Overview
- TickerBFC on Nasdaq1
- IndustryNational Commercial Banks1
- HeadquartersManitowoc, Wisconsin1
- Incorporated inWI3
- Business address402 North Eighth Street, Manitowoc, Wi 542203
- Filer categoryLarge accelerated filer3
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Bank First Corporation is a Wisconsin corporation that was organized in April 1982 to serve as the holding company for Bank First, N.A., a national banking association founded in 1894. The Bank is a wholly-owned subsidiary of the Company. The Company and the Bank are headquartered in Manitowoc, Wisconsin, and the Bank is a member of the Board of Governors of the Federal Reserve System (the “Federal Reserve”) and regulated by the Office of the Comptroller of the Currency (the “OCC”). The Bank has thirty-eight (38) offices, including its headquarters, in Brown, Columbia, Dane, Door, Fond du Lac, Green, Jefferson, Manitowoc, Monroe, Outagamie, Ozaukee, Rock, Shawano, Sheboygan, Walworth, Waupaca, Waushara, and Winnebago counties in the State of Wisconsin and Winnebago county in the State of Illinois. We serve businesses, professionals and consumers with a wide variety of financial services,…5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.10
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Loans, including fees | $203.7M | $189.0M | $168.8M |
| Taxable | $11.3M | $10.3M | $8.5M |
| Tax-exempt | $943.0K | $964.0K | $1.0M |
| Other | $5.8M | $6.1M | $4.2M |
| Total interest income | $221.7M | $206.4M | $182.5M |
| Deposits | $63.6M | $64.2M | $42.4M |
| Securities sold under repurchase agreements | $22.0K | $1.8M | |
| Borrowed funds | $6.4M | $4.4M | $4.8M |
| Total interest expense | $70.1M | $68.6M | $49.0M |
| Net interest income | $151.7M | $137.8M | $133.5M |
| Provision for credit losses | $1.2M | -$800.0K | $4.7M |
| Net interest income after provision for credit losses | $150.4M | $138.6M | $128.8M |
| Service charges | $8.4M | $8.0M | $7.0M |
| Income from Ansay | $3.9M | $3.5M | $2.9M |
| "Income from UFS, LLC (""UFS"")" | $2.3M | ||
| Loan servicing income | $2.9M | $2.9M | $2.9M |
| Valuation adjustment on MSR | $281.0K | -$299.0K | $395.0K |
| Net gain on sales of mortgage loans | $1.8M | $1.3M | $897.0K |
| Gain on sale of UFS | $38.9M | ||
| Other | $4.8M | $4.2M | $2.8M |
| Total noninterest income | $22.2M | $19.7M | $58.1M |
| Salaries, commissions, and employee benefits | $42.5M | $40.9M | $40.4M |
| Occupancy | $7.8M | $6.0M | $5.7M |
| Data processing | $10.3M | $9.7M | $8.0M |
| Postage, stationery, and supplies | $950.0K | $932.0K | $1.5M |
| Net gain on sales and valuations of OREO | -$159.0K | -$694.0K | $2.1M |
| Net loss on sale of securities | $34.0K | $7.9M | |
| Advertising | $176.0K | $313.0K | $326.0K |
| Charitable contributions | $972.0K | $793.0K | $944.0K |
| Federal deposit insurance | $2.3M | $1.9M | $1.8M |
| Outside service fees | $5.2M | $4.6M | $4.5M |
| Amortization of intangibles | $5.0M | $5.8M | $6.3M |
| Other | $9.4M | $8.6M | $8.6M |
| Total noninterest expense | $84.5M | $78.8M | $88.1M |
| Income before provision for income taxes | $88.2M | $79.5M | $98.8M |
| Provision for income taxes | $16.7M | $13.9M | $24.3M |
| Net Income | $71.5M | $65.6M | $74.5M |
| Earnings per share - basic | $7.23 | $6.50 | $7.28 |
| Earnings per share - diluted | $7.23 | $6.50 | $7.28 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.10
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and due from banks | $55.3M | $59.2M | ||
| Interest-bearing deposits | $187.9M | $202.2M | ||
| Cash and cash equivalents | $243.2M | $261.3M | ||
| Securities held to maturity, at amortized cost ($105,146 and $109,424 fair value at December 31, 2025 and December 31, 2024, respectively) | $103.7M | $110.8M | ||
| Securities available for sale, at fair value ($171,796 and $235,909 amortized cost at December 31, 2025 and December 31, 2024, respectively) | $164.4M | $223.1M | ||
| Loans held for sale | $6.2M | $3.1M | ||
| Loans | $3.6B | $3.5B | ||
| "Allowance for credit losses - loans (""ACL-Loans"")" | -$44.4M | -$44.2M | -$43.6M | |
| Loans, net | $3.6B | $3.5B | ||
| Premises and equipment, net | $79.2M | $71.1M | ||
| Goodwill | $175.1M | $175.1M | ||
| Other investments | $23.6M | $22.6M | ||
| Cash value of life insurance | $61.1M | $61.5M | ||
| Core deposit intangibles, net | $16.2M | $21.2M | ||
| "Mortgage servicing rights (""MSR"")" | $13.7M | $13.4M | $13.7M | |
| "Other real estate owned (""OREO"")" | $741.0K | $2.6M | ||
| "Investment in Ansay and Associates, LLC (""Ansay"")" | $35.4M | $34.1M | ||
| Other assets | $23.9M | $24.0M | ||
| TOTAL ASSETS | $4.5B | $4.5B | ||
| Interest-bearing deposits | $2.7B | $2.6B | ||
| Noninterest-bearing deposits | $1.0B | $1.0B | ||
| Total deposits | $3.7B | $3.7B | ||
| Notes payable | $110.0M | $135.4M | ||
| Subordinated notes | $12.0M | $12.0M | ||
| Other liabilities | $44.5M | $46.9M | ||
| Total liabilities | $3.9B | $3.9B | ||
| Common stock - $0.01 par value; Authorized - 20,000,000 shares; Issued - 11,515,130 shares as of December 31, 2025 and December 31, 2024; Outstanding - 9,834,623 and 10,012,088 shares as of December 31, 2025 and December 31, 2024, respectively | $115.0K | $115.0K | ||
| Additional paid-in capital | $333.8M | $333.8M | ||
| Retained earnings | $417.0M | $398.0M | ||
| Treasury stock, at cost - 1,680,507 and 1,503,042 shares as of December 31, 2025 and December 31, 2024, respectively | -$102.1M | -$82.9M | ||
| Accumulated other comprehensive loss | -$5.0M | -$9.4M | ||
| Total stockholders' equity | $643.8M | $639.7M | $619.8M | $453.1M |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $4.5B | $4.5B | ||
| Securities held to maturity, fair value | $105.1M | $109.4M | ||
| Securities available for sale, amortized cost | $171.8M | $235.9M | ||
| Serial preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Serial preferred stock, shares authorized | 5.0M shares | 5.0M shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized | 20.0M shares | 20.0M shares | ||
| Common stock, shares issued | 11.5M shares | 11.5M shares | ||
| Common stock, shares outstanding | 9.8M shares | 10.0M shares | ||
| Treasury stock, shares | 1.7M shares | 1.5M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and due from banks | $55.3M | $59.2M | ||
| Interest-bearing deposits | $187.9M | $202.2M | ||
| Cash and cash equivalents | $243.2M | $261.3M | ||
| Securities held to maturity, at amortized cost ($105,146 and $109,424 fair value at December 31, 2025 and December 31, 2024, respectively) | $103.7M | $110.8M | ||
| Securities available for sale, at fair value ($171,796 and $235,909 amortized cost at December 31, 2025 and December 31, 2024, respectively) | $164.4M | $223.1M | ||
| Loans held for sale | $6.2M | $3.1M | ||
| Loans | $3.6B | $3.5B | ||
| "Allowance for credit losses - loans (""ACL-Loans"")" | -$44.4M | -$44.2M | -$43.6M | |
| Loans, net | $3.6B | $3.5B | ||
| Premises and equipment, net | $79.2M | $71.1M | ||
| Goodwill | $175.1M | $175.1M | ||
| Other investments | $23.6M | $22.6M | ||
| Cash value of life insurance | $61.1M | $61.5M | ||
| Core deposit intangibles, net | $16.2M | $21.2M | ||
| "Mortgage servicing rights (""MSR"")" | $13.7M | $13.4M | $13.7M | |
| "Other real estate owned (""OREO"")" | $741.0K | $2.6M | ||
| "Investment in Ansay and Associates, LLC (""Ansay"")" | $35.4M | $34.1M | ||
| Other assets | $23.9M | $24.0M | ||
| TOTAL ASSETS | $4.5B | $4.5B | ||
| Interest-bearing deposits | $2.7B | $2.6B | ||
| Noninterest-bearing deposits | $1.0B | $1.0B | ||
| Total deposits | $3.7B | $3.7B | ||
| Notes payable | $110.0M | $135.4M | ||
| Subordinated notes | $12.0M | $12.0M | ||
| Other liabilities | $44.5M | $46.9M | ||
| Total liabilities | $3.9B | $3.9B | ||
| Common stock - $0.01 par value; Authorized - 20,000,000 shares; Issued - 11,515,130 shares as of December 31, 2025 and December 31, 2024; Outstanding - 9,834,623 and 10,012,088 shares as of December 31, 2025 and December 31, 2024, respectively | $115.0K | $115.0K | ||
| Additional paid-in capital | $333.8M | $333.8M | ||
| Retained earnings | $417.0M | $398.0M | ||
| Treasury stock, at cost - 1,680,507 and 1,503,042 shares as of December 31, 2025 and December 31, 2024, respectively | -$102.1M | -$82.9M | ||
| Accumulated other comprehensive loss | -$5.0M | -$9.4M | ||
| Total stockholders' equity | $643.8M | $639.7M | $619.8M | $453.1M |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $4.5B | $4.5B | ||
| Securities held to maturity, fair value | $105.1M | $109.4M | ||
| Securities available for sale, amortized cost | $171.8M | $235.9M | ||
| Serial preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Serial preferred stock, shares authorized | 5.0M shares | 5.0M shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized | 20.0M shares | 20.0M shares | ||
| Common stock, shares issued | 11.5M shares | 11.5M shares | ||
| Common stock, shares outstanding | 9.8M shares | 10.0M shares | ||
| Treasury stock, shares | 1.7M shares | 1.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.10
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $71.5M | $65.6M | $74.5M |
| Provision for credit losses | $1.2M | -$800.0K | $4.7M |
| Depreciation and amortization of premises and equipment | $2.4M | $2.3M | $2.1M |
| Amortization of intangibles | $5.0M | $5.8M | $6.3M |
| Net accretion of securities | -$3.4M | -$3.4M | -$2.4M |
| Amortization of stock-based compensation | $2.1M | $2.2M | $2.1M |
| Accretion of purchase accounting valuations | -$2.9M | -$4.6M | -$6.9M |
| Net change in deferred loan fees and costs | -$772.0K | -$488.0K | -$1.4M |
| Expense (benefit) from deferred income taxes | $180.0K | $1.8M | -$1.7M |
| Change in fair value of MSR and other investments | -$1.3M | $296.0K | -$693.0K |
| Loss from sale and disposal of premises and equipment | $916.0K | $375.0K | $363.0K |
| Net (gain) loss on sale of OREO and valuation allowance | -$159.0K | -$694.0K | $2.1M |
| Proceeds from sales of mortgage loans | $169.3M | $118.2M | $74.7M |
| Originations of mortgage loans held for sale | -$170.7M | -$117.0M | -$76.2M |
| Gain on sales of mortgage loans | -$1.8M | -$1.3M | -$897.0K |
| Realized loss on sale of securities | $34.0K | $7.9M | |
| Realized gain on sale of UFS | -$38.9M | ||
| Net earnings on life insurance | -$1.6M | -$1.7M | -$1.5M |
| Increase in other assets | -$1.2M | -$3.0M | -$2.0M |
| (Decrease) increase in other liabilities | -$2.5M | $5.8M | $15.9M |
| Net cash provided by operating activities | $62.5M | $65.8M | $52.9M |
| Activity in securities available for sale and held to maturity: Sales | $10.2M | $76.0M | |
| Activity in securities available for sale and held to maturity: Maturities, prepayments, and calls | $287.3M | $206.4M | $126.7M |
| Activity in securities available for sale and held to maturity: Purchases | -$212.7M | -$302.2M | -$26.6M |
| Proceeds from other investments | $248.0K | ||
| Net increase in loans | -$84.7M | -$168.9M | -$37.4M |
| Proceeds from sale of UFS | $51.7M | ||
| Dividends received from UFS | $1.7M | ||
| Dividends received from Ansay | $2.6M | $2.3M | $1.9M |
| Proceeds from sale of OREO | $900.0K | $3.9M | $1.8M |
| "Net (purchase) sales of Federal Home Loan Bank (""FHLB"") stock" | $79.0K | -$1.3M | $262.0K |
| "Net purchases of Federal Reserve Bank (""FRB"") stock" | -$3.9M | ||
| Proceeds from life insurance | $2.0M | $1.4M | |
| Proceeds from sale of premises and equipment | $1.0K | $2.4M | |
| Purchases of premises and equipment | -$11.4M | -$7.2M | -$13.5M |
| Net cash received in business combination | $90.0M | ||
| Net cash (used in) provided by investing activities | -$16.0M | -$252.9M | $269.0M |
| Net increase (decrease) in deposits | $34.7M | $228.1M | -$159.4M |
| Net decrease in securities sold under repurchase agreements | -$75.7M | -$21.4M | |
| Proceeds from advances of notes payable | $220.0M | $140.0M | $121.7M |
| Repayment of notes payable | -$245.5M | -$40.0M | -$93.1M |
| Repayment of subordinated notes | -$11.5M | ||
| Repayment of junior subordinated debentures | -$4.1M | -$8.2M | |
| Dividends paid | -$52.5M | -$15.6M | -$12.0M |
| Proceeds from sales of common stock | $737.0K | $245.0K | $195.0K |
| Repurchase of common stock | -$22.0M | -$31.9M | -$10.0M |
| Net cash (used in) provided by financing activities | -$64.6M | $201.0M | -$193.8M |
| Net (decrease) increase in cash and cash equivalents | -$18.1M | $13.9M | $128.1M |
| Interest | $71.0M | $66.0M | $44.1M |
| Income taxes | $15.9M | $14.1M | $23.8M |
| Loans transferred to OREO | $412.0K | ||
| Closed branch building transferred to OREO | $1.7M | $2.6M | |
| MSR resulting from sale of loans | $2.0M | $1.3M | $879.0K |
| Amortization of unrealized holding gains on securities transferred from available for sale to held to maturity recognized in other comprehensive income, net of tax | -$1.0K | ||
| Change in unrealized loss on investment securities available for sale, net of tax | $4.3M | -$639.0K | -$1.1M |
| Common stock issued in acquisition | $115.1M |
No quarter-by-quarter statement was filed.
Corporate structure
Bank First Corporation sits at the top of its group. 5 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Bank First Corporation
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Bank First Corporation, latest Mar 26, 2026 (4 filings since Nov 4, 2024)
- BlackRock Filed SC 13G/A on Bank First Corporation, latest Jan 26, 2024 (4 filings since Feb 3, 2022)
- Bank First Corporation Manitowoc, Wisconsin
- 100% Bank First Investments, Inc. Subsidiary · Wisconsin, United States
- 100% BFC Title, LLC Subsidiary · Wisconsin, United States
- 100% TVG Holdings, Inc. Subsidiary · Wisconsin, United States
- 40% Ansay & Associates, LLC Subsidiary · Wisconsin, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Bank First Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $94.2M10 Dec 31, 2025 | $84.1M10 Dec 31, 2024 | +12.0% |
| Accumulated depreciation | $16.6M10 Dec 31, 2025 | $14.6M10 Dec 31, 2024 | +13.8% |
| Property and equipment, net | $79.2M10 Dec 31, 2025 | $71.1M10 Dec 31, 2024 | +11.4% |
| Operating-lease assets (leased space) | $1.6M10 Dec 31, 2025 | $1.6M10 Dec 31, 2024 | +0.1% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $243.2M10 Dec 31, 2025 | $261.3M10 Dec 31, 2024 | −6.9% |
| Loans, net of allowance | $3.6B10 Dec 31, 2025 | $3.5B10 Dec 31, 2024 | +2.5% |
| Deposits held (banks) | $3.7B10 Dec 31, 2025 | $3.7B10 Dec 31, 2024 | +0.9% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $175.1M10 Dec 31, 2025 | $175.1M10 Dec 31, 2024 | 0% |
| Finite-lived intangibles, net | $16.2M10 Dec 31, 2025 | $21.2M10 Dec 31, 2024 | −23.6% |
Properties, in its own words
Our main office is located at 402 North 8th Street, Manitowoc, Wisconsin 54220. Including its main office, the Bank operates thirty-eight (38) branches located in nineteen (19) counties in Wisconsin and Illinois, which includes the branches that were acquired in connection with the Company’s acquisition of Centre on January 1, 2026. The addresses of these offices are provided below. We believe these premises will be adequate for present and anticipated needs and that we have adequate insurance to cover our owned and leased premises. For each property that we lease, we believe that upon expiration of the lease we will be able to extend the lease on satisfactory terms or relocate to another acceptable location:
Office · Address · City, State, Zip · Lease/Own
The rest of Item 2
Main Office · 402 N. 8th Street · Manitowoc, Wisconsin, 54220 · Own
Appleton · 4201 W. Wisconsin Avenue · Appleton, Wisconsin, 54913 · Lease
Bellevue · 2747 Manitowoc Road · Green Bay, Wisconsin, 54311 · Own
Beloit · 345 E. Grand Avenue · Beloit, Wisconsin, 53511 · Own
Beloit · 1882 E. Inman Parkway · Beloit, Wisconsin, 53511 · Own
Cambridge · 221 W. Main Street · Cambridge, Wisconsin, 53523 · Own
Cedarburg · W61 N529 Washington Avenue · Cedarburg, Wisconsin, 53012 · Own
Clinton · 500 Peck Avenue · Clinton, Wisconsin, 53525 · Own
Clintonville · 135 S. Main Street · Clintonville, Wisconsin, 54929 · Own
Darien · 218 N. Walworth Street · Darien, Wisconsin, 53114 · Own
Delavan · 1221 S. Shore Drive · Delavan, Wisconsin, 53115 · Own
Denmark · 103 E. Main Street · Denmark, Wisconsin, 54208 · Own
Fond du Lac · 825 W. Johnson Street · Fond du Lac, Wisconsin, 54935 · Own
Howard · 1951 Shawano Avenue · Howard, Wisconsin, 54303 · Own
Iola · 295 E. State Street · Iola, Wisconsin, 54945 · Own
Janesville · 2111 Holiday Drive · Janesville, Wisconsin, 53545 · Own
Kiel · 110 Fremont Street · Kiel, Wisconsin, 53042 · Own
Manitowoc · 2915 Custer Street · Manitowoc, Wisconsin, 54220 · Own
Mishicot · 110 Baugniet Street · Mishicot, Wisconsin, 54228 · Own
Monroe · 1625 10th Street · Monroe, Wisconsin, 53566 · Own
Oshkosh · 1159 N. Koeller Street · Oshkosh, Wisconsin, 54902 · Own
Pardeeville · 512 S. Main Street · Pardeeville, Wisconsin, 53954 · Own
Plymouth · 2700 Eastern Avenue · Plymouth, Wisconsin, 53073 · Own
Poynette · 105 S. Main Street · Poynette, Wisconsin, 53955 · Own
Reedsville · 100 Mill Street · Reedsville, Wisconsin, 54230 · Own
Rockton · 300 E. Main Street · Rockton, Illinois, 61072 · Own
Roscoe · 5360 Bridge Street · Roscoe, Illinois, 61073 · Own
Shawano · 835 E. Green Bay Street · Shawano, Wisconsin, 54166 · Own
Sheboygan · 2600 Kohler Memorial Drive · Sheboygan, Wisconsin, 53081 · Own
Sturgeon Bay · 3854 Old Highway Road · Sturgeon Bay, Wisconsin, 54235 · Own
Tomah · 110 W. Veterans Street · Tomah, Wisconsin, 54660 · Own
Two Rivers · 1703 Lake Street · Two Rivers, Wisconsin, 54241 · Own
Valders · 167 Lincoln Street · Valders, Wisconsin, 54245 · Own
Walworth · 105 State Road 67 · Walworth, Wisconsin, 53184 · Own
Watertown · 104 W. Main Street · Watertown, Wisconsin, 53094 · Own
Waupaca · 111 Jefferson Street · Waupaca, Wisconsin, 54981 · Own
Wautoma · 105 N. Plaza Road · Wautoma, Wisconsin, 54982 · Own
Winnebago · 500 N. Elida Street · Winnebago, Illinois, 61088 · Own
Item 2 of the 10-K filed Feb 27, 2026.5
Leadership
Who has led Bank First Corporation, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerMichael B. Molepske Oct 23, 2018 to now15
- ChairMichael B. Molepske Feb 21, 2023 to now16
- PresidentTimothy J. McFarlane Feb 21, 2023 to now17
- PresidentMichael B. Molepske Oct 23, 2018 to Mar 8, 202215
- PresidentMichael P. Dempsey Oct 23, 2018 to Oct 23, 201818
- Chief financial officerKevin M. Lemahieu Oct 23, 2018 to now19
- Chief operating officerJoan A. Woldt Mar 7, 2023 to Mar 7, 202320
Board members and other officers (25)
- Chief Credit OfficerMeghann O. Kasper Jun 17, 2026 to now21
- Named Executive OfficerJason Krepline V. Jun 15, 2022 to now22
- Named Executive OfficerJoan A. Woldt Jun 15, 2022 to Jun 15, 202223
- Executive OfficerMichael P. Dempsey Mar 4, 2019 to Mar 8, 202224
- Board memberSteven M. Eldred Jan 30, 2026 to now25
- Board memberSriraj Kantamneni Aug 6, 2026 to now26
- Board memberWilliam J. Ring Aug 6, 2026 to now27
- Board memberTodd A. Sprang Nov 12, 2025 to now28
- Board memberMichael S. Stayer-Suprick Aug 2, 2024 to now29
- Board memberDaniel C. McConeghy Oct 15, 2024 to now30
- Board memberTimothy J. McFarlane Feb 21, 2023 to now17
- Board memberLaura E. Kohler Jun 15, 2022 to Mar 4, 202531
- Board memberPhillip R. Maples Jun 16, 2021 to now32
- Board memberJudy L. Heun Jul 17, 2019 to Mar 4, 202533
- Board memberMary Kay Bourbulas Aug 8, 2019 to now34
- Board memberDavid R. Sachse Oct 23, 2018 to Apr 25, 202435
- Board memberDonald R. Brisch Oct 23, 2018 to Mar 8, 202236
- Board memberKevin M. Lemahieu Oct 23, 2018 to Mar 4, 202037
- Board memberMichael B. Molepske Oct 23, 2018 to Mar 8, 202215
- Board memberMichael G. Ansay Oct 23, 2018 to Mar 7, 202338
- Board memberMichael P. Dempsey Oct 23, 2018 to Mar 8, 202218
- Board memberRobert D. Gregorski Oct 23, 2018 to now39
- Board memberRobert J. Wagner Oct 23, 2018 to Mar 4, 201940
- Board memberSistine Peter J. Van Oct 23, 2018 to now41
- General counselKelly M. Dvorak Mar 13, 2024 to now42
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- 100% BFC Title, LLC Wisconsin4
- 100% Bank First Investments, Inc. Wisconsin4
- 100% TVG Holdings, Inc. Wisconsin4
- 40% Ansay & Associates, LLC Wisconsin4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- Bank First National CorpAug 15, 2018 to Jun 27, 20193
Timeline
- Jul 22, 20268-K Results of operations43
- Jul 21, 20268-K Results of operations44
- Jun 23, 20268-K Executive or director change45
- Jun 18, 20268-K Executive or director change; Shareholder vote; Regulation FD disclosure46
- May 19, 20268-K Entered a material agreement; Other events47
- Apr 22, 20268-K Regulation FD disclosure48
- Apr 16, 20268-K Results of operations49
- Mar 16, 20268-K Financial statements and exhibits50
- Jan 22, 20268-K Results of operations51
- Jan 20, 20268-K Executive or director change52
- Jan 2, 20268-K Completed an acquisition or sale; Other events53
- Oct 21, 20258-K Results of operations54
- Oct 23, 2018New chief executive Michael B. Molepske becomes CEO15
- 1894Went public Listed on NASDAQ1
Calendar
When it reported results
- Jul 22, 2026Reported quarterly or annual results43
- Jul 21, 2026Reported quarterly or annual results44
- Apr 16, 2026Reported quarterly or annual results49
- Jan 22, 2026Reported quarterly or annual results51
- Oct 21, 2025Reported quarterly or annual results54
- Jul 18, 2025Reported quarterly or annual results55
- Apr 15, 2025Reported quarterly or annual results56
- Jan 21, 2025Reported quarterly or annual results57
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
257 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 67 major events, 110 insider forms, 8 large holders, 52 other. The latest 20:
- Sep 11, 20264 OWNERSHIP DOCUMENT EDGAR
- Aug 24, 20264 OWNERSHIP DOCUMENT EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 6, 20263 OWNERSHIP DOCUMENT EDGAR
- Aug 6, 20263 OWNERSHIP DOCUMENT EDGAR
- Aug 6, 20263 OWNERSHIP DOCUMENT EDGAR
- Aug 3, 2026EFFECT EDGAR
- Aug 3, 2026424B3 EDGAR
- Jul 30, 2026S-4/A EDGAR
- Jul 22, 20268-K/A EDGAR
- Jul 21, 20268-K EDGAR
- Jul 17, 2026S-4 EDGAR
- Jul 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 26, 202611-K EDGAR
- Jun 23, 20268-K EDGAR
- Jun 18, 20268-K EDGAR
- Jun 17, 20263 OWNERSHIP DOCUMENT EDGAR
- May 19, 2026425 EDGAR
- May 19, 20268-K EDGAR
- May 11, 202610-Q EDGAR
The 257 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
17 open-market trades by officers, directors and large owners since October 2021: 11 buys and 6 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 11, 2026 | Van Sistine Peter J.Director | Sale | 1,848 | $155.57 | $287.5K | Form 4 |
| Aug 17, 2026 | Pearson Tracy CDirector | Buy | 1,024 | $156.97 | $160.7K | Form 4 |
| Apr 22, 2026 | Sprang Todd A.Director | Buy | 450 | $138.96 | $62.5K | Form 4 |
| Apr 21, 2026 | Stayer-Suprick Michael SDirector | Buy | 225 | $140.04 | $31.5K | Form 4 |
| Feb 11, 2026 | Eldred Steven MDirector | Sale | 8,000 | $151.95 | $1.2M | Form 4 |
| Feb 6, 2026 | Eldred Steven MDirector | Sale | 8,000 | $145.02 | $1.2M | Form 4 |
| Jan 27, 2026 | Sprang Todd A.Director | Buy | 150 | $141.06 | $21.2K | Form 4 |
| Aug 19, 2025 | Stayer-Suprick Michael SDirector | Buy | 410 | $122.67 | $50.3K | Form 4 |
| Mar 4, 2025 | MCCONEGHY DANIEL CDirector | Buy | 380 | $105.72 | $40.2K | Form 4 |
| Feb 19, 2025 | Stayer-Suprick Michael SDirector | Buy | 1,000 | $102.07 | $102.1K | Form 4 |
| Dec 3, 2024 | Johnson Stephen EDirector | Sale | 2,400 | $106.28 | $255.1K | Form 4 |
| Mar 15, 2024 | Bourbulas Mary KayDirector | Buy | 600 | $82.88 | $49.7K | Form 4 |
| Feb 6, 2024 | Maples Phillip RDirector | Buy | 650 | $81.72 | $53.1K | Form 4 |
| Oct 26, 2023 | LeMahieu Kevin M.Chief Financial Officer | Buy | 582 | $70.00 | $40.7K | Form 4 |
| Feb 16, 2023 | Molepske Michael B.Chairman and CEO | Sale | 10,000 | $80.25 | $802.5K | Form 4 |
| Feb 16, 2023 | Molepske Michael B.Chairman and CEO | Sale | 10,000 | $80.25 | $802.5K | Form 4 |
| May 19, 2022 | Maples Phillip RDirector | Buy | 700 | $70.00 | $49.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Nov 4, 2024 to Mar 26, 202658
- BlackRockSC 13G/A, 4 filings Feb 3, 2022 to Jan 26, 202459
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Michael B. MolepskeChief Executive Officer (Director) | $805.8K | $1.8M60 | |
| 2025 | Timothy J. McFarlanePresident (Director) | $503.3K | $1.1M60 | |
| 2025 | Kevin M. LeMahieuChief Financial Officer | $521.8K | $1.1M60 | |
| 2025 | Jason V. KreplineChief Lending Officer | $310.8K | $640.3K60 | |
| 2025 | Kelly M. DvorakChief Legal Counsel | $308.8K | $545.3K60 | |
| 2024 | Michael B. MolepskeChief Executive Officer (Director) | $783.0K | $1.7M60 | |
| 2024 | Timothy J. McFarlanePresident (Director) | $489.0K | $1.0M60 | |
| 2024 | Kevin M. LeMahieuChief Financial Officer | $507.0K | $976.7K60 | |
| 2024 | Jason V. KreplineChief Lending Officer | $302.0K | $589.2K60 | |
| 2024 | Kelly M. DvorakChief Legal Counsel | $300.0K | $445.1K60 | |
| 2023 | Michael B. MolepskeChief Executive Officer (Director) | $662.3K | $1.4M60 | |
| 2023 | Kevin M. LeMahieuChief Financial Officer | $381.2K | $691.3K60 | |
| 2023 | Jason V. KreplineChief Lending Officer | $296.4K | $581.9K60 | |
| 2023 | Timothy J. McFarlanePresident (Director) | $393.2K | $409.8K60 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Bank First Corporation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARBank First Corp2
- CIK0001746109
- Employer ID (EIN)39-14353595
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inWisconsin5
- Fiscal year endsDecember 312
- Industry code (SIC)6021 National Commercial Banks2
- SEC reviewing officeOffice of Finance, Division of Corporation Finance2
- Business address402 North Eighth Street, Manitowoc, WI 542202
- Phone920-652-31002
- Shares outstanding11,085,607 as of Aug 7, 202612
- Public float$1.1B as of Jun 30, 20255
- AuditorForvis Mazars, LLP, Atlanta, Georgia PCAOB ID 686; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceAug 15, 20182
- Filings455 in all: 4 (163), 8-K (111), 3 (28), 10-Q (24), 425 (11), DEFA14A (9), 10-K (8), 11-K (8)2
All 32 form types
CORRESP (8), DEF 14A (8), 4/A (7), S-4/A (7), UPLOAD (7), 424B3 (6), EFFECT (6), S-4 (6), SC 13G (5), SC 13G/A (5), ARS (4), 144 (3), 3/A (3), 8-K/A (3), S-8 (3), 5 (2), PRE 14A (2), SCHEDULE 13G/A (2), 10-12B (1), 10-12B/A (1), CERT (1), DRS (1), S-3D (1), SEC STAFF ACTION (1)
- Latest filingsAnnual report (10-K) Feb 27, 2026
Quarterly report (10-Q) Aug 7, 2026
Proxy statement (DEF 14A) Apr 24, 2026
Latest 8-K (8-K) Jul 21, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.01 par value | BFC | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks Bank First Corporation names in Item 1A of its 10-K filed Feb 27, 2026: 42 risks under these headings, as written.5
- In addition, certain statements in the following risk factors constitute forward-looking statements. Please refer to the section entitled “Cautionary Note Regarding Forward-Looking Statements” beginning on page 1 of this Annual Report on Form 10- K.
- Risks related to our business
- Difficult or volatile conditions in the national financial markets, and the U.S. economy generally, may adversely affect our lending activity or other businesses, as well as our financial condition.
- Changes in interest rates may have an adverse effect on our net interest income.
- Changes in interest rates may change the value of our mortgage servicing rights portfolio, which may increase the volatility of our earnings.
- Inflation could negatively impact our business, our profitability and our stock price.
- Changes in the cost and availability of funding due to changes in the deposit market and credit market may adversely affect our capital resources, liquidity, and financial results.
- If the Bank loses or is unable to grow and retain its deposits, it may be subject to liquidity risk and higher funding costs.
- Our provision and allowance for credit losses may not be adequate to cover actual credit losses.
- If we do not effectively manage our asset quality and credit risk, we could experience credit losses.
- We face strong competition from financial services companies and other companies that offer banking services.
- Because a significant portion of our loan portfolio is comprised of real estate loans, negative changes in the economy affecting real estate values and liquidity could impair the value of collateral securing our real estate loans and result in loan and other losses.
The other 31 risks
- Our future success is largely dependent upon our ability to successfully execute our business strategy.
- We depend on our executive officers and other key individuals to continue the implementation of our long-term business strategy and could be harmed by the loss of their services and our inability to make up for such loss with qualified replacements.
- The success of our operating model depends on our ability to attract and retain talented bankers and associates in each of our markets.
- Acquisitions may disrupt our business and dilute stockholder value, and integrating acquired companies may be more difficult, costly, or time-consuming than we expect.
- The implementation of new lines of business or new products and services may subject us to additional risk.
- The fair value of our investment securities may decline.
- The financial services industry is undergoing rapid technological changes, and we may not have the resources to implement new technology to stay current with these changes.
- We may not be able to successfully implement current or future information technology system enhancements and operational initiatives, which could adversely affect our business operations and profitability.
- We rely extensively on information technology systems to operate our business and an interruption or security incident may disrupt our business operations, result in reputational harm, and have an adverse effect on our operations.
- The development and use of artificial intelligence (AI) presents risks and challenges that may adversely impact our business.
- System failure or compromises of our network security, or the security of our third-party data processing partner, including as a result of cyberattacks, could subject us to increased operating costs as well as litigation and other liabilities.
- We are subject to certain operational risks, including, but not limited to, client or employee fraud and data processing system failures and errors.
- Fraud is an increasing risk for us and for all banks, and as such, we may experience increased losses due to fraud.
- If our enterprise risk management framework is not effective at mitigating risk and loss to us, we could suffer unexpected losses and our results of operations could be materially adversely affected.
- Our ability to maintain our reputation is critical to the success of our business, and the failure to do so may materially adversely affect our performance.
- We rely on other companies to provide key components of our business infrastructure.
- We may need to raise additional capital in the future.
- The costs and effects of litigation, investigations or similar matters involving us or other financial institutions or counterparties, or related adverse facts and developments, could materially affect our business, operating results and financial condition.
- Changes in accounting standards could materially impact our financial statements.
- Risks related to the business environment and our industry
- The Company is subject to extensive government regulation and supervision, which may interfere with our ability to conduct our business and may negatively impact our financial results.
- Federal regulatory agencies, including the Federal Reserve and the OCC, periodically conduct examinations of our business, including for compliance with laws and regulations, and our failure to comply with any supervisory actions to which we are or become subject as a result of such examinations may adversely affect our business.
- We are subject to lending concentration risk, which could cause our regulators to restrict our ability to grow.
- The Federal Reserve may require us to commit capital resources to support the Bank.
- The Company may be subject to more stringent capital requirements.
- Monetary policies and regulations of the Federal Reserve could adversely affect our business, financial condition and results of operations.
- Our deposit insurance premiums could be substantially higher in the future, which could have a material adverse effect on our future earnings.
- We are subject to federal and state fair lending laws, and failure to comply with these laws could lead to material penalties.
- We could face the risk of noncompliance and enforcement action with the Bank Secrecy Act and other anti-money laundering statutes and regulations.
- Tax law changes and interpretations may have a negative impact on our earnings.
- Risks related to our common stock
- Applicable laws and regulations restrict both the ability of the Bank to pay dividends to the Company and the ability of the Company to pay dividends to our shareholders.
- Our securities are not FDIC insured.
Legal proceedings
The Company and its subsidiaries are parties to various claims and lawsuits arising in the course of their normal business activities. Although the ultimate outcome of these suits cannot be ascertained at this time, it is the opinion of management that none of these matters, even if resolved adversely to the Company, will have a material adverse effect on the Company’s consolidated financial position.
The opening of Item 3, Legal Proceedings.5
Links
- WikidataQ111384715
- SEC EDGARCIK 1746109
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
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- 12
- 13
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- 16SEC EDGARMichael B. Molepske, Chair
- 17SEC EDGARTimothy J. McFarlane, President
- 18SEC EDGARMichael P. Dempsey, President
- 19
- 20
- 21
- 22
- 23
- 24
- 25SEC EDGARSteven M. Eldred, Board member
- 26SEC EDGARSriraj Kantamneni, Board member
- 27SEC EDGARWilliam J. Ring, Board member
- 28SEC EDGARTodd A. Sprang, Board member
- 29
- 30SEC EDGARDaniel C. McConeghy, Board member
- 31SEC EDGARLaura E. Kohler, Board member
- 32SEC EDGARPhillip R. Maples, Board member
- 33SEC EDGARJudy L. Heun, Board member
- 34SEC EDGARMary Kay Bourbulas, Board member
- 35SEC EDGARDavid R. Sachse, Board member
- 36SEC EDGARDonald R. Brisch, Board member
- 37SEC EDGARKevin M. Lemahieu, Board member
- 38SEC EDGARMichael G. Ansay, Board member
- 39SEC EDGARRobert D. Gregorski, Board member
- 40SEC EDGARRobert J. Wagner, Board member
- 41SEC EDGARSistine Peter J. Van, Board member
- 42SEC EDGARKelly M. Dvorak, General counsel
- 43SEC EDGARResults of operations
- 44SEC EDGARResults of operations
- 45SEC EDGARExecutive or director change
- 46
- 47
- 48SEC EDGARRegulation FD disclosure
- 49SEC EDGARResults of operations
- 50SEC EDGARFinancial statements and exhibits
- 51SEC EDGARResults of operations
- 52SEC EDGARExecutive or director change
- 53
- 54SEC EDGARResults of operations
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