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 Corporation (NASDAQ: THFF) has declared a semi-annual dividend of 53 cents per share, payable on January 15, 2021, to shareholders on record by the close of business January 8, 2021. This announcement totals $1.05 per share in dividends declared for the year 2020. First Financial Corporation operates as the holding company for First Financial Bank N.A., serving regions in Indiana, Illinois, Kentucky, and Tennessee.
First Financial Corporation (NASDAQ:THFF) announced a stock repurchase program allowing the buyback of up to 5% of its outstanding shares. The repurchase will occur through open market transactions, privately negotiated deals, or other legal means, with timing and quantities determined by management based on market conditions and stock performance. The shares will be held as authorized but unissued, potentially serving general corporate purposes.
First Financial Corporation (NASDAQ:THFF) reported a net income of $14.0 million for Q3 2020, up from $12.3 million in Q3 2019. Diluted earnings per share rose to $1.02 from $0.93. Year-to-date net income reached $38.1 million, a 15.6% increase compared to 2019. Total assets grew to $4.39 billion, with loans increasing by 3.19% year-over-year to $2.75 billion. Average total deposits surged to $3.59 billion, up 19.08%. However, nonperforming loans rose to $23.7 million, up from $14.4 million. The loan loss provision increased significantly to $4.43 million, reflecting COVID-19 impacts.
First Financial Corporation (NASDAQ:THFF) reported second quarter 2020 results, showing net income of $11.9 million, down from $12.6 million in 2019. Diluted earnings per share decreased to $0.87 from $1.02. However, year-to-date earnings rose to $24.1 million from $22.3 million. Total loans increased by 38.4% to $2.78 billion, while deposits grew 44.9% to $3.57 billion. The net interest income rose 20.65% to $35.9 million. COVID-19 has impacted operations, prompting an increase in reserves, but charge-offs remained relatively stable.
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