BankFirst Capital Corporation Reports Q3 2026 Net Income of $8.53 Million
BankFirst Capital Corporation (BFCC) reported a significant year-over-year increase in net income for the third quarter of 2026, reaching $8.53 million ($1.47 per share). This represents substantial growth compared to the $5.20 million earned during the same period in 2025. The company attributed much of this variance to the normalization of earnings following the acquisition of The Magnolia State Corporation, which had previously incurred one-time provision expenses. The bank's balance sheet showed steady expansion, with total assets rising 2.7% to $3.43 billion and gross loans increasing by 7% year-over-year. Additionally, net interest income grew by 5% to $30.45 million. Management noted that credit quality remains stable despite a slight uptick in the non-performing assets ratio to 0.52%. Strategically, BankFirst has met conditions to repurchase its Senior Preferred stock from the U.S. Treasury. However, management intends to defer this exercise until after June 15, 2027, to potentially benefit from a decreased dividend rate, which would lower the overall repurchase cost.
Tickers: $BFCC
Topics: banking earnings report financial results net income
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