Bank First(BFC) - 2023 Q4 - Annual Report

7 them to maintain numerous branch offices, mount extensive advertising campaigns and invest in new technologies. The increasingly competitive environment is the result of changes in regulation, changes in technology and product delivery systems, additional financial service providers, and the accelerating pace of consolidation among financial services providers. Some of our non-banking competitors have fewer regulatory constraints and may have lower cost structures. In addition, some of our competitors hav ...