Bank First Corporation Signs Agreement to Acquire PSB Holdings, Inc.

Bank First Corporation (NASDAQ: BFC) has 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 will combine two community banks to create an institution with over $7.6 billion in assets, expanding Bank First's presence into North Central Wisconsin and the greater Milwaukee area. The transaction is expected to close in Q4 2026, subject to regulatory and shareholder approvals.