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Bank First Corporation is asking shareholders to vote at its June 15, 2026 annual meeting on four key items: electing three directors for three-year terms, ratifying Forvis Mazars, LLP as auditor for 2026, approving named executive officer pay on an advisory basis, and amending its Restated Articles of Incorporation.
The amendment would replace existing supermajority voting requirements for certain mergers and major asset sales with voting thresholds aligned to Wisconsin Business Corporation Law, which the Board says still provides strong shareholder protections but avoids minority blocking power and potential delays to strategic transactions. Shareholders of record at April 6, 2026, when 11,222,441 common shares were outstanding, are entitled to one vote per share and may vote by mail, phone, online, or in person.
Bank First Corp director Todd A. Sprang reported an open-market purchase of Bank First Corp common stock. On April 22, 2026, he bought 450 shares at $138.96 per share, increasing his direct holdings to 2,015 shares of common stock after the transaction.
Bank First Corp director Michael S. Stayer-Suprick bought shares of the company’s common stock in the open market. On this transaction, he purchased 225 shares at a price of $140.04 per share. After the purchase, he directly owned a total of 4,597 common shares.
Bank First Corporation renewed its share repurchase program, authorizing the company to buy back up to $60 million of common stock per year for two years, ending on April 20, 2028. The company may repurchase shares in open market or privately negotiated transactions at its discretion, depending on market conditions and other factors.
Bank First Corporation reported first-quarter 2026 net income of $20.0 million, or $1.78 per share, compared with $18.2 million, or $1.82 per share, a year earlier. Adjusted for $6.5 million of Centre 1 Bancorp acquisition costs and small asset-sale gains, adjusted net income was $25.1 million, or $2.24 per share.
The January 1, 2026 Centre acquisition added $1.48 billion of assets, lifting total assets 33% to $6.07 billion. Net interest income rose to $53.2 million and net interest margin was 3.96%. Noninterest income more than doubled to $10.5 million, helped by new trust and wealth management fees and higher service charges.
Noninterest expense increased to $39.1 million, largely from integration costs, added locations, and higher intangible amortization. Asset quality weakened as nonperforming assets rose to $30.0 million, or 0.50% of assets, including one $12.9 million relationship and acquired problem credits. Book value per share reached $73.05, while tangible book value per share was $47.04. The quarterly dividend was raised to $0.55 per share, up 10% from the prior quarter and 22.2% year over year.
Bank First Corporation is soliciting proxies for its 2026 Annual Meeting of Shareholders to be held on June 15, 2026 at 4:00 p.m. CDT. Shareholders of record as of April 6, 2026 may vote. The meeting will consider the election of three directors, ratification of Forvis Mazars, LLP as independent auditors, an advisory vote on named executive officer compensation, and an amendment to Article VIII of the Restated Articles of Incorporation to align certain shareholder approval thresholds with Wisconsin law. The proxy package and Bank First’s 2025 Annual Report are available at www.envisionreports.com/BFC. On the Record Date there were 11,222,441 shares outstanding; a quorum requires a majority of outstanding shares.
Bank First Corp Chief Financial Officer Kevin M. LeMahieu reported a bona fide gift of 1,785 shares of Common Stock on April 9, 2026, at a value of $142.61 per share. Following this gift transfer, he directly owns 22,021 Bank First Corp shares, including shares held in the Bank First Retirement Plan.
Bank First Corp amendment reports that The Vanguard Group holds 0% of the company’s common stock as of this filing. The amendment explains an internal realignment effective January 12, 2026 that caused certain Vanguard subsidiaries and business divisions to report disaggregated holdings under SEC Release No. 34-39538 (January 12, 1998).
The filing states amount beneficially owned: 0 and lists voting and dispositive powers as zero. Signature is by Ashley Grim, Head of Global Fund Administration, dated 03/26/2026.
MCCONEGHY DANIEL C reported acquisition or exercise transactions in this Form 4 filing.
Bank First Corp director Daniel C. McConeghy received a grant of 407 shares of Common Stock on March 6, 2026 at $135.23 per share. This was a compensation-related award, not an open-market purchase, bringing his direct holdings to 2,407 shares after the grant.
Bank First Corporation filed an amended report to add full financial statements for its acquired business, Centre 1 Bancorp, Inc., and unaudited pro forma combined results reflecting their completed merger.
Centre 1 ended December 31, 2025 with total assets of about $1.60 billion, deposits of $1.38 billion, and net loans of $987.1 million. Net income for 2025 was $1.8 million, down from $6.1 million in 2024, mainly as higher noninterest expenses and a $5.1 million loss on investment sales offset solid net interest income of $41.4 million. However, other comprehensive income swung strongly positive on investment valuation gains, lifting 2025 comprehensive income to $21.4 million. Shareholders’ equity rose to $118.2 million, helped by improved unrealized securities positions.
The filing also confirms the merger terms already disclosed: Centre 1 shareholders received 0.9200 BFC share per Centre 1 share plus cash in lieu of fractional shares, with approximately 1,382,940 BFC shares issued and total stock consideration valued at about $168.5 million.