8-K
FIRST FINANCIAL CORP /IN/ (THFF)
8-K
2026-01-30
For: 2026-01-30
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April 04, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 30, 2026
FIRST FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Commission File Number: 0-16759
| Indiana | 35-1546989 | |
|---|---|---|
| (State or other jurisdiction | (I.R.S. Employer | |
| incorporation or organization) | Identification No.) | |
| | | |
| One First Financial Plaza, Terre Haute, IN | 47807 | |
| (Address of principal executive office) | (Zip Code) | |
| | | |
| (812) 238-6000 | | |
| (Registrant's telephone number, including area code) |
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:
**☐**Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
**☐**Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
**☐**Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | | Trading Symbol | | Name of each exchange on which registered |
|---|---|---|---|---|
| Common Stock, par value $0.125 per share | | THFF | | The NASDAQ Stock Market LLC |
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).
Emerging growth company ☐
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 7.01. Regulation FD Disclosure.
Norman D. Lowery, President and Chief Executive Officer, Rodger A. McHargue, Senior Vice President and Chief Financial Officer, and Steve Panagouleas, Senior Vice President and Chief Credit Officer, of First Financial Corporation, Inc. will participate in the 2026 Janney CEO Forum being held February 4 – February 5, 2026.
Attached as Exhibit 99.1 is the information that will be provided to meeting participants. Such information is incorporated herein by reference.
The foregoing information is being furnished pursuant to this Item 7.01 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 | | First Financial Corporation, Inc. Presentation dated January 30, 2026. |
| 104 | | Cover Page Interactive Data File (formatted in 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 January 30, 2026 | |
| | /s/ Rodger A. McHargue |
| | Rodger A. McHargue |
| | Secretary/Treasurer and Chief Financial Officer |
Exhibit 99.1
| : THFF |
|---|
| Forward-looking Information<br>This presentation contains future oral and written statements of the Company and its management, forward-looking statements within the meaning of the<br>Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and<br>business of the Company. Forward-looking statements are generally identifiable by the use of words such as “believe”, “expect”, “anticipate”, “estimate”,<br>“could”, and other similar expressions. All statements in this presentation, including forward-looking statements, speak only as of today’s date, and the<br>Company undertakes no obligation to update any statement in light of new information or future events.<br>A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its<br>forward-looking statements. Additional information is included in the Company’s filings with the Securities and Exchange Commission.<br>Factors that could have a material adverse effect on the Company’s financial condition, results of operations and future prospects can be found in the “Risk<br>Factors” section in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and elsewhere in the Company’s periodic and current<br>reports filed with the Securities and Exchange Commission.<br>These factors include, but are not limited to, the effects of future economic, business and market conditions and changes, domestic and foreign, including<br>competition, governmental policies and seasonality; legislative and regulatory changes, including changes in banking, securities and tax laws and regulations<br>and their application by Company regulators, and changes in the scope and cost of FDIC insurance and other coverages; the risks of changes in interest<br>rates on the levels, composition and costs of deposits, loan demand and other interest sensitive assets and liabilities; the failure of assumptions and<br>estimates underlying the establishment of reserves for possible loan losses, analysis of capital needs and other estimates; changes in borrowers’ credit risks<br>and payment behaviors; and changes in the availability and cost of credit and capital.<br>2 2 |
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| Norman D. Lowery<br>President & Chief Executive Officer<br>Rodger A. McHargue<br>Chief Financial Officer, SVP<br>Stephen P. Panagouleas<br>Chief Credit Officer, SVP<br>33 |
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| Illinois<br>26 Banking Centers<br>Indiana<br>22 Banking Centers<br>4 Loan Offices<br>Kentucky<br>16 Banking Centers<br>1 Loan Office<br>Tennessee<br>19 Banking Centers<br>4 Loan Offices<br>First Financial Corporation<br>Indiana’s first multi-bank holding company<br>Established 1984<br>95 Locations<br>86 full-service banking centers<br>9 loan production offices<br>$5.6 Billion in Assets<br>$2.2 Billion<br>Trust andAssets Under Management<br>First Financial Bank<br>Primary subsidiary founded in 1834<br>Oldest national bank in Indiana<br>5th oldest national bank in the U.S.<br>Terre Haute, Indiana<br>Headquarters<br>Georgia<br>3 Banking Centers<br>4<br>Illinois<br>26 Banking Centers<br>Indiana<br>22 Banking Centers<br>4 Loan Offices<br>Kentucky<br>16 Banking Centers<br>1 Loan Office<br>Tennessee<br>19 Banking Centers<br>4 Loan Offices<br>Georgia<br>3 Banking Centers<br>4 |
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| Best Bank<br>Tribune-Star Readers’ Choice<br>Top 50<br>Best U.S. Bank<br>Bank Director Magazine<br>Our Vision<br>To be the foundation of community prosperity and trust<br>for generations to come.<br>Our Mission<br>Empowering you with secure and innovative financial solutions<br>focusing on quality of life.<br>Our Values<br>Start with SOUNDNESS<br>The strongest foundation for success is based on experience and stability.<br>Prioritize GROWTH<br>Avoiding complacency with a focus on continuous improvement.<br>Deliver VALUE<br>Solve for every client need.<br>Find the SOLUTION<br>Get the job done, obstacles are not excuses, they are opportunities.<br>Be ACCOUNTABLE<br>Set ambitious goals and communicate transparently.<br>Build COMMUNITY<br>Foster a culture of respect, belonging, & support, internally and externally.<br>5-Star Rating<br>BauerFinancial<br>5<br>Best Ag Lender<br>Pennyrile's Best Magazine<br>5 |
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| TBV<br>$27.11 $28.84 $30.94 $30.83 $33.16 $34.08<br>$37.57 $38.67<br>$31.66<br>$36.80 $35.73<br>$45.05<br>$20.00<br>$10.00<br>$0.00<br>2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025<br>$30.00<br>$40.00<br>$50.00<br>Strong Capital<br>Key Capital Ratios<br>and Per Share Data<br>As of December 31, 2025<br>11.86% 12.51% 12.80% 12.74% 13.69%<br>11.91% 11.40%<br>9.62%<br>7.79% 9.15%<br>7.78%<br>9.49%<br>17.50%<br>14.00%<br>10.50%<br>7.00%<br>3.50%<br>0.00%<br>2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025<br>TCE<br>Total Risk Based 14.22%<br>Tier 1 Risk Based 13.21%<br>Tier 1 Leverage 11.25%<br>Book Value $54.69<br>Tangible Book Value $45.05<br>6 6 |
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| $2.55 $2.35<br>$3.12<br>$3.80 $3.80 $3.93 $4.02<br>$5.82<br>$5.08<br>$4.00<br>$6.68<br>$0.97 $0.98 $0.99<br>$2.50<br>$2.38<br>$1.02 $1.02 $1.04 $1.06 $1.17 $1.28<br>$1.80 $2.04<br>$0.00<br>$1.50<br>$3.00<br>$4.50<br>$6.00<br>$7.50<br>2014 2015 2016 2017 2018 2019 2020<br>Dividends Paid<br>2021 2022 2023 2024 2025<br>Earnings and Dividends Per Share<br>EPS<br>History of Earnings and Dividend Growth<br>7 7 |
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| Announced Repurchase<br>Amount Shares Amount Completed<br>April 21, 2022 10% 1,243,531 In Progress **<br>July 21, 2021 5% 652,411 $28,335,713 3/4/22<br>October 29, 2020 5% 685,726 $29,300,476 6/25/21<br>February 3, 2016 5% 637,500 $21,677,750 11/30/20<br>August 25, 2014 5% 667,700 $21,627,262 8/19/15<br>**As of 12/31/2025 purchased 724,671 for $29,132,283. 518,860 shares remain.<br>History of Shares Repurchases<br>8 8 |
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| FFIEC BHC UBPR Data FFIEC BHC UBPR Data<br>1.30<br>0.98<br>Return on Assets<br>1.56<br>1.10<br>1.42 1.41<br>1.25 1.26<br>0.92<br>1.39<br>0.92 0.95<br>1.22 1.19<br>0.97<br>1.25<br>1.17 0.95<br>0.92<br>1.09<br>'-<br>2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q25<br>FFC Peer<br>Betterthan Peer Performance<br>Non-interestIncome % AvgAssets<br>1.61<br>1.22<br>1.32<br>1.12<br>1.00<br>0.88<br>0.93 0.89 0.87<br>0.91 0.93 0.90 0.90 0.98<br>0.94<br>0.78 0.72 0.74<br>0.86<br>0.77<br>'-<br>2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q25<br>FFC Peer<br>9 9 |
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| Net Interest Income<br>LoanGrowthDrivingGrowthin Income<br>$107,857<br>$131,652<br>$146,346 $143,401<br>$165,042 $167,262 $174,986<br>$219,868<br>4.11%<br>$116,579<br>4.32% 4.25%<br>4.05%<br>3.20%<br>3.55%<br>3.78% 3.71%<br>4.29%<br>2.00%<br>3.00%<br>4.00%<br>5.00%<br>6.00%<br>$0<br>$42,500<br>$85,000<br>$127,500<br>$170,000<br>$212,500<br>$255,000<br>2017 2018 2019 2020 2021 2022 2023 2024 2025<br>NII NIM<br>$’s in (000’s)<br>10 10 |
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| Balance ($000) Commercial Loans By State<br>Total $4,055,304<br>Diversified Loan Portfolio<br>As of12/31/2025<br>Loan Portfolio<br>Commercial<br>71.59%<br>Consumer<br>21.18%<br>Residential<br>7.24%<br>Commercial<br>$2,903,062 Consumer<br>$858,822<br>Residential<br>$293,420<br>IN<br>44.79%<br>11<br>IL<br>7.63%<br>KY<br>9.91%<br>TN<br>26.24%<br>GA<br>1.65%<br>Other<br>9.77%<br>Balance ($000) Commercial Loans By State<br>Total $4,055,304<br>Diversified Loan Portfolio<br>As of12/31/2025<br>Loan Portfolio<br>Commercial<br>71.59%<br>Consumer<br>21.18%<br>Residential<br>7.24%<br>Commercial<br>$2,903,062 Consumer<br>$858,822<br>Residential<br>$293,420<br>IN<br>44.79%<br>11<br>IL<br>7.63%<br>KY<br>9.91%<br>TN<br>26.24%<br>GA<br>1.65%<br>Other<br>9.77%<br>11 |
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| FFIEC BHC UBPR Data (Except 4Q25)<br>0.046%<br>Net Charge-offs<br>0.144%<br>0.115%<br>0.033%<br>0.045% 0.041% 0.038% 0.041%<br>0.00%<br>0.04%<br>0.08%<br>0.11%<br>0.15%<br>'-<br>800<br>1,600<br>2,400<br>3,200<br>4,000<br>4,800<br>5,600<br>1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25<br>Dollar ($000) % Total Loans<br>$40,045<br>$38,334<br>$46,169 $46,732 $46,835 $47,087 $47,412 $47,995<br>1.26%<br>1.20%<br>1.24%<br>1.22% 1.21% 1.21%<br>1.20%<br>1.18%<br>1.10%<br>1.15%<br>1.20%<br>1.25%<br>1.30% 47,500<br>46,250<br>45,000<br>43,750<br>42,500<br>41,250<br>40,000<br>38,750<br>37,500<br>36,250<br>35,000<br>1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25<br>Amount ($000) % Total Loans<br>Reserves / Loans<br>Non-Performing Assets<br>Strong Asset Quality<br>$27,307<br>$18,978<br>$17,179 $16,719<br>$13,834<br>$22,243<br>$17,698 0.500%<br>0.390%<br>0.310% 0.300%<br>0.250% 0.230%<br>$14,486 0.390%<br>0.310%<br>0.00%<br>0.10%<br>0.20%<br>0.40%<br>0.30%<br>0.50%<br>0.80%<br>0.70%<br>0.60%<br>27,500<br>25,000<br>22,500<br>20,000<br>17,500<br>15,000<br>12,500<br>10,000<br>7,500<br>1Q24 2Q24 3Q24 4Q24 1Q25<br>NPA ($,000)<br>2Q25 3Q25 4Q25<br>NLA/Total Assets (%)<br>Non-Performing Loans<br>$24,252<br>$15,916<br>$14,134<br>$10,372 $9,795 $10,262<br>$14,754<br>0.760%<br>0.500%<br>0.380% 0.360%<br>0.270% 0.250% $13,615<br>0.490%<br>0.360%<br>0.10%<br>0.00%<br>0.30%<br>0.20%<br>0.50%<br>0.40%<br>0.70%<br>0.60%<br>27,500 0.80%<br>25,000<br>22,500<br>20,000<br>17,500<br>15,000<br>12,500<br>10,000<br>7,500 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25<br>NPL ($,000) NPL/Total Loans (%)<br>12<br>FFIEC BHC UBPR Data (Except 4Q25)<br>12 |
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| Total Portfolio Loan Growth<br>StrongGrowthStrategyDrivingResults<br>$1,953,988<br>$2,656,390 $2,610,294<br>$2,815,895<br>$3,167,821<br>$3,067,438<br>$3,836,717<br>$4,055,303<br>35.95%<br>-1.74%<br>7.88% 8.93%<br>3.27%<br>21.12%<br>5.70%<br>-10.00%<br>-5.00%<br>0.00%<br>5.00%<br>10.00%<br>15.00%<br>20.00%<br>25.00%<br>30.00%<br>35.00%<br>40.00%<br>45.00%<br>500,000<br>1,000,000<br>1,500,000<br>2,000,000<br>2,500,000<br>3,000,000<br>3,500,000<br>4,000,000<br>4,500,000<br>2018 2019 * 2020 2021 *<br>Portfolio Balance<br>2022 2023 2024 * 2025<br>Growth Rate<br>7 Yr. CAGR = 10.994%<br>$’s in (000’s)<br>* Acquisition Years<br>13 13 |
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| Total Loans $858,821,638<br>Average Portfolio Yield of 8.09%<br>97.56% Secured Consumer Loans<br>71.05% ≥ 700 FICO<br>19.47% ≥ 650 to 699<br>7.65% ≥ 600 to 650<br>1.84% < 600 & No Score<br>Average Portfolio Yield of 8.18%<br>67.95% Indirect Auto ($583,594,243)<br>14.45% New ($84,341,806)<br>85.55% Used ($499,252,437)<br>Asset Quality<br>30 – 89 day YTD Average<br>Past Due 1.21% (Total YTD Ave. = 1.38%)<br>Consumer Loan Portfolio<br>As of12/31/2025<br>$167,001,076<br>Home Equity<br>19.45%<br>14<br>$88,247,938<br>Direct Auto<br>10.28%<br>$583,594,243<br>Indirect Auto<br>67.95%<br>$13,722,142<br>Other<br>1.60%<br>$6,256,239<br>Credit Card<br>0.73%<br>14 |
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| Mortgage Loan Portfolio<br>As of12/31/2025<br>Total Loans $293,419,673<br>52.16% YTD Production is Sold<br>• $54.2 Million YTD New Production Sold<br>• Average New Production LTV 78.03%<br>• Average New Production FICO Score 736<br>• Average New Production DTI 35.81%<br>• Average Loan Amount is $196,652<br>• Average New Production Interest Rate of 6.733%<br>47.84% YTD Production is Portfolio<br>• Underwritten to FHLMC Guidelines<br>• $49.7 Million YTD New Production<br>• Average New Production LTV 76.72%<br>• Average New Production FICO Score 732<br>• Average New Production DTI 35.15%<br>• Average Loan Amount of $310,933<br>• Average New Production Interest Rate of 6.894%<br>• Average Total Portfolio Yield 5.82% (5.70% at 12/31/24)<br>Asset Quality<br>• YTD average past due 1.56%<br>$109,037,370<br>Fixed Rate<br>37.16%<br>Ave. Yield of 5.34%<br>15<br>$184,382,303<br>Adjustable Rate<br>62.84%<br>Ave. Yield of 6.03%<br>Mortgage Portfolio by Type<br>15 |
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| Commercial Portfolio Yield Analysis<br>WellPositionedForContinuedYieldExpansion<br>$275,378<br>$278,771<br>$315,614<br>$33,828<br>$49,443<br>$37,960<br>$201,454<br>$157,100<br>$169,454<br>$289,230 6.752%<br>6.061%<br>6.404%<br>4.963%<br>5.648%<br>5.508%<br>5.209%<br>6.423%<br>6.657%<br>6.301%<br>4.000%<br>4.250%<br>4.500%<br>4.750%<br>5.000%<br>5.250%<br>5.500%<br>5.750%<br>6.000%<br>6.250%<br>6.500%<br>6.750%<br>7.000%<br>7.250%<br>7.500%<br>7.750%<br>8.000%<br>25,000<br>75,000<br>125,000<br>175,000<br>225,000<br>275,000<br>325,000<br>375,000<br>Variable <1 Mo.<br>Adjustable<br>1Q26 2Q26 3Q26<br>Balance Adjusting (000's)<br>4Q26 2027 2028 2029 2030+<br>Balance Yield<br>Q4/2025 New Loan Rate = 6.410%<br>16<br>Adjustable-RatePortfolio<br>16 |
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| Commercial Portfolio Yield Analysis (Cont.)<br>WellPositionedForContinuedYieldExpansion<br>$71,630 $66,657<br>$40,412<br>$73,983<br>$174,523<br>$196,432<br>$156,416<br>$299,962<br>5.247%<br>4.634%<br>5.963%<br>4.700% 5.119%<br>6.304%<br>6.646%<br>5.465%<br>4.000%<br>4.250%<br>4.500%<br>4.750%<br>5.000%<br>5.250%<br>5.500%<br>5.750%<br>6.000%<br>6.250%<br>6.500%<br>6.750%<br>7.000%<br>30,000<br>55,000<br>80,000<br>105,000<br>130,000<br>155,000<br>180,000<br>205,000<br>230,000<br>255,000<br>280,000<br>305,000<br>1Q26 2Q26 3Q26 4Q26<br>Balance Due (000's)<br>2027 2028 2029 2030+<br>Balance Yield<br>Fixed Rate Maturities<br>17<br>Q4/2025 New Loan Rate = 6.372%<br>17 |
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| Residential/Multi-Family<br>38.75%<br>Commercial Income Property<br>29.81%<br>NOO Retail/Restaurants<br>10.80%<br>Hotels and Motels<br>5.33%<br>Residential & Non-Residential Property Managers<br>3.72%<br>Lessors of Other Real Estate Property<br>7.20%<br>Mini-warehouses/Self Storage<br>2.40%<br>Single Family Housing/Subdivisions<br>1.01%<br>Land Development<br>0.99%<br>Commercial Real Estate Loan Mix<br>As a % ofCRE(PeriodEnded12/31/2025)<br>18<br>Residential/Multi-family $641,628,282<br>Commercial Income Property $493,582,382<br>NOO Retail / Restaurants $178,817,656<br>Lessors of Other Real<br>Estate Property $119,163,179<br>Hotel/Motel $88,318,571<br>Residential & Non-Residential<br>Property Management $61,595,602<br>Mini-warehouse/Self-Storage $39,669,345<br>Single Family Housing $16,699,625<br>Land Development $16,400,102<br>Total $1,655,874,744<br>Residential/Multi-Family<br>38.75%<br>Commercial Income Property<br>29.81%<br>NOO Retail/Restaurants<br>10.80%<br>Hotels and Motels<br>5.33%<br>Residential & Non-Residential Property Managers<br>3.72%<br>Lessors of Other Real Estate Property<br>7.20%<br>Mini-warehouses/Self Storage<br>2.40%<br>Single Family Housing/Subdivisions<br>1.01%<br>Land Development<br>0.99%<br>Commercial Real Estate Loan Mix<br>As a % ofCRE(PeriodEnded12/31/2025)<br>18<br>Residential/Multi-family $641,628,282<br>Commercial Income Property $493,582,382<br>NOO Retail / Restaurants $178,817,656<br>Lessors of Other Real<br>Estate Property $119,163,179<br>Hotel/Motel $88,318,571<br>Residential & Non-Residential<br>Property Management $61,595,602<br>Mini-warehouse/Self-Storage $39,669,345<br>Single Family Housing $16,699,625<br>Land Development $16,400,102<br>Total $1,655,874,744<br>18 |
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| Agriculture<br>21.885%<br>Construction<br>8.085%<br>Health Services<br>6.936%<br>Banking & Financial Services<br>3.276%<br>Floor Plan & Auto Industry<br>3.203%<br>Real Estate Activites 6.163%<br>Retail Eating Establishments<br>1.519%<br>Other Retail+Convenience<br>5.332%<br>Transportation & Utilities<br>6.166%<br>Manufacturing<br>4.867%<br>Personal Services<br>14.559%<br>Government Entities<br>7.236%<br>Forestry,<br>Oil/Gas…<br>Religious Organizations<br>0.987%<br>Amusement & Recreation<br>2.252%<br>Wholesale Distribution<br>4.631%<br>All All Other 2.169%<br>Commercial & Industrial Loan Mix<br>As a % ofTotal C & I Loans(PeriodEnded12/31/2025)<br>19<br>Agriculture $269,633,409<br>Personal Services $179,366,996<br>Construction $99,610,927<br>Government Entities $89,152,666<br>Health Services $85,450,345<br>Transportation & Utilities $75,971,308<br>Real EstateActivities $75,930,232<br>Other Retail + Convenience $65,692,488<br>Manufacturing $59,964,760<br>Wholesale Distribution $57,053,021<br>Banking & Financial Services $40,359,433<br>Floor Plans & Auto Industry $39,468,046<br>Amusement & Recreation $27,746,798<br>Retail Eating Establishments $18,719,659<br>Religious Organizations $12,164,595<br>Forestry, Oil, Gas & Energy $9,039,023<br>All Other (Including Private HH) $26,719,179<br>Total $1,232,042,885<br>19 |
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| Commercial Production Pipeline<br>As of12/31/2025<br>Region Pipeline New Money<br>Central $156,981,273 $45,119,856<br>West $137,198,346 $41,150,931<br>Southern $229,543,999 $141,658,993<br>Mid-South $570,939,769 $200,278,780<br>Indy / Ft. Wayne<br>LPO $282,931,271 $128,400,039<br>East TN $68,935,208 $9,207,476<br>Total $1,446,529,866 $565,816,075<br>YE 12/31/2024 $1,185,605,000 $837,486,000<br>Production YTD Current Pipeline Dollars<br>Region<br>Term<br>Production<br>Line<br>Production<br>Central $79,926,842 $24,119,250<br>West $44,793,638 $18,357,054<br>Southern $131,935,420 $53,830,301<br>Mid-South $168,140,719 $48,452,402<br>Indy / Ft. Wayne<br>LPO $122,598,394 $2,778,454<br>East TN $58,534,462 $60,759,070<br>Total $605,959,776 $208,296,531<br>YE 12/31/2024 $624,749,192 $107,547,797<br>State Pipeline $<br>Indiana $300,189,157<br>Illinois $12,149,292<br>Kentucky $53,239,955<br>Tennessee $129,867,103<br>Other $70,370,208<br>Total $565,816,075<br>Current New Money<br>Pipeline Dollars by State<br>20<br>Commercial Production Pipeline<br>As of12/31/2025<br>Region Pipeline New Money<br>Central $156,981,273 $45,119,856<br>West $137,198,346 $41,150,931<br>Southern $229,543,999 $141,658,993<br>Mid-South $570,939,769 $200,278,780<br>Indy / Ft. Wayne<br>LPO $282,931,271 $128,400,039<br>East TN $68,935,208 $9,207,476<br>Total $1,446,529,866 $565,816,075<br>YE 12/31/2024 $1,185,605,000 $837,486,000<br>Production YTD Current Pipeline Dollars<br>Region<br>Term<br>Production<br>Line<br>Production<br>Central $79,926,842 $24,119,250<br>West $44,793,638 $18,357,054<br>Southern $131,935,420 $53,830,301<br>Mid-South $168,140,719 $48,452,402<br>Indy / Ft. Wayne<br>LPO $122,598,394 $2,778,454<br>East TN $58,534,462 $60,759,070<br>Total $605,959,776 $208,296,531<br>YE 12/31/2024 $624,749,192 $107,547,797<br>State Pipeline $<br>Indiana $300,189,157<br>Illinois $12,149,292<br>Kentucky $53,239,955<br>Tennessee $129,867,103<br>Other $70,370,208<br>Total $565,816,075<br>Current New Money<br>Pipeline Dollars by State<br>20<br>20 |
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| Strong Core Deposit Franchise<br>Deposit Mix<br>Cost of Deposits<br>0.16 0.23 0.32 0.50 0.32 0.18 0.38 1.32 1.84 1.64<br>0.45 0.54<br>0.75<br>0.95<br>0.54<br>0.20<br>0.47<br>1.81<br>2.35<br>2.10<br>'-<br>0.40<br>0.80<br>1.20<br>1.60<br>2.00<br>2.40<br>2.80<br>2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q25<br>BHC UBPR Interest Expense<br>FFC Peer<br>FFIEC BHC UBPR Data<br>Brokered CDs<br>0.0%<br>Average account tenure 13.5 years<br>Estimated uninsured deposits as 35.7% of total deposits<br>Estimated uninsured less collateralized as 18.9% total deposits<br>Cycle to Date Deposit Beta: 21.43% total deposits<br>0.17% 0.25%<br>0.37%<br>0.56%<br>0.36%<br>0.20%<br>0.38%<br>1.26%<br>1.84%<br>1.56%<br>0.00%<br>0.45%<br>0.90%<br>1.35%<br>1.80%<br>2.25%<br>2016 2017 2018 2019 2020 2021 2022 2023 2024 2025<br>Non-interest<br>bearing<br>20.14%<br>21<br>Demand &<br>Savings<br>64.39%<br>Time<br>15.47%<br>21 |
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| $90,308$88,747$91,289<br>$104,348<br>$112,75$8117,406<br>$126,02$3130,176<br>$144,438<br>$154,926<br>0<br>32500<br>65000<br>97500<br>130000<br>162500<br>195000<br>2016 2017 2018 2019 2020 2021 2022 2023 2024 2025<br>59.4<br>61.62<br>58.43<br>61.23 59.87<br>63.33<br>59.51<br>62.<br>66.36<br>59.49<br>68.42<br>62.21<br>61.22 61.65 61.22 60.88<br>59.89<br>64.78<br>65.85<br>62.08<br>45.0<br>51.0<br>57.0<br>63.0<br>69.0<br>75.0<br>2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q25<br>FFC Peer<br>FFIEC BHC UBPR Data<br>Non-interest Expense Efficiency<br>Acquired HopFed Bancorp on 7/27/2019<br>Acquired Hancock Bancorp on 11/5/2021<br>Acquired SimplyBank on 7/1/2024<br>Disciplined Expense Management<br>22 22 |
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| $2.2 Billion TrustAssets<br>Under Management<br>Trust Services include:<br>• Professional Farm Management<br>• TrustAdministration<br>• EstateAdministration<br>• Retirement Services<br>• Corporate Trust Services<br>Trust & Asset<br>Management 2024 2025<br>Revenue ($000) 5,468 5,393<br>Income before Tax 1,777 2,329<br>Trust and Asset Management<br>23 23 |
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| Well-positioned for sustainable and profitable growth<br>• Diversified business model with strong risk management<br>• High-caliber team members focused on customer service<br>and technology optimization<br>• Expanding presence in larger growth markets<br>• Commercial banking focus with quality core deposits<br>• Demonstrated ability to successfully complete mergers<br>and acquisitions<br>• Unblemished track record of delivering shareholder value<br>• Over 30 consecutive years of increased shareholder dividends<br>Key Investment Points<br>24 24 |
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| 2021 2022 2023 2024 2025<br>Net Interest Income 143,401 165,042 167,262 174,986 219,868<br>Provision 2,466 <2,025> 7,295 16,166 8,200<br>Non-interest Income 42,084 46,716 42,702 42,772 41,972<br>Non-interest Expense 117,406 126,023 130,176 144,438 154,926<br>Net Income 52,987 71,109 60,672 47,275 79,208<br>Earnings Per Share (diluted) 4.02 5.82 5.08 4.00 6.68<br>Total Assets 5,175,099 4,989,281 4,851,614 5,561,786 5,756,508<br>Net Interest Margin 3.20 3.54 3.78 3.71 4.29<br>Return on Average Assets 1.10 1.41 1.26 0.92 1.42<br>Return on Average Equity 8.87 14.37 12.47 8.82 13.30<br>Dollars in millions except per share data<br>5-Year Financial Highlights<br>25 25 |
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| Norman D. Lowery<br>President and CEO<br>lowerynd@first-online.com<br>812.238.6185<br>Rodger A. McHargue<br>Chief Financial Officer, SVP<br>rmchargue@first-online.com<br>812.238.6334<br>Stephen P. Panagouleas<br>Chief Credit Officer, SVP<br>spanagouleas@first-online.com<br>812.238.6431<br>Thank You!<br>: THFF |
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