First Financial signs $111.3M merger with First Illinois; adds Hickory Point Bank

FIRST FINANCIAL CORP /IN/

Deal value ~$111.3M; per-share consideration: 0.5727 THFF shares or $44.35 cash, 70% stock/30% cash.
Implied price $45.00/share based on THFF close $79.07 on 8/26/26; First Illinois holders to own ~8% of combined.
Hickory Point Bank (8 branches in Decatur, Springfield, Champaign) has $717M assets, $438M loans, $627M deposits as of 6/30/26.
Combined company: ~$6.9B assets, $4.9B loans, $5.5B deposits; expected close Q4 2026 subject to regulatory and shareholder approvals.
Termination fee $4.4M; First Illinois directors have voting agreements to support merger.

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