Net income of $16.1 million and $31.5 million for the three and six months ended June 30, 2024, respectively Earnings per common share of $1.59 and $3.10 for the three and six months ended June 30, 2024, respectively Annualized return on average assets of 1.58% and 1.54% for the three and six months ended June 30, 2024, respectively Quarterly cash dividend of $0.40 per share declared, 14.3% higher than the prior quarter and a 33.3% increase from the prior-year second quarter MANITOWOC, Wis,, July 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 $16.1 million, or $1.59 per share, for the second quarter of 2024, compared with net income of $14.1 million, or $1.37 per share, for the prior-year second quarter. For the six months ended June 30, 2024, Bank First earned $31.5 million, or $3.10 per share, compared to $24.8 million, or $2.46 per share for the same period in 2023. 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 ("OREO"), the Bank reported adjusted net income (non-GAAP) of $15.7 million, or $1.56 per share, for the second quarter of 2024, compared with $14.6 million, or $1.42 per share, for the prior-year second quarter. For the first six months of 2024 adjusted net income (non-GAAP) totaled $31.1 million, or $3.06 per share, compared to $29.3 million, or $2.92 per share for the same period in 2023. Operating ResultsNet interest income ("NII") during the second quarter of 2024 was $33.0 million, down $0.3 million from the previous quarter and down $1.3 million from the second quarter of 2023. The impact of net accretion and amortization of purchase accounting related to interest-bearing assets and liabilities from past acquisitions ("purchase accounting") increased NII by $1.2 million, or $0.09 per share after tax, during the second quarter of 2024, compared to $1.2 million, or $0.09 per share after tax, during the previous quarter and $2.5 million, or $0.18 per share after tax, during the second quarter of 2023. Net interest margin ("NIM") was 3.63% for the second quarter of 2024, compared to 3.62% for the previous quarter and 3.77% for the second quarter of 2023. NII from purchase accounting increased NIM by 0.13%, 0.13% and 0.27% for each of these periods, respectively. While the Bank's average rate paid on interest-bearing liabilities continued to rise during the second quarter of 2024, the momentum of these increases has begun to slow while average rates earned on interest-earning assets continued a steady move higher. The increase in yields on interest-earnings assets was due to fixed-rate loans which matured and were renewed at higher rates during the quarter as well as higher prevailing market rates on recent new loan growth compared to the loan portfolio as a whole. The beneficial impact of the Bank's high percentage of noninterest-bearing deposits also ...