Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › Bank First
Bank First 401(k)
- BFC Nasdaq
- Finance and insurance
- Manitowoc, WI
- EIN 39-1435359
- 1 plan with Schedule H financials
- Plan year 2024
- Bank First Corporation
- SEC registrant Bank First Corp
Administrative expenses excluding investment management, per participant · Bank First Retirement Plan · plan year 2024
$210.57
Higher than 86% of the 8,758 plans $50 to 250M that report it.
Source
= $107,812 / 512
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250626142302NAL0012932224001, received 2025-06-26
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250626142302NAL0012932224001, received 2025-06-26
Percentiles compare this plan with the Schedule H plans $50 to 250M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-06-26.
Cost and contributions
Administrative expenses per participant
$365.60
Higher than 91% of the 9,042 plans $50 to 250M that report it.
Source
= $187,187 / 512
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250626142302NAL0012932224001, received 2025-06-26
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250626142302NAL0012932224001, received 2025-06-26
Administrative expenses as a share of assets
0.276%
Higher than 84% of the 9,049 plans $50 to 250M that report it.
Source
= $187,187 / $67,866,177
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250626142302NAL0012932224001, received 2025-06-26
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250626142302NAL0012932224001, received 2025-06-26
Employer contributions per participant
$2,762
Higher than 51% of the 9,105 plans $50 to 250M that report it.
Source
= $1,414,061 / 512
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250626142302NAL0012932224001, received 2025-06-26
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250626142302NAL0012932224001, received 2025-06-26
Employer share of total contributions
27.5%
Higher than 43% of the 9,112 plans $50 to 250M that report it.
Source
= $1,414,061 / $5,147,779
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250626142302NAL0012932224001, received 2025-06-26
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250626142302NAL0012932224001, received 2025-06-26
Plan terms, as stated in Bank First Corporation's SEC filings
Employer match
“The Company discretionary match was 60% of participant contributions up to 10% of the employee’s salary in 2025 and 2024, and 35% of participant contributions up to 10% of the employee’s salary in 2023.”
Form 10-K filed 2026-02-27, for the year ended 2025-12-31 · benefits note, 10-K benefits note · source document
Eligibility
“Employees are eligible to participate in the Plan upon attaining 18 years of age and three months of service.”
Form 11-K filed 2026-06-26, for the year ended 2025-12-31 · plan description note, general (fallback) · source document
Terms quoted from the filing for the year ended 2025-12-31. Figures cover plan year 2024. The plan document governs.
Plan features
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2O ESOP-related feature · 2S pre-approved plan document · 2T default investment (QDIA) · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250626142302NAL0012932224001, received 2025-06-26
Full record, Bank First Retirement Plan
| Field | Value | Source |
|---|---|---|
| Plan sponsor | BANK FIRST CORPORATION | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Plan name | BANK FIRST RETIREMENT PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Sponsor EIN / plan number | 39-1435359 / 002 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Sponsor location | MANITOWOC, WI | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Industry (business code) | 522110, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Filing received | 2025-06-26 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Participants, beginning of year | 553 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Active participants | 366 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Participants, end of year | 523 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Participants with an account balance | 512 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Total assets, beginning of year | $63,632,463 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Total assets, end of year | $67,866,177 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Net assets, end of year | $67,866,177 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Total income | $13,058,240 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Net income | $4,233,714 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Employer contributions | $1,414,061 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Participant contributions | $2,840,077 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Other contributions (incl. rollovers) | $893,641 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Total contributions | $5,147,779 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Benefit payments | $8,637,339 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Total expenses (incl. benefit payments) | $8,824,526 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Total administrative expenses | $187,187 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Contract administrator fees | $89,875 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| IQPA audit fees | $17,937 | Schedule H, line 2i(4); IQPA_AUDIT_FEES_AMT pos 161; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Investment advisory and management fees | $79,375 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Administrative expenses excluding investment management | $107,812 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Held in common/collective trusts | $589,209 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Held in mutual funds | $40,443,186 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250626142302NAL0012932224001, received 2025-06-26 |
| Independent auditor | REILLY, PENNER & BENTON LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250626142302NAL0012932224001, received 2025-06-26 |
Position = column in the DOL layout for form year 2024. Filing 20250626142302NAL0012932224001, received 2025-06-26.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANYrecordkeeper | CONTRACT ADMINISTRATOR | 13 Contract administrator; 50 Direct payment from the plan; 64 Recordkeeping fees | $89,875 | yes |
| INDEPENDENT FINANCIAL | INVESTMENT ADVISORY | 27 Investment advisory (plan); 50 Direct payment from the plan | $79,375 | no |
| REILLY, PENNER & BENTON LLP | ACCOUNTANT | 10 Accounting (including auditing); 50 Direct payment from the plan | $17,937 | no |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250626142302NAL0012932224001, received 2025-06-26.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $63,632,463 | $67,866,177 | 6.7% |
| Participants with a balance | 534 | 512 | -4.1% |
| Administrative expenses | $173,636 | $187,187 | 7.8% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $1,453,606 | $1,414,061 | -2.7% |
Prior filing 20240625094442NAL0004741091001, received 2024-06-25; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: BANK FIRST CORPORATION; SEC registrant: Bank First Corp (CIK 1746109, matched by EIN; display name from the Form 11-K cover).