0000714562false00007145622025-02-042025-02-04

​

​

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

​

FORM 8-K

​

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

​

Date of Report (Date of earliest event reported) February 4, 2025

​

FIRST FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

​

Commission File Number: 0-16759

​

Indiana

35-1546989

(State or other jurisdiction

(I.R.S. Employer

incorporation or organization)

Identification No.)

​

​

​

One First Financial Plaza, Terre Haute, IN

47807

(Address of principal executive office)

(Zip Code)

​

​

​

(812)  238-6000

​

(Registrant's telephone number, including area code)

​

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

​

☐Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

​

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

​

☐Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

​

☐Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

​

Securities registered pursuant to Section 12(b) of the Act:

​

Title of each class

​

Trading Symbol

​

Name of each exchange on which registered

Common Stock, par value $0.125 per share

​

THFF

​

The NASDAQ Stock Market LLC

​

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

​

Emerging growth company ☐

​

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

​

​

​

Item 2.02. Results of Operations and Financial Condition

​

On February 4, 2025, the Registrant issued a press release reporting its financial results for year ended December 31, 2024. A copy of the press release is being furnished as an exhibit to this report and is incorporated herein by reference in its entirety.

​

The foregoing information, including the information contained in the press release, is being furnished pursuant to this Item 2.02 and shall not be deemed to be “filed” for purposes of section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. In addition, this information shall not be deemed to be incorporated by reference into any of the Registrant’s filings with the Securities and Exchange Commission, except as shall be expressly set forth by specific reference in any such filing.

​

Item 9.01. Financial Statements and Exhibits

​

The exhibit to this report is as follows:

​

Exhibit Number

    

​

​

​

​

99.1

​

Press Release, February 4, 2025, issued by First Financial Corporation

104

​

Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

​

​

​

SIGNATURES

​

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

​

​

First Financial Corporation

​

​

Dated February 4, 2025

​

​

/s/ Rodger A. McHargue

​

Rodger A. McHargue

​

Secretary/Treasurer and Chief Financial Officer

​

​

​

Exhibit 99.1

​

​

​

News Release

​

FIRST FINANCIAL CORPORATION

One First Financial Plaza, Terre Haute, Indiana 47807 (812) 238-6000

First Financial Corporation Reports 2024 Results

Terre Haute, Indiana, February 4, 2025 – First Financial Corporation (NASDAQ:THFF) today announced results for the fourth quarter of 2024.

●Net income was $16.2 million compared to $12.4 million reported for the same period of 2023;
●Diluted net income per common share of $1.37 compared to $1.06 for the same period of 2023;
●Return on average assets was 1.18% compared to 1.05% for the three months ended December 31, 2023;
●Credit loss provision was $2.0 million compared to provision of $2.5 million for the fourth quarter 2023; and
●Pre-tax, pre-provision net income was $22.3 million compared to $16.6 million for the same period in 2023.1

The Corporation further reported results for the year ended December 31, 2024:

●Net income was $47.3 million compared to $60.7 million reported for the same period of 2023;
●Diluted net income per common share of $4.00 compared to $5.08 for the same period of 2023;
●Return on average assets was 0.92% compared to 1.26% for the twelve months ended December 31, 2023;
●Credit loss provision was $16.2 million compared to provision of $7.3 million for the twelve months ended December 31, 2023; and
●Pre-tax, pre-provision net income was $73.4 million compared to $79.7 million for the same period in 2023.1

1 Non-GAAP financial measure that Management believes is useful for investors and management to understand pre-tax profitability before giving effect to credit loss expense and to provide additional perspective on the Corporation’s performance over time as well as comparison to the Corporation’s peers and evaluating the financial results of the Corporation – please refer to the Non GAAP reconciliations contained in this release.

Average Total Loans

Average total loans for the fourth quarter of 2024 were $3.79 billion versus $3.13 billion for the comparable period in 2023, an increase of $657 million or 20.98%. On a linked quarter basis, average loans increased $84.7 million or 2.29% from $3.71 billion as of September 30, 2024. Increases in average loans year-over-year were mostly a result of the acquisition of SimplyBank on July 1, 2024.

Total Loans Outstanding

Total loans outstanding as of December 31, 2024, were $3.84 billion compared to $3.17 billion as of December 31, 2023, an increase of $669 million or 21.13%. On a linked quarter basis, total loans increased $122 million or 3.28% from $3.72 billion as of September 30, 2024. The year-over-year increase was impacted by the $467 million in loans acquired in the SimplyBank acquisition. Organic growth was primarily driven by increases in Commercial Construction and Development, Commercial Real Estate, and Consumer Auto loans.

Norman D. Lowery, President and Chief Executive Officer, commented “We experienced another sound quarter of loan growth and record net interest income. During the quarter our net interest margin expanded, and we expect continued improvement in coming quarters.”

Average Total Deposits

Average total deposits for the quarter ended December 31, 2024, were $4.76 billion versus $4.05 billion as of December 31, 2023, an increase of $706 million or 17.44%. Increases in average deposits year-over-year were mostly a result of the acquisition of SimplyBank. On a linked quarter basis, average deposits increased $52 million, or 1.10% from $4.71 billion as of September 30, 2024.

Total Deposits

Total deposits were $4.72 billion as of December 31, 2024, compared to $4.09 billion as of December 31, 2023, a $629 million increase, or 15.37%. On a linked quarter basis, total deposits increased $1.4 million, or 0.03%. $622 million in deposits were acquired in the SimplyBank acquisition. Non-interest bearing deposits were $859.0 million, and time deposits were $749.4 million as of December 31, 2024, compared to $750.3 million and $515.7 million, respectively for the same period of 2023.

Shareholders’ Equity

Shareholders’ equity at December 31, 2024, was $549.0 million compared to $528.0 million on December 31, 2023. During the last twelve months, the Corporation has not repurchased any shares of its common stock. 518,860 shares remain available for repurchase under the current repurchase authorization. The Corporation paid a $0.45 per share quarterly dividend in October and declared a $0.51 quarterly dividend, which was paid on January 15, 2025.

Book Value Per Share

Book Value per share was $46.36 as of December 31, 2024, compared to $44.76 as of December 31, 2023, an increase of $1.60 per share, or 3.57%. Tangible Book Value per share was $36.10 as of December 31, 2024, compared to $36.91 as of December 31, 2023.

Tangible Common Equity to Tangible Asset Ratio

The Corporation’s tangible common equity to tangible asset ratio was 7.86% at December 31, 2024, compared to 9.15% at December 31, 2023.

Net Interest Income

Net interest income for the fourth quarter of 2024 was a record $49.6 million, compared to $39.6 million reported for the same period of 2023, an increase of $10.0 million, or 25.29%.

Net Interest Margin

The net interest margin for the quarter ended December 31, 2024, was 3.94% compared to the 3.63% reported at December 31, 2023. On a linked quarterly basis, the net interest margin increased 16 basis points from 3.78% at September 30, 2024.

Nonperforming Loans

Nonperforming loans as of December 31, 2024, were $13.3 million versus $24.6 million as of December 31, 2023. The ratio of nonperforming loans to total loans and leases was 0.35% as of December 31, 2024, versus 0.78% as of December 31, 2023. The decrease in nonperforming loans is due to a commercial relationship that was downgraded in fourth quarter 2023 and subsequently resolved in 2024.

Credit Loss Provision

The provision for credit losses for the three months ended December 31, 2024, was $2.0 million, compared to $2.5 million for the fourth quarter 2023.

Net Charge-Offs

Fourth quarter net charge-offs were $1.4 million compared to $1.8 million in the same period of 2023.

​

​

Allowance for Credit Losses

​

The Corporation’s allowance for credit losses as of December 31, 2024, was $46.7 million compared to $39.8 million as of December 31, 2023. The allowance for credit losses as a percent of total loans was 1.22% as of December 31, 2024, compared to 1.26% as of December 31, 2023. On a linked quarter basis, the allowance for credit losses as a percent of total loans decreased 2 basis points from 1.24% as of September 30, 2024. The Corporation recorded $8.5 million in allowance for the acquisition of SimplyBank, which included $3 million to record purchased credit deteriorated (“PCD”) reserves.

Non-Interest Income

Non-interest income for the three months ended December 31, 2024 and 2023 was $12.2 million and $11.2 million, respectively.

Non-Interest Expense

Non-interest expense for the three months ended December 31, 2024, was $39.8 million compared to $34.2 million in 2023. This includes an overall increase in operating expenses as a result of the acquisition.

Efficiency Ratio

The Corporation’s efficiency ratio was 62.98% for the quarter ending December 31, 2024, versus 65.62% for the same period in 2023.

Income Taxes

Income tax expense for the three months ended December 31, 2024, was $3.8 million versus $1.7 million for the same period in 2023. The effective tax rate for 2024 was 17.28% compared to 16.31% for 2023.

About First Financial Corporation

First Financial Corporation (NASDAQ:THFF) is the holding company for First Financial Bank N.A., which is the fifth oldest national bank in the United States, operating 83 banking centers in Illinois, Indiana, Kentucky, Tennessee, and Georgia. Additional information is available at www.first-online.bank.

Investor Contact:

Rodger A. McHargue

Chief Financial Officer

P: 812-238-6334

E: rmchargue@first-online.com

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Year Ended

​

​

December 31, 

​

September 30,

​

December 31, 

​

December 31, 

​

December 31, 

​

    

2024

    

2024

    

2023

    

2024

    

2023

END OF PERIOD BALANCES

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Assets

​

$

5,560,348

​

$

5,483,351

​

$

4,851,146

​

$

5,560,348

​

$

4,851,146

Deposits

​

$

4,718,914

​

$

4,717,489

​

$

4,090,068

​

$

4,718,914

​

$

4,090,068

Loans, including net deferred loan costs

​

$

3,837,141

​

$

3,715,235

​

$

3,167,821

​

$

3,837,141

​

$

3,167,821

Allowance for Credit Losses

​

$

46,732

​

$

46,169

​

$

39,767

​

$

46,732

​

$

39,767

Total Equity

​

$

549,041

​

$

565,951

​

$

527,976

​

$

549,041

​

$

527,976

Tangible Common Equity (a)

​

$

427,470

​

$

446,786

​

$

435,405

​

$

427,470

​

$

435,405

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AVERAGE BALANCES

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Total Assets

​

$

5,516,036

​

$

5,483,572

​

$

4,725,297

​

$

5,154,320

​

$

4,802,448

Earning Assets

​

$

5,196,352

​

$

5,165,520

​

$

4,485,766

​

$

4,871,293

​

$

4,564,135

Investments

​

$

1,311,415

​

$

1,342,037

​

$

1,279,821

​

$

1,310,263

​

$

1,358,661

Loans

​

$

3,790,515

​

$

3,705,779

​

$

3,133,267

​

$

3,468,534

​

$

3,111,784

Total Deposits

​

$

4,757,438

​

$

4,705,614

​

$

4,050,968

​

$

4,405,679

​

$

4,106,132

Interest-Bearing Deposits

​

$

3,925,740

​

$

4,403,454

​

$

3,291,931

​

$

3,767,259

​

$

3,304,816

Interest-Bearing Liabilities

​

$

134,553

​

$

157,227

​

$

206,778

​

$

166,377

​

$

199,551

Total Equity

​

$

556,330

​

$

546,912

​

$

463,004

​

$

535,963

​

$

486,572

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

INCOME STATEMENT DATA

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Net Interest Income

​

$

49,602

​

$

47,170

​

$

39,590

​

$

174,986

​

$

167,262

Net Interest Income Fully Tax Equivalent (b)

​

$

50,985

​

$

48,630

​

$

40,942

​

$

180,586

​

$

172,716

Provision for Credit Losses

​

$

2,000

​

$

9,400

​

$

2,495

​

$

16,166

​

$

7,295

Non-interest Income

​

$

12,213

​

$

11,223

​

$

11,247

​

$

42,772

​

$

42,702

Non-interest Expense

​

$

39,801

​

$

38,564

​

$

34,244

​

$

144,438

​

$

130,176

Net Income

​

$

16,241

​

$

8,741

​

$

12,420

​

$

47,275

​

$

60,672

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

PER SHARE DATA

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Basic and Diluted Net Income Per Common Share

​

$

1.37

​

$

0.74

​

$

1.06

​

$

4.00

​

$

5.08

Cash Dividends Declared Per Common Share

​

$

0.51

​

$

0.45

​

$

0.45

​

$

1.86

​

$

0.99

Book Value Per Common Share

​

$

46.36

​

$

47.93

​

$

44.76

​

$

46.36

​

$

44.76

Tangible Book Value Per Common Share (c)

​

$

36.77

​

$

36.22

​

$

31.47

​

$

36.10

​

$

36.91

Basic Weighted Average Common Shares Outstanding

​

 

11,824

​

 

11,808

​

 

11,772

​

 

11,812

​

 

11,937

(a)Tangible common equity is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible common equity by excluding goodwill and other intangible assets from shareholder’s equity.
(b)Net interest income fully tax equivalent is a non-GAAP financial measure derived from GAAP-based amounts. We calculate net interest income fully tax equivalent by adding back the tax equivalent factor of tax exempt income to net interest income. We calculate the tax equivalent factor of tax exempt income by dividing tax exempt income by the net of tax rate of 75%.
(c)Tangible book value per common share is a non-GAAP financial measure derived from GAAP-based amounts. We calculate the factor by dividing average tangible common equity by average shares outstanding. We calculate average tangible common equity by excluding average intangible assets from average shareholder’s equity.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Key Ratios

    

Three Months Ended

​

Year Ended

 

​

​

December 31, 

    

September 30,

    

December 31, 

    

December 31, 

    

December 31, 

 

​

​

2024

       

2024

       

2023

       

2024

       

2023

 

Return on average assets

 

1.18

%

0.64

%

1.05

%

0.92

%

1.26

%

Return on average common shareholder's equity

 

11.68

%

6.39

%

10.73

%

8.82

%

12.47

%

Efficiency ratio

 

62.98

%

64.43

%

65.62

%

64.67

%

60.43

%

Average equity to average assets

 

10.09

%

9.97

%

9.80

%

10.40

%

10.13

%

Net interest margin (a)

 

3.94

%

3.78

%

3.63

%

3.71

%

3.78

%

Net charge-offs to average loans and leases

 

0.15

%

0.49

%

0.22

%

0.35

%

0.23

%

Credit loss reserve to loans and leases

 

1.22

%

1.24

%

1.26

%

1.22

%

1.26

%

Credit loss reserve to nonperforming loans

 

351.37

%

326.65

%

161.94

%

351.37

%

161.94

%

Nonperforming loans to loans and leases

 

0.35

%

0.38

%

0.78

%

0.35

%

0.78

%

Tier 1 leverage

 

10.38

%

10.25

%

12.14

%

10.38

%

12.14

%

Risk-based capital - Tier 1

 

12.43

%

13.63

%

14.76

%

12.43

%

14.76

%

(a)Net interest margin is calculated on a tax equivalent basis.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Asset Quality

​

Three Months Ended

​

Year Ended

​

    

December 31, 

    

September 30,

    

December 31, 

    

December 31, 

    

December 31, 

​

​

2024

​

2024

​

2023

​

2024

​

2023

Accruing loans and leases past due 30-89 days

​

$

22,486

​

$

16,391

​

$

20,168

​

$

22,486

​

$

20,168

Accruing loans and leases past due 90 days or more

​

$

1,821

​

$

1,517

​

$

960

​

$

1,821

​

$

960

Nonaccrual loans and leases

​

$

11,479

​

$

12,617

​

$

23,596

​

$

11,479

​

$

23,596

Other real estate owned

​

$

523

​

$

169

​

$

107

​

$

523

​

$

107

Nonperforming loans and other real estate owned

​

$

13,823

​

$

14,303

​

$

24,663

​

$

13,823

​

$

24,663

Total nonperforming assets

​

$

16,719

​

$

17,179

​

$

27,665

​

$

16,719

​

$

27,665

Gross charge-offs

​

$

3,070

​

$

6,936

​

$

3,976

​

$

19,289

​

$

15,496

Recoveries

​

$

1,633

​

$

2,365

​

$

2,213

​

$

7,082

​

$

8,188

Net charge-offs/(recoveries)

​

$

1,437

​

$

4,571

​

$

1,763

​

$

12,207

​

$

7,308

​

​

​

​

​

​

​

​

​

​

Non-GAAP Reconciliations

​

Three Months Ended December 31, 

​

    

2024

    

2023

($in thousands, except EPS)

​

​

​

​

​

​

Income before Income Taxes

​

$

20,014

​

$

14,098

Provision for credit losses

​

 

2,000

​

 

2,495

Provision for unfunded commitments

​

 

300

​

 

—

Pre-tax, Pre-provision Income

​

$

22,314

​

$

16,593

​

​

​

​

​

​

​

​

​

Non-GAAP Reconciliations

​

Year Ended December 31, 

​

    

2024

    

2023

($ in thousands, except EPS)

​

​

​

​

​

​

Income before Income Taxes

​

$

57,154

​

$

72,493

Provision for credit losses

​

​

16,166

​

​

7,295

Provision for unfunded commitments

​

​

100

​

​

(100)

Pre-tax, Pre-provision Income

​

$

73,420

​

$

79,688

​

​

CONSOLIDATED BALANCE SHEETS

(Dollar amounts in thousands, except per share data)

​

​

​

​

​

​

​

​

​

    

December 31, 

    

December 31, 

​

​

2024

​

2023

​

 

(unaudited)

ASSETS

​

​

​

​

​

​

Cash and due from banks

​

$

93,526

​

$

76,759

Federal funds sold

​

 

820

​

 

282

Securities available-for-sale

​

 

1,195,990

​

 

1,259,137

Loans:

​

 

​

​

 

​

Commercial

​

 

2,196,351

​

 

1,817,526

Residential

​

 

967,386

​

 

695,788

Consumer

​

 

668,058

​

 

646,758

​

​

 

3,831,795

​

 

3,160,072

(Less) plus:

​

 

  

​

 

  

Net deferred loan costs

​

 

5,346

​

 

7,749

Allowance for credit losses

​

 

(46,732)

​

 

(39,767)

​

​

 

3,790,409

​

 

3,128,054

Restricted stock

​

 

17,555

​

 

15,364

Accrued interest receivable

​

 

26,934

​

 

24,877

Premises and equipment, net

​

 

81,508

​

 

67,286

Bank-owned life insurance

​

 

128,766

​

 

114,122

Goodwill

​

 

100,026

​

 

86,985

Other intangible assets

​

 

21,545

​

 

5,586

Other real estate owned

​

 

523

​

 

107

Other assets

​

 

102,746

​

 

72,587

TOTAL ASSETS

​

$

5,560,348

​

$

4,851,146

​

​

​

​

​

​

​

LIABILITIES AND SHAREHOLDERS’ EQUITY

​

 

  

​

 

  

Deposits:

​

 

  

​

 

  

Non-interest-bearing

​

$

859,014

​

$

750,335

Interest-bearing:

​

 

​

​

 

​

Certificates of deposit exceeding the FDIC insurance limits

​

 

144,982

​

 

92,921

Other interest-bearing deposits

​

 

3,714,918

​

 

3,246,812

​

​

 

4,718,914

​

 

4,090,068

Short-term borrowings

​

 

187,057

​

 

67,221

FHLB advances

​

 

28,120

​

 

108,577

Other liabilities

​

 

77,216

​

 

57,304

TOTAL LIABILITIES

​

 

5,011,307

​

 

4,323,170

​

​

​

​

​

​

​

Shareholders’ equity

​

 

  

​

 

  

Common stock, $.125 stated value per share;

​

 

  

​

 

  

Authorized shares-40,000,000

​

 

  

​

 

  

Issued shares-16,165,023 in 2024 and 16,137,220 in 2023

​

 

  

​

 

  

Outstanding shares-11,842,539 in 2024 and 11,795,024 in 2023

​

 

2,018

​

 

2,014

Additional paid-in capital

​

 

145,927

​

 

144,152

Retained earnings

​

 

687,366

​

 

663,726

Accumulated other comprehensive income/(loss)

​

 

(132,285)

​

 

(127,087)

Less: Treasury shares at cost-4,322,484 in 2024 and 4,342,196 in 2023

​

 

(153,985)

​

 

(154,829)

TOTAL SHAREHOLDERS’ EQUITY

​

 

549,041

​

 

527,976

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

​

$

5,560,348

​

$

4,851,146

​

​

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Dollar amounts in thousands, except per share data)

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended

​

​

December 31, 

​

    

2024

    

2023

 

2022

​

​

(unaudited)

INTEREST INCOME:

​

​

​

​

​

​

​

​

​

Loans, including related fees

​

$

226,262

​

$

189,641

​

$

146,295

Securities:

​

 

​

​

 

  

​

 

  

Taxable

​

 

24,237

​

 

24,643

​

 

21,014

Tax-exempt

​

 

10,533

​

 

10,573

​

 

9,974

Other

​

 

3,710

​

 

3,540

​

 

6,018

TOTAL INTEREST INCOME

​

 

264,742

​

 

228,397

​

 

183,301

INTEREST EXPENSE:

​

 

  

​

 

  

​

 

  

Deposits

​

 

81,071

​

 

51,694

​

 

16,743

Short-term borrowings

​

 

4,284

​

 

5,370

​

 

1,243

Other borrowings

​

 

4,401

​

 

4,071

​

 

273

TOTAL INTEREST EXPENSE

​

 

89,756

​

 

61,135

​

 

18,259

NET INTEREST INCOME

​

 

174,986

​

 

167,262

​

 

165,042

Provision for credit losses

​

 

16,166

​

 

7,295

​

 

(2,025)

NET INTEREST INCOME AFTER PROVISION

​

 

  

​

 

  

​

 

  

FOR LOAN LOSSES

​

 

158,820

​

 

159,967

​

 

167,067

NON-INTEREST INCOME:

​

 

​

​

 

  

​

 

  

Trust and financial services

​

 

5,468

​

 

5,155

​

 

5,155

Service charges and fees on deposit accounts

​

 

29,653

​

 

28,079

​

 

27,540

Other service charges and fees

​

 

999

​

 

801

​

 

665

Securities gains (losses), net

​

 

103

​

 

(1)

​

 

3

Interchange income

​

 

655

​

 

676

​

 

559

Loan servicing fees

​

 

1,259

​

 

1,176

​

 

1,554

Gain on sales of mortgage loans

​

 

1,153

​

 

966

​

 

1,994

Other

​

 

3,482

​

 

5,850

​

 

9,246

TOTAL NON-INTEREST INCOME

​

 

42,772

​

 

42,702

​

 

46,716

NON-INTEREST EXPENSE:

​

 

  

​

 

  

​

 

  

Salaries and employee benefits

​

 

74,555

​

 

68,525

​

 

65,555

Occupancy expense

​

 

9,616

​

 

9,351

​

 

9,764

Equipment expense

​

 

17,612

​

 

14,020

​

 

12,391

FDIC Expense

​

 

2,788

​

 

2,907

​

 

2,327

Other

​

 

39,867

​

 

35,373

​

 

35,986

TOTAL NON-INTEREST EXPENSE

​

 

144,438

​

 

130,176

​

 

126,023

INCOME BEFORE INCOME TAXES

​

 

57,154

​

 

72,493

​

 

87,760

Provision for income taxes

​

 

9,879

​

 

11,821

​

 

16,651

NET INCOME

​

 

47,275

​

 

60,672

​

 

71,109

OTHER COMPREHENSIVE INCOME (LOSS)

​

 

  

​

 

  

​

 

  

Change in unrealized gains/(losses) on securities, net of reclassifications and taxes

​

 

(9,807)

​

 

10,896

​

 

(144,570)

Change in funded status of post retirement benefits, net of taxes

​

 

4,609

​

 

1,991

​

 

7,022

COMPREHENSIVE INCOME (LOSS)

​

$

42,077

​

$

73,559

​

$

(66,439)

PER SHARE DATA

​

 

  

​

 

  

​

 

  

Basic and Diluted Earnings per Share

​

$

4.00

​

$

5.08

​

$

5.82

Weighted average number of shares outstanding (in thousands)

​

 

11,812

​

 

11,937

​

 

12,211

​

v3.25.0.1
Document and Entity Information
Feb. 04, 2025
Document and Entity Information [Abstract]  
Document Type 8-K
Document Period End Date Feb. 04, 2025
Entity File Number 0-16759
Entity Registrant Name FIRST FINANCIAL CORPORATION
Entity Incorporation, State or Country Code IN
Entity Tax Identification Number 35-1546989
Entity Address State Or Province IN
Entity Address, Address Line One One First Financial Plaza
Entity Address, City or Town Terre Haute
Entity Address, Postal Zip Code 47807
City Area Code 812
Local Phone Number 238-6000
Title of 12(b) Security Common Stock, par value $0.125 per share
Trading Symbol THFF
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Entity Central Index Key 0000714562
Amendment Flag false
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
First Financial (NASDAQ:THFF)
Gráfico Histórico do Ativo
De Jan 2025 até Fev 2025 Click aqui para mais gráficos First Financial.
First Financial (NASDAQ:THFF)
Gráfico Histórico do Ativo
De Fev 2024 até Fev 2025 Click aqui para mais gráficos First Financial.