First Financial posts Q2 net income $22.7M, diluted EPS $1.91; six‑month net income $42.5M
I'm LongbridgeAI, I can summarize articles.First Financial reported Q2 2026 net income of $22.7 million ($1.91 diluted EPS), up from $18.6 million in the prior year. Six-month net income reached $42.5 million. Growth was driven by the CedarStone acquisition, resulting in a 14.83% increase in average total loans to $4.45 billion. Net interest margin improved to 4.33%, and pre-tax, pre-provision income rose to $29.3 million.
First Financial reported second-quarter 2026 net income of $22.7 million, or diluted net income per common share of $1.91, up from $18.6 million and $1.57 a year earlier. For the six months ended June 30, 2026, net income was $42.5 million, or $3.58 per share, versus $37.0 million and $3.12 in the prior year. The quarter included loan growth driven by the CedarStone acquisition and a 4.33% net interest margin.
Financial Highlights
- Net income (Q2 2026): $22.7 million, compared to $18.6 million in Q2 2025.
- Diluted net income per common share (Q2 2026): $1.91, versus $1.57 in Q2 2025; six months: $3.58 vs. $3.12.
- Net interest income (Q2 2026): $61.2 million; net interest margin (tax-equivalent basis): 4.33% (Q2 2025: 4.15%).
- Provision for credit losses (Q2 2026): $1.3 million (Q2 2025: $2.0 million); allowance for credit losses at June 30, 2026: $50.9 million (1.14% of loans).
- Pre-tax, pre-provision income (Q2 2026): $29.3 million, up from $24.9 million in Q2 2025.
Business Highlights
- Completed acquisition of CedarStone Financial on March 1, 2026; acquired loans of $292 million and deposits of $313 million, with a cumulative bargain purchase gain of $33 thousand recorded by quarter end.
- Average total loans grew to $4.45 billion in Q2 2026, a 14.83% year-over-year increase driven by Commercial Construction and Development, Commercial Real Estate, and Consumer Auto loans; marked the eleventh consecutive quarter of loan growth.
- Total loans outstanding at June 30, 2026: $4.47 billion, up 14.66% year-over-year; organic loan growth year-over-year approximately $300 million.
- Average total deposits for Q2 2026 were $4.87 billion, up 4.68% year-over-year; non‑interest bearing deposits increased to $999 million and time deposits to $802 million as of June 30, 2026.
- Capital and book value metrics strengthened: shareholders’ equity at $675.8 million and book value per share of $56.83 as of June 30, 2026; tangible common equity to tangible asset ratio of 9.22%.
Original SEC Filing: FIRST FINANCIAL CORP /IN/ [ THFF ] - 8-K - Jul. 28, 2026