Bank First Corporation to acquire PSB Holdings in all-stock deal valued at ~$202.9M

Bank First Corp

Each PSB share to be exchanged for 0.3470 BFC shares; aggregate consideration ~$202.9M based on BFC close of $143.66.
Combined assets exceed $7.6B, with loans ~$5.64B and deposits ~$6.27B.
Transaction expected to close in Q4 2026, subject to regulatory and PSB shareholder approval.
PSB shareholders receive over 80% market premium; BFC to add one PSB board member.
Deal extends BFC's footprint into North Central Wisconsin and greater Milwaukee area.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Bank First Corp entered into Agreement and Plan of Merger with PSB Holdings, Inc. (effective 2026-05-19).

Action: entry
Agreement: merger
Counterparty: PSB Holdings, Inc.
Effective: 2026-05-19

Exact text from the filing

On May 19, 2026, Bank First Corporation, a Wisconsin corporation (“BFC”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with PSB Holdings, Inc., a Wisconsin corporation (“PSB”), whereby PSB will be merged with and into BFC (the “Merger”).

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Bank First Corp filing history →

Source: SEC EDGAR

accession 0001104659-26-063919

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