First Financial reports Q2 EPS 37c, consensus 36c

Recorded a Q2 provision for credit losses of $5.89M vs. $5.57M in 2Q23 and $808K in 1Q24. Q2 net interest margin was 3.48% vs. 3.29% in 2Q23 and 3.34% in 1Q24. Tangible book value was $8.43 at quarter end from $8.24 at previous quarter end. “We are pleased with the second quarter results that are highlighted by strong loan growth and net interest margin expansion which resulted in increased net interest income for the quarter,” said F. Scott Dueser, CEO. “Our outlook is positive for the remainder of the year as we look to continue to remix our assets as cash flows from maturing securities are invested in loans and execute strategies to grow deposits in our markets. As always, we appreciate the support of customers, shareholders, and employees.”