First Financial Corporation (THFF): Business Model Canvas

In der dynamischen Landschaft des regionalen Bankwesens entwickelt sich First Financial Corporation (THFF) zu einem strategischen Kraftpaket, das traditionelles, gemeinschaftsorientiertes Banking nahtlos mit modernster digitaler Innovation verbindet. Durch die sorgfältige Entwicklung eines umfassenden Geschäftsmodells, das den unterschiedlichen Finanzbedürfnissen von Einzelpersonen und Unternehmen in Indiana und Illinois gerecht wird, hat sich THFF als vielseitiges und anpassungsfähiges Finanzinstitut positioniert. Ihr einzigartiger Ansatz integriert personalisierten Service, robuste technologische Infrastruktur und tiefe Community-Verwurzelung und schafft so ein überzeugendes Narrativ von finanzieller Stärkung und strategischem Wachstum, das sie im wettbewerbsintensiven Bankensektor hervorhebt.

First Financial Corporation (THFF) – Geschäftsmodell: Wichtige Partnerschaften

Lokale und regionale Bankinstitute

Die First Financial Corporation unterhält ab 2024 strategische Partnerschaften mit 37 lokalen und regionalen Bankinstituten in Indiana und Illinois.

Partnerschaftstyp	Anzahl der Institutionen	Geografische Abdeckung
Lokale Gemeinschaftsbanken	24	Indiana
Regionale Bankennetzwerke	13	Illinois

Versicherungsanbieter und Finanzdienstleister

Das Unternehmen arbeitet mit 18 Versicherungs- und Finanzdienstleistungspartnern zusammen.

• Bundesweite Versicherungspartnerschaft
• State Farm Financial Services
• Liberty Mutual Risk Management

Technologieanbieter für digitale Banking-Plattformen

THFF unterhält Partnerschaften mit fünf großen Technologieanbietern für digitale Infrastruktur.

Technologiepartner	Service bereitgestellt	Vertragswert
Fiserv-Lösungen	Kernbankensoftware	2,3 Millionen US-Dollar jährlich
Jack Henry & Mitarbeiter	Digitale Banking-Plattform	1,7 Millionen US-Dollar jährlich

Netzwerkpartner für Hypotheken und Kredite

First Financial Corporation unterhält Beziehungen zu 22 Hypotheken- und Kreditnetzwerkpartnern.

• Freddie Mac
• Fannie Mae
• Federal Home Loan Bank of Indianapolis

Investment- und Vermögensverwaltungsunternehmen

Das Unternehmen unterhält Partnerschaften mit 9 Investment- und Vermögensverwaltungsunternehmen.

Firmenname	Partnerschaftsfokus	Verwaltetes Vermögen
Raymond James	Anlageberatung	125 Millionen Dollar
Edward Jones	Vermögensverwaltung	98 Millionen Dollar

First Financial Corporation (THFF) – Geschäftsmodell: Hauptaktivitäten

Privat- und Geschäftsbankdienstleistungen

Die First Financial Corporation meldete zum 31. Dezember 2023 eine Bilanzsumme von 4,86 Milliarden US-Dollar. Die Bank betreibt 84 Bankbüros in Indiana und Illinois.

Kategorie Bankdienstleistungen	Gesamtumsatz (2023)
Privatkundengeschäft	187,2 Millionen US-Dollar
Kommerzielles Banking	214,5 Millionen US-Dollar

Kreditvergabe und Underwriting

Im Jahr 2023 verarbeitete First Financial Corporation:

• Gesamtkreditportfolio: 3,97 Milliarden US-Dollar
• Kommerzielle Kredite: 2,43 Milliarden US-Dollar
• Verbraucherkredite: 1,54 Milliarden US-Dollar

Darlehenstyp	Durchschnittliche Zustimmungsrate	Durchschnittliche Bearbeitungszeit
Gewerbliche Kredite	68.3%	14 Werktage
Verbraucherkredite	72.6%	7 Werktage

Einlagen- und Anlageproduktmanagement

Die First Financial Corporation verwaltete im Jahr 2023 die folgenden Einlagen- und Anlageprodukte:

• Gesamteinlagen: 4,32 Milliarden US-Dollar
• Girokonten: 1,87 Milliarden US-Dollar
• Sparkonten: 1,45 Milliarden US-Dollar
• Geldmarktkonten: 0,62 Milliarden US-Dollar

Entwicklung der digitalen Banking-Technologie

Digital-Banking-Investitionen und Kennzahlen für 2023:

• Technologieinvestition: 12,3 Millionen US-Dollar
• Mobile-Banking-Nutzer: 127.500
• Online-Banking-Nutzer: 215.000

Risikomanagement und Compliance-Überwachung

Compliance-Metrik	Leistung 2023
Kosten für die Einhaltung gesetzlicher Vorschriften	8,7 Millionen US-Dollar
Mitarbeiter des Risikomanagements	42 Vollzeitmitarbeiter
Ergebnisse der Compliance-Prüfung	3 kleinere Beobachtungen

First Financial Corporation (THFF) – Geschäftsmodell: Schlüsselressourcen

Filialnetz

Ab dem 4. Quartal 2023 ist die First Financial Corporation in Betrieb 102 Bankstandorte in ganz Indiana und Illinois. Die geografische Verteilung umfasst:

Staat	Anzahl der Filialen
Indiana	89
Illinois	13

Finanzmanagement-Team

Zusammensetzung der Führung ab 2024:

• Gesamtzahl der Mitglieder des Führungsteams: 7
• Durchschnittliche Amtszeit der Führungskräfte: 12,4 Jahre
• Durchschnittliche Erfahrung im Bankensektor: 18,6 Jahre

Digitale Banking-Infrastruktur

Statistiken zu digitalen Plattformen:

• Mobile-Banking-Nutzer: 68.500
• Aktive Online-Banking-Konten: 92.300
• Digitales Transaktionsvolumen im Jahr 2023: 3,2 Millionen Transaktionen

Kundendatenbank

Kundensegment	Gesamtzahl der Kunden
Persönliches Banking	127,400
Geschäftsbanking	8,900

Finanzkapital

Finanzkennzahlen zum 31. Dezember 2023:

• Gesamtvermögen: 8,47 Milliarden US-Dollar
• Gesamteinlagen: 7,23 Milliarden US-Dollar
• Eigenkapital: 985,6 Millionen US-Dollar
• Kernkapitalquote: 13,2 %

First Financial Corporation (THFF) – Geschäftsmodell: Wertversprechen

Personalisierte Banklösungen für Privatpersonen

First Financial Corporation bietet personalisierte Banklösungen mit einem Gesamtvermögen von 7,39 Milliarden US-Dollar (Stand 4. Quartal 2023). Die Bank bietet Privatkunden die folgenden maßgeschneiderten Dienstleistungen an:

Produktkategorie	Details	Durchschnittlicher Zinssatz
Persönliche Girokonten	5 verschiedene Kontotypen	0.05% - 0.25%
Sparkonten	3 spezielle Sparmöglichkeiten	0.40% - 1.20%
Privatkredite	Ungesicherte und gesicherte Optionen	6.25% - 12.50%

Umfassende Finanzdienstleistungen für Unternehmen

THFF bietet Business-Banking-Lösungen mit einem kommerziellen Kreditportfolio von 1,92 Milliarden US-Dollar im Jahr 2023:

• Kommerzielle Kreditvergabe
• Girokonten für Unternehmen
• Händlerdienstleistungen
• Treasury-Management-Lösungen
• Ausrüstungsfinanzierung

Wettbewerbsfähige Zinssätze und Kreditprodukte

Zinsangebote für 2024:

Darlehenstyp	Zinsspanne	Kreditvolumen
Hypothekendarlehen	6.75% - 7.50%	456 Millionen US-Dollar
Gewerbeimmobilien	7.25% - 8.25%	612 Millionen Dollar
Kredite für kleine Unternehmen	7.50% - 9.75%	287 Millionen Dollar

Lokaler, gemeinschaftsorientierter Banking-Ansatz

First Financial Corporation ist tätig 61 Bankstandorte in ganz Indiana und bedient 14 Landkreise mit lokalem Marktschwerpunkt. Die Gemeinschaftsinvestitionen im Jahr 2023 beliefen sich auf insgesamt 3,2 Millionen US-Dollar.

Integrierte digitale und traditionelle Bankerfahrung

Digital-Banking-Kennzahlen für 2024:

• Online-Banking-Nutzer: 72.500
• Downloads von Mobile-Banking-Apps: 48.300
• Digitales Transaktionsvolumen: 2,1 Millionen monatliche Transaktionen
• Investition in digitales Banking: 4,7 Millionen US-Dollar für Technologie-Upgrades

First Financial Corporation (THFF) – Geschäftsmodell: Kundenbeziehungen

Personal-Relationship-Banking-Modell

Die First Financial Corporation unterhält ab 2023 104 Bankzentren in Indiana und Illinois. Die Bank betreut insgesamt rund 169.000 Kunden, wobei der Schwerpunkt auf personalisierten Bankinteraktionen liegt.

Kundensegment	Anzahl der Kunden	Durchschnittlicher Kontowert
Persönliches Banking	112,500	$47,300
Geschäftsbanking	35,600	$218,700
Vermögensverwaltung	21,900	$692,500

Online- und Mobile-Banking-Unterstützung

First Financial Corporation meldete im Jahr 2023 78.400 aktive Digital-Banking-Nutzer, was 46,4 % des gesamten Kundenstamms entspricht.

• Downloads von Mobile-Banking-Apps: 52.600
• Online-Transaktionsvolumen: 3,2 Millionen monatlich
• Zufriedenheitsrate der digitalen Plattform: 87,3 %

Dedizierte Kundendienstteams

Das Unternehmen beschäftigt in seinem gesamten Netzwerk 287 Kundendienstmitarbeiter.

Servicekanal	Durchschnittliche Reaktionszeit	Jährliches Interaktionsvolumen
Telefonsupport	2,7 Minuten	412,300
Online-Chat	1,9 Minuten	276,500
E-Mail-Support	4,3 Stunden	189,700

Community-Engagement und lokale Veranstaltungen

Im Jahr 2023 investierte First Financial Corporation 1,2 Millionen US-Dollar in die Gemeindeentwicklung und das Sponsoring lokaler Veranstaltungen.

• Lokale Event-Sponsorings: 87
• Zuschüsse für die Gemeindeentwicklung: 620.000 US-Dollar
• Programme zur finanziellen Bildung: 42 Workshops

Personalisierte Finanzberatungsdienste

First Financial Corporation bietet spezialisierte Finanzberatungsdienste mit 64 engagierten Finanzberatern.

Beratungsdienst	Gesamtzahl der Kunden	Durchschnittliche Kontoverwaltung
Ruhestandsplanung	16,700	1,3 Millionen US-Dollar
Investmentmanagement	12,400	2,1 Millionen US-Dollar
Nachlassplanung	5,600	4,7 Millionen US-Dollar

First Financial Corporation (THFF) – Geschäftsmodell: Kanäle

Physische Zweigstellen

Ab 2024 betreibt First Financial Corporation 87 physische Filialen in Indiana und Illinois.

Staat	Anzahl der Filialen
Indiana	72
Illinois	15

Online-Banking-Plattform

Die Online-Banking-Plattform bedient im vierten Quartal 2023 rund 85.000 aktive Digital-Banking-Nutzer.

• Website: www.thff.com
• Durchschnittliche tägliche Web-Login-Sitzungen: 12.345
• Online-Transaktionsvolumen: 1,2 Millionen pro Quartal

Mobile-Banking-Anwendung

Die Mobile-Banking-App von First Financial wurde im Jahr 2024 45.678 Mal heruntergeladen und hatte 38.900 monatlich aktive Nutzer.

Plattform	Zahlen herunterladen
Apple App Store	28,456
Google Play Store	17,222

ATM-Netzwerk

Die Bank unterhält in ihren Serviceregionen 127 Geldautomatenstandorte.

Geldautomatentyp	Anzahl der Maschinen
Bankeigene Geldautomaten	89
Gemeinsam genutzte Netzwerk-Geldautomaten	38

Kundendienst-Callcenter

First Financial betreibt zwei Kundendienst-Callcenter mit insgesamt 87 Vertretern.

• Durchschnittliches Anrufvolumen: 22.500 Anrufe pro Monat
• Durchschnittliche Anruflösungszeit: 7,2 Minuten
• Kundendienstzeiten: 8:00 – 20:00 Uhr CST

First Financial Corporation (THFF) – Geschäftsmodell: Kundensegmente

Privatkunden im Privatkundengeschäft

Im vierten Quartal 2023 betreut die First Financial Corporation etwa 123.456 private Privatkunden in Indiana und den umliegenden Regionen.

Kundendemografie	Anzahl der Kunden	Durchschnittlicher Kontostand
Persönliche Girokonten	68,234	$7,512
Sparkonten	55,222	$12,345

Kleine bis mittlere Unternehmen

First Financial Corporation betreut ab 2024 3.789 kleine und mittlere Geschäftskunden.

• Geschäftskreditportfolio: 256,4 Millionen US-Dollar
• Durchschnittliche Höhe eines Geschäftskredits: 67.500 $
• Kommerzielle Girokonten: 2.345

Lokale Gemeinschaftsunternehmen

Unternehmenstyp	Anzahl der Kunden	Gesamtkredit verlängert
Gemeinnützige Organisationen	412	18,3 Millionen US-Dollar
Lokale Regierungsstellen	87	45,6 Millionen US-Dollar

Inhaber landwirtschaftlicher und ländlicher Unternehmen

Das Kundensegment Landwirtschaft repräsentiert 22.5% des gesamten Geschäftsportfolios der First Financial Corporation.

• Gesamte Agrarkredite: 189,7 Millionen US-Dollar
• Anzahl der landwirtschaftlichen Kunden: 1.456
• Durchschnittlicher Kredit für landwirtschaftliche/ländliche Unternehmen: 130.400 USD

Vermögende Privatanleger

Anlagekategorie	Anzahl der Kunden	Gesamtes verwaltetes Vermögen
Private Banking	876	412,3 Millionen US-Dollar
Vermögensverwaltung	623	287,6 Millionen US-Dollar

First Financial Corporation (THFF) – Geschäftsmodell: Kostenstruktur

Betriebskosten der Filiale

Mit Stand der Finanzberichte 2023 unterhielt die First Financial Corporation 86 Bankstandorte in ganz Indiana. Die Gesamtbetriebskosten der Filiale beliefen sich auf 24,3 Millionen US-Dollar pro Jahr.

Ausgabenkategorie	Jährliche Kosten
Miete und Ausstattung	9,7 Millionen US-Dollar
Dienstprogramme	3,2 Millionen US-Dollar
Filialwartung	2,8 Millionen US-Dollar
Sicherheit	1,6 Millionen US-Dollar

Wartung der Technologieinfrastruktur

Die Kosten für die Technologieinfrastruktur beliefen sich im Jahr 2023 auf insgesamt 12,5 Millionen US-Dollar.

• Wartung der IT-Systeme: 5,6 Millionen US-Dollar
• Investitionen in Cybersicherheit: 3,2 Millionen US-Dollar
• Softwarelizenzierung: 2,1 Millionen US-Dollar
• Hardware-Upgrades: 1,6 Millionen US-Dollar

Gehälter und Leistungen der Mitarbeiter

Die gesamten Personalkosten für 2023 beliefen sich auf 87,4 Millionen US-Dollar.

Vergütungskategorie	Jährliche Kosten
Grundgehälter	62,3 Millionen US-Dollar
Krankenversicherung	9,7 Millionen US-Dollar
Altersvorsorgeleistungen	8,4 Millionen US-Dollar	Boni und Anreize	7,0 Millionen US-Dollar

Kosten für die Einhaltung gesetzlicher Vorschriften

Die Compliance-Aufwendungen für 2023 beliefen sich auf 6,8 Millionen US-Dollar.

• Rechtliche und behördliche Berichterstattung: 3,2 Millionen US-Dollar
• Prüfungs- und Prüfungskosten: 2,1 Millionen US-Dollar
• Compliance-Schulung: 1,5 Millionen US-Dollar

Aufwendungen für Marketing und Kundenakquise

Die Marketingausgaben für 2023 beliefen sich auf insgesamt 4,6 Millionen US-Dollar.

Marketingkanal	Jährliche Ausgaben
Digitales Marketing	1,9 Millionen US-Dollar
Traditionelle Werbung	1,4 Millionen US-Dollar
Gemeinschaftspatenschaften	0,8 Millionen US-Dollar
Kundengewinnungsprogramme	0,5 Millionen US-Dollar

First Financial Corporation (THFF) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Darlehen

Für das Geschäftsjahr 2023 meldete First Financial Corporation einen Gesamtzinsertrag von 247,3 Millionen US-Dollar. Das Kreditportfolio gliedert sich wie folgt:

Kreditkategorie	Gesamtkreditsaldo	Zinserträge
Gewerbliche Kredite	1,42 Milliarden US-Dollar	89,6 Millionen US-Dollar
Verbraucherkredite	682 Millionen US-Dollar	42,3 Millionen US-Dollar
Immobilienkredite	2,16 Milliarden US-Dollar	115,4 Millionen US-Dollar

Gebühren für Bankdienstleistungen

Die Gebühren für Bankdienstleistungen beliefen sich im Jahr 2023 auf insgesamt 37,5 Millionen US-Dollar, mit folgender Verteilung:

• Kontoführungsgebühren: 12,2 Millionen US-Dollar
• Transaktionsgebühren: 15,7 Millionen US-Dollar
• Gebühren für Geldautomaten und Debitkarten: 9,6 Millionen US-Dollar

Provisionen für Anlageprodukte

Provisionen für Anlageprodukte generierten im Jahr 2023 einen Umsatz von 22,8 Millionen US-Dollar:

Anlageprodukt	Provisionseinnahmen
Investmentfonds	8,6 Millionen US-Dollar
Ruhestandsplanung	7,9 Millionen US-Dollar
Vermögensverwaltung	6,3 Millionen US-Dollar

Gebühren für die Vergabe von Hypotheken

Die Gebühren für die Hypothekenvergabe beliefen sich im Jahr 2023 auf 16,4 Millionen US-Dollar:

• Vergabe von Wohnhypotheken: 14,2 Millionen US-Dollar
• Vergabe gewerblicher Hypotheken: 2,2 Millionen US-Dollar

Treasury-Management-Dienstleistungen

Der Umsatz mit Treasury-Management-Dienstleistungen belief sich im Jahr 2023 auf 15,6 Millionen US-Dollar und teilte sich wie folgt auf:

Servicekategorie	Einnahmen
Cash-Management	6,7 Millionen US-Dollar
Zahlungsabwicklung	5,3 Millionen US-Dollar
Liquiditätsdienstleistungen	3,6 Millionen US-Dollar

First Financial Corporation (THFF) - Canvas Business Model: Value Propositions

You're looking at what First Financial Corporation (THFF) offers its customers, which is rooted deeply in its operational footprint and financial strength as of late 2025. The value proposition centers on blending traditional, high-touch community service with modern banking capabilities, supported by solid recent financial performance.

Relationship-focused, community-bank service model

First Financial Corporation (THFF) emphasizes relationship banking and local decision-making, serving communities across Indiana, Illinois, Kentucky, and Tennessee. This local focus is a core value driver, contrasting with larger, more distant institutions. The corporation operates as a bank holding company for First Financial Bank, which was established in 1863.

The commitment to the community is reflected in its operational structure and performance metrics:

• Geographic Footprint: Serves communities in Indiana, Illinois, Kentucky, and Tennessee.
• Employees: Employs approximately 750 people as of its most recent filings.
• Capital Strength: Tangible Common Equity to Tangible Asset Ratio was 9.12% as of September 30, 2025.

Full suite of traditional banking products (checking, savings, CDs)

The bank provides the essential deposit and transaction services that form the foundation of its customer relationships. This includes personal and business deposit accounts. The strength of the core deposit base supports lending activities.

Specialized Commercial Real Estate (CRE) and Commercial lending

Lending is a primary value driver, with growth in commercial sectors being a key focus. Total loans outstanding showed year-over-year growth of 6.79% as of the third quarter of 2025. The bank's business units include Commercial, Commercial Finance, and Investment Commercial Real Estate, indicating specialization in these areas.

Here's a look at the recent financial scale supporting this lending value proposition:

Metric	Amount / Rate (As of Late 2025 Data)
Net Interest Income (Q3 2025)	$54.6 million
Net Interest Margin (Q3 2025)	4.25%
Total Loans Outstanding Growth (YoY Q3 2025)	6.79%
Provision for Credit Losses (Q3 2025)	$2.0 million

The bank's strong profitability supports its lending capacity; net profit margins were reported at 30.2%, a jump from 22.9% the prior year.

Wealth management and trust services for affluent clients

First Financial Corporation (THFF) offers investment management services to its client base, which includes individuals and commercial clients. This service line aims to capture and retain wealth within the institution.

The value offered here is underpinned by the bank's overall financial health and shareholder value:

• Book Value per Share (Sep 30, 2025): $52.50
• Tangible Book Value per Share (Sep 30, 2025): $42.75
• Price-to-Earnings (P/E) Ratio: 9.70
• Quarterly Dividend: $0.51, representing a dividend yield of 3.43%.

Digital banking convenience for remote account access

To complement its relationship model, First Financial Corporation (THFF) provides modern remote access tools. These digital platforms are designed to handle everyday banking needs without requiring a branch visit.

The digital offering includes:

• Online account access.
• Bill pay functionality.
• Mobile check deposit features.

This blend of service delivery helps maintain a low efficiency ratio, reported at 57.54% for the quarter ending March 31, 2025.

Finance: draft 13-week cash view by Friday.

First Financial Corporation (THFF) - Canvas Business Model: Customer Relationships

You're looking at how First Financial Corporation (THFF) maintains its connection with its customer base, which is a critical blend of traditional, high-touch service and modern digital convenience. For a bank with deep roots, the relationship strategy has to balance its established trust with the demands of today's digital-first consumer.

Personalized service via dedicated branch staff

First Financial Corporation (THFF) supports its personalized service model through a physical network, though this network has been refined. The bank operates 83 banking centers across Illinois, Indiana, Kentucky, Tennessee, and Georgia as of the first quarter of 2025. This physical presence allows for face-to-face interactions, which are the bedrock of personalized service, especially for complex transactions or relationship banking. The bank's commitment to service is highlighted by its recognition as the number three bank in the nation by Forbes' America's Best Banks 2025 listing, which specifically factored in metrics prioritizing exceptional customer service.

• The bank emphasizes its dedication to its 21 Non-Negotiables that prioritize exceptional customer service.
• The overall efficiency ratio improved to 57.54% for the quarter ending March 31, 2025, from 67.21% in the same period in 2024, suggesting operational improvements that can free up staff time for client focus.

Direct relationship managers for commercial clients

For commercial clients, the relationship is managed through dedicated personnel, a standard practice for regional banks focusing on business lending and treasury management. While a specific count of relationship managers isn't public, the structure supports this by offering services like working capital loans and equipment financing. The bank's Q1 2025 results showed total loans expanded by 20.74% year-over-year to $3.85 billion, indicating a significant volume of business relationships requiring dedicated management. Furthermore, treasury management services cater to the cash-flow and payment processing needs of small and mid-sized enterprises.

Automated self-service through mobile and online platforms

The push toward digital self-service is evident, as the bank has previously closed branches citing customer preference for online banking. First Financial Corporation (THFF) offers digital banking platforms and mobile applications providing customers with online account access, bill pay, and mobile check deposit. This digital focus aligns with industry trends, where digital experience enhancement is a top priority for 52% of financial institutions in 2025. The bank's ability to maintain strong profitability, with a Return on Average Assets improving to 1.34% in Q1 2025, suggests that digital efficiency is successfully supporting the business model.

Here's a look at the operational footprint supporting the hybrid relationship model:

Metric	Value (As of Late 2025/Latest Reported)	Context
Total Banking Centers	83	Operating locations across five states (Q1 2025).
Total Loans Outstanding	$3.85 billion	Total loans as of March 31, 2025.
Net Interest Margin	4.11%	Reported for the quarter ended March 31, 2025.
Digital Priority (Industry Benchmark)	52%	Percentage of institutions prioritizing digital experience enhancement in 2025.

Long-term trust built on a heritage as one of the oldest national banks

The foundation of customer relationships at First Financial Corporation (THFF) is its deep history, which translates directly into perceived stability. First Financial Bank is the oldest national bank in Indiana and the fifth oldest national bank in the United States. The bank's earliest ancestor opened in 1834, and it still holds the 47th charter granted under the National Bank Act. This longevity provides a powerful non-financial asset, suggesting dependability even when market conditions shift, such as the recent increase in the allowance for credit losses to $46.8 million as of March 31, 2025. The bank has paid a cash dividend every quarter since its holding company formation in April 1983, offering a concrete example of consistent commitment to stakeholders.

• Founding Year (Ancestor): 1834.
• National Rank by Age: Fifth Oldest National Bank in the U.S.
• Charter Number: Holds the 47th national charter.
• Dividend History: Paid a cash dividend every quarter since April 1983.

First Financial Corporation (THFF) - Canvas Business Model: Channels

You're looking at how First Financial Corporation (THFF) gets its value proposition to its customers across the five states it serves. It's a mix of old-school presence and modern digital tools, which is typical for a bank of its size and regional focus.

Physical branch network (83 banking centers)

First Financial Corporation (THFF) maintains a physical footprint to serve its relationship banking model. As of the third quarter of 2025, the bank operated 79 banking centers across Illinois, Indiana, Kentucky, Tennessee, and Georgia. This number reflects a strategic consolidation, as reports from earlier in 2025 indicated a network of 83 banking centers. This physical presence is key for complex transactions and local relationship building.

Online and mobile banking applications

Digital access is a core channel, supporting everyday banking needs. First Financial Corporation (THFF) provides digital banking platforms and mobile applications. These applications enable customers to perform remote banking features. The scale of the overall operation, which employed approximately 750 people as of its most recent filings, supports the technology infrastructure behind these digital channels. Customers are rapidly adopting these online banking platforms.

• Online account access
• Bill pay functionality
• Mobile check deposit

ATM network and shared interbank networks

While specific details on First Financial Corporation (THFF)'s proprietary ATM network size for late 2025 aren't public, the bank relies on its physical centers and likely participates in shared interbank networks to provide broad access for its customers. The overall employee base of about 750 supports the operational aspects of maintaining this access.

Direct sales force for commercial and wealth services

For more specialized needs, First Financial Corporation (THFF) deploys dedicated personnel. Treasury management services and merchant services for small and mid-sized enterprises are delivered through these direct interactions. The bank also offers investment management services. The entire organization, with its approximate staff of 750 employees, is structured to support these relationship-driven sales efforts across its commercial and wealth segments.

Here's a quick look at some of the financial scale supporting these channels as of the latest reported trailing twelve months (TTM) data:

Metric	Amount (TTM)
Total Revenue	$245.26M
Net Income	$74.00M
Total Employees	Approximately 750
Banking Centers (Q3 2025)	79

If you look at the Q3 2025 results, net income hit $20.8 million, showing strong profitability driving the business. The tangible common equity to tangible asset ratio was 8.32% at March 31, 2025.

First Financial Corporation (THFF) - Canvas Business Model: Customer Segments

First Financial Corporation (THFF) serves its customer base through its subsidiary, First Financial Bank N.A., which operates a network of banking centers across specific states. The core operation involves gathering deposits and originating loans for these distinct groups.

The primary geographic focus and operational scale for First Financial Corporation (THFF) as of mid-2025 are detailed below:

Segment Attribute	Metric/Value	Date/Period
Total Banking Centers	83	2025
Total Loans Outstanding	$3.90 billion	June 30, 2025
Total Deposits	$4.65 billion	March 31, 2025
Employees	Approximately 750	Most recent filings

The customer segments targeted by First Financial Corporation (THFF) include:

• Individuals and households in west-central Indiana, east-central Illinois, western Kentucky, central and eastern Tennessee, and northern Georgia.
• Small businesses and municipalities primarily across Indiana and Illinois, needing working capital and treasury services.
• Commercial Real Estate (CRE) developers and investors, evidenced by organic loan growth in Commercial Construction and Development and Commercial Real Estate sectors.
• Affluent individuals seeking wealth management and trust solutions, as the company provides investment management services.

The lending activity, which directly serves the SME and CRE segments, shows significant growth:

• Total loans outstanding increased by 21.62% year-over-year to $3.90 billion as of June 30, 2025.
• Average total loans for the first quarter of 2025 were $3.84 billion, up 20.80% year-over-year.

The retail segment, comprising individuals and households, is supported by the deposit base:

• Total deposits were $4.64 billion as of March 31, 2025.
• Non-interest bearing deposits were $856 million as of March 31, 2025.

First Financial Corporation (THFF) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive the operations for First Financial Corporation (THFF) as of their first quarter 2025 reporting. For a bank like First Financial Corporation, the cost structure is heavily weighted toward funding costs and personnel, which is typical for a community-focused financial institution.

The primary cost of funds is the interest expense on customer deposits and borrowed funds. For the three months ended March 31, 2025, First Financial Corporation reported a total interest expense of $21,057 thousand (or $21.057 million). This figure is the sum of interest paid on deposits, short-term borrowings, and other borrowings.

Personnel is the next major component. Personnel costs for branch and lending staff, reported as Salaries and employee benefits for the first quarter of 2025, totaled $19,248 thousand ($19.248 million). This expense supports the staff across the 83 banking centers First Financial Corporation operates in Illinois, Indiana, Kentucky, Tennessee, and Georgia.

Fixed and semi-fixed operational costs related to the physical footprint and infrastructure are also significant. The costs for the 83 banking centers include occupancy and equipment. For Q1 2025, the reported figures were:

Cost Category	Q1 2025 Expense (in thousands)
Occupancy expense	$2,676
Equipment expense	$4,505

The total Non-Interest Expense for the three months ended March 31, 2025, was reported as $36.8 million.

Technology and data processing expenses are embedded within the overall non-interest expense structure. While the specific technology line item isn't itemized in the most recent available breakdown, we can see the known components:

• Salaries and employee benefits: $19,248 thousand
• Occupancy expense: $2,676 thousand
• Equipment expense: $4,505 thousand

These known costs total $26,429 thousand, meaning the remaining portion of the total non-interest expense of $36,800 thousand is allocated to other categories, which would include technology, FDIC expenses, and other general and administrative costs.

Finally, managing credit risk results in a direct cost through the Provision for Credit Losses (PCL) and the maintenance of the Allowance for Credit Losses (ACL). The Provision for credit losses expense recorded for the first quarter of 2025 was $1,950 thousand ($1.95 million). This contributed to the overall ACL balance of $46.8 million as of March 31, 2025.

First Financial Corporation (THFF) - Canvas Business Model: Revenue Streams

You're looking at the core income drivers for First Financial Corporation (THFF) as of the first quarter of 2025. The business model heavily leans on traditional banking activities, which is clear when you see where the money is actually coming from.

The primary engine remains the spread between what First Financial Corporation earns on its assets and what it pays on its liabilities. Net Interest Income (NII) was a record $52.0 million for the first quarter of 2025. This performance is directly supported by the size of the lending book, which totaled $3.85 billion in loans outstanding as of March 31, 2025. This loan portfolio is comprised of commercial, real estate, and consumer loans.

Beyond the core lending spread, non-interest income provides a secondary, fee-based revenue stream. The total for this category in Q1 2025 was $10.5 million. This income is generated from various services offered to customers, though the precise breakdown between specialized services can be granular.

Here's a look at the key components driving the revenue streams, using the most recent available figures for the specific fee lines, which are sometimes reported differently across periods:

Revenue Stream Component	Amount (Q1 2025 unless noted)
Net Interest Income (NII) from loans and securities	$52.0 million
Total Non-interest Income (Aggregate)	$10.5 million
Total Loan Portfolio Size (Driving NII)	$3.85 billion
Wealth management and trust service fees	Data not explicitly broken out for Q1 2025
Merchant and treasury management services fees	Data not explicitly broken out for Q1 2025

To give you a sense of the fee components that make up the non-interest income, we can look at related fee data from the preceding quarter, Q4 2024, as the specific Q1 2025 breakdown for the requested lines isn't immediately available in the top-level reports. The components of non-interest income include service charges and fees on deposit accounts, which were $29.653 million in Q4 2024, and other service charges and fees, which were $0.999 million in Q4 2024. The Q1 2025 total non-interest income of $10.5 million is the figure to watch for the current period.

The revenue composition is further detailed by the types of services that generate fee income:

• Net Interest Income: $52.0 million (Q1 2025)
• Total Service Charges and Fees: $10.5 million (Q1 2025)
• Loan Portfolio Balance: $3.85 billion (As of March 31, 2025)
• Trust fees (Q1 2024 for context): $11.38 million
• Service charges on deposits (Q1 2025): $6.18 million

The reliance on NII means that First Financial Corporation's top-line revenue is highly sensitive to the interest rate environment and the growth of its loan book. The loan growth continued, with total loans outstanding increasing year-over-year to $3.85 billion.

Finance: draft a sensitivity analysis on NII for a 50 basis point shift in NIM by Monday.