Bank First Corporation · NASDAQ:BFC
Bank First — Bank First National — Investor Presentation (June 2019)
19 slides from Bank First's investor presentation, Jun 7, 2019
Slide 1: Investor Presentation June 2019
INVESTOR PRESENTATION June 2019 TICKER: BFC (NASDAQ)
Slide 2: Safe Harbor Statement
Safe Harbor Statement FORWARD LOOKING STATEMENTS This presentation may contain “forward - looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 . These forward - looking statements reflect the Company’s current views with respect to, among other things, futur
Slide 3: BFC at-a-glance
BFC at - a - glance • Core franchise located in east - central Wisconsin - founded in 1894. • History of strong organic growth supplemented by the acquisition of Waupaca Bancorporation, Inc. (“Waupaca”) in October 2017 ($420MM in assets) and the pending acquisition of Partnership Community Bancshare
Slide 4: Promise, Culture, Vision
PROMISE, CULTURE, VISION OUR PROMISE : We are a relationship - based community bank focused on providing innovative products and services that are value driven . OUR CULTURE : Bank First’s culture celebrates diversity, creativity, and responsiveness, with the highest ethical standards . Employees ar
Slide 5: Bank First Asset Growth 1894-2018
BANK FIRST ASSET GROWTH 1894 - 2018 BankFirst = Zs $1,105,008, $2435 sie S778 52766 szgot_s736 smiges St8423 SUSSE 8 1894 1914 1924 1934 1944 1954 1964 1974 1984 1994 2004 2014 2018 Datanot avaiable for 1904 @&® BankFirst ‘
Slide 6: History of Robust, Balanced Loan and Deposit Growth
History of Robust, Balanced Loan and Deposit Growth PORTFOLIO LOANS $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Q1) Legacy offices Waupaca offices DEPOSITS $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 2011 2012 2013 2014 2015 2016 201
Slide 7: History of Solid, Consistent Earnings Per Share Growth
History of Solid, Consistent Earnings Per Share Growth EARNINGS PER SHARE (“EPS”) ($1.00) $0.00 $1.00 $2.00 $3.00 $4.00 Impact of Acquisition Costs Impact of Purchase Accounting Core EPS CORE EPS PERCENTAGE GROWTH (REMOVING ACQUISITION COSTS AND PURCHASE ACCOUNTING) 0% 5% 10% 15% 20% 25% * Annualize
Slide 8: History of Strong Asset Quality
History of Strong Asset Quality CLASSIFIED ASSETS TO RISK BASED CAPITAL 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Q1) Legacy Assets Purchased Assets NET LOAN CHARGE - OFFS TO TOTAL LOANS * Annualized based off of first quarter results -0.10% 0.00% 0.10%
Slide 9: Other Historical Financial Metrics
Other Historical Financial Metrics 0.50% 0.70% 0.90% 1.10% 1.30% 1.50% 1.70% 2011 2012 2013 2014 2015 2016 2017 2018 2019* Return on Assets 5.00% 7.00% 9.00% 11.00% 13.00% 15.00% 17.00% 2011 2012 2013 2014 2015 2016 2017 2018 2019* Return on Equity 45.00% 50.00% 55.00% 60.00% 65.00% 2011 2012 2013 2
Slide 10: Loan and Deposit Portfolio Composition
Loan and Deposit Portfolio Composition Loan Portfolio at March 31, 2019 C&I (20.5%) CRE - Owner Occ (28.8%) CRE - Investment (18.0%) 1-4 Family (25.7%) Other (7.0%) 9 Deposit Portfolio at March 31, 2019 Noninterest-bearing DDA (28.5%) Interest-bearing DDA (5.1%) Savings Accounts (14.3%) Money Market
Slide 11: Stock Performance (Total Return)
Stock Performance (Total Return) 0 100 200 300 400 500 600 1/1/2011 1/1/2012 1/1/2013 1/1/2014 1/1/2015 1/1/2016 1/1/2017 1/1/2018 1/1/2019 Value of $100 invested on January 1, 2011 BFC Russell 2000 SNL US Bank Index $495.19 $220.63 $213.94 Value at March 31, 2019 10
Slide 12: Efficient Network of Offices
Efficient Network of Offices Region Counties Branches Loans (3/31/2019) % of Total Loans Deposits (3/31/2019) % of Total Deposits Greater of Loans or Deposits per Office Greater of Loans or Deposits per FTE Central Manitowoc 6 $259,483,216 18.1% $584,166,561 37.1% $97,361,094 $11,309,553 Southern Sh
Slide 13: Acquisition of Waupaca Bancorporation, Inc. (October 2017)
Acquisition of Waupaca Bancorporation, Inc. (October 2017) • Waupaca Bancorporation, Inc. was the holding company for First National Bank, headquartered in Waupaca, Wisconsin and founded in 1885. • Deal consideration was $78.1 million, consisting of cash of $53.4 million and 653,523 shares of BFC co
Slide 14: Pending Acquisition of Partnership Community Bancshares, Inc. (July 2019)
Pending Acquisition of Partnership Community Bancshares, Inc. (July 2019) • Partnership Community Bancshares, Inc. is the holding company for Partnership Bank, headquartered in Cedarburg, Wisconsin. • Deal consideration was originally structured at $41.0 million, consisting of cash of $14.4 million
Slide 15: Investments in Strategic Affiliates – UFS LLC
Investments in Strategic Affiliates – UFS LLC $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 2011 2012 2013 2014 2015 2016 2017 2018 Bank First Revenue from UFS (pretax, in thousands) • UFS is a fin - tech technology provider, offering technology, compliance and security solutions purpose built for comm
Slide 16: Investments in Strategic Affiliates – Ansay & Associates, LLC
Investments in Strategic Affiliates – Ansay & Associates, LLC $0 $500 $1,000 $1,500 $2,000 $2,500 2011 2012 2013 2014 2015 2016 2017 2018 Bank First Revenue from Ansay (pretax, in thousands) • Ansay is an independent insurance agency, formed in 1946, which provides property and casualty insurance an
Slide 17: Senior management team
Senior management team MIKE MOLEPSKE KELLY FISCHER KEVIN LEMAHIEU Chief Executive Otficer Ciel Operating Officer Chief Financial Orficer JOAN WOLDT JASON KREPLINE DEBBIE WEYKER Executive Vice President Executive Vice President Vico President Regional President Senior Loan Officer Marketing MEGHANN K
Slide 18: Strategic highlights
Strategic highlights ▪ Strategic plan based around the CAMELS framework ▪ Continue to efficiently hold capital needed to fund strategic initiatives while avoiding excess capital to provide a consistent strong return for our shareholders ▪ Ensure the Bank’s historically strong credit culture is maint
Slide 19: Measures of success
Measures of success ▪ Indications that we have correctly implemented our strategic initiatives will include: ▪ Average annual earnings per share growth of 10% ▪ Average annual return on average assets in excess of 1.5% ▪ Assets per full - time equivalent employee in excess of $8 million ▪ Total risk
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