secwatch.observer — SEC 8-K summary
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Issuer:     FIRST FINANCIAL CORP /IN/ (THFF)
CIK:        0000714562
Form:       8-K
Filed at:   2024-07-23T23:59:59+00:00
Accession:  0000714562-24-000040
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Financial Q2 net income $11.4M ($0.96 EPS) vs $16.0M ($1.33) a year ago
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- Net income $11.4M, diluted EPS $0.96, down from $16.0M ($1.33) in Q2 2023; pre-tax pre-provision income $16.2M vs $21.2M.
- Net interest margin 3.57% (expanded 4 bp from linked quarter 3.53%), net interest income $39.3M vs $42.2M a year ago.
- Credit loss provision $3.0M (vs $1.8M); net charge-offs $4.7M (vs $1.5M) tied to one credit; NPAs to loans 0.78% vs 0.59% linked quarter.
- Total loans $3.20B (+2.21% YoY); deposits $4.13B (+1.70% YoY); book value per share $44.92 (+8.33% YoY); tangible book $37.12.
- Acquisition of SimplyBank closed July 1; insurance agency sold for $56.4M cash, estimated after-tax gain $36.4M in Q3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714562/000071456224000040/0000714562-24-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714562/000071456224000040/thff-20240723x8k.htm
  HTML page:      https://secwatch.observer/filing/0000714562-24-000040

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