Profile: First Financial Corp (THFF.OQ)
17 Jan 2017
First Financial Corporation, incorporated on October 28, 1982, is a financial holding company. The Company, through its subsidiaries, offers financial services, including commercial, mortgage and consumer lending, lease financing, trust account services, depositor services and insurance services. The Company is the holding company of First Financial Bank, N.A. (the Bank). The Company operates in the banking segment. It operates over 10 full-service banking branches within the county, including Clay County, Daviess County, Gibson County, Greene County, Knox County, Parke County, Putnam County, Sullivan County, Vanderburgh, Vermillion County, Champaign County, Clark County, Coles County, Crawford County, Franklin County, Jasper County, Jefferson County, Lawrence County and Livingston County.
The Company's other subsidiaries include The Morris Plan Company of Terre Haute (Morris Plan); Forrest Sherer Inc. (Forrest Sherer), a full-line insurance agency, and FFB Risk Management Co., Inc., a captive insurance company. The Bank also has approximately two investment subsidiaries, including Portfolio Management Specialists A (Specialists A) and Portfolio Management Specialists B (Specialists B), which hold and manage assets to manage various income streams and provide opportunities for capital creation as needed. Specialists A and Specialists B are Global Portfolio Limited Partners. Portfolio Management Specialists B also owns First Financial Real Estate, LLC. Forrest Sherer is a regional supplier of insurance, surety and other financial products. FFB Risk Management Co., Inc. located in Las Vegas, Nevada is a captive insurance subsidiary, which insures various liability and property damage policies for the Company's subsidiaries.
The Bank's loan portfolio includes commercial, residential and consumer. Its retail real estate mortgages are secured by one- to four-family residences, which are generally owner occupied, and include residential real estate and residential real estate construction loans. The Bank's consumer portfolio primarily consists of home equity loans and lines (secured by a subordinate lien on a one- to four-family residence), secured loans (secured by automobiles, boats, recreational vehicles or motorcycles), cash and certificate of deposit (CD) secured, and unsecured loans. The Bank's loan totals approximately $1.74 billion.
The Bank's investments consist of the United States Government sponsored entity mortgage-backed securities and agencies, collateralized mortgage obligations, states and political subdivisions, and corporate obligations. The Bank's total securities available for sale are approximately $891.08 million.
Sources of Funds
The Bank's sources of funds include deposits, short term borrowings and other borrowings. The Bank's total deposit is approximately $2.44 billion. Its short term borrowings include Federal funds purchased and Repurchase-agreements. Its other borrowings primarily include Federal Home Loan Bank (FHLB) advances.
First Financial Corp
1 First Financial Plz
TERRE HAUTE IN 47807-3226