Bank First : Michael Molepske elected as Chairman of the Board at Bank First, David Sachse appointed as Lead Independent Director

N E W S R E L E A S E

P.O. Box 10, Manitowoc, WI 54221-0010

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FOR IMMEDIATE RELEASE

Michael Molepske elected as Chairman of the Board at Bank First, David Sachse appointed as Lead Independent Director

MANITOWOC, WI, June 23, 2022 - Bank First Corporation (NASDAQ: BFC) ("Bank First") is announcing the election of Michael B. Molepske as Chairman of the Board of Directors of Bank First Corporation and Bank First effective June 13, 2022. Mr. Molepske assumed the role from Michael G. Ansay, who will be retiring from the board in 2024. To facilitate a smooth transition of leadership to Mr. Molepske, Mr. Ansay stepped down from the role of Chairman with the intention of providing guidance and continuity to the board over the next two years. David R. Sachse has been elected as Lead Independent Director, succeeding Donald R. Brisch, who retired from the Board of Directors on June 13, 2022. The Board of Directors is confident that the industry knowledge, experience, and leadership of all its directors will continue to translate to outstanding customer experience and shareholder return.

Michael G. Ansay became a director of the corporation and bank in February 2010. In 2012, he was appointed as Vice-Chairman and assumed the role of Chairman in January 2013. Mr. Ansay's decision to transition his role as Chairman of the board brings to a close over a decade of remarkable service and visionary leadership to the organization. "On behalf of the board, shareholders, and employees of Bank First, we thank Mike for his contributions over the past 12 years," stated Mike Molepske. "We are grateful for his commitment to the bank and value his continued involvement over the next two years as we grow our organization."

Michael G. Ansay

Michael B. Molepske

Michael B. Molepske serves as President and Chief Executive Officer of Bank First Corporation and Bank First. He joined the bank in 2005 as Senior Loan Officer and Regional President. Mr. Molepske became a director of the corporation and bank in 2008. In 2008 and 2010, respectively, he was appointed Chief Executive Officer and President of the corporation.

Mr. Molepske is a proven leader with the vision and ability to successfully execute the bank's strategic initiatives. He has directed

Bank First through a period of exceptional growth and profitability, notably reflected in the bank's current strong asset quality and continued upward trend in earnings per share. The Board of Directors is confident in Mr. Molepske's abilities to move the organization forward, evidenced by his exceptional track record over the past 14 years. Mr. Molepske serves on the Board of Directors for RCS Foundation, Rahr-West Museum Foundation, and is the Chairman of the Officials Committee for the American Barefoot Club, a division of USA Water Ski and the World Barefoot Council, a division of the International Waterski & Wakeboard Federation. Additionally, he was recently elected to serve as the Pan- American Representative to the Board of Directors of the World Barefoot Council. He also serves as secretary and member of the Board of Directors of Ansay & Associates, LLC. Additionally, he serves on the Federal Reserve Chicago District's Community Depository Institutions Advisory Council.

David R. Sachse became a director of the corporation and bank in June 2010. With his extensive background in financial planning and analysis, internal audit and compliance, as well as acquisition structuring, Mr. Sachse offers a diverse range of business skills to the corporation. As Lead Independent Director, Mr. Sachse will serve as a liaison between the Chairman of the Board and the independent directors and will act as the chair of the Executive Committee.

David R. Sachse

Mr. Sachse serves as President and Owner of Landmark Consultants,

Inc., a consulting, research, and entrepreneurship business formed in 1993. Additionally, Mr. Sachse serves as minority owner and/or advisor to five successful ventures in eastern Wisconsin, including Nutrients, Milwaukee Forge, Heresite, DRS Central, and Terra Compactor, where he provides financial and operational counsel to these companies. Mr. Sachse also currently serves as Chairman of the Board of Directors of Landmark Group, Inc. and its wholly-owned subsidiary HTT, Inc., a company that designs and manufactures dies and metal stampings. Mr. Sachse currently serves on the board of directors for the Sheboygan County Economic Development Corporation and is an

active member of the Sheboygan County Economics Club. Mr. Sachse also currently serves on the board of directors of Ansay & Associates, LLC.

For more information about Bank First, visit www.bankfirst.com.

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Bank First Corporation provides financial services through its subsidiary, Bank First, which was incorporated in 1894. Bank First offers loan, deposit, and treasury management products at each of its 21 banking locations in Wisconsin. The bank has grown through both acquisitions and de novo branch expansion. The company employs approximately 279 full-time equivalent staff and has assets of approximately $2.9 billion. Insurance services are available through its bond with Ansay & Associates, LLC. Trust, investment advisory, and other financial services are offered through the bank's partnership with Legacy Private Trust, and an alliance with Morgan Stanley. The bank is a co-owner of a bank technology outfitter, UFS, LLC, which provides digital, core, cybersecurity, managed IT, and cloud services. Further information about Bank First Corporation is available by clicking on the Investor Relations tab at www.bankfirst.com.

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Forward Looking Statements: This news release may contain certain "forward-looking statements" that represent Bank First Corporation's expectations or beliefs concerning future events. Such forward-looking statements are about matters that are inherently subject to risks and uncertainties. Because of the risks and uncertainties inherent in forward looking statements, readers are cautioned not to place undue reliance on them, whether included in this news release or made elsewhere from time to time by Bank First Corporation or on its behalf. Bank First Corporation disclaims any obligation to update such forward-looking statements. In addition, statements regarding historical stock price performance are not indicative of or guarantees of future price performance.