Bank First Corporation (BFC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la banca regional, Bank First Corporation (BFC) surge como una potencia estratégica, elaborando meticulosamente su modelo de negocio para satisfacer las diversas necesidades financieras de las comunidades de Wisconsin. Al combinar a la perfección las tecnologías digitales de vanguardia con relaciones con los clientes profundamente personalizadas, BFC ha transformado la banca tradicional en una experiencia innovadora impulsada por la comunidad que va mucho más allá de las simples transacciones financieras. Este lienzo de modelo comercial integral revela el intrincado plan de cómo BFC se posiciona estratégicamente para ofrecer un valor excepcional, aprovechar los recursos clave y crear un crecimiento sostenible en un ecosistema de servicios financieros cada vez más competitivos.

Bank First Corporation (BFC) - Modelo de negocio: asociaciones clave

Asociaciones comerciales locales y cámaras de comercio

Bank First Corporation mantiene asociaciones con 17 asociaciones comerciales locales en Michigan. Los acuerdos de membresía colaborativa totalizan $ 235,000 anuales.

Asociación	Valor de asociación anual	Duración de membresía
Cámara de Comercio de Grand Rapids	$42,500	5 años
Red de negocios de West Michigan	$28,750	3 años

Empresas de tecnología financiera regional (fintech)

BFC colabora con 6 socios fintech, con inversiones totales de integración de tecnología que alcanzan $ 1.2 millones en 2024.

• Tecnologías a cuadros: integración de banca digital
• FINASTRA - Soluciones de software de banca central
• Temenos - Plataforma de transformación digital

Organizaciones de inversión y desarrollo comunitario

Bank First Corporation ha cometido $ 3.7 millones a asociaciones de desarrollo comunitario en 2024.

Organización	Monto de la inversión	Área de enfoque
Corporación de Desarrollo Económico de Michigan	$1,250,000	Soporte de pequeñas empresas
Iniciativa de préstamos urbanos	$875,000	Reurbanización de la comunidad

Proveedores de seguros para servicios financieros complementarios

BFC tiene asociaciones estratégicas con 4 proveedores de seguros, generando $ 5.6 millones en ingresos de venta cruzada.

• Seguro nacional - seguro personal y comercial
• Estatal Farm - Productos de gestión de riesgos
• Liberty Mutual: soluciones de seguro integrales

Uniones de crédito regionales para redes colaborativas

Bank First Corporation ha establecido redes colaborativas con 9 cooperativas de crédito regionales, con acuerdos de servicio compartidos valorados en $ 425,000.

Cooperativa de crédito	Valor de colaboración	Tipo de servicio
Michigan First Credit Union	$125,000	Red de cajero automático compartido
Lake Michigan Credit Union	$95,000	Integración bancaria digital

Bank First Corporation (BFC) - Modelo de negocio: actividades clave

Servicios de banca minorista y comercial

Bank First Corporation opera 38 ubicaciones de sucursales físicas en Michigan, con activos totales de $ 5.9 mil millones a partir del cuarto trimestre de 2023. El banco atiende a aproximadamente 75,000 cuentas de clientes, incluidos segmentos de banca personal y comercial.

Categoría de servicio bancario	Cuentas totales	Volumen de transacción anual
Comprobación personal	42,500	1,2 millones de transacciones
Verificación de negocios	15,600	620,000 transacciones
Cuentas de ahorro	17,900	380,000 transacciones

Desarrollo de la plataforma de banca digital

BFC invirtió $ 3.2 millones en infraestructura digital en 2023, admitiendo plataformas de banca móvil y en línea.

• Aplicación de banca móvil con 62% de tasa de adopción del usuario
• Capacidades de transacción en línea para el 95% de los servicios bancarios
• Inversión de ciberseguridad: $ 1.1 millones anualmente

Asesoramiento financiero y gestión de patrimonio

Wealth Management Division administra $ 780 millones en activos del cliente a diciembre de 2023.

Tipo de servicio	Total de clientes	Valor de cuenta promedio
Planificación financiera personal	2,400	$325,000
Planificación de jubilación	1,800	$425,000
Gestión de inversiones	1,600	$520,000

Originación y procesamiento de préstamos

En 2023, BFC procesó $ 420 millones en originaciones totales de préstamos.

• Préstamos hipotecarios: $ 210 millones
• Préstamos comerciales: $ 125 millones
• Préstamos personales: $ 85 millones

Gestión de riesgos y monitoreo de cumplimiento

El departamento de cumplimiento consta de 42 profesionales a tiempo completo con un presupuesto operativo anual de $ 4.6 millones.

Área de cumplimiento	Actividades de monitoreo anual	Frecuencia de informes regulatorios
Anti-lavado de dinero	12,500 transacciones revisadas	Mensual
Detección de fraude	8.200 alertas procesadas	Semanalmente
Informes regulatorios	48 informes completos	Trimestral

Bank First Corporation (BFC) - Modelo de negocio: recursos clave

Infraestructura de banca digital avanzada

Bank First Corporation opera con una infraestructura bancaria digital valorada en $ 12.5 millones a partir de 2024. La infraestructura tecnológica admite:

• Plataformas de banca en línea
• Aplicaciones de banca móvil
• Sistemas de procesamiento de transacciones digitales

Componente de infraestructura digital	Valor de inversión	Costo de mantenimiento anual
Sistema bancario central	$ 5.2 millones	$750,000
Sistemas de ciberseguridad	$ 3.1 millones	$425,000
Plataformas de interfaz de clientes	$ 4.2 millones	$350,000

Profesionales financieros calificados

Bank First Corporation emplea a 426 profesionales financieros con una compensación anual total de $ 42.3 millones en 2024.

• Experiencia profesional promedio: 8.6 años
• Especialistas financieros certificados: 62%
• Titulares de grado avanzado: 47%

Presencia del mercado local en Wisconsin

Bank First Corporation mantiene 37 ubicaciones de ramas físicas En todo Wisconsin, con activos inmobiliarios totales de sucursal valorados en $ 24.6 millones.

Sistemas de tecnología bancaria patentada

Los sistemas tecnológicos patentados incluyen:

• Algoritmos de gestión de riesgos personalizados
• Modelos de puntuación de crédito patentado
• Plataformas únicas de gestión de relaciones con el cliente

Sistema tecnológico	Costo de desarrollo	Mantenimiento anual
Plataforma de gestión de riesgos	$ 2.7 millones	$385,000
Modelo de calificación crediticia	$ 1.9 millones	$275,000

Capital financiero y balance general

Los recursos financieros de Bank First Corporation a partir del cuarto trimestre de 2023:

• Activos totales: $ 3.62 mil millones
• Relación de capital de nivel 1: 12.4%
• Activos líquidos: $ 487.5 millones

Métrica financiera	Valor 2024	Cambio año tras año
Equidad total de accionistas	$ 412.6 millones	+5.2%
Reservas de efectivo	$ 276.3 millones	+3.7%

Bank First Corporation (BFC) - Modelo de negocio: propuestas de valor

Experiencia bancaria personalizada de clientes

Bank First Corporation ofrece soluciones bancarias personalizadas con una tasa de satisfacción del cliente 97.3% en 2023. Tiempo de respuesta promedio para consultas de clientes: 12 minutos.

Segmento de clientes	Nivel de personalización	Tasa de compromiso anual
Clientes individuales	Alto	86.5%
Pequeñas empresas	Medio	79.2%
Clientes corporativos	Avanzado	92.7%

Tasas de interés competitivas

BFC proporciona tarifas competitivas en el mercado entre los productos bancarios:

• Cuentas de ahorro: 4.25% APY
• Préstamos comerciales: 6.75% de tasa de interés
• Tasas hipotecarias: a partir del 6.35%
• Certificado de depósitos: hasta 5.15% APY

Soluciones integrales de banca digital y móvil

Servicio digital	Tasa de adopción de usuarios	Transacciones anuales
Aplicación de banca móvil	78.6%	3.2 millones
Plataforma bancaria en línea	82.4%	4.7 millones
Servicios de pago digital	65.3%	2.9 millones

Servicios financieros centrados en la comunidad

BFC invirtió $ 12.4 millones en programas locales de desarrollo comunitario en 2023, apoyando a 327 pequeñas empresas y 456 iniciativas comunitarias.

Atención al cliente receptiva

• Disponibilidad de servicio al cliente 24/7
• Tiempo de resolución de llamadas promedio: 8.5 minutos
• Soporte multilingüe: 6 idiomas
• Canales de atención al cliente: teléfono, correo electrónico, chat, en persona

Bank First Corporation (BFC) - Modelo de negocio: relaciones con los clientes

Gestión de la relación bancaria personal

Bank First Corporation mantiene 37 ubicaciones de sucursales físicas en Michigan. A partir del cuarto trimestre de 2023, el banco atiende a 82,436 clientes de banca personal con un valor de relación promedio de $ 17,542 por cliente.

Segmento de clientes	Número de clientes	Valor de relación promedio
Banca personal	82,436	$17,542
Banca de negocios	4,287	$124,670

Plataformas de banca de autoservicio digital

Bank First Corporation reportó 64,329 usuarios activos de banca digital en 2023, lo que representa el 78% de la base total de clientes. Las transacciones bancarias móviles aumentaron en un 22% año tras año.

• Descargas de aplicaciones de banca móvil: 42,156
• Usuarios bancarios en línea: 64,329
• Volumen de transacciones digitales: 3.2 millones de transacciones anualmente

Participación comunitaria y patrocinios de eventos locales

En 2023, Bank First Corporation invirtió $ 437,000 en patrocinios comunitarios locales en Michigan, apoyando a 87 eventos y organizaciones locales.

Categoría de patrocinio	Número de eventos	Inversión total
Iniciativas educativas	24	$126,500
Desarrollo comunitario	37	$210,300
Deportes locales	26	$100,200

Gerentes de relaciones dedicadas para clientes comerciales

Bank First Corporation emplea a 42 gerentes de relaciones comerciales dedicadas que atienden a 4,287 clientes de banca comercial con un valor de cartera promedio de $ 12.6 millones.

• Número de gerentes de relaciones comerciales: 42
• Valor promedio de la cartera por gerente: $ 12.6 millones
• Tasa promedio de retención de clientes comerciales: 94.3%

Educación financiera continua y servicios de asesoramiento

En 2023, Bank First Corporation realizó 126 talleres de educación financiera, alcanzando a 3.742 participantes con una calificación de satisfacción promedio de 4.7 de 5.

Programa educativo	Número de talleres	Participantes totales
Finanzas personales	67	1,984
Gestión de pequeñas empresas	38	1,126
Planificación de jubilación	21	632

Bank First Corporation (BFC) - Modelo de negocios: canales

Aplicación de banca móvil

Descargas de aplicaciones móviles de Bank First: 147,832 en 2023

Métricas de aplicaciones móviles	2023 datos
Usuarios activos totales	98,456
Transacciones mensuales	672,345
Valor de transacción promedio	$324.67

Sitio web de banca en línea

Tráfico del sitio web: 423,567 visitantes únicos mensualmente en 2023

• Tasa de apertura de la cuenta en línea: 3,245 nuevas cuentas por mes
• Volumen de transacciones del sitio web: 512,890 transacciones mensuales
• Duración promedio de la sesión: 7.2 minutos

Red de sucursales físicas en Wisconsin

Detalles de la rama	2023 estadísticas
Total de ramas	48
Visitantes de la rama diaria	1,276
Transacción promedio por rama	876

Centro de llamadas de servicio al cliente

Estadísticas del centro de llamadas para 2023:

• Volumen total de llamadas: 214,567 llamadas
• Tiempo de manejo promedio: 8.3 minutos
• Tasa de satisfacción del cliente: 92.4%

ATM Network y Asociaciones de cajeros automáticos de terceros

Métricas de redes de cajeros automáticos	2023 datos
Cajeros automáticos	76
Asociaciones de cajeros automáticos de terceros	342
Transacciones mensuales de cajeros automáticos	287,456
Valor total de transacción de cajero automático	$98,234,567

Bank First Corporation (BFC) - Modelo de negocio: segmentos de clientes

Empresas locales pequeñas a medianas

Bank First Corporation atiende a 3,247 cuentas comerciales activas pequeñas a medianas a partir del cuarto trimestre de 2023. Valor promedio de la cartera de préstamos comerciales: $ 42.6 millones. Desglose del segmento:

Tipo de negocio	Número de cuentas	Tamaño promedio del préstamo
Negocios minoristas	1,124	$215,000
Proveedores de servicios	892	$187,500
Fabricación	673	$329,000
Startups tecnológicas	558	$276,500

Clientes de banca minorista individual

Total de clientes de banca minorista: 87,563 a diciembre de 2023. Cliente profile:

• Rango de edad 25-45: 42% de la base de clientes
• Rango de edad 46-65: 38% de la base de clientes
• Usuarios de banca digital: 67,234 clientes
• Saldo promedio de la cuenta corriente: $ 4,327

Comunidad agrícola y agrícola

Detalles de la cartera de préstamos agrícolas:

Tipo de granja	Número de cuentas	Préstamos agrícolas totales
Granjas de cultivos	612	$ 87.3 millones
Granjas de ganado	284	$ 43.6 millones
Agricultura mixta	176	$ 29.4 millones

Proveedores de servicios profesionales

Desglose del segmento profesional:

• Profesionales legales: 1,245 cuentas
• Médicos: 1,087 cuentas
• Empresas de consultoría: 763 cuentas
• Valor de cuenta comercial profesional promedio: $ 275,000

Clientes de gestión de jubilación y patrimonio

Estadísticas de segmento de gestión de patrimonio:

Categoría de cliente	Número de clientes	Activos totales bajo administración
Individuos de alto patrimonio	1,876	$ 624.5 millones
Clientes de planificación de jubilación	4,329	$ 412.3 millones
Clientes de cartera de inversiones	3,647	$ 538.7 millones

Bank First Corporation (BFC) - Modelo de negocio: Estructura de costos

Mantenimiento de la infraestructura tecnológica

Costos de mantenimiento de infraestructura de tecnología anual para Bank First Corporation en 2024: $ 14.3 millones

Componente tecnológico	Costo anual
Sistemas bancarios centrales	$ 5.6 millones
Infraestructura de ciberseguridad	$ 3.9 millones
Servicios de computación en la nube	$ 2.8 millones
Sistemas de red y comunicación	$ 2 millones

Salarios y beneficios de los empleados

Gastos totales de compensación de empleados para 2024: $ 87.6 millones

Categoría de empleado	Compensación anual
Liderazgo ejecutivo	$ 12.4 millones
Personal de banca corporativa	$ 35.2 millones
Personal de banca minorista	$ 26.8 millones
Soporte y personal administrativo	$ 13.2 millones

Gastos de operación de rama

Costos de operación de sucursal total para 2024: $ 22.5 millones

• Costos de alquiler y ocupación: $ 9.7 millones
• Servicios públicos y mantenimiento: $ 4.3 millones
• Tecnología y equipo de sucursal: $ 5.2 millones
• Seguridad de la sucursal: $ 3.3 millones

Costos de cumplimiento regulatorio

Gastos de cumplimiento regulatorio total para 2024: $ 16.9 millones

Área de cumplimiento	Costo anual
Informes legales y regulatorios	$ 6.4 millones
Sistemas contra el lavado de dinero (AML)	$ 4.2 millones
Infraestructura de gestión de riesgos	$ 3.7 millones
Capacitación de cumplimiento	$ 2.6 millones

Gastos de marketing y adquisición de clientes

Presupuesto total de marketing y adquisición de clientes para 2024: $ 11.2 millones

• Campañas de marketing digital: $ 4.5 millones
• Publicidad tradicional: $ 3.1 millones
• Programas de adquisición de clientes: $ 2.6 millones
• Investigación de mercado: $ 1 millón

Bank First Corporation (BFC) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos e hipotecas

En 2023, Bank First Corporation generó $ 287.4 millones en ingresos por intereses de préstamos e hipotecas. El desglose de las carteras de préstamos es el siguiente:

Categoría de préstamo	Volumen total ($ M)	Ingresos de intereses ($ M)
Préstamos comerciales	1,245	98.6
Hipotecas residenciales	2,678	134.2
Préstamos al consumo	756	54.6

Tarifas de servicio bancario

Las tarifas de servicio bancario contribuyeron con $ 42.3 millones a los ingresos de BFC en 2023.

• Tarifas de mantenimiento de la cuenta: $ 18.7 millones
• Tarifas de transacción de cajeros automáticos: $ 9.6 millones
• Tarifas de sobregiro: $ 7.4 millones
• Tasas de transferencia de cables: $ 6.6 millones

Servicios de asesoramiento de gestión de patrimonio

Los servicios de gestión de patrimonio generaron $ 63.9 millones en 2023.

Categoría de servicio	Ingresos ($ M)
Planificación financiera	24.5
Aviso de inversión	39.4

Tarifas de transacción comerciales

Las tarifas de transacción comercial ascendieron a $ 22.7 millones en 2023.

• Procesamiento de tarjeta de crédito: $ 15.3 millones
• Procesamiento de la tarjeta de débito: $ 7.4 millones

Comisiones de productos de inversión

Las comisiones de productos de inversión alcanzaron $ 47.2 millones en 2023.

Producto de inversión	Comisiones ($ M)
Fondos mutuos	22.6
Cuentas de jubilación	14.8
Inversiones de bonos	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.