It is our mission to continually reinvest in the organization our founders created in 1894 and uphold their legacy of developing meaningful relationships with those in the community while delivering superior financial solutions.
Bank First is founded in downtown Manitowoc with a capitalization of $50,000.
Originally located on the southwest corner of York and North 8th Streets in downtown Manitowoc, the bank outgrew its location and moved to the first floor of the Hotel Manitowoc building at the northwest corner of North 8th and York Streets (known today as Dali’s Café) in 1927. The elaborate bank entrance is still visible from Eighth Street to this day.
The next 45 years of Bank First’s history saw physical as well as monetary growth. In 1971, Bank First acquired the assets of the Francis Creek bank. To support its growth, the bank selected a new site in the 400 block of North 8th Street in Manitowoc and completed construction on the 22,000 square-foot building in September 1974.
Thomas J. Bare is appointed President and Chief Executive Officer. During his tenure, Bare grew the institution tenfold from $75 million in assets to over $750 million in assets. From 1983 to 2008, the Bank grew from two to 15 banking locations through acquisitions and organic growth.
Bank First merges with the St. Nazianz State Bank.
Bank First opens a branch in Two Rivers.
Bank First opens a branch in Mishicot.
Bank First opens a branch on Custer Street in Manitowoc to better serve customers and to provide additional space for bank employees at the home office.
Bank First in Manitowoc, Baylake Bank, and the State Bank of Kewaunee started a data processing company, United Financial Services. UFS, LLC has advanced since its establishment and currently provides digital, core, cybersecurity, managed IT and cloud services to banks across the United States.
Bank First acquires Valley Bank in Newton and Kiel.
Bank First opens a branch in Bellevue.
Bank First opens a branch in New Holstein.
Bank First acquires the Dairy State Bank in Plymouth, adding two branches to its footprint.
Bank First opens a branch in Ashwaubenon.
Bank First expanded its services by purchasing the Insurance Center of Manitowoc. The agency offers commercial, personal, life, and health insurance and is located on Expo Drive in Manitowoc. In addition to the Manitowoc office, the Insurance Center has the Gary Vincent and Associates agency on Adams Street in downtown Green Bay.
Bank First opens a branch on Expo Drive in Manitowoc. The branch adjoined the Bank’s subsidiary, Insurance Center of Manitowoc.
Insurance Center of Manitowoc and the Gary Vincent & Associates agency combine forces and change its name to the Vincent Group, Insurance and Financial Solutions.
Bank First acquires the Acuity Bank branch.
Bank First's insurance subsidiary, The Vincent Group, Inc. acquires Insurance Associates, a full service agency offering personal and commercial insurance as well as group benefits.
Bank First opens a branch in Sheboygan.
Thomas Bare retires from his role as President and remains with the company in a consulting role until June 2009.
The Board of Directors appoints Michael Molepske as his successor.
Bank First merges its Newton and New Holstein offices into its Custer and Kiel offices, respectively and merges its two Plymouth branches into one.
Bank First completes the merger of its insurance subsidiary, the Vincent Group with A.N. Ansay & Associates to form Ansay & Associates. Ansay & Associates is owned jointly by Bank First and Ansay, with Ansay retaining majority ownership.
Bank First opens a location in downtown Oshkosh, celebrating its commitment to the Fox Valley market.
Bank First opens a location in Valders and merges its St. Nazianz office into it.
The bank’s Two Rivers office moves from 1509 Washington Street to 1703 Lake Street. The new office provides customers a more aesthetically pleasing experience while increasing efficiency of doing business with an open concept layout.
Michael Dempsey, who joined the bank in 2010, is promoted to President at Bank First, while Michael Molepske continues to serve as Chief Executive Officer. During Dempsey’s tenure, the bank expanded into new markets, including Appleton, Oshkosh, Tomah, Ozaukee County, and Waupaca County, as well as more than tripled its asset size from $832 million in 2010 to $2.9 billion in 2022.
Bank First opens a new location in Appleton just north of the Fox River Mall. The new office emulates the contemporary design and efficient use of space like other recently constructed Bank First offices.
Bank First merges with Waupaca Bancorporation, increasing its asset size by approximately $500 million while adding six offices to its footprint: Waupaca, Weyauwega, Iola, Clintonville, Seymour, and Chetek.
Bank First constructs a new office facility in Plymouth and moves from 2323 Eastern Avenue to 2700 Eastern Avenue.
Bank First merges with Partnership Community Bancshares, Inc., expanding its branch network into Cedarburg, Mequon, Watertown, and Tomah.
Bank First announces the completion of its new office located at 1159 N. Koeller Street in Oshkosh. The bank moves from its existing Oshkosh office at 101 City Center into the newly constructed facility.
Bank First announces the completion of its new Iola office located at 295 E. State Street and moves from its existing office into the newly constructed facility.
Bank First merges with Tomah Bancshares, Inc. expanding its presence in Monroe County and solidifying Bank First's position as the third largest publicly traded bank headquartered in Wisconsin. The two Tomah branches were consolidated into one newly renovated office, now located at 110 W. Veterans Street.
Michael Dempsey retires and Michael Molepske assumes the title of President in addition to his role as Chief Executive Officer of Bank First.
Michael Molepske is elected as Chairman of the Board of Bank First Corporation and Bank First.
On July 26, 2022, Bank First Corporation signed a Definitive Agreement to acquire Hometown Bancorp, Ltd. Closing is expected to occur in early 2023, subject to customary closing conditions, including regulatory approval, approval by Hometown’s shareholders, and obtaining a conversion date from UFS and Fiserv.
Upon completion of the merger, Tim McFarlane, President and Chief Executive Officer of Hometown Bank, will assume the role of President and will join the Board of Directors of Bank First, N.A. He will also be nominated to the Bank First Corporation Board of Directors. Michael Molepske will continue to serve as Chairman of the Board and Chief Executive Officer at Bank First.
In January 2022, Bank First announced plans to acquire Denmark State Bank, a community bank with a similar relationship-based banking philosophy and strong expertise in agricultural banking. The merger was completed in August 2022 and is the largest acquisition carried out by Bank First to date, enlarging its footprint to 26 locations and increasing its asset size by approximately $687.6 million.
Today, Bank First has assets of approximately $3.6 billion and operates out of 25 locations throughout Wisconsin. Bank First employs approximately 335 full-time equivalent staff and has been consistently named one of the best banks to work by American Banker. Bank First attributes its success to attracting and retaining top talent who are committed to excellence and adhering to the principles of the bank’s promise: “We are a relationship-based bank focused on providing innovative products and services that are value driven to the communities we serve”.
As Bank First looks to the future, it will continue to focus on its relationship-based model of community banking and expanding its reach throughout the State of Wisconsin. The bank will continue to expand through organic growth and in the form of de novo branches and strategic acquisitions in the coming years and is excited for the opportunity to provide superior products and services to a larger base.