First Financial Corp 8-K, filed Feb 3, 2026
First Financial Corp (THFF)
About this 8-K
First Financial Corp filed this 8-K on February 3, 2026.
Items reported
- Item 2.02: Financial results
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition
On February 3, 2026, the Registrant issued a press release reporting its financial results for the year ended December 31, 2025. A copy of the press release is being furnished as an exhibit to this report and is incorporated herein by reference in its entirety.
The foregoing information, including the information contained in the press release, is being furnished pursuant to this Item 2.02 and shall not be deemed to be “filed” for purposes of section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. In addition, this information shall not be deemed to be incorporated by reference into any of the Registrant’s filings with the Securities and Exchange Commission, except as shall be expressly set forth by specific reference in any such filing.
Item 9.01. Financial Statements and Exhibits
The exhibit to this report is as follows:
Exhibit Number | | |
| | |
99.1 | | Press Release, February 3, 2026, issued by First Financial Corporation |
104 | | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| First Financial Corporation |
| |
Dated February 3, 2026 | |
| /s/ Rodger A. McHargue |
| Rodger A. McHargue |
| Secretary/Treasurer and Chief Financial Officer |
Exhibit 99.1
FIRST FINANCIAL CORPORATION
One First Financial Plaza, Terre Haute, Indiana 47807 (812) 238-6000
First Financial Corporation Reports 2025 Results
Terre Haute, Indiana, February 3, 2026 – First Financial Corporation (NASDAQ:THFF) today announced results for the fourth quarter of 2025.
| ● | Net income was $21.5 million compared to $16.2 million reported for the same period of 2024; |
| ● | Diluted net income per common share of $1.81 compared to $1.37 for the same period of 2024; |
| ● | Return on average assets was 1.52% compared to 1.18% for the three months ended December 31, 2024; |
| ● | Provision for credit losses was $2.4 million compared to provision of $2.0 million for the fourth quarter 2024; and |
| ● | Pre-tax, pre-provision net income was $29.4 million compared to $22.3 million for the same period in 2024.1 |
The Corporation further reported results for the year ended December 31, 2025:
| ● | Net income was $79.2 million compared to $47.3 million reported for the same period of 2024; |
| ● | Diluted net income per common share of $6.68 compared to $4.00 for the same period of 2024; |
| ● | Return on average assets was 1.42% compared to 0.92% for the twelve months ended December 31, 2024; |
| ● | Provision for credit losses was $8.2 million compared to provision of $16.2 million for the twelve months ended December 31, 2024; and |
| ● | Pre-tax, pre-provision net income was $107.7 million compared to $73.4 million for the same period in 2024.1 |
1 Non-GAAP financial measure that Management believes is useful for investors and management to understand pre-tax profitability before giving effect to credit loss expense and to provide additional perspective on the Corporation’s performance over time as well as comparison to the Corporation’s peers and evaluating the financial results of the Corporation – please refer to the Non GAAP reconciliations contained in this release.
Average Total Loans
Average total loans for the fourth quarter of 2025 were $3.97 billion versus $3.79 billion for the comparable period in 2024, an increase of $183 million or 4.84%. On a linked quarter basis, average loans increased $45 million or 1.15% from $3.93 billion as of September 30, 2025.
Total Loans Outstanding
Total loans outstanding as of December 31, 2025, were $4.06 billion compared to $3.84 billion as of December 31, 2024, an increase of $218 million or 5.69%. On a linked quarter basis, total loans increased $87.9 million or 2.22% from $3.97 billion as of September 30, 2025. Organic growth was primarily driven by increases in Commercial Construction and Development, Commercial Real Estate, and Consumer Auto loans.
Norman D. Lowery, President and Chief Executive Officer, commented “We are pleased with our fourth quarter and full year 2025 performance, marking the ninth consecutive quarter of loan growth and surpassing $4 billion in loans for the first time. Additionally, we achieved another record in net interest income and record net income for 2025. We have good momentum as we enter 2026, our capital remains strong and we believe we are well positioned for the current market environment.”
Average Total Deposits
Average total deposits for the quarter ended December 31, 2025, were $4.64 billion versus $4.76 billion as of December 31, 2024, a decrease of $116 million, or 2.44%. On a linked quarter basis, average deposits increased $50 million or 1.08% from $4.59 billion as of September 30, 2025.
Total Deposits
Total deposits were $4.55 billion as of December 31, 2025, compared to $4.72 billion as of December 31, 2024. On a linked quarter basis, total deposits decreased $64.2 million or 1.39% from $4.62 billion as of September 30, 2025. Non-interest bearing deposits were $916.5 million, and time deposits were $704.0 million as of December 31, 2025, compared to $859.0 million and $749.4 million, respectively for the same period of 2024.
Shareholders’ Equity
Shareholders’ equity at December 31, 2025, was $650.9 million compared to $549.0 million on December 31, 2024. During the last twelve months, the Corporation has not repurchased any shares of its common stock. 518,860 shares remain available for repurchase under the current repurchase authorization. The Corporation paid a $0.51 per share quarterly dividend in October and declared a $0.56 quarterly dividend, which was paid on January 15, 2026.
Book Value Per Share
Book Value per share was $54.78 as of December 31, 2025, compared to $46.36 as of December 31, 2024, an increase of $8.42 per share, or 18.17%. Tangible Book Value per share was $45.15 as of December 31, 2025, compared to $36.10 as of December 31, 2024, an increase of $9.05 per share or 25.07%.
Tangible Common Equity to Tangible Asset Ratio
The Corporation’s tangible common equity to tangible asset ratio was 9.51% at December 31, 2025, compared to 7.86% at December 31, 2024.
Net Interest Income
Net interest income for the fourth quarter of 2025 was a record $60.6 million, compared to $49.6 million reported for the same period of 2024, an increase of $11.0 million, or 22.2%. Interest income increased $8.9 million and interest expense decreased $2.2 million year over year. The quarter included $4.6 million interest recovery and fees on non-accrual from the resolution of an impaired credit acquired in a merger in 2019.
Net Interest Margin
The net interest margin for the quarter ended December 31, 2025, was 4.66% compared to the 3.94% reported at December 31, 2024.
Nonperforming Loans
Nonperforming loans as of December 31, 2025, were $14.8 million versus $13.3 million as of December 31, 2024. The ratio of nonperforming loans to total loans and leases was 0.36% as of December 31, 2025, versus 0.35% as of December 31, 2024. On a linked quarter basis, nonperforming loans were $19.3 million, and the ratio of nonperforming loans to total loans and leases was 0.49% as of September 30, 2025.
Credit Loss Provision
The provision for credit losses for the three months ended December 31, 2025, was $2.4 million, compared to $2.0 million for the same period 2024.
Net Charge-Offs
In the fourth quarter of 2025 net charge-offs were $1.8 million compared to $1.4 million in the same period of 2024.
Allowance for Credit Losses
The Corporation’s allowance for credit losses as of December 31, 2025, was $48.0 million compared to $46.7 million as of December 31, 2024. The allowance for credit losses as a percent of total loans was 1.18% as of December 31, 2025, compared to 1.22% as of December 31, 2024. On a linked quarter basis, the allowance for credit losses as a percent of total loans decreased two basis points from 1.20% as of September 30, 2025.
Non-Interest Income
Non-interest income for the three months ended December 31, 2025 and 2024 was $9.9 million and $12.2 million, respectively. The quarter included $4.6 million of losses associated with an investment portfolio restructuring in which $80 million of securities were sold and reinvested at an approximately two percent higher yield. There was also a $2.4 million accrual adjustment with the Corporation’s transition to paid time-off from the existing vacation and sick time accruals.
Non-Interest Expense
Non-interest expense for the three months ended December 31, 2025, was $41.8 million compared to $39.8 million in 2024. The quarter included $1.4 million of expenses related to the pending acquisition of CedarStone Financial announced on November 6, 2025, and an additional $1.3 million of one-time expenses.
Efficiency Ratio
The Corporation’s efficiency ratio was 58.17% for the quarter ending December 31, 2025, versus 62.98% for the same period in 2024.
Income Taxes
Income tax expense for the three months ended December 31, 2025, was $4.9 million versus $3.8 million for the same period in 2024. The effective tax rate for 2025 was 19.76% compared to 17.28% for 2024.
About First Financial Corporation
First Financial Corporation (NASDAQ:THFF) is the holding company for First Financial Bank N.A., which is the fifth oldest national bank in the United States, operating 79 banking centers in Illinois, Indiana, Kentucky, Tennessee, and Georgia. Additional information is available at www.first-online.bank.
Investor Contact:
Rodger A. McHargue
Chief Financial Officer
P: 812-238-6334
E: rmchargue@first-online.com
| | Three Months Ended | | Year Ended | |||||||||||
| | December 31, | | September 30, | | December 31, | | December 31, | | December 31, | |||||
| | 2025 | | 2025 | | 2024 | | 2025 | | 2024 | |||||
END OF PERIOD BALANCES | | | | | | | | | | | | | | | |
Assets | | $ | 5,756,126 | | $ | 5,669,686 | | $ | 5,560,348 | | $ | 5,756,126 | | $ | 5,560,348 |
Deposits | | $ | 4,551,111 | | $ | 4,615,305 | | $ | 4,718,914 | | $ | 4,551,111 | | $ | 4,718,914 |
Loans, including net deferred loan costs | | $ | 4,055,303 | | $ | 3,967,401 | | $ | 3,837,141 | | $ | 4,055,303 | | $ | 3,837,141 |
Allowance for Credit Losses | | $ | 47,995 | | $ | 47,411 | | $ | 46,732 | | $ | 47,995 | | $ | 46,732 |
Total Equity | | $ | 649,725 | | $ | 622,218 | | $ | 549,041 | | $ | 649,725 | | $ | 549,041 |
Tangible Common Equity (a) | | $ | 535,262 | | $ | 506,604 | | $ | 427,470 | | $ | 535,262 | | $ | 427,470 |
| | | | | | | | | | | | | | | |
AVERAGE BALANCES | |
| | |
| | |
| | |
| | |
| |
Total Assets | | $ | 5,654,790 | | $ | 5,593,870 | | $ | 5,516,036 | | $ | 5,571,663 | | $ | 5,154,320 |
Earning Assets | | $ | 5,334,253 | | $ | 5,270,173 | | $ | 5,196,352 | | $ | 5,253,031 | | $ | 4,871,293 |
Investments | | $ | 1,258,077 | | $ | 1,248,519 | | $ | 1,311,415 | | $ | 1,254,276 | | $ | 1,310,263 |
Loans | | $ | 3,973,985 | | $ | 3,928,817 | | $ | 3,790,515 | | $ | 3,905,450 | | $ | 3,468,534 |
Total Deposits | | $ | 4,641,267 | | $ | 4,591,531 | | $ | 4,757,438 | | $ | 4,633,683 | | $ | 4,405,679 |
Interest-Bearing Deposits | | $ | 3,790,653 | | $ | 3,783,393 | | $ | 3,925,740 | | $ | 3,813,717 | | $ | 3,767,259 |
Interest-Bearing Liabilities | | $ | 326,493 | | $ | 359,579 | | $ | 134,553 | | $ | 304,146 | | $ | 166,377 |
Total Equity | | $ | 640,172 | | $ | 601,034 | | $ | 556,330 | | $ | 595,559 | | $ | 535,963 |
| | | | | | | | | | | | | | | |
INCOME STATEMENT DATA | |
| | |
| | |
| | |
| | |
| |
Net Interest Income | | $ | 60,619 | | $ | 54,603 | | $ | 49,602 | | $ | 219,868 | | $ | 174,986 |
Net Interest Income Fully Tax Equivalent (b) | | $ | 62,003 | | $ | 56,033 | | $ | 50,985 | | $ | 225,500 | | $ | 180,586 |
Provision for Credit Losses | | $ | 2,350 | | $ | 1,950 | | $ | 2,000 | | $ | 8,200 | | $ | 16,166 |
Non-interest Income | | $ | 9,931 | | $ | 11,149 | | $ | 12,213 | | $ | 41,972 | | $ | 42,772 |
Non-interest Expense | | $ | 41,843 | | $ | 38,048 | | $ | 39,801 | | $ | 154,926 | | $ | 144,438 |
Net Income | | $ | 21,454 | | $ | 20,762 | | $ | 16,241 | | $ | 79,208 | | $ | 47,275 |
| | | | | | | | | | | | | | | |
PER SHARE DATA | |
| | |
| | |
| | |
| | |
| |
Basic and Diluted Net Income Per Common Share | | $ | 1.81 | | $ | 1.75 | | $ | 1.37 | | $ | 6.68 | | $ | 4.00 |
Cash Dividends Declared Per Common Share | | $ | 0.56 | | $ | 0.51 | | $ | 0.51 | | $ | 2.09 | | $ | 1.86 |
Book Value Per Common Share | | $ | 54.78 | | $ | 52.50 | | $ | 46.36 | | $ | 54.78 | | $ | 46.36 |
Tangible Book Value Per Common Share (c) | | $ | 44.31 | | $ | 40.96 | | $ | 36.77 | | $ | 45.15 | | $ | 36.10 |
Basic Weighted Average Common Shares Outstanding | |
| 11,865 | |
| 11,851 | |
| 11,824 | |
| 11,852 | |
| 11,812 |
Key Ratios | | Three Months Ended | | Year Ended |
| ||||||
| | December 31, | | September 30, | | December 31, | | December 31, | | December 31, |
|
| | 2025 | | 2025 | | 2024 | | 2025 | | 2024 |
|
Return on average assets |
| 1.52 | % | 1.48 | % | 1.18 | % | 1.42 | % | 0.92 | % |
Return on average common shareholder's equity |
| 13.41 | % | 13.82 | % | 11.68 | % | 13.30 | % | 8.82 | % |
Efficiency ratio |
| 58.17 | % | 56.63 | % | 62.98 | % | 57.92 | % | 64.67 | % |
Average equity to average assets |
| 11.32 | % | 10.74 | % | 10.09 | % | 10.69 | % | 10.40 | % |
Net interest margin (a) |
| 4.66 | % | 4.25 | % | 3.94 | % | 4.29 | % | 3.71 | % |
Net charge-offs to average loans and leases |
| 0.18 | % | 0.17 | % | 0.15 | % | 0.18 | % | 0.35 | % |
Credit loss reserve to loans and leases |
| 1.18 | % | 1.20 | % | 1.22 | % | 1.18 | % | 1.22 | % |
Credit loss reserve to nonperforming loans |
| 325.30 | % | 246.14 | % | 351.37 | % | 325.30 | % | 351.37 | % |
Nonperforming loans to loans and leases |
| 0.36 | % | 0.49 | % | 0.35 | % | 0.36 | % | 0.35 | % |
Tier 1 leverage |
| 11.25 | % | 11.05 | % | 10.38 | % | 11.25 | % | 10.38 | % |
Risk-based capital - Tier 1 |
| 13.21 | % | 13.12 | % | 12.43 | % | 13.21 | % | 12.43 | % |
| (a) | Net interest margin is calculated on a tax equivalent basis. |
Asset Quality | | Three Months Ended | | Year Ended | |||||||||||
| | December 31, | | September 30, | | December 31, | | December 31, | | December 31, | |||||
| | 2025 | | 2025 | | 2024 | | 2025 | | 2024 | |||||
Accruing loans and leases past due 30-89 days | | $ | 17,294 | | $ | 14,388 | | $ | 22,486 | | $ | 17,294 | | $ | 22,486 |
Accruing loans and leases past due 90 days or more | | $ | 1,083 | | $ | 1,792 | | $ | 1,821 | | $ | 1,083 | | $ | 1,821 |
Nonaccrual loans and leases | | $ | 13,671 | | $ | 17,470 | | $ | 11,479 | | $ | 13,671 | | $ | 11,479 |
Other real estate owned | | $ | 94 | | $ | 138 | | $ | 523 | | $ | 94 | | $ | 523 |
Nonperforming loans and other real estate owned | | $ | 14,848 | | $ | 19,400 | | $ | 13,823 | | $ | 14,848 | | $ | 13,823 |
Total nonperforming assets | | $ | 17,698 | | $ | 22,243 | | $ | 16,719 | | $ | 17,698 | | $ | 16,719 |
Gross charge-offs | | $ | 3,415 | | $ | 3,226 | | $ | 3,070 | | $ | 12,810 | | $ | 19,289 |
Recoveries | | $ | 1,649 | | $ | 1,600 | | $ | 1,633 | | $ | 5,873 | | $ | 7,082 |
Net charge-offs/(recoveries) | | $ | 1,766 | | $ | 1,626 | | $ | 1,437 | | $ | 6,937 | | $ | 12,207 |
Non-GAAP Reconciliations | | Three Months Ended December 31, | ||||
| | 2025 | | 2024 | ||
($in thousands, except EPS) | | | | | | |
Income before Income Taxes | | $ | 26,357 | | $ | 20,014 |
Provision for credit losses | |
| 2,350 | |
| 2,000 |
Provision for unfunded commitments | |
| 700 | |
| 300 |
Pre-tax, Pre-provision Income | | $ | 29,407 | | $ | 22,314 |
Non-GAAP Reconciliations | | Year Ended December 31, | ||||
| | 2025 | | 2024 | ||
($ in thousands, except EPS) | | | | | | |
Income before Income Taxes | | $ | 98,714 | | $ | 57,154 |
Provision for credit losses | | | 8,200 | | | 16,166 |
Provision for unfunded commitments | | | 800 | | | 100 |
Pre-tax, Pre-provision Income | | $ | 107,714 | | $ | 73,420 |
CONSOLIDATED BALANCE SHEETS
(Dollar amounts in thousands, except per share data)
| | December 31, | | December 31, | ||
| | 2025 | | 2024 | ||
|
| (unaudited) | ||||
ASSETS | | | | | | |
Cash and due from banks | | $ | 130,369 | | $ | 93,526 |
Federal funds sold | |
| 475 | |
| 820 |
Securities available-for-sale | |
| 1,149,526 | |
| 1,195,990 |
Loans: | |
| | |
| |
Commercial | |
| 2,375,344 | |
| 2,196,351 |
Residential | |
| 986,955 | |
| 967,386 |
Consumer | |
| 688,135 | |
| 668,058 |
| |
| 4,050,434 | |
| 3,831,795 |
(Less) plus: | |
| | |
| |
Net deferred loan costs | |
| 4,869 | |
| 5,346 |
Allowance for credit losses | |
| (47,995) | |
| (46,732) |
| |
| 4,007,308 | |
| 3,790,409 |
Restricted stock | |
| 18,536 | |
| 17,555 |
Accrued interest receivable | |
| 27,762 | |
| 26,934 |
Premises and equipment, net | |
| 78,582 | |
| 81,508 |
Bank-owned life insurance | |
| 131,286 | |
| 128,766 |
Goodwill | |
| 98,229 | |
| 100,026 |
Other intangible assets | |
| 16,234 | |
| 21,545 |
Other real estate owned | |
| 94 | |
| 523 |
Other assets | |
| 97,725 | |
| 102,746 |
TOTAL ASSETS | | $ | 5,756,126 | | $ | 5,560,348 |
| | | | | | |
LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| | |
| |
Deposits: | |
| | |
| |
Non-interest-bearing | | $ | 916,473 | | $ | 859,014 |
Interest-bearing: | |
| | |
| |
Certificates of deposit exceeding the FDIC insurance limits | |
| 135,605 | |
| 144,982 |
Other interest-bearing deposits | |
| 3,499,033 | |
| 3,714,918 |
| |
| 4,551,111 | |
| 4,718,914 |
Short-term borrowings | |
| 292,468 | |
| 187,057 |
FHLB advances | |
| 188,208 | |
| 28,120 |
Other liabilities | |
| 73,470 | |
| 77,216 |
TOTAL LIABILITIES | |
| 5,105,257 | |
| 5,011,307 |
| | | | | | |
Shareholders’ equity | |
| | |
| |
Common stock, $.125 stated value per share; | |
| | |
| |
Authorized shares-40,000,000 | |
| | |
| |
Issued shares-16,190,157 in 2025 and 16,165,023 in 2024 | |
| | |
| |
Outstanding shares-11,880,759 in 2025 and 11,842,539 in 2024 | |
| 2,021 | |
| 2,018 |
Additional paid-in capital | |
| 147,442 | |
| 145,927 |
Retained earnings | |
| 741,793 | |
| 687,366 |
Accumulated other comprehensive income/(loss) | |
| (86,681) | |
| (132,285) |
Less: Treasury shares at cost-4,309,398 in 2025 and 4,322,484 in 2024 | |
| (153,706) | |
| (153,985) |
TOTAL SHAREHOLDERS’ EQUITY | |
| 650,869 | |
| 549,041 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | | $ | 5,756,126 | | $ | 5,560,348 |
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(Dollar amounts in thousands, except per share data)
| | Year Ended | |||||||
| | December 31, | |||||||
| | 2025 | | 2024 |
| 2023 | |||
| | (unaudited) | |||||||
INTEREST INCOME: | | | | | | | | | |
Loans, including related fees | | $ | 267,795 | | $ | 226,262 | | $ | 189,641 |
Securities: | |
| | |
| | |
| |
Taxable | |
| 23,822 | |
| 24,237 | |
| 24,643 |
Tax-exempt | |
| 10,650 | |
| 10,533 | |
| 10,573 |
Other | |
| 3,321 | |
| 3,710 | |
| 3,540 |
TOTAL INTEREST INCOME | |
| 305,588 | |
| 264,742 | |
| 228,397 |
INTEREST EXPENSE: | |
| | |
| | |
| |
Deposits | |
| 72,433 | |
| 81,071 | |
| 51,694 |
Short-term borrowings | |
| 6,502 | |
| 4,284 | |
| 5,370 |
Other borrowings | |
| 6,785 | |
| 4,401 | |
| 4,071 |
TOTAL INTEREST EXPENSE | |
| 85,720 | |
| 89,756 | |
| 61,135 |
NET INTEREST INCOME | |
| 219,868 | |
| 174,986 | |
| 167,262 |
Provision for credit losses | |
| 8,200 | |
| 16,166 | |
| 7,295 |
NET INTEREST INCOME AFTER PROVISION | |
| | |
| | |
| |
FOR LOAN LOSSES | |
| 211,668 | |
| 158,820 | |
| 159,967 |
NON-INTEREST INCOME: | |
| | |
| | |
| |
Trust and financial services | |
| 5,777 | |
| 5,468 | |
| 5,155 |
Service charges and fees on deposit accounts | |
| 31,388 | |
| 29,653 | |
| 28,079 |
Other service charges and fees | |
| 1,097 | |
| 999 | |
| 801 |
Securities gains/(losses), net | |
| (4,600) | |
| 103 | |
| (1) |
Interchange income | |
| 755 | |
| 655 | |
| 676 |
Loan servicing fees | |
| 1,170 | |
| 1,259 | |
| 1,176 |
Gain on sales of mortgage loans | |
| 1,453 | |
| 1,153 | |
| 966 |
Other | |
| 4,932 | |
| 3,482 | |
| 5,850 |
TOTAL NON-INTEREST INCOME | |
| 41,972 | |
| 42,772 | |
| 42,702 |
NON-INTEREST EXPENSE: | |
| | |
| | |
| |
Salaries and employee benefits | |
| 79,132 | |
| 74,555 | |
| 68,525 |
Occupancy expense | |
| 10,455 | |
| 9,616 | |
| 9,351 |
Equipment expense | |
| 19,000 | |
| 17,612 | |
| 14,020 |
FDIC Expense | |
| 2,845 | |
| 2,788 | |
| 2,907 |
Other | |
| 43,494 | |
| 39,867 | |
| 35,373 |
TOTAL NON-INTEREST EXPENSE | |
| 154,926 | |
| 144,438 | |
| 130,176 |
INCOME BEFORE INCOME TAXES | |
| 98,714 | |
| 57,154 | |
| 72,493 |
Provision for income taxes | |
| 19,506 | |
| 9,879 | |
| 11,821 |
NET INCOME | |
| 79,208 | |
| 47,275 | |
| 60,672 |
OTHER COMPREHENSIVE INCOME (LOSS) | |
| | |
| | |
| |
Change in unrealized gains/(losses) on securities, net of reclassifications and taxes | |
| 44,449 | |
| (9,807) | |
| 10,896 |
Change in funded status of post retirement benefits, net of taxes | |
| 1,155 | |
| 4,609 | |
| 1,991 |
COMPREHENSIVE INCOME (LOSS) | | $ | 124,812 | | $ | 42,077 | | $ | 73,559 |
PER SHARE DATA | |
| | |
| | |
| |
Basic and Diluted Earnings per Share | | $ | 6.68 | | $ | 4.00 | | $ | 5.08 |
Weighted average number of shares outstanding (in thousands) | |
| 11,852 | |
| 11,812 | |
| 11,937 |