Bank First Corporation filings document its bank holding company operations, Nasdaq-listed common stock and disclosures for Bank First, N.A. Form 8-K reports furnish quarterly earnings, financial condition updates, share repurchase authorization, board appointments and completed bank merger disclosures.
Proxy materials cover annual meeting voting, director elections, executive compensation, auditor matters and corporate governance. The filing record also reflects capital-structure information for BFC common stock and material-event reporting related to acquisitions, governance changes and shareholder matters.
Bank First Corporation is planning a stock‑for‑stock acquisition of PSB Holdings, Inc. in a strategic bank merger. Each PSB common share will be converted into 0.3470 shares of Bank First common stock, valuing the deal at approximately $202.9 million based on Bank First’s May 18, 2026 closing price. The transaction is expected to close in the fourth quarter of 2026, subject to PSB shareholder approval, regulatory clearances, SEC effectiveness of a Form S‑4 registration statement, and other customary conditions, including tax opinions that the deal qualifies as a reorganization under Section 368(a). A side letter fixes the earliest closing date at December 4, 2026 and, if closing is delayed beyond that date for reasons not attributable to PSB, allows PSB’s board to declare a one‑time special dividend of $1.00 per common share without reducing tangible book value for deal purposes. The combined company is projected to have about $7.6 billion in assets, with management targeting roughly 14.2% EPS accretion in 2027, about 1.0% tangible book value dilution at closing, and a 0.25‑year earnback period.
Bank First Corporation reported first-quarter 2026 net income of $19.99 million, up from $18.24 million a year earlier, while diluted earnings per share were $1.78 versus $1.82 as the share count rose after a major acquisition.
On January 1, 2026, the company completed its merger with Centre 1 Bancorp, Inc., issuing 1,382,940 shares and paying total merger consideration of about $168.8 million. The deal added approximately $1.58 billion of assets and $1.48 billion of liabilities, resulting in $71.26 million of goodwill and $31.91 million of core deposit intangibles. Following the merger, total assets reached $6.07 billion, loans were $4.52 billion, and deposits were $5.09 billion as of March 31, 2026. Credit quality remained controlled with no provision for credit losses in the quarter and an allowance for credit losses on loans of $57.07 million. Regulatory capital ratios stayed comfortably above required levels, with the company’s Common Equity Tier 1 ratio at 11.38%.
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.