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Bank First (Bank First) Long-Term Debt & Capital Lease Obligation : $51.4 Mil (As of Dec. 2023)


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What is Bank First Long-Term Debt & Capital Lease Obligation?

Long-Term Debt & Capital Lease Obligation is the debt and capital lease obligation due more than 12 months in the future. Bank First's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $51.4 Mil.

LT-Debt-to-Total-Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligation divides by its Total Assets. Bank First's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $51.4 Mil. Bank First's Total Assets for the quarter that ended in Dec. 2023 was $4,221.8 Mil. Bank First's LT-Debt-to-Total-Asset for the quarter that ended in Dec. 2023 was 0.01.

Bank First's LT-Debt-to-Total-Asset increased from Dec. 2022 (0.01) to Dec. 2023 (0.01). It may suggest that Bank First is progressively becoming more dependent on debt to grow their business.


Bank First Long-Term Debt & Capital Lease Obligation Historical Data

The historical data trend for Bank First's Long-Term Debt & Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Bank First Long-Term Debt & Capital Lease Obligation Chart

Bank First Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Long-Term Debt & Capital Lease Obligation
Get a 7-Day Free Trial Premium Member Only Premium Member Only 68.41 40.97 25.51 25.43 51.39

Bank First Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Long-Term Debt & Capital Lease Obligation Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 70.99 70.27 70.32 51.39 47.30

Bank First Long-Term Debt & Capital Lease Obligation Calculation

Long-Term Debt is the debt due more than 12 months in the future. The debt can be owed to banks or bondholders. Some companies issue bonds to investors and pay interest on the bonds.

Long-Term Capital Lease Obligation represents the total liability for long-term leases lasting over one year. It's amount equal to the present value (the principal) at the beginning of the lease term less lease payments during the lease term.

The interest paid on companies' debt is reflected in the income statement as interest expense. If a company has too much debt and it cannot serve the interest payment on the debt or repay the matured debt, the company risks bankruptcy. Peter Lynch famously said: A company that does not have debt cannot go bankrupt.

A company's long term debt may have different dates of maturity and interest rates, depending on the terms.

Usually a company issues long term debt to pay for its capital expenditures. Borrowing allows the company to do things that otherwise cannot be done with only the capital it has. But debt can be risky.


Bank First  (NAS:BFC) Long-Term Debt & Capital Lease Obligation Explanation

LT-Debt-to-Total-Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

Bank First's LT-Debt-to-Total-Asset ratio for the quarter that ended in Dec. 2023 is calculated as:

LT-Debt-to-Total-Asset (Q: Dec. 2023 )=Long-Term Debt & Capital Lease Obligation (Q: Dec. 2023 )/Total Assets (Q: Dec. 2023 )
=51.394/4221.842
=0.01

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Buffett says that durable competitive advantages carry little to no long-term debt because the company is so profitable that even expansions or acquisitions are self financed.

We are interested in long term debt load for the last ten years. If the ten years of operation show little to no long term debt, then the company has some kind of strong competitive advantage.

Warren Buffett's historic purchases indicate that on any given year, the company should have sufficient yearly net earnings to pay all long term within 3 or 4 year earnings period. (e.g. Coke + Moody's = 1yr)

Companies with enough earning power to pay long term debt in less than 3 or 4 years is a good candidate in our search for long term competitive advantage.

BUT, these companies are targets for leveraged buy outs, which saddles the business with long term debt.

If all else indicates the company has a moat, but it has ton of debt, a leveraged buyout may have created the debt. In these cases the company's bonds offer the better bet, in that the company’s earnings power is focused on paying off the debt and not growth.

Important: little or no long term debt often means a Good Long Term Bet


Bank First Long-Term Debt & Capital Lease Obligation Related Terms

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Bank First (Bank First) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Bank First Corp (NAS:BFC) » Definitions » Long-Term Debt & Capital Lease Obligation
Traded in Other Exchanges
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Address
402 North 8th Street, Manitowoc, WI, USA, 54220
Bank First Corp is a United States-based company engaged in providing financial services provides a full range of consumer and commercial financial institution services to individuals and businesses including retail and commercial banking in Wisconsin. These services include credit cards; secured and unsecured consumer, commercial, and real estate loans; demand, time, and savings deposits; and ATM processing. The Corporation also offers a full line of insurance services and checking accounts, savings accounts, money market accounts, cash management accounts, certificates of deposit, commercial and industrial loans, commercial real estate loans, construction and development loans, residential mortgages, consumer loans, credit cards, online banking, telephone banking, and mobile banking.
Executives
Kevin M. Lemahieu director C/O BANK FIRST NATIONAL CORPORATION, 402 NORTH 8TH STREET, MANITOWOC WI 54220
Michael B. Molepske director C/O BANK FIRST NATIONAL CORPORATION, 402 NORTH 8TH STREET, MANITOWOC WI 54220
Timothy J. Mcfarlane director, officer: President C/O BANK FIRST CORPORATION, 402 NORTH 8TH STREET, MANITOWOC WI 54220
Laura E Kohler director 402 N. 8TH STREET, MANITOWOC WI 54220
Jason V Krepline officer: Named Executive Officer 402 N. 8TH STREET, MANITOWOC WI 54220
Joan A Woldt officer: Named Executive Officer 402 N. 8TH STREET, MANITOWOC WI 54220
Phillip R Maples director 402 N. 8TH STREET, MANITOWOC WI 54220
Mary Kay Bourbulas director 402 NORTH 8TH STREET, MANITOWOC WI 54220
Stephen E Johnson director 402 N. 8TH ST., MANITOWOC WI 54220
Robert W. Holmes director C/O BANK FIRST CORPORATION, 402 N. 8TH STREET, MANITOWOC WI 54220
Donald R. Brisch director C/O BANK FIRST NATIONAL CORPORATION, 402 NORTH 8TH STREET, MANITOWOC WI 54220
David R Sachse director C/O BANK FIRST NATIONAL CORPORATION, 402 NORTH 8TH STREET, MANITOWOC WI 54220
Judy L Heun director 402 NORTH 8TH STREET, MANITOWOC WI 54220
Michael P. Dempsey director C/O BANK FIRST NATIONAL CORPORATION, 402 NORTH 8TH STREET, MANITOWOC WI 54220
Van Sistine Peter J. director C/O BANK FIRST NATIONAL CORPORATION, 402 NORTH 8TH STREET, MANITOWOC WI 54220