First Financial (THFF) investor relations material

Executive summary

• Net income for Q1 2026 was $19.8 million, up from $18.4 million in Q1 2025, with EPS rising to $1.67 from $1.55 year-over-year.

• The acquisition of CedarStone Financial, Inc. was completed on March 1, 2026, adding $292 million in loans and $313 million in deposits, and resulting in a $716,000 bargain purchase gain.

• Surpassed $6 billion in total assets and achieved a tenth consecutive quarter of loan growth.

• Return on average assets was 1.35% and return on average equity was 11.93% for Q1 2026.

Financial highlights

• Net interest income reached a record $56.9 million, up 9.5% year-over-year, with net interest margin rising to 4.23% from 4.11%.

• Non-interest income grew to $11.2 million from $10.5 million year-over-year.

• Non-interest expense rose to $40.9 million from $36.8 million, reflecting higher operating costs post-acquisition.

• Provision for credit losses was $2.6 million, up from $2.0 million year-over-year.

• Book value per share increased to $55.10 from $54.78 at year-end 2025.

• Pre-tax, pre-provision net income was $27.3 million, up from $25.7 million in Q1 2025.

• Net charge-offs were $1.5 million, down from $1.8 million in Q1 2025.

Outlook and guidance

• Liquidity remains strong, with cash and available-for-sale securities at 20.7% of assets.

• Management considers capital and liquidity positions adequate to meet both short- and long-term needs.

• Management highlighted strong margin at 4.23% and stable credit quality.

• Continued focus on organic loan growth, especially in commercial and consumer auto segments.

• No material changes in risk factors were reported.