1. Bank First completed acquisition of Centre 1 Bancorp, enhancing its services. 2. New trust and wealth management services will now be offered to customers. 3. The combined entity will have 38 branches and $6 billion in assets. 4. Integration of teams aims to ensure personalized customer service during transition. 5. Steve Eldred from Centre joins Bank First's Board of Directors post-acquisition.
FAQ
Why Bullish?
The acquisition is likely to enhance BFC's market position and customer offerings. Historical examples show banking mergers often lead to increased market capitalization and customer bases.
How important is it?
The acquisition expands services, enhances assets, and strengthens market presence, indicating a potential for future growth.
Why Long Term?
The positive effects of the acquisition on revenue may take time to materialize, similar to past bank mergers that strengthened operational capabilities over several years.
MANITOWOC, Wis., Jan. 2, 2026 /PRNewswire/ -- Bank First Corporation (NASDAQ:BFC) ("Bank First") today announced it has completed its acquisition of Centre 1 Bancorp, Inc. ("Centre"), parent company of The First National Bank and Trust Company ("First National Bank and Trust").
The closing marks an important milestone in bringing together two relationship-driven organizations. Effective immediately, Bank First is expanding its services to include trust and wealth management, integrating a skilled team from First National Bank and Trust. Customers now have access to a comprehensive suite of wealth planning, trust administration, and investment management services, provided by a team of professionals with deep expertise and a strong commitment to delivering personalized solutions.
First National Bank and Trust will continue to operate as a division of Bank First until the planned system conversion in May 2026. At that time, all locations will transition to the unified Bank First brand and digital banking platform. Throughout this process, customers will continue to work with familiar local teams, ensuring personalized service and a smooth transition as we move forward together.
The combined organization will operate 38 branch locations across Wisconsin and the Stateline area of Illinois, with approximately $6 billion in assets, strengthening its ability to serve individuals, businesses, and communities throughout the region.
Mike Molepske, Chairman and Chief Executive Officer of Bank First, stated, "This partnership brings together two long-standing, community-focused institutions committed to responsive, relationship-based banking. Together, we strengthen our ability to serve customers across Wisconsin and the Stateline area of Illinois with greater capabilities and expanded services."
Following the closing, Steve Eldred, Chairman and Chief Executive Officer of Centre, will join the Board of Directors of Bank First and its banking subsidiary, Bank First, N.A.
Piper Sandler & Co. served as financial advisor to Bank First, and Alston & Bird LLP served as legal counsel. Hovde Group, LLC served as financial advisor to Centre, and Barack Ferrazzano Kirschbaum & Nagelberg LLP served as legal counsel.
Contact:
Bank First: Mike Molepske, Chairman & CEO, mmolepske@bankfirst.com, (920) 652-3202
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SOURCE Bank First Corporation