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Sep 30
FS Bancorp Q3 2025 Earnings Report
Bank First reported higher net income and EPS in Q3 2025, driven by increased net interest income and strong loan performance.
Key Takeaways
Bank First posted solid Q3 2025 results with $18.0 million in net income and EPS of $1.83. Adjusted EPS reached $1.91. Strong loan repricing and improved net interest margin contributed to higher profitability, despite increased noninterest expenses tied to pending acquisitions.
Net income was $18.0 million for Q3 2025, up from $16.6 million in Q3 2024.
EPS increased to $1.83; adjusted EPS was $1.91 after excluding merger-related items.
Net interest income rose to $38.3 million, supported by favorable loan repricing.
Total assets reached $4.42 billion, and nonperforming assets remained low at 0.31% of total assets.
FS Bancorp
FS Bancorp
Forward Guidance
Bank First expects continued improvements in loan yields due to repricing trends and stable asset quality, although merger-related costs may impact near-term expenses.
Positive Outlook
- Loan repricing expected to boost yields.
- Asset quality remains strong with negligible net loan losses.
- Core deposit base remains solid.
- Earnings growth driven by expanding loan portfolio.
- Stable personnel expenses with controlled growth.
Challenges Ahead
- Merger-related costs impacted noninterest expense.
- Nonperforming assets increased slightly YoY.
- Provision for credit losses increased due to loan growth.
- Capital levels slightly declined from year-end due to dividend payouts and stock repurchases.
- Outside service fees rose significantly due to acquisition activity.