Bank First Corporation · NASDAQ:BFC
Bank First — Shareholder Meeting (June 2021)
38 slides from Bank First's shareholder meeting presentation, Jun 16, 2021
Slide 1: Housekeeping Items
House k eeping Items Open and close your control panel using the orange arrow . Audio Options : • Choose Computer audio to listen from your computer’s speakers • Choose Phone call and dial in using the phone number and pin provided in your registration confirmation email . Your Participation If you
Slide 2: Annual Shareholder Meeting June 14, 2021
ANNUAL SHAREHOLDER MEETING June 14, 2021
Slide 3: Michael Ansay, Chairman of the Board
MICHAEL ANSAY Chairman of the Board
Slide 4: Board of Directors
ee Board of Directors MICHAELMOLEDSKE —_ KATHERIE REYNOLDS ROBERT HOLMES DONALDBRIScH ROBERT GREGORSKI “4uDyHEUN MICHAEL ANSAY mano sae pecetnd Pumerinwiod eet fmayPescertnd —_fowttansPmnolet ce capate, at aan ie Srd ‘Qurmaanceo | otdanatcoparcton rican cP oropeneosae ——cegrasbmepmenetic Aceutngarta
Slide 5: Welcome Senior Management
WELCOME Senior Management €® BankFirst
Slide 6: Katherine M. Reynolds Thank You
Katherine M. Reynolds THANK YOU! • Congratulations on your Board retirement! • Director since 1992 • Integral part of Bank First’s growth, helping the bank navigate through 7 acquisitions and 8 de novo branch openings during her tenure • Founding member and chair of the Governance & Nominating Commi
Slide 7: Katherine M. Reynolds Thank You: Then and Now
Katherine M. Reynolds THANK YOU! Then Now Number of Offices 6 21 Total Assets $184.3 million $2.8 billion Total Loans $115.7 million $2.2 billion Total Deposits $154.0 million $2.4 billion Net Income $2.1 million $38.0 million
Slide 8: Phillip R. Maples Welcome
Phillip R. Maples WELCOME • Welcome to the Board of Directors! • Partner at Michael Best & Friedrich, LLP in Manitowoc • Over 28 years of experience assisting individuals with estate, wealth, and business succession planning, and helping businesses with corporate and real estate matters.
Slide 9: Quorum, Minutes, Business to be Conducted
• Determination of Quorum • Approval of Minutes • Business to be Conducted WELCOME
Slide 10: Proposal 1: Election of Directors
Election of Directors PROPOSAL 1 MARY - KAY H. BOURBULAS ROBERT D. GREGORSKI PHILLIP R. MAPLES PETER J. VAN SISTINE
Slide 11: Proposal 2: Ratify Independent Accounting Firm
Ratify the appointment of Dixon Hughes Goodman, LLP as the Corporation’s independent registered public accounting firm for the fiscal year ending December 31, 2021 PROPOSAL 2
Slide 12: Forward Looking Statements
Forward Looking Statements: This presentation may contain certain “forward looking statements” that represent Bank First Corporation’s expectations or beliefs concerning future events. Such forward looking statements are about matters that are inherently subject to risks and uncertainties. Because o
Slide 13: Mike Molepske, CEO & President
MIKE MOLEPSKE CEO & President
Slide 14: Welcome: Topics Overview
• Asset Growth • Stock Performance Graph • Awards • Financial Report • COVID - 19 • Mortgage Volume • Customer Experience Initiative • Facilities • Dividend Reinvestment Plan WELCOME
Slide 15: Bank First Asset Growth
$688,064 $720,503 $794,128 $838,754 $831,579 $910,028 $1,020,426 $1,060,887 $1,105,008 $1,237,675 $1,315,997 $1,753,404 $1,793,165 $2,210,168 $2,718,016 $2,846,199 - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2
Slide 16: Stock Performance (Total Return)
STOCK PERFORMANCE (Total Return) $0 $100 $200 $300 $400 $500 $600 Value of $100 invested on June 1, 2011 (10 year) BFC Russell 2000 S&P Regional Banking ETF $588.43 $276.33 $274.00
Slide 17: Bank First Awards
BANK FIRST AWARDS Bank First was one of 16 banking institutions across the United States to be recognized with this honor . The Honor Roll recognizes banks that consistently deliver exceptional growth. This is the third year in a row Bank First has been named to the honor roll. KBW Honor Roll Raymon
Slide 18: Financial Report
FINANCIAL REPORT @® BankFirst
Slide 19: Balanced Loan Growth, Organic and Through Acquisitions
FINANCIAL REPORT Balanced Loan Growth, Organic and Through Acquisitions (dollars in millions) PORTFOLIO LOANS $0 $500 $1,000 $1,500 $2,000 $2,500 Organic Loans Acquired Loans SECONDARY MARKET LOANS $0 $150 $300 $450 $600 $750 Organic Loans Acquired Loans
Slide 20: Strong Core Deposit Base
FINANCIAL REPORT Strong Core Deposit Base (dollars in millions) $0 $500 $1,000 $1,500 $2,000 $2,500 2015 2016 2017 2018 2019 2020 May-21 Noninterest Bearing Savings Money Market Time Deposits 18% 29% 26% 27% 27% 27% 33% 16% 25% 26% 21% 15% 12% 39% 15% 28% 40% 15% 29% 17% 29% 19% 29% 26% 26% 27% 31%
Slide 21: Dividends Per Share and Earnings Per Share
FINANCIAL REPORT Dividends Per Share $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 $0.80 $0.90 2015 2016 2017 2018 2019 2020 2021* * Annualized based on the first two quarters of 2021 ($1.00) $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 2015 2016 2017 2018 2019 2020 Impact of Paycheck Protection Program Im
Slide 22: COVID-19
COVID-19 © BankFirst
Slide 23: COVID - Paycheck Protection Program
COVID - 19 Paycheck Protection Program • At a time when many of the big banks and non - SBA community banks and credit unions choose not to participate in the program, Bank First took an “all hands on deck” approach to serve our customers as well as other businesses in our community that were not ge
Slide 24: COVID - Impact on Financial Performance
COVID - 19 Impac t on Financial Performance Consolidated YTD Net Income as of December 31 • Bank First’s ability to aggressively manage its cost of funds throughout the downturn in the overall interest rate environment has allowed it to experience only 0 . 02 % deterioration in NIM year - over - yea
Slide 25: COVID - Bank First's Keys to Success
COVID - 19 Bank First’s Keys to Success • Value Driven : Employees working on the Paycheck Protection Program and retail loans have worked many nights, weekends, and holidays to process applications . • Nimble : Due to our size, we are able to act quickly in response to change . We redeployed over 7
Slide 26: Mortgage Volume
MORTGAGE VOLUME @® BankFirst
Slide 27: Mortgage Volume: Secondary Market Loan Originations
MORTGAGE VOLUME Secondary Market Loan Originations Year - Over - Year Comparison $85,861,094 $54,196,707 $39,916,670 $113,677,351 $307,328,174 $0 $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 $300,000,000 $350,000,000 2016 2017 2018 2019 2020 538 329 221 597 1,621
Slide 28: Mortgage Volume: First Quarter Originations
MORTGAGE VOLUME Secondary Market Loan Originations First Quarter Year - Over - Year Comparison $13,266,128 $14,036,286 $8,799,465 $8,573,284 $36,054,884 $115,538,194 $0 $20,000,000 $40,000,000 $60,000,000 $80,000,000 $100,000,000 $120,000,000 $140,000,000 2016 2017 2018 2019 2020 2021 87 80 45 45 18
Slide 29: Customer Experience
CUSTOMER EXPERIENCE €® BankFirst
Slide 30: Customer Experience Mission
CUSTOMER EXPERIENCE Our Mission: To deliver a world - class, consistent customer experience in our offices and all customer touch points as we grow. Where do we start? Establish a diverse team of employees from throughout our geographic footprint including our frontline, operations and trainers to g
Slide 31: Customer Experience: G.U.E.S.T. Culture
CUSTOMER EXPERIENCE • We chose G.U.E.S.T. as our foundation to teach our cu lture . • We share and celebrate customer letters and compliments to increase engagement, strengthen positive behaviors and share best practices. • We also ask our customers th rough customer satisfaction surveys for feedbac
Slide 32: Customer Experience: Net Promoter Score
CUSTOMER EXPERIENCE • Since June of 2020, our marketing department launched weekly surveys to 5,457 people who opened a new checking account. We had 598 responses (11%). • Bank First Net Promoter Score of 82 • Our Opportunity: Grow our existing relationships, ask for referrals and learn from our cus
Slide 33: Facilities
FACILITIES &® BankFirst
Slide 34: Facilities: Projects Recently Completed
FACILITIES LOCATION PROJECT DESCRIPTION CEDARBURG • INTERIOR COMPLETE WAUPACA • EXTERIOR & INTERIOR COMPLETE TOMAH • INTERIOR COMPLETE Projects recently completed Cedarburg Tomah Waupaca
Slide 35: Facilities: Current and Upcoming Projects
FACILITIES LOCATION PROJECT DESCRIPTION CLINTONVILLE • EXTERIOR & INTERIOR UPDATES SEYMOUR • INTERIOR UPDATES WATERTOWN • INTERIOR UPDATES OPERATIONS CENTER • SITE PURCHASED IN MANITOWOC, PROJECT OUT FOR BID GREEN BAY • OFFERS TO PURCHASE MADE ON TWO DIFFERENT PROPERTIES Current and upcoming project
Slide 36: Dividend Reinvestment Plan
DIVIDEND REINVESTMENT PLAN €® BankFirst
Slide 37: DRIP
DRIP Bank First has a Dividend Reinvestment Plan (DRIP). The Plan is designed to provide you with a convenient, cost - effective method to manage your investment in Bank First Corporation’s stock. If you are a registered shareholder, you can reinvest your cash dividends as well as purchase shares of
Slide 38: Comments and Questions
COMMENTS and QUESTIONS