First Financial Corporation

Company overview

First Financial Corporation is a financial holding company headquartered in Terre Haute, Indiana. Its primary operating subsidiary is First Financial Bank, N.A., a national bank. The Corporation provides a broad range of financial services through its bank, including commercial, mortgage, and consumer lending; lease financing; trust account services; and depository services.

Geographic footprint and scale

The company operates across Indiana, Illinois, Kentucky, Tennessee, and Georgia. First Financial Bank operates 79 full-service branches and 8 loan production offices (4 in Indiana and 4 in Tennessee). Branch distribution:

• Vigo County, Indiana: 6 full-service branches (largest bank in the county)
• Indiana (outside Vigo): 15 additional full-service branches
• Illinois: 24 branches
• Kentucky: 16 branches
• Tennessee: 15 branches
• Georgia: 3 branches

Corporate and operations facilities are based in Terre Haute, including the main office, a 50,000-square-foot operations center, and additional office space in a four-story building. The Corporation is the parent holding company and the Bank is its subsidiary.

Employees

As of December 31, 2025, the Corporation and its subsidiaries employed 946 full-time equivalent (FTE) staff.

Business mix and lending practices

The loan portfolio emphasizes:

• Commercial loans (business financing, some secured by assets and guarantees)
• Commercial real estate loans, including construction financing
• Agriculture/production loans
• Residential real estate mortgages (1–4 family, including owner-occupied and construction loans)
• Portfolio loans (generally adjustable-rate and underwritten to Qualified Mortgage standards)
• Consumer lending (home equity, auto/secured loans, cash/CD secured, and unsecured loans)

Underwriting considers real estate value, debt-to-income ratios, and borrower credit. The Bank sells most long-term fixed-rate residential mortgages to secondary market purchasers. As of December 31, 2025, approximately 58.6% of the loan portfolio was commercial and commercial real estate.

Capital, liquidity, and regulation

Capital ratios as of December 31, 2025:

• Corporation:
  • CET1 to risk-weighted assets: 13.21%
  • Tier 1 to risk-weighted assets: 13.21%
  • Total capital to risk-weighted assets: 14.22%
  • Leverage ratio: 11.25%
• Bank:
  • CET1 to risk-weighted assets: 13.11%
  • Tier 1 to risk-weighted assets: 13.11%
  • Total capital to risk-weighted assets: 14.14%
  • Leverage ratio: 10.82%

First Financial operates under the Basel III framework. Deposits at the Bank are insured by the FDIC; the Bank’s 2025 FDIC insurance assessment totaled $2.9 million. The Corporation is a bank holding company regulated by the Federal Reserve; the Bank is regulated by the OCC. The Bank manages regulatory capital to support dividend and share repurchase capacity and future growth.

Revenue and earnings structure

The Corporation’s revenue is largely derived from dividends received from its subsidiary banks, which serve as the primary source of funds for dividends on common stock and for servicing debt.

Fundraising and equity

Authorized capital:

• Common stock: up to 40 million shares authorized; 11,880,759 shares outstanding as of December 31, 2025
• Preferred stock: up to 10 million shares authorized; none outstanding

The board has authority to issue remaining unissued shares and to set terms for any preferred stock issuance.

Assets and goodwill

Goodwill and other intangible assets totaled $114.5 million as of December 31, 2025.

Operations and risk management

The Corporation maintains risk management and compliance programs appropriate for a multi-state banking organization. The company identifies standard industry risks, including economic, regulatory, cyber, competition, liquidity, and acquisition-related risks, and incorporates those considerations into its oversight and planning.

Summary

First Financial Corporation is a Terre Haute–based financial holding company whose primary operating asset is First Financial Bank, N.A. The organization offers a full range of banking services across a multi-state footprint, maintains capital ratios in the mid-teens for CET1, and employed 946 FTE at year-end 2025. The Corporation relies primarily on dividends from its bank subsidiaries to fund shareholder distributions and debt service.