-
Posted by
Two Blokes May 18, 2025 -
Filed in
Stock
-
6 views
First Financial (THFF) has improved its funding profile and net interest margin via the SimplyBank acquisition, with strong credit quality and solid capital. Despite recent outperformance, THFF's long-term organic growth is weak, with deposit growth mostly driven by acquisitions, not core expansion. The bank's valuation is fair at 9-10x earnings, reflecting limited growth prospects, a small market cap, and illiquid shares compared to larger peers.
