Bank First Corporation · NASDAQ:BFC
Bank First — Shareholder Meeting (June 2025)
25 slides from Bank First's shareholder meeting presentation, Jun 17, 2025
Slide 1: Annual Shareholder Meeting June 16, 2025
ANNUAL SHAREHOLDER MEETING June 16, 2025
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
Slide 4: Board of Directors
4 BOARD OF DIRECTORS MIKE MOLEPSKE Chairman of the Board and CEO, Bank First TIM MCFARLANE President, Bank First MARY-KAY BOURBULAS Co-owner, Founder, and Manager, Handen Distillery STEVE JOHNSON Retired Market President/ CRA Officer, Bank First BOB GREGORSKI Founder and Principal, Gregorski Develop
Slide 5: Bank First Corporation Officers and Special Guests
5 MIKE MOLEPSKE Chairman of the Board and CEO, Bank First TIM MCFARLANE President, Bank First KELLY DVORAK Chief Legal Counsel, Bank First KEVIN LEMAHIEU Chief Financial Officer, Bank First JASON KREPLINE Chief Lending Officer, Bank First BANK FIRST CORPORATION OFFICERS SPECIAL GUESTS MARK KANALY Pa
Slide 6: Senior Management
6 SENIOR MANAGEMENT MIKE MOLEPSKE Chief Executive Officer TIM MCFARLANE President KELLY DVORAK Chief Legal Counsel KEVIN LEMAHIEU Chief Financial Officer JASON KREPLINE Chief Lending Officer MEGHANN KASPER Chief Credit Officer BRENDAN MARSTON Chief Operations Officer DEBBIE WEYKER SVP Marketing MATT
Slide 7: Meeting Business
• Determination of Quorum • Approval of Minutes • Business to be Conducted 7 MEETING BUSINESS
Slide 8: 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. 8 PROPOSAL 1 MIKE MOLEPSKE SKIP MCCONEGHY MICHAEL STAYER-SUPRICK
Slide 9: Proposals 2 and 3: Auditor Ratification and Compensation Vote
9 To ratify the appointment of FORVIS MAZARS, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. PROPOSAL 2 To hold an advisory vote on the compensation of the Company’s named executive officers. PROPOSAL 3
Slide 10: Laura Kohler, Retiring Director
10 LAURA KOHLER RETIRING DIRECTOR • Joined Bank First Corporation in 2022 • Served on the Compensation Committee • Brought deep expertise in HR, talent management, and organizational culture • Advised on compensation strategy, employee engagement, and retention • Supported succession planning and le
Slide 11: State of the Bank
TIM MCFARLANE President 11 STATE OF THE BANK
Slide 12: Our Promise
12 We are a relationship-based bank focused on providing innovative solutions that are value-driven to the communities we serve. Staying true to our values OUR PROMISE
Slide 13: Rankings and Awards
13 S&P Global Market Intelligence - Top 10 U.S. Community Banks • Ranked #9 nationally among community banks with $3–$10 billion in assets for 2024, based on performance, growth, and balance sheet strength. Ranked #1 for Wisconsin banks! Forbes America’s Best Banks • Named #4 in America’s Best Banks
Slide 14: Strategic Growth Across All Channels
14 STRATEGIC GROWTH ACROSS ALL CHANNELS ORGANIC Sustained growth driven by strong customer relationships and increased market share M&A Strengthening our presence through strategic partnerships and market expansion Waupaca Bancorporation (2017) Partnership Community Bancshares (2019) Tomah Bancshare
Slide 15: Facilities That Shape Experience
15 Modern, accessible, and brand-aligned spaces are designed to provide an exceptional customer and employee experience. FACILITIES THAT SHAPE EXPERIENCE STURGEON BAY • Opening today, June 16 • New office expands our presence into Door County • Brings convenient, relationship-based banking to a vibr
Slide 16: Financial Report
KEVIN LEMAHIEU Chief Financial Officer 16 FINANCIAL REPORT
Slide 17: Annual Earnings Per Share (Previous 10 Years)
17 $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Compounded annual growth rate: 10 year = 12.6% 5 year = 10.9% ANNUAL EARNINGS PER SHARE (PREVIOUS 10 YEARS)
Slide 18: Net Interest Margin, Earning Asset Yield, and Cost of Funds
18 NET INTEREST MARGIN, EARNING ASSET YIELD, AND COST OF FUNDS PER QUARTER 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% 5.50% 6.00% Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 Net interest margin Yield on earning assets Cost of funds
Slide 19: Strong Core Deposit Base
19 STRONG CORE DEPOSIT BASE (DOLLARS IN MILLIONS) $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 2019 2020 2021 2022 2023 2024 Mar-25 Noninterest Bearing Time Deposits Other Interest Bearing 55% 55% 59% 55% 52% 55% 27% 28% 54% 17% 20% 26% 13% 31% 10% 32% 14% 31% 17% 31% 18%
Slide 20: Asset Growth
20 ASSET GROWTH (DOLLARS IN MILLIONS) $1,238 $1,316 $1,753 $1,793 $2,210 $2,718 $2,938 $3,660 $4,222 $4,495 $4,507 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 3/31/2025
Slide 21: Dividends Per Share
21 DIVIDENDS PER SHARE *Annualized based on the first two quarters of 2025. $0.10 $1.10 $2.10 $3.10 $4.10 $5.10 $6.10 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025* One-time $0.29 special dividend One-time $3.50 special dividend
Slide 22: Stock Performance (Total Return)
22 STOCK PERFORMANCE (Total Return) $0 $100 $200 $300 $400 $500 $600 5/31/2015 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 Value of $100 invested on June 1, 2015 (10 year) BFC Russell 2000 S&P Regional Banking ETF $560.54 $165.76 $171.95 10 yr.
Slide 23: Questions / Comments
23 QUESTIONS / COMMENTS
Slide 24: Shareholder Services Team
24 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 25: Bank First Corporation
BankFirst CORPORATION