First Financial Q1 net income $16.0M, EPS $1.33; NIM expands 80 bps to 3.96%

FIRST FINANCIAL CORP /IN/

2023-Q1 EPS reported $1.33

Net income of $16.0M vs $20.9M in Q1 2022 (which included a $4.0M legal settlement and pandemic reserve releases).
Pre-tax, pre-provision net income rose to $21.4M from $19.7M; net interest income up 17.25% to $44.3M.
Average loans grew 10.5% YoY to $3.07B; total deposits fell 5.2% to $4.17B.
Credit loss provision was $1.8M vs negative $6.6M a year ago; nonperforming loans increased to $12.1M (0.39% of loans).
Shareholder equity decreased to $505.5M due to $18M in share repurchases and dividends; tangible equity ratio 8.63%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST FINANCIAL CORP /IN/ reported the three months ended March 31, 2023 results: net income $16.0 million, EPS $1.33.

Period: the three months ended March 31, 2023
Net income: $16.0 million
EPS: $1.33
Result: reported results

Exact text from the filing

Net income was $16.0 million compared to the $20.9 million reported for the same period of 2022

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Source: SEC EDGAR

accession 0000714562-23-000014

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