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Charter Bank, a wholly-owned subsidiary of Charter Bankshares, Inc., (“Charter Bank”) and Bank First, a wholly-owned subsidiary of Bank First Corporation (Nasdaq: BFC) (“Bank First”) jointly announced today that Charter Bank has purchased liabilities (deposit accounts and safe deposit boxes) from Bank First’s branch in Chetek, Wis., in a cash transaction.
As part of the agreement, Bank First will maintain assets (loans) and will continue to service loan customers. The sale occurred on Dec. 11, 2020, with system conversions occurring over the weekend. On Monday, Dec. 14, 2020, the branch in Chetek opened as a Charter Bank location.
“On behalf of Charter Bank, I wish to welcome the customers and employees who are joining us through this acquisition,” stated Paul Kohler, President and CEO of Charter Bank. “As I said before, this will be Charter Bank’s first location in Barron County, but this is familiar territory for us. Charter B ....

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