First Financial Q3 EPS $0.74; net income drops 47% YoY; closes SimplyBank acquisition

FIRST FINANCIAL CORP /IN/

2024-Q3 EPS reported $2.63

Net income $8.7M vs $16.3M YoY; diluted EPS $0.74 vs $1.37.
Credit loss provision surged to $9.4M from $1.2M; $5.5M related to SimplyBank acquisition.
Total loans increased $511M linked quarter to $3.72B, driven by $467M in acquired SimplyBank loans.
Net interest margin expanded 21 bps to 3.78% from 3.57% linked quarter; net interest income $47.2M up 14.6% YoY.
Quarterly dividend of $0.45 per share declared and paid.

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