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Bank First Corporation Signs Agreement to Acquire PSB Holdings, Inc.
The merger would create a $7.6 billion regional bank and give Peoples shareholders more than an 80% premium, company officials said.
- On Tuesday, Bank First Corporation announced it entered a definitive agreement to acquire PSB Holdings, Inc. in an all-stock transaction valued at approximately $202.9 million.
- Bank First Chairman and Chief Executive Officer Mike Molepske stated the partnership combines two organizations that "believe deeply in relationship-based banking," expanding market presence across Wisconsin and Illinois.
- Under the terms, Peoples shareholders will receive 0.3470 shares of Bank First common stock per share, representing an over 80% market premium, while the combined organization will hold approximately $7.6 billion in assets.
- Enhanced digital banking solutions and expanded products will become available to customers, Peoples President and Chief Executive Officer Scott Cattanach said, noting the merger creates new employee opportunities.
- Subject to regulatory approval and shareholder consent, the companies expect to finalize the transaction and systems conversion in the fourth quarter of 2026 under customary closing conditions.
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Waterloo Cedar Falls Courier+27 Reposted by 27 other sources
Bank First Corporation Signs Agreement to Acquire PSB Holdings, Inc.
Highlights of the Announced Transaction
·Waterloo, United States
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Total News Sources28
Leaning Left1Leaning Right1Center17Last UpdatedBias Distribution90% Center
Bias Distribution
- 90% of the sources are Center
90% Center
C 90%
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