Bankfirst Corporation

What Bankfirst Corporation does

Bankfirst Corporation is a community bank holding company identified by NASDAQ ticker BKFR, operating through a regional branch network with approximately $3.36 billion in assets (per company history notes). The company is led by CEO Fred R. Lawson and pursues traditional community banking services including deposit accounts, commercial and retail lending, and (post-Centre 1 Bancorp) trust and wealth management offerings. Geographic footprint centers on the U.S. Southeast with extension into adjacent states via acquisition.

The firm's core revenue model is spread-based community banking — net interest income from lending activities funded by retail and commercial deposits, supplemented by fee income from wealth management and ancillary banking services. Distribution is executed through physical branches and traditional relationship banking channels; there is no evidence of proprietary technology products, digital-native platforms, or AI/ML-driven offerings. Underlying infrastructure is described as standard community bank technology with no proprietary features disclosed.

Bankfirst's go-to-market is inorganic-led: the firm has executed or announced multiple acquisitions including American Bank of Oklahoma (May 2025) and Centre 1 Bancorp (January 2026), with a pending PSB Holdings merger (announced May 2026, expected close Q4 2026) that would scale the combined entity to roughly $7.6 billion in assets and 50 branches. Note: the input data exhibits material inconsistencies (e.g., city listed as Knoxville, TN, conflicting Wisconsin-based Bank First Corporation records, year_founded conflicts of 1980 vs. 1897); the analysis above reflects the BKFR ticker, Lawson CEO, and Oklahoma acquisition signals most consistent with BankFirst Capital Corporation (Columbus, MS-area operations).

Name

Bankfirst Corporation

Legal name

Bank First Corporation

Website

https://bankfirst.net

Company type

Private

Founded year

1897

Operating status

Operating

Short description

Bankfirst Corporation is a NASDAQ-listed community bank holding company (BKFR) operating a regional branch network in the U.S. Southeast, offering deposit accounts, lending, and wealth management services to retail and commercial customers, and pursuing aggressive growth via serial acquisitions.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Offices of Bank Holding Companies (551111)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Community banking
• Retail banking
• Commercial lending
• Deposit accounts
• Wealth management

Headquarters

HQ city

Knoxville

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Banking Services: Traditional community banking services including deposit accounts, lending, and wealth management through branch network

Go-to-market motion2 records

Distribution channels2 records

Marketing channels2 records

Core offering

Bankfirst Corporation is a bank holding company that operates community banks providing standard retail and commercial banking products and services, including checking and savings deposit accounts, consumer and commercial loans, and digital/online banking services. Following its January 2026 acquisition of Centre 1 Bancorp, the company also offers trust and wealth management services across its Wisconsin and Illinois footprint.

Product overview

Bankfirst Corporation is a Wisconsin-headquartered community bank and registered bank holding company operating primarily in Wisconsin and Illinois. The company offers standard banking products and services including checking accounts, savings accounts, loans, and digital banking services. Following its acquisition of Centre 1 Bancorp, Inc. completed in January 2026, the company expanded to include trust and wealth management offerings, serving approximately $6 billion in assets at the time of that acquisition.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking and Savings Accounts Standard retail checking and savings deposit accounts for individual consumers and small businesses served through the bank's community bank branches.
• Consumer and Commercial Loans Consumer and commercial lending products offered to retail customers and businesses within the bank's regional footprint.
• Digital and Online Banking Services Online and digital banking channels providing account access, money movement, and self-service capabilities to retail and small business customers.
• Trust and Wealth Management Services Trust, estate, and wealth management services for individual and business clients, inherited via the Centre 1 Bancorp acquisition and served across the Wisconsin and Illinois footprint.

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• PSB Holdings Inc.coreStrategic or Co-development Partner · 26 May 2026Bank First Corporation agreed to acquire PSB Holdings Inc., parent company of Peoples State Bank, in an all-stock transaction valued at approximately $202.9 million. The merger combines two Wisconsin-based community banks, expanding Bank First's footprint across North Central Wisconsin and greater Milwaukee area. Transaction expected to close in Q4 2026 subject to regulatory and shareholder approval.
• Centre 1 Bancorp, Inc.coreStrategic or Co-development Partner · 2 January 2026Bank First Corporation completed acquisition of Centre 1 Bancorp, Inc., parent company of The First National Bank and Trust. The acquisition expands Bank First's services and geographic reach, including trust and wealth management offerings, across Wisconsin and Illinois, serving approximately $6 billion in assets.

Scale indicators7 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Associated Banc-Corp: Wisconsin-headquartered bank holding company offering community and commercial banking across the Upper Midwest. Most directly comparable to Bank First given overlapping Wisconsin/Illinois footprint and similar community-bank model, though materially larger.
• Peoples Bancorp Inc. Ohio-based community bank holding company with a multi-state community banking model including wealth management. Comparable asset size, similar community-banking positioning, and parallel trust/wealth-management service lines.
• Old National Bancorp: Midwest regional bank holding company formed through repeated community-bank acquisitions (including First Midwest). Highly comparable M&A-driven growth playbook to Bank First's current strategy.
• First Busey Corporation: Illinois-headquartered bank holding company operating community banks across Illinois, Indiana, Florida, and Missouri. Comparable community-banking franchise and similar asset size band, providing a relevant Midwest peer benchmark.
• Tompkins Financial Corporation: Northeast-based community bank holding company with a multi-bank structure. Comparable in operating model (community banking, wealth management services, branch-led distribution) and similar asset-size band, despite being a regional peer in geography.
• Lakeland Financial Corporation: Indiana-based community bank holding company operating Lake City Bank. Comparable community-banking model, similar asset size range, and consistent track record of organic plus acquired growth in a Midwestern footprint.
• Wintrust Financial Corporation: Chicago-based community bank holding company with a decentralized network of community banks in the Midwest. Highly comparable operating model (community-bank roll-up strategy, branch-led distribution, trust and wealth management), though at significantly larger scale than Bank First.
• Byline Bancorp: Chicago-based community bank holding company focused on small and middle-market businesses. Directly comparable in community-bank positioning, Midwest footprint, and target customer profile (SMB and consumer).
• S&T Bancorp: Pennsylvania-based community bank holding company. Comparable in asset size band and traditional community-banking model, though operating in a different geography (Pennsylvania vs. Wisconsin/Illinois).

Broad incumbents

• Commerce Bancshares: Missouri-based bank holding company with a large Midwest community and commercial banking franchise. Broader, more established incumbent with overlapping product set (deposits, lending, wealth management) and Midwestern geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/askbbt
• Facebookfacebook.com/bbtbank

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bankfirst Corporation