HIGHBuilt-inLoan_portfolio
74.1%
real estate loans
“10-K Item 1: 'loans secured by real estate made up approximately $2.67 billion, or 74.1%, of our loan portfolio'”
BFC · Concentration risk · 10-K extracted
Bank First (BFC) concentration risks
Updated
The most significant concentration Bank First discloses is real estate loans at 74.1%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Bank First’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH1
MEDIUM3
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inLoan_portfolio
49.3%
commercial real estate loans
“10-K Item 1: 'commercial real estate loans made up approximately $1.78 billion or 49.3% of our loan portfolio'”
MEDIUMBuilt-inGeographic
Wisconsin and Illinois
“10-K Item 1A: 'a significant majority of our loans and deposits are made to borrowers or received from depositors who live and/or primarily conduct business in Wisconsin and Illinois'”
MEDIUMBuilt-inRegulatory
OCC
“10-K Item 1: 'the Bank is a member of the Board of Governors of the Federal Reserve System (the “Federal Reserve”) and regulated by the Office of the Comptroller of the Currency (the “OCC”)'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Bank First Corporation's concentration risks are structural and reinforcing, centered on its loan book and footprint. Loans secured by real estate made up approximately $2.67 billion, or 74.1%, of the loan portfolio — a high-share concentration in a single asset class exposed to property values and the real estate cycle. Within that, commercial real estate loans alone made up approximately $1.78 billion, or 49.3%, a medium-share sub-concentration that means commercial property performance specifically, not just real estate broadly, is a meaningful swing factor. Geographically, a significant majority of the bank's loans and deposits are made to borrowers or received from depositors who live and/or primarily conduct business in Wisconsin and Illinois, a medium-share structural exposure tying results to those two states' economic conditions. A further structural factor is regulatory: the bank is a Federal Reserve member regulated by the OCC, meaning its business is shaped by a single supervisory framework. None of these are idiosyncratic counterparty risks. The real estate and commercial real estate concentrations are the ones most likely to move the verdict, particularly if compounded by weakness specific to Wisconsin and Illinois, while the OCC regulatory exposure is a background structural factor rather than an independent swing variable.
For the engine’s reasoning on BFC’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Banks - Regional
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AMAL | Amalgamated Financial Corp. | 2 | 1 | 0 | 3 |
| BFC● | Bank First Corporation | 1 | 3 | 0 | 4 |
| ACNB | ACNB Corporation | 1 | 1 | 0 | 2 |
| ALRS | Alerus Financial Corporation | 1 | 1 | 0 | 2 |
| AMTB | Amerant Bancorp Inc. | 0 | 1 | 1 | 2 |
| ABCB | Ameris Bancorp | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.