Bank First, headquartered in Manitowoc, has announced the completion of its’ merger with Tomah Bancshares, Inc.
The merger by Bank First Corporation with the parent company of Timberwood Bank was finalized on Friday. On Monday the Tomah financial institution opened as a Bank First location.
Mike Molepske, President and Chief Executive Officer, said in a statement, “On behalf of Bank First, I would like to wish a warm welcome to Timberwood Bank customers, employees and shareholders who are joining us through this merger.”
He Continued, “I am excited for our future together and affirm our commitment as a relationship based community bank to continue to serve Tomah & surrounding communities with personal service & valuable financial solutions.”
The aggregate consideration of the agreement was approximately $29.4 million with each Timberwood Bank shareholder to receive just over 5-shares of Bank First Corporation common stock for each share of Timberwood Bank stock ownership.
