Bank First Corporation Announces Completion of Centre 1 Bancorp, Inc. Acquisition

Bank First Corporation (Nasdaq: BFC) announced on Jan 2, 2026 that it has completed the acquisition of Centre 1 Bancorp, parent of The First National Bank and Trust Company.

Rhea-AI Summary

Bank First Corporation (Nasdaq: BFC) announced on Jan 2, 2026 that it has completed the acquisition of Centre 1 Bancorp, parent of The First National Bank and Trust Company.

Effective immediately, Bank First is adding trust and wealth management services and integrating First National Bank and Trust personnel. The combined company will operate 38 branches across Wisconsin and the Stateline area of Illinois and hold approximately $6 billion in assets. First National Bank and Trust will remain a division until a planned system conversion in May 2026, when locations will transition to the Bank First brand and digital platform. Centre CEO Steve Eldred will join Bank First's board.

Positive

• Added trust and wealth services expanding product offerings
• 38 branch network across WI and Stateline IL
• Combined balance sheet of approximately $6 billion
• Centre CEO Steve Eldred joining the board enhances governance continuity

Negative

• Planned system conversion in May 2026 carries integration and service-disruption risk

Argus Jan 2 session

-0.98% close to close Open Argus

Details

News Market Reaction – BFC

On Jan 2, the day this news came out, BFC closed 0.98% below the previous close.

Data tracked by StockTitan Argus for the Jan 2 session.

Market Context

This announcement finalizes Bank First’s acquisition of Centre 1 Bancorp, creating a combined instit...

Analysis

This announcement finalizes Bank First’s acquisition of Centre 1 Bancorp, creating a combined institution with 38 branches and roughly $6 billion in assets and adding trust and wealth management capabilities. It follows earlier milestones such as the definitive agreement and regulatory approvals. Investors may track integration progress through the planned May 2026 system conversion, branch rebranding, and how expanded services contribute to earnings and asset growth over time.

Key Figures

Current price: $121.82 52-week high: $139.71 52-week low: $92.49 +5 more

Current price

$121.82

Pre-news trading level

52-week high

$139.71

52-week trading range high

52-week low

$92.49

52-week trading range low

Branch locations

38 branches

Combined organization footprint

Total assets

$6 billion

Combined organization asset size post-acquisition

System conversion date

May 2026

Planned conversion of First National Bank and Trust

Volume today

36,572 shares

Compared with 20-day average of 59,762 shares

Market cap

$1,198,101,284

Pre-news market capitalization

Historical Context

4 past events · Latest: Oct 21

4 events

1. Oct 21

   Q3 2025 earnings

   24h Move

   +2.2%

   Stronger Q3 2025 net income and margins with dividend declaration.

2. Oct 16

   Regulatory approval

   24h Move

   -0.1%

   Regulatory approvals received to proceed with Centre 1 Bancorp merger.

3. Jul 18

   Deal announcement

   24h Move

   +0.3%

   Definitive agreement for all-stock acquisition of Centre 1 Bancorp.

4. Jul 18

   Q2 2025 earnings

   24h Move

   +0.3%

   Improved Q2 2025 earnings and margins with dividends and special payout.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

MANITOWOC, Wis., Jan. 2, 2026 /PRNewswire/ -- Bank First Corporation (Nasdaq: BFC) ("Bank First") today announced it has completed its acquisition of Centre 1 Bancorp, Inc. ("Centre"), parent company of The First National Bank and Trust Company ("First National Bank and Trust").

The closing marks an important milestone in bringing together two relationship-driven organizations. Effective immediately, Bank First is expanding its services to include trust and wealth management, integrating a skilled team from First National Bank and Trust. Customers now have access to a comprehensive suite of wealth planning, trust administration, and investment management services, provided by a team of professionals with deep expertise and a strong commitment to delivering personalized solutions.

First National Bank and Trust will continue to operate as a division of Bank First until the planned system conversion in May 2026. At that time, all locations will transition to the unified Bank First brand and digital banking platform. Throughout this process, customers will continue to work with familiar local teams, ensuring personalized service and a smooth transition as we move forward together.

The combined organization will operate 38 branch locations across Wisconsin and the Stateline area of Illinois, with approximately $6 billion in assets, strengthening its ability to serve individuals, businesses, and communities throughout the region.

Mike Molepske, Chairman and Chief Executive Officer of Bank First, stated, "This partnership brings together two long-standing, community-focused institutions committed to responsive, relationship-based banking. Together, we strengthen our ability to serve customers across Wisconsin and the Stateline area of Illinois with greater capabilities and expanded services."

Following the closing, Steve Eldred, Chairman and Chief Executive Officer of Centre, will join the Board of Directors of Bank First and its banking subsidiary, Bank First, N.A.

Piper Sandler & Co. served as financial advisor to Bank First, and Alston & Bird LLP served as legal counsel. Hovde Group, LLC served as financial advisor to Centre, and Barack Ferrazzano Kirschbaum & Nagelberg LLP served as legal counsel.

Contact:
Bank First: Mike Molepske, Chairman & CEO, mmolepske@bankfirst.com, (920) 652-3202

View original content:https://www.prnewswire.com/news-releases/bank-first-corporation-announces-completion-of-centre-1-bancorp-inc-acquisition-302651392.html

SOURCE Bank First Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When did Bank First (BFC) complete the acquisition of Centre 1 Bancorp?

The acquisition was completed on January 2, 2026.

How many branches will Bank First (BFC) operate after the Centre acquisition?

The combined organization will operate 38 branch locations across Wisconsin and the Stateline area of Illinois.

What asset size does Bank First (BFC) report after closing the Centre deal?

Following closing, the combined company has approximately $6 billion in assets.

When will First National Bank and Trust locations convert to Bank First systems (BFC)?

Locations will transition to the unified Bank First brand and digital platform at the planned system conversion in May 2026.

Will Bank First (BFC) offer new services after the Centre acquisition?

Yes; Bank First is expanding to include trust and wealth management, integrating First National Bank and Trust professionals.

Did any Centre executives join Bank First (BFC) leadership after the deal?

Yes; Centre CEO Steve Eldred will join Bank First's Board of Directors.