- First Financial Corporation (THFF, Financial) reported a notable 68.8% increase in net income for Q1 2025.
- Net interest income reached a record $52.0 million, marking a 33.5% year-over-year increase.
- Average total loans grew by 20.80% to $3.84 billion, bolstered by the SimplyBank acquisition.
First Financial Corporation (THFF) announced a robust performance for the first quarter of 2025, with net income surging to $18.4 million, a 68.8% increase from $10.9 million in Q1 2024. The earnings per share (EPS) rose to $1.55, compared to $0.93 in the previous year, demonstrating the company's strong financial growth.
In Q1 2025, First Financial (THFF, Financial) reported a record net interest income of $52.0 million, representing a 33.5% increase from the same period last year. The net interest margin improved to 4.11%, up from 3.53% in Q1 2024, indicating effective management of interest-bearing assets and liabilities.
The average total loans advanced to $3.84 billion, a 20.80% increase year-over-year. This growth was partly attributed to the successful integration of SimplyBank, acquired in July 2024, which contributed to the expansion of both loans and deposits. Average total deposits also rose by 14.95% to $4.65 billion during the period.
First Financial (THFF, Financial) showcased improved asset quality, with nonperforming loans decreasing significantly to $10.2 million, or 0.26% of total loans, from $24.3 million, or 0.76%, a year ago. The efficiency ratio also improved to 57.54% from 67.21%, reflecting enhanced operational efficiency.
These positive financial metrics underscore First Financial Corporation's strong position and continued growth potential. The company remains well-capitalized, maintaining a steady course for future profitability and sustainable expansion.
