MANITOWOC — Bank First Corporation (the holding company of Bank First NA) announced it will merge with Hometown Bancorp Ltd. effective Feb. 10.
It was announced Jan. 13 that 97 percent of votes cast by Hometown shareholders were in favor of the merger.
“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,” said 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 systems conversion will occur over the Feb. 11 and 12 weekend, and the Cambridge, Fond du Lac (two locations), Pardeeville, Poynette, and Wautoma offices will open as Bank First branches on Feb. 13. Hometown Bank offices in Appleton, Neshkoro, Redgranite, and St. Cloud will be consolidated into nearby offices.
The transaction value was estimated at $124 million when it was first announced in July 2022.
Bank First Corporation provides financial services through its subsidiary, Bank First, which employs approximately 335 full-time equivalent staff and has assets of approximately $3.6 billion.
Hometown Bancorp, Ltd is a bank holding company headquartered in Fond du Lac, with total assets of approximately $640 million.
For more information about Bank First, please visit www.bankfirst.com.
