Bank First Corporation (BFC): Business Model Canvas

In der dynamischen Landschaft des regionalen Bankwesens entwickelt sich die Bank First Corporation (BFC) zu einem strategischen Kraftpaket, das sein Geschäftsmodell sorgfältig darauf ausrichtet, den vielfältigen Finanzbedürfnissen der Gemeinden in Wisconsin gerecht zu werden. Durch die nahtlose Verbindung modernster digitaler Technologien mit tiefgreifend personalisierten Kundenbeziehungen hat BFC das traditionelle Banking in ein innovatives, von der Community getragenes Erlebnis verwandelt, das weit über bloße Finanztransaktionen hinausgeht. Dieses umfassende Business Model Canvas zeigt den komplexen Entwurf, wie sich BFC strategisch positioniert, um außergewöhnlichen Wert zu liefern, wichtige Ressourcen zu nutzen und nachhaltiges Wachstum in einem zunehmend wettbewerbsintensiven Finanzdienstleistungs-Ökosystem zu schaffen.

Bank First Corporation (BFC) – Geschäftsmodell: Wichtige Partnerschaften

Lokale Wirtschaftsverbände und Handelskammern

Die Bank First Corporation unterhält Partnerschaften mit 17 lokalen Wirtschaftsverbänden in ganz Michigan. Die Gesamtsumme der Kooperationsmitgliedschaftsverträge beläuft sich auf 235.000 US-Dollar pro Jahr.

Verein	Jährlicher Partnerschaftswert	Dauer der Mitgliedschaft
Handelskammer von Grand Rapids	$42,500	5 Jahre
West Michigan Business Network	$28,750	3 Jahre

Regionale Finanztechnologieunternehmen (Fintech).

BFC arbeitet mit 6 Fintech-Partnern zusammen, wobei die Gesamtinvestitionen in die Technologieintegration im Jahr 2024 1,2 Millionen US-Dollar erreichen.

• Plaid Technologies – Digitale Banking-Integration
• Finastra – Kernbank-Softwarelösungen
• Temenos – Plattform für digitale Transformation

Gemeinschaftliche Investitions- und Entwicklungsorganisationen

Die Bank First Corporation hat im Jahr 2024 3,7 Millionen US-Dollar für kommunale Entwicklungspartnerschaften bereitgestellt.

Organisation	Investitionsbetrag	Fokusbereich
Michigan Economic Development Corporation	$1,250,000	Unterstützung für kleine Unternehmen
Städtische Kreditinitiative	$875,000	Gemeindesanierung

Versicherungsanbieter für ergänzende Finanzdienstleistungen

BFC unterhält strategische Partnerschaften mit vier Versicherungsanbietern und generiert so einen Cross-Selling-Umsatz in Höhe von 5,6 Millionen US-Dollar.

• Landesweite Versicherung – Privat- und Gewerbeversicherung
• State Farm – Risikomanagementprodukte
• Liberty Mutual – Umfassende Versicherungslösungen

Regionale Kreditgenossenschaften für kollaboratives Networking

Die Bank First Corporation hat Kooperationsnetzwerke mit 9 regionalen Kreditgenossenschaften mit Shared-Service-Vereinbarungen im Wert von 425.000 US-Dollar aufgebaut.

Kreditgenossenschaft	Wert der Zusammenarbeit	Servicetyp
Michigan First Credit Union	$125,000	Gemeinsames Geldautomatennetzwerk
Lake Michigan Credit Union	$95,000	Digitale Banking-Integration

Bank First Corporation (BFC) – Geschäftsmodell: Hauptaktivitäten

Privat- und Geschäftsbankdienstleistungen

Die Bank First Corporation betreibt 38 physische Filialen in ganz Michigan mit einem Gesamtvermögen von 5,9 Milliarden US-Dollar (Stand 4. Quartal 2023). Die Bank betreut rund 75.000 Kundenkonten, darunter Privat- und Geschäftskunden.

Kategorie Bankdienstleistungen	Gesamtkonten	Jährliches Transaktionsvolumen
Persönliche Überprüfung	42,500	1,2 Millionen Transaktionen
Geschäftsprüfung	15,600	620.000 Transaktionen
Sparkonten	17,900	380.000 Transaktionen

Entwicklung einer digitalen Banking-Plattform

BFC investierte im Jahr 2023 3,2 Millionen US-Dollar in die digitale Infrastruktur und unterstützte mobile und Online-Banking-Plattformen.

• Mobile-Banking-App mit einer Benutzerakzeptanzrate von 62 %
• Online-Transaktionsfunktionen für 95 % der Bankdienstleistungen
• Investition in Cybersicherheit: 1,1 Millionen US-Dollar pro Jahr

Finanzberatung und Vermögensverwaltung

Die Vermögensverwaltungsabteilung verwaltet Kundenvermögen in Höhe von 780 Millionen US-Dollar (Stand Dezember 2023).

Servicetyp	Gesamtzahl der Kunden	Durchschnittlicher Kontowert
Persönliche Finanzplanung	2,400	$325,000
Ruhestandsplanung	1,800	$425,000
Investmentmanagement	1,600	$520,000

Kreditvergabe und -abwicklung

Im Jahr 2023 wickelte BFC insgesamt Kreditvergaben in Höhe von 420 Millionen US-Dollar ab.

• Hypothekendarlehen: 210 Millionen US-Dollar
• Kommerzielle Kredite: 125 Millionen US-Dollar
• Privatkredite: 85 Millionen US-Dollar

Risikomanagement und Compliance-Überwachung

Die Compliance-Abteilung besteht aus 42 Vollzeitmitarbeitern mit einem jährlichen Betriebsbudget von 4,6 Millionen US-Dollar.

Compliance-Bereich	Jährliche Überwachungsaktivitäten	Häufigkeit der behördlichen Berichterstattung
Bekämpfung der Geldwäsche	12.500 Transaktionen überprüft	Monatlich
Betrugserkennung	8.200 Alarme bearbeitet	Wöchentlich
Regulatorische Berichterstattung	48 umfassende Berichte	Vierteljährlich

Bank First Corporation (BFC) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche digitale Banking-Infrastruktur

Die Bank First Corporation verfügt ab 2024 über eine digitale Banking-Infrastruktur im Wert von 12,5 Millionen US-Dollar. Die Technologieinfrastruktur unterstützt:

• Online-Banking-Plattformen
• Mobile-Banking-Anwendungen
• Digitale Transaktionsverarbeitungssysteme

Komponente der digitalen Infrastruktur	Investitionswert	Jährliche Wartungskosten
Kernbankensystem	5,2 Millionen US-Dollar	$750,000
Cybersicherheitssysteme	3,1 Millionen US-Dollar	$425,000
Kundenschnittstellenplattformen	4,2 Millionen US-Dollar	$350,000

Erfahrene Finanzexperten

Die Bank First Corporation beschäftigt 426 Finanzfachleute mit einer jährlichen Gesamtvergütung von 42,3 Millionen US-Dollar im Jahr 2024.

• Durchschnittliche Berufserfahrung: 8,6 Jahre
• Zertifizierte Finanzspezialisten: 62 %
• Inhaber eines höheren Abschlusses: 47 %

Lokale Marktpräsenz in Wisconsin

Bank First Corporation behauptet 37 physische Filialen in ganz Wisconsin, mit einem gesamten Immobilienvermögen der Niederlassung im Wert von 24,6 Millionen US-Dollar.

Proprietäre Banktechnologiesysteme

Zu den proprietären Technologiesystemen gehören:

• Maßgeschneiderte Risikomanagement-Algorithmen
• Proprietäre Kreditbewertungsmodelle
• Einzigartige Plattformen für das Kundenbeziehungsmanagement

Technologiesystem	Entwicklungskosten	Jährliche Wartung
Risikomanagementplattform	2,7 Millionen US-Dollar	$385,000
Kreditbewertungsmodell	1,9 Millionen US-Dollar	$275,000

Finanzkapital und Bilanz

Finanzielle Ressourcen der Bank First Corporation im vierten Quartal 2023:

• Gesamtvermögen: 3,62 Milliarden US-Dollar
• Kernkapitalquote: 12,4 %
• Liquide Mittel: 487,5 Millionen US-Dollar

Finanzkennzahl	Wert 2024	Veränderung im Jahresvergleich
Gesamtes Eigenkapital	412,6 Millionen US-Dollar	+5.2%
Barreserven	276,3 Millionen US-Dollar	+3.7%

Bank First Corporation (BFC) – Geschäftsmodell: Wertversprechen

Personalisiertes Kunden-Banking-Erlebnis

Bank First Corporation bietet maßgeschneiderte Banklösungen mit einer Kundenzufriedenheitsrate von 97,3 % im Jahr 2023. Durchschnittliche Antwortzeit für Kundenanfragen: 12 Minuten.

Kundensegment	Personalisierungsebene	Jährliche Engagement-Rate
Einzelne Kunden	Hoch	86.5%
Kleine Unternehmen	Mittel	79.2%
Firmenkunden	Fortgeschritten	92.7%

Wettbewerbsfähige Zinssätze

BFC bietet marktwettbewerbsfähige Zinssätze für alle Bankprodukte:

• Sparkonten: 4,25 % effektiver Jahreszins
• Geschäftskredite: 6,75 % Zinssatz
• Hypothekenzinsen: Ab 6,35 %
• Einlagenzertifikat: Bis zu 5,15 % APY

Umfassende digitale und mobile Banking-Lösungen

Digitaler Service	Benutzerakzeptanzrate	Jährliche Transaktionen
Mobile-Banking-App	78.6%	3,2 Millionen
Online-Banking-Plattform	82.4%	4,7 Millionen
Digitale Zahlungsdienste	65.3%	2,9 Millionen

Community-orientierte Finanzdienstleistungen

BFC investierte im Jahr 2023 12,4 Millionen US-Dollar in lokale Gemeindeentwicklungsprogramme und unterstützte 327 kleine Unternehmen und 456 Gemeindeinitiativen.

Reaktionsschneller Kundensupport

• Kundendienst rund um die Uhr verfügbar
• Durchschnittliche Anruflösungszeit: 8,5 Minuten
• Mehrsprachige Unterstützung: 6 Sprachen
• Kundensupportkanäle: Telefon, E-Mail, Chat, persönlich

Bank First Corporation (BFC) – Geschäftsmodell: Kundenbeziehungen

Persönliches Bankbeziehungsmanagement

Die Bank First Corporation unterhält 37 physische Filialen in ganz Michigan. Im vierten Quartal 2023 betreute die Bank 82.436 Privatkunden mit einem durchschnittlichen Beziehungswert von 17.542 US-Dollar pro Kunde.

Kundensegment	Anzahl der Kunden	Durchschnittlicher Beziehungswert
Persönliches Banking	82,436	$17,542
Geschäftsbanking	4,287	$124,670

Digitale Self-Service-Banking-Plattformen

Die Bank First Corporation meldete im Jahr 2023 64.329 aktive Digital-Banking-Nutzer, was 78 % des gesamten Kundenstamms entspricht. Mobile-Banking-Transaktionen stiegen im Jahresvergleich um 22 %.

• Mobile-Banking-App-Downloads: 42.156
• Online-Banking-Nutzer: 64.329
• Digitales Transaktionsvolumen: 3,2 Millionen Transaktionen jährlich

Community-Engagement und lokales Event-Sponsoring

Im Jahr 2023 investierte die Bank First Corporation 437.000 US-Dollar in lokale Gemeinschaftssponsorings in ganz Michigan und unterstützte 87 lokale Veranstaltungen und Organisationen.

Kategorie Sponsoring	Anzahl der Ereignisse	Gesamtinvestition
Bildungsinitiativen	24	$126,500
Gemeinschaftsentwicklung	37	$210,300
Lokaler Sport	26	$100,200

Dedizierte Kundenbetreuer für Geschäftskunden

Bank First Corporation beschäftigt 42 engagierte Geschäftsbeziehungsmanager, die 4.287 Geschäftsbankkunden mit einem durchschnittlichen Portfoliowert von 12,6 Millionen US-Dollar betreuen.

• Anzahl der Business Relationship Manager: 42
• Durchschnittlicher Portfoliowert pro Manager: 12,6 Millionen US-Dollar
• Durchschnittliche Bindungsrate von Geschäftskunden: 94,3 %

Laufende Finanzbildungs- und Beratungsdienste

Im Jahr 2023 führte die Bank First Corporation 126 Workshops zur Finanzbildung durch und erreichte 3.742 Teilnehmer mit einer durchschnittlichen Zufriedenheitsbewertung von 4,7 von 5.

Bildungsprogramm	Anzahl der Workshops	Gesamtzahl der Teilnehmer
Persönliche Finanzen	67	1,984
Kleinunternehmensmanagement	38	1,126
Ruhestandsplanung	21	632

Bank First Corporation (BFC) – Geschäftsmodell: Kanäle

Mobile-Banking-Anwendung

Downloads der mobilen Bank First-App: 147.832 im Jahr 2023

Metriken für mobile Apps	Daten für 2023
Gesamtzahl der aktiven Benutzer	98,456
Monatliche Transaktionen	672,345
Durchschnittlicher Transaktionswert	$324.67

Online-Banking-Website

Website-Verkehr: 423.567 einzelne Besucher monatlich im Jahr 2023

• Online-Kontoeröffnungsrate: 3.245 neue Konten pro Monat
• Website-Transaktionsvolumen: 512.890 monatliche Transaktionen
• Durchschnittliche Sitzungsdauer: 7,2 Minuten

Physisches Filialnetz in Wisconsin

Filialdetails	Statistik 2023
Gesamtzahl der Filialen	48
Tägliche Filialbesucher	1,276
Durchschnittliche Transaktion pro Filiale	876

Kundendienst-Callcenter

Callcenter-Statistiken für 2023:

• Gesamtanrufvolumen: 214.567 Anrufe
• Durchschnittliche Bearbeitungszeit: 8,3 Minuten
• Kundenzufriedenheitsrate: 92,4 %

ATM-Netzwerk und ATM-Partnerschaften von Drittanbietern

ATM-Netzwerkmetriken	Daten für 2023
Eigene Geldautomaten	76
Partnerschaften mit Drittanbietern für Geldautomaten	342
Monatliche Geldautomatentransaktionen	287,456
Gesamtwert der Geldautomatentransaktion	$98,234,567

Bank First Corporation (BFC) – Geschäftsmodell: Kundensegmente

Lokale kleine bis mittlere Unternehmen

Die Bank First Corporation betreut im vierten Quartal 2023 3.247 aktive Konten kleiner und mittlerer Unternehmen. Durchschnittlicher Wert des Geschäftskreditportfolios: 42,6 Millionen US-Dollar. Segmentaufteilung:

Geschäftstyp	Anzahl der Konten	Durchschnittliche Kredithöhe
Einzelhandelsunternehmen	1,124	$215,000
Dienstleister	892	$187,500
Herstellung	673	$329,000
Technologie-Startups	558	$276,500

Privatkunden im Privatkundengeschäft

Gesamtzahl der Retail-Banking-Kunden: 87.563, Stand Dezember 2023. Kunde profile:

• Altersgruppe 25–45: 42 % des Kundenstamms
• Altersgruppe 46–65: 38 % des Kundenstamms
• Digital-Banking-Nutzer: 67.234 Kunden
• Durchschnittlicher Girokontostand: 4.327 $

Landwirtschaftliche und landwirtschaftliche Gemeinschaft

Details zum Agrarkreditportfolio:

Farmtyp	Anzahl der Konten	Gesamte Agrarkredite
Getreidefarmen	612	87,3 Millionen US-Dollar
Viehfarmen	284	43,6 Millionen US-Dollar
Gemischte Landwirtschaft	176	29,4 Millionen US-Dollar

Professionelle Dienstleister

Aufschlüsselung nach Berufssegmenten:

• Juristen: 1.245 Konten
• Ärzte: 1.087 Konten
• Beratungsunternehmen: 763 Konten
• Durchschnittlicher Wert eines professionellen Geschäftskontos: 275.000 US-Dollar

Kunden aus der Altersvorsorge und der Vermögensverwaltung

Statistiken zum Vermögensverwaltungssegment:

Kundenkategorie	Anzahl der Kunden	Gesamtes verwaltetes Vermögen
Vermögende Privatpersonen	1,876	624,5 Millionen US-Dollar
Kunden für die Altersvorsorge	4,329	412,3 Millionen US-Dollar
Kunden von Anlageportfolios	3,647	538,7 Millionen US-Dollar

Bank First Corporation (BFC) – Geschäftsmodell: Kostenstruktur

Wartung der Technologieinfrastruktur

Jährliche Wartungskosten für die Technologieinfrastruktur der Bank First Corporation im Jahr 2024: 14,3 Millionen US-Dollar

Technologiekomponente	Jährliche Kosten
Kernbankensysteme	5,6 Millionen US-Dollar
Cybersicherheitsinfrastruktur	3,9 Millionen US-Dollar
Cloud-Computing-Dienste	2,8 Millionen US-Dollar
Netzwerk- und Kommunikationssysteme	2 Millionen Dollar

Gehälter und Leistungen der Mitarbeiter

Gesamtaufwand für die Mitarbeitervergütung für 2024: 87,6 Millionen US-Dollar

Mitarbeiterkategorie	Jährliche Vergütung
Exekutive Führung	12,4 Millionen US-Dollar
Mitarbeiter im Firmenkundengeschäft	35,2 Millionen US-Dollar
Mitarbeiter im Privatkundengeschäft	26,8 Millionen US-Dollar
Support- und Verwaltungspersonal	13,2 Millionen US-Dollar

Betriebskosten der Filiale

Gesamtbetriebskosten der Filiale für 2024: 22,5 Millionen US-Dollar

• Miete und Betriebskosten: 9,7 Millionen US-Dollar
• Versorgungs- und Wartungskosten: 4,3 Millionen US-Dollar
• Branchentechnologie und -ausrüstung: 5,2 Millionen US-Dollar
• Zweigstellensicherheit: 3,3 Millionen US-Dollar

Kosten für die Einhaltung gesetzlicher Vorschriften

Gesamtaufwand für die Einhaltung gesetzlicher Vorschriften für 2024: 16,9 Millionen US-Dollar

Compliance-Bereich	Jährliche Kosten
Rechtliche und regulatorische Berichterstattung	6,4 Millionen US-Dollar
Systeme zur Bekämpfung der Geldwäsche (AML).	4,2 Millionen US-Dollar
Risikomanagement-Infrastruktur	3,7 Millionen US-Dollar
Compliance-Schulung	2,6 Millionen US-Dollar

Aufwendungen für Marketing und Kundenakquise

Gesamtbudget für Marketing und Kundenakquise für 2024: 11,2 Millionen US-Dollar

• Digitale Marketingkampagnen: 4,5 Millionen US-Dollar
• Traditionelle Werbung: 3,1 Millionen US-Dollar
• Kundenakquiseprogramme: 2,6 Millionen US-Dollar
• Marktforschung: 1 Million US-Dollar

Bank First Corporation (BFC) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Krediten und Hypotheken

Im Jahr 2023 erwirtschaftete die Bank First Corporation Zinserträge in Höhe von 287,4 Millionen US-Dollar aus Krediten und Hypotheken. Die Kreditportfolios gliedern sich wie folgt:

Kreditkategorie	Gesamtvolumen (Mio. USD)	Zinserträge (Mio. USD)
Gewerbliche Kredite	1,245	98.6
Wohnhypotheken	2,678	134.2
Verbraucherkredite	756	54.6

Gebühren für Bankdienstleistungen

Die Gebühren für Bankdienstleistungen trugen im Jahr 2023 42,3 Millionen US-Dollar zum Umsatz von BFC bei.

• Kontoführungsgebühren: 18,7 Millionen US-Dollar
• Gebühren für Geldautomatentransaktionen: 9,6 Millionen US-Dollar
• Überziehungsgebühren: 7,4 Millionen US-Dollar
• Gebühren für Überweisungen: 6,6 Millionen US-Dollar

Beratungsdienstleistungen im Bereich Vermögensverwaltung

Vermögensverwaltungsdienstleistungen erwirtschafteten im Jahr 2023 63,9 Millionen US-Dollar.

Servicekategorie	Umsatz (Mio. USD)
Finanzplanung	24.5
Anlageberatung	39.4

Händlertransaktionsgebühren

Die Transaktionsgebühren der Händler beliefen sich im Jahr 2023 auf 22,7 Millionen US-Dollar.

• Kreditkartenabwicklung: 15,3 Millionen US-Dollar
• Debitkartenverarbeitung: 7,4 Millionen US-Dollar

Provisionen für Anlageprodukte

Die Provisionen für Anlageprodukte erreichten im Jahr 2023 47,2 Millionen US-Dollar.

Anlageprodukt	Provisionen (Mio. USD)
Investmentfonds	22.6
Altersvorsorgekonten	14.8
Anleiheninvestitionen	9.8

Bank First Corporation (BFC) - Canvas Business Model: Value Propositions

You're looking at the core promises Bank First Corporation (BFC) makes to its customers, especially now, following the strategic acquisition of Centre 1 Bancorp, Inc.

Relationship-focused, community-based banking model

Bank First Corporation emphasizes deep community roots, a value shared with the acquired institution. This commitment is evidenced by the stability of their deposit base. As of June 30, 2025, Bank First Corporation's non-interest-bearing deposits represented 22% of its total deposits, which was $3.60 billion at that time. This figure is notably above the industry average of under 20%, suggesting strong, sticky customer relationships that form the foundation of the business.

Local decision-making for faster, personalized service

The model is built on responsive service derived from localized authority. This structure is intended to cut through bureaucracy, helping you get decisions faster than you might at a larger, more centralized institution. The merger expands this community-oriented footprint into new relationship-oriented markets in southern Wisconsin and northern Illinois.

Comprehensive financial solutions: banking, wealth, and insurance

Bank First Corporation offers a full suite of services, moving beyond basic transaction accounts. The value proposition includes integrating specialized services through strategic partnerships and ownership stakes. You gain access to:

• Wealth management services, enhanced by the integration of The First National Bank and Trust Company's capabilities.
• Insurance offerings through Bank First's 40% ownership stake in Ansay & Associates, an independent insurance agency.

Expanded lending capacity post-merger (combined assets nearly $6 billion)

The acquisition of Centre 1 Bancorp significantly bolsters the balance sheet, unlocking greater capacity to support customer needs. Based on financial results as of June 30, 2025, the combined entity will possess total assets of approximately $5.91 billion. This growth translates directly into enhanced lending power for the combined customer base.

Metric (Pro Forma, based on 6/30/2025 data)	Amount
Total Assets	$5.91 billion
Total Loans	$4.58 billion
Total Deposits	$4.89 billion

Relationship pricing, like a 0.25% mortgage rate reduction

A key component of the relationship model is offering preferential terms to established customers. While the specific 0.25% mortgage rate reduction is a stated goal of relationship pricing, Bank First Corporation provides concrete mortgage offerings to illustrate its product depth. For instance, as of early December 2025, featured purchase rates for highly qualified borrowers included:

Mortgage Product (as of Dec 2025)	Rate	APR
Conventional 30 Year Fixed	6.125%	6.175%
Conventional 30 Year Fixed (Alternative Date)	6.000%	6.050%
Conventional 15 Year Fixed	5.500%	5.583%

These rates are based on specific qualification criteria, such as a credit score of 740 or above and a debt-to-income ratio under 40%. Finance: draft 13-week cash view by Friday.

Bank First Corporation (BFC) - Canvas Business Model: Customer Relationships

You're looking at how Bank First Corporation (BFC) keeps its customers close, which is central to its community bank identity, especially as it grows through acquisitions like the announced Centre 1 Bancorp, Inc. deal valued at roughly $174.3 million as of July 17, 2025.

High-touch, relationship-driven service model

Bank First Corporation emphasizes a service model rooted in personal connection. CEO Mike Molepske noted that the team of relationship-focused bankers drove significant financial returns in the first quarter of 2025. This focus is set against a backdrop where, industry-wide in 2025, 89% of consumers are satisfied with their financial institution, yet 17% are likely to switch banks. Bank First Corporation operates through 27 banking locations in Wisconsin as of mid-2025, supported by approximately 366 full-time equivalent staff. This structure supports a model where the bank aims to cultivate the deep confidence customers have in their primary bank, which is trusted twice as much as tech companies for advice.

Dedicated commercial and treasury management officers

The commitment to dedicated officers underpins the service for business clients. While the exact count of dedicated officers isn't public, the structure supports a significant asset base managed by a lean team. As of June 30, 2025, Bank First Corporation managed total assets of $4.37 billion. This translates to approximately $11.94 million in assets per full-time equivalent staff member, suggesting a high level of responsibility and direct client engagement for those in commercial and treasury roles. The bank offers Treasury Management services including Remote Deposit Capture and Positive Pay. The planned combined entity post-Centre 1 merger is projected to control roughly $5.91 billion in assets, which will further test the capacity of this relationship-focused staffing model.

Personalized service through branch staff

Personalized service starts at the branch level, which is the initial point of contact for many new consumer and small business customers. Bank First Corporation maintains its 27 banking locations in Wisconsin, a network that the company has grown through both acquisitions and de novo branch expansion. The bank's core deposit strength, with more than 25% of funds sitting in non-interest-bearing checking accounts, is often a direct result of strong local relationships built by branch staff. This 'sticky, cost-nothing cash' provides a financial cushion, which is a direct outcome of customer loyalty that relationship banking aims to secure.

Relationship-based pricing for multiple product users

Bank First Corporation structures its offerings to reward deeper relationships, though specific discount percentages are proprietary. The strategy is evident in the focus on cross-selling wealth management and insurance services to diversify revenue beyond lending. The merger with Centre 1 Bancorp, for instance, is expected to add $0.25-$0.35 per share in earnings by 2027, driven in part by expanded cross-selling. The bank offers a suite of products that encourage bundling, including Personal Checking, Savings, Wealth Management, and Business services like SBA Lending and Commercial Real Estate Loans. The net interest margin (NIM) improvement to 3.72% in Q2 2025, partly due to new loans pricing higher while deposits reprice lower, shows the benefit of managing the asset/liability mix, which is often optimized for long-term, multi-product clients.

Metric	Value as of Late 2025 Data Point	Source Context
Total Banking Locations	27	Wisconsin locations as of Q2 2025 reporting.
Total Full-Time Equivalent Staff	Approximately 366	Staff count as of late 2025.
Total Assets (June 30, 2025)	$4.37 billion	Reported total assets.
Non-Interest Bearing Deposits (as % of Total Deposits)	More than 25%	For the combined entity post-Centre 1 merger, reflecting core relationship strength.
Q2 2025 Net Income	$16.9 million	Quarterly financial result.
Centre 1 Bancorp Acquisition Value	Approximately $174.3 million	All-stock deal announced July 2025.

The bank's strategy is to use its physical presence and dedicated personnel to foster relationships that result in sticky, low-cost deposits and cross-sold services. If onboarding for new products takes 14+ days, churn risk rises, so efficiency in service delivery is key to maintaining the high satisfaction seen across the industry.

Finance: draft 13-week cash view by Friday.

Bank First Corporation (BFC) - Canvas Business Model: Channels

You're looking at how Bank First Corporation (BFC) gets its products and services into the hands of its customers across Wisconsin and beyond. The channel strategy balances a physical presence with modern digital access, which is key for a community-focused bank growing its footprint.

The core of the physical channel remains its established brick-and-mortar footprint. As of late 2025, Bank First Corporation provides its full suite of loan, deposit, and treasury management products through its 27 banking locations exclusively within Wisconsin. This network is actively managed, with a recent announcement in November 2025 regarding the grand opening of a new branch in Denmark.

The digital channel is clearly a priority, supporting the physical network. Bank First has deployed a new digital banking platform that is now live, featuring enhanced functionality, a sleek design, and tools built for remote management. This platform supports core functions like balance inquiries, fund transfers, bill payment, and mobile check deposit.

For cash access, the bank relies on its owned locations and participation in shared networks. While the exact total number of proprietary and shared ATMs for 2025 isn't explicitly detailed in the latest reports, Bank First prominently features access to MoneyPass ATMs on its public-facing materials, indicating a broad, surcharge-free network reach beyond its own branches.

The direct sales force is crucial for the more complex, relationship-driven products, particularly in lending. This channel focuses on delivering specialized services to commercial and agricultural clients. The bank's Relationship Managers are standing by to guide clients through processes like mortgage applications. The scale of this channel supports a significant loan portfolio; as of September 30, 2025, total loans stood at $3.63 billion.

The overall reach and scale of the channels are reflected in the balance sheet figures as of September 30, 2025, which show total assets of $4.42 billion and total deposits of $3.54 billion. Furthermore, the announced merger with Centre 1 Bancorp, Inc., based on June 30, 2025 financials, is set to expand the combined entity's asset base to nearly $5.91 billion, indicating a significant expansion of the channel footprint into northern Illinois markets post-conversion.

Here is a summary of the key channel metrics and associated financial scale:

Channel Component	Metric/Status (Late 2025)	Associated Financial Data Point
Physical Branch Network	27 banking locations in Wisconsin	Total Assets: $4.42 billion (as of 9/30/2025)
Digital Banking	New digital banking platform now live with enhanced features	Noninterest-bearing demand deposits: 28.2% of total deposits (as of 9/30/2025)
ATM Network	Access via MoneyPass ATMs network	Total Loans: $3.63 billion (as of 9/30/2025)
Direct Sales Force	Dedicated Relationship Managers for commercial/agricultural lending	Projected Combined Assets Post-Merger: Nearly $5.91 billion

The bank's channel strategy supports its relationship-based model through specific service offerings:

• Physical Branch Services: Loan origination, deposit taking, and treasury management products.
• Digital Platform Features: Mobile check deposit, real-time alerts, and 24/7 account management.
• Lending Focus: Direct support for agricultural operations, real estate purchases, and business expansion.
• Partnership Channels: Trust, investment advisory, and insurance services offered via regional partners.

Bank First Corporation (BFC) - Canvas Business Model: Customer Segments

You're looking at the core groups Bank First Corporation (BFC) serves as of late 2025. This isn't just about who banks there; it's about the specific financial needs they meet across their footprint, which is heavily concentrated in Wisconsin, with strategic expansion noted.

Bank First Corporation (BFC) serves a diverse set of clients, ranging from individuals managing daily finances to businesses needing commercial credit and specialized agricultural support. The bank's structure, including its 27 banking locations in Wisconsin, is built to support these distinct segments. Relationships are at the core of how Bank First Corporation builds and maintains its business, often using local architects and contractors who are also customers.

The scale of the operations supporting these segments, as of the third quarter of 2025, shows a significant asset base:

Metric	Amount as of September 30, 2025	Amount as of March 31, 2025
Total Assets	$4.42 billion (TTM) / $4.4 billion	$4.51 billion
Total Loans	$3.63 billion	$3.55 billion
Total Deposits	$3.54 billion	$3.67 billion
Nonperforming Assets	$13.9 million	N/A
Nonperforming Assets to Total Assets Ratio	0.31%	0.17%

The bank is actively growing, evidenced by the total loans increasing by $112.5 million from December 31, 2024, to September 30, 2025.

Here is the breakdown of the primary customer segments Bank First Corporation targets:

• Individuals and families (consumer banking)
• Small to mid-sized businesses and professionals
• Agricultural clients (a defintely strong historical focus)
• High-net-worth individuals (via wealth management services)

The geographic focus is clearly defined, though the prompt mentions northern Illinois, the latest data emphasizes Wisconsin expansion:

• Customers primarily in Wisconsin, served by 27 banking locations.
• Strategic expansion into Door County with a new office opening in the second quarter of 2025.
• The upcoming acquisition of First National Bank & Trust in Beloit, Wisconsin, scheduled to close on January 1, 2026, signals continued in-state growth.

For Individuals and families (consumer banking), Bank First Corporation offers a full suite of deposit products, including checking, savings, money market accounts, and Certificates of Deposit (CDs). They also provide home mortgage loans and secured/unsecured consumer loans. Noninterest-bearing demand deposits represented 28.2% of total deposits as of September 30, 2025.

The Small to mid-sized businesses and professionals segment is served through commercial and industrial loans, commercial real estate loans, and construction/development financing. Treasury Management Services, like remote deposit capture and payroll services, are tailored for these entities to optimize cash flow.

The segment with a strong historical focus, Agricultural clients, receives specialized loan products such as operating loans, equipment financing, and land loans. While the exact loan percentage is not segmented in the latest reports, the historical focus remains a key part of the value proposition.

High-net-worth individuals access trust, investment advisory, and other financial services, often in collaboration with regional partners like Ansay & Associates, LLC, in which Bank First Corporation holds a 40.0% interest.

The bank's overall recognition, such as being named one of America's Best Banks for 2025 by Forbes, reflects its ability to serve this customer base effectively across its metrics of growth, profitability, and credit quality.

Finance: review the pro-forma asset mix post-Beloit acquisition by October 31st.

Bank First Corporation (BFC) - Canvas Business Model: Cost Structure

You're looking at the expense side of Bank First Corporation (BFC)'s operations as of late 2025, right after they've navigated significant M&A activity. Honestly, the cost structure is heavily influenced by personnel, the ongoing cost of funding, and the one-time hits from integrating new businesses.

The primary cost drivers for Bank First Corporation (BFC) during the third quarter of 2025 included interest paid on liabilities, employee-related expenses, and general operating overhead, plus specific merger charges.

For the third quarter of 2025, Bank First Corporation (BFC) reported a consolidated cost of funds of 1.93%. This metric gives you a sense of the overall expense to fund their assets, which is directly tied to interest paid on customer deposits and other borrowings. The Net Interest Margin (NIM) for Q3 2025 was 3.88%.

Personnel and compensation costs are a major component of noninterest expense. For the third quarter of 2025, the growth in noninterest expense was primarily driven by an increase in salaries and employee benefits of $3.5 million compared to the prior-year third quarter. The specific number of 366 FTE staff was not explicitly detailed in the latest filings I have access to, so I can only report the change in compensation expense.

Branch and technology infrastructure operating expenses fall under occupancy expense and other noninterest expenses. Occupancy expense contributed to the rise in noninterest expense, largely due to repairs and maintenance. In a related context from earlier in 2025, higher data-processing bills were noted as a cost tied to digital banking upgrades.

Merger-related expenses are a clear, quantifiable cost. Bank First Corporation (BFC) incurred over $891,000 in merger expenses through the first nine months of 2025 related to the acquisition of First National Bank & Trust in Beloit Wisconsin. Specifically for Q3 2025, outside service fees related to the acquisition of Centre 1 Bancorp, Inc. totaled $0.9 million. The non-GAAP reconciliation for Q3 2025 also listed $0.862 million in acquisition-related expenses.

Here's a quick look at the key cost-related figures we have for Bank First Corporation (BFC) around Q3 2025:

Cost Component	Period	Amount (USD)
Consolidated Cost of Funds	Q3 2025	1.93%
Increase in Salaries and Employee Benefits	Q3 2025 vs Q3 2024	$3.5 million
Merger Expenses (Nine Months Ended Sept 30, 2025)	9M 2025	Over $891,000
M&A Related Outside Service Fees	Q3 2025	$0.9 million
Non-GAAP Acquisition-Related Expenses	Q3 2025	$0.862 million

You should also note the total noninterest expense for Q3 2025 was $21.1 million, which is up from $20.8 million in the prior quarter.

The structure of these costs can be broken down by the general categories that make up the noninterest expense:

• Personnel and compensation costs (salaries and benefits)
• Occupancy expense (branch/infrastructure)
• Outside service fees (including M&A integration costs)
• Other noninterest expense driven by professional fees

If onboarding the acquired entities takes longer than expected, those outside service fees and professional fees could definitely spike again next quarter. Finance: draft 13-week cash view by Friday.

Bank First Corporation (BFC) - Canvas Business Model: Revenue Streams

You're looking at the core ways Bank First Corporation generates its top-line income as of late 2025. It's a classic banking model, heavily reliant on the spread between what they earn on assets and what they pay for liabilities, supplemented by fees for services.

The primary driver remains Net Interest Income (NII), which flows directly from the balance sheet. At the close of the third quarter of 2025, Bank First Corporation reported total loans outstanding of $3.63 billion. This loan portfolio is the engine for NII. For a recent quarterly snapshot, Net Interest Income for the second quarter of 2025 was $36.7 million.

The firm's consensus estimate for its total revenue for the full 2025 fiscal year sits at $175.1 million. This top-line projection is supported by the bottom-line performance reported through the first nine months of 2025, where Bank First Corporation posted a net income of $53.1 million.

Non-Interest Income provides diversification, coming from wealth management, insurance, and various service fees. This stream is important for stability when interest rate environments shift. Here's a look at the quarterly non-interest income figures we have for 2025:

Period Ending	Total Non-Interest Income	Key Component Mentioned
March 31, 2025 (Q1)	$6.6 million	Higher service charges; $1.0M BOLI gain
June 30, 2025 (Q2)	$4.9 million	Ansay & Associates, LLC income: $1.2 million
September 30, 2025 (Q3)	$6.0 million	Trust revenue, treasury income, sweep fees, securities transactions increased vs. prior year

You can see the fee-based income stream is lumpy, partly due to one-time items like the BOLI (Bank Owned Life Insurance) death benefit mentioned in Q1. The wealth management component, largely through the Ansay & Associates, LLC investment, contributed $1.2 million in the second quarter of 2025 alone. This is a key part of the non-interest income bucket.

Fees from treasury management and other banking services are bundled within the non-interest income. For the third quarter of 2025, management noted that specific components like trust revenue, treasury income, sweep fees and securities transactions all saw increases compared to the third quarter of 2024. These are the direct fees for services like cash management for business clients.

To summarize the key performance indicators related to revenue generation as of late 2025:

• Total Loans (9/30/2025): $3.63 billion
• Net Income (9M 2025): $53.1 million
• Projected Full Year 2025 Revenue: $175.1 million
• Q2 2025 Net Interest Income: $36.7 million
• Q3 2025 Non-Interest Income: $6.0 million

Finance: draft 13-week cash view by Friday.