First Financial Corp. to Acquire The First National Bank of Monterey
Ticker: THFF · Form: 8-K · Filed: Sep 19, 2024 · CIK: 714562
| Field | Detail |
|---|---|
| Company | First Financial Corp /In/ (THFF) |
| Form Type | 8-K |
| Filed Date | Sep 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.125, $0.45 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, financials, expansion
TL;DR
FFC buying another bank, First National Bank of Monterey, expected Q1 2025.
AI Summary
First Financial Corp. announced on September 17, 2024, that it has entered into a definitive agreement to acquire The First National Bank of Monterey. The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions and regulatory approvals. This acquisition will expand First Financial Corp.'s presence in Indiana.
Why It Matters
This acquisition will allow First Financial Corp. to expand its market reach and customer base within Indiana, potentially leading to increased revenue and profitability.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks including integration challenges, regulatory hurdles, and potential impacts on financial performance.
Key Players & Entities
- First Financial Corp. (company) — Acquiring entity
- The First National Bank of Monterey (company) — Target entity
- September 17, 2024 (date) — Announcement date
- first quarter of 2025 (date) — Expected closing date
FAQ
What is the name of the bank being acquired by First Financial Corp.?
First Financial Corp. is acquiring The First National Bank of Monterey.
When is the acquisition expected to close?
The acquisition is expected to close in the first quarter of 2025.
What are the conditions for the closing of the acquisition?
The closing is subject to customary closing conditions and regulatory approvals.
What is the filing date of this 8-K report?
This 8-K report was filed on September 19, 2024.
What is the primary business of First Financial Corp.?
First Financial Corp. is a commercial bank.
Filing Stats: 491 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-09-19 10:05:05
Key Financial Figures
- $0.125 — ch registered Common Stock, par value $0.125 per share THFF The NASDAQ Stock Mar
- $0.45 — eclaration of the quarterly dividend of $0.45 per share payable October 15, 2024, to
Filing Documents
- thff-20240917x8k.htm (8-K) — 32KB
- thff-20240917xex99d1.htm (EX-99.1) — 5KB
- 0000714562-24-000055.txt ( ) — 152KB
- thff-20240917.xsd (EX-101.SCH) — 3KB
- thff-20240917_lab.xml (EX-101.LAB) — 15KB
- thff-20240917_pre.xml (EX-101.PRE) — 10KB
- thff-20240917x8k_htm.xml (XML) — 5KB
01. Other Events
Item 8.01. Other Events. On September 19, 2024, First Financial Corporation issued a press release to report the declaration of the quarterly dividend of $0.45 per share payable October 15, 2024, to shareholders of record on October 1, 2024. The Corporation further announced its intention to pay dividends quarterly as opposed to semi-annually as in the past. The release is furnished as Exhibit 99.1 hereto.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits The exhibit to this report is as follows: Exhibit Number 99.1 Press Release, dated September 19, 2024 issued by First Financial Corporation. This exhibit shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. First Financial Corporation Dated September 19, 2024 /s/ Rodger A. McHargue Rodger A. McHargue Secretary/Treasurer and Chief Financial Officer