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Dec 31, 2020
Premier Financial Q4 2020 Earnings Report
Premier Financial reported strong quarterly and annual earnings, driven by solid core profitability and the successful completion of integration efforts.
Key Takeaways
Premier Financial Corp. announced a strong fourth quarter and year-end results for 2020. Net income for the fourth quarter was $30.8 million, or $0.82 per diluted common share. The results were significantly impacted by the acquisition of United Community Financial Corp. on January 31, 2020.
Net income for the fourth quarter of 2020 was $30.8 million, or $0.82 per diluted common share.
Excluding merger-related expenses, earnings per share were $0.87.
Average loan growth of $53.5 million, or 4% annualized growth.
Average deposit growth of $218.5 million, or 15% annualized growth.
Forward Guidance
Premier Financial is positioned to continue implementing enhancements for a top-quality customer experience and exceptional performance in 2021.
Positive Outlook
- Focus on managing funding costs and excess liquidity to mitigate impacts to core net interest margin.
- Strength of performance in non-interest income.
- Continued exceptional residential loan origination activity.
- Excellent gain on sale margins.
- Improving credit conditions
Challenges Ahead
- Year-over-year comparisons are substantially impacted by the acquisition of United Community Financial Corp.
- Current year’s results include the impact of acquisition-related charges.
- Volatility of CECL was on display this quarter.
- Experiencing some risk migration.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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