Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 WISCONSIN 39-1435359 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 402 North 8th Street, Manitowoc, Wisconsin 54220 (Address of principal executive offices) (Zip Code) (920) 652-3100 OR ☐ TRANSITION REPORT PURSU ...

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, April 21:InterDigital, Inc. (IDCC) : This global research and development company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 14.7% over the last 60 days.InterDigital's shares gained 10.6% over the last three months compared with the S&P 500’s decline of 12.7%. The company possesses a Momentum Score of B.Bank First Corporation (BFC) : This holdi ...

Bank First Corporation (BFC) came out with quarterly earnings of $1.82 per share, beating the Zacks Consensus Estimate of $1.62 per share. This compares to earnings of $1.51 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.35%. A quarter ago, it was expected that this company would post earnings of $1.55 per share when it actually produced earnings of $1.74, delivering a surprise of 12.26%.Over the last four quarters, the co ...

Exhibit 99.1 NEWS RELEASE Net interest margin ("NIM") was 3.65% for the first quarter of 2025, compared to 3.61% for the previous quarter and 3.62% for the first quarter of 2024. NII from purchase accounting increased NIM by 0.10%, 0.08% and 0.13% for each period, respectively. The Bank's cost of funds declined 0.08% quarter-over-quarter despite persistent elevated levels of interest-bearing demand and savings deposits in accounts that garner some of the highest yielding rates in the Bank's deposit portfoli ...

Bank First Corporation (BFC) shares rallied 3.4% in the last trading session to close at $101.56. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.4% loss over the past four weeks.Bank First Corporation witnessed a strong price surge following Trump’s announcement on April 9, 2025, of a 90-day pause on reciprocal tariffs for most trading partners, excluding China. The tariff pause reduced immediate fears of ...

Group 1 - Annaly Capital Management (NLY) is currently outperforming its peers in the Finance sector, with a year-to-date return of 19.8% compared to the sector average of 2% [4] - The Zacks Rank for Annaly Capital Management is 1 (Strong Buy), indicating a positive earnings outlook and strong analyst sentiment, with a 6.2% increase in the consensus estimate for full-year earnings over the past quarter [3][4] - Annaly Capital Management is part of the REIT and Equity Trust industry, which has gained an average of 8.5% this year, further highlighting its strong performance within this segment [6] Group 2 - Bank First Corporation (BFC) is another Finance stock that has outperformed the sector, with a year-to-date increase of 2.5% and a Zacks Rank of 2 (Buy) [5] - The consensus EPS estimate for Bank First Corporation has increased by 3% over the past three months, indicating a positive trend in earnings expectations [5] - The Banks - Northeast industry, to which Bank First Corporation belongs, is currently ranked 16 and has seen a decline of 4% this year, contrasting with the performance of Annaly Capital Management [6]

Interest Rate Risk Management - The Company actively manages interest rate risk through various tools, including interest rate sensitivity analysis and net interest margin reports [321]. - The Company’s asset-liability structure is configured to maximize yield-cost spread while minimizing adverse impacts from interest rate changes [317]. - The Company’s interest rate risk management aims to achieve sustainable growth in net interest income [320]. - The Company’s financial condition is sensitive to changes in interest rates, with various economic scenarios modeled to assess risk [322]. - The Company reported a projected net interest income decrease of 4.5% with a 300 basis point increase in interest rates [326]. - An instantaneous 200 basis point increase in interest rates is estimated to increase the economic value of equity by 3.00% [326]. - The Company’s profitability is significantly impacted by changes in interest rates, with a potential decrease of 1.5% in net interest income for a 100 basis point increase [326]. Financial Performance - The company reported a net income of $65.6 million for 2024, down from $74.5 million in 2023, which is a decrease of approximately 11.7% [347]. - Earnings per share (EPS) for 2024 was $6.50, compared to $7.28 in 2023, reflecting a decline of about 10.7% [347]. - Net interest income for 2024 was $137.8 million, compared to $133.5 million in 2023, indicating a year-over-year increase of about 3.0% [346]. - Noninterest income for 2024 was $19.7 million, significantly lower than $58.1 million in 2023, indicating a decrease of about 66.1% [346]. - The total income for the year ended December 31, 2024, was $67,746,000, a decrease from $78,844,000 in 2023, representing a decline of about 13.9% [508]. Asset and Liability Management - Total assets increased to $4.495 billion as of December 31, 2024, up from $4.222 billion in 2023, representing a growth of approximately 6.5% [344]. - Total deposits increased to $3.661 billion in 2024, up from $3.433 billion in 2023, marking an increase of approximately 6.6% [344]. - The total stockholders' equity increased to $639.7 million in 2024 from $619.8 million in 2023, representing a growth of approximately 3.2% [344]. - The total liabilities of the parent company decreased from $17,802,000 in 2023 to $15,709,000 in 2024, showing a reduction of approximately 11.7% [505]. Credit Losses and Allowances - The company’s allowance for credit losses on loans (ACL-Loans) was $44.1 million as of December 31, 2024, reflecting a slight increase from $43.6 million in 2023 [339]. - The provision for credit losses was a reversal of $800,000 in 2024, compared to a provision of $4.7 million in 2023, showing a significant change in credit loss expectations [346]. - The allowance for credit losses (ACL) for loans is estimated based on the amortized cost basis of the underlying loan, with significant factors including changes in the loan portfolio and expected future economic conditions [385]. - The provision for credit losses for loans was $100 thousand in 2024, a significant decrease from $4,292 thousand in 2023, indicating improved credit quality [436]. - The company has established an ACL for unfunded commitments of $2.9 million in 2024, down from $3.8 million in 2023, indicating a reduction in potential credit exposure [434]. Mergers and Acquisitions - The merger with Hometown Bancorp, Ltd. was completed on February 10, 2023, with a total merger consideration of approximately $130,452,000, including 1,450,272 shares of common stock valued at about $115,079,000 and cash of $15,373,000 [420]. - The fair value of total assets acquired in the merger on February 10, 2023, was $615,105,000, with an excess of assets over liabilities of $65,541,000 [421]. - Goodwill resulting from the merger amounted to $64,881,000, primarily due to synergies and cost savings from combining operations [422]. Securities and Investments - As of December 31, 2024, total available for sale securities were valued at $223,061,000, with unrealized losses of $12,855,000 [423]. - The estimated fair value of held to maturity securities was $109,424,000 as of December 31, 2024 [426]. - The company does not believe any of the debt securities in an unrealized loss position are credit impaired as of December 31, 2024 [424]. - The total carrying amount of cash and cash equivalents increased from $247,468,000 in 2023 to $261,332,000 in 2024, reflecting a growth of approximately 5% [502]. Regulatory and Compliance - The Company is subject to regulatory scrutiny and potential changes in legislation that may impact its operations and financial performance [330]. - The Company met all capital adequacy requirements as of December 31, 2024, including a conservation buffer of 2.50% [482]. Employee and Stockholder Information - Cash dividends increased to $1.55 per share in 2024, up from $1.15 per share in 2023, totaling $15,562,000 in dividends paid [357]. - The Company could declare dividends totaling approximately $101.1 million without prior approval as of December 31, 2024 [480]. - The Company’s employee stock ownership plan held 221,214 shares as of December 31, 2024, down from 272,132 shares in 2023 [475].

Core Viewpoint - Bank First Corporation (BFC) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Rising earnings estimates for Bank First Corporation suggest an improvement in its underlying business, likely leading to increased stock prices [5][8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [7][9]. - Bank First Corporation's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10]. Earnings Estimate Revisions - For the fiscal year ending December 2025, Bank First Corporation is expected to earn $6.90 per share, reflecting a 7% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Bank First Corporation has increased by 3%, indicating a positive trend in earnings estimates [8].

Core Viewpoint - Bank First Corporation (BFC) reported quarterly earnings of $1.74 per share, exceeding the Zacks Consensus Estimate of $1.55 per share, and showing an increase from $1.44 per share a year ago, representing an earnings surprise of 12.26% [1][2] Financial Performance - The company posted revenues of $40.07 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.19%, but down from $75.37 million year-over-year [2] - Over the last four quarters, Bank First Corporation has exceeded consensus EPS estimates four times and topped consensus revenue estimates three times [2] Stock Performance and Outlook - Bank First Corporation shares have decreased by approximately 0.2% since the beginning of the year, while the S&P 500 has gained 2% [3] - The company's current consensus EPS estimate for the upcoming quarter is $1.58 on revenues of $40.8 million, and for the current fiscal year, it is $6.70 on revenues of $170.4 million [7] Industry Context - The Banks - Northeast industry, to which Bank First Corporation belongs, is currently ranked in the top 25% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Core Viewpoint - Bank First Corporation reported a decline in net income for the fourth quarter and full year of 2024 compared to the previous year, but adjusted net income showed improvement, indicating a mixed financial performance [1][2]. Financial Performance - Net income for Q4 2024 was $17.5 million, or $1.75 per share, down from $34.9 million, or $3.39 per share in Q4 2023 [1]. - For the full year 2024, net income totaled $65.6 million, or $6.50 per share, compared to $74.5 million, or $7.28 per share in 2023 [1]. - Adjusted net income (non-GAAP) for Q4 2024 was $17.4 million, or $1.74 per share, up from $14.8 million, or $1.44 per share in Q4 2023 [2]. - Full year adjusted net income (non-GAAP) was $65.0 million, or $6.45 per share, compared to $59.2 million, or $5.82 per share in 2023 [2]. Operational Metrics - Return on assets for the year was 1.56%, maintaining above 1.50% for the second consecutive year [3]. - Net interest income (NII) for Q4 2024 was $35.6 million, slightly lower than the previous quarter but higher than Q4 2023 by $2.6 million [4]. - Net interest margin (NIM) was 3.61% for Q4 2024, down from 3.76% in the previous quarter and up from 3.53% in Q4 2023 [8]. Asset Quality - Nonperforming assets totaled $9.2 million as of December 31, 2024, down from $11.9 million in the previous quarter and $9.1 million a year earlier [15]. - The ratio of nonperforming assets to total assets was 0.21% at the end of Q4 2024, down from 0.28% in the prior quarter [15]. Balance Sheet Highlights - Total assets increased to $4.50 billion, a rise of $273.2 million, or 6.5%, from December 31, 2023 [12]. - Total loans reached $3.52 billion, up $174.2 million, or 5.2%, from the previous year [14]. - Total deposits were $3.66 billion, an increase of $228.2 million, or 6.7%, from December 31, 2023 [14]. Capital Position - Stockholders' equity was $639.7 million as of December 31, 2024, an increase of $19.9 million from the end of 2023 [16]. - Book value per common share was $63.89, compared to $59.80 at the end of 2023 [16]. Dividend Declaration - A quarterly cash dividend of $0.45 per share was declared, matching the previous quarter and representing a 28.6% increase from the prior year [17].