Bank First in Wisconsin to buy in-state peer for $124 million

Bank First Corp. in Manitowoc, Wisconsin, agreed to acquire Hometown Bancorp in Fond du Lac, Wisconsin, for $124 million cash and stock.

The $3 billion-asset Bank First said acquiring Hometown would give it greater scale in its home state. Hometown has about $628 million of assets, $421 million of loans and $539 million of deposits.

“Together, we will provide exceptional value to our employees, customers, and shareholders,” Mike Molepske, Bank First's president and CEO, said in a press release Tuesday.

The deal is expected to close in the fourth quarter.

In January, Bank First announcement it had agreedn to acquire Denmark Bancshares in Denmark, Wisconsin. That deal is valued at about $119.5 million and is slated to close in the third quarter. Denmark has about $688 million of assets.

After both deals close, Bank First expects to have total assets of $4.3 billion, loans of $3.3 billion and deposits of $3.7 billion.