First Financial Corporation Announces Stock Repurchase Plan

Rhea-AI Summary

First Financial Corporation (NASDAQ:THFF) has authorized a stock repurchase program to buy back up to 5% of its outstanding common stock. This initiative aims to enhance shareholder value and will be executed through open market transactions or privately negotiated deals, with the timing and amount dependent on market conditions. The repurchased shares will be held as authorized but unissued, and may be utilized for corporate purposes, reflecting the company's confidence in its financial stability.

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• Authorization of stock repurchase program for 5% of outstanding stock, enhancing shareholder value.

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• None.

TERRE HAUTE, Ind., July 21, 2021 (GLOBE NEWSWIRE) -- First Financial Corporation (NASDAQ:THFF) today announced that its Board of Directors has authorized a stock repurchase program to purchase up to 5% of the company's outstanding common stock.

The shares may be repurchased periodically in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of First Financial's stock, general market and economic conditions, and applicable legal requirements. Repurchased shares will be held by the Corporation as authorized but unissued shares and may be utilized for general corporate purposes.

About First Financial Corporation
First Financial Corporation (NASDAQ:THFF) is the holding company for First Financial Bank N.A. and The Morris Plan Company of Terre Haute, Inc. First Financial Bank N.A. is the fifth oldest national bank in the United States, operating 81 banking centers in Illinois, Indiana, Kentucky and Tennessee. The Morris Plan Company of Terre Haute, Inc. is a state industrial chartered financial institution operating one office in Terre Haute, Indiana. Additional information is available at www.first-online.bank.

Investor Contact:
Rodger A. McHargue
Chief Financial Officer
P: 812-238-6334
E: rmchargue@first-online.com

FAQ

What is the purpose of First Financial Corporation's stock repurchase program?

The stock repurchase program aims to enhance shareholder value by buying back up to 5% of the company's outstanding common stock.

When was the stock repurchase program announced for THFF?

The stock repurchase program was announced on July 21, 2021.

How will First Financial Corporation execute its stock buyback program?

The buyback will be executed through open market transactions, privately negotiated transactions, or other means compliant with federal securities laws.

What will happen to the shares repurchased under the program?

Repurchased shares will be held as authorized but unissued shares and may be used for general corporate purposes.

What factors will influence the timing and amount of shares repurchased by THFF?

The timing and number of shares bought back will depend on market price, economic conditions, and legal requirements.