inc. (TVG) and BFC Title, LLC. Bank First Investments, Inc. provides investment and safekeeping services to the Bank.
Bank First National Corporation Approves Quarterly Cash Dividend, Payable on April 6, 2016; Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the Full Year of Fiscal 2016
BANK FIRST CORPORATION 
