Bank First Corporation · NASDAQ:BFC
Bank First — Shareholder Meeting (June 2026)
28 slides from Bank First's shareholder meeting presentation, Jun 18, 2026
Slide 1: Annual Shareholder Meeting June 15, 2026
ANNUAL SHAREHOLDER MEETING June 15, 2026
Slide 2: Forward Looking Statements
Forward Looking Statements: This presentation may contain certain “forward-looking statements” representing Bank First Corporation’s expectations or beliefs concerning future events. Such forward-looking statements are about matters inherently subject to risks and uncertainties. Because of the risks
Slide 3: Welcome
Mike Molepske Chairman of the Board & Chief Executive Officer 3 WELCOME Newl Appointed
Slide 4: Board of Directors
Newly Appointed Newly Appointed 4 BOARD OF DIRECTORS Erin Davis Chief Executive Officer of Quality Roasting, Inc. Mary-Kay Bourbulas Co-Owner, Founder and Manager of Handen Distillery Steven Eldred Retired Chairman and Chief Executive Officer of Centre 1 Bancorp, Inc. Daniel "Skip" McConeghy Vice Pr
Slide 5: Stephen Johnson, Retiring Director
5 Stephen Johnson RETIRING DIRECTOR • Director of Bank First since 2019, with prior service as Market President and CRA Officer at Bank First • Served on the Audit, Compensation, Governance and Nominating, Loan, and CRA Committees • Brought a thoughtful perspective on risk, compliance, lending, and
Slide 6: Senior Management
Newly Appointed 6 SENIOR MANAGEMENT Debbie Weyker SVP Marketing Michael Molepske Chief Executive Officer and Chairman of the Board Jason Krepline Chief Lending Officer Timothy McFarlane President Kevin LeMahieu Chief Financial Officer Meghann Kasper Chief Credit Officer Sharol Schroeder SVP Human Re
Slide 7: Special Guests
7 SPECIAL GUESTS Mark Kanaly Partner, Alston & Bird, LLP Sarah Saunders Partner, Fovis Mazars
Slide 8: Meeting Business
• Determination of Quorum • Approval of Minutes • Business to be Conducted 8 MEETING BUSINESS
Slide 9: Proposal 1: Election of Directors
To elect three (3) directors of the Company, each for three-year terms and in each case until their successors are elected and qualified. 9 PROPOSAL 1 Steven Eldred Retired Chairman and Chief Executive Officer of Centre 1 Bancorp, Inc. Todd Sprang Certified Public Accountant, Retired Principal of Cl
Slide 10: Proposals 2 and 3: Auditor Ratification and Executive Compensation
10 To ratify the appointment of FORVIS MAZARS, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026. PROPOSAL 2 To approve the compensation of the Company’s named executive officers through an advisory vote. PROPOSAL 3
Slide 11: Proposals 4 and 5: Articles Amendment and Other Business
11 To approve an amendment to the Company’s Restated Articles of Incorporation to modify shareholder approval requirements for certain fundamental transactions. PROPOSAL 4 To transact such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof. PRO
Slide 12: Financial Report
Kevin LeMahieu Chief Financial Officer 12 FINANCIAL REPORT
Slide 13: Annual Earnings Per Share (Previous 10 Years)
13 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Compounded annual growth rate: 10 year = 13.0% 5 year = 7.4% ANNUAL EARNINGS PER SHARE (PREVIOUS 10 YEARS)
Slide 14: Strong Core Deposit Base
14 STRONG CORE DEPOSIT BASE (DOLLARS IN MILLIONS) $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 $5,500 2020 2021 2022 2023 2024 2025 Mar-26 Noninterest Bearing Time Deposits Other Interest Bearing 55% 58% 56% 52% 55% 54% 30% 27% 18% 55% 14% 31% 10% 32% 14% 30% 17% 31% 17% 28
Slide 15: Asset Growth
15 ASSET GROWTH (DOLLARS IN MILLIONS) $1,316 $1,753 $1,793 $2,210 $2,718 $2,938 $3,660 $4,222 $4,495 $4,506 $6,069 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 3/31/2026 Waupaca Bancorporation, Inc. ($347 million) Partnership Community Bancshares, Inc. ($308 million) Tomah Bancshares, Inc. ($21
Slide 16: Dividends Per Share
16 DIVIDENDS PER SHARE *Assumes dividends for the third and fourth quarters of 2026 equal the dividend declared for the second quarter ($0.55). $0.10 $1.10 $2.10 $3.10 $4.10 $5.10 $6.10 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026* One-time $0.29 special dividend One-time $3.50 special dividend
Slide 17: Stock Performance (Total Return)
17 STOCK PERFORMANCE (Total Return) $0 $100 $200 $300 $400 $500 $600 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025 5/31/2026 Value of $100 invested on June 1, 2016 (10 year) BFC Russell 2000 S&P Regional Banking ETF $576.42 $252.08 $209.04 10 yr.
Slide 18: Mergers
Tim McFarlane President 18 MERGERS
Slide 19: Strategic Growth: First National Bank and Trust Merger Overview
19 STRATEGIC GROWTH • Announced merger on July 18, 2025 • Legal close completed January 1, 2026 • Systems conversion completed May 18, 2026 What this means: • Combined two relationship-focused community banks with shared values and culture • Expanded our presence across South-Central Wisconsin and N
Slide 20: Strategic Growth: Peoples State Bank Merger Overview
20 STRATEGIC GROWTH Peoples State Bank Merger Overview • Announced merger on May 19, 2026 • Pending regulatory and shareholder approvals • Close and conversion planned for December 4, 2026 What this means: • Brings together two relationship-focused banks • Expanded presence into North Central Wiscon
Slide 21: Strategic Growth: Peoples State Bank
21 STRATEGIC GROWTH Peoples State Bank Financially attractive • Projected Earnings Per Share accretion of 14.2% in 2027 and 12.0% in 2028 • Minimal Tangible Book Value dilution (~1.0%) with rapid earn back (~0.25 year) • Projected Internal Rate Return of 18%+, exceeding internal targets • Strengthen
Slide 22: Facilities
Mike Molepske Chairman of the Board & Chief Executive Officer 22 FACILIITIES
Slide 23: Facilities That Shape Experience
23 Modern, accessible, and brand-aligned spaces are designed to provide an exceptional customer and employee experience. FACILITIES THAT SHAPE EXPERIENCE • Redeveloped existing site for improved flow and comfort • Currently completing final touches to the exterior, including community benches • Comp
Slide 24: Continuing Our Investment
CONTINUING OUR INVESTMENT 24 POYNETTE Anticipated Completion: November 2026 Interior remodel, exterior enhancements PARDEEVILLE Anticipated Completion: October 2026 Interior remodel Recent updates reflect our commitment to welcoming, functional spaces for customers and employees.
Slide 25: Building for the Future
BUILDING FOR THE FUTURE 25 WALWORTH Anticipated Completion: Q2 2027 Construction of a new branch on the existing site FUTURE PROJECTS • Delavan/Darien: early research and design stages to construct a new branch • Monroe: evaluating redevelopment of existing site • Rockton: considering sites for deve
Slide 26: Questions / Comments
26 QUESTIONS / COMMENTS
Slide 27: Shareholder Services Team
27 SHAREHOLDER SERVICES TEAM Please reach out to Bank First Shareholder Services at shareholderservices@bankfirst.com or 920-652-3360. Our dedicated team will be able to assist with any questions or concerns you may have. Business cards are available at the entrance.
Slide 28: Bank First Corporation
BankFirst CORPORATION