Group 1: Company Overview - First Financial Corp. (THFF) is based in Terre Haute and operates in the Finance sector, with a year-to-date share price change of 12.58% [3] - The company currently pays a dividend of $0.51 per share, resulting in a dividend yield of 3.92%, which is significantly higher than the Banks - Midwest industry's yield of 2.77% and the S&P 500's yield of 1.49% [3] Group 2: Dividend Performance - The current annualized dividend of First Financial Corp. is $2.04, reflecting a 51.1% increase from the previous year [4] - Over the past five years, the company has increased its dividend three times on a year-over-year basis, averaging an annual increase of 13.25% [4] - The company's payout ratio stands at 49%, indicating that it distributes 49% of its trailing 12-month earnings per share as dividends [4] Group 3: Earnings Growth Expectations - For the fiscal year, First Financial Corp. anticipates solid earnings growth, with the Zacks Consensus Estimate for 2025 projected at $5.41 per share, representing a year-over-year growth rate of 35.25% [5] Group 4: Investment Appeal - First Financial Corp. is viewed as an attractive dividend play and a compelling investment opportunity, currently holding a Zacks Rank of 1 (Strong Buy) [7]

Core Insights - First Financial Corp. reported revenue of $61.82 million for the quarter ended December 2024, marking a year-over-year increase of 21.6% and exceeding the Zacks Consensus Estimate by 6.76% [1] - The company's EPS for the same period was $1.37, up from $1.06 a year ago, with an EPS surprise of 6.20% compared to the consensus estimate of $1.29 [1] Financial Performance Metrics - Net Interest Margin was reported at 3.9%, slightly above the two-analyst average estimate of 3.8% [4] - The Efficiency Ratio stood at 63%, compared to the two-analyst average estimate of 61.9% [4] - Total Non-Interest Income was $12.21 million, exceeding the two-analyst average estimate of $10.80 million [4] - Gain on sale of mortgage loans was $0.27 million, slightly below the average estimate of $0.30 million based on two analysts [4] Stock Performance - Shares of First Financial Corp. have returned +6.9% over the past month, outperforming the Zacks S&P 500 composite's +1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Viewpoint - First Financial Corp. reported quarterly earnings of $1.37 per share, exceeding the Zacks Consensus Estimate of $1.29 per share, and showing an increase from $1.06 per share a year ago, indicating a positive earnings surprise of 6.20% [1] Financial Performance - The company posted revenues of $61.82 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 6.76%, compared to $50.84 million in the same quarter last year [2] - Over the last four quarters, First Financial Corp. has exceeded consensus revenue estimates two times [2] Stock Performance - First Financial Corp. shares have increased approximately 4% since the beginning of the year, outperforming the S&P 500's gain of 1.9% [3] Future Outlook - The company's earnings outlook will be crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the next quarter is $1.18 on revenues of $56.7 million, and for the current fiscal year, it is $5.19 on revenues of $235 million [7] Industry Context - The Banks - Midwest industry, to which First Financial Corp. belongs, is currently ranked in the top 5% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]

Loan Performance - Average total loans for Q4 2024 were $3.79 billion, an increase of $657 million or 20.98% year-over-year[5] - Total loans outstanding as of December 31, 2024, were $3.84 billion, up $669 million or 21.13% from the previous year[6] - Nonperforming loans decreased to $13.3 million, down from $24.6 million year-over-year, resulting in a nonperforming loan ratio of 0.35%[15] - Nonperforming loans to loans and leases decreased to 0.35% as of December 31, 2024, down from 0.78% a year earlier[28] - Total nonperforming assets decreased to $16,719 thousand as of December 31, 2024, from $27,665 thousand a year earlier[29] Financial Performance - Net income for Q4 2024 was $16.2 million, compared to $12.4 million for the same period in 2023, representing a 30.65% increase[7] - Net income for the year ended December 31, 2024, was $47,275 thousand, compared to $60,672 thousand in 2023[32] - Basic and diluted earnings per share for the year ended December 31, 2024, were $4.00, down from $5.08 in 2023[32] Deposits and Assets - Average total deposits for Q4 2024 were $4.76 billion, an increase of $706 million or 17.44% year-over-year[8] - Total assets reached $5,560,348 thousand as of December 31, 2024, an increase from $4,851,146 thousand in 2023[31] Income and Expenses - Net interest income for Q4 2024 reached a record $49.6 million, an increase of $10.0 million or 25.29% from Q4 2023[13] - Total non-interest expense increased to $144,438 thousand for the year ended December 31, 2024, compared to $130,176 thousand in 2023[32] Efficiency and Ratios - The efficiency ratio improved to 62.98% for Q4 2024, compared to 65.62% for the same period in 2023[21] - Return on average assets increased to 1.18% for the three months ended December 31, 2024, compared to 0.64% in the previous quarter[28] - Net interest margin improved to 3.94% for the three months ended December 31, 2024, up from 3.78% in the previous quarter[28] - Average equity to average assets increased to 10.09% for the three months ended December 31, 2024, compared to 9.97% in the previous quarter[28] Shareholder Equity - Shareholders' equity increased to $549.0 million as of December 31, 2024, compared to $528.0 million a year earlier[10] - Book value per share rose to $46.36 as of December 31, 2024, an increase of $1.60 or 3.57% from the previous year[11] Credit Loss Provision - The provision for credit losses for Q4 2024 was $2.0 million, down from $2.5 million in Q4 2023[16] - Provision for credit losses increased to $16,166 thousand for the year ended December 31, 2024, from $7,295 thousand in 2023[32]

Core Viewpoint - First Financial Corporation reported strong financial results for the fourth quarter and the year ended December 31, 2024, highlighting significant growth in loans and deposits, record net interest income, and improved net interest margin. Financial Performance - Net income for Q4 2024 was $16.2 million, up from $12.4 million in Q4 2023, with diluted net income per share increasing to $1.37 from $1.06 [6] - For the full year 2024, net income was $47.3 million, down from $60.7 million in 2023, with diluted net income per share at $4.00 compared to $5.08 [6] Loan and Deposit Growth - Average total loans for Q4 2024 were $3.79 billion, a 20.98% increase from $3.13 billion in Q4 2023, primarily due to the acquisition of SimplyBank [3] - Total loans outstanding as of December 31, 2024, were $3.84 billion, up 21.13% from $3.17 billion a year earlier [4] - Average total deposits for Q4 2024 were $4.76 billion, a 17.44% increase from $4.05 billion in Q4 2023 [7] - Total deposits as of December 31, 2024, were $4.72 billion, a 15.37% increase from $4.09 billion a year earlier [8] Net Interest Income and Margin - Record net interest income for Q4 2024 was $49.6 million, an increase of 25.29% from $39.6 million in Q4 2023 [12] - The net interest margin for Q4 2024 was 3.94%, up from 3.63% in Q4 2023 [13] Asset Quality - Nonperforming loans decreased to $13.3 million as of December 31, 2024, from $24.6 million a year earlier, with a nonperforming loans to total loans ratio of 0.35% compared to 0.78% [14] - The allowance for credit losses was $46.7 million as of December 31, 2024, compared to $39.8 million a year earlier, representing 1.22% of total loans [18] Shareholder Equity and Dividends - Shareholders' equity at December 31, 2024, was $549.0 million, up from $528.0 million a year earlier [9] - The book value per share increased to $46.36 as of December 31, 2024, from $44.76 a year earlier [10] - The corporation declared a quarterly dividend of $0.51 per share, paid on January 15, 2025 [9]

Group 1 - The stock of First Financial Corporation (THFF) is experiencing significant attention due to high implied volatility in the options market, particularly for the Dec 20, 2024 $60.00 Call option [1] - Implied volatility indicates the market's expectation of future price movement, suggesting that investors anticipate a significant change in the stock's price, potentially due to an upcoming event [2] - First Financial Corporation Indiana holds a Zacks Rank 3 (Hold) in the Banks-Midwest industry, which is in the top 19% of the Zacks Industry Rank, with recent analyst estimates for the current quarter increasing from $1.20 to $1.29 per share [3] Group 2 - The high implied volatility for First Financial Corporation may indicate a developing trading opportunity, as options traders often seek to sell premium on such options to capture decay, hoping the stock does not move as much as expected at expiration [4]

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]