First Financial Corp
first-online.bankWhat Do They Do?
Provides commercial, mortgage and consumer loans, lease financing, trust services and deposit services to commercial and retail customers through its bank subsidiary.
10-K for FY2025, filed Mar 4, 2026
How Do They Make Money?
Deposit customers are charged for transactions and overdrafts when they occur, and for monthly account maintenance; trust customers pay mainly monthly or quarterly asset-management fees. Card fees arise with card transactions, while gains on property sales occur when the deed transfers.
10-K for FY2025, filed Mar 4, 2026Service charges on deposits and debit card fee income: The Corporation earns fees from its deposit customers for transaction-based, account…View ↗
Asset management fees: The Corporation earns asset management fees from its contracts with trust customers to manage assets for investment…View ↗
Interchange income: The Corporation earns interchange fees from debit and credit cardholder transactions conducted through the payment…View ↗
Gains/Losses on sales of OREO: The Corporation records a gain or loss from the sale of OREO when control of the property transfers to the…View ↗
$305.6M
-
10-K for FY2025, filed Mar 4, 2026
$305.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Service charges on deposits and debit card fee income
|
83% |
Service charges on deposits and debit card fee income, FY2025
$31.4M Sources
|
|
|
Asset management fees
|
15% |
Asset management fees, FY2025
$5.8M Sources
|
|
|
Interchange income
Usage-based
|
2.0% |
Interchange income, FY2025
$755K Sources
|
Usage-based |
|
Other
Sold outright
|
−0.3% |
Other, FY2025
−$113K Sources
|
Sold outright |
Who Are Their Customers?
Commercial and retail customers receive lending, deposit and trust services through the bank; the bank operates full-service branches and loan production offices.
10-K for FY2025, filed Mar 4, 2026The Corporation, which is headquartered in Terre Haute, Indiana, offers a wide variety of financial services including commercial, mortgage…View ↗
Segment Reporting: The Corporation operates as a single segment entity for financial reporting purposes and adopted ASU 2023-07, Segment…View ↗
First Financial Bank, N.A. (the “Bank”) is the largest bank in Vigo County, Ind. It operates six full-service banking branches within the…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 26 cents of every revenue dollar as net income in FY2025 and turned 28 cents into free cash flow.
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
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Sep 15, 2026
CFO Rodger McHargue to retire; Paul Nungester appointed successor
Sources
8-K, filed Sep 17, 2026
On September 15, 2026, Secretary/Treasurer and Chief Financial Officer, Rodger A. McHargue, provided notice to First Financial Corporation…View ↗
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Aug 27, 2026
Agreed to merge with First Illinois Corporation
First Illinois is expected to merge into First Financial, subject to shareholder and regulatory approvals.
Sources
8-K, filed Aug 27, 2026
On August 26, 2026, First Financial Corporation, Terre Haute, Indiana (“FFC” or the “Company”), entered into an Agreement and Plan of…View ↗
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Jul 28, 2026
Completed acquisition of CedarStone Financial
Sources
8-K, filed Jul 28, 2026
On March 1, 2026, First Financial Corporation completed the acquisition of CedarStone Financial, Inc. As a result of the acquisition, loans…View ↗
Growing. Revenue grew 2.0x in 4 years, from $152.2M in FY2021 to $305.6M in FY2025, about 19% a year.
Geographic reach
The older report placed business activity in Indiana, Illinois, Kentucky and Tennessee; the latest also lists northern Georgia.
10-K for FY2022, filed Mar 8, 2023 10-K for FY2025, filed Mar 4, 2026The Corporation’s business activities are centered in west-central Indiana, east-central Illinois, western Kentucky, and central Tennessee.…View ↗
The Corporation’s business activities are centered in west-central Indiana, east-central Illinois, western Kentucky, eastern and central…View ↗
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