secwatch.observer — SEC 8-K summary
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Issuer:     FIRST FINANCIAL CORP /IN/ (THFF)
CIK:        0000714562
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0000714562-23-000014
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Financial Q1 net income $16.0M, EPS $1.33; NIM expands 80 bps to 3.96%
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- Net income of $16.0M vs $20.9M in Q1 2022 (which included a $4.0M legal settlement and pandemic reserve releases).
- Pre-tax, pre-provision net income rose to $21.4M from $19.7M; net interest income up 17.25% to $44.3M.
- Average loans grew 10.5% YoY to $3.07B; total deposits fell 5.2% to $4.17B.
- Credit loss provision was $1.8M vs negative $6.6M a year ago; nonperforming loans increased to $12.1M (0.39% of loans).
- Shareholder equity decreased to $505.5M due to $18M in share repurchases and dividends; tangible equity ratio 8.63%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714562/000071456223000014/0000714562-23-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714562/000071456223000014/tmb-20230425x8k.htm
  HTML page:      https://secwatch.observer/filing/0000714562-23-000014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer