UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Commission File Number:
(State or other jurisdiction | (I.R.S. Employer | |
incorporation or organization) | Identification No.) | |
(Address of principal executive office) | (Zip Code) | |
( | ||
(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:
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol | Name of each exchange on which registered | ||
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 7, 2023, the Registrant issued a press release reporting its financial results for the year ended December 31, 2022. 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 7, 2023 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 7, 2023 | |
/s/ Rodger A. McHargue | |
Rodger A. McHargue | |
Secretary/Treasurer and Chief Financial Officer |
Exhibit 99.1
FIRST FINANCIAL CORPORATION
One First Financial Plaza, Terre Haute, Indiana 47807 (812) 238-6000
First Financial Corporation Reports 2022 Results
Terre Haute, Indiana, February 2, 2023 – First Financial Corporation (NASDAQ:THFF) today announced results for the fourth quarter of 2022.
● | Net income was $16.5 million compared to $7.4 million for the same period of 2021; |
● | Diluted net income per common share of $1.37 compared to $0.58 for the same period of 2021; |
● | Return on average assets was 1.34% compared to 0.58% for the three months ended December 31, 2021; |
● | Credit loss provision was $2.7 million compared to $5.7 million for the fourth quarter 2021; and |
● | Pre-tax, pre-provision net income was $21.7 million compared to $14.3 million for the same period in 2021.1 |
The Corporation further reported results for the year ended December 31, 2022:
● | Net income was $71.1 million compared to $53.0 million for the same period of 2021; |
● | Diluted net income per common share of $5.82 compared to $4.02 for the same period of 2021; |
● | Return on average assets was 1.41% compared to 1.10% for the twelve months ended December 31, 2021; |
● | Negative provision for credit losses was $2.0 million compared to provision for credit losses of $2.5 million for the twelve months ended December 31, 2021; and |
● | Pre-tax, pre-provision net income was $84.9 million compared to $68.1 million for the same period in 2021.1 |
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.
“We are pleased with our fourth quarter and full year results” said Norman L. Lowery, Chairman and Chief Executive Officer. “2022 was a record year for net income. Loan growth continues to be strong which contributed to our seventh straight quarter of net interest income growth.”
Average Total Loans
Average total loans for the fourth quarter of 2022 were $3.02 billion versus $2.63 billion for the comparable period in 2021, an increase of $382 million or 14.5%.
Total Loans Outstanding
Total loans outstanding as of December 31, 2022, were $3.07 billion compared to $2.82 billion as of December 31, 2021, an increase of $252 million or 8.93%. On a linked quarter basis, total loans increased $97.0 million or 3.26% from $2.97 billion as of September 30, 2022.
Average Total Deposits
Average total deposits for the quarter ended December 31, 2022, were $4.38 billion versus $4.31 billion as of December 31, 2021, an increase of $71 million or 1.7%.
Total Deposits
Total deposits were $4.37 billion as of December 31, 2022, compared to $4.41 billion as of December 31, 2021.
Book Value Per Share
Book Value per share was $39.44 at December 31, 2022, compared to $46.13 at December 31, 2021. The decrease was partially driven by the repurchase of 618,263 shares of the Corporation’s common stock.
Shareholder Equity
Shareholder equity at December 31, 2022, was $475.3 million compared to $582.6 million on December 31, 2021. The decrease in shareholder’s equity is reflective of the downturn in the markets which affected the accumulated other comprehensive income/(loss) (“AOCI”) on investments available for sale. AOCI has decreased $138 million in comparison to December 31, 2021.
Tangible Common Equity to Tangible Asset Ratio
The Corporation’s tangible common equity to tangible asset ratio was 7.79% at December 31, 2022, compared to 9.62% at December 31, 2021. The decrease was partially driven by the aforementioned share repurchases.
Net Interest Income
Net interest income for the fourth quarter of 2022 was $43.7 million, compared to $36.8 million reported for the same period of 2021, an increase of $6.8 million or 18.53%.
Net Interest Margin
The net interest margin for the quarter ended December 31, 2022, was 3.81% compared to the 3.08% reported at December 31, 2021. On a linked quarter basis, the net interest margin increased 10 basis points from 3.71% as of September 30, 2022.
Nonperforming Loans
Nonperforming loans as of December 31, 2022, were $13.4 million versus $14.9 million as of December 31, 2021. The ratio of nonperforming loans to total loans and leases was 0.44% as of December 31, 2022, versus 0.53% as of December 31, 2021.
Credit Loss Provision
The provision for credit losses for the three months ended December 31, 2022 was $2.73 million, compared to $5.71 million for the fouth quarter 2021.
Net Charge-Offs
In the fourth quarter of 2022 net charge-offs were $2.4 million compared to $1.8 million in the same period of 2021.
Allowance for Credit Losses
The Corporation’s allowance for credit losses as of December 31, 2022, was $39.8 million compared to $48.3 million as of December 31, 2021. The allowance for credit losses as a percent of total loans was 1.30% as of December 31, 2022, compared to 1.72% as of December 31, 2021.
Non-Interest Income
Non-interest income for the three months ended December 31, 2022 and 2021 was $10.6 million and $10.8 million, respectively.
Non-Interest Expense
Non-interest expense for the three months ended December 31, 2022, was $32.5 million compared to $33.3 million in 2021.
Efficiency Ratio
The Corporation’s efficiency ratio was 58.78% for the quarter ending December 31, 2022, versus 68.37% for the same period in 2021.
Income Taxes
Income tax expense for the three months ended December 31, 2022, was $2.5 million versus $1.2 million for the same period in 2021. The effective tax rate for 2022 was 19.0% compared to 19.2% for 2021.
About First Financial Corporation
First Financial Corporation (NASDAQ:THFF) is the holding company for First Financial Bank N.A. First Financial Bank N.A., the fifth oldest national bank in the United States, operates 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
| | Three Months Ended | | Year Ended | |||||||||||
| | December 31, | | September 30, | | December 31, | | December 31, | | December 31, | |||||
|
| 2022 |
| 2022 |
| 2021 |
| 2022 |
| 2021 | |||||
END OF PERIOD BALANCES | | | | | | | | | | | | | | | |
Assets | | $ | 4,989,281 | | $ | 5,009,339 | | $ | 5,175,099 | | $ | 4,989,281 | | $ | 5,175,099 |
Deposits | | $ | 4,368,871 | | $ | 4,407,506 | | $ | 4,409,569 | | $ | 4,368,871 | | $ | 4,409,569 |
Loans, including net deferred loan costs | | $ | 3,067,438 | | $ | 2,970,475 | | $ | 2,815,895 | | $ | 3,067,438 | | $ | 2,815,895 |
Allowance for Credit Losses | | $ | 39,779 | | $ | 39,495 | | $ | 48,305 | | $ | 39,779 | | $ | 48,305 |
Total Equity | | $ | 475,284 | | $ | 438,626 | | $ | 582,576 | | $ | 475,284 | | $ | 582,576 |
Tangible Common Equity (a) | | $ | 381,585 | | $ | 344,617 | | $ | 488,417 | | $ | 381,585 | | $ | 488,417 |
| | | | | | | | | | | | | | | |
AVERAGE BALANCES | |
|
| |
|
| |
|
| |
|
| |
|
|
Total Assets | | $ | 4,930,611 | | $ | 5,048,849 | | $ | 5,086,702 | | $ | 5,043,987 | | $ | 4,814,350 |
Earning Assets | | $ | 4,690,594 | | $ | 4,774,080 | | $ | 4,875,039 | | $ | 4,800,481 | | $ | 4,611,741 |
Investments | | $ | 1,393,753 | | $ | 1,436,179 | | $ | 1,410,351 | | $ | 1,432,681 | | $ | 1,278,498 |
Loans | | $ | 3,015,903 | | $ | 2,917,457 | | $ | 2,633,559 | | $ | 2,884,053 | | $ | 2,602,344 |
Total Deposits | | $ | 4,383,505 | | $ | 4,406,187 | | $ | 4,312,115 | | $ | 4,408,510 | | $ | 4,037,876 |
Interest-Bearing Deposits | | $ | 3,509,416 | | $ | 3,515,568 | | $ | 3,823,428 | | $ | 3,517,468 | | $ | 3,320,112 |
Interest-Bearing Liabilities | | $ | 84,210 | | $ | 95,098 | | $ | 110,490 | | $ | 97,134 | | $ | 107,367 |
Total Equity | | $ | 438,767 | | $ | 481,225 | | $ | 589,197 | | $ | 494,837 | | $ | 597,369 |
| | | | | | | | | | | | | | | |
INCOME STATEMENT DATA | |
|
| |
|
| |
|
| |
|
| |
|
|
Net Interest Income | | $ | 43,658 | | $ | 43,104 | | $ | 36,832 | | $ | 165,042 | | $ | 143,401 |
Net Interest Income Fully Tax Equivalent (b) | | $ | 44,724 | | $ | 44,402 | | $ | 37,953 | | $ | 169,699 | | $ | 147,765 |
Provision for Credit Losses | | $ | 2,725 | | $ | 1,050 | | $ | 5,710 | | $ | (2,025) | | $ | 2,466 |
Non-interest Income | | $ | 10,568 | | $ | 12,140 | | $ | 10,767 | | $ | 46,716 | | $ | 42,084 |
Non-interest Expense | | $ | 32,501 | | $ | 31,504 | | $ | 33,312 | | $ | 126,023 | | $ | 117,406 |
Net Income | | $ | 16,521 | | $ | 18,051 | | $ | 7,398 | | $ | 71,109 | | $ | 52,987 |
| | | | | | | | | | | | | | | |
PER SHARE DATA | |
|
| |
|
| |
|
| |
|
| |
|
|
Basic and Diluted Net Income Per Common Share | | $ | 1.37 | | $ | 1.50 | | $ | 0.58 | | $ | 5.82 | | $ | 4.02 |
Cash Dividends Declared Per Common Share | | $ | 0.74 | | $ | — | | $ | 0.63 | | $ | 1.28 | | $ | 1.16 |
Book Value Per Common Share | | $ | 39.44 | | $ | 36.49 | | $ | 46.13 | | $ | 39.44 | | $ | 46.13 |
Tangible Book Value Per Common Share (c) | | $ | 28.67 | | $ | 33.27 | | $ | 38.66 | | $ | 31.66 | | $ | 38.67 |
Basic Weighted Average Common Shares Outstanding | |
| 12,037 | |
| 12,029 | |
| 12,804 | |
| 12,211 | |
| 13,190 |
Key Ratios |
| Three Months Ended | | Year Ended |
| ||||||
| | December 31, |
| September 30, |
| December 31, |
| December 31, |
| December 31, |
|
| | 2022 |
| 2022 |
| 2021 |
| 2022 |
| 2021 |
|
Return on average assets |
| 1.34 | % | 1.43 | % | 0.58 | % | 1.41 | % | 1.10 | % |
Return on average common shareholder's equity |
| 15.06 | % | 15.00 | % | 5.02 | % | 14.37 | % | 8.87 | % |
Efficiency ratio |
| 58.78 | % | 55.72 | % | 68.37 | % | 58.23 | % | 61.84 | % |
Average equity to average assets |
| 8.90 | % | 9.53 | % | 11.58 | % | 9.81 | % | 12.41 | % |
Net interest margin (a) |
| 3.81 | % | 3.71 | % | 3.08 | % | 3.54 | % | 3.20 | % |
Net charge-offs to average loans and leases |
| 0.32 | % | 0.19 | % | 0.27 | % | 0.23 | % | 0.10 | % |
Credit loss reserve to loans and leases |
| 1.30 | % | 1.33 | % | 1.72 | % | 1.30 | % | 1.72 | % |
Credit loss reserve to nonperforming loans |
| 289.51 | % | 276.59 | % | 321.78 | % | 296.79 | % | 324.11 | % |
Nonperforming loans to loans and leases |
| 0.44 | % | 0.48 | % | 0.53 | % | 0.44 | % | 0.53 | % |
Tier 1 leverage |
| 10.78 | % | 10.33 | % | 9.83 | % | 10.78 | % | 9.83 | % |
Risk-based capital - Tier 1 |
| 13.58 | % | 13.69 | % | 14.37 | % | 13.58 | % | 14.37 | % |
(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, | |||||
| | 2022 | | 2022 | | 2021 | | 2022 | | 2021 | |||||
Accruing loans and leases past due 30-89 days | | $ | 28,875 | | $ | 18,626 | | $ | 17,096 | | $ | 28,875 | | $ | 17,096 |
Accruing loans and leases past due 90 days or more | | $ | 1,119 | | $ | 1,185 | | $ | 515 | | $ | 1,119 | | $ | 515 |
Nonaccrual loans and leases | | $ | 8,481 | | $ | 9,147 | | $ | 9,590 | | $ | 8,481 | | $ | 9,590 |
Total troubled debt restructuring | | $ | 3,803 | | $ | 3,947 | | $ | 4,799 | | $ | 3,803 | | $ | 4,799 |
Other real estate owned | | $ | 337 | | $ | 214 | | $ | 108 | | $ | 337 | | $ | 108 |
Nonperforming loans and other real estate owned | | $ | 13,740 | | $ | 14,493 | | $ | 15,012 | | $ | 13,740 | | $ | 15,012 |
Total nonperforming assets | | $ | 16,726 | | $ | 17,604 | | $ | 18,371 | | $ | 16,726 | | $ | 18,371 |
Gross charge-offs | | $ | 4,388 | | $ | 5,653 | | $ | 3,113 | | $ | 15,706 | | $ | 8,216 |
Recoveries | | $ | 1,947 | | $ | 2,630 | | $ | 1,312 | | $ | 9,205 | | $ | 5,569 |
Net charge-offs/(recoveries) | | $ | 2,441 | | $ | 3,023 | | $ | 1,801 | | $ | 6,501 | | $ | 2,647 |
Non-GAAP Reconciliations | | Three Months Ended December 31, | ||||
|
| 2022 |
| 2021 | ||
($in thousands, except EPS) | | | | | | |
Income before Income Taxes | | $ | 19,000 | | $ | 8,577 |
Provision for credit losses | |
| 2,725 | |
| 5,710 |
Provision for unfunded commitments | |
| — | |
| — |
Pre-tax, Pre-provision Income | | $ | 21,725 | | $ | 14,287 |
Non-GAAP Reconciliations | | Year Ended December 31, | ||||
|
| 2022 |
| 2021 | ||
($ in thousands, except EPS) | | | | | | |
Income before Income Taxes | | $ | 87,760 | | $ | 65,613 |
Provision for credit losses | | | (2,025) | | | 2,466 |
Provision for unfunded commitments | | | (850) | | | — |
Pre-tax, Pre-provision Income | | $ | 84,885 | | $ | 68,079 |
CONSOLIDATED BALANCE SHEETS
(Dollar amounts in thousands, except per share data)
|
| December 31, |
| December 31, | ||
| | 2022 | | 2021 | ||
|
| (unaudited) | ||||
ASSETS | | | | | | |
Cash and due from banks | | $ | 220,039 | | $ | 682,807 |
Federal funds sold | |
| 9,374 | |
| 308 |
Securities available-for-sale | |
| 1,332,947 | |
| 1,364,734 |
Loans: | |
| | |
|
|
Commercial | |
| 1,798,260 | |
| 1,674,066 |
Residential | |
| 673,464 | |
| 664,509 |
Consumer | |
| 588,539 | |
| 474,026 |
| |
| 3,060,263 | |
| 2,812,601 |
(Less) plus: | |
|
| |
|
|
Net deferred loan costs | |
| 7,175 | |
| 3,294 |
Allowance for credit losses | |
| (39,779) | |
| (48,305) |
| |
| 3,027,659 | |
| 2,767,590 |
Restricted stock | |
| 15,378 | |
| 16,200 |
Accrued interest receivable | |
| 21,288 | |
| 16,946 |
Premises and equipment, net | |
| 66,147 | |
| 69,522 |
Bank-owned life insurance | |
| 115,704 | |
| 116,997 |
Goodwill | |
| 86,985 | |
| 86,135 |
Other intangible assets | |
| 6,714 | |
| 8,024 |
Other real estate owned | |
| 337 | |
| 108 |
Other assets | |
| 86,709 | |
| 45,728 |
TOTAL ASSETS | | $ | 4,989,281 | | $ | 5,175,099 |
| | | | | | |
LIABILITIES AND SHAREHOLDERS’ EQUITY | |
|
| |
|
|
Deposits: | |
|
| |
|
|
Non-interest-bearing | | $ | 857,920 | | $ | 914,933 |
Interest-bearing: | |
| | |
|
|
Certificates of deposit exceeding the FDIC insurance limits | |
| 50,608 | |
| 74,015 |
Other interest-bearing deposits | |
| 3,460,343 | |
| 3,420,621 |
| |
| 4,368,871 | |
| 4,409,569 |
Short-term borrowings | |
| 70,875 | |
| 93,374 |
FHLB advances | |
| 9,589 | |
| 15,937 |
Other liabilities | |
| 64,662 | |
| 73,643 |
TOTAL LIABILITIES | |
| 4,513,997 | |
| 4,592,523 |
| | | | | | |
Shareholders’ equity | |
|
| |
|
|
Common stock, $.125 stated value per share; | |
|
| |
|
|
Authorized shares-40,000,000 | |
|
| |
|
|
Issued shares-16,114,992 in 2022 and 16,096,313 in 2021 | |
|
| |
|
|
Outstanding shares-12,051,964 in 2022 and 12,629,893 in 2021 | |
| 2,012 | |
| 2,009 |
Additional paid-in capital | |
| 143,185 | |
| 141,979 |
Retained earnings | |
| 614,829 | |
| 559,139 |
Accumulated other comprehensive income/(loss) | |
| (139,983) | |
| (2,426) |
Less: Treasury shares at cost-4,063,028 in 2022 and 3,466,420 in 2021 | |
| (144,759) | |
| (118,125) |
TOTAL SHAREHOLDERS’ EQUITY | |
| 475,284 | |
| 582,576 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | | $ | 4,989,281 | | $ | 5,175,099 |
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(Dollar amounts in thousands, except per share data)
| | | | | | | | | |
| | Year Ended December 31, | |||||||
|
| 2022 |
| 2021 |
| 2020 | |||
|
| (unaudited) | |||||||
INTEREST INCOME: | | | | | | | | | |
Loans, including related fees | | $ | 146,295 | | $ | 128,000 | | $ | 137,241 |
Securities: | |
| | |
|
| |
|
|
Taxable | |
| 21,014 | |
| 13,110 | |
| 12,979 |
Tax-exempt | |
| 9,974 | |
| 8,762 | |
| 7,952 |
Other | |
| 6,018 | |
| 2,326 | |
| 2,313 |
TOTAL INTEREST INCOME | |
| 183,301 | |
| 152,198 | |
| 160,485 |
INTEREST EXPENSE: | |
|
| |
|
| |
|
|
Deposits | |
| 16,743 | |
| 8,158 | |
| 12,801 |
Short-term borrowings | |
| 1,243 | |
| 387 | |
| 568 |
Other borrowings | |
| 273 | |
| 252 | |
| 770 |
TOTAL INTEREST EXPENSE | |
| 18,259 | |
| 8,797 | |
| 14,139 |
NET INTEREST INCOME | |
| 165,042 | |
| 143,401 | |
| 146,346 |
Provision for credit losses | |
| (2,025) | |
| 2,466 | |
| 10,528 |
NET INTEREST INCOME AFTER PROVISION | |
|
| |
|
| |
|
|
FOR LOAN LOSSES | |
| 167,067 | |
| 140,935 | |
| 135,818 |
NON-INTEREST INCOME: | |
| | |
|
| |
|
|
Trust and financial services | |
| 5,155 | |
| 5,255 | |
| 5,423 |
Service charges and fees on deposit accounts | |
| 11,842 | |
| 10,089 | |
| 10,256 |
Other service charges and fees | |
| 18,604 | |
| 18,212 | |
| 15,644 |
Securities gains (losses), net | |
| 3 | |
| 114 | |
| 233 |
Gain on sales of mortgage loans | |
| 1,994 | |
| 5,003 | |
| 6,626 |
Other | |
| 9,118 | |
| 3,411 | |
| 4,294 |
TOTAL NON-INTEREST INCOME | |
| 46,716 | |
| 42,084 | |
| 42,476 |
NON-INTEREST EXPENSE: | |
|
| |
|
| |
|
|
Salaries and employee benefits | |
| 65,555 | |
| 64,474 | |
| 61,931 |
Occupancy expense | |
| 9,764 | |
| 8,774 | |
| 8,202 |
Equipment expense | |
| 12,391 | |
| 10,174 | |
| 10,568 |
FDIC Expense | |
| 2,327 | |
| 1,294 | |
| 316 |
Other | |
| 35,986 | |
| 32,690 | |
| 31,741 |
TOTAL NON-INTEREST EXPENSE | |
| 126,023 | |
| 117,406 | |
| 112,758 |
INCOME BEFORE INCOME TAXES | |
| 87,760 | |
| 65,613 | |
| 65,536 |
Provision for income taxes | |
| 16,651 | |
| 12,626 | |
| 11,692 |
NET INCOME | |
| 71,109 | |
| 52,987 | |
| 53,844 |
OTHER COMPREHENSIVE INCOME (LOSS) | |
|
| |
|
| |
|
|
Change in unrealized gains/(losses) on securities, net of reclassifications and taxes | |
| (144,579) | |
| (18,148) | |
| 19,269 |
Change in funded status of post retirement benefits, net of taxes | |
| 7,022 | |
| 6,298 | |
| (2,004) |
COMPREHENSIVE INCOME (LOSS) | | $ | (66,448) | | $ | 41,137 | | $ | 71,109 |
PER SHARE DATA | |
|
| |
|
| |
|
|
Basic and Diluted Earnings per Share | | $ | 5.82 | | $ | 4.02 | | $ | 3.93 |
Weighted average number of shares outstanding (in thousands) | |
| 12,211 | |
| 13,190 | |
| 13,716 |
Document and Entity Information |
Feb. 07, 2023 |
---|---|
Document and Entity Information [Abstract] | |
Document Type | 8-K |
Document Period End Date | Feb. 07, 2023 |
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 |
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