secwatch.observer — SEC 8-K summary
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Issuer:     FIRST FINANCIAL CORP /IN/ (THFF)
CIK:        0000714562
Form:       8-K
Filed at:   2024-01-30T23:59:59+00:00
Accession:  0000714562-24-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Financial Q4 net income falls 25% to $12.4M; signs SimplyBank deal
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- Q4 diluted EPS $1.06 vs $1.37 YoY; full-year EPS $5.08 vs $5.82.
- Net interest margin narrowed to 3.63% from 3.81%; NIM down 17 bps.
- Nonperforming loans surged to $24.6M (0.78% of loans) from $9.6M (0.31%) due to a downgraded commercial relationship.
- Definitive agreement signed to acquire SimplyBank, expanding into Tennessee MSAs.
- Quarterly dividend maintained at $0.45 per share; no share repurchases in Q4.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714562/000071456224000003/0000714562-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714562/000071456224000003/tmb-20240130x8k.htm
  HTML page:      https://secwatch.observer/filing/0000714562-24-000003

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