10-K · March 4, 2026
First Financial Corporation (THFF) shows multi-quarter improvement in revenue, margins and cash generation in 2025 with total reported branch and employee scale supporting regional growth. Regulatory capital remains…
Earnings analysis · 10-Q
THFF earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
First Financial Corporation reported a solid Q1 2026 performance with net income of $19.8 million and diluted EPS of $1.67, up from $18.4 million and $1.55, respectively, in Q1 2025. The company achieved record net…
Read full summary
First Financial Corporation reported a solid Q1 2026 performance with net income of $19.8 million and diluted EPS of $1.67, up from $18.4 million and $1.55, respectively, in Q1 2025. The company achieved record net interest income of $56.9 million driven by a 4.23% net interest margin, though revenue fell slightly short of expectations at $68.15 million. The acquisition of CedarStone Financial is expected to positively impact future results.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.67
What stood out
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EPS Growth
Diluted EPS rose to $1.67, up 7.74% from $1.55 one year ago.
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Strong Net Interest Income
Net interest income reached $56.9 million, an increase of $4.9 million from $52.0 million in Q1 2025.
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Improved Net Interest Margin
Net interest margin improved to 4.23% compared to 4.11% in the previous year.
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Loan Growth
Loans increased by $369 million to $4.4 billion as of Q1 2026.
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Acquisition Benefits
The acquisition of CedarStone Financial contributed to the results, reflecting a $716K bargain purchase gain.
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Stable Asset Quality
Non-performing loans decreased slightly to $28.5 million from $28.6 million in December 2025.
What to watch
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Rising Non-Performing Loans
Non-performing loans have increased 179.9% YoY from $10.2 million in Q1 2025.
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Increased Credit Loss Provision
Provision for credit losses rose to $2.6 million, compared to $2.0 million in Q1 2025.
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Increased Non-Interest Expenses
Non-interest expenses increased to $40.9 million, up from $36.8 million in the prior year due to acquisitions.
Management's outlook
Management expects continued growth driven by the CedarStone acquisition, but provides no specific numeric guidance.
Earlier filings 4
10-Q · August 7, 2025
First Financial reported strong Q2 2025 results: total revenue (net interest + non-interest) of $63,052,000 and EPS of $1.57, up materially vs Q2 2024. Net interest income and margins expanded, credit provision…
10-K · March 5, 2025
First Financial Corporation is a regional financial holding company centered in west‑central Indiana with a broad retail and commercial banking franchise offering commercial, mortgage and consumer lending, lease…
10-Q · August 7, 2024
First Financial reported Q2 net income of $11,369,000 (EPS $0.96), down from $15,987,000 (EPS $1.33) a year ago, while total interest income plus noninterest income was $70,676,000 (60,771 + 9,905). Revenue (interest…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.