First Financial Corporation (NASDAQ: THFF) reported financial results for the three and nine months ended September 30, 2026, in a Form 8-K filed on October 27, 2026. The company reported net income of $27.4 million for the third quarter of 2026, an increase from $20.8 million in the same period of 2025. Diluted net income per common share was $2.31 for the third quarter of 2026, compared to $1.75 in the prior year.
For the nine months ended September 30, 2026, net income totaled $70.0 million, up from $57.8 million in the first nine months of 2025. Diluted earnings per share for the nine-month period were $5.89, compared to $4.87 in the prior year. The company recorded a benefit from credit losses of $750 thousand for the third quarter of 2026, compared to a provision expense of $2.0 million in the prior year.
First Financial reported a record net interest income of $63.5 million for the third quarter of 2026, an increase of $8.9 million, or 16.3%, from the same period in 2025. The net interest margin for the quarter was 4.51%, compared to 4.25% in the prior year. Total loans outstanding as of September 30, 2026, were $4.41 billion, an increase of $444 million, or 11.20%, from $3.97 billion as of September 30, 2025. Average total loans for the quarter were $4.45 billion, an increase of $520 million, or 13.23%, from the comparable period in 2025.
Total deposits as of September 30, 2026, were $4.87 billion, compared to $4.62 billion as of September 30, 2025. Shareholders' equity at September 30, 2026, was $660.4 million, compared to $622.2 million on September 30, 2025. Book value per share was $55.54 as of September 30, 2026, compared to $52.50 as of September 30, 2025.
The company announced that on August 26, 2026, it entered into an Agreement and Plan of Merger with First Illinois Corporation. Under the terms of the agreement, each outstanding share of First Illinois common stock will be converted into the right to receive either 0.5727 shares of First Financial common stock or $44.35 in cash, with 70% of the stock to be exchanged for shares and 30% for cash. The merger is expected to close in the first quarter of 2027.
