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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950137-05-009379.txt : 20050801
<SEC-HEADER>0000950137-05-009379.hdr.sgml : 20050801
<ACCEPTANCE-DATETIME>20050801171906
ACCESSION NUMBER:		0000950137-05-009379
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050801
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050801
DATE AS OF CHANGE:		20050801

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST FINANCIAL CORP /IN/
		CENTRAL INDEX KEY:			0000714562
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				351546989
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-16759
		FILM NUMBER:		05989215

	BUSINESS ADDRESS:	
		STREET 1:		ONE FIRST FINANCIAL PLAZA
		CITY:			TERRE HAUTE
		STATE:			IN
		ZIP:			47807
		BUSINESS PHONE:		(812) 238-6000

	MAIL ADDRESS:	
		STREET 1:		ONE FIRST FINANCIAL PLAZA
		CITY:			TERRE HAUTE
		STATE:			IN
		ZIP:			47807

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TERRE HAUTE FIRST CORP
		DATE OF NAME CHANGE:	19850808
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c97196e8vk.txt
<DESCRIPTION>CURRENT REPORT
<TEXT>
<PAGE>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT
     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

     Date of Report (Date of earliest event reported)   August 1, 2005

     First Financial Corporation
     (Exact name of registrant as specified in its chapter)


     Indiana                            000-16759          35-1546989
     (State or other jurisdiction       (Commission        (IRS Employer
     of incorporation)                  File Number)       Identification No.)


     P. O. Box 540, Terre Haute, Indiana            47808
     (Address of principal executive offices)       (Zip Code)

     Registrant's telephone number, including area code    812-238-6264

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

     [ ]  Written communication pursuant to Rule 425 under the Securities Act
          (17 CFR 230.425)

     [ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
          (17 CFR 240.14a-12)

     [ ]  Pre-commencement communication pursuant to Rule 14d-2(b) under the
          Exchange Act (17 CFR 240.14d-2(b))

     [ ]  Pre-commencement communication pursuant to Rule 13e-4(c) under the
          Exchange Act (17 CFR 240.13e-4(c))

<PAGE>

ITEM 2.02.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION

ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS

         On August 1, 2005, the Registrant issued a press release reporting its
financial results for the six months ended June 30, 2005. A copy of the press
release is being furnished as an exhibit to this report and is incorporated by
reference into this item 12.

         The foregoing information, including the information contained in the
press release, is being furnished pursuant to this Item 12 and shall not be
deemed to be "filed" for purposes of section 18 of the Securities Exchange Act
of 1934, as amended, or otherwise subject to the liabilities of that Section or
Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. In addition,
this information shall not be deemed to be incorporated by reference into any of
the Registrant's filings with the Securities and Exchange Commission, except as
shall be expressly set forth by specific reference in any such filing.

         The exhibit to this report is as follows:

         Exhibit No.    Description
         -----------    -----------

            99.1        Press Release, dated August 1, 2005 issued by
                        First Financial Corporation



                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                      FIRST FINANCIAL CORPORATION

Dated   August 1, 2005
                                      /s/ Norman L. Lowery
                                      --------------------
                                      Norman L. Lowery
                                      Vice Chairman and Chief Executive Officer

Dated   August 1, 2005                /s/ Michael A. Carty
                                      --------------------
                                      Michael A. Carty
                                      Secretary/Treasurer and Chief Financial
                                      Officer




                                  Exhibit Index
Exhibit Number

      99.1          Press Release, August 1, 2005 issued by First Financial
                    Corporation

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c97196exv99w1.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
<PAGE>
                                                                    NEWS RELEASE

[FIRST FINANCIAL CORPORATION LOGO] FIRST FINANCIAL
                                   CORPORATION

One First Financial Plaza, Terre Haute, IN 47807  o  (812) 238-6000

FOR IMMEDIATE RELEASE                         For more information contact:
August 1, 2005                                Michael A. Carty at (812) 238-6264

 FIRST FINANCIAL CORPORATION REPORTS SECOND QUARTER EARNINGS OF $.37 PER SHARE

TERRE HAUTE, INDIANA - First Financial Corporation (NASDAQ:THFF) today announced
the results for the second quarter of 2005 with net income for the three-month
period ended June 30, 2005 of $5.0 million or $.37 per share. Earnings for the
six-months ended June 30, 2005 are $11.3 million. Loans at June 30, 2005
increased $1.7 million to $1.46 billion and deposits increased $59.6 million to
$1.49 billion from the previous year quarter end.

Rising interest rates have had a positive impact on the Corporation's net
interest income, which for the first six months of 2005 increased by $935
thousand or 2.62% over the same period in 2004. The net interest margin
increased to 3.95% for the six-months ended June 30, 2005 from 3.77% for the
same period in 2004. This 4.8% increase was driven by growth in the yield on
earning assets which outpaced the average cost of funds.

The modest amount of loan growth for the year has allowed the Corporation to
direct attention to aggressively addressing some potential asset quality
concerns during the second quarter. Letters of intent to sell several
non-performing loans were entered into during the period. This has resulted in
larger than normal net charge-offs for the quarter, as these loans will be sold
at a discount. This will allow the Corporation to reinvest the proceeds into
performing assets to improve future results. A $1.5 million addition to the
allowance for loan and leases losses was made to recognize the additional losses
resulting from this decision. At period end the allowance was 1.2% of loans
outstanding.

Non-interest income for the second quarter of 2005 was $7.8 million compared to
$8.3 million for the same period in 2004. This reduction of approximately $500
thousand primarily resulted from $391 thousand less gain on the sale of
investment securities for the 3 months ended June 30, 2005 compared to the same
period of 2004. The year-to-date non-interest income is $5.4 million less than
last year's performance largely as a result of the previously reported
non-taxable gain on life insurance realized in the first quarter of 2004.

Benefits continue to be realized from the consolidation of affiliate banks into
one bank as second quarter non-interest expense was lower than the same period
in 2004. Non-interest expense for the second quarter and the six-months ended
June 30, 2005 is $95 thousand and $286 thousand less, respectively, than the
same periods in 2004. Seven of the eight subsidiary banks have completed the
consolidation process and now operate as First Financial Bank.

<PAGE>

A $59.6 million or 4.2% increase in deposits from June 30, 2004 to June 30, 2005
was used to fund loans and reduce borrowings. Average assets decreased $70.7
million, or 3.19%. The decrease primarily resulted from the Corporation's use of
maturing investments to retire debt. Shareholder's equity increased $8.7
million, or 3.3%, and book value per share rose by $.79 to $20.04, or 4.1%.

First Financial Corporation is the holding company for First Financial Bank NA
in Indiana and Illinois; The Morris Plan Company of Terre Haute and Forrest
Sherer Inc. in Indiana; and First Community Bank NA in Illinois.

This document contains forward-looking statements. Forward-looking statements
provide current expectations or forecasts of future events and are not
guarantees of future performance, nor should they be relied upon as representing
management's views as of any subsequent date. The forward-looking statements are
based on management's expectations and are subject to a number of risks and
uncertainties. Although management believes that the expectations reflected in
such forward-looking statements are reasonable, actual results may differ
materially from those expressed or implied in such statements. Risks and
uncertainties that could cause actual results to differ materially include,
without limitation, the Corporation's ability to effectively execute its
business plans; changes in general economic and financial market conditions;
changes in interest rates; changes in the competitive environment; continuing
consolidation in the financial services industry; new litigation or changes in
existing litigation; losses, customer bankruptcy, claims and assessments;
changes in banking regulations or other regulatory or legislative requirements
affecting the Corporation's business; and changes in accounting policies or
procedures as may be required by the Financial Accounting Standards Board or
other regulatory agencies. Additional information concerning factors that could
cause actual results to differ materially from those expressed or implied in the
forward-looking statements is available in the Corporation's Annual Report on
Form 10-K for the year ended December 31, 2004, and subsequent filings with the
United States Securities and Exchange Commission (SEC). Copies of these filings
are available at no cost on the SEC's Web site at WWW.SEC.GOV or on the
Corporation's Web site AT WWW.FIRST-ONLINE.COM. Management may elect to update
forward-looking statements at some future point; however, it specifically
disclaims any obligation to do so.


<PAGE>

                           FIRST FINANCIAL CORPORATION

             FOR THE QUARTER AND THE SIX MONTHS ENDING JUNE 30, 2005

               (Dollar amounts in thousands except per share data)


<TABLE>
<CAPTION>
                                  06/30/05        06/30/04         CHANGE        % CHANGE
<S>                              <C>             <C>             <C>             <C>
YEAR TO DATE INFORMATION:

Net Income                       $   11,303      $   17,014      $   (5,711)      -33.57%
Earnings Per Average Share       $     0.84      $     1.26      $    (0.42)      -33.33%
Return on Assets                      1.05%           1.52%          -0.47%       -30.97%
Return on Equity                      8.30%          12.96%          -4.66%       -35.96%
Net Interest Margin                   3.95%           3.77%           0.18%         4.77%
Net Interest Income              $   36,621      $   35,686      $      935         2.62%
Non-Interest Income              $   15,539      $   20,898      $   (5,359)      -25.64%
Non-Interest Expense             $   31,118      $   31,404      $     (286)       -0.91%
Loan Loss Provision              $    6,006      $    3,846      $    2,160        56.16%
Net Charge Offs                  $    8,360      $    3,270      $    5,090       155.66%
Efficiency Ratio                     56.94%          56.74%           0.20%         0.35%


QUARTER TO DATE INFORMATION:

Net Income                       $    4,992      $    6,329      $   (1,337)      -21.12%
Earnings Per Average Share       $     0.37      $     0.47      $    (0.10)      -21.28%
Return on Assets                      0.93%           1.11%          -0.18%       -16.22%
Return on Equity                      7.34%           9.78%          -2.44%       -24.95%
Net Interest Margin                   3.98%           3.76%           0.22%         5.85%
Net Interest Income              $   18,278      $   17,753      $      525         2.96%
Non-Interest Income              $    7,807      $    8,321      $     (514)       -6.18%
Non Interest Expense             $   15,777      $   15,872      $      (95)       -0.60%
Loan Loss Provision              $    3,783      $    1,923      $    1,860        96.72%
Net Charge Offs                  $    6,137      $    1,505      $    4,632       307.77%
Efficiency Ratio                     57.99%          57.81%           0.18%         0.31%


BALANCE SHEET:

Assets                           $2,157,759      $2,211,921      $  (54,162)        2.45%
Deposits                         $1,489,608      $1,430,048      $   59,560         4.16%
Loans                            $1,461,131      $1,459,481      $    1,650         0.11%
Shareholders' Equity             $  268,545      $  259,876      $    8,669         3.34%
Book Value Per Share             $    20.04      $    19.25      $     0.79         4.09%
Average Assets                   $2,150,014      $2,220,750      $  (70,736)       -3.19%
</TABLE>


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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