Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |--------------------------------------------------------------------------------------------------------------|-----------------------------------------------------| ...

First Financial Corp. (THFF) reported $58.39 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 10.6%. EPS of $0.74 for the same period compares to $1.37 a year ago.The reported revenue represents a surprise of +0.76% over the Zacks Consensus Estimate of $57.95 million. With the consensus EPS estimate being $0.77, the EPS surprise was -3.90%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare ...

Group 1: Earnings Performance - First Financial Corp. reported quarterly earnings of $0.74 per share, missing the Zacks Consensus Estimate of $0.77 per share, and down from $1.37 per share a year ago, representing an earnings surprise of -3.90% [1] - The company posted revenues of $58.39 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.76%, compared to year-ago revenues of $52.78 million [1] - Over the last four quarters, First Financial Corp. has not been able to surpass consensus EPS estimates, and it has topped consensus revenue estimates just once [1] Group 2: Stock Performance and Outlook - First Financial Corp. shares have lost about 1.2% since the beginning of the year, while the S&P 500 has gained 22.7% [2] - The company's earnings outlook is crucial for investors, as empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [3] - The current consensus EPS estimate for the coming quarter is $1.20 on $58.2 million in revenues, and $3.85 on $215.15 million in revenues for the current fiscal year [4] Group 3: Industry Context - The Zacks Industry Rank for Banks - Midwest is currently in the top 26% of over 250 Zacks industries, indicating a favorable outlook for the industry [5] - Another bank in the same industry, First Merchants, is expected to report quarterly earnings of $0.91 per share, representing a year-over-year change of -3.2%, with revenues expected to be $160.55 million, down 0.4% from the year-ago quarter [5]

Financial Performance - Net income for Q3 2024 was $8.7 million, down from $16.3 million in Q3 2023, representing a decrease of 46.58%[1] - Net income for the three months ended September 30, 2024, was $8,741, a decrease of 23.5% from $11,369 in the previous quarter[19] - Net income for the three months ended September 30, 2024, was $8,741 thousand, down from $16,285 thousand in Q3 2023, a decrease of 46.3%[24] - Basic and diluted net income per common share for the three months ended September 30, 2024, was $0.74, down from $0.96 in the previous quarter[19] - Basic and diluted earnings per share decreased to $0.74 for Q3 2024, compared to $1.37 for Q3 2023, reflecting a decline of 46.0%[24] - Comprehensive income for the three months ended September 30, 2024, was $40,442 thousand, compared to a loss of $(18,503) thousand in Q3 2023, showing a significant recovery[24] Loan and Deposit Growth - Average total loans increased to $3.71 billion in Q3 2024, up $558 million or 17.74% from Q3 2023[2] - Total loans outstanding reached $3.72 billion as of September 30, 2024, an increase of $598 million or 19.17% year-over-year[3] - Average total deposits rose to $4.71 billion in Q3 2024, an increase of $705 million or 17.63% compared to Q3 2023[4] - Total deposits as of September 30, 2024, were $4.72 billion, up $676 million or 16.74% from the previous year[5] - Total deposits increased to $4,717,489 as of September 30, 2024, compared to $4,040,995 on September 30, 2023, representing a growth of 16.7%[19] Interest Income and Expenses - Net interest income for Q3 2024 was $47.2 million, reflecting a $6.0 million increase or 14.63% from the same period in 2023[9] - Net interest income for the three months ended September 30, 2024, was $47,170, up 20.5% from $39,294 in the previous quarter[19] - Net interest income for the three months ended September 30, 2024, was $47,170 thousand, compared to $41,150 thousand for the same period in 2023, reflecting an increase of 14.8%[24] - Non-interest income rose to $11,223 for the three months ended September 30, 2024, compared to $9,905 in the previous quarter, reflecting a growth of 13.3%[19] - Non-interest income totaled $11,223 thousand for the three months ended September 30, 2024, slightly down from $11,627 thousand in the same period last year[24] - Total non-interest expense rose to $38,564 thousand for the three months ended September 30, 2024, compared to $32,265 thousand in the same period last year, an increase of 19.5%[24] Credit Quality and Loss Provisions - The provision for credit losses was $9.4 million in Q3 2024, significantly higher than $1.2 million in Q3 2023[12] - Provision for credit losses increased to $9,400 for the three months ended September 30, 2024, compared to $2,966 in the previous quarter[19] - Provision for credit losses rose to $9,400 thousand in Q3 2024, significantly higher than $1,200 thousand in Q3 2023, indicating increased risk management measures[24] - Nonperforming loans increased to $14.1 million as of September 30, 2024, compared to $12.6 million a year earlier[11] - Nonperforming loans and other real estate owned totaled $14,303 as of September 30, 2024, compared to $12,647 on September 30, 2023, indicating a rise of 13.1%[21] - The allowance for credit losses was $46,169 as of September 30, 2024, compared to $39,034 on September 30, 2023, reflecting a 18.3% increase[19] - The allowance for credit losses increased to $(46,169) thousand as of September 30, 2024, compared to $(39,767) thousand at December 31, 2023, indicating a more conservative approach to credit risk[23] Capital and Asset Growth - Book value per share increased to $47.93 as of September 30, 2024, up $7.93 or 19.82% from the previous year[7] - Total assets as of September 30, 2024, reached $5,483,351, an increase of 12.1% from $4,784,806 on September 30, 2023[19] - Total assets increased to $5,483,351 thousand as of September 30, 2024, up from $4,851,146 thousand at December 31, 2023, representing a growth of 13.0%[23] - Total liabilities increased to $4,917,400 thousand as of September 30, 2024, compared to $4,323,170 thousand at December 31, 2023, marking a rise of 13.8%[23] - The Tier 1 capital ratio was 13.63% as of September 30, 2024, compared to 14.61% on September 30, 2023, showing a decrease in capital adequacy[20] Operational Efficiency - The efficiency ratio for Q3 2024 was 64.43%, compared to 59.57% in Q3 2023, indicating increased operational costs[17]

TERRE HAUTE, Ind., Oct. 22, 2024 (GLOBE NEWSWIRE) -- First Financial Corporation (NASDAQ:THFF) today announced results for the third quarter of 2024. During the quarter, the Corporation closed its acquisition of SimplyBank, Dayton, Tennessee. The quarter was impacted by purchase accounting adjustments and charges, which are reflected in the results. Net income was $8.7 million compared to $16.3 million reported for the same period of 2023;Diluted net income per common share of $0.74 compared to $1.37 for th ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |--------------------------------------------------------------------------------------------------------------|-----------------------------------------------------| | For ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis ...

First Financial Corp. (THFF) came out with quarterly earnings of $0.96 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $1.33 per share a year ago. These figures are adjusted for non-recurring items. First Financial Corp., which belongs to the Zacks Banks - Midwest industry, posted revenues of $49.2 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 5.30%. This compares to year-ago revenues of $52.64 million. The company has topped consensus re ...

Exhibit 99.1 News Release FIRST FINANCIAL CORPORATION One First Financial Plaza, Terre Haute, Indiana 47807 (812) 238-6000 First Financial Corporation Reports Second Quarter Results Terre Haute, Indiana, July 23, 2024 – First Financial Corporation (NASDAQ:THFF) today announced results for the second quarter of 2024. The Corporation further reported results for the six months ended June 30, 2024: 1 Non-GAAP financial measure that Management believes is useful for investors and management to understand pre- t ...