First Financial Bancorp reports Q2 EPS 37c with expenses, consensus 52c
During the quarter the company incurred $24.3M in merger related expenses, which reduced earnings per diluted common share by 20c. Return on average assets for the second quarter of 2018 was 1.05% while return on average tangible common equity was 13.71%. These compare to a return on average assets of 1.40% and return on average tangible common equity of 17.17% in the first quarter of 2018 and a return on average assets of 1.06% and a return on average tangible common equity of 13.42% in the second quarter of 2017. On an adjusted basis, second quarter return on average assets was 1.60% and return on tangible common equity was 20.94%. Net interest margin increased 30 basis points from the linked quarter to 4.10% on a GAAP basis; 4.15% on a fully tax equivalent basis.