FIRST FINANCIAL CORP /IN/ (THFF) Company Report

First Financial Corporation (THFF) has entered into a definitive agreement to acquire CedarStone Financial, Inc. for an aggregate value of $25.0 million, with a cash consideration of $19.12 per share.
The transaction is expected to close in Q1 2026 and will result in First Financial having total combined consolidated assets of approximately $6.1 billion.
Anticipated financial impacts for First Financial include 6.6% EPS accretion in 2026 and 8.0% EPS accretion in 2027, with a -3.0% TBV dilution at close and a ~2.2 year TBV earnback.
CedarStone Financial, with approximately $358 million in assets and 3 bank branches in Tennessee, will expand First Financial's presence in the Nashville market.

Nov 6, 2025, 1:32 PM

First Financial Corporation reports Q3 2025 financial results

THFF

Earnings

Revenue Acceleration/Inflection

First Financial Corporation reported net income of $20.8 million, or $1.75 diluted net income per common share, for Q3 2025, a significant increase from $8.7 million, or $0.74 per share, in Q3 2024.
The company achieved a record net interest income of $54.6 million for Q3 2025, up from $47.2 million in Q3 2024, with the net interest margin rising to 4.25% from 3.78%.
Total loans outstanding grew by 6.79% year-over-year to $3.97 billion as of September 30, 2025, from $3.72 billion as of September 30, 2024.
The efficiency ratio improved to 56.63% for Q3 2025, compared to 64.43% for the same period in 2024.
Nonperforming loans increased to $19.3 million as of September 30, 2025, representing 0.49% of total loans and leases, compared to $14.1 million, or 0.38%, a year prior. However, the provision for credit losses decreased to $2.0 million in Q3 2025 from $9.4 million in Q3 2024.

Oct 28, 2025, 2:01 PM

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FIRST FINANCIAL CORP /IN/ (THFF)