Here are the 424B prospectus supplements from Bank First Corporation (BFC) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow BFC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BFC filings page.
Bank First Corporation plans to acquire PSB Holdings, Inc. in a stock-for-stock merger where each PSB common share will be converted into 0.3470 of a Bank First common share, with cash paid for fractional shares. The exchange ratio is fixed, so the number of Bank First shares issuable is set, but the dollar value to PSB holders will fluctuate with Bank First’s market price.
Based on Bank First’s May 18, 2026 price of $143.66, the merger terms implied about $49.85 per PSB share versus PSB’s $27.60 price, an 80.6% premium; using the July 29, 2026 Bank First price of $151.78, the implied value was $52.67 versus PSB’s $50.67. The merger consideration can be adjusted downward if PSB’s tangible book value at closing is below $122,837,000.
PSB’s 7,200 preferred shares will be redeemed immediately before closing in exchange for Bank First promissory notes at $1,000 per preferred share, bearing 8.83% fixed interest and maturing October 1, 2027. The merger is subject to approval by at least two-thirds of PSB common and preferred shares (voting separately), regulatory approvals, tax opinions that the transaction qualifies as a Section 368(a) reorganization, and a cap on dissenting common shares of 5%.