secwatch.observer — SEC 8-K summary
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Issuer:     Bank First Corp (BFC)
CIK:        0001746109
Form:       8-K
Filed at:   2023-08-31T23:59:59+00:00
Accession:  0001104659-23-097111
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1746109/000110465923097111/0001104659-23-097111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1746109/000110465923097111/tm2325168d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-097111

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