Bank First National Corporation, the holding company of Bank First, today announced a merger agreement with the parent company of Partnership Bank. Bank First has agreed to acquire 100% of the common stock of Partnership, a Wisconsin State-chartered institution, in a combined stock-&-cash-transaction valued at approximately $41-million dollars.
Mike Molepske, President & CEO of Bank First said in a statement, “We are very excited to be uniting with Partnership Bank and increasing our footprint in Wisconsin.” The corporation, headquartered in Manitowoc, owns and operates 18-branches in the state and has total assets of about $1.8-billion dollars.
Partnership Bank has office locations in Ozaukee, Monroe and Jefferson Counties. The combined company will have total assets of around $2.1-billion, approximately $1.7-billion in loans and, deposits totaling about $1.8-billion.
The agreement & Plan of Merger has been approved by the two Boards-of-Directors. The transaction has a targeted closing date of July 12th, 2019.
