First Financial Corp Stock Price, News & Analysis

First Financial Corporation (NASDAQ:THFF) reported a strong performance for Q1 2022, with net income of $20.9 million, up from $12.9 million in Q1 2021. Diluted earnings per share rose to $1.67 from $0.95, reflecting a return on average assets of 1.63%. Total loans increased by 5.96% year-over-year to $2.80 billion, and total deposits rose 12.54% to $4.40 billion. Despite a decline in book value per share to $42.25, efficiency ratio improved to 59.54%.

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.

First Financial Corporation (NASDAQ:THFF) reported its financial results for Q4 2021, showcasing a net income of $7.4 million, down from $15.7 million in Q4 2020. The decrease is attributed to $1.0 million in merger expenses from the acquisition of Hancock Bancorp and $4.0 million in related provisions. Although total loans rose by 7.88% year-over-year to $2.82 billion, net interest income fell to $36.8 million, with a net interest margin of 3.08%. Total deposits increased by 17.40% to $4.41 billion. The efficiency ratio worsened to 68.37% from 60.60% a year prior.

The directors of First Financial Corporation (NASDAQ: THFF) announced a semi-annual dividend of 53 cents per share, alongside a special dividend of 10 cents per share, both payable on January 14, 2022. Shareholders of record by the close of business on January 7, 2022 will be eligible. This decision brings the total declared dividend for 2021 to $1.16 per share, reflecting the company’s ongoing commitment to return value to its shareholders.

First Financial Corporation (NASDAQ:THFF) reported a strong performance for the third quarter of 2021, achieving net income of $16.1 million, up from $14.0 million in Q3 2020. Diluted earnings per share reached $1.24 compared to $1.02 a year prior. Total average deposits increased by 12.49% to $4.04 billion, while total loans decreased to $2.48 billion. The return on average assets improved to 1.34%, reflecting strong asset quality. However, net interest income slightly decreased to $36.0 million, and the net interest margin fell to 3.22%.

First Financial Corporation (NASDAQ: THFF) has announced a strategic plan to enhance operational efficiency by consolidating its banking center network. Over the next two quarters, the company will close and consolidate nine of its 81 branches, adding to a prior consolidation that resulted in ten branches closed by early 2022. This initiative aims to reduce operating expenses by approximately $2.3 million annually, starting in Q1 2022, despite incurring pre-tax charges of around $1.5 million during the transition.

First Financial Corporation (NASDAQ: THFF) announced a merger between its subsidiary, The Morris Plan Company of Terre Haute, and First Financial Bank N.A., effective December 31, 2021, pending regulatory approval. This strategic move is aimed at enhancing operational efficiencies, which are expected to materialize in the first quarter of 2022. First Financial Corporation operates 81 banking centers across four states and aims to further strengthen its market presence and service offerings through this integration.

First Financial Corporation (NASDAQ: THFF) announced a merger agreement with Hancock Bancorp, Inc. The deal involves First Financial purchasing Hancock's outstanding shares at $18.38 each, totaling approximately $31.35 million. Post-acquisition, the combined entity will hold about $5.0 billion in assets, $2.9 billion in loans, and $4.2 billion in deposits, enhancing its presence across Indiana, Illinois, Kentucky, and Tennessee. This merger is projected to be 7% accretive to earnings per share.

First Financial Corporation (NASDAQ:THFF) reported strong financial results for Q2 2021, with net income rising to $16.6 million compared to $11.9 million in Q2 2020. Diluted earnings per share increased to $1.24, up from $0.87 year-over-year. The corporation's total loans were $2.57 billion, down from $2.78 billion in the same period last year, while total deposits grew 12.90% to $3.99 billion. The efficiency ratio improved slightly, indicating better cost management. The provision for credit losses showed a reduction as asset quality remained strong.