First Financial Corporation Announces Stock Repurchase Plan
First Financial Corporation (NASDAQ:THFF) has announced a new stock repurchase program, authorizing the buyback of up to 10% of its outstanding common stock.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
First Financial Corporation (NASDAQ:THFF) has announced a new stock repurchase program, authorizing the buyback of up to 10% of its outstanding common stock. This initiative allows repurchases in the open market or through negotiated transactions, depending on market conditions and legal requirements. Shares will be held as authorized but unissued, aimed at bolstering shareholder value and supporting corporate flexibility.
Positive
- Authorization of a stock repurchase program for up to 10% of outstanding shares, potentially enhancing shareholder value.
- Repurchased shares can be used for general corporate purposes, increasing financial flexibility.
Negative
- None.
Details
News Market Reaction – THFF
The recorded move for THFF in the trading session of this news was +0.25%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
TERRE HAUTE, Ind., April 21, 2022 (GLOBE NEWSWIRE) -- First Financial Corporation (NASDAQ:THFF) today announced that its Board of Directors has authorized a stock repurchase program to purchase up to
The shares may be repurchased periodically in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of First Financial's stock, general market and economic conditions, and applicable legal requirements. Repurchased shares will be held by the Corporation as authorized but unissued shares and may be utilized for general corporate purposes.
About First Financial Corporation
First Financial Corporation (NASDAQ:THFF) is the holding company for First Financial Bank N.A. First Financial Bank N.A. is the fifth oldest national bank in the United States, operating 78 banking centers in Illinois, Indiana, Kentucky and Tennessee. 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
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