First Financial Corp: Form 10-Q for the period ended Mar 31, 2024
Filed with the SEC on May 8, 2024 and accepted by EDGAR at May 8, 2024, 09:27 ET.
Management's discussion and analysis
As filed, 1,199 characters, with its headings, lists and tables. Extracted from the main document; charts and exhibits are in the original on sec.gov.
(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 April 21, 2022 First Financial Corporation issued a press release announcing that its Board of Directors has authorized a stock repurchase program pursuant to which up to 10% of the Corporations outstanding shares of common stock, or approximately 1,243,531 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 * |
|---|---|---|---|---|---|---|---|---|
| January 1-31, 2024 | | — | | — | | — | | — |
| February 1-29, 2024 | — | | — | — | — | |||
| March 1-31, 2024 | — | | — | — | — | |||
| Total | — | | — | — | 518,860 |
Controls and procedures
As filed, 1,186 characters, with its headings, lists and tables. Extracted from the main document; charts and exhibits are in the original on sec.gov.
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, 2024, 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, 2024 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, 2024 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, with its headings, lists and tables. Extracted from the main document; charts and exhibits are in the original on sec.gov.
There have been no material changes in the risk factors from those disclosed in the Corporation’s 2023 Form 10-K filed for December 31, 2023.
Figures reported in this filing
Standardized line items from the XBRL in this filing, for the period ended 2024-03-31. Comparative periods it repeats are left out.
| Line item | Period | Value | XBRL concept |
|---|---|---|---|
| Interest expense | 3 months2024-01-01 to 2024-03-31 | $20.5m | us-gaap:InterestExpense |
| Income tax | 3 months2024-01-01 to 2024-03-31 | $2.2m | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 3 months2024-01-01 to 2024-03-31 | $10.9m | us-gaap:NetIncomeLoss |
| Diluted EPS | 3 months2024-01-01 to 2024-03-31 | $0.93 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 3 months2024-01-01 to 2024-03-31 | $0.93 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 3 months2024-01-01 to 2024-03-31 | 11,803,000 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 3 months2024-01-01 to 2024-03-31 | $12.4m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 3 months2024-01-01 to 2024-03-31 | $964.0k | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Dividends paid | 3 months2024-01-01 to 2024-03-31 | $5.3m | us-gaap:PaymentsOfDividends |
| Share repurchases | 3 months2024-01-01 to 2024-03-31 | $376.0k | us-gaap:PaymentsForRepurchaseOfCommonStock |
| Total assets | At period end2024-03-31 | $4.85bn | us-gaap:Assets |
| Total liabilities | At period end2024-03-31 | $4.33bn | us-gaap:Liabilities |
| Long-term debt | At period end2024-03-31 | $58.6m | us-gaap:LongTermDebt |
| Shareholders' equity | At period end2024-03-31 | $520.8m | us-gaap:StockholdersEquity |
Source: SEC EDGAR, the filing index for accession 0000714562-24-000028. Last ingested by Listed: Oct 27, 2026, 17:30 ET. Listed shows no prices and gives no investment advice.