STOCK TITAN

First Financial Corporation - THFF STOCK NEWS

Welcome to our dedicated page for First Financial Corporation news (Ticker: THFF), a resource for investors and traders seeking the latest updates and insights on First Financial Corporation stock.

Founded in 1834, First Financial Corporation (NASDAQ: THFF) is the oldest national bank in Indiana and the sixth oldest in the United States. Initially established to serve the pioneers of Vigo County and the Wabash River Valley, it has grown into a robust financial holding company providing a comprehensive range of financial services across multiple states.

First Financial Corporation's operations are primarily conducted through its subsidiary, First Financial Bank, N.A., which operates 70 banking centers in Illinois, Indiana, Kentucky, and Tennessee. The bank offers a suite of financial services, including commercial, mortgage, and consumer lending, lease financing, trust account services, depositor services, and insurance services.

The company has a strong history of financial growth and stability. For the year ending December 31, 2023, First Financial reported total loans outstanding of $3.17 billion, an increase of 3.27% compared to the previous year. The bank's average total loans for the first quarter of 2024 were $3.18 billion, illustrating continuous growth. Furthermore, their non-interest income was $11.2 million for the same period, showing a stable financial footprint.

First Financial Corporation has also shown remarkable efficiency and a disciplined approach to expense management. The corporation’s efficiency ratio was high at 67.21% for the first quarter of 2024. They also maintained strong credit quality, with a nonperforming loans ratio of just 0.76% as of March 31, 2024.

Strategic growth remains a focus for First Financial Corporation. They announced a significant acquisition, merging with SimplyBank in Dayton, Tennessee, which will add approximately $702 million in assets to First Financial's portfolio and expand their footprint into new markets. This merger is expected to close in the second quarter of 2024, pending customary approvals.

Financially, the company remains strong with a tangible common equity to tangible asset ratio of 9.00% as of March 31, 2024. Shareholder equity stood at $520.8 million with a book value of $44.08 per share, reflecting a solid foundation for future growth.

With a history of stable financial performance, strategic expansions, and a diverse range of financial services, First Financial Corporation is well-positioned to continue its legacy of supporting communities and delivering shareholder value.

Rhea-AI Summary

First Financial (NASDAQ: THFF) announced a quarterly dividend of 45 cents per share. This dividend will be paid on July 15, 2024, to shareholders recorded by the close of business on July 1, 2024. First Financial operates First Financial Bank N.A. across Indiana, Illinois, Kentucky, and Tennessee.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.44%
Tags
dividends
-
Rhea-AI Summary

First Financial reported a net income of $10.9 million for Q1 2024 compared to $16.0 million in Q1 2023. Diluted net income per share was $0.93 versus $1.33 for the same period in 2023. Return on average assets decreased to 0.91% from 1.32% in Q1 2023. Credit loss provision remained unchanged at $1.8 million. Pre-tax, pre-provision net income was $14.9 million versus $21.4 million in Q1 2023. Total loans outstanding and deposits increased, while nonperforming loans, net interest income, and net interest margin saw declines.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.63%
Tags
-
Rhea-AI Summary
First Financial (THFF) declares a dividend of 45 cents per share, shifting to quarterly dividends from semi-annual, benefiting shareholders in Indiana, Illinois, Kentucky, and Tennessee.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.43%
Tags
dividends
Rhea-AI Summary
First Financial Bank experiences a 10% increase in new accounts opened with Gabby, the AI-powered digital assistant, leading to higher customer engagement. The partnership with Kasisto has enabled the bank to enhance customer experience and deepen relationships through AI technology.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.22%
Tags
AI
-
Rhea-AI Summary
First Financial Corporation (NASDAQ:THFF) reported a decrease in net income, diluted net income per common share, and return on average assets for the fourth quarter of 2023 compared to the same period in 2022. The company also announced results for the year ended December 31, 2023, showing a decline in net income, diluted net income per common share, and return on average assets. However, average total loans and total loans outstanding increased, and the company declared a $0.45 quarterly dividend. Shareholder equity, book value per share, and tangible common equity to tangible asset ratio also showed positive growth. Net interest income and net interest margin decreased, and nonperforming loans and non-interest expense increased. The efficiency ratio and income tax expense also saw changes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.14%
Tags
none
-
Rhea-AI Summary
First Financial Corporation (THFF) declares a dividend of 45 cents per share, payable on January 16, 2024, to shareholders of record at the close of business January 2, 2024. The company intends to pay dividends quarterly instead of semi-annually. First Financial Corporation is the holding company for First Financial Bank N.A. in Indiana, Illinois, Kentucky, and Tennessee.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.59%
Tags
dividends
Rhea-AI Summary
First Financial Corporation (NASDAQ: THFF) to Acquire SimplyBank for $73.4 Million: First Financial will pay $718.38 per share in cash for each share of SimplyBank’s common stock outstanding. The merger will result in a total combined asset of approximately $5.5 billion, expanding First Financial's presence in Tennessee and Georgia.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.46%
Tags
-
Rhea-AI Summary
First Financial Corporation (NASDAQ:THFF) announced its third-quarter results for 2023. Net income was $16.3 million, a decrease from $18.1 million in the same period last year. Diluted net income per common share was $1.37, down from $1.50. Return on average assets was 1.35%, compared to 1.43%. Credit loss provision was $1.2 million, up from $1.1 million. Pre-tax, pre-provision net income was $20.5 million, down from $23.7 million. For the nine months ending September 30, 2023, net income was $48.3 million, diluted net income per common share was $4.02, return on average assets was 1.33%, credit loss provision was $4.8 million, and pre-tax, pre-provision net income was $63.1 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.18%
Tags
-
Rhea-AI Summary
First Financial Corporation announces a leadership transition with Norman D. Lowery succeeding his father as President and CEO on January 1, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.16%
Tags
management
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.03%
Tags

FAQ

What services does First Financial Corporation offer?

First Financial Corporation offers commercial, mortgage, and consumer lending, lease financing, trust account services, depositor services, and insurance services through its subsidiary, First Financial Bank, N.A.

Where does First Financial Corporation operate?

First Financial Corporation operates 70 banking centers in Illinois, Indiana, Kentucky, and Tennessee.

What recent acquisitions has First Financial Corporation made?

First Financial Corporation announced the acquisition of SimplyBank, which will add approximately $702 million in assets and expand their presence in Tennessee and Georgia.

How financially stable is First Financial Corporation?

First Financial Corporation is financially stable with a tangible common equity to tangible asset ratio of 9.00% as of March 31, 2024, and shareholder equity of $520.8 million.

What is the efficiency ratio of First Financial Corporation?

For the first quarter of 2024, First Financial Corporation reported an efficiency ratio of 67.21%.

How is First Financial Corporation performing in terms of loan growth?

First Financial Corporation reported total loans of $3.19 billion as of March 31, 2024, an increase of 3.63% over the same period last year.

What is the book value per share of First Financial Corporation?

As of March 31, 2024, the book value per share of First Financial Corporation was $44.08.

How does First Financial Corporation manage credit quality?

First Financial Corporation maintains strong credit quality with a nonperforming loans ratio of 0.76% as of March 31, 2024.

What is the historical significance of First Financial Corporation?

Founded in 1834, First Financial Corporation is the oldest national bank in Indiana and the sixth oldest in the United States.

How can I contact First Financial Corporation for investor relations?

You can contact First Financial Corporation's Chief Financial Officer, Rodger A. McHargue, at 812-238-6334 or via email at rmchargue@first-online.com.

First Financial Corporation

Nasdaq:THFF

THFF Rankings

THFF Stock Data

514.03M
11.81M
4.07%
75.63%
0.57%
Commercial Banking
Finance and Insurance
Link
United States of America
TERRE HAUTE