# First Financial Corp: Form 10-Q for the period ended Mar 31, 2022

- Company: [First Financial Corp](/companies/thff.md) (CIK 714562)
- Form: 10-Q
- Filed: 2022-05-04
- Accepted by EDGAR: May 4, 2022, 08:33 ET
- Period: 2022-03-31
- Accession: 0000714562-22-000046
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/714562/000071456222000046/thff-20220331.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/714562/000071456222000046/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2022-03-31.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Interest expense | 3 months, 2022-01-01 to 2022-03-31 | $1.8m | us-gaap:InterestExpense |
| Income tax | 3 months, 2022-01-01 to 2022-03-31 | $5.8m | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 3 months, 2022-01-01 to 2022-03-31 | $20.9m | us-gaap:NetIncomeLoss |
| Diluted EPS | 3 months, 2022-01-01 to 2022-03-31 | $1.67 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 3 months, 2022-01-01 to 2022-03-31 | $1.67 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 3 months, 2022-01-01 to 2022-03-31 | 12,538,000 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 3 months, 2022-01-01 to 2022-03-31 | $20.5m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 3 months, 2022-01-01 to 2022-03-31 | $1.6m | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Dividends paid | 3 months, 2022-01-01 to 2022-03-31 | $8.0m | us-gaap:PaymentsOfDividends |
| Share repurchases | 3 months, 2022-01-01 to 2022-03-31 | $9.7m | us-gaap:PaymentsForRepurchaseOfCommonStock |
| Total assets | at 2022-03-31 | $5.10bn | us-gaap:Assets |
| Total liabilities | at 2022-03-31 | $4.57bn | us-gaap:Liabilities |
| Shareholders' equity | at 2022-03-31 | $525.4m | us-gaap:StockholdersEquity |

## Management's discussion and analysis

As filed, 1,083 characters.

(a) None.

(b) Not applicable.

(c) Purchases of Equity Securities

The Corporation periodically acquires shares of its common stock directly from shareholders in individually negotiated transactions. On July 21, 2021 First Financial Corporation issued a press release announcing that its Board of Directors has authorized a stock repurchase program pursuant to which up to 5% of the Corporations outstanding shares of common stock, or approximately 652,411 shares may be repurchased.

Following is certain information regarding shares of common stock purchased by the Corporation during the quarter covered by this report.

|  | (a) Total Number Of Shares Purchased | (b) Average Price Paid Per Share | (c) Total Number Of Shares Purchased As Part Of Publicly Announced Plans Or Programs \* | (c) Maximum Number of Shares That May Yet Be Purchased \* |
| --- | ---: | ---: | ---: | ---: |
| Januaryy 1-31, 2022 | — | — | — | — |
| February 1-28, 2022 | 169,335 | 45.17 | 169,335 | 35,617 |
| March 1-31, 2022 | 35,617 | 46.00 | 35,617 | — |
| Total | 204,952 | 45.31 | 204,952 | — |

## Controls and procedures

As filed, 1,186 characters.

First Financial Corporation’s management is responsible for establishing and maintaining effective disclosure controls and procedures, as defined under Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934. As of March 31, 2022, an evaluation was performed under the supervision and with the participation of management, including the principal executive officer and principal financial officer, of the effectiveness of the design and operation of the Corporation's disclosure controls and procedures. Based on that evaluation, management, including the principal executive officer and principal financial officer, concluded that the Corporation’s disclosure controls and procedures as of March 31, 2022 were effective in ensuring material information required to be disclosed in this Quarterly Report on Form 10-Q was recorded, processed, summarized, and reported on a timely basis. Additionally, there was no change in the Corporation's internal control over financial reporting that occurred during the quarter ended March 31, 2022 that has materially affected, or is reasonably likely to materially affect, the Corporation's internal control over financial reporting.

## Risk factors

As filed, 141 characters.

There have been no material changes in the risk factors from those disclosed in the Corporation’s 2021 Form 10-K filed for December 31, 2021.

Filed May 4, 2022.
Source: SEC EDGAR, the filing index for accession 0000714562-22-000046. Last ingested by Listed: Oct 30, 2026, 17:13 ET. No prices; not investment advice.