Welcome to our dedicated page for First Financial news (Ticker: THFF), a resource for investors and traders seeking the latest updates and insights on First Financial stock.
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.
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First Financial Corporation (NASDAQ:THFF) reported its Q1 2023 results, revealing a net income of $16.0 million, down from $20.9 million in Q1 2022. The diluted earnings per share (EPS) also decreased to $1.33 from $1.67. Return on average assets fell to 1.32% from 1.63% year-over-year. However, pre-tax, pre-provision net income rose to $21.4 million, a slight increase from $19.7 million in the same period last year. Total loans outstanding increased by 9.82% year-over-year, reaching $3.08 billion. Average total deposits decreased by 4.66% to $4.17 billion, with a notable drop of $203.5 million from the previous quarter. The net interest income increased by 17.25% to $44.3 million, with a net interest margin improvement to 3.96%.
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.