8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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): April 23, 2010

First Financial Corporation

(Exact name of registrant as specified in its charter)

Indiana	000-16759	35-1546989
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

P. O. Box 540 , Terre Haute, Indiana	47808
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: 812-238-6264

(Former name or former address, if changed since last report.)

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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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

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

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

Item 2.02. Results of Operations and Financial Condition

Item 9.01. Financial Statements and Exhibits

On April 23, 2010, the Registrant issued a press release reporting its financial results for the three months ended March 31, 2010. A copy of the press release is being furnished as an exhibit to this report and is incorporated by reference into this item 12.

The foregoing information, including the information contained in the press release, is being furnished pursuant to this Item 12 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.

The exhibit to this report is as follows:

Exhibit No.	Description
99.1	Press Release, dated April 23, 2010 issued by First Financial Corporation

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 April 23, 2010	Rodger A. McHargue
	Rodger A. McHargue
	Secretary/Treasurer and Chief Financial Officer

Exhibit Index

Exhibit Number
99.1	Press Release, April 23, 2010 issued by First Financial Corporation

EX-99.1

Exhibit 99.1

News Release

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

	For more information contact:
April 23, 2010	Rodger A. McHargue at (812) 238-6334

First Financial Corporation reports 1^st Quarter Operating Results

TERRE HAUTE, INDIANA — First Financial Corporation (NASDAQ:THFF) today announced the results of first-quarter performance. Net income increased 25.5% to $5.69 million from $4.53 million for the first three months of 2009. Earnings per share increased 22.9% to $0.43 per share from $0.35 for the first quarter of 2009. Continued strong net interest income was up $2.8 million to $23.3 million from the $20.5 million of 2009. The net interest margin increased to 4.26% for the first three months of 2010 as the Corporation reduced the cost of funding through the maturities of Federal Home Loan Bank borrowings that were at higher rates.

Non-interest income increased to $5.0 million from $4.7 million in the first quarter of 2009. Income increases were primarily in trust fee income and the fee income associated with increased usage of electronic banking.

Non-interest expense increased to $18.3 million from $16.7 million for the first three months of 2009. Federal deposit insurance expense increased $396 thousand or 129.4%. Excluding federal deposit insurance, the majority of the increase in non-interest expense compared to the same period of 2009 relates to the acquisition of the former First National Bank of Danville in the third quarter of 2009.

Loans grew 9.2% to $1.62 billion from $1.48 billion at March 31, 2009. Deposits increased from $1.58 billion to $1.81 billion or 14.2%. Shareholders’ equity increased 6.8% to $316.1 million and the book value per share increased $1.53 to $24.09.

First Financial Corporation is the holding company for First Financial Bank NA in Indiana and Illinois, The Morris Plan Company of Terre Haute and Forrest Sherer Inc. in Indiana.

First Financial Corporation

For the Quarter Ending March 31, 2010

(Dollar amounts in thousands except per share data)

	03/31/10			03/31/09			Change			% Change
Quarter to Date Information:
Net Income	$	5,686		$	4,530		$	1,156			25.52	%
Earnings Per Average Share	$	0.43		$	0.35		$	0.08			22.86	%
Return on Assets		0.92	%		0.79	%		0.13	%		16.46	%
Return on Equity		7.29	%		6.17	%		1.12	%		18.15	%
Net Interest Margin		4.26	%		4.03	%		0.23	%		5.71	%
Net Interest Income		23,281			20,463		$	2,818			13.77	%
Non-Interest Income	$	5,014		$	4,746			268			5.65	%
Non-Interest Expense	$	18,281		$	16,697		$	1,584			9.49	%
Loan Loss Provision	$	2,430		$	2,830			($400	)		-14.13	%
Net Charge Offs	$	2,489		$	2,081		$	408			19.61	%
Efficiency Ratio		61.76	%		62.89	%		-1.13	%		-1.80	%
Balance Sheet:
Assets	$	2,473,056		$	2,293,847		$	179,209			7.81	%
Deposits	$	1,806,542		$	1,581,323		$	225,219			14.24	%
Loans	$	1,620,690		$	1,484,804		$	135,886			9.15	%
Shareholders’ Equity	$	316,096		$	295,917		$	20,179			6.82	%
Book Value Per Share	$	24.09		$	22.56		$	1.53			6.78	%
Average Assets		2,481,084			2,301,617		$	179,467			7.80	%