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Mar 31, 2023
Premier Financial Q1 2023 Earnings Report
Announced solid first quarter results with improved capital and liquidity.
Key Takeaways
Premier Financial Corp. reported a net income of $18.1 million, or $0.51 per diluted common share, for Q1 2023, compared to $25.3 million, or $0.71 per diluted common share, for the fourth quarter of 2022.
CET1 ratio increased 5 basis points to 9.96% and tangible equity ratio increased 25 basis points to 7.03% from the prior quarter
Delinquencies decreased $7.2 million or 39% to 0.16% of loans from the prior quarter
Loan growth of $115.2 million (up 7.1% annualized) including $69.2 million for commercial loans excluding PPP (up 6.5% annualized)
Declared dividend of $0.31 per share, up 3.3% from prior year comparable period
Forward Guidance
Expense savings planned for the remainder of the year represent an estimated $3.0 million pre-tax per quarter. The Company estimates that each 25 basis point change in the Federal Funds rate could impact net interest income by approximately $1.5 million on a pre-tax annualized basis based on the Company’s balance sheet as of March 31, 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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