---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-097111"
form_type: "8-K"
ticker: "BFC"
cik: "0001746109"
company_name: "Bank First Corp"
filed_at: "2023-08-31T23:59:59+00:00"
generated_at: "2026-06-11T01:21:55.110411+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-097111
- form_type: 8-K
- ticker: BFC
- cik: 0001746109
- company_name: Bank First Corp
- filed_at: 2023-08-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1746109/000110465923097111/0001104659-23-097111-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1746109/000110465923097111/tm2325168d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-097111
- JSON: https://secwatch.observer/filing/0001104659-23-097111.json
- Plain text: https://secwatch.observer/filing/0001104659-23-097111.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.