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 16, 2008

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 16, 2008, the Registrant issued a press release reporting its financial results for the three months ended March 31, 2008. 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 16, 2008 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 16, 2008

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

Exhibit Index

Exhibit Number		Description
	99.1	Press Release, dated April 16, 2008 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 16, 2008	Michael A. Carty at (812) 238-6264

First Financial Releases 1st Quarter 2008 Results

TERRE HAUTE, INDIANA — First Financial Corporation (NASDAQ:THFF) today announced net income for the three months ended March 31, 2008 of $6.95 million. This is an 8.2% improvement over the $6.42 million reported for the same period of 2007. Earnings per share increased 10.4% to $0.53, an increase of $0.05 per average share outstanding. Return on assets and return on equity for 2008 were 1.23% and 9.62% as compared to 1.18% and 9.36% for 2007. The Corporation increased net interest income for the first quarter of 2008 by $499 thousand or 2.7% over the same period of 2007. This was accomplished during a period in which the Federal Reserve Bank decreased the federal funds rate 2% putting pressure on margins.

Non-interest income improved by 6.2% or $502 thousand over 2007, while the increase in non-interest expense was $366 thousand or 2.3%. The overall efficiency ratio of the Corporation improved by 6.82% to 51.27%.

Total assets of the Corporation grew 4.3% to $2.3 billion at March 31, 2008, with deposits increasing $77.4 million or 5.1% from March 31, 2007. Loans grew by $33.2 million and shareholders equity increased $16.3 million over the same period.

The 2008 book value per share of the Corporation’s stock increased $1.44 or 6.9% to $22.38 from $20.94 at March 31,2007.

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, 2008

(Dollar amounts in thousands except per share data)

	3/31/08			3/31/07			Change			% Change
Quarter to Date Information:
Net Income	$	6,950		$	6,423		$	527			8.20	%
Earnings Per Average Share	$	.53		$	.48		$	0.05			10.42	%
Return on Assets		1.23	%		1.18	%		0.05	%		4.24	%
Return on Equity		9.62	%		9.36	%		0.26	%		2.78	%
Net Interest Margin		3.85	%		3.91	%		-0.06	%		-1.53	%
Net Interest Income	$	18,956		$	18,457		$	499			2.70	%
Non-Interest Income	$	8,649		$	8,147		$	502			6.16	%
Non-Interest Expense	$	16,424		$	16,058		$	366			2.28	%
Loan Loss Provision	$	1,925		$	1,690		$	235			13.91	%
Net Charge Offs	$	1,833		$	2,029			($196	)		-9.66	%
Efficiency Ratio		51.27	%		58.09	%		-6.82	%		-11.73	%
Balance Sheet:
Assets	$	2,298,834		$	2,203,730		$	95,104			4.32	%
Deposits	$	1,592,650		$	1,515,288		$	77,362			5.11	%
Loans	$	1,425,716		$	1,392,472		$	33,244			2.39	%
Shareholders’ Equity	$	293,228		$	276,929		$	16,299			5.89	%
Book Value Per Share	$	22.38		$	20.94		$	1.44			6.87	%
Average Assets	$	2,268,177		$	2,169,732		$	98,445			4.54	%