Profile: First Financial Corp (THFF.OQ)
7 Mar 2014
First Financial Corporation is a financial holding company. The Company offers a variety of financial services, including commercial, mortgage and consumer lending, lease financing, trust account services, depositor services and insurance services through its three subsidiaries. First Financial Bank, N.A. (the Bank), as of December 31, 2011, operated 11 full-service banking branches within the county, five in Clay County, Indiana; one in Greene County, Iniana.; three in Knox County, Indiana; five in Parke County, Indiana; one in Putnam County, Indiana, five in Sullivan County, Indiana.; four in Vermillion County, Indiana; six in Champaign County, Illinois; one in Clark County, Illinois; one in Coles County, Illinois; three in Crawford County, Illinois; one in Jasper County, Illinois; one in Lawrence County, Illinois; three in Livingston County, Illinois; four in McLean County, Illinois; two in Richland County, Illinois; seven in Vermilion County, Illinois, and one in Wayne County, Illinois. On December 30, 2011, the Bank completed its acquisition of 100% interest of Freestar Bank, National Association, of Pontiac, Illinois and merged Freestar Bank into the Bank.
The Company’s primary source of revenue is derived from loans to customers, primarily middle-income individuals, and investment activities. The Morris Plan Company of Terre Haute, Inc. (Morris Plan) has one office and is located in Vigo County. Forrest Sherer Inc. is a regional supplier of insurance, surety and other financial products. The Company, as of December 31, 2011, operated 65 branches in west-central Indiana and east-central Illinois.
The Bank’s loan portfolio includes commercial, residential and consumer loans. During the year ended December 31, 2011, the Bank’s loan portfolio totaled $1894.641 million.
The Company classifies its securities as available for sale. The securities includes the United States government entity mortgage-backed securities, mortgage-backed securities, residential, mortgage-backed securities, commercial, collateralized mortgage obligations, state and municipal obligations, collateralized debt obligations and equity securities.
Sources of Fund
The Bank’s deposits portfolio consists of non-interest-bearing demand deposits, interest-bearing demand deposits, savings deposits and time deposits, such as $100,000 or more and other time deposits. As od December 31, 2011, the Bank’s deposits portfolio totaled $1926.477 million. The Bank’s borrowings include short-term borrowings and other borrowings. Short-term borrowings include federal funds purchased and repurchase-agreements. As of December 31, 2011, the short-term borrowings totaled S100.022 million. The other borrowings include Federal Home Loan Bank (FHLB) advances and junior subordinated debentures (variable rate). As of December 31, 2011, the other borrowings totaled $146.427 million.
First Financial Corp
One First Financial Plaza
TERRE HAUTE IN 47807