First Financial Corporation (THFF) 10-Year Financial Performance & Capital Metrics

THFF • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingMidwest Community Banks

AboutFirst Financial Corporation, through its subsidiaries, provides various financial services. It offers non-interest-bearing demand, interest-bearing demand, savings, time, and other time deposits. The company also provides commercial loans primarily to expand a business or finance asset purchases; residential real estate and residential real estate construction loans; and home equity loans and lines, secured loans, and cash/CD secured and unsecured loans. In addition, it offers lease financing, trust account, depositor, and insurance services. The company operates 78 branches in west-central Indiana, east-central Illinois, western Kentucky, and middle and western Tennessee. First Financial Corporation was founded in 1834 and is headquartered in Terre Haute, Indiana.Show more

Net Interest Income $175M +4.6%
Total Revenue $308M +13.4%
Net Income $47M -22.1%
Return on Equity 8.78% -27.4%
Net Interest Margin 3.15% -8.7%
Efficiency Ratio 46.97% -2.2%
ROA 0.91% -26.4%
Equity / Assets 9.87% -9.3%
Book Value per Share 46.48 +5.1%
Tangible BV/Share 36.19 -0.8%
Debt/Equity 0.39 +17.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 47.0% efficiency ratio
✓Healthy dividend yield of 2.8%
✓Trading near 52-week high
✓Trading at only 1.4x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.15%

5Y10.39%

3Y16.54%

TTM-

Profit (Net Income) CAGR

10Y3.42%

5Y-0.66%

3Y-3.73%

TTM70.28%

EPS CAGR

10Y4.6%

5Y1.03%

3Y-0.17%

TTM69.38%

ROCE

10Y Avg10.98%

5Y Avg10.76%

3Y Avg11.5%

Latest8.48%

Peer Comparison

Midwest Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TFSLTFS Financial Corporation	3.97B	14.13	44.16	4.37%	11.49%	4.41%	1.15%	2.57
ASBAssociated Banc-Corp	4.43B	26.70	37.08	4.42%	5.85%	3.62%	12.08%	0.69
ASBAAssociated Banc-Corp	4.11B	24.78	30.98	-6.56%	12.92%	3.77%	13.02%	0.17
BANFBancFirst Corporation	3.81B	114.30	17.75	12.28%	23.81%	13.33%	5.89%	0.05
SYBTStock Yards Bancorp, Inc.	2.03B	68.83	17.69	15.84%	22.86%	12.99%	6.56%	0.53
PRKPark National Corporation	2.63B	163.76	17.57	14.4%	23.46%	13.22%	6.44%	0.24
NICNicolet Bankshares, Inc.	1.97B	133.08	16.53	24.6%	23.88%	11.4%	5.95%	0.14
LKFNLakeland Financial Corporation	1.52B	59.47	16.38	9.38%	21.74%	13.06%	6.18%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	104.51M	104.97M	107.86M	116.58M	131.65M	146.35M	143.4M	165.04M	167.26M	174.99M
NII Growth %	-0.03%	0%	0.03%	0.08%	0.13%	0.11%	-0.02%	0.15%	0.01%	0.05%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	108.68M	109.38M	114.19M	126.22M	149.12M	160.49M	152.2M	183.3M	228.4M	264.74M
Interest Expense	4.17M	4.41M	6.34M	9.64M	17.47M	14.14M	8.8M	18.26M	61.13M	89.76M
Loan Loss Provision	4.7M	3.3M	5.29M	5.77M	4.7M	10.53M	2.47M	-2.02M	7.29M	16.17M
Non-Interest Income+	39.18M	46.93M	35.94M	38.21M	38.45M	42.48M	42.08M	46.72M	42.7M	42.77M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	147.85M	156.31M	150.13M	164.43M	187.57M	202.96M	194.28M	230.02M	271.1M	307.51M
Revenue Growth %	-0.04%	0.06%	-0.04%	0.1%	0.14%	0.08%	-0.04%	0.18%	0.18%	0.13%
Non-Interest Expense	98.4M	90.31M	88.75M	91.29M	104.41M	112.76M	117.41M	126.02M	130.18M	144.44M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	40.59M	58.3M	49.75M	57.73M	61M	65.54M	65.61M	87.76M	72.49M	57.15M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.15%	0.44%	-0.15%	0.16%	0.06%	0.07%	0%	0.34%	-0.17%	-0.21%
Pretax Income+	40.59M	58.3M	49.75M	57.73M	61M	65.54M	65.61M	87.76M	72.49M	57.15M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	10.39M	19.88M	20.62M	11.14M	12.13M	11.69M	12.63M	16.65M	11.82M	9.88M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	30.2M	38.41M	29.13M	46.58M	48.87M	53.84M	52.99M	71.11M	60.67M	47.27M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.11%	0.27%	-0.24%	0.6%	0.05%	0.1%	-0.02%	0.34%	-0.15%	-0.22%
Net Income (Continuing)	30.2M	38.41M	29.13M	46.58M	48.87M	53.84M	52.99M	71.11M	60.67M	47.27M
EPS (Diluted)+	2.35	3.12	2.38	3.80	3.80	3.93	4.02	5.82	5.08	4.00
EPS Growth %	-0.08%	0.33%	-0.24%	0.6%	0%	0.03%	0.02%	0.45%	-0.13%	-0.21%
EPS (Basic)	2.35	3.12	2.38	3.80	3.80	3.93	4.02	5.82	5.08	4.00
Diluted Shares Outstanding	12.84M	12.32M	12.22M	12.26M	12.87M	13.72M	13.19M	12.21M	11.94M	11.81M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	88.69M	75.01M	74.11M	74.39M	127.43M	657.47M	688.03M	222.52M	76.76M	93.53M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	2.63B	2.67B	2.7B	2.72B	3.56B	3.59B	4.13B	4.36B	4.39B	5.03B
Investments Growth %	-0.01%	0.01%	0.01%	0.01%	0.31%	0.01%	0.15%	0.06%	0.01%	0.15%
Long-Term Investments	1.74B	1.82B	1.89B	1.93B	2.64B	2.57B	2.77B	3.03B	3.13B	4.3B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	39.49M	34.35M	34.35M	34.35M	78.59M	78.59M	86.14M	86.98M	86.98M	100.03M
Intangible Assets	3.18M	2.11M	1.63M	1.2M	12.08M	10.57M	8.02M	6.71M	5.59M	21.55M
PP&E (Net)	50.53M	49.24M	48.27M	46.55M	62.58M	62.06M	69.52M	66.15M	67.29M	89.23M
Other Assets	151.01M	141.37M	127.61M	119.79M	160.89M	147.9M	179.34M	227.49M	202.46M	200.48M
Total Current Assets	991.51M	941.05M	901.95M	873.27M	1.07B	1.7B	2.06B	1.57B	1.36B	847.42M
Total Non-Current Assets	1.99B	2.05B	2.1B	2.14B	2.95B	2.87B	3.11B	3.41B	3.49B	4.71B
Total Assets+	2.98B	2.99B	3B	3.01B	4.02B	4.56B	5.18B	4.99B	4.85B	5.56B
Asset Growth %	-0.01%	0%	0%	0%	0.34%	0.13%	0.13%	-0.04%	-0.03%	0.15%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	46.51M	162.11M	115.37M	69.66M	111.09M	127.72M	115.53M	80.46M	175.8M	215.18M
Net Debt	-42.19M	87.1M	41.27M	-4.73M	-16.33M	-529.75M	-572.5M	-142.05M	99.04M	121.65M
Long-Term Debt	12.68M	132K	0	0	30.97M	5.86M	15.94M	9.59M	108.58M	28.12M
Short-Term Debt	33.83M	161.98M	115.37M	69.66M	80.12M	116.06M	93.37M	70.88M	67.22M	187.06M
Other Liabilities	80.39M	-16.5M	13.07M	59.63M	79.19M	79.86M	67.42M	64.65M	57.3M	77.22M
Total Current Liabilities	2.48B	2.59B	2.57B	2.51B	3.36B	3.87B	4.5B	4.44B	4.16B	4.91B
Total Non-Current Liabilities	93.07M	-16.37M	13.07M	59.63M	110.17M	91.52M	89.58M	74.24M	165.88M	105.34M
Total Liabilities	2.57B	2.57B	2.59B	2.57B	3.47B	3.96B	4.59B	4.51B	4.32B	5.01B
Total Equity+	410.32M	414.39M	413.57M	442.7M	557.61M	596.99M	582.58M	475.29M	527.98M	549.04M
Equity Growth %	0.04%	0.01%	-0%	0.07%	0.26%	0.07%	-0.02%	-0.18%	0.11%	0.04%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.08%	0.09%	0.07%	0.11%	0.1%	0.09%	0.09%	0.13%	0.12%	0.09%
Book Value per Share	31.97	33.64	33.83	36.12	43.34	43.53	44.17	38.92	44.23	46.48
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	1.82M	1.82M	1.82M	1.82M	2M	2.01M	2.01M	2.01M	2.01M	2.02M
Additional Paid-in Capital	73.4M	74.53M	75.62M	76.77M	139.69M	140.82M	141.98M	143.19M	144.15M	145.93M
Retained Earnings	395.63M	421.83M	420.27M	456.72M	492.06M	521.1M	559.14M	614.83M	663.73M	687.37M
Accumulated OCI	-9.4M	-14.16M	-14.7M	-23.45M	-7.5M	9.76M	-2.43M	-139.97M	-127.09M	-132.28M
Treasury Stock	-51.13M	-69.61M	-69.45M	-69.16M	-68.64M	-76.7M	-118.13M	-144.76M	-154.83M	-153.99M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	41.26M	41.19M	50.13M	57.45M	49.9M	77.42M	55.07M	78.79M	86.09M	60.37M
Operating CF Growth %	-0.29%	-0%	0.22%	0.15%	-0.13%	0.55%	-0.29%	0.43%	0.09%	-0.3%
Net Income	30.2M	38.41M	29.13M	46.58M	48.87M	53.84M	52.99M	71.11M	60.67M	47.27M
Depreciation & Amortization	5.49M	4.97M	4.43M	4.16M	4.82M	6.1M	6.15M	6.11M	6.53M	9.95M
Deferred Taxes	-924K	-1.51M	-4.24M	-2.43M	-2.84M	-3.77M	-1.57M	-3.15M	-472K	3.28M
Other Non-Cash Items	4.66M	-2.14M	19.65M	8.35M	-2.1M	17.39M	-5.7M	6.78M	20.54M	-1.08M
Working Capital Changes	-140K	-578K	-602K	-1.06M	-903K	1.57M	982K	-4.34M	-3.59M	-2.06M
Cash from Investing+	19.66M	-44.05M	-26.67M	-34.32M	-32.87M	-16.25M	-312.16M	-433.69M	-22.1M	-66.12M
Purchase of Investments	-149.18M	-150.89M	-111.14M	-124.33M	-129.47M	-366M	-589.8M	-345.2M	-30.46M	-40.1M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	16.89M	0	0	-32.83M	0	-23.09M	0	0	28.15M
Other Investing	18.19M	-75.51M	-64.11M	-51.13M	-54.49M	64.87M	32.99M	-266.66M	-96.64M	-211.76M
Cash from Financing+	-50.33M	-10.82M	-24.37M	-22.84M	36M	468.87M	287.65M	-110.61M	-209.75M	22.52M
Dividends Paid	-12.63M	-12.36M	-30.56M	-12.5M	-12.65M	-14.27M	-14.18M	-14.46M	-15.38M	-21.25M
Share Repurchases	-8.7M	-19.4M	-503K	-391K	-315K	-9.22M	-42.47M	-27.7M	-11.51M	-376K
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	-1000K	1000K	-1000K	1000K	-1000K	-1000K	1000K	1000K
Other Financing	-14.9M	-13.91M	30.12M	-21.93M	104.11M	481.73M	367.99M	-39.55M	-278.2M	6.56M
Net Change in Cash+	10.59M	-13.68M	-905K	281K	53.04M	530.04M	30.56M	-465.51M	-145.76M	16.77M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	78.1M	88.69M	75.01M	74.11M	74.39M	127.43M	657.47M	688.03M	222.52M	76.76M
Cash at End	88.69M	75.01M	74.11M	74.39M	127.43M	657.47M	688.03M	222.52M	76.76M	93.53M
Interest Paid	4.24M	4.43M	6.34M	9.41M	16.34M	14.85M	9.14M	18.46M	59.03M	88.55M
Income Taxes Paid	12.87M	18.74M	11.16M	7.18M	9.6M	7.55M	15.03M	13.53M	11.35M	10.48M
Free Cash Flow+	37.76M	38.14M	47.16M	55.44M	48.8M	73.52M	51.23M	77.36M	79.55M	54.26M
FCF Growth %	-0.28%	0.01%	0.24%	0.18%	-0.12%	0.51%	-0.3%	0.51%	0.03%	-0.32%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	7.51%	9.32%	7.04%	10.88%	9.77%	9.33%	8.98%	13.44%	12.09%	8.78%
Return on Assets (ROA)	1.01%	1.29%	0.97%	1.55%	1.39%	1.25%	1.09%	1.4%	1.23%	0.91%
Net Interest Margin	3.51%	3.51%	3.59%	3.87%	3.27%	3.21%	2.77%	3.31%	3.45%	3.15%
Efficiency Ratio	66.55%	57.77%	59.11%	55.52%	55.66%	55.56%	60.43%	54.79%	48.02%	46.97%
Equity / Assets	13.77%	13.87%	13.78%	14.71%	13.86%	13.09%	11.26%	9.53%	10.88%	9.87%
Book Value / Share	31.97	33.64	33.83	36.12	43.34	43.53	44.17	38.92	44.23	46.48
NII Growth	-3.08%	0.45%	2.75%	8.09%	12.93%	11.16%	-2.01%	15.09%	1.35%	4.62%
Dividend Payout	41.83%	32.17%	104.89%	26.83%	25.88%	26.51%	26.76%	20.33%	25.35%	44.95%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Asset management fees	-	-	-	-	5.16M	5.16M	5.47M
Asset management fees Growth	-	-	-	-	-	0.00%	6.07%
Interchange income	-	-	-	-	559K	676K	655K
Interchange income Growth	-	-	-	-	-	20.93%	-3.11%
Financial Service, Other	-	-	-	-	-	-	100K
Financial Service, Other Growth	-	-	-	-	-	-	-
Other	-	-	-	-	-	-63K	-
Other Growth	-	-	-	-	-	-	-
Other,	-	-	-	-	60K	-	-
Other, Growth	-	-	-	-	-	-	-
Servicing Fees	1.3M	1.3M	1.3M	1.3M	-	-	-
Servicing Fees Growth	-	0.00%	0.00%	0.00%	-	-	-

Frequently Asked Questions

Valuation & Price

First Financial Corporation (THFF) has a price-to-earnings (P/E) ratio of 15.8x. This is roughly in line with market averages.

Growth & Financials

First Financial Corporation (THFF) grew revenue by 13.4% over the past year. This is steady growth.

Yes, First Financial Corporation (THFF) is profitable, generating $74.0M in net income for fiscal year 2024 (15.4% net margin).

Dividend & Returns

Yes, First Financial Corporation (THFF) pays a dividend with a yield of 2.85%. This makes it attractive for income-focused investors.

First Financial Corporation (THFF) has a return on equity (ROE) of 8.8%. This is below average, suggesting room for improvement.

Industry Metrics

First Financial Corporation (THFF) has a net interest margin (NIM) of 3.1%. This indicates healthy earnings from lending activities.

First Financial Corporation (THFF) has an efficiency ratio of 47.0%. This is excellent, indicating strong cost control.

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