First Financial Nearly Doubles Profit

(photo courtesy Southwest Indiana Chamber)

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Terre Haute-based First Financial Corp. (Nasdaq: THFF) is reporting second quarter net income of $15.3 million, up from $8.4 million during the same period last year. The parent of First Financial Bank says it also saw increases in average total loans and deposits.

The bank says the increase included the recovery of a security which included $6.9 million pre-tax to interest and other income. Chief Executive Officer Norman Lowery said the bank experienced a "very solid" quarter.

"We are pleased with our second quarter 2018 results as we experienced another quarter of loan growth which contributed to our increased interest income," said Lowery. "Excluding the recovery on the security, our core fee income increased as well."

First Financial is also reporting net income of $24.2 million for the first half of the year, up from $17.7 million for the first six months of 2017. You can view the full earnings report by clicking here.