Bank First

What sets Bank First apart

• Bank First reports one of the lowest common equity tier 1 (CET1) ratio readings among banks of $1 bn to $10 bn: 10.93% at Q2 2026, where the median of the 287 banks is 13.22%.
• Over the year to Q2 2026, the total deposits of Bank First rose by 38.6% to $5.0 bn, a bigger rise than at 96% of covered banks.

How large is Bank First?

The balance sheet of Bank First at Q2 2026: assets $5.9 bn, deposits $5.0 bn, net loans $4.5 bn (loans equal to 88.89% of deposits). Securities make up 10.2% of total assets at Bank First. Since Q1 2016, when Bank First held $1.2 bn, its assets grew 390.2%. In the year to Q2 2026, deposits at Bank First rose 38.6% while its total assets rose 36.2%. At Q2 2026, Bank First employed 554 full-time equivalent staff across 38 offices, about $10.7 mn of assets per employee and $132.3 mn of deposits per office.

How much funding at Bank First is uninsured?

At Bank First, uninsured deposits (above the FDIC limit) made up 32.74% of domestic deposits at Q2 2026 (+0.43 pp on a year earlier); Bank First ranks 276th of 500 on this measure. In dollars, Bank First estimated $1.6 bn of uninsured deposits.

Key facts, Q2 2026

US rank of Bank First: 1 = highest unless marked 1 = lowest.

The CET1 ratio of Bank First stood at 10.93% in Q2 2026, -0.10 pp year on year. Low and high at Bank First since Q1 2016: 10.05% (Q2 2016) to 11.92% (Q4 2023). Equity capital of Bank First at Q2 2026: $805.9 mn, or 13.6% of total assets. Bank First also reported a total capital ratio of 12.08% for Q2 2026, and a tier 1 leverage ratio of 9.27%.

On held-to-maturity securities, Bank First carried an unrealized loss of $361,000 at Q2 2026, equal to 0.0% of equity capital. The loss turned from a gain into a loss over the year. Its deepest point: $2.3 mn in Q3 2023. The available-for-sale portfolio of Bank First showed an unrealized loss of $12.3 mn at Q2 2026; the loss widened by $1.5 mn over the year.

For the year to Q2 2026, Bank First earned a return on equity of 12.52%; return on assets: 1.67%. Net interest margin at Bank First: 4.45%, +0.74 pp in a year. Bank First net income: $46.0 mn, up 28.4% year on year. The efficiency ratio of Bank First was 51.86%: about 52 cents cost per revenue dollar, against 53 cents at the median peer.

At Q2 2026, noncurrent loans were 0.56% of total loans at Bank First; net charge-offs: 0.06% of average loans. Gross loans and leases at Bank First: $4.5 bn, up 26.2% in a year.

The peer group of Bank First is the 6 banks nearest to it by total assets at Q2 2026: 3 larger and 3 smaller. Of the peers, 0 share the charter type of Bank First (national bank), 6 sit in the same size group ($1 bn to $10 bn) and 0 have head offices in Wisconsin. Against them, Bank First shows CET1 ratio 10.93% against a peer median of 14.54%, return on equity 12.52% against a peer median of 14.85% and uninsured deposit share 32.74% against a peer median of 50.51%.

The FDIC history of Bank First, oldest first; figures before and after each event are not like for like.

1. 27 October 2017. Absorbed First National Bank (FDIC certificate 15149).
2. 12 July 2019. Absorbed Partnership Bank (FDIC certificate 10007).
3. 15 May 2020. Absorbed Timberwood Bank (FDIC certificate 15158).
4. 12 August 2022. Absorbed Denmark State Bank (FDIC certificate 13240).
5. 10 February 2023. Absorbed Hometown Bank (FDIC certificate 12781).
6. 1 January 2026. Absorbed The First National Bank and Trust Company (FDIC certificate 5285).

Large one-quarter moves at Bank First

• Total assets at Bank First changed by +31.6% in the quarter to 2017-12-31: Absorbtion - Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from First National Bank.
• Total assets at Bank First changed by +34.7% in the quarter to 2026-03-31: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from The First National Bank and Trust Company.