FIRST FINANCIAL CORP /IN/ Files DEF 14A

TL;DR

<b>FIRST FINANCIAL CORP /IN/ files a DEF 14A with SEC.</b>

AI Summary

FIRST FINANCIAL CORP /IN/ (THFF) filed a Proxy Statement (DEF 14A) with the SEC on March 15, 2024. Filing is a DEF 14A for FIRST FINANCIAL CORP /IN/. The company's Central Index Key is 0000714562. The Standard Industrial Classification is 6022 (State Commercial Banks). The filing covers the period ending 2024-03-15. Incorporated in Indiana, with fiscal year end on 12/31.

Why It Matters

For investors and stakeholders tracking FIRST FINANCIAL CORP /IN/, this filing contains several important signals. This DEF 14A filing indicates a significant corporate governance event, likely related to shareholder meetings or executive compensation disclosures. As a commercial bank, the disclosures within this filing are crucial for understanding regulatory compliance and executive remuneration practices within the financial sector.

Risk Assessment

Risk Level: low — FIRST FINANCIAL CORP /IN/ shows low risk based on this filing. The filing is a standard DEF 14A, which is a routine disclosure for public companies and does not inherently indicate significant financial or operational changes.

Analyst Insight

Review the executive compensation details and any proposals presented to shareholders in this DEF 14A filing to understand potential impacts on corporate governance and shareholder value.

Key Numbers

• 2024-03-15 — Filing Date (Conformed Submission Type)
• 2024-03-15 — Period of Report (Conformed Period of Report)
• 2023-12-31 — Fiscal Year End (Fiscal Year End)
• 000-16759 — SEC File Number (SEC File Number)

Key Players & Entities

• FIRST FINANCIAL CORP /IN/ (company) — Filer
• 0000714562 (company) — Central Index Key
• 6022 (regulator) — Standard Industrial Classification
• IN (company) — State of Incorporation
• TERRE HAUTE (company) — Business Address City
• 47807 (company) — Business Address ZIP
• 000-16759 (company) — SEC File Number
• 19850808 (company) — Date of Name Change

FAQ

Industry Context

FIRST FINANCIAL CORP /IN/ operates within the State Commercial Banks industry (SIC 6022).

Regulatory Implications

As a commercial bank, the company is subject to regulations governed by the Securities Exchange Act of 1934, as indicated by the DEF 14A filing.

What Investors Should Do

1. Analyze executive compensation packages disclosed in the DEF 14A.
2. Review shareholder proposals and voting recommendations.
3. Assess any changes in corporate governance practices.

Key Dates

• 2024-03-15: Filing Date — Filing of DEF 14A
• 2023-12-31: Fiscal Year End — End of reporting period for financial data

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure document. No prior filing data is available for comparison within this extract.

Key Financial Figures

• $1.28 — nd to increase shareholder dividends to $1.28 per share for the year, including a spe
• $0.20 — share for the year, including a special $0.20 dividend. Our 2023 reported net income
• $60.7 million — idend. Our 2023 reported net income was $60.7 million. Our diluted net income per common shar
• $5 — diluted net income per common share was $5.08, and we attained return on average a
• $3.17 billion — s include: Total loans outstanding of $3.17 billion as of December 31, 2023, compared to $3
• $3.07 billion — on as of December 31, 2023, compared to $3.07 billion as of December 31, 2022, an increase of
• $100 million — as of December 31, 2022, an increase of $100 million or 3.27% Total deposits of $4.1 billio
• $4.1 billion — 100 million or 3.27% Total deposits of $4.1 billion Net interest income of $167.3 million,
• $167.3 m — of $4.1 billion Net interest income of $167.3 million, compared to $165.0 million for 2
• $165.0 million — t income of $167.3 million, compared to $165.0 million for 2022, a 1.3% increase Net interest
• $42.7 million — m 3.54% in 2022 Non-interest income of $42.7 million Tier one capital ratio was 14.76%, com
• $702 million — see, with total assets of approximately $702 million as of September 30, 2023. SimplyBank of

Filing Documents

• tmb-20240315xdef14a.htm (DEF 14A) — 1247KB
• tmb-20240315xdef14a001.jpg (GRAPHIC) — 8KB
• tmb-20240315xdef14a002.jpg (GRAPHIC) — 3KB
• tmb-20240315xdef14a005.jpg (GRAPHIC) — 13KB
• tmb-20240315xdef14a006.jpg (GRAPHIC) — 15KB
• tmb-20240315xdef14a007.jpg (GRAPHIC) — 76KB
• tmb-20240315xdef14a008.jpg (GRAPHIC) — 69KB
• tmb-20240315xdef14a009.jpg (GRAPHIC) — 82KB
• tmb-20240315xdef14a011.jpg (GRAPHIC) — 120KB
• tmb-20240315xdef14a012.jpg (GRAPHIC) — 76KB
• 0000714562-24-000012.txt (&nbsp;) — 3127KB
• tmb-20240315.xsd (EX-101.SCH) — 7KB
• tmb-20240315_def.xml (EX-101.DEF) — 9KB
• tmb-20240315_lab.xml (EX-101.LAB) — 16KB
• tmb-20240315_pre.xml (EX-101.PRE) — 8KB
• tmb-20240315xdef14a_htm.xml (XML) — 214KB

EXECUTIVE COMPENSATION DISCUSSION AND ANALYSIS

EXECUTIVE COMPENSATION DISCUSSION AND ANALYSIS 29

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 45 Summary Compensation Table 45 Grants of Plan-Based Awards 46 Outstanding Equity Awards at Fiscal Year-End 47 Option Exercises and Stock Vested in 202 3 47 Pension Benefits 47 Nonqualified Deferred Compensation For 202 3 48 Employment Agreements 48 Potential Payments Upon Termination or Change in Control 51 CEO PAY RATIO 54 PAY VERSUS PERFORMANCE 55

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 61 DELINQUENT SECTION 16(a) REPORTS 62 PROPOSAL 2: NON-BINDING ADVISORY VOTE TO APPROVE THE COMPENSATION PAID TO NAMED EXECUTIVE OFFICERS 63 PROPOSAL 3: RATIFICATION OF APPOINTMENT OF CROWE LLP AS THE CORPORATION'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 65 MATTERS RELATING TO INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 66 Fees Paid to Crowe LLP 66 i Table of Contents Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of Independent Public Accounting Firm 66 SHAREHOLDER PROPOSALS AND DIRECTOR NOMINATIONS 67 IMPORTANT NOTICE REGARDING THE INTERNET AVAILABILITY OF PROXY MATERIALS FOR THE 2024 ANNUAL MEETING 68 HOUSEHOLDING 69 ADDITIONAL INFORMATION 70 OTHER MATTERS 71 ii Table of Contents FIRST FINANCIAL CORPORATION ONE FIRST FINANCIAL PLAZA P.O. BOX 540 TERRE HAUTE, INDIANA 47808 (812) 238-6000 PROXY STATEMENT In this proxy statement, First Financial Corporation is referred to as "we," "us," "our," "the Corporation" or "First Financial," and First Financial Bank, N.A. is referred to as "the Bank." PROXY STATEMENT SUMMARY Because the following summarizes information that is further described in this Proxy Statement, we encourage you to read this document in its entirety before casting your vote. In addition, you can find frequently asked questions and their answers on page 6. Virtual Annual Meeting The Annual Meeting will be held virtually via a live audio webcast. There will not be a physical meeting location available for in-person participation. We believe holding our annual meeting online will facilitate greater shareholder attendance while still providing comparable rights and opportunities to participate, including the ability to ask questions, as a shareholder would have if he or she were attending our annual meeting in person. Our 2023 Performance and Achievements Financial Performance Fiscal year

View Full Filing

View this DEF 14A filing on SEC EDGAR