Bank First Corporation (BFC) is a Wisconsin-based bank holding company that operates through its wholly-owned national banking subsidiary, Bank First, N.A. The company earns revenue primarily through net interest income on loans and deposits, supplemented by non-interest fee income from banking services. Bank First competes with commercial banks, thrifts, mortgage banking firms, credit unions, consumer finance companies, non-bank financial technology providers, securities brokerage firms, insurance companies, private credit funds, and money market and other mutual funds within its geographic areas of operation in Wisconsin. The company has grown in part through acquisitions, including the recent Centre acquisition referenced in its FY2025 10-K filed February 27, 2026. Business concentration within specific Wisconsin geographic markets is identified as a material risk factor. Residential and commercial real estate values are central to collateral supporting the loan portfolio.

Revenue model

Net interest income from lending and deposit-taking activities, supplemented by non-interest fee income from banking services.

Products and services

Commercial and residential real estate loans, lending products, deposit accounts, and general banking services offered through Bank First, N.A.

Customers and end markets

Retail and commercial banking customers within Wisconsin geographic markets, including borrowers collateralized by residential and commercial real estate.

Value-chain role

Community bank holding company; direct lender and deposit-taker serving retail and commercial customers through a wholly-owned national bank subsidiary.

Geographic exposure

Wisconsin, with operations concentrated within specific geographic areas of the state as disclosed in the FY2025 10-K filed February 27, 2026.

Competitors

Commercial banks, Thrifts, Mortgage banking firms, Credit unions, Consumer finance companies, Non-bank financial technology providers, Securities brokerage firms, Insurance companies, Private credit funds, Money market and mutual funds

Source: SEC 10-K, filed 2026-02-27

Industry: National Commercial Banks Peers: Amalgamated Financial Corp FIRST BANCSHARES INC /MS/ First Mid Bancshares Inc Hanmi Financial Corp HarborOne Bancorp, Inc. Heritage Commerce Corp Metropolitan Bank Holding Corp PNC Financial Services Group Inc Republic Bancorp Inc Univest Financial Corp