First Financial Corp 2024年度报告

☑ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscalyear endedDecember31, 2024 OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period fromto Commission file number0-16759FIRST FINANCIAL CORPORATION(Exact name of registrant as specified in its charter) (812)238-6000(Registrant’s Telephone Number, Including Area Code)Securities registered pursuant to Section12(b)of the Act: Indicate by check mark if the registrant is a well-known-seasoned issuer, as defined in Rule405 of the Securities Act. Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act.Yes☐No☑ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required tofile such reports), and (2)has been subject to such filing requirements for the past 90days.Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12months (or for suchshorter period that the registrant was required to submit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or asmaller reporting company. See definition of “accelerated filer”, “large accelerated filer”, and “smaller reporting company” inRule12b-2 of the Exchange Act of 1934. Large accelerated filerNon-accelerated filerEmerging growth company ☐Accelerated filer☐Smaller reporting company☐ ☑☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section7(a)(2)(B)of theSecurities Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section404(b)of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report.☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Table of Contents Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to§240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).Yes☐No☑ As of June30, 2024 the aggregate market value of the stock held by non-affiliates of the registrant based on the average bidand ask prices of such stock was $398,936,323. (For purposes of this calculation, the Corporation excluded the stock ownedby certain beneficial owners and management and the Corporation’s Employee Stock Ownership Plan.) Shares of Common Stock outstanding as of March3, 2025—11,853,489shares. DOCUMENTS INCORPORATED BY REFERENCE Portions of the Definitive Proxy Statement for the First Financial Corporation Annual Meeting of Shareholders to be heldApril16, 2025 are incorporated by reference into PartIII. FIRST FINANCIAL CORPORATION2024 ANNUAL REPORT ON FORM10-KTABLE OF CONTENTS PART IItem 1. BusinessItem 1A. Risk FactorsItem 1B. Unresolved Staff CommentsItem 1C. CybersecurityItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Mine Safety DisclosuresPART II 4162929303333Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities34Item 6. Selected Financial Data36Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations37Item 7A. Quantitative and Qualitative Disclosures about Market Risk49Item 8. Financial Statements and Supplementary Data50Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures104Item 9A. Controls and Procedures104Item 9B. Other Information105Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections105PART IIIItem 10. Directors, Executive Officers and Corporate Governance105Item 11. Executive Compensation105Item 12. Security Ownership of Certain Beneficial Owners and Management and Related ShareholderMatters106Item 13. Certain Relationships and Related Transactions and Director Independence106Item 14. Principal Accountant Fees and Services107PART IVItem 15. Exhibits and Financial Statement Schedules107Signatures109 Exhibit 21Exhibit 31.1Exhibi