First Financial Bank

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This article is about the Terre Haute, Indiana-based bank. For the Cincinnati-based bank, see First Financial Bank (Ohio).
First Financial Corporation
First Financial Bank
TypePublic
Nasdaq: THFF
Russell 2000 Component
IndustryFinance
Founded1834; 188 years ago (1834) as the Terre Haute branch of the Second State Bank of Indiana
HeadquartersTerre Haute, Indiana, USA
Area served
Indiana, Illinois, Kentucky, Tennessee
Key people
Norman L. Lowery, Vice Chairman & CEO
ProductsFinancial services
Number of employees
More than 2000 (2010)[1]
Websitefirst-online.bank

First Financial Bank is a regional bank with 86 retail branches and 137 ATMs operated by First Financial Corporation and based in Terre Haute, Indiana. It is the oldest national bank in Indiana. First Financial Corporation is Vigo County's only publicly traded company.

History[]

The bank was founded in 1834 as a branch of the and later became known as Terre Haute First National Bank. In 1983, First Financial Corporation was established as the bank's holding company, and in August 1984 it became Indiana's first multi-bank holding company. After mergers and acquisitions, the various banks affiliated as First Financial Bank in 2003.

The bank now operates in Indiana and Illinois. The Morris Plan Company of Terre Haute is a subsidiary of First Financial Corporation.[1] On September 27, 2021, First Financial Corporation announced that the Morris Plan bank will be merged into First Financial Bank, effective December 31, 2021.[2]

On July 29, 2019, First Financial Corporation announced completion of its merger with HopFed Bancorp, Inc. (HFBC) and the merger of First Financial Bank with HFBC’s wholly owned subsidiary, Heritage Bank USA.[3]

Under the terms of the merger agreement, shareholders of HFBC may elect to receive either (or a combination of) 0.444 shares of First Financial common stock or $21.00 in cash for each share of HFBC common stock owned, subject to proration provisions that provide for a targeted aggregate split of 50% of HFBC shares being exchanged for First Financial common stock and 50% for cash. Based upon First Financial’s closing price of $43.43 per share on July 26, 2019, and assuming that a shareholder received 50% stock and 50% cash, the shareholder would receive total consideration with an implied value of approximately $20.14 per share, with an aggregate transaction value of approximately $133.9 million.

As a result of the merger, First Financial Bank now operates 83 banking centers and five loan production offices serving Indiana, Illinois, Kentucky and Tennessee.

Services[]

The company offers cash management services, lease financing, debit cards, online banking, and other electronically accessed banking services. First Financial Bank also provides various services, including investment advisory and wealth management, investment and brokerage, and investment consulting.

References[]

  1. ^ a b "First Financial Bank Corporate Profile". SNL Financial. Retrieved 2010-06-23.
  2. ^ "TH First Financial Corp. merges with The Morris Plan". Terre Haute Tribune-Star. September 27, 2021. Retrieved September 28, 2021.
  3. ^ https://www.globenewswire.com/news-release/2019/07/29/1892904/0/en/First-Financial-Corporation-and-HopFed-Bancorp-Announce-Completion-of-Merger-Transaction.html

External links[]

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