BFCBank First Corp
National Commercial Banks
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $1.7B
- Employees
- 380
- Net debt / EBITDA
- —
- −$264M net debt
- AI in 10-K
- 2.2
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo1 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$1M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo87% of net incomeCash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo35% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo4% of assetsOver 40% of assets
- Shareholder dissentNo94% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo2.2 per 10K words · 59th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.7B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$2M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Net income | $45M | $45M | $75M | $66M | $72M | 9.1% |
| Operating cash flow | $40M | $40M | $53M | $66M | $62M | 5.1% |
| Capex | $9M | $7M | $13M | $7M | $11M | 58% |
| Stock-based comp | $1M | $2M | $2M | $2M | $2M | 1.7% |
| Buybacks | $8M | $14M | $10M | $32M | $22M | 31% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $335K · 5
- Open-market sells, 12 mo
- $3M · 3
- Net
- −$2M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $2M | $2M | 211 | 126 |
| FY2024 | $2M | $2M | 162 | 113 |
| FY2023 | $1M | $2M | 139 | 103 |
| FY2022 | $1M | $2M | 147 | 89 |
| FY2021 | $1M | $1M | 113 | 114 |