Bank First Corporation (“Bank First”) the holding company of Bank First, N.A., has announced that it has received approval from the required regulatory agencies to merge with Hometown Bancorp, Ltd. (“Hometown”), parent company of Hometown Bank.
“We are pleased to have obtained all required regulatory approvals for our upcoming merger with Hometown Bank,” stated Mike Molepske, chairman of the Board, chief executive officer, and president at Bank First. “This approval brings us one step closer to the highly anticipated combination of our two organizations. Our conversion teams have been working diligently over the past few months to ensure a smooth transition for our valued customers. We look forward to a successful closing in February and are eager to build upon the strong relationships established in the Hometown communities.”
Upon completion of the merger, Tim McFarlane, president and chief executive officer at Hometown Bank, will assume the role of president and will join the Board of Directors of Bank First, N.A. He will also be nominated to the Bank First Corporation Board of Directors. Molepske will continue serving as chief executive officer and chairman of the Boards of Directors of Bank First Corporation and Bank First, N.A.
In September 2022, Bank First announced branch optimization plans which included the consolidation of Hometown Bank’s two Fond du Lac offices. Upon further review, both Fond du Lac offices will remain open following the merger. While Bank First intends to eventually consolidate into one Fond du Lac location, the bank is evaluating options as it pertains to use of space, renovation possibilities, as well as customer convenience.
Hometown Bank will seek approval of the merger from its shareholders at a special meeting. Subject to that approval, the merger of the two organizations is scheduled for Friday, February 10, 2023. The systems conversion will occur over that weekend, and the Cambridge, Fond du Lac, Pardeeville, Poynette, and Wautoma offices will open as Bank First branches on Monday, February 13, 2023. Hometown Bank offices in Appleton, Neshkoro, Redgranite, and St. Cloud will be consolidated into nearby offices.