First Financial Corp Stock Price, News & Analysis

First Financial Corporation (NASDAQ:THFF) reported robust results for Q4 and the full year 2022. Net income surged to $16.5 million, up from $7.4 million in 2021, with diluted earnings per share rising to $1.37 from $0.58. For the full year, net income reached $71.1 million, a notable increase from $53.0 million. The return on average assets improved to 1.34%, and pre-tax, pre-provision net income rose to $21.7 million. Total loans grew by 14.5% year-over-year, while total deposits slightly increased by 1.7%. However, shareholder equity decreased by $107.3 million, reflecting a decline in the accumulated other comprehensive income.

First Financial Corporation (NASDAQ: THFF) has announced a semi-annual dividend of 54 cents per share, along with a special dividend of 20 cents, both payable on January 13, 2023. Shareholders of record by January 6, 2023 will benefit from these dividends. This announcement raises the total dividend declared for 2022 to $1.28 per share, signaling strong cash distribution to investors.

First Financial Corporation (NASDAQ: THFF) announced plans to enhance operational efficiency by closing and consolidating seven of its 72 branches due to increasing customer preference for online banking. This strategic move aims to save approximately $1.5 million annually in operating expenses, effective from Q1 2023. The company anticipates pre-tax charges of about $1.5 million during Q4 2022 and Q1 2023. The consolidations are expected to be completed by early 2023, aligning with regulatory requirements.

First Financial Corporation (NASDAQ:THFF) announced Q3 2022 earnings with net income increasing to $18.1 million from $16.1 million year-over-year. Diluted EPS rose to $1.50 compared to $1.24 in Q3 2021. Return on average assets was 1.43%, up from 1.34%. Total loans grew by 19.8% to $2.97 billion, while deposits rose 9.4% to $4.41 billion. Credit loss provisions amounted to $1.1 million, compared to a negative provision in Q3 2021. The efficiency ratio improved to 55.72%.

First Financial Corporation (NASDAQ:THFF) reported Q2 2022 net income of $15.6 million, down from $16.6 million in Q2 2021. However, diluted earnings per share rose to $1.27 from $1.24, driven by a strong loan growth of 7.86% year-over-year. Total loans reached $2.89 billion, showing a 12.41% increase. Average total deposits rose by 10.93% to $4.42 billion. Despite the positives, return on average assets declined to 1.24%. The corporation also reported a credit loss provision of $750,000 compared to a negative provision of $2.3 million last year.

The directors of First Financial Corporation (NASDAQ: THFF) have announced a semi-annual dividend of 54 cents per share, payable on July 1, 2022, to shareholders recorded by the close of business on June 17, 2022. This declaration brings the total dividend for 2022 to $1.17 per share, reflecting a 1.9% increase from 2021, marking the 34th consecutive year of increased regular dividends. The corporation serves as the holding company for First Financial Bank N.A., operating in Indiana, Illinois, Kentucky, and Tennessee.

First Financial Corporation (NASDAQ:THFF) reported a strong performance for Q1 2022, with net income of $20.9 million, up from $12.9 million in Q1 2021. Diluted earnings per share rose to $1.67 from $0.95, reflecting a return on average assets of 1.63%. Total loans increased by 5.96% year-over-year to $2.80 billion, and total deposits rose 12.54% to $4.40 billion. Despite a decline in book value per share to $42.25, efficiency ratio improved to 59.54%.

First Financial Corporation (NASDAQ:THFF) has announced a new stock repurchase program, authorizing the buyback of up to 10% of its outstanding common stock. This initiative allows repurchases in the open market or through negotiated transactions, depending on market conditions and legal requirements. Shares will be held as authorized but unissued, aimed at bolstering shareholder value and supporting corporate flexibility.

First Financial Corporation (NASDAQ:THFF) reported its financial results for Q4 2021, showcasing a net income of $7.4 million, down from $15.7 million in Q4 2020. The decrease is attributed to $1.0 million in merger expenses from the acquisition of Hancock Bancorp and $4.0 million in related provisions. Although total loans rose by 7.88% year-over-year to $2.82 billion, net interest income fell to $36.8 million, with a net interest margin of 3.08%. Total deposits increased by 17.40% to $4.41 billion. The efficiency ratio worsened to 68.37% from 60.60% a year prior.