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): July 25, 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 July 24, 2008, the Registrant issued a press release reporting its financial results for the six months ended June 30, 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 July 24, 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 July 24, 2008

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

Exhibit Index

Exhibit Number
99.1	Press Release, July 24, 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:
July 24, 2008	Michael A. Carty at (812) 238-6264

First Financial Reports Record 2nd Quarter 2008 Earnings

TERRE HAUTE, INDIANA — First Financial Corporation (NASDAQ:THFF) today announced net income for the three and six months ended June 30, 2008 of $7.1 million and $14.1 million, respectively. These are 11.4% and 9.8% improvements over the $6.41 million and $12.8 reported for the same periods of 2007. Earnings per share for the six months ended June 30, 2008 increased 10.3% to $1.07, an increase of $0.10 per average share outstanding over the same period for the prior year. Earnings per share for the second quarter of $.55 is also a record result for the Corporation and is a 10.9% increase over the same period for the prior year. Return on assets and return on equity for 2008 were 1.24% and 9.68% as compared to 1.18% and 9.29% for 2007. The Corporation increased net interest income for the first six months of 2008 by $1.9 million or 5.1% over the same period of 2007.

For the first six months of 2008, non-interest income rose by 3.9% or $614 thousand over the same period in 2007, while the increase in non-interest expense was 1.5% or $488 thousand. For the quarter ending June 30, 2008, non-interest income improved by 1.5% or $112 thousand over 2007, while non-interest expense increased 0.8% or $122 thousand.

Total assets of the Corporation grew 3.7% to $2.3 billion at June 30, 2008, with deposits increasing $100.0 million or 6.2% from June 30, 2007. Loans grew by $48.4 million and shareholders equity increased $11.9 million over the same period.

The 2008 book value per share of the Corporation’s stock increased $1.00 or 4.9% to $21.50 from $20.50 at June 30, 2007. For the 20^th consecutive year the Corporation increased dividends to our shareholders. A dividend of $.44 per share was declared during the second quarter of 2008.

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 June 30, 2008

(Dollar amounts in thousands except per share data)

	06/30/08			06/30/07			Change			% Change
Year to Date Information:
Net Income	$	14,093		$	12,836		$	1,257			9.79	%
Earnings Per Average Share	$	1.07		$	0.97		$	0.10			10.31	%
Return on Assets		1.24	%		1.18	%		0.06	%		5.08	%
Return on Equity		9.68	%		9.29	%		0.39	%		4.20	%
Net Interest Margin		3.93	%		3.89	%		0.04	%		1.03	%
Net Interest Income	$	38,916		$	37,022		$	1,894			5.12	%
Non-Interest Income	$	16,290		$	15,676		$	614			3.92	%
Non-Interest Expense	$	32,654		$	32,166		$	488			1.52	%
Loan Loss Provision	$	3,660		$	2,930		$	730			24.91	%
Net Charge Offs	$	3,458		$	3,750			($292	)		-7.79	%
Efficiency Ratio		56.96	%		58.68	%		-1.72	%		-2.93	%
Quarter to Date Information:
Net Income	$	7,143		$	6,413		$	730			11.38	%
Earnings Per Average Share	$	0.55		$	0.49		$	0.06			12.24	%
Return on Assets		1.26	%		1.17	%		0.09	%		7.69	%
Return on Equity		9.74	%		9.21	%		0.53	%		5.75	%
Net Interest Margin		4.01	%		3.87	%		0.14	%		3.62	%
Net Interest Income	$	19,960		$	18,565		$	1,395			7.51	%
Non-Interest Income	$	7,641		$	7,529		$	112			1.49	%
Non Interest Expense	$	16,230		$	16,108		$	122			0.76	%
Loan Loss Provision	$	1,735		$	1,240		$	495			39.92	%
Net Charge Offs	$	1,625		$	1,721			($96	)		-5.58	%
Efficiency Ratio		56.63	%		59.27	%		-2.64	%		-4.46	%
Balance Sheet:
Assets	$	2,303,425		$	2,220,294		$	83,131			3.74	%
Deposits	$	1,610,835		$	1,510,818		$	100,017			6.62	%
Loans	$	1,459,582		$	1,411,166		$	48,416			3.43	%
Shareholders’ Equity	$	281,717		$	269,795		$	11,922			4.42	%
Book Value Per Share	$	21.51		$	20.50		$	1.01			4.92	%
Average Assets		2,271,771			2,181,863		$	89,908			4.12	%