First National Financial Corp

Latest Results (07.08.2024):

Revenue Growth

First National Financial Corp's fourth quarter 2023 revenue was $503.4 million, marking a 21% increase from the fourth quarter of 2022. This growth was driven by higher net interest revenue from securitized mortgages, increased mortgage investment income, and higher mortgage servicing income.

Commercial Mortgage Originations

In the fourth quarter of 2023, First National Financial Corp's commercial mortgage originations reached $3.8 billion, which is 27% or $874 million higher than the same period in 2022. For the entire year of 2023, commercial mortgage originations totaled $13.0 billion, reflecting an 11% increase from the previous year.

Income Before Taxes

First National Financial Corp reported an increase in income before income taxes to $59.9 million for the fourth quarter of 2023, up from $58.3 million in the same period of 2022. For the full year of 2023, income before income taxes rose by 28% to $343.9 million compared to $269.1 million in 2022.

Net Income

Net income for First National Financial Corp in the fourth quarter of 2023 was $44.2 million, or $0.72 per share, compared to $42.7 million, or $0.70 per share, in the fourth quarter of 2022. For the full year of 2023, net income was $252.8 million, or $4.15 per share, up from $197.7 million, or $3.25 per share, in 2022.

Annual Revenue

For the year 2023, First National Financial Corp's revenue increased by 29% to $2.0 billion from $1.6 billion in 2022. This significant growth was largely attributed to higher interest rates, which led to increased net interest revenue on securitized mortgages and higher interest earned on mortgage investments.