FIRST FINANCIAL CORP /IN/ — Form 8-K/A
Filed August 27, 2026 · analyzed by the 8-K Agent
8-K/A
— Neutral
significance 72/100
What the filing says
First Financial Corporation (Indiana, $584.2M market cap) is acquiring First Illinois Corporation via all-stock merger with cash option. Exchange ratio: 0.5727 Buyer shares per Company share, or $44.35 cash per share. Company shareholders can elect stock or cash (max 727,377 shares cash; 1,697,213 shares stock). Equity awards: Company RSAs vest, stock options and SARs canceled for cash payments. Merger consideration subject to $82.4M equity floor adjustment. Deal signed August 26, 2026.
Why this rating
Transformational deal—First Financial acquires peer bank ~22% its size ($82.4M equity target implies ~$100M+ deal value). Relative to buyer's $584.2M cap, represents 15-17% of size; meaningful but not business-defining. Regulatory approval, shareholder vote, and integration risk. Timing and terms appear routine for bank M&A.
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