First Financial Corporation Reports Second Quarter Results
First Financial reported Q2 net income of $22.7 million, or $1.91 per share, up from $18.6 million a year ago, driven by record net interest income of $61.2 million and an expanded net interest margin of 4.33%. Asset quality deteriorated as nonperforming loans jumped to $27.1 million from $9.8 million in the prior year, lifting the NPL ratio to 0.61% from 0.25%. Average total loans grew 14.8% year-over-year to $4.45 billion, aided by the March acquisition of CedarStone Financial.
Key figures
- Eps
- 1.91
- Revenue
- 61200000
- Revenue Yoy
- 16.2%
- Roa
- 1.48%
- Average total loans
- 4450000000
- Net interest margin
- 4.33%
- Nonperforming loans
- 27100000
- Book value per share
- 56.83
AI analysis
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