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): October 19, 2007

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 October 19, 2007, the Registrant issued a press release reporting its financial results for the nine months ended September 30, 2007. 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 October 19, 2007 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 October 19, 2007

Michael A. Carty
Michael A. Carty
Secretary/Treasurer and Chief Financial Officer

Exhibit Index

Exhibit Number
99.1	Press Release, October 19, 2007 issued by First Financial Corporation

EX-99.1

Exhibit 99.1

News Release

One First Financial Plaza, Terre Haute, IN 47807 · (812) 238-6000

FOR IMMEDIATE RELEASE	For more information contact:
October 19, 2007	Michael A. Carty at (812) 238-6264

Third quarter earnings announced for First Financial Corporation

TERRE HAUTE, INDIANA — First Financial Corporation (NASDAQ:THFF) today announced results of operations for the first nine months of 2007. Earnings per share rose to $1.45, an increase of 10.7% over the $1.31 reported for the same period in 2006. Net income was $19.2 million reflecting a 10.4% improvement over the $17.4 million reported for the nine months ended September 30, 2006.

For the three months ended September 30, 2007 earnings per share of $0.48 and net income of $6.4 million were improvements of 17.1% and 16.6%, respectively, over the $0.41 per average share outstanding and $5.5 million net income for the third quarter of 2006. Compared to the same period of 2006, net charge-offs of loans for the third quarter of 2007 decreased by 49.7%, or $1.4 million, allowing the provision for loan losses to be reduced by 36.9% or $920 thousand.

The net interest margin for 2007 of 3.89% was down slightly from the 3.92% of 2006; however net interest income for the nine months and quarter ended September 30, 2007 was $620 thousand and $505 thousand higher, respectively, than that reported for the same periods in 2006.

Non-interest income for the nine months and quarter ended September 30, 2007 was $1.8 million and $0.8 million higher, respectively, than that reported for the same periods in 2006. This increase is the result of increased loan fee income and gains related to the sale of mortgage loans. Insurance fee income also increased over the same period of 2006.

Non-interest expense for the quarter ended September 30, 2007 increased 2.92% over the same period of 2006. For the nine months ended September 30, 2007 non-interest expense increased a modest $197 thousand, or 0.41% over the same period in 2006.

Deposits increased $18.3 million to $1.496 billion on September 30, 2007, compared to $1.478 billion on September 30, 2006. Total loans were $1.429 billion on September 30, 2007, compared to $1.394 billion on September 30, 2006.

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

First Financial Corporation

For the Quarter and the Nine Months Ending September 30, 2007
Unaudited
(Dollar amounts in thousands except per share data)

	09/30/07			09/30/06			Change			% Change
Year to Date Information:
Net Income	$	19,198		$	17,389		$	1,809			10.40	%
Earnings Per Average Share	$	1.45		$	1.31		$	0.14			10.69	%
Return on Assets		1.17	%		1.08	%		0.09	%		8.33	%
Return on Equity		9.26	%		8.48	%		0.78	%		9.20	%
Net Interest Margin		3.89	%		3.92	%		-0.03	%		-0.77	%
Net Interest Income	$	55,771		$	55,151		$	620			1.12	%
Non-Interest Income	$	23,511		$	21,692		$	1,819			8.39	%
Non-Interest Expense	$	48,294		$	48,097		$	197			0.41	%
Loan Loss Provision	$	4,505		$	5,343		$	(838	)		-15.68	%
Net Charge Offs	$	5,168		$	5,563		$	(395	)		-7.10	%
Efficiency Ratio		55.78	%		59.68	%		-3.90	%		-6.53	%
Quarter to Date Information:
Net Income	$	6,362		$	5,455		$	907			16.63	%
Earnings Per Average Share	$	0.48		$	0.41		$	0.07			17.07	%
Return on Assets		1.16	%		1.02	%		0.14	%		13.73	%
Return on Equity		9.28	%		8.01	%		1.27	%		15.86	%
Net Interest Margin		3.89	%		3.92	%		-0.03	%		-0.77	%
Net Interest Income	$	18,749		$	18,244		$	505			2.77	%
Non-Interest Income	$	7,835		$	7,064		$	771			10.91	%
Non Interest Expense	$	16,128		$	15,670		$	458			2.92	%
Loan Loss Provision	$	1,575		$	2,495		$	(920	)		-36.87	%
Net Charge Offs	$	1,417		$	2,818		$	(1,401	)		-49.72	%
Efficiency Ratio		58.19	%		58.87	%		-0.68	%		-1.16	%
Balance Sheet:
Assets	$	2,216,506		$	2,141,769		$	74,737			3.49	%
Deposits	$	1,495,941		$	1,477,602		$	18,339			1.24	%
Loans	$	1,428,804		$	1,394,050		$	34,754			2.49	%
Shareholders’ Equity	$	278,408		$	277,491		$	917			0.33	%
Book Value Per Share	$	21.15		$	20.93		$	0.22			1.05	%
Average Assets	$	2,188,845		$	2,143,864		$	44,981			2.10	%