First Financial Corp

NASDAQ:THFFUnited States

Oct 22, 2024

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• First Financial Shares Higher After Q3 Results, from 2:10PM ET on Tuesday Oct 22, 2024 by MT Newswires

  2:10PM ET on Tuesday Oct 22, 2024 by MT Newswires
  Companies Mentioned: THFF
  02:10 PM EDT, 10/22/2024 (MT Newswires) -- First Financial (THFF) shares were about 0.7% higher in recent Tuesday trading following its Q3 results. The bank holding company reported Q3 earnings of $0.74 per diluted share, down from $1.37 a year earl...

• -- Earnings Flash (THFF) FIRST FINANCIAL CORPORATION Posts Q3 EPS $0.74, from 10:01AM ET on Tuesday Oct 22, 2024 by MT Newswires

  10:01AM ET on Tuesday Oct 22, 2024 by MT Newswires
  Companies Mentioned: THFF
  10:01 AM EDT, 10/22/2024 (MT Newswires) -- ...

• First Financial Corporation Reports Third Quarter Results, from 10:00AM ET on Tuesday Oct 22, 2024 by Dow Jones

  10:00AM ET on Tuesday Oct 22, 2024 by Dow Jones
  Companies Mentioned: THFF
  Short-term borrowings 84,363 67,221 FHLB advances 30,456 108,577 Other liabilities 85,092 57,304 ---------- --------- TOTAL LIABILITIES 4,917,400 4,323,170 Shareholders' equity Common stock, $.125 stated value per share; Authorized shares-40,000,000 Issued shares-16,165,023 in 2024 and 16,137,220 in 2023 Outstanding shares-11,808,304 in 2024 and 11,795,024 in 2023 2,016 2,014 Additional paid-in capital 144,785 144,152 Retained earnings 677,155 663,726 Accumulated other comprehensive income/(loss) (102,800) (127,087) Less: Treasury shares at cost-4,356,719 in 2024 and 4,342,196 in 2023 (155,205) (154,829) ---------- --------- TOTAL SHAREHOLDERS' EQUITY 565,951 527,976 ---------- --------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 5,483,351 $ 4,851,146 ========== ========= CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Dollar amounts in thousands, except per share data) Three Months Ended Nine Months Ended September 30, September 30, ------------------ --------------------- 2024 2023 2024 2023 ------- --------- -------- ----------- (unaudited) ------------------ --------------------- INTEREST INCOME: Loans, including related fees $61,367 $ 49,146 $162,878 $140,220 Securities: Taxable 6,319 6,164 18,083 18,631 Tax-exempt 2,715 2,661 7,919 7,937 Other 1,294 752 2,989 2,864 ------ ------- ------- ------- TOTAL INTEREST INCOME 71,695 58,723 191,869 169,652 ------ ------- ------- ------- INTEREST EXPENSE: Deposits 22,197 13,627 59,622 35,111 Short-term borrowings 993 1,923 2,928 4,025 Other borrowings 1,335 2,023 3,935 2,844 ------ ------- ------- ------- TOTAL INTEREST EXPENSE 24,525 17,573 66,485 41,980 ------ ------- ------- ------- NET INTEREST INCOME 47,170 41,150 125,384 127,672 Provision for credit losses 9,400 1,200 14,166 4,800 ------ ------- ------- ------- NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 37,770 39,950 111,218 122,872 NON-INTEREST INCOME: Trust and financial services 1,251 1,140 3,903 3,642 Service charges and fees on deposit accounts 8,139 7,099 21,576 20,971 Other service charges and fees 191 213 700 613 Securities gains (losses), net 103 -- 104 -- Interchange income 177 -- 490 47 Loan servicing fees 274 447 957 997 Gain on sales of mortgage loans 411 321 886 811 Other 677 2,407 1,943 4,374 ------ ------- ------- ------- TOTAL NON-INTEREST INCOME 11,223 11,627 30,559 31,455 ------ ------- ------- ------- NON-INTEREST EXPENSE: Salaries and employee benefits 18,521 17,159 53,231 51,263 Occupancy expense 2,556 2,389 7,116 7,120 Equipment expense 4,280 3,580 12,736 10,404 FDIC Expense 558 613 1,721 1,977 Other 12,649 8,524 29,833 25,168 ------ ------- ------- ------- TOTAL NON-INTEREST EXPENSE 38,564 32,265 104,637 95,932 ------ ------- ------- ------- INCOME BEFORE INCOME TAXES 10,429 19,312 37,140 58,395 Provision for income taxes 1,688 3,027 6,106 10,143 ------ ------- ------- ------- NET INCOME 8,741 16,285 31,034 48,252 OTHER COMPREHENSIVE INCOME (LOSS) Change in unrealized gains/(losses) on securities, net of reclassifications and taxes 31,628 (34,934) 24,067 (36,504) Change in funded status of post retirement benefits, net of taxes 73 146 220 440 ------ ------- ------- ------- COMPREHENSIVE INCOME (LOSS) $40,442 $(18,503) $ 55,321 $ 12,188 ====== ======= ======= ======= PER SHARE DATA Basic and Diluted Earnings per Share $ 0.74 $ 1.37 $ 2.63 $ 4.02 ------ ------- ------- ------- Weighted average number of shares outstanding (in thousands) 11,808 11,901 11,809 11,993 ====== ======= ======= =======
  

• *DJ First Financial (Indiana) 3Q EPS 74c >THFF, from 10:00AM ET on Tuesday Oct 22, 2024 by Dow Jones

  10:00AM ET on Tuesday Oct 22, 2024 by Dow Jones
  Companies Mentioned: THFF