First Financial Q2 Net Income Hits $22.7M on Loan Growth, Margin Expansion
THFF sits 52% above its 52-week low of $51.21.
Summary
First Financial posted record Q2 net income of $22.7 million, or $1.91 per share, driven by strong organic loan growth and the CedarStone Financial acquisition. Net interest margin expanded to 4.33%, supported by higher average loans and deposits. The acquisition added $292 million in loans and $313 million in deposits during the quarter. This follows the Q1 10-Q which showed rising non-performing loans, but the Q2 results indicate improving profitability. The stock trades near its 52-week high, and the earnings beat may reinforce positive momentum.
At the time of this announcement, THFF was trading at $77.70 on NASDAQ in the Finance sector, with a market capitalization of approximately $923.6M. The 52-week trading range was $51.21 to $78.74. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.