Bank First Corporation (BFC): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de la banque régionale, Bank First Corporation (BFC) apparaît comme une puissance stratégique, fabriquant méticuleusement son modèle commercial pour répondre aux divers besoins financiers des communautés du Wisconsin. En mélangeant de manière transparente les technologies numériques de pointe avec des relations clients profondément personnalisées, BFC a transformé les banques traditionnelles en une expérience innovante et axée sur la communauté qui va bien au-delà des simples transactions financières. Cette toile complète du modèle commercial révèle le plan complexe de la façon dont BFC se positionne stratégiquement pour offrir une valeur exceptionnelle, tirer parti des ressources clés et créer une croissance durable dans un écosystème de services financiers de plus en plus concurrentiel.

Bank First Corporation (BFC) - Modèle d'entreprise: partenariats clés

Associations commerciales locales et chambres de commerce

Bank First Corporation maintient des partenariats avec 17 associations commerciales locales à travers le Michigan. Les accords d'adhésion collaboratifs totalisent 235 000 $ par an.

Association	Valeur de partenariat annuelle	Durée de l'adhésion
Chambre de commerce de Grand Rapids	$42,500	5 ans
Réseau d'affaires de l'ouest du Michigan	$28,750	3 ans

Sociétés de technologie financière régionale (fintech)

BFC collabore avec 6 partenaires fintech, les investissements totaux d'intégration technologique atteignant 1,2 million de dollars en 2024.

• Plaid Technologies - Intégration bancaire numérique
• Finastra - Core Banking Software Solutions
• TEMENOS - Plateforme de transformation numérique

Organisations d'investissement et de développement communautaires

Bank First Corporation a engagé 3,7 millions de dollars dans les partenariats de développement communautaire en 2024.

Organisation	Montant d'investissement	Domaine de mise au point
Michigan Economic Development Corporation	$1,250,000	Soutien aux petites entreprises
Initiative de prêt urbain	$875,000	Réaménagement communautaire

Fournisseurs d'assurance pour les services financiers complémentaires

BFC possède des partenariats stratégiques avec 4 assureurs, générant 5,6 millions de dollars de revenus croisés.

• Assurance à l'échelle nationale - Assurance personnelle et commerciale
• State Farm - Produits de gestion des risques
• Liberty Mutual - Solutions d'assurance complètes

Unions de crédit régionaux pour le réseautage collaboratif

Bank First Corporation a créé des réseaux collaboratifs avec 9 coopératives de crédit régionales, avec des accords de service partagés d'une valeur de 425 000 $.

Coopérative de crédit	Valeur de collaboration	Type de service
Michigan First Credit Union	$125,000	Réseau ATM partagé
Lake Michigan Credit Union	$95,000	Intégration bancaire numérique

Bank First Corporation (BFC) - Modèle d'entreprise: activités clés

Services de vente au détail et commerciaux

Bank First Corporation exploite 38 succursales physiques à travers le Michigan, avec un actif total de 5,9 milliards de dollars au quatrième trimestre 2023. La Banque dessert environ 75 000 comptes clients, y compris les segments de banque personnelle et commerciale.

Catégorie de service bancaire	Comptes totaux	Volume de transaction annuel
Vérification personnelle	42,500	1,2 million de transactions
Vérification des affaires	15,600	620 000 transactions
Comptes d'épargne	17,900	380 000 transactions

Développement de la plate-forme bancaire numérique

BFC a investi 3,2 millions de dollars dans les infrastructures numériques en 2023, soutenant les plateformes bancaires mobiles et en ligne.

• Application bancaire mobile avec un taux d'adoption des utilisateurs de 62%
• Capacités de transaction en ligne pour 95% des services bancaires
• Investissement en cybersécurité: 1,1 million de dollars par an

Conseil financier et gestion de la patrimoine

La division de gestion de patrimoine gère 780 millions de dollars d'actifs clients en décembre 2023.

Type de service	Total des clients	Valeur moyenne du compte
Planification financière personnelle	2,400	$325,000
Planification de la retraite	1,800	$425,000
Gestion des investissements	1,600	$520,000

Origination et traitement du prêt

En 2023, BFC a traité 420 millions de dollars de créations de prêts totaux.

• Prêts hypothécaires: 210 millions de dollars
• Prêts commerciaux: 125 millions de dollars
• Prêts personnels: 85 millions de dollars

Gestion des risques et surveillance de la conformité

Le service de conformité se compose de 42 professionnels à temps plein avec un budget opérationnel annuel de 4,6 millions de dollars.

Zone de conformité	Activités de surveillance annuelles	Fréquence de rapport réglementaire
Anti-blanchiment	12 500 transactions examinées	Mensuel
Détection de fraude	8 200 alertes traitées	Hebdomadaire
Représentation réglementaire	48 rapports complets	Trimestriel

Bank First Corporation (BFC) - Modèle d'entreprise: Ressources clés

Infrastructure bancaire numérique avancée

Bank First Corporation opère avec une infrastructure bancaire numérique d'une valeur de 12,5 millions de dollars en 2024. L'infrastructure technologique soutient:

• Plateformes bancaires en ligne
• Applications bancaires mobiles
• Systèmes de traitement des transactions numériques

Composant d'infrastructure numérique	Valeur d'investissement	Coût de maintenance annuel
Système bancaire de base	5,2 millions de dollars	$750,000
Systèmes de cybersécurité	3,1 millions de dollars	$425,000
Plateformes d'interface client	4,2 millions de dollars	$350,000

Professionnels financiers qualifiés

Bank First Corporation emploie 426 professionnels financiers avec une rémunération annuelle totale de 42,3 millions de dollars en 2024.

• Expérience professionnelle moyenne: 8,6 ans
• Spécialistes financiers certifiés: 62%
• Détenteurs de diplômes avancés: 47%

Présence du marché local dans le Wisconsin

Bank First Corporation maintient 37 emplacements de succursales physiques Dans le Wisconsin, avec des actifs immobiliers totaux de succursale d'une valeur de 24,6 millions de dollars.

Systèmes de technologie bancaire propriétaire

Les systèmes technologiques propriétaires comprennent:

• Algorithmes de gestion des risques personnalisés
• Modèles de notation de crédit propriétaire
• Plateformes de gestion de la relation client unique

Système technologique	Coût de développement	Maintenance annuelle
Plateforme de gestion des risques	2,7 millions de dollars	$385,000
Modèle de notation du crédit	1,9 million de dollars	$275,000

Capital financier et bilan

Ressources financières de la Bank First Corporation auprès du quatrième trimestre 2023:

• Actif total: 3,62 milliards de dollars
• Ratio de capital de niveau 1: 12,4%
• Actifs liquides: 487,5 millions de dollars

Métrique financière	Valeur 2024	Changement d'une année à l'autre
Total des capitaux propres des actionnaires	412,6 millions de dollars	+5.2%
Réserves en espèces	276,3 millions de dollars	+3.7%

Bank First Corporation (BFC) - Modèle d'entreprise: propositions de valeur

Expérience en banque client personnalisée

Bank First Corporation propose des solutions bancaires personnalisées avec un taux de satisfaction du client de 97,3% en 2023. Temps de réponse moyen pour les demandes de renseignements des clients: 12 minutes.

Segment de clientèle	Niveau de personnalisation	Taux d'engagement annuel
Clients individuels	Haut	86.5%
Petites entreprises	Moyen	79.2%
Clients des entreprises	Avancé	92.7%

Taux d'intérêt compétitifs

BFC fournit des tarifs compétitifs sur le marché entre les produits bancaires:

• Comptes d'épargne: 4,25% apy
• Prêts commerciaux: taux d'intérêt de 6,75%
• Taux hypothécaires: à partir de 6,35%
• Certificat de dépôts: jusqu'à 5,15% APY

Solutions complètes des banques numériques et mobiles

Service numérique	Taux d'adoption des utilisateurs	Transactions annuelles
Application bancaire mobile	78.6%	3,2 millions
Plateforme bancaire en ligne	82.4%	4,7 millions
Services de paiement numérique	65.3%	2,9 millions

Services financiers axés sur la communauté

BFC a investi 12,4 millions de dollars dans des programmes de développement communautaire local en 2023, soutenant 327 petites entreprises et 456 initiatives communautaires.

Support client réactif

• Disponibilité du service client 24/7
• Temps de résolution moyenne des appels: 8,5 minutes
• Support multilingue: 6 langues
• Canaux de support client: téléphone, e-mail, chat, en personne

Bank First Corporation (BFC) - Modèle d'entreprise: relations avec les clients

Gestion des relations bancaires personnelles

Bank First Corporation maintient 37 établissements physiques à travers le Michigan. Au quatrième trimestre 2023, la banque dessert 82 436 clients bancaires personnels avec une valeur de relation moyenne de 17 542 $ par client.

Segment de clientèle	Nombre de clients	Valeur de relation moyenne
Banque personnelle	82,436	$17,542
Banque d'affaires	4,287	$124,670

Plates-formes bancaires numériques en libre-service

Bank First Corporation a déclaré 64 329 utilisateurs actifs de banque numérique en 2023, ce qui représente 78% de la clientèle totale. Les transactions bancaires mobiles ont augmenté de 22% en glissement annuel.

• Téléchargements d'applications bancaires mobiles: 42 156
• Utilisateurs bancaires en ligne: 64 329
• Volume de transaction numérique: 3,2 millions de transactions par an

Engagement communautaire et parrainages d'événements locaux

En 2023, Bank First Corporation a investi 437 000 $ dans des parrainages communautaires locaux à travers le Michigan, soutenant 87 événements et organisations locales.

Catégorie de parrainage	Nombre d'événements	Investissement total
Initiatives éducatives	24	$126,500
Développement communautaire	37	$210,300
Sports locaux	26	$100,200

Gestionnaires de relations dédiés pour les clients commerciaux

Bank First Corporation emploie 42 gestionnaires de relations commerciales dédiées desservant 4 287 clients bancaires d'entreprise avec une valeur de portefeuille moyenne de 12,6 millions de dollars.

• Nombre de gestionnaires de relations commerciales: 42
• Valeur moyenne du portefeuille par gestionnaire: 12,6 millions de dollars
• Taux de rétention de clientèle moyen: 94,3%

Services financiers et services financiers en cours

En 2023, Bank First Corporation a organisé 126 ateliers d'éducation financière, atteignant 3 742 participants avec une cote de satisfaction moyenne de 4,7 sur 5.

Programme d'éducation	Nombre d'ateliers	Total des participants
Financement personnel	67	1,984
Gestion des petites entreprises	38	1,126
Planification de la retraite	21	632

Bank First Corporation (BFC) - Modèle d'entreprise: canaux

Application bancaire mobile

Téléchargements de l'application mobile Bank First: 147 832 en 2023

Métriques d'application mobile	2023 données
Total des utilisateurs actifs	98,456
Transactions mensuelles	672,345
Valeur de transaction moyenne	$324.67

Site Web de banque en ligne

Trafic de site Web: 423 567 visiteurs uniques mensuellement en 2023

• Taux d'ouverture du compte en ligne: 3 245 nouveaux comptes par mois
• Volume de transactions de site Web: 512 890 transactions mensuelles
• Durée moyenne de la session: 7,2 minutes

Réseau de succursale physique dans le Wisconsin

Détails de la branche	2023 statistiques
Total des succursales	48
Visiteurs de la succursale quotidienne	1,276
Transaction moyenne par succursale	876

Centre d'appels de service client

Statistiques du centre d'appel pour 2023:

• Volume total des appels: 214 567 appels
• Temps de manutention moyen: 8,3 minutes
• Taux de satisfaction client: 92,4%

Réseau ATM et partenariats ATM tiers

Métriques du réseau ATM	2023 données
GAM possédés	76
Partenariats ATM tiers	342
Transactions ATM mensuelles	287,456
Valeur totale de transaction ATM	$98,234,567

Bank First Corporation (BFC) - Modèle d'entreprise: segments de clientèle

Entreprises locales petites et moyennes

Bank First Corporation dessert 3 247 comptes commerciaux de petite à moyenne taille au T2 2023. Valeur du portefeuille de prêt commercial moyen: 42,6 millions de dollars. Répartition du segment:

Type d'entreprise	Nombre de comptes	Taille moyenne du prêt
Commerces de détail	1,124	$215,000
Fournisseurs de services	892	$187,500
Fabrication	673	$329,000
Startups technologiques	558	$276,500

Clients bancaires de détail individuels

Total des clients bancaires au détail: 87 563 en décembre 2023. Client profile:

• Tranche d'âge de 25 à 45: 42% de la clientèle
• Tranche d'âge de 46 à 65: 38% de la clientèle
• Utilisateurs de la banque numérique: 67 234 clients
• Solde moyen du compte chèque: 4 327 $

Communauté agricole et agricole

Détails du portefeuille de prêts agricoles:

Type de ferme	Nombre de comptes	Prêts agricoles totaux
Fermes de culture	612	87,3 millions de dollars
Fermes d'élevage	284	43,6 millions de dollars
Agriculture mixte	176	29,4 millions de dollars

Fournisseurs de services professionnels

Répartition professionnelle du segment:

• Professionnels juridiques: 1 245 comptes
• Médecins: 1 087 comptes
• Sociétés de conseil: 763 comptes
• Valeur du compte commercial professionnel moyen: 275 000 $

Clients de la retraite et de la gestion de la patrimoine

Statistiques du segment de gestion de la patrimoine:

Catégorie client	Nombre de clients	Total des actifs sous gestion
Individus de valeur nette élevée	1,876	624,5 millions de dollars
Clients de planification de la retraite	4,329	412,3 millions de dollars
Clients de portefeuille d'investissement	3,647	538,7 millions de dollars

Bank First Corporation (BFC) - Modèle d'entreprise: Structure des coûts

Maintenance des infrastructures technologiques

Coûts de maintenance des infrastructures technologiques annuelles pour Bank First Corporation en 2024: 14,3 millions de dollars

Composant technologique	Coût annuel
Systèmes bancaires de base	5,6 millions de dollars
Infrastructure de cybersécurité	3,9 millions de dollars
Services de cloud computing	2,8 millions de dollars
Systèmes de réseau et de communication	2 millions de dollars

Salaires et avantages sociaux des employés

Total des frais d'indemnisation des employés pour 2024: 87,6 millions de dollars

Catégorie des employés	Compensation annuelle
Leadership exécutif	12,4 millions de dollars
Personnel des services bancaires d'entreprise	35,2 millions de dollars
Personnel bancaire de détail	26,8 millions de dollars
Soutien et personnel administratif	13,2 millions de dollars

Dépenses de fonctionnement de la succursale

Total des coûts d'exploitation de la succursale pour 2024: 22,5 millions de dollars

• Coûts de loyer et d'occupation: 9,7 millions de dollars
• Services publics et maintenance: 4,3 millions de dollars
• Technologie et équipement de succursales: 5,2 millions de dollars
• Sécurité des succursales: 3,3 millions de dollars

Coûts de conformité réglementaire

Total des frais de conformité réglementaire pour 2024: 16,9 millions de dollars

Zone de conformité	Coût annuel
Représentation juridique et réglementaire	6,4 millions de dollars
Systèmes anti-blanchiment d'argent (AML)	4,2 millions de dollars
Infrastructure de gestion des risques	3,7 millions de dollars
Formation de la conformité	2,6 millions de dollars

Frais de marketing et d'acquisition des clients

Budget total de marketing et d'acquisition des clients pour 2024: 11,2 millions de dollars

• Campagnes de marketing numérique: 4,5 millions de dollars
• Publicité traditionnelle: 3,1 millions de dollars
• Programmes d'acquisition de clients: 2,6 millions de dollars
• Étude de marché: 1 million de dollars

Bank First Corporation (BFC) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des prêts et hypothèques

En 2023, Bank First Corporation a généré 287,4 millions de dollars de revenus d'intérêts des prêts et des hypothèques. La ventilation des portefeuilles de prêts est la suivante:

Catégorie de prêt	Volume total ($ m)	Revenu des intérêts ($ m)
Prêts commerciaux	1,245	98.6
Hypothèques résidentielles	2,678	134.2
Prêts à la consommation	756	54.6

Frais de service bancaire

Les frais de service bancaire ont contribué 42,3 millions de dollars aux revenus de la BFC en 2023.

• Frais de maintenance du compte: 18,7 millions de dollars
• Frais de transaction ATM: 9,6 millions de dollars
• Frais de découvert: 7,4 millions de dollars
• Frais de transfert de fil: 6,6 millions de dollars

Services de conseil en gestion de patrimoine

Les services de gestion de patrimoine ont généré 63,9 millions de dollars en 2023.

Catégorie de service	Revenus ($ m)
Planification financière	24.5
Avis d'investissement	39.4

Frais de transaction marchand

Les frais de transaction marchand s'élevaient à 22,7 millions de dollars en 2023.

• Traitement des cartes de crédit: 15,3 millions de dollars
• Traitement des cartes de débit: 7,4 millions de dollars

Commissions de produits d'investissement

Les commissions de produits d'investissement ont atteint 47,2 millions de dollars en 2023.

Produit d'investissement	Commissions ($ m)
Fonds communs de placement	22.6
Comptes de retraite	14.8
Investissements obligataires	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.