First Financial (THFF) Q3 2026 earnings summary

Executive summary

• Q3 2026 net income reached a record $27.4M, up from $20.8M YoY; diluted EPS rose to $2.31 from $1.75. Nine-month net income was $70.0M vs. $57.8M.

• Management cited strong margins and profitability, stable credit quality, and strong loan pipelines; 9M NIM was 4.36% and ROAA was 1.54%.

Financial highlights

• Q3 net interest income reached a record $63.5M vs. $54.6M YoY, up 16.3%; 9M net interest income was $181.7M vs. $159.2M.

• Q3 non-interest income was $11.4M vs. $11.1M; non-interest expense was $41.3M vs. $38.0M, including higher costs related to CedarStone.

• 9M non-interest income was $33.3M vs. $32.0M; non-interest expense was $124.7M vs. $113.1M.

• Q3 pre-tax, pre-provision income was $33.7M vs. $27.7M; Q3 recorded a $750K benefit from credit losses vs. a $2.0M provision expense.

• At Sept. 30, 2026, total assets were $6.06B, net loans $4.36B, deposits $4.87B, and shareholders’ equity $660.4M.

Outlook and guidance

• Strong loan pipelines were cited; the First Illinois merger is expected to close in Q1 2027, subject to merger terms and procedures.

• Management considered liquidity adequate; contingent capacity included $74.6M at FHLB Indianapolis, $1.1B at the Federal Reserve, and $90M in correspondent-bank fed funds lines.

• A 100-bp rate increase was modeled to reduce NII 1.48% over 12 months and increase it 1.33% over 24 months; estimates assume no management response.