THFF earnings analysis
What we found in THFF's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS Growth
- Diluted EPS rose to $1.67, up 7.74% from $1.55 one year ago.
- Strong Net Interest Income
- Net interest income reached $56.9 million, an increase of $4.9 million from $52.0 million in Q1 2025.
- Improved Net Interest Margin
- Net interest margin improved to 4.23% compared to 4.11% in the previous year.
- Loan Growth
- Loans increased by $369 million to $4.4 billion as of Q1 2026.
- Acquisition Benefits
- The acquisition of CedarStone Financial contributed to the results, reflecting a $716K bargain purchase gain.
- Stable Asset Quality
- Non-performing loans decreased slightly to $28.5 million from $28.6 million in December 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Rising Non-Performing Loans
- Non-performing loans have increased 179.9% YoY from $10.2 million in Q1 2025.
- Increased Credit Loss Provision
- Provision for credit losses rose to $2.6 million, compared to $2.0 million in Q1 2025.
- Increased Non-Interest Expenses
- Non-interest expenses increased to $40.9 million, up from $36.8 million in the prior year due to acquisitions.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.67
What they said about what is next.
Management expects continued growth driven by the CedarStone acquisition, but provides no specific numeric guidance.
The filing reads better than the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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