Net income of $15.4 million and earnings per common share of $1.51 for the three months ended March 31, 2024 Annualized return on average assets of 1.50% for the three months ended March 31, 2024 261,340 common shares repurchased, 2.5% of outstanding shares as of the beginning of the period, during the first quarter of 2024 Quarterly cash dividend of $0.35 per share declared, matching the prior-quarter and 16.7% higher than the prior-year first quarter MANITOWOC, Wis., April 16, 2024 /PRNewswire/ -- Bank First Corporation (NASDAQ:BFC) ("Bank First" or the "Bank"), the holding company for Bank First, N.A., reported net income of $15.4 million, or $1.51 per share, for the first quarter of 2024, compared with net income of $10.7 million, or $1.09 per share, for the prior-year first quarter. After removing the impact of one-time expenses related to acquisitions, as well as gains and losses on sales of securities and other real estate owned, the Bank reported adjusted net income (non-GAAP) of $15.4 million, or $1.51 per share, for the first quarter of 2024, compared with $14.7 million, or $1.50 for the prior-year first quarter. Operating ResultsNet interest income ("NII") during the first quarter of 2024 was $33.3 million, up $0.4 million from the previous quarter and up $1.1 million from the first quarter of 2023. The impact of purchase accounting increased NII by $1.2 million, or $0.09 per share after tax, during the first quarter of 2024, compared to $0.4 million, or $0.03 per share after tax, during the previous quarter and $1.2 million, or $0.17 per share after tax, during the first quarter of 2023. Net interest margin ("NIM") was 3.62% for the first quarter of 2024, compared to 3.53% for the previous quarter and 3.74% for the first quarter of 2023. NII from purchase accounting increased NIM by 0.13%, 0.03% and 0.26% for each period, respectively. Bank First recorded a provision for credit losses of $0.2 million during the first quarter of 2024, compared to $0.5 million during the previous quarter and $4.2 million during the first quarter of 2023. Net recoveries of previously charged-off loan balances over currently charged-off loans totaled $0.6 million during the first quarter of 2024, adding to the recorded provision for credit losses in creating an adequate credit loss reserve for the Bank's growth in its loan portfolio. The acquisition ...