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BANK FIRST CORPORATION

(BFC)
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Bank First : announces changes to its Board of Directors

06/16/2021 | 03:26pm EDT
Katherine M.
Reynolds

N E W S R E L E A S E

P.O. Box 10, Manitowoc, WI 54221-0010

For further information, contact:

Rachel Oakes, Marketing Communications Manager Phone: (608) 372-2265 roakes@bankfirstwi.bank

FOR IMMEDIATE RELEASE

Bank First announces changes to its Board of Directors

MANITOWOC, WI, June 16, 2021 - Bank First Corporation (NASDAQ: BFC) ("Bank First") is announcing the retirement of a long-time member of the board of directors, Katherine M. Reynolds. The bank is also pleased to announce the appointment of Phillip R. Maples. Both changes were effective June 14, 2021.

Katherine M. Reynolds has been a director of Bank First since 1992. During her tenure, she served on the Compensation and Retirement Committee, Executive Committee, and was a founding member and chairperson of the Governance and Nominating Committee. She is a partner at the law firm of Michael Best & Friedrich, LLP and has been practicing law for over 40 years. As a member of her firm's Wealth Planning Special Practice Group, she provides strategic advice on wealth preservation for future generations by implementing her clients' plans for estate planning and probate matters, and trust creation and administration. She has held a leadership position in her law

firm by serving as the chair of the firm's Elder and Disability Law Focus Group and as the Manitowoc office representative of the firm's Community Outreach Committee. Ms. Reynolds' community activities include serving as a member of the board of directors of the Manitowoc Symphony Orchestra, member and chair of the Manitowoc County Ethics Committee, and member and secretary of the St. Francis of Assisi Parish Finance Council.

"We thank Kate for her commitment and remarkable service to our shareholders, employees, and customers for the past 29 years," said Mike Molepske, President and Chief Executive Officer of Bank First Corporation. "She has provided strategic leadership, wisdom, guidance, and has been instrumental in the growth and development of the corporation and the bank. Kate exemplifies the best qualities of a board member and has influenced me greatly. We would not be where we are today without her leadership. We will miss her presence on the board and wish her the very best." Since Ms. Reynolds joined the board in 1992, the bank has grown

Phillip R.
Maples

exponentially, most notably through the bank's expansion from six locations in 1992 to 21 today, as well as the increase in assets from $184.3 million in 1992 to $2.8 billion today.

Phillip R. Maples was highly recommended and nominated by Ms. Reynolds as a prospective addition to the Bank First Board of Directors and was formally elected on June 14, 2021. He is a partner in the law firm of Michael Best & Friedrich, LLP and has been practicing law for over 28 years. He joined Michael Best & Friedrich in 2016 and has an active statewide practice with a focus on wealth planning. Mr. Maples also works frequently with large corporate and agribusiness clients on transactional and structural planning, business succession and with their principals on estate, gift, and income tax issues. Working within his firm's Wealth Planning practice group, he provides counsel

on wealth transfer and related tax issues, along with the development and implementation of complex estate plans. He also works within the probate and trust administration areas and in the resolution of business disputes. Having served on the board of directors for several private companies, he works frequently with the boards of his clients on governance and strategic issues. Prior to joining Michael Best & Friedrich in 2016, Mr. Maples spent six years with the management team of a local manufacturer leading their operational and legal departments. He was also a shareholder at the law firm of Whyte Hirschboeck Dudek, S.C. in Manitowoc from 1996 to 2009.

Mr. Maples has been active in numerous community and statewide organizations throughout the years. He currently serves on the board of directors and executive committee of the Museum of Wisconsin Art and on the board of trustees of the Wisconsin Maritime Museum. Mr. Maples received his Bachelor of Arts, with distinction, from the University of Wisconsin - Madison in 1988 and his Juris Doctor degree from the University of Wisconsin Law School in 1992, where he has returned to instruct in their practice skills program in the area of wealth planning.

"We are pleased to welcome Phil to the Bank First Board of Directors," stated Michael Ansay, Bank First Chairman of the Board. "He is an exceptional addition to the board and we are looking forward to his guidance and leadership. Phil brings an abundance of legal knowledge and experience, specifically in the areas of estate, wealth, corporate governance, and business succession planning. He is an excellent candidate for the bank's Governance and Nominating Committee and is being considered to serve in that role as well."

For more information about Bank First, visit www.BankFirstWI.bank.

Bank First Corporation provides financial services through its subsidiary, Bank First, which was incorporated in 1894. The bank is an independent community bank with 21 banking locations in Wisconsin. The bank has grown through both

acquisitions and de novo branch expansion. The bank offers loan, deposit and treasury management products at each of its banking offices. Insurance services are available through our bond with Ansay & Associates, LLC. Trust, investment advisory and other financial services are offered through the bank's partnership with Legacy Private Trust, an alliance with Morgan Stanley and an affiliation with McKenzie Financial Services, LLC. The bank is a co-owner of a data processing subsidiary, UFS, LLC, which provides data and technology services to banks in the Midwest. The company employs approximately 299 full-time equivalent staff and has assets of approximately $2.8 billion. Further information about Bank First Corporation is available by clicking on the Investor Relations tab at www.BankFirstWI.bank.

# # #

Forward Looking Statements: This news release 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 of the risks and uncertainties inherent in forward looking statements, readers are cautioned not to place undue reliance on them, whether included in this news release or made elsewhere from time to time by Bank First Corporation or on its behalf. Bank First Corporation disclaims any obligation to update such forward-looking statements. In addition, statements regarding historical stock price performance are not indicative of or guarantees of future price performance.

Disclaimer

Bank First Corporation published this content on 16 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2021 19:25:06 UTC.


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Financials (USD)
Sales 2021 112 M - -
Net income 2021 44,2 M - -
Net Debt 2021 - - -
P/E ratio 2021 12,0x
Yield 2021 1,63%
Capitalization 532 M 532 M -
Capi. / Sales 2021 4,75x
Capi. / Sales 2022 4,92x
Nbr of Employees 302
Free-Float 78,1%
Chart BANK FIRST CORPORATION
Duration : Period :
Bank First Corporation Technical Analysis Chart | BFC | US06211J1007 | MarketScreener
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Last Close Price 69,21 $
Average target price 75,50 $
Spread / Average Target 9,09%
EPS Revisions
Managers and Directors
Michael B. Molepske President, Chief Executive Officer & Director
Kevin M. LeMahieu Chief Financial Officer
Michael G. Ansay Chairman
Donald R. Brisch Independent Director
David R. Sachse Independent Director