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NEWS RELEASE BankFirst CORPORATION P.O. Box 10 , Manitowoc , WI 54221-0010 For further information , contact : Kevin M LeMahieu , Chief Financial Officer Phone : ( 920 ) 652-3200 / klemahieu@bankfirstwi.bank FOR IMMEDIATE RELEASE Bank First Announces Net Income for the First Quarter of 2021 • • • • Net income of $ 11.5 million and earnings per common share of $ 1.49 for the three months ended March 31 , 2021 Annualized return on average assets of 1.67 % for the three months ended March 31 , 2021 , compared to 1.32 % for the first quarter of 2020 Annualized return on average common equity of 15.34 % for the three months ended March 31 , 2021 , compared to 12.45 % for the first quarter of 2020 Quarterly cash dividend of $ 0.21 per share declared , matching prior quarter and an increase of 5.0 % from prior - year first quarter MANITOWOC , Wis , April 20 , 2021 -- Bank First Corporation ( NASDAQ : BFC ) ( " Bank First " or the " Bank " ) , the holding company for Bank First , N.A. , reported net income of $ 11.5 million , or $ 1.49 per share , for the first quarter of 2021 , compared with net income of $ 7.3 million , or $ 1.03 per share , for the prior - year first quarter . Operating Results Net interest income during the first quarter of 2021 was $ 22.1 million , down $ 2.4 million from the previous quarter but up $ 3.5 million from the first quarter of 2020 . Throughout 2020 , and continuing into 2021 , Bank First has been a very active participant in the Paycheck Protection Program ( " PPP " ) , a Small Business Administration ( " SBA " ) loan program aimed at supporting small business through the turbulent economic environment created by the COVID - 19 pandemic ( " COVID " ) . This program provides funds to small businesses with very favorable loan terms and allows for forgiveness by the SBA provided the funds are utilized by the companies as stipulated by the program . Under the original rollout of this program during 2020 , Bank First originated over $ 279.6 million in loans to new and existing customers , $ 106.4 million of which remained unpaid and unforgiven as of March 31 , 2021. Under the second phase of this program , which began