Bank First Corporation Announces Merger Approval
Bank First Corporation (Nasdaq: BFC) recently celebrated a significant achievement as it secured the necessary regulatory approvals to finalize its merger with Centre 1 Bancorp, Inc. This merger marks a pivotal step in enhancing the services offered by Bank First, allowing for more robust community banking solutions.
Transition to New Ownership
The merger with Centre 1 Bancorp, which also operates The First National Bank and Trust, positions Bank First to integrate broader capabilities and resources. "With this regulatory approval, we can now efficiently transition towards operating as one unified entity that prioritizes growth and community engagement," stated Mike Molepske, the Chairman and CEO of Bank First. This transformation highlights a shared vision dedicated to relationship-based banking.
Integration Timeline
Upon closing the transaction, First National Bank and Trust will operate as a division of Bank First until the anticipated system conversion, expected for the second quarter of the following year. After this transition, all branches associated with First National Bank and Trust will fully adopt the Bank First branding, seamlessly integrating both organizations to enhance customer experience.
About Bank First Corporation
Bank First Corporation is the holding company for Bank First, N.A., a financial institution deeply rooted in community values and engagement. Headquartered in Manitowoc, Wisconsin, Bank First boasts total assets of approximately $4.4 billion. It provides a diverse array of financial services, including lending options ranging from commercial to consumer products, along with various savings and deposit services. Established in 1894, the organization is recognized for its commitment to the communities it serves.
Overview of Centre 1 Bancorp, Inc.
Centre 1 Bancorp, Inc. operates The First National Bank and Trust Company, a family-owned entity committed to delivering top-notch financial services. Founded in 1882 and based in Beloit, Wisconsin, it serves customers throughout southern Wisconsin and northern Illinois. The bank has built its reputation on providing sound financial advice and exceptional customer service, positioning itself as a leader in the Stateline region.
Contact Information
For further inquiries regarding the merger and new services, you may contact:
Bank First: Mike Molepske, Chairman & CEO, at mmolepske@bankfirst.com or (920) 652-3202.
Centre 1 Bancorp: Don O'Day, President, at don.oday@bankatfirstnational.com or (608) 363-8007.
Frequently Asked Questions
What is the significance of the merger between Bank First and Centre 1 Bancorp?
The merger allows Bank First to enhance its service offerings and expand its reach within the community, providing better financial solutions to customers.
When is the expected completion date of the merger?
The transaction is expected to close on January 1 of the following year, contingent upon customary closing conditions and shareholder approval.
How will the merger impact customers of First National Bank and Trust?
Customers will benefit from expanded resources and a wider array of banking services, once the full integration is complete.
What services does Bank First Corporation provide?
Bank First offers various services, including commercial and consumer lending, as well as different deposit and savings accounts.
Who can I contact for more information about the merger?
You can reach out to either Mike Molepske at Bank First or Don O'Day at Centre 1 Bancorp for detailed information regarding the merger.
