Bank First Corporation · NASDAQ:BFC
Bank First — Corporate Update (April 2020)
33 slides from Bank First's corporate update, Apr 21, 2020
Slide 1: Bank First Corporation COVID-19 Pandemic Response
BANK FIRST CORPORATION COVID - 19 Pandemic Response April 21, 2020 www.BankFirstWI.bank Ticker: BFC
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation includes "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 19 95. Such statements include, but are not limited to, statements concerning future business, revenue and earnings. These statement s a re not historic
Slide 3: Bank First's Preparedness & Response
Bank First’s Preparedness & Response ▪ Active monitoring of flu season and COVID - 19 in Asia. ▪ Management begins meeting to review and discuss Pandemic Flu Plan. ▪ Management reviews Business Continuity Plan and discusses crisis management actions. ▪ Initial order of masks placed as a precaution.
Slide 4: Pandemic Committee
Pandemic Committee Name Title Mike Molepske Chief Executive Officer Mike Dempsey President Kelly Fischer Chief Operating Officer Meghann Kasper Chief Credit Officer Kevin LeMahieu Chief Financial Officer Jeff Zimmerlee Chief Retail Officer Kelly Dvorak General Counsel Sherry Jonet Vice President – H
Slide 5: Branch Accessibility During Pandemic
Branch Accessibility During Pandemic Office March 24, 2020 Lobby March 24, 2020 Drive - Thru April 14, 2020 Lobby April 14, 2020 Drive - Thru Appleton Appointment Only Open – Normal Hours CLOSED CLOSED Ashwaubenon Appointment Only Open – Normal Hours CLOSED CLOSED Bellevue Appointment Only Open – No
Slide 6: Operational Preparedness & Response
Operational Preparedness & Response We began stress testing departments and essential functions in mid - March to determine how each area would be impacted by employees working from home . The testing was overall successful, with no technological concerns noted . In mid - March, key operating functi
Slide 7: Operational Preparedness & Response
Operational Preparedness & Response ▪ Bank First had 120 users that could work remotely prior to the COVID - 19 pandemic, including key employees . ▪ 170 employees have VPN access to utilize check - out laptops in case of an emergency situation . ▪ Bank First already utilized GoToMeeting and GoToWeb
Slide 8: Operational Preparedness & Response: Retail Loan Operations
Operational Preparedness & Response RETAIL LOAN OPERATIONS Rate Locks Coming Due Due to the low interest rate environment, Bank First has experienced record purchase/refinance volumes. The above chart reflects the number of rate locks coming due April – June 2020, compared to the same period last ye
Slide 9: Operational Preparedness & Response: Commercial Loan Operations
Operational Preparedness & Response ▪ A dedicated team of Administrative Assistants and Processors have been assigned to prepare loan documents and process deferral requests to expedite the process of moving them through the system to help customers in financial distress/uncertainty . ▪ Over 50 empl
Slide 10: Operational Preparedness & Response: Branch Operations
Regularly scheduled training done via webinar format Operational Preparedness & Response BRANCH OPERATIONS > > > > > > Travel restricted among branches Gloves, masks, hand sanitizer, wipes, and antibacterial spray provided to each office Teller/CSR group working on updating customer information in t
Slide 11: Operational Preparedness & Response: Facilities
• Courier routes reduced to one visit per office per week. Loan files with wet signatures are being mailed overnight to avoid issues with selling deadlines. • Customer courier deposit pickup service has been reduced to one day per week. • New building projects delayed to continue social distancing.
Slide 12: Employee Protection & Assistance
" We have a social responsibility and federal mandate to serve our customers and communities. Doing so while ensuring the health, safety, and financial well - being of our employees is a top priority." - Mike Molepske, CEO and President EMPLOYEES ARE OUR BIGGEST ASSET Employee Protection & Assistanc
Slide 13: Employee Protection & Assistance
Humana, our insurance provider, announced that they will be waiving out - of - pocket costs associated with testing for COVID - 19 for patients who meet CDC guidelines at approved laboratory locations. Additionally, Humana will be waiving the cost of telemedic ine for urgent care. To encourage our e
Slide 14: Employee Assistance
Employees have the ability to work from home (VPN). 155 Laptops previously deployed. 35 Additional laptops deployed due to COVID. EMPLOYEE ASSISTANCE Employee Protection & Assistance 170 Employees periodically in/out due to childcare needs. 13 14 Employees were out for symptoms/self - quarantining t
Slide 15: Employee Protection & Assistance
All employees are encouraged each year to get a flu shot. Bank First reimburses up to $25 if there is a cost involved. Tissue boxes and face masks sent to each office. Medical gloves and additional hand sanitizer ordered for each office. Offices educated on sanitization procedures. Started practicin
Slide 16: Employee Gratitude
• We have asked all our offices to order in lunch once per week from a customer for the benefit of our employees and our customers. • As a thank you to our employees for their hard work and dedication and to help our customers, we will be giving out $50 gift cards to local restaurants. • On March 31
Slide 17: Employee Communication & Education
Employee Communication & Education INTRANET SITE Beginning March 13 : We created a dedicated page on our new Intranet site to communicate important updates surrounding COVID - 19 to employees . Employees have access to this site anytime, anywhere .
Slide 18: Supporting our Customers
Bank First has taken an “all hands on deck” approach to serve our customers as well as other businesses in the communities we serve to ensure they are getting the support they need. Providing effective communication to our customers during this challenging time has been a top priority of Bank First.
Slide 19: Supporting Our Customers: Personal Loan Customers
PERSONAL LOAN CUSTOMERS Fannie Mae & Freddie Mac • Forbearance programs rolled out. 6 months deferral of payment and escrow with a potential for another 6 months. No credit bureau reporting during forbearance. Supporting Our Customers 1,114 AS OF APRIL 17, 2020 48 CUSTOMER REQUESTS $8.1 MILLION 1,11
Slide 20: Supporting Our Customers: Business Loan Customers
Deferral Requests Bank First is offering business customers six - month principal deferrals. Deferred principal will balloon at maturity. Supporting Our Customers 1,114 AS OF APRIL 17, 2020 89 DEFERRAL REQUESTS $174 MILLION SBA Paycheck Protection Program • As a Preferred SBA Lender, Bank First is p
Slide 21: Supporting Our Customers: Depository Customers
Supporting Our Customers DEPOSITORY CUSTOMERS • We are waiving the early withdrawal penalties on CDs. • We are waiving telephone transfer fees. • We are waiving overdraft fees based on request. 76 NEW DEPOSITORY RELATIONSHIPS AS A RESULT OF ASSISTING BUSINESSES IN THE PAYCHECK PROTECTION PROGRAM. ze
Slide 22: Supporting Our Customers: Digital Banking Efforts
Supporting Our Customers DIGITAL BANKING EFFORTS • Encouraging customers to utilize Bank First’s digital services, such as Retail and Mobile Banking. • Added online account opening to our website. • Encouraging customers to apply online using our new mortgage application system. • Encouraging peer -
Slide 23: Supporting Our Customers: Customer Feedback
Supporting Our Customers CUSTOMER FEEDBACK “Thank you again. You have been great to work with. Very informative. Very responsive. Have a great day!" “Hi Nathan, Yes , beers ASAP – this COVID has got to go! Thank you for helping Beth with the PPP loan stuff. She was raving about you and really apprec
Slide 24: Customer Communication & Education: Website
Customer Communication & Education WEBSITE COMMUNICATION Created Alert Banner and Link containing news and updates about COVID - 19 on our website Letter from CEO: COVID - 19 Response Letter from CEO: COVID - 19 Update Launched “Schedule An Appointment” form on our website for customers Content adde
Slide 25: Customer Communication & Education: Email
Customer Communication & Education EMAIL COMMUNICATION Beginning March 16: Letters from the CEO sent to customers: • COVID - 19 Response • COVID - 19 Update • COVID - 19 Customer Relief Efforts • Scammers are taking advantage of COVID - 19 • CARES Act and the Paycheck Protection Program (PPP) • Upda
Slide 26: Customer Communication & Education: Social Media
Customer Communication & Education SOCIAL MEDIA SITES Beginning March 14: • Began publishing informative information to our followers on: Facebook - @bankfirstwisconsin LinkedIn - @bankfirst - wi Instagram - @bankfirstwi
Slide 27: Supporting Our Community
Supporting Our Community SUPPORTING LOCAL RESTAURANTS Bank First recently purchased $ 100 , 000 in gift cards from over 140 local restaurants . These gift cards will be donated back to local families, non - profit organizations, and businesses through various programs once the Safer - At - Home rest
Slide 28: Financial Impact of COVID-19 on Performance
Bank First will continue to be one of the top - performing providers of financial services in Wisconsin. Bank First will create value for the communities and customers we serve, resulting in exceptional return for our shareholders. We will continue to grow relationship deposits and lend those funds
Slide 29: Impact on Financial Performance: Paycheck Protection Program
COVID - 19 Impact on Financial Performance PAYCHECK PROTECTION PROGRAM As of April 17, 2020 1,236 Applications Submitted to Bank First Customers Non - Customers 1,144 92 1,236 Applications Approved By SBA Customers Non - Customers $205 Million $40 Million $245 Million Approved 1,114 Fees Expected to
Slide 30: Impact on Financial Performance: Balance Sheet Considerations
COVID - 19 Impact on Financial Performance BALANCE SHEET CONSIDERATIONS Bank First Loan Composition as of March 31, 2020 $ 1.8 billion Commercial Real Estate Composition as of March 31, 2020 $954 m illion Construction & Development Composition as of March 31, 2020 $104 m illion
Slide 31: Impact on Financial Performance: Asset Quality
COVID - 19 Impact on Financial Performance ASSET QUALITY Non - Performing Assets/Consolidated Assets as of March 31 ▪ Bank First entered this time of heightened economic turbulence with strong asset quality metrics . ▪ While there is great uncertainty over the impact of the current health crisis on
Slide 32: Impact on Financial Performance: Liquidity
COVID - 19 Impact on Financial Performance LIQUIDITY * Calculated as cash, due from banks, interest - bearing deposits, federal funds sold and FHLB borrowing capacity • Quick liquidity indicates funds immediately available. • This measure does not include available access to liquidity through broker
Slide 33: Our Promise - Thank you
We are a relationship - based community bank focused on providing innovative products and services that are value driven. OUR PROMISE Thank you.