Bank First Corporation (Nasdaq: BFC) (“Bank First”) the holding company of Bank First, N.A., announced today that it has received approval from the shareholders of Hometown Bancorp, Ltd. (“Hometown”), parent company of Hometown Bank, to complete its merger of the two organizations. 97.31% of the total number of shares voted were cast in favor of the transaction.
“The approval from Hometown’s shareholders demonstrates their confidence in the financial and strategic benefits of uniting our two organizations and the value it creates for our employees, customers, and the communities we serve,” stated Mike Molepske, Chairman of the Board, Chief Executive Officer and President at Bank First.
Tim McFarlane, President and Chief Executive Officer at Hometown Bank, will assume the role of President and will join the Board of Directors of Bank First, N.A. upon completion of the merger. He will also be nominated to the Bank First Corporation Board of Directors. Mike Molepske will continue to serve as Chief Executive Officer and Chairman of the Boards of Directors of Bank First Corporation and Bank First, N.A.
The merger is scheduled for Friday, February 10, 2023. The systems conversion will occur over that weekend, and the Cambridge, Fond du Lac (two locations), Pardeeville, Poynette, and Wautoma offices will open as Bank First branches on Monday, February 13, 2023. Hometown Bank offices in Appleton, Neshkoro, Redgranite, and St. Cloud will be consolidated into nearby offices.
For more information about Bank First, please visit www.bankfirst.com.
Bank First Corporation
Bank First Corporation provides financial services through its subsidiary, Bank First, which was incorporated in 1894. Bank First offers loan, deposit, and treasury management products at each of its 24 banking locations in Wisconsin. The bank has grown through both acquisitions and de novo branch expansion. The company employs approximately 335 full-time equivalent staff and has assets of approximately $3.6 billion. Insurance services are available through its bond with Ansay & Associates, LLC. Trust, investment advisory, and other financial services are offered through the bank’s partnership with Legacy Private Trust, and an alliance with Morgan Stanley. The bank is a co-owner of a bank technology outfitter, UFS, LLC, which provides digital, core, cybersecurity, managed IT, and cloud services. Further information about Bank First Corporation is available by clicking on the Shareholder Services tab at www.bankfirst.com.
Hometown Bancorp, Ltd
Hometown Bancorp, Ltd is a bank holding company headquartered in Fond du Lac, Wisconsin with total assets of approximately $640 million. Its principal activities are the ownership and management of its wholly owned subsidiary, Hometown Bank. The bank generates commercial, mortgage and consumer loans and offers various deposits and savings plans to customers located primarily within central and northeastern Wisconsin. For more information on Hometown, please visit www.htbwi.com.