AI-extracted from the 10-Q filed 2026-08-06 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
First Financial's Q2 2026 net income rose 22% YoY to $22.7M as net interest margin expanded to 4.33% and the CedarStone acquisition boosted loan growth, though non-performing loans jumped 176% YoY to $27.1M.
Biggest Revenue Drivers
Net Interest Income$61.2M+16% YoY
Driven by loan growth from the CedarStone acquisition and margin expansion, as net interest margin rose to 4.33% from 4.15%.
Non-Interest Income$10.6M+3% YoY
Growth led by higher service charges and debit card fee income on deposit accounts.
Biggest Revenue Drivers
Net Interest Income$61.2M+16% YoY
Driven by loan growth from the CedarStone acquisition and margin expansion, as net interest margin rose to 4.33% from 4.15%.
Non-Interest Income$10.6M+3% YoY
Growth led by higher service charges and debit card fee income on deposit accounts.
Within Non-Interest Income
Service charges on deposits and debit card fee income$8.2M+9% YoY
Largest Expense Items
Salaries and employee benefits$21.3M+8% YoY
Increase reflects additional operating costs from the CedarStone Financial acquisition.
Other non-interest expense$12.6M+17% YoY
Equipment expense$5.3M+15% YoY
Occupancy expense$2.7M+10% YoY
Margins: Net interest margin expanded to 4.33% in Q2 2026 from 4.15% a year earlier, a 4.32% increase; the filing attributes the improved yield on average earning assets primarily to higher yields on investments.
Watch Items from the Filing
Non-performing loans increased 176.3% YoY to $27.1 million at June 30, 2026, though allowance coverage of non-performing loans improved to 188.2% from 167.9% at December 31, 2025.
Gross unrealized losses on available-for-sale securities were $118.8 million at June 30, 2026, which management attributes to rate movements rather than issuer creditworthiness.
The March 1, 2026 acquisition of CedarStone Financial added $292 million in loans and $313 million in deposits, contributing to $413 million of year-to-date loan growth.
The qualitative component of the allowance for credit losses increased $1.8 million to $15.9 million, reflecting management's overlay for economic uncertainty.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About FIRST FINANCIAL CORP /IN/ (THFF): stock profile, AI score and financials
FIRST FINANCIAL CORP /IN/ (THFF) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores THFF at 65.4/100 on a composite quality score built from its SEC filings, placing it at rank #481 of 2,925 stocks — the top 25% of the AI-ranked universe. THFF scores in the top quartile across profitability (92.3), free cash flow (87.5), revenue growth (77.1). Areas of concern include revenue scale (28.3), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), FIRST FINANCIAL CORP /IN/ reports quarterly revenue of $71.9M, net income of $22.7M, an operating margin of 39.0%. THFF trades on the Nasdaq exchange and files with the SEC under CIK 714562. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate THFF daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for FIRST FINANCIAL CORP /IN/ directly from SEC EDGAR.