First Financial Corp. Announces CFO Succession: Rodger McHargue to Retire; Paul Nungester Appointed

First Financial Corporation (NASDAQ: THFF) has announced a leadership transition within its executive ranks. On September 15, 2026, the company disclosed that Rodger A. McHargue, the Secretary/Treasurer and Chief Financial Officer, has provided notice of his retirement, effective December 31, 2026. Mr. McHargue has served as CFO since 2010.

The Board of Directors has appointed Paul D. Nungester, Jr., age 52, to succeed Mr. McHargue. Mr. Nungester will assume the role of Secretary/Treasurer and Chief Financial Officer effective January 1, 2027. Mr. Nungester joined First Financial in August 2026 as Senior Vice President and Director of Finance.

According to the filing, Mr. Nungester brings nearly 30 years of financial and leadership experience. Prior to joining First Financial, he served as Executive Vice President and Chief Financial Officer of Premier Financial Corporation from 2018 to 2025. Before that, he was the Director of Finance and Accounting for Inveniam Capital Partners, Inc. from 2025 until March 2026.

The company has entered into a new employment agreement with Mr. Nungester effective September 1, 2026. The agreement runs through June 30, 2028, with the possibility of one-year extensions. Under the terms of the agreement, Mr. Nungester will receive an annual base salary of $375,000. He is also eligible for bonuses and benefits available to executive officers.

The agreement outlines severance terms in the event of termination. If employment ends without just cause or for good reason (outside of a 12-month window following a change in control), Mr. Nungester is entitled to receive his base salary and bonuses through the end of the term, along with cash reimbursements for benefits. In the event of a change in control, he is eligible for a severance amount equal to two times the sum of his base salary and prior year bonuses, plus two years of benefit reimbursements.

The filing confirms there are no family relationships between Mr. Nungester and the company's directors or executive officers, and he has no direct or indirect material interest in any transactions required to be disclosed.