Bank First, subsidiary of First Manitowoc Bancorp., reported net income of $2.5 million, or 39 cents per share, for the third quarter, compared with $2.3 million, or 34 cents per share, during the same period in 2012.
President and CEO Mike Molepske said loans grew 11 percent and core deposits 12 percent on a year-over-year basis and the provision for loan loss was reduced.
Total assets at the end of the third quarter were $1.03 billion. Net loans totaled $794 million and total deposits $880 million.
"Our profitability and sound capital base provide us with the opportunity for investment in talent, technology and resources as a recipe to deliver our Bank First service model in current and new markets," Molepske said.