First Financial Corporation reports recurring developments tied to its role as the holding company for First Financial Bank N.A., a banking subsidiary operating in Indiana, Illinois, Kentucky, Tennessee, and Georgia. Company updates commonly cover quarterly and annual operating results, loan growth, net interest margin, provision for credit losses, return metrics, and tangible common equity measures.
News also includes quarterly dividend declarations and completed bank acquisition activity, including acquired loans and deposits when transactions affect the balance sheet. The company's business disclosures center on commercial, mortgage, and consumer lending, lease financing, deposit services, trust services, insurance services, and investment-related revenue.
First Financial (NASDAQ: THFF) announced a quarterly dividend of 45 cents per share. This dividend will be paid on July 15, 2024, to shareholders recorded by the close of business on July 1, 2024. First Financial operates First Financial Bank N.A. across Indiana, Illinois, Kentucky, and Tennessee.
First Financial reported a net income of $10.9 million for Q1 2024 compared to $16.0 million in Q1 2023. Diluted net income per share was $0.93 versus $1.33 for the same period in 2023. Return on average assets decreased to 0.91% from 1.32% in Q1 2023. Credit loss provision remained unchanged at $1.8 million. Pre-tax, pre-provision net income was $14.9 million versus $21.4 million in Q1 2023. Total loans outstanding and deposits increased, while nonperforming loans, net interest income, and net interest margin saw declines.
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