Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 64,419	$ 55,345
Interest-bearing deposits	334,219	187,862
Cash and cash equivalents	398,638	243,207
Securities held to maturity, at amortized cost ($117,590 and $105,146 fair value at March 31, 2026 and December 31, 2025, respectively)	117,929	103,726
Securities available for sale, at fair value ($496,205 and $171,796 amortized cost at March 31, 2026 and December 31, 2025, respectively)	483,235	164,422
Loans held for sale	9,751	6,243
Loans	4,515,626	3,604,651
Allowance for credit losses - loans ("ACL-Loans")	(57,067)	(44,374)
Loans, net	4,458,559	3,560,277
Premises and equipment, net	93,140	79,217
Goodwill	246,370	175,106
Other investments	30,674	23,613
Cash value of life insurance	97,275	61,085
Core deposit intangibles, net	45,538	16,200
Mortgage servicing rights ("MSR")	17,484	13,650
Other real estate owned ("OREO")	3,190
Investment in Ansay and Associates, LLC ("Ansay")	35,728	35,444
Other assets	31,502	23,905
TOTAL ASSETS	6,069,013	4,506,095
Deposits:
Interest-bearing deposits	3,589,919	2,692,711
Noninterest-bearing deposits	1,496,897	1,003,076
Total deposits	5,086,816	3,695,787
Notes payable	99,992	109,966
Subordinated notes	16,603	12,000
Junior subordinated debenture	8,250
Other liabilities	37,499	44,506
Total liabilities	5,249,160	3,862,259
Stockholders' equity:
Serial preferred stock - $0.01 par value; Authorized - 5,000,000 shares
Common stock - $0.01 par value; Authorized - 20,000,000 shares; Issued - 12,898,070 and 11,515,130 shares as of March 31, 2026 and December 31, 2025, respectively; Outstanding - 11,222,442 and 9,834,623 shares as of March 31, 2026 and December 31, 2025, respectively	129	115
Additional paid-in capital	500,627	333,836
Retained earnings	431,374	416,997
Treasury stock, at cost - 1,680,507 and 1,503,042 shares as of December 31, 2025 and December 31, 2024, respectively	(102,832)	(102,088)
Accumulated other comprehensive loss	(9,445)	(5,024)
Total stockholders' equity	819,853	643,836
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 6,069,013	$ 4,506,095

Bank First Corp 10-Q