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Bank First National Corporation to Acquire Waupaca Bancorporation, Inc.

Published May 12, 2017
Hovde's client, Waupaca, WI-based Waupaca Bancorporation, Inc. has announced its merger with and into Manitowoc, WI-based Bank First National Corporation, Inc. (OTC Pink: BFNC) in a deal valued at $76.3 million.
Highlights of the deal include:
  • Cash and stock transaction with total cash consideration capped at 70%
  • Bank First will add eight additional branches throughout the Northern Wisconsin area and approximately $375 million in deposits
  • The transaction marks Bank First's first whole-bank transaction since it acquired Dairy State Financial Services, Inc. in 1999
  • The deal is subject to shareholder and regulatory approval and is expected to close in Q3 2017
  • This transaction marks Hovde's fifth announced Wisconsin bank M&A transaction and 49th announced Nationwide bank M&A transaction over the past two years
Hovde Group, LLC served as financial advisor to Waupaca Bancorporation, Inc.
Please click on the link above to download the full Transaction Alert for more information.