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Jun 30, 2020
Premier Financial Q2 2020 Earnings Report
Premier Financial Corp. announced record earnings for the second quarter of 2020, driven by strong non-interest income and operating efficiency.
Key Takeaways
Premier Financial Corp. reported a record second quarter with net income of $29.1 million, or $0.78 per diluted common share, compared to $12.2 million, or $0.61 per diluted common share, for the second quarter of 2019. The results were driven by strong non-interest income performance and operating efficiency, with significant contributions from mortgage banking. The company also saw loan and deposit growth and a 15.8% increase in its year-over-year dividend.
Net income was $29.1 million, or $0.78 per share, compared to $12.2 million in Q2 2019.
Loan growth was $343 million, representing 6.7% quarterly growth.
Deposit growth was $766 million, representing 15.3% quarterly growth.
The efficiency ratio improved to 48.96%, or 46.26% excluding merger-related expenses, compared to 61.22% in Q2 2019.
Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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