First Financial Q1 2020 Earnings Report
Key Takeaways
First Financial Bancorp announced first quarter 2020 financial results, reporting a net income of $28.6 million, or $0.29 per diluted common share. The results were negatively impacted by COVID-19's influence on the CECL model, though pre-provision financial results exceeded expectations.
Earnings per Diluted Share of $0.29; $0.31 on an Adjusted Basis
4.6% Loan Growth on an Annualized Basis
3.77% Fully Tax Equivalent Net Interest Margin
$25.4 million total provision for credit losses
First Financial
First Financial
Forward Guidance
Although certain performance metrics are difficult to forecast for the remainder of the year, the Company pledges to remain diligent and manage the Company in a way that continues to deliver maximum shareholder value while prioritizing the physical and financial well-being of our clients and associates.