First Financial Bancorp Q2 adjusted EPS hits record on loan growth - FFBC News | RalliesFirst Financial Bancorp Q2 adjusted EPS hits record on loan growth
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FFBC• Outlook
- Company expects net interest margin to remain stable in near-term if rates do not change
- First Financial anticipates healthy loan production and solid growth in third qtr
- Company expects fee income to rebound in third qtr after second qtr decline
- Finward Bancorp acquisition expected to be 5% accretive to earnings per share
Overview
- U.S. regional bank's Q2 adjusted EPS hit record, reported EPS rose sequentially to $0.73
- Company increased quarterly dividend and agreed to acquire Finward Bancorp in all-stock deal
- Loan growth of $240 mln, or 7.1% annualized, supported quarterly results
Key Details
| Metric | Actual |
|---|
| Q2 EPS | $0.73 |
| Q2 Net Income | $76.46 mln |
| Q2 Net Interest Income | $190.38 mln |
| Q2 Basic EPS | $0.74 |
| Q2 CET1 Capital Ratio | 12.33% |
| Q2 Credit Loss Allowance | $208.2 mln |
Result Drivers
- Loan growth and acquisitions - Co said record adjusted EPS was driven by increases in earning assets from organic loan growth and recent acquisitions
