First Financial Corporation (THFF) SEC Filings & Earnings Calls

Non-performing loan increase

“Nonperforming loans increased 176.3% compared to $9.8 million as of June 30, 2025.” · word for word

Net charge-off increase

“Net charge-offs for the second quarter of 2026 were $2.7 million compared to net charge-offs of $1.7 million for the same period of 2025.” · word for word

Nonperforming loans increased significantly YoY

“Nonperforming loans $27.1M vs $9.8M YoY; ratio 0.61% vs 0.25%”

Net charge-offs increased YoY

“Net charge-offs $2.7M vs $1.7M in Q2 2025”

No material risk; standard executive retention.

“No disagreement or controversy noted; agreement includes standard non-compete and confidentiality.”

Non-performing loan surge

“Nonperforming loans increased 179.9% compared to $10.2 million as of March 31, 2025.” · word for word

Interest rate sensitivity

“Given a 100 basis point increase in rates, net interest income would decrease 1.75% over the next 12 months.” · word for word

Nonperforming loans increased significantly YoY from $10.2M to $28.5M, though ratio remains low at 0.64%.

“Nonperforming loans as of March 31, 2026, were $28.5 million versus $10.2 million as of March 31, 2025. Ratio 0.64% vs 0.26%.” · word for word

Provision for credit losses increased 30% YoY to $2.6M, indicating higher expected credit losses.

“Provision for credit losses was $2.6 million compared to $2.0 million for the first quarter 2025.” · word for word

Interest rate risk

“Presentation discusses risks of changes in interest rates on deposits, loan demand, and other interest-sensitive assets.”

Concentration in commercial real estate and construction lending

“Organic growth was primarily driven by increases in Commercial Construction and Development, Commercial Real Estate, and Consumer Auto loans.” · word for word

Key person risk due to family relationships in management

“Norman L. Lowery (Chairman, and former President and Chief Executive Officer of the Corporation and the Bank) is the father of Norman D. Lowery (Director and President and Chief Executive Officer of the Corporation and the Bank).” · word for word

Interest rate risk from Fed rate cuts

“In 2025, the Federal Reserve cut the target of the fed funds rate by 75 basis points.” · word for word

Geographic concentration in Midwest/South markets

“The Corporation’s operations are currently concentrated in west central Indiana, east central Illinois, western Kentucky, eastern, middle and western Tennessee, northern Georgia.” · word for word

Credit risk from commercial real estate exposure

“Commercial real estate loans may be adversely affected by factors in the local market, the regional economy, or industry specific factors.” · word for word

Integration risk; modest deal size relative to acquirer

“Acquisition of CedarStone Financial, Inc.” · word for word

Deposit base declined YoY, though stabilized sequentially; non-interest bearing deposits increased but time deposits decreased.

“Average total deposits for the quarter ended December 31, 2025, were $4.64 billion versus $4.76 billion as of December 31, 2024, a decrease of $116 million, or 2.44%.” · word for word

Nonperforming loans increased slightly YoY but remain low; provision for credit losses increased modestly.

“Nonperforming loans as of December 31, 2025, were $14.8 million versus $13.3 million as of December 31, 2024.” · word for word

Regulatory approval risk.

“Transaction subject to regulatory and CedarStone stockholder approvals.”

Integration risk.

“Merger integration of two banks could pose operational challenges.”

Non-performing loan increase

“Nonperforming loans increased 36.3% compared to $14.1 million as of September 30, 2024.” · word for word

Deposit decline

“Deposits decreased 2.2% to $4.6 billion at September 30, 2025 compared to December 31, 2024.” · word for word

Nonperforming loans increased to $19.3M from $14.1M YoY; NPL ratio 0.49% vs 0.38%.

“Nonperforming loans as of September 30, 2025, were $19.3 million versus $14.1 million as of September 30, 2024” · word for word