First Financial 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.[2] First Financial Corporation is Vigo County's only publicly traded company.

This article is about the Terre Haute, Indiana-based bank. For the Cincinnati-based bank, see First Financial Bank (Ohio). For the Abilene, Texas-based bank, see First Financial Bank (Texas).

First Financial Corporation
First Financial Bank
TypePublic
Nasdaq: THFF
Russell 2000 Component
IndustryFinance
Founded1834 (1834) as the Terre Haute branch of the Second State Bank of Indiana
HeadquartersTerre Haute, Indiana, USA
Area served
Indiana, Illinois, Kentucky, Tennessee
Key people
Norman L. Lowery, Vice Chairman & CEO
ProductsFinancial services
Number of employees
More than 2000 (2010)[1]
Websitefirst-online.bank

History

The bank was founded in 1834 as a branch of the Second State Bank of Indiana[2] 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.

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,[1] would be merged into First Financial Bank, effective December 31, 2021.[3]

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.[4]

In March 2013, First Financial Corp. acquired 9 branch offices in central and southern Illinois from Bank of America.[5]

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.[6][7]

In August 2021, First Financial Bank announced that it was acquiring Hancock Bank & Trust, a longtime community bank based in Hawesville.[8][9] 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
  1. "First Financial Bank Corporate Profile". SNL Financial. Retrieved June 23, 2010.
  2. "First Financial Bank named one of world's top 1,000". Terre Haute Tribune-Star. August 21, 2011.
  3. Greninger, Howard (September 27, 2021). "TH First Financial Corp. merges with The Morris Plan". Terre Haute Tribune-Star. Retrieved September 28, 2021.
  4. Westermeyer, Lois (October 12, 2011). "First Financial to acquire Freestar". Pontiac Daily Leader.
  5. Little, Stephen (March 20, 2013). "Bank of America to sell nine of its branches to First Financial Bank". Retail Banker International.
  6. "First Financial Corporation and HopFed Bancorp Announce Completion of Merger Transaction". First Financial Corporation (Press release). July 29, 2019 – via GlobeNewswire.
  7. "First Financial acquires HopFed Bancorp., including Heritage Bank". Terre Haute Tribune-Star. July 29, 2019.
  8. "First Financial to acquire Hancock Bank & Trust Company for $31.35m". Retail Banker International. August 11, 2021.
  9. "Hancock Bank merges with First Financial Corporation". Hancock Clarion. August 11, 2021.
  • Official website
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