Bank First Announces Officer Promotions
JANUARY 28, 2015 - Mike Molepske, President and CEO of Bank First (BFNC), is pleased to announce the following Bank Officer promotions:
Rebecca Harrison has been promoted to Security Officer, BSA and Compliance Specialist. In this role, Harrison is responsible for overseeing the day-to-day functions of the Bank’s security, the Bank’s Bank Secrecy Act (BSA) compliance program, and monitors compliance with state and federal USA Patriot Act, anti-money laundering activities (AML), and Office of Foreign Assets Control (OFAC) laws and regulations.
Harrison has been with the Bank since 2001 serving in a variety of capacities. She is a Roncalli High School graduate and earned her Bachelor Degree in Psychology/Sociology from the University of Wisconsin Madison. She currently serves as president of the Jefferson Elementary School PTA and resides in Manitowoc with her husband, Lux, and their four children. In her spare time, she enjoys family activities, watching sports, crafts, and enjoying the outdoors. She is also active in her church outreach program.
Bridget Bonde has been promoted to Assistant Executive Officer where she is responsible for the execution of numerous executive duties, and providing support to, the President and CEO, and to the Bank’s senior management team. Bonde joined the Bank in 2005 where she served in roles as a teller, loan processor, administrative assistant, and most recently as executive assistant. She is a Kiel High School graduate and went on to earn her Bachelor of Business Administration Degree from the University of Wisconsin Oshkosh, majoring in finance with an emphasis on cost management. Bonde resides in Kiel with her husband, Phil, and their daughter, Olivia. She enjoys camping and spending time with family and friends in her spare time.
Neil Koch has been promoted to Facilities Management Officer at the Bank. In this role, he is responsible for overall management of the Bank’s facilities, including overseeing and coordinating maintenance, repairs, and construction projects. He joined the Bank in 2002 as maintenance/grounds keeper for the 8th Street office in Manitowoc and was later promoted to facilities manager in 2009. He is a Manitowoc Lincoln High School graduate and a graduate of UW Manitowoc County. His hobbies include playing guitar, reading, disk golf, chess, growing roses, and dog geriatric care.
Crystal Wood has been promoted to Branch Manager – Officer at the Bank’s Mishicot office. Wood joined the bank in 2001 as an intern and was promoted to branch manager in 2013. She earned a diploma in retail banking from the American Bankers Association and is currently working towards her Bachelor’s Degree in Business Administration from the University of Wisconsin Green Bay. Active in her community, Wood is involved with Mishicot youth sports, Larrabee Sportsmen’s Club, and the Make-A-Wish Foundation. She also enjoys racing stock cars throughout the Midwest. She resides in Whitelaw with her husband, Don, and their twin daughters, Courtney and Josie.
Bank First reports fourth quarter net income of $3.1 million, declares cash dividend of $0.12 per common share
JANUARY 22, 2015 - Bank First National Corporation (BFNC) reported net income for the fourth quarter of 2014 of $3.1 million, or $0.49 per share, as compared to $2.9 million, or $0.45 per share, for the fourth quarter of 2013. For the year ended December 31, 2014, Bank First reported net income of $12.6 million, or $1.99 per share, as compared to $11.6 million, or $1.79 per share, for the year ended December 31, 2013. This represents an 11.2% year-over-year increase in earnings per share.
“Our net income growth is directly related to our continued core deposit and loan growth, particularly in business banking services. The revenue growth we experienced from adding new banking relationships and expanding services to existing relationships was offset by a $1.2 million decrease in revenue from the sale and servicing of residential mortgage loans. This decline was felt industry wide as mortgage refinancing slowed during 2014,” said Mike Molepske, President and Chief Executive Officer at Bank First. “Our strong asset quality trends and consistent loan growth continue to provide significant value to our shareholders.”
Noninterest income was $7.8 million for 2014, up from $6.7 million in 2013. Noninterest expense was $21.9 million for 2014, down from $22.8 million in 2013. This combination led to a decrease in our efficiency ratio from 54.1% in 2013 to 49.7% in 2014, indicating a very efficient use of resources by the Bank. Total assets are $1.11 billion at December 31, 2014, up 5% from $1.06 billion at December 31, 2013.
The Corporation’s Board of Directors approved a quarterly cash dividend of $0.12 per common share payable on April 3, 2015, to shareholders of record on March 20, 2015.