Bank First Corp (BFC) shareholders
BFCNasdaqNational Commercial BanksFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 6, 2026Score 13/3036% above fair value
$150.04−0.42 (-0.28%)
Close on Nov 12, 2026Market cap $1.66BP/E 18.8Yield 3.53%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
37.7%
4M of 11M shares
Institutional holders
170
34 new, 10 sold out
Net institutional buying
0M
In Q2 2026
Insider trades, 12 months
5 buys · 3 sales
Net sold $2.33M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 696,520 | 6.70% | 13G (passive) amendment | Dec 31, 2023 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of BFC | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 821,389 | 7.41% | $121.85M | +59,190 | 0.00% |
| Vanguard Capital Management LLC | 465,415 | 4.20% | $69.04M | −5,563 | 0.00% |
| State Street Corp | 437,337 | 3.95% | $65.10M | +88,850 | 0.00% |
| Geode Capital Management, LLC | 296,453 | 2.67% | $43.99M | +14,346 | 0.00% |
| Dimensional Fund Advisors LP | 187,678 | 1.69% | $27.84M | +28,000 | 0.01% |
| Merit Financial Group, LLC | 174,046 | 1.57% | $25.82M | −2,681 | 0.16% |
| Vanguard Portfolio Management LLC | 146,537 | 1.32% | $21.74M | +10,607 | 0.00% |
| Northern Trust Corp | 104,085 | 0.94% | $15.44M | +5,680 | 0.00% |
| Bank Of Montreal /Can/ | 103,836 | 0.94% | $15.40M | – | 0.01% |
| Charles Schwab Investment Management Inc | 85,178 | 0.77% | $12.64M | +1,211 | 0.00% |
| First Trust Advisors LP | 70,605 | 0.64% | $10.47M | −2,431 | 0.01% |
| Vanguard Fiduciary Trust Co | 68,220 | 0.62% | $10.12M | +413 | 0.00% |
| Creative Planning | 59,058 | 0.53% | $8.76M | +378 | 0.01% |
| J.W. Cole Advisors, Inc. | 52,307 | 0.47% | $7.76M | New | 0.13% |
| Nicolet Bankshares Inc | 51,534 | 0.46% | $7.77M | +15 | 0.25% |
| Marshall Wace, Llp | 47,893 | 0.43% | $7.10M | +42,956 | 0.01% |
| Bank of New York Mellon Corp | 45,090 | 0.41% | $6.69M | +3,273 | 0.00% |
| Stifel Financial Corp | 42,467 | 0.38% | $6.30M | – | 0.01% |
| Morgan Stanley | 42,259 | 0.38% | $6.27M | +4,155 | 0.00% |
| Prairie Advisory, LLC | 37,140 | 0.34% | $5.51M | New | 1.29% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 170 | 4M | 37.7% | 34 / 65 | 34 / 10 | 1M | 0M |
| Q1 2026 | 150 | 4M | 34.7% | 24 / 44 | 50 / 17 | 1M | 0M |
| Q4 2025 | 145 | 4M | 33.5% | 24 / 42 | 50 / 12 | 0M | 0M |
| Q3 2025 | 133 | 4M | 34.3% | 31 / 47 | 23 / 13 | 1M | 0M |
| Q2 2025 | 116 | 3M | 29.6% | 12 / 44 | 35 / 14 | 0M | 0M |
| Q1 2025 | 118 | 3M | 29.4% | 10 / 33 | 43 / 8 | 0M | 0M |
| Q4 2024 | 117 | 3M | 29.2% | 16 / 40 | 32 / 9 | 0M | 0M |
| Q3 2024 | 112 | 3M | 27.5% | 21 / 43 | 24 / 5 | 1M | 0M |
| Q2 2024 | 97 | 3M | 26.4% | 8 / 39 | 25 / 13 | 0M | 0M |
| Q1 2024 | 104 | 3M | 28.3% | 12 / 28 | 32 / 13 | 0M | 0M |
| Q4 2023 | 105 | 3M | 27.8% | 22 / 34 | 25 / 2 | 0M | 0M |
| Q3 2023 | 85 | 3M | 25.8% | 8 / 25 | 30 / 4 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
168 funds held BFC in Q2 2026, 73% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of BFC | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 337,491 | 3.04% | $50.07M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 270,409 | 2.44% | $40.12M | 0.05% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Regional Banking ETF | 143,044 | 1.29% | $21.22M | 0.45% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 116,773 | 1.05% | $17.32M | 0.02% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 112,757 | 1.02% | $17.22M | 0.05% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 82,794 | 0.75% | $12.28M | 0.08% | Jun 30, 2026 |
| Vanguard Dividend Appreciation Index Fund | 57,458 | 0.52% | $8.78M | 0.01% | Jul 31, 2026 |
| Vanguard Russell 2000 Index Fund | 53,006 | 0.48% | $7.37M | 0.04% | May 31, 2026 |
| Fidelity Extended Market Index Fund | 52,645 | 0.47% | $7.32M | 0.02% | May 31, 2026 |
| Schwab U.S. Small-Cap ETF | 49,273 | 0.44% | $6.85M | 0.03% | May 31, 2026 |
| U.S. Small Cap Portfolio | 37,190 | 0.34% | $5.68M | 0.03% | Jul 31, 2026 |
| Dimensional U.S. Small Cap ETF | 36,735 | 0.33% | $5.61M | 0.04% | Jul 31, 2026 |
| iShares Micro-Cap ETF | 35,003 | 0.32% | $5.19M | 0.34% | Jun 30, 2026 |
| U.S. Micro Cap Portfolio | 25,931 | 0.23% | $3.96M | 0.05% | Jul 31, 2026 |
| Schwab Small-Cap Index Fund | 25,128 | 0.23% | $3.84M | 0.05% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Michael B. Molepske | Chairman and CEO, Director | 105,929 | 0.96% | Mar 10, 2026 |
| Timothy J. McFarlane | President, Director | 74,955 | 0.68% | Mar 10, 2026 |
| Meghann O. Kasper | Chief Credit Officer | 6,165 | 0.06% | Jun 17, 2026 |
| Kevin M. LeMahieu | Chief Financial Officer | 29,710 | 0.27% | Apr 10, 2026 |
| Kelly M. Dvorak | Chief Legal Counsel | 9,261 | 0.08% | Mar 10, 2026 |
| Jason V. Krepline | Chief Lending Officer | 32,704 | 0.30% | Mar 10, 2026 |
| Todd A. Sprang | Director | 2,431 | 0.02% | Oct 29, 2026 |
| Sistine Peter J. Van | Director | 7,640 | 0.07% | Sep 11, 2026 |
| Tracy C. Pearson | Director | 1,024 | 0.01% | Aug 24, 2026 |
| William J. Ring | Director | 2,590 | 0.02% | Aug 6, 2026 |
| SriRaj Kantamneni | Director | – | – | Aug 6, 2026 |
| Steven M. Eldred | Director | 135,964 | 1.23% | Jul 1, 2026 |
| Michael S. Stayer-Suprick | Director | 4,597 | 0.04% | Apr 23, 2026 |
| Daniel C. McConeghy | Director | 2,407 | 0.02% | Mar 19, 2026 |
| Robert D. Gregorski | Director | 39,010 | 0.35% | Mar 10, 2026 |
| Stephen E. Johnson | Director | 30,602 | 0.28% | Mar 10, 2026 |
| Phillip R. Maples | Director | 5,795 | 0.05% | Mar 10, 2026 |
| Mary Kay Bourbulas | Director | 8,126 | 0.07% | Mar 10, 2026 |
| Erin A. Davis | Director | 2,927 | 0.03% | Mar 10, 2026 |
| Laura E. Kohler | Director | 5,373 | 0.05% | Mar 4, 2025 |
| Judy L. Heun | Director | 3,880 | 0.04% | Mar 4, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Todd A. Sprang Director | Oct 28, 2026 | Buy | +400 | $148.37 | $59.35K | 2,431 |
| Sistine Peter J. Van Director | Sep 11, 2026 | Sale | −1,848 | $155.57 | $287.49K | 7,640 |
| Tracy C. Pearson Director | Aug 17, 2026 | Buy | +1,024 | $156.97 | $160.74K | 1,024 |
| Steven M. Eldred Director | Jun 30, 2026 | Gift | −1,003 | $148.55 | $149.00K | 10,284 |
| Todd A. Sprang Director | Apr 22, 2026 | Buy | +450 | $138.96 | $62.53K | 2,015 |
| Michael S. Stayer-Suprick Director | Apr 21, 2026 | Buy | +225 | $140.04 | $31.51K | 4,597 |
| Kevin M. LeMahieu Chief Financial Officer | Apr 9, 2026 | Gift | −1,785 | $142.61 | $254.56K | 22,021 |
| Daniel C. McConeghy Director | Mar 6, 2026 | Award | +407 | $135.23 | $55.04K | 2,407 |
| Erin A. Davis Director | Mar 6, 2026 | Award | +407 | $135.23 | $55.04K | 2,927 |
| Jason V. Krepline Chief Lending Officer | Mar 6, 2026 | Tax withholding | −745 | $135.23 | $100.75K | 32,704 |
| Jason V. Krepline Chief Lending Officer | Mar 6, 2026 | Award | +1,380 | $135.23 | $186.62K | 33,449 |
| Sistine Peter J. Van Director | Mar 6, 2026 | Award | +407 | $135.23 | $55.04K | 9,488 |
| Kelly M. Dvorak Chief Legal Counsel | Mar 6, 2026 | Tax withholding | −397 | $135.23 | $53.69K | 9,261 |
| Kelly M. Dvorak Chief Legal Counsel | Mar 6, 2026 | Award | +1,029 | $135.23 | $139.15K | 9,658 |
| Kevin M. LeMahieu Chief Financial Officer | Mar 6, 2026 | Award | +2,316 | $135.23 | $313.19K | 23,806 |
| Stephen E. Johnson Director | Mar 6, 2026 | Award | +407 | $135.23 | $55.04K | 27,690 |
| Phillip R. Maples Director | Mar 6, 2026 | Award | +407 | $135.23 | $55.04K | 4,251 |
| Michael B. Molepske Chairman and CEO, Director | Mar 6, 2026 | Award | +4,470 | $135.23 | $604.48K | 57,398 |
| Michael B. Molepske Chairman and CEO, Director | Mar 6, 2026 | Tax withholding | −2,277 | $135.23 | $307.92K | 55,121 |
| Timothy J. McFarlane President, Director | Mar 6, 2026 | Award | +2,793 | $135.23 | $377.70K | 68,646 |
| Michael S. Stayer-Suprick Director | Mar 6, 2026 | Award | +407 | $135.23 | $55.04K | 4,372 |
| Todd A. Sprang Director | Mar 6, 2026 | Award | +407 | $135.23 | $55.04K | 1,561 |
| Mary Kay Bourbulas Director | Mar 6, 2026 | Award | +407 | $135.23 | $55.04K | 8,126 |
| Robert D. Gregorski Director | Mar 6, 2026 | Award | +407 | $135.23 | $55.04K | 39,010 |
| Michael B. Molepske Chairman and CEO, Director | Feb 18, 2026 | Gift | −1,450 | $146.53 | $212.47K | 47,449 |
| Steven M. Eldred Director | Feb 11, 2026 | Sale | −8,000 | $151.95 | $1.22M | 125,680 |
| Steven M. Eldred Director | Feb 6, 2026 | Sale | −8,000 | $145.02 | $1.16M | 133,680 |
| Todd A. Sprang Director | Jan 27, 2026 | Buy | +150 | $141.06 | $21.16K | 1,158 |
| Kevin M. LeMahieu Chief Financial Officer | Sep 3, 2025 | Gift | −2,000 | $128.50 | $257.00K | 21,438 |
| Michael S. Stayer-Suprick Director | Aug 19, 2025 | Buy | +410 | $122.67 | $50.29K | 3,965 |
| Michael B. Molepske Chairman and CEO, Director | May 22, 2025 | Gift | −2,144 | $115.32 | $247.25K | 48,899 |
| Daniel C. McConeghy Director | Mar 4, 2025 | Buy | +380 | $105.72 | $40.17K | 2,000 |
| Kelly M. Dvorak Chief Legal Counsel | Mar 3, 2025 | Award | +1,008 | $105.96 | $106.81K | 8,511 |
| Kevin M. LeMahieu Chief Financial Officer | Mar 3, 2025 | Tax withholding | −1,190 | $105.96 | $126.09K | 23,129 |
| Kevin M. LeMahieu Chief Financial Officer | Mar 3, 2025 | Award | +2,268 | $105.96 | $240.32K | 24,319 |
| Robert D. Gregorski Director | Mar 3, 2025 | Award | +520 | $105.96 | $55.10K | 38,603 |
| Daniel C. McConeghy Director | Mar 3, 2025 | Award | +520 | $105.96 | $55.10K | 1,620 |
| Jason V. Krepline Chief Lending Officer | Mar 3, 2025 | Award | +1,353 | $105.96 | $143.36K | 31,973 |
| Jason V. Krepline Chief Lending Officer | Mar 3, 2025 | Tax withholding | −946 | $105.96 | $100.24K | 31,027 |
| Michael B. Molepske Chairman and CEO, Director | Mar 3, 2025 | Tax withholding | −2,780 | $105.96 | $294.57K | 52,928 |
| Michael B. Molepske Chairman and CEO, Director | Mar 3, 2025 | Award | +4,377 | $105.96 | $463.79K | 55,708 |
| Stephen E. Johnson Director | Mar 3, 2025 | Award | +520 | $105.96 | $55.10K | 27,283 |
| Sistine Peter J. Van Director | Mar 3, 2025 | Award | +520 | $105.96 | $55.10K | 8,298 |
| Erin A. Davis Director | Mar 3, 2025 | Award | +520 | $105.96 | $55.10K | 2,520 |
| Mary Kay Bourbulas Director | Mar 3, 2025 | Award | +520 | $105.96 | $55.10K | 7,569 |
| Michael S. Stayer-Suprick Director | Mar 3, 2025 | Award | +520 | $105.96 | $55.10K | 3,555 |
| Timothy J. McFarlane President, Director | Mar 3, 2025 | Award | +2,736 | $105.96 | $289.91K | 65,853 |
| Laura E. Kohler Director | Mar 3, 2025 | Award | +520 | $105.96 | $55.10K | 5,373 |
| Phillip R. Maples Director | Mar 3, 2025 | Award | +520 | $105.96 | $55.10K | 3,844 |
| Judy L. Heun Director | Mar 3, 2025 | Award | +520 | $105.96 | $55.10K | 3,880 |
| Michael S. Stayer-Suprick Director | Feb 19, 2025 | Buy | +1,000 | $102.07 | $102.07K | 3,035 |
| Stephen E. Johnson Director | Dec 3, 2024 | Sale | −2,400 | $106.28 | $255.07K | 26,763 |
| David R. Sachse Director | Apr 23, 2024 | Gift | −1,230 | $79.28 | $97.51K | 23,856 |
| Mary Kay Bourbulas Director | Mar 15, 2024 | Buy | +300 | $82.75 | $24.83K | 7,003 |
| Mary Kay Bourbulas Director | Mar 15, 2024 | Buy | +300 | $83.00 | $24.90K | 6,703 |
| Timothy J. McFarlane President, Director | Mar 1, 2024 | Award | +3,066 | $85.85 | $263.22K | 63,117 |
| Mary Kay Bourbulas Director | Mar 1, 2024 | Award | +641 | $85.85 | $55.03K | 6,353 |
| Robert D. Gregorski Director | Mar 1, 2024 | Award | +641 | $85.85 | $55.03K | 34,317 |
| Laura E. Kohler Director | Mar 1, 2024 | Award | +641 | $85.85 | $55.03K | 4,853 |
| Judy L. Heun Director | Mar 1, 2024 | Award | +641 | $85.85 | $55.03K | 3,360 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
5.92%
1M shares short
Days to cover
6.6
At 0M shares a day
Change since last report
-2.1%
From 1M shares
Short volume, 20 days
66.5%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of Bank First's stock actually held short. Settlement fails (shares not delivered on time) peaked at 2,564 shares on Aug 25, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Stephen E. Johnson Director | Dec 3, 2024 | 2,400 | $255.89K | Dec 3, 2024 | Converted shares from merger |
| David R Sachse & Sandra J Sachse Living Trust Of 1999 Former Independent Director | Aug 29, 2024 | 1,000 | $92.97K | Aug 29, 2024 | Open Market Purchase |
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