First Financial Corp. to Acquire The First National Bank of Monterey

Ticker: THFF · Form: 8-K · Filed: Nov 29, 2024 · CIK: 714562

First Financial Corp /In/ 8-K Filing Summary
FieldDetail
CompanyFirst Financial Corp /In/ (THFF)
Form Type8-K
Filed DateNov 29, 2024
Risk Levelmedium
Pages2
Reading Time2 min
Key Dollar Amounts$0.125
Sentimentneutral

Sentiment: neutral

Topics: acquisition, financials, expansion

TL;DR

FFC buying another bank in IN, deal expected Q1 2025.

AI Summary

First Financial Corp. announced on November 29, 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. This acquisition will expand First Financial's presence in Indiana.

Why It Matters

This acquisition will allow First Financial Corp. to expand its market share 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 approvals, and potential impacts on financial performance.

Key Players & Entities

  • First Financial Corp. (company) — Acquiring entity
  • The First National Bank of Monterey (company) — Target entity
  • November 29, 2024 (date) — Announcement date
  • first quarter of 2025 (date) — Expected closing period

FAQ

What is the name of the bank First Financial Corp. is acquiring?

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 is the primary benefit of this acquisition for First Financial Corp.?

The acquisition will expand First Financial's presence in Indiana.

Are there any conditions to the closing of this transaction?

Yes, the transaction is subject to customary closing conditions.

What is the filing date of this Form 8-K?

The Form 8-K was filed on November 29, 2024.

Filing Stats: 549 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-11-29 08:53:59

Key Financial Figures

  • $0.125 — ch registered Common Stock, par value $0.125 per share THFF The NASDAQ Stock Mar

Filing Documents

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. Norman D. Lowery, President and Chief Executive Officer, Rodger A. McHargue, Senior Vice President and Chief Financial Officer, and Steve Panagouleas, Senior Vice President and Chief Credit Officer, of First Financial Corporation, Inc. will participate in the Piper Sandler Indiana Bank Tour being held December 3, 2024. Attached as Exhibit 99.1 is the information that will be provided to meeting participants. Such information is incorporated herein by reference. The foregoing information is being furnished pursuant to this Item 7.01 and shall not be deemed to be "filed" for purposes of section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. In addition, this information shall not be deemed to be incorporated by reference into any of the Registrant's filings with the Securities and Exchange Commission, except as shall be expressly set forth by specific reference in any such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits The exhibit to this report is as follows: Exhibit Number 99.1 First Financial Corporation, Inc. Presentation dated December 3, 2024. 104 Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)

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 November 29, 2024 /s/ Rodger A. McHargue Rodger A. McHargue Secretary/Treasurer and Chief Financial Officer

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