Peoples State Bank to Join Bank First

Together, With a Shared Commitment

We are excited to announce that the holding companies of Peoples State Bank and Bank First have entered into an Agreement and Plan of Merger. This partnership unites two relationship-driven banks with deep community roots and a shared commitment to responsive, solutions-oriented service.

For full details, please refer to the official news release: Definitive Agreement Announcement 5-19-2026

Merger Highlights

Combines Two Strong Community Banks

Unites two relationship-driven institutions with deep community roots and a shared commitment to responsive, solutions-oriented service.

Strategic Geographic Expansion

Extends Bank First’s footprint into high-potential, community-centric markets across North Central Wisconsin and the greater Milwaukee area.

Increased Financial Capacity

Increases our combined asset size to over $7.6 billion, enhancing lending capacity and service capabilities across our markets.

The partnership brings together two organizations with shared values, strong customer relationships, and a commitment to community banking. Bank First expands into attractive markets across North Central Wisconsin and the greater Milwaukee area, with a complementary branch network, while Peoples benefits from the scale, resources, and technology of a larger institution without sacrificing local decision making or its community-focused culture.

Customers of both banks will have access to expanded products, services, and capabilities. Peoples customers gain access to Bank First’s advanced digital banking solutions, strong retail offerings, and a broader suite of Treasury Management products and services. Bank First customers benefit from Peoples’ experienced team, strong local presence, and award-winning service culture.

Frequently Asked Questions

Why Peoples State Bank?

Bank First chose to partner with Peoples State Bank because of its strong market presence, talented team, and deep community ties. Like Bank First, Peoples has built a strong core deposit franchise through long‑standing relationships. Peoples’ team is embedded in the communities it serves, living there, giving back through volunteerism, and building meaningful connections with customers they know by name.

How large is Peoples State Bank?

Peoples State Bank is a leading full-service financial institution with 12 locations across North Central Wisconsin and the greater Milwaukee area. As of March 31, 2026, they employed approximately 210 employees and reported assets of approximately $1.5 billion.

When will Peoples State Bank become Bank First?

Pending regulatory and shareholder approvals, the merger is expected to close in December 2026, with system conversion occurring immediately thereafter. Until then, everything will operate as usual under the Peoples State Bank name.

Will I have access to more locations?

Yes, eventually. Following the conversion in December 2026, Bank First customers will have access to more branches in north central Wisconsin and the greater Milwaukee area, including Waukesha.

Can I go to a Peoples State Bank location to make banking transactions?

Not yet. For services related to Bank First accounts, please continue to visit any of our locations until the system conversion in December 2026. After conversion, you will be able to utilize all locations.