Bank First Corp（BFC）資訊與事件BFCBank First Corp

Bank First to Acquire Peoples State Bank in $202.9M All-Stock Deal

Bank First, the holding company of Bank First, N.A., announced that it has entered into an Agreement and Plan of Merger with PSB Holdings, parent company of Peoples State Bank, a Wisconsin state-chartered bank, under which Bank First will acquire 100% of the common stock of Peoples in an all-stock transaction. Under the terms of the Agreement and Plan of Merger, each Peoples shareholder will have the right to receive 0.3470 of a share of Bank First's common stock in exchange for each share of Peoples common stock. The aggregate consideration is valued at approximately $202.9M, based on the closing price of Bank First common stock as of May 18, 2026, of $143.66 per share. Bank First expands into attractive markets across North Central Wisconsin and the greater Milwaukee area, with a complementary branch network, while Peoples benefits from the scale, resources, and technology of a larger institution without sacrificing local decision making or its community-focused culture. The Boards of Directors of Bank First and Peoples have approved the Agreement and Plan of Merger. Subject to customary closing conditions, regulatory approval, and approval by Peoples' shareholders, the transaction's closing and systems conversion are expected to occur in the Q4. Piper Sandler & Co. served as financial advisor to Bank First, and Alston & Bird served as legal counsel. Raymond James & Associates, served as financial advisor to Peoples, and Boardman Clark served as legal counsel.

Bank First Completes Acquisition of Centre 1 Bancorp, Q1 Net Interest Income Rises

Reports Q1 net interest margin 3.96% vs. 4.01% for the previous quarter and 3.65% for 1Q25. Tangible book value per share totaled $47.04 at March 31, 2026, vs. $46.01 at December 31, 2025. Q1 net interest income was $53.2M, up $13.1M from the previous quarter and up $16.7M from 1Q25."On January 1, 2026, we successfully completed our acquisition of Centre 1 Bancorp, Inc., the holding company for First National Bank and Trust, headquartered in Beloit, Wisconsin. This acquisition marked another milestone in Bank First's long-term growth strategy and established our new Stateline Region...The integration of these specialized services is already enhancing our ability to deliver comprehensive financial solutions across our legacy markets, and we are actively investing in the continued build-out of our Wealth Management platform throughout our footprint. As part of our disciplined integration strategy, six overlapping First National Bank and Trust branches were permanently closed upon completion of the acquisition. In addition, we are planning to build new, modern offices in Walworth, Delavan, and Monroe. These new locations will strengthen our long-term presence in high-potential relationship markets while allowing us to consolidate and close two additional First National Bank and Trust branches," said Mike Molepske, Chairman and CEO of Bank First Corporation.

Bank First Reports 4.01% Net Interest Margin in Q4

Net interest margin was 4.01% for the fourth quarter of 2025, compared to 3.88% for the previous quarter and 3.61% for the fourth quarter of 2024. "We are pleased to announce that the company's annual earnings per share increased by more than 15% despite incurring $1.5 million in expenses related to the merger with Centre, the parent company of First National Bank and Trust Company, headquartered in Beloit, Wisconsin," stated Mike Molepske, Chairman and CEO of Bank First. "The acquisition of FNBT is the most transformational event in Bank First's 131-year history, bringing together two relationship-based, community-focused organizations. This acquisition is more than twice the size of our largest previous merger, expands us into Walworth, Rock, and Green Counties in Wisconsin, and into Winnebago County in Illinois, and brings Trust and Wealth Management to Bank First."