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Dec 31, 2022
Premier Financial Q4 2022 Earnings Report
Premier Financial reported strong loan and deposit growth and improved asset quality.
Key Takeaways
Premier Financial Corp. announced its fourth quarter and full year 2022 results. The company reported net income of $25.3 million, or $0.71 per diluted common share, for the fourth quarter of 2022, which was the same as the fourth quarter of 2021. Full year loan growth exceeded 20% with core customer deposits up 7.7%.
Loan growth of $239.0 million (up 15.1% annualized) including $131.5 million for commercial loans excluding PPP (up 12.8% annualized)
Customer deposits growth of $100.4 million (up 6.0% annualized) including $43.0 million of non-interest-bearing (up 9.4% annualized)
Net interest income (tax equivalent) of $62.8 million or $62.2 million excluding PPP and acquisition marks accretion, up 9.3% and 17.0%, respectively, from 2021 fourth quarter
Declared dividend of $0.31 per share, up 3.3% from prior year comparable period
Forward Guidance
Diligent funding cost management will be a key for the organization and the industry in 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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