Primera Corporación Financiera (THFF): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la banca regional, First Financial Corporation (THFF) surge como una potencia estratégica, combinando perfectamente la banca tradicional centrada en la comunidad con innovación digital de vanguardia. Al crear meticulosamente un modelo de negocio integral que aborde las diversas necesidades financieras de individuos y empresas en Indiana e Illinois, THFF se ha posicionado como una institución financiera versátil y adaptativa. Su enfoque único integra un servicio personalizado, una infraestructura tecnológica robusta y profundas raíces comunitarias, creando una narración convincente del empoderamiento financiero y el crecimiento estratégico que los distingue en el sector bancario competitivo.

First Financial Corporation (THFF) - Modelo de negocios: asociaciones clave

Instituciones bancarias locales y regionales

First Financial Corporation mantiene asociaciones estratégicas con 37 instituciones bancarias locales y regionales en Indiana e Illinois a partir de 2024.

Tipo de asociación	Número de instituciones	Cobertura geográfica
Bancos comunitarios locales	24	Indiana
Redes bancarias regionales	13	Illinois

Proveedores de seguros y compañías de servicios financieros

La corporación colabora con 18 socios de seguros y servicios financieros.

• Asociación de seguro nacional
• Servicios financieros de la granja estatal
• Gestión de riesgos mutuos de Liberty

Proveedores de tecnología para plataformas de banca digital

THFF tiene asociaciones con 5 proveedores principales de tecnología para infraestructura digital.

Socio tecnológico	Servicio proporcionado	Valor de contrato
Soluciones de fiserv	Software bancario central	$ 2.3 millones anualmente
Jack Henry & Asociado	Plataforma de banca digital	$ 1.7 millones anuales

Socios de redes hipotecarias y de préstamos

First Financial Corporation mantiene relaciones con 22 socios de redes hipotecarias y de préstamos.

• Freddie Mac
• Fannie Mae
• Banco Federal de Préstamos para la Ibrazo de Indianápolis

Empresas de gestión de inversiones y patrimonio

La corporación tiene asociaciones con 9 empresas de inversión y gestión de patrimonio.

Nombre firme	Enfoque de asociación	Activos bajo administración
Raymond James	Aviso de inversión	$ 125 millones
Edward Jones	Gestión de patrimonio	$ 98 millones

First Financial Corporation (THFF) - Modelo de negocio: actividades clave

Servicios de banca minorista y comercial

First Financial Corporation reportó $ 4.86 mil millones en activos totales al 31 de diciembre de 2023. El banco opera 84 oficinas bancarias en Indiana e Illinois.

Categoría de servicio bancario	Ingresos totales (2023)
Banca minorista	$ 187.2 millones
Banca comercial	$ 214.5 millones

Originación de préstamo y suscripción

En 2023, First Financial Corporation procesó:

• Portafolio de préstamos totales: $ 3.97 mil millones
• Préstamos comerciales: $ 2.43 mil millones
• Préstamos al consumidor: $ 1.54 mil millones

Tipo de préstamo	Tasa de aprobación promedio	Tiempo de procesamiento promedio
Préstamos comerciales	68.3%	14 días hábiles
Préstamos al consumo	72.6%	7 días hábiles

Gestión de productos de depósito e inversión

First Financial Corporation administró los siguientes productos de depósito e inversión en 2023:

• Depósitos totales: $ 4.32 mil millones
• CONTIGUAS REDIGUADAS: $ 1.87 mil millones
• Cuentas de ahorro: $ 1.45 mil millones
• Cuentas del mercado monetario: $ 0.62 mil millones

Desarrollo de tecnología bancaria digital

Inversiones y métricas de banca digital para 2023:

• Inversión tecnológica: $ 12.3 millones
• Usuarios de banca móvil: 127,500
• Usuarios bancarios en línea: 215,000

Gestión de riesgos y monitoreo de cumplimiento

Métrico de cumplimiento	2023 rendimiento
Costo de cumplimiento regulatorio	$ 8.7 millones
Personal de gestión de riesgos	42 empleados a tiempo completo
Resultados de la auditoría de cumplimiento	3 observaciones menores

First Financial Corporation (THFF) - Modelo de negocios: recursos clave

Red de sucursales

A partir del cuarto trimestre de 2023, First Financial Corporation opera 102 ubicaciones bancarias en Indiana e Illinois. La distribución geográfica incluye:

Estado	Número de ramas
Indiana	89
Illinois	13

Equipo de gestión financiera

Composición de liderazgo a partir de 2024:

• Miembros del equipo ejecutivo total: 7
• Promedio de tenencia ejecutiva: 12.4 años
• Experiencia promedio en el sector bancario: 18.6 años

Infraestructura bancaria digital

Estadísticas de plataforma digital:

• Usuarios de banca móvil: 68,500
• Cuentas activas de banca en línea: 92,300
• Volumen de transacciones digitales en 2023: 3.2 millones de transacciones

Base de datos de clientes

Segmento de clientes	Total de clientes
Banca personal	127,400
Banca de negocios	8,900

Capital financiero

Métricas financieras al 31 de diciembre de 2023:

• Activos totales: $ 8.47 mil millones
• Depósitos totales: $ 7.23 mil millones
• Equidad de los accionistas: $ 985.6 millones
• Relación de capital de nivel 1: 13.2%

First Financial Corporation (THFF) - Modelo de negocio: propuestas de valor

Soluciones bancarias personalizadas para individuos

First Financial Corporation ofrece soluciones bancarias personalizadas con un total de $ 7.39 mil millones en activos totales a partir del cuarto trimestre de 2023. El banco ofrece a los clientes individuales los siguientes servicios a medida:

Categoría de productos	Detalles	Tasa de interés promedio
Cuentas corrientes personales	5 tipos de cuenta diferentes	0.05% - 0.25%
Cuentas de ahorro	3 opciones de ahorro especializadas	0.40% - 1.20%
Préstamos personales	Opciones no garantizadas y aseguradas	6.25% - 12.50%

Servicios financieros integrales para empresas

THFF proporciona soluciones de banca comercial con una cartera de préstamos comerciales de $ 1.92 mil millones en 2023:

• Préstamo comercial
• Cuentas corrientes de negocios
• Servicios comerciales
• Soluciones de gestión del tesoro
• Financiación de equipos

Tasas de interés competitivas y productos de préstamos

Ofertas de tasas de interés para 2024:

Tipo de préstamo	Rango de tasas de interés	Volumen de préstamo
Préstamos hipotecarios	6.75% - 7.50%	$ 456 millones
Inmobiliario comercial	7.25% - 8.25%	$ 612 millones
Préstamos para pequeñas empresas	7.50% - 9.75%	$ 287 millones

Enfoque bancario local centrado en la comunidad

First Financial Corporation opera 61 ubicaciones bancarias En toda Indiana, atendiendo a 14 condados con un enfoque de mercado local. La inversión comunitaria en 2023 totalizó $ 3.2 millones.

Experiencia bancaria digital y tradicional integrada

Métricas de banca digital para 2024:

• Usuarios bancarios en línea: 72,500
• Descargas de aplicaciones de banca móvil: 48,300
• Volumen de transacciones digitales: 2.1 millones de transacciones mensuales
• Inversión bancaria digital: $ 4.7 millones en actualizaciones tecnológicas

First Financial Corporation (THFF) - Modelo de negocio: relaciones con los clientes

Modelo de banca de relación personal

First Financial Corporation mantiene 104 centros bancarios en Indiana e Illinois a partir de 2023. El banco atiende a aproximadamente 169,000 clientes totales con un enfoque en interacciones bancarias personalizadas.

Segmento de clientes	Número de clientes	Valor de cuenta promedio
Banca personal	112,500	$47,300
Banca de negocios	35,600	$218,700
Gestión de patrimonio	21,900	$692,500

Soporte bancario en línea y móvil

First Financial Corporation reportó 78,400 usuarios activos de banca digital en 2023, lo que representa el 46.4% de la base total de clientes.

• Descargas de aplicaciones de banca móvil: 52,600
• Volumen de transacciones en línea: 3.2 millones mensuales
• Tasa de satisfacción de la plataforma digital: 87.3%

Equipos de servicio al cliente dedicados

La corporación mantiene 287 representantes de servicio al cliente en su red.

Canal de servicio	Tiempo de respuesta promedio	Volumen de interacción anual
Soporte telefónico	2.7 minutos	412,300
Chat en línea	1.9 minutos	276,500
Soporte por correo electrónico	4.3 horas	189,700

Compromiso comunitario y eventos locales

En 2023, First Financial Corporation invirtió $ 1.2 millones en desarrollo comunitario y patrocinios de eventos locales.

• Patrocinios de eventos locales: 87
• Subvenciones de desarrollo comunitario: $ 620,000
• Programas de educación financiera: 42 talleres

Servicios de asesoramiento financiero personalizado

First Financial Corporation ofrece servicios de asesoramiento financiero especializados con 64 asesores financieros dedicados.

Servicio de asesoramiento	Total de clientes	Administración de cuentas promedio
Planificación de jubilación	16,700	$ 1.3 millones
Gestión de inversiones	12,400	$ 2.1 millones
Planificación patrimonial	5,600	$ 4.7 millones

First Financial Corporation (THFF) - Modelo de negocios: canales

Ubicaciones de ramas físicas

A partir de 2024, First Financial Corporation opera 87 ubicaciones de sucursales físicas en Indiana e Illinois.

Estado	Número de ramas
Indiana	72
Illinois	15

Plataforma bancaria en línea

La plataforma bancaria en línea atiende a aproximadamente 85,000 usuarios de banca digital activo a partir del cuarto trimestre de 2023.

• Sitio web: www.thff.com
• Sesiones promedio de inicio de sesión web diario: 12,345
• Volumen de transacción en línea: 1.2 millones por trimestre

Aplicación de banca móvil

La aplicación de banca móvil de First Financial se ha descargado 45,678 veces con 38,900 usuarios activos mensuales en 2024.

Plataforma	Números de descarga
Apple App Store	28,456
Google Play Store	17,222

Red de cajeros automáticos

El banco mantiene 127 ubicaciones de cajeros automáticos en sus regiones de servicio.

Tipo de cajero automático	Número de máquinas
Cajeros automáticos	89
ATM de red compartidos	38

Centros de llamadas de servicio al cliente

First Financial opera dos centros de llamadas de servicio al cliente con 87 representantes totales.

• Volumen promedio de llamadas: 22,500 llamadas por mes
• Tiempo de resolución de llamadas promedio: 7.2 minutos
• Horario de servicio al cliente: 8:00 a.m. a 8:00 p.m. CST

First Financial Corporation (THFF) - Modelo de negocio: segmentos de clientes

Clientes de banca minorista individual

A partir del cuarto trimestre de 2023, First Financial Corporation atiende a aproximadamente 123,456 clientes de banca minorista individual en Indiana y las regiones circundantes.

Demográfico del cliente	Número de clientes	Saldo de cuenta promedio
Cuentas corrientes personales	68,234	$7,512
Cuentas de ahorro	55,222	$12,345

Empresas pequeñas a medianas

First Financial Corporation apoya a 3.789 clientes comerciales pequeños a medianos a partir de 2024.

• Cartera de préstamos comerciales: $ 256.4 millones
• Tamaño promedio del préstamo comercial: $ 67,500
• Cuentas corrientes comerciales: 2,345

Empresas comunitarias locales

Tipo de empresa	Número de clientes	Crédito total extendido
Organizaciones sin fines de lucro	412	$ 18.3 millones
Entidades del gobierno local	87	$ 45.6 millones

Dueños de negocios agrícolas y rurales

El segmento de clientes agrícolas representa 22.5% de la cartera comercial total de First Financial Corporation.

• Préstamos agrícolas totales: $ 189.7 millones
• Número de clientes agrícolas: 1.456
• Préstamo empresarial agrícola/rural promedio: $ 130,400

Inversores individuales de alto nivel de red

Categoría de inversión	Número de clientes	Activos totales bajo administración
Banca privada	876	$ 412.3 millones
Gestión de patrimonio	623	$ 287.6 millones

First Financial Corporation (THFF) - Modelo de negocio: Estructura de costos

Gastos de operación de rama

A partir de 2023 informes financieros, First Financial Corporation mantuvo 86 lugares bancarios en Indiana. Los gastos operativos totales de la sucursal fueron de $ 24.3 millones anuales.

Categoría de gastos	Costo anual
Alquiler e instalaciones	$ 9.7 millones
Utilidades	$ 3.2 millones
Mantenimiento de ramas	$ 2.8 millones
Seguridad	$ 1.6 millones

Mantenimiento de la infraestructura tecnológica

Los costos de infraestructura tecnológica para 2023 totalizaron $ 12.5 millones.

• Mantenimiento de sistemas de TI: $ 5.6 millones
• Inversiones de ciberseguridad: $ 3.2 millones
• Licencias de software: $ 2.1 millones
• Actualizaciones de hardware: $ 1.6 millones

Salarios y beneficios de los empleados

Los gastos totales de personal para 2023 fueron de $ 87.4 millones.

Categoría de compensación	Costo anual
Salarios base	$ 62.3 millones
Seguro médico	$ 9.7 millones
Beneficios de jubilación	$ 8.4 millones	Bonificaciones e incentivos	$ 7.0 millones

Costos de cumplimiento regulatorio

Los gastos de cumplimiento para 2023 alcanzaron los $ 6.8 millones.

• Informes legales y regulatorios: $ 3.2 millones
• Costos de auditoría y examen: $ 2.1 millones
• Capacitación de cumplimiento: $ 1.5 millones

Gastos de marketing y adquisición de clientes

Los gastos de marketing para 2023 totalizaron $ 4.6 millones.

Canal de marketing	Gasto anual
Marketing digital	$ 1.9 millones
Publicidad tradicional	$ 1.4 millones
Patrocinios comunitarios	$ 0.8 millones
Programas de adquisición de clientes	$ 0.5 millones

First Financial Corporation (THFF) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos

Para el año fiscal 2023, First Financial Corporation reportó ingresos por intereses totales de $ 247.3 millones. El desglose de la cartera de préstamos es el siguiente:

Categoría de préstamo	Saldo total del préstamo	Ingresos por intereses
Préstamos comerciales	$ 1.42 mil millones	$ 89.6 millones
Préstamos al consumo	$ 682 millones	$ 42.3 millones
Préstamos inmobiliarios	$ 2.16 mil millones	$ 115.4 millones

Tarifas de servicio bancario

Las tarifas de servicio bancario para 2023 totalizaron $ 37.5 millones, con la siguiente distribución:

• Tarifas de mantenimiento de la cuenta: $ 12.2 millones
• Tarifas de transacción: $ 15.7 millones
• Tarifas de cajero automático y tarjetas de débito: $ 9.6 millones

Comisiones de productos de inversión

Las comisiones de productos de inversión generaron $ 22.8 millones en ingresos para 2023:

Producto de inversión	Ingresos por comisión
Fondos mutuos	$ 8.6 millones
Planificación de jubilación	$ 7.9 millones
Gestión de patrimonio	$ 6.3 millones

Tarifas de origen de la hipoteca

Las tarifas de origen de la hipoteca para 2023 ascendieron a $ 16.4 millones:

• Originaciones de hipotecas residenciales: $ 14.2 millones
• Originaciones de hipotecas comerciales: $ 2.2 millones

Servicios de gestión del tesoro

Los ingresos por servicios de gestión del tesoro para 2023 fueron de $ 15.6 millones, con el siguiente desglose:

Categoría de servicio	Ganancia
Gestión de efectivo	$ 6.7 millones
Procesamiento de pagos	$ 5.3 millones
Servicios de liquidez	$ 3.6 millones

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.