First Financial (US:THFF)2025-10-28 14:01Loan Performance - Average total loans for Q3 2025 were $3.93 billion, an increase of $223 million or 6.02% from Q3 2024[5] - Total loans outstanding as of September 30, 2025, were $3.97 billion, up $252 million or 6.79% year-over-year[6] - Nonperforming loans as of September 30, 2025, were $19.3 million, with a ratio of 0.49% to total loans[16] - Nonperforming loans and other real estate owned totaled $19,400 thousand in Q3 2025, compared to $14,303 thousand in Q3 2024, indicating a rise in asset quality concerns[29] - The net charge-offs to average loans and leases ratio improved to 0.17% in Q3 2025 from 0.49% in Q3 2024, suggesting better credit performance[28] Financial Performance - Net income for Q3 2025 was $20.8 million, compared to $8.7 million for the same period in 2024, representing a 138.5% increase[8] - Net interest income for Q3 2025 reached a record $54.6 million, an increase of $7.4 million or 15.8% from Q3 2024[14] - Basic and diluted earnings per share increased to $1.75 in Q3 2025, compared to $0.74 in Q3 2024, highlighting strong profitability growth[32] - Total non-interest income for Q3 2025 was $11,149 thousand, slightly down from $11,223 thousand in Q3 2024, indicating stable revenue streams[32] Asset and Equity Growth - Shareholders' equity at September 30, 2025, was $622.2 million, an increase from $566.0 million a year earlier[11] - Book value per share increased to $52.50 as of September 30, 2025, up 9.55% from $47.93 a year ago[12] - Total assets reached $5,669,686 thousand as of September 30, 2025, up from $5,560,348 thousand at the end of 2024, indicating growth in the balance sheet[31] Credit Quality and Provisioning - The provision for credit losses for Q3 2025 was $2.0 million, significantly lower than the $9.4 million recorded in Q3 2024[17] - Provision for credit losses decreased to $1,950 thousand in Q3 2025 from $9,400 thousand in Q3 2024, reflecting improved credit quality[32] Operational Efficiency - The efficiency ratio improved to 56.63% in Q3 2025 from 59.37% in Q2 2025 and 64.43% in Q3 2024, demonstrating better operational efficiency[28] - The net interest margin for Q3 2025 was 4.25%, up from 3.78% in Q3 2024[15] Deposits and Capital Position - Average total deposits for Q3 2025 were $4.59 billion, a decrease of $114 million or 2.42% from Q3 2024[9] - Tier 1 leverage ratio increased to 11.05% in Q3 2025 from 10.91% in Q2 2025, indicating a stronger capital position[28]