AGM/EGMJun 18, 2026, 04:07 PM
Bank First Elects New Directors, Approves Proposals, Details Mergers
AI Summary
Bank First Corporation held its 2026 Annual Meeting of Shareholders, where Steven M. Eldred and Todd A. Sprang were elected as new directors, and Timothy J. McFarlane was re-elected. Shareholders also ratified Forvis Mazars, LLP as the independent auditor, approved executive compensation in an advisory vote, and amended the company's Articles of Incorporation. Additionally, Stephen E. Johnson retired from the Board. The company provided updates on its strategic growth, including the completed merger with First National Bank and Trust and the pending acquisition of Peoples State Bank, which is expected to be significantly accretive to earnings.
Key Highlights
- Stephen E. Johnson retired from the Board of Directors effective June 15, 2026.
- Steven M. Eldred and Todd A. Sprang were elected as new directors to the Board.
- Timothy J. McFarlane was re-elected to the Board for a second term.
- Shareholders ratified Forvis Mazars, LLP as independent auditor with 7,946,631 votes for.
- Advisory vote on executive compensation was approved with 5,097,459 votes for.
- Amendment to Articles of Incorporation was approved with 5,329,700 votes for.
- The merger with First National Bank and Trust was legally closed on January 1, 2026.
- Pending Peoples State Bank acquisition is projected to be 14.2% accretive to 2027 EPS.
Price Impact
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