Bank First Corporation Receives Regulatory Approval to Acquire Centre 1 Bancorp, Inc.

Rhea-AI Summary

Bank First Corporation (Nasdaq: BFC) received all required regulatory approvals to complete its planned merger with Centre 1 Bancorp, Inc., parent of The First National Bank and Trust.

The transaction is slated to close on January 1, 2026, subject to customary closing conditions and approval by Centre shareholders. After closing, First National Bank and Trust will operate as a division of Bank First until a system conversion expected in Q2 2026, when branches will adopt the Bank First name and clients will move to Bank First's digital banking platform.

Bank First reported total assets of approximately $4.4 billion and serves central and northeastern Wisconsin with commercial, mortgage, and consumer lending products.

Positive

• Received all required regulatory approvals to close the merger
• Planned close date set for January 1, 2026
• System conversion timeframe provided: Q2 2026
• Bank First total assets approximately $4.4 billion

Negative

• Closing remains subject to approval by Centre shareholders
• Transaction subject to customary closing conditions
• First National Bank and Trust will operate as a division until system conversion in Q2 2026

MANITOWOC, Wis,, Oct. 16, 2025 /PRNewswire/ -- Bank First Corporation (Nasdaq: BFC) ("Bank First"), the holding company of Bank First, N.A., announced today that it has received all required regulatory approvals to complete its planned merger with Centre 1 Bancorp, Inc. ("Centre"), parent company of The First National Bank and Trust ("First National Bank and Trust"). The transaction will close on January 1, 2026, subject to customary closing conditions and approval by Centre's shareholders.

"Receiving regulatory approval allows us to begin the transition toward operating as Bank First, a move that reflects our shared commitment to long-term growth and community-focused banking," said Mike Molepske, Chairman and Chief Executive Officer of Bank First. "This merger brings together two institutions with aligned values and complementary strengths, positioning us to better serve our customers with expanded resources, broader capabilities, and a continued focus on relationship banking."

Following the close of the transaction, First National Bank and Trust will become a division of Bank First until the system conversion, expected to take place in the second quarter of 2026. At that time, all First National Bank and Trust offices will fully transition to the Bank First name, and customers will be transitioned to the Bank First system and digital banking platform.

Bank First Corporation and Bank First, N.A.
Bank First Corporation is the holding company for Bank First, N.A., a relationship-focused financial institution headquartered in Manitowoc, Wisconsin. With total assets of approximately $4.4 billion, the bank offers a comprehensive range of financial services, including commercial, mortgage, and consumer lending, as well as various deposit and savings options. It primarily serves customers throughout central and northeastern Wisconsin. Founded in 1894, the institution has a long-standing history of supporting the communities it serves. For more information, visit www.bankfirst.com.

About Centre 1 Bancorp, Inc. and The First National Bank and Trust Company
Centre 1 Bancorp, Inc. is the holding company of The First National Bank and Trust Company, a family-owned community bank headquartered in Beloit, Wisconsin. Chartered in 1882, First National Bank and Trust Company serves customers across southern Wisconsin and northern Illinois with a strong commitment to full-service banking, investments, asset management, and exceptional service. Its dedication to delivering Sound Advice has helped position the bank as a trusted leader in the Stateline region. For additional information, visit www.bankatfirstnational.com.

Contacts
Bank First:  Mike Molepske, Chairman & CEO, at mmolepske@bankfirst.com or (920) 652-3202
Centre:   Don O'Day, President, at don.oday@bankatfirstnational.com or (608) 363-8007

For further information, contact:
Deb Weyker, SVP Marketing
Phone: (920) 652-3274, dweyker@bankfirst.com

View original content:https://www.prnewswire.com/news-releases/bank-first-corporation-receives-regulatory-approval-to-acquire-centre-1-bancorp-inc-302587084.html

SOURCE Bank First Corporation

FAQ

When will Bank First (BFC) complete the merger with Centre 1 Bancorp?

The planned closing date is January 1, 2026, subject to customary closing conditions and Centre shareholder approval.

What approvals did Bank First (BFC) receive for the Centre 1 Bancorp merger?

Bank First announced it has received all required regulatory approvals to complete the planned merger.

When will First National Bank and Trust convert to the Bank First system after the BFC merger?

The system conversion and full rebranding to Bank First are expected to occur in Q2 2026.

How large is Bank First (BFC) ahead of closing the Centre 1 Bancorp deal?

Bank First is reported to have total assets of approximately $4.4 billion.

Will First National Bank and Trust immediately change its name after the BFC merger closes?

No; it will operate as a division of Bank First until the planned system conversion in Q2 2026, when branches will adopt the Bank First name.