FIRST FINANCIAL CORP /IN/ (THFF) Form 10-Q — Aug 6, 2026

$THFFForm 10-QFiled Aug 6, 2026, 10:26 AM ET0000714562-26-000053Original filing

First Financial Corporation (NASDAQ: THFF) reported Q2 2026 net income of $22.7 million, up from $18.6 million a year earlier, with basic and diluted EPS rising to $1.91 from $1.57. Net interest income grew to $61.2 million and the net interest margin expanded to 4.33% from 4.15%, with return on average assets of 1.48% and return on average equity of 13.71%. The quarter reflects the March 1, 2026 acquisition of CedarStone Financial, Inc., completed for approximately $25.0 million ($19.12 per share in cash), which added about $292 million in loans and $313 million in deposits and produced a small $33 thousand bargain purchase gain.

Key figures

Eps: 1.91 Q2 2026 (vs 1.57 Q2 2025); 3.58 H1 2026 (vs 3.12 H1 2025)
Revenue: Net interest income $61.2M Q2 2026 / $118.2M H1 2026; non-interest income $10.6M Q2 / $21.9M H1
Net Income: 22.7M Q2 2026 (vs 18.6M Q2 2025); 42.5M H1 2026 (vs 37.0M H1 2025)
Shares Outstanding: 11891896
Roa Q2: 1.48% (vs 1.34% Q2 2025)
Roe Q2: 13.71% (vs 12.90% Q2 2025)
Nco Ratio: 0.20% of average loans and leases
Liquidity: Cash and available-for-sale securities ~20.5% of assets at 6/30/26
Cedar Stone Deal: $25.0M aggregate ($19.12/share cash), closed March 1, 2026
Simply Bank Deal: $73.4M aggregate ($718.38/share cash), closed July 1, 2024; goodwill $11.2M
Net Charge Offs Q2: $2.7M (vs $1.7M Q2 2025); H1 $4.2M (vs $3.5M)
Acl To Npl Coverage: 188.2% (vs 167.9% at 12/31/25)
Buyback Remaining: 518860
Total Liabilities: $5,502,524 thousand at 6/30/26
Dividend Per Share Q2: $0.56 (vs $0.51 Q2 2025)
Effective Tax Rate H1: 19.36% (vs 20.62% H1 2025)
Non Performing Loans: $27.1M at 6/30/26 (vs $28.6M at 12/31/25; up 176.3% from $9.8M at 6/30/25)
Shareholders Equity: $675,785 thousand at 6/30/26
Net Interest Income H1: $118.2M (vs $104.6M H1 2025, +$13.5M)
Net Interest Income Q2: $61.2M (vs $52.7M Q2 2025, +$8.5M)
Net Interest Margin H1: 4.28% (vs 4.13% H1 2025)
Net Interest Margin Q2: 4.33% (vs 4.15% Q2 2025)
Non Interest Expense Q2: $42.5M (vs $38.3M Q2 2025); H1 $83.4M (vs $75.0M)
Cedar Stone Loans Acquired: $292M book value ($286.1M fair value)
Non Performing Asset Ratio: 0.50% of total assets
Allowance For Credit Losses: $50.9M at 6/30/26 (vs $48.0M at 12/31/25)
Cedar Stone Acquired Loan ACL: $3.3M
Cedar Stone Deposits Acquired: $313M
Provision For Credit Losses Q2: $1.3M (vs $2.0M Q2 2025); H1 $3.9M (vs $3.9M)
Cedar Stone Bargain Purchase Gain: $33K
Cedar Stone Acquisition Costs H1 2026: $1.5M

Price after filing

1 day: -1.2%7 days: -0.6%30 days: -3.8%

Close on the filing date to close N calendar days later (from $82.46). Historical, not a forecast.

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