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Dec 31, 2024
Premier Financial Q4 2024 Earnings Report
Announced full year 2024 results and declared dividend of $0.31 per share.
Key Takeaways
Premier Financial Corp. reported a net income of $20.8 million, or $0.58 per diluted common share, for the fourth quarter of 2024. Excluding transaction costs, earnings were $22.6 million, or $0.63 per diluted common share.
Earnings per share of $0.58, or $0.63 excluding transaction costs, increased from Q3 2024.
Interest-bearing deposit costs decreased 30 basis points from Q3 2024.
Net interest margin increased 13 basis points to 2.63% from Q3 2024.
Efficiency ratio of 60.4%, or 57.1% excluding transaction costs, improved from Q3 2024.
Revenue by Segment
Forward Guidance
The company announced a strategic merger with Wesbanco, Inc. and is awaiting regulatory approvals.
Positive Outlook
- Strategic merger with Wesbanco, Inc. announced.
- Shareholders of both PFC and WSBC approved the merger.
- Transaction remains on track, subject to regulatory approvals.
- PFC shareholders will own approximately 30% of the combined company.
- Regulatory ratios all improved during the fourth quarter of 2024
Challenges Ahead
- Merger is subject to regulatory approvals.
- Merger is subject to satisfaction or waiver of other customary closing conditions.
- Total loans including held-for-sale decreased $115.7 million.
- Total deposits decreased $292.8 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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