Bank First, N.A.
Manitowoc, Wisconsin, Manitowoc County
$5.9B in total assets, the 261st largest of 4,309 US banks and 4th of 155 headquartered in Wisconsin.
- FDIC certificate
- 5304
- Established
- 1894
- Owned by
- Bank First Corp
- Primary regulator
- OCC
- Website
- www.bankfirst.com
At a glance
Compared with 29 banks headquartered in Wisconsin with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $5.9B | 97% | $1.7B | |
| Loans | $4.5B | 93% | $1.3B | |
| Deposits | $5.0B | 97% | $1.4B | |
| Return on assets | 1.65% | 83% | 1.22% | |
| Net interest margin | 4.45% | 86% | 3.63% | |
| Efficiency ratio | 51.9% | 24% | 60.3% | |
| Equity to assets | 13.56% | 83% | 10.46% | |
| Loans to deposits | 90% | 28% | 94% |
Growth
Total assets grew 16.1% a year over the last 5 years and 16.4% a year over 10 years, including 6 acquisitions in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Jan 2026 | The First National Bank and Trust Company Beloit, WI | $1.6B |
| Feb 2023 | Hometown Bank Fond Du Lac, WI | $654M |
| Aug 2022 | Denmark State Bank Denmark, WI | $680M |
| May 2020 | Timberwood Bank Tomah, WI | $183M |
| Jul 2019 | Partnership Bank Cedarburg, WI | $310M |
| Oct 2017 | First National Bank Waupaca, WI | $429M |
| Dec 1999 | Dairy State Bank Plymouth, WI | $66M |
| Oct 1985 | St. Nazianz State Bank St. Nazianz, WI | $11M |
| Jun 1971 | State Bank of Francis Creek Francis Creek, WI | n/a |
Where they operate
38 branches in 19 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Manitowoc County, WI | $1.1B | 51.3% | 1 of 8 |
| Sheboygan County, WI | $677M | 22.7% | 1 of 13 |
| Brown County, WI | $595M | 4.3% | 4 of 16 |
| Rock County, WI | $481M | 13.9% | 3 of 18 |
| Walworth County, WI | $323M | 12.9% | 2 of 15 |
| Winnebago County, IL | $258M | 3.1% | 12 of 18 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 27 branches since 2016 (11 to 38, +245.5%). 3 opened, 34 acquired, 10 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 11 | |||
| 2016 | Opened Appleton | 1 | 0 | +1 | 12 |
| 2017 | Acquired First National Bank | 6 | 0 | +6 | 18 |
| 2019 | Acquired Partnership Bank | 5 | 0 | +5 | 23 |
| 2020 | Acquired Timberwood BankClosed Tomah | 2 | 2 | 0 | 23 |
| 2021 | Sold 1 branch to Charter BankClosed Tomah and Weyauwega | 0 | 3 | −3 | 20 |
| 2022 | Acquired Denmark State BankClosed Mequon and Seymour | 4 | 2 | +2 | 22 |
| 2023 | Acquired Hometown BankClosed Fond Du Lac and Whitelaw | 6 | 2 | +4 | 26 |
| 2024 | Opened Green BayClosed Green Bay | 1 | 1 | 0 | 26 |
| 2025 | Opened Sturgeon Bay | 1 | 0 | +1 | 27 |
| 2026 through Q2 | Acquired The First National Bank and Trust Company | 11 | 0 | +11 | 38 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 34% | 32% | |
| 1-4 family residential | 24% | 23% | |
| Business (C&I) | 16% | 12% | |
| Multifamily | 10% | 14% | |
| Farmland | 6% | 2% | |
| Construction and land | 5% | 8% | |
| Agricultural | 2% | 4% | |
| Consumer | 1% | 3% | |
| Other | 1% | 3% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 53% | 52% | |
| Noninterest-bearing | 31% | 18% | |
| Time deposits | 16% | 30% |
Brokered deposits are 0.3% of deposits (peers 6.5%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.56% | 0.34% |
| Net charge-offs, annualized | 0.06% | 0.01% |
| Reserves to loans | 1.24% | 1.05% |
| Leverage ratio | 9.27% | 11.10% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Wisconsin
Largest competitors in Manitowoc County, WI
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/banks/bank-first-manitowoc-wi