First Financial Bank
{{short description|U.S. financial services company}}
{{About|the Terre Haute, Indiana-based bank|the Cincinnati-based bank|First Financial Bank (Ohio)|the Abilene, Texas-based bank|First Financial Bank (Texas)}}
{{Use mdy dates|date=November 2022}}
{{Infobox company
| name = First Financial Corporation
| logo = FirstFinancialBank-TerreHaute.jpg
| trade_name = First Financial Bank
| type = Public
| traded_as = {{NASDAQ|THFF}}
Russell 2000 Component
| foundation = {{start date and age|1834}} (as the Terre Haute branch of the Second State Bank of Indiana)
| location = Terre Haute, Indiana, US
| key_people = Norman L. Lowery (vice chairman & CEO)
| num_employees = More than 2000 (2010){{cite web| title=First Financial Bank Corporate Profile| publisher=SNL Financial| url=http://www.snl.com/irweblinkx/corporateprofile.aspx?iid=100502|accessdate=2010-06-23}}
| industry = Finance
| products = Financial services
| revenue =
| area_served = Indiana, Illinois, Kentucky, Tennessee
| homepage = {{URL|first-online.bank}}
}}
First Financial Bank is a regional bank operated by First Financial Corporation and based in Terre Haute, Indiana. It is the oldest national bank in Indiana and the fifth oldest national bank in the United States.{{cite news |url=https://www.tribstar.com/news/business_news/first-financial-bank-named-one-of-world-s-top-1-000/article_7fa3840e-c0b3-5374-97c0-bc86fd5520b0.html |title=First Financial Bank named one of world’s top 1,000 |date=August 21, 2011 |newspaper=Terre Haute Tribune-Star}} First Financial Corporation is Vigo County's only publicly traded company.
History
The bank was founded in 1834 as a branch of the Second State Bank of Indiana and later became known as Terre Haute First National Bank. In 1983, First Financial Corporation was established as the bank's holding company, and in August 1984 it became Indiana's first multi-bank holding company. After mergers and acquisitions, the various banks affiliated as First Financial Bank in 2003.{{citation needed|date=November 2022|reason=Although most likely true, this paragraph need multiple citations.}}
For most of its existence, First Financial operated largely in the Indiana and Illinois counties around Terre Haute, but two recent mergers greatly expanded the corporation's footprint into Kentucky.
As a result of the mergers in 2019 and 2021, First Financial Bank now operates banking centers and loan production offices in Indiana, Illinois, Kentucky and Tennessee.
=Indiana=
In September 2021, First Financial Corporation announced on September 27 that The Morris Plan Company of Terre Haute, long a subsidiary of the company, would be merged into First Financial Bank, effective December 31, 2021.{{Cite news |last=Greninger |first=Howard |date=September 27, 2021 |title=TH First Financial Corp. merges with The Morris Plan |url=https://www.tribstar.com/news/local_news/th-first-financial-corp-merges-with-the-morris-plan/article_4d23f603-61a7-5af4-b81c-0b714d7baab1.html |access-date=September 28, 2021 |newspaper=Terre Haute Tribune-Star}}
=Illinois=
In October 2011, First Financial Corporation announced the pending acquisition of the Pontiac-based PNB Holding Company with its only subsidiary, the Freestar Bank, which has 13 offices in Central Illinois.{{cite news |url=https://www.pontiacdailyleader.com/story/news/2011/10/12/first-financial-to-acquire-freestar/63477976007/ |title=First Financial to acquire Freestar |first=Lois |last=Westermeyer |date=October 12, 2011 |newspaper=Pontiac Daily Leader}}
In March 2013, First Financial Corp. acquired 9 branch offices in central and southern Illinois from Bank of America.{{cite news |url=https://www.retailbankerinternational.com/news/bank-of-america-to-sell-9-of-its-branches-to-first-financial-bank/ |title=Bank of America to sell nine of its branches to First Financial Bank |date=March 20, 2013 |first=Stephen |last=Little |work=Retail Banker International}}
=Kentucky=
On July 29, 2019, First Financial Corporation announced completion of its merger with HopFed Bancorp, Inc. (HFBC) and the merger of First Financial Bank with HFBC’s wholly owned subsidiary, Heritage Bank USA, based in Hopkinsville.{{Cite press release |url=https://www.globenewswire.com/news-release/2019/07/29/1892904/0/en/First-Financial-Corporation-and-HopFed-Bancorp-Announce-Completion-of-Merger-Transaction.html |title=First Financial Corporation and HopFed Bancorp Announce Completion of Merger Transaction |date=July 29, 2019 |work=First Financial Corporation |via=GlobeNewswire}}{{cite news |url=https://www.tribstar.com/news/local_news/first-financial-acquires-hopfed-bancorp-including-heritage-bank/article_93dbcd50-6212-59a2-8508-fdd92eef102a.html |title=First Financial acquires HopFed Bancorp., including Heritage Bank |date=July 29, 2019 |newspaper=Terre Haute Tribune-Star}}
In August 2021, First Financial Bank announced that it was acquiring Hancock Bank & Trust, a longtime community bank based in Hawesville.{{cite web |url=https://www.retailbankerinternational.com/news/first-financial-to-acquire-hancock-for-31-35m/ |title=First Financial to acquire Hancock Bank & Trust Company for $31.35m |date=August 11, 2021 |work=Retail Banker International}}{{cite web |url=https://www.hancockclarion.com/2021/08/11/hancock-bank-merges-with-first-financial-corporation/ |title=Hancock Bank merges with First Financial Corporation |newspaper=Hancock Clarion |date=August 11, 2021}} The deal, which added branch locations in Hawesville, Lewisport, Madisonville, Cloverport and Bowling Green in Kentucky to the First Financial portfolio, was valued at $31.3 million dollars ($18.38/share).
Services
The company offers cash management services, lease financing, debit cards, online banking, and other electronically accessed banking services. First Financial Bank also provides various services, including investment advisory and wealth management, investment and brokerage, and investment consulting.
References
{{reflist}}
External links
- {{official website|http://www.first-online.com/}}
{{Finance links
| name = First Financial Bankshares
| symbol = THFF
| reuters = THFF.O
| bloomberg = THFF:US
| sec_cik = THFF
| yahoo = THFF
| google = THFF
| nasdaq = THFF
}}
{{authority control}}
Category:Banks based in Indiana