ENVIRONMENTAL

Bank First takes pride in its initiatives to reduce our environmental footprint. We have committed significant resources to reduce our carbon footprint in all our branches by using energy-efficient building practices in our newly constructed branches and by remodeling our existing branches to increase energy efficiency. We consistently use low-E energy-efficient windows, LED lighting, state-of-the-art air filtration systems, high-efficiency HVAC systems, recycled building materials, office furniture made from recycled materials, and low-flow bathroom fixtures to conserve water. Our operations are also largely paperless, reducing our reliance on trees and paper products. We maximize natural daylight in our new buildings, boosting employee wellness and reducing our reliance on electricity. We also link our buildings to bike paths and sidewalks when possible, benefiting our employees and the community. Committed to creating solutions and implementing environmentally friendly procedures, we have taken many actions over the years to reduce our footprint, some of which include:

• Using recycled facility products and donating furniture and other supplies when remodeling or constructing new offices.
• Updating our lighting systems to turn off lights when not in use automatically.
• Defaulting the printers to print from one-sided to two-sided.
• Reducing paper consumption by utilizing iPads for meeting materials.
• Rewarding customers for using e-statements versus paper statements.
• Installing water bottle filling units in the branches and providing each employee with a new eco-friendly water bottle to reduce bottled water consumption.
• Providing shredding days for our customers.

Photovoltaic Energy Production (PV/Solar)

Since the installation and monitoring began in December 2023, the rooftop solar array at the Bank’s Howard office has generated 42.26% of the branch’s total energy consumption through solar power (as of September 5, 2024). This system, pictured above, highlights the Bank’s commitment to reducing its carbon footprint and embracing renewable energy solutions. The rooftop array cuts down on traditional energy use and serves as a visible testament to the Bank’s forward-thinking approach to environmental responsibility.

SOCIAL

“Bank First is a relationship-based bank focused on providing innovative solutions that are value driven to the communities we serve.” We promise this to our employees, customers, communities, and shareholders. An integral part of this promise is community involvement. Our employees take great pride in serving our communities through volunteering, charitable contributions, education scholarships, and community development initiatives. In 2023, Bank First employees volunteered over 7,241 hours to our surrounding communities.

Our culture emphasizes our long-standing dedication to respecting others and having a workforce representative of the areas we serve. Diversity and inclusion are fundamental to our culture. We believe in attracting, retaining, and promoting quality talent and recognize that diversity strengthens us. Our talent acquisition team partners with hiring managers to source and present a diverse slate of qualified candidates to strengthen our organization.

As of December 31, 2023, 73% of our employees self-identified as female, and 5% self-identified as people of color. Twenty-seven percent (27%) of our Board and 46% of our Senior Management team identified as female. We continue to work on improving the representation of women and people of color across the Company.

We believe our employees are our greatest asset and that our future success depends on our ability to attract, retain, and develop employees. Bank First’s mission is to help employees grow personally and within their roles by creating employee-centric development plans and giving people the autonomy to succeed while holding them accountable to deliver results. Development plans are focused on career growth, personal development, training, mentoring, and community involvement. Employees are encouraged to enhance their skills further and seek additional training if desired. Bank First also promotes leadership training for its staff and provides tuition reimbursement for those looking to further their education.

We believe Bank First’s development plan process identifies employee strengths and determines where their skills and expertise can be best applied within the organization. Each year, employees are asked to complete a thorough self-evaluation where they can address any issues or concerns with their position. Employees are encouraged to raise their hands and let their supervisor know if there is a role in which they would be better suited. Employees can address these concerns at any time throughout the year – not just at review time. In addition, we have a strong internal hiring process. The Bank will always post an open position internally first to allow employees to take on a new role or develop themselves within a different bank department.

We help cultivate employees’ talent by providing internal mentoring and paying for further education and training opportunities most relevant to their career goals. We truly believe in celebrating the success of our employees, whether they find success within the organization or in a role outside the organization that utilizes their talents and helps them grow. We take pride in our current and former employees’ success and will provide the resources to help them grow, whether their long-term plans are to stay with the organization or leave for a role more appropriate to their goals.

As part of our effort to attract and retain employees, we offer a broad range of benefits, including health, dental and vision insurance, life and disability insurance, cell phone and health club reimbursement, employee assistance program, educational tuition reimbursement, annual clothing allowance, employee referral program, 401(k) retirement plan, and generous paid time off. We believe our compensation package and benefits are competitive with others in the industry. Bank First is a 6-time award winner of the “Best Banks to Work For” by American Banker.

The Bank is subject to the Community Reinvestment Act (the “CRA”), under which the Bank's regulator periodically assesses its record in meeting the credit needs of its service areas, including low and moderate-income neighborhoods. In its most recent CRA evaluation, the Bank received a rating of “Outstanding.” The Bank has a designated CRA officer who monitors the Bank’s compliance with this regulation.

GOVERNANCE

We believe that strong corporate governance and decision-making are the foundation of operating responsibly and necessary for creating long-term shareholder value. Our directors are required to complete training on safety and soundness, bank management, and bank regulation on an annual basis and receive regular training on identity theft, cybersecurity, the Bank Secrecy Act, fair lending, unfair and deceptive trade practices, and Regulation O throughout the year from our Compliance team. Our Governance and Nominating Committee also reviews the Bank’s entire portfolio of policies in detail every year to ensure that the policies are accurate and that the Bank complies with policy requirements.

The Company has adopted a Code of Business Conduct and Ethics, which applies to all directors and employees. All directors and employees are also subject to our Insider Trading Policy, which governs the trading of the Company’s securities, as well as our Compensation Clawback Policy, which allows the Bank to recover incentive compensation awarded in error due to a financial misstatement. These policies can be found here.