Bank First to sell 49.8% stake in UFS LLC; expects $40M pre-tax gain

Bank First Corp

Stake sold to an institution focused on tech-enabled business services, which will also purchase remaining UFS for 100% ownership.
Pre-tax gain of $40M projected from the transaction; close expected late Q3 or early Q4 2023.
UFS, co-founded by Bank First in 1991, provides digital, core, cybersecurity, and cloud services to community banks.
UFS senior management team to remain in place post-closing.

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