8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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) May 17, 2006

                           First Financial Corporation
             (Exact name of registrant as specified in its charter)

          Indiana                      000-16759                 35-1546989
(State or other jurisdiction          (Commission              (IRS Employer
     of incorporation)                File Number)           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

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 (see General Instruction A.2 below):

/ /  Written communications pursuant to Rule 425 under the Securities Act

/ /  Soliciting material pursuant to Rule 14a-12 under the Exchange Act

/ /  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act

/ /  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act

- -------------------------------------------------------------------------------

ITEM 8.01   OTHER EVENTS.

            On May 17, 2006, First Financial Corporation issued a press release
            to report the declaration of the semi-annual dividend of $.42 per
            share payable July 3, 2006 to shareholders of record on June 16,
            2006. The release is furnished as Exhibit 99.1 hereto.

ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS.

            (c)   Exhibits.

            Exhibit 99.1 Press Release, dated May 17, 2006 issued by First
            Financial Corporation. This exhibit shall not be deemed "filed" for
            purposes of Section 18 of the Securities Exchange Act of 1934, as
            amended (the "Exchange Act") or incorporated by reference in any
            filing under the Securities Act of 1933, as amended, or the Exchange
            Act, except as shall be expressly set forth by specific reference in
            such a filing.



                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                     First Financial Corporation



Dated:  May 17, 2006                (s) Norman L. Lowery
                                    ---------------------------
                                          Norman L. Lowery
                                      Vice Chairman and Chief
                                          Executive Officer


Dated:  May 17, 2006                (s) Michael A. Carty
                                    ---------------------------
                                                  Michael A. Carty
                                     Secretary/Treasurer and Chief Financial
                                                  Officer

EX-99.1

                                                                    EXHIBIT 99.1


FOR IMMEDIATE RELEASE                       For more information contact:
May 17, 2006                                Michael A. Carty at (812) 238-6000



FIRST FINANCIAL CORPORATION DECLARES SEMI-ANNUAL DIVIDEND


TERRE HAUTE, INDIANA - The directors of First Financial Corporation (NASDAQ:
THFF) have declared a semi-annual dividend of 42 cents per share payable on July
3, 2006, to shareholders of record at the close of business June 16, 2006.
Today's declaration increases the total dividend paid in 2006 to 84 cents per
share, a 5.0% increase from 2005.

Donald E. Smith, Chairman, noted that the corporation's performance has made it
possible to increase dividends to shareholders for 18 consecutive years.

"As a community bank, we continue to thrive by providing convenient locations,
high-quality service and attractive products that our customers desire," he
said. "Our deep roots in the communities we serve give us the competitive
advantage of knowing our customers and their financial needs."

First Financial Corporation is the holding company for First Financial Bank
N.A., with 47 banking centers in western Indiana and eastern Illinois; The
Morris Plan Company of Terre Haute; and Forrest Sherer, Inc., a full service
insurance agency.