BankFirst Q4 net income rises
Overview
Banking firm's Q4 net income rose to $10.17 mln, up from $7.67 mln in Q4 2024
Net interest income for Q4 increased to $27.87 mln from $22.23 mln in Q4 2024
Company repurchased 104,583 shares in Q4 under $10 mln stock buyback program
Outlook
Company did not provide specific financial guidance for future quarters or years in its press release
Result Drivers
ASU ADOPTION - Early adoption of ASU 2025-08 increased net income by $2.87 mln net of tax due to reversal of credit loss provision from Magnolia Acquisition
MAGNOLIA ACQUISITION - Magnolia Acquisition contributed to asset and deposit growth, with total assets up 17.7% and deposits up 19% year-over-year
LOAN AND DEPOSIT GROWTH - Total gross loans and deposits increased by 19% each, driven by organic growth and Magnolia Acquisition
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 EPS |
| $1.74 |
|
Q4 Net Income |
| $10.17 mln |
|
Q4 Net Interest Income |
| $27.87 mln |
|
Q4 Pretax Profit |
| $13.38 mln |
|
Q4 Provision for Credit Losses |
| -$2.60 mln |
|
Press Release: ID:nPn2DbTCza
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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