First Financial Bank
First Financial Bank is a regional bank with 67 retail branches operated by First Financial Corporation and based in Terre Haute, Indiana. It is the oldest national bank in Indiana. First Financial Corporation is Vigo County's only publicly traded company.
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| First Financial Bank | |
| Type | Public |
| NASDAQ: THFF Russell 2000 Component | |
| Industry | Finance |
| Founded | 1834 as the Terre Haute branch of the Second State Bank of Indiana |
| Headquarters | Terre Haute, Indiana, USA |
Area served | Indiana, Illinois |
Key people | Norman L. Lowery, Vice Chairman & CEO |
| Products | Financial Services |
Number of employees | More than 2000 (2010)[1] |
| Website | first-online |
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.
The bank now operates in Indiana and Illinois. The Morris Plan Company of Terre Haute is a subsidiary of First Financial Corporation.[1]
On July 29, 2019 the bank published via GLOBE NEWSWIRE ([2]) -- First Financial Corporation (NASDAQ: THFF) (“First Financial”) announced today that it completed its merger with HopFed Bancorp, Inc. (NASDAQ: HFBC) (“HFBC”) and the merger of First Financial’s wholly owned subsidiary, First Financial Bank, N.A. (“First Financial Bank”), with HFBC’s wholly owned subsidiary, Heritage Bank USA, Inc. (“Heritage Bank”).
Under the terms of the merger agreement, shareholders of HFBC may elect to receive either (or a combination of) 0.444 shares of First Financial common stock or $21.00 in cash for each share of HFBC common stock owned, subject to proration provisions that provide for a targeted aggregate split of 50% of HFBC shares being exchanged for First Financial common stock and 50% for cash. Based upon First Financial’s closing price of $43.43 per share on July 26, 2019, and assuming that a shareholder received 50% stock and 50% cash, the shareholder would receive total consideration with an implied value of approximately $20.14 per share, with an aggregate transaction value of approximately $133.9 million.
“We are happy we can officially welcome the customers and associates of Heritage Bank to the First Financial family,” said Norman L. Lowery, President and CEO of First Financial. “We look forward to building on the Heritage tradition of excellent products and services as we combine our institutions into one dynamic community bank.”
“This partnership between our two great companies represents a significant milestone for our customers and our valued associates,” added John Peck, President and CEO of HFBC. “It provides added strength to our organization and substantial opportunities for growth.”
As a result of the merger, First Financial Bank now operates 83 banking centers and five loan production offices serving Indiana, Illinois, Kentucky and Tennessee.
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
External links
- Business data for First Financial Bankshares: