First Financial (THFF) Reports Strong Q1 2025 Earnings

By Bobby Samwell • Tuesday, April 22 15:15 • Permanent Link

First Financial Corporation (NASDAQ:THFF) has reported its first-quarter results for 2025, showcasing significant growth and improved financial performance compared to the same period in 2024.

Key Financial Metrics: Net income for the first quarter of 2025 was $18.4 million, a substantial increase from the $10.9 million reported for the same period in 2024. Diluted net income per common share stood at $1.55, compared to $0.93 for the same period in 2024. * Return on average assets increased to 1.34% from 0.91% for the three months ended March 31, 2024.

Loan and Deposit Growth: Average total loans for the first quarter of 2025 were $3.84 billion, a 20.80% increase compared to the same period in 2024. Total loans outstanding as of March 31, 2025, reached $3.85 billion, reflecting a 20.74% increase from March 31, 2024. * Average total deposits for the quarter ended March 31, 2025, increased to $4.65 billion, up 14.95% from March 31, 2024.

Shareholders' Equity and Book Value: Shareholders' equity at March 31, 2025, was $571.9 million, compared to $520.8 million on March 31, 2024. Book Value per share increased to $48.26 as of March 31, 2025, from $44.08 as of March 31, 2024, marking a 9.49% rise.

Net Interest Income and Margin: Net interest income for the first quarter of 2025 reached a record $52.0 million, reflecting a significant increase from the $38.9 million reported for the same period in 2024. The net interest margin for the quarter ended March 31, 2025, improved to 4.11% from 3.53% reported at March 31, 2024.

Asset Quality and Credit Metrics: Nonperforming loans as of March 31, 2025, decreased to $10.2 million from $24.3 million as of March 31, 2024. The provision for credit losses for the three months ended March 31, 2025, was $2.0 million, compared to $1.8 million for the same period in 2024.

Efficiency and Income Taxes: The Corporation's efficiency ratio improved to 57.54% for the quarter ending March 31, 2025, compared to 67.21% for the same period in 2024. Income tax expense for the three months ended March 31, 2025, increased to $5.4 million from $2.2 million for the same period in 2024.

Following these announcements, the company's shares moved 5.4%, and are now trading at a price of $46.22. If you want to know more, read the company's complete 8-K report here.

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