Company is Terre Haute's only publicly traded corporation.
By Joanne Hammer
First Financial Corp. makes a unique mark on the map of Terre Haute as the only publicly traded corporation that has its headquarters in the city.
The corporation began as the oldest federally chartered bank in the state and can trace its beginnings to 1834, when the Terre Haute branch of the State Bank of Indiana began.
The company established its headquarters at First Financial Plaza, which was dedicated in 1988, and transformed an empty lot at the corner of Wabash Avenue and Sixth Street into a downtown centerpiece.
"First Financial is truly a corporate citizen," said Rod Henry, Terre Haute Chamber of Commerce president. "It's significant; it is the oldest federally chartered bank - it says a lot about its strength and commitment to community and heritage."
First Financial Corp. became the holding company for Terre Haute First National Bank in August 1984 and was the first multi-bank holding company in Indiana. It was able to do so a year before the practice was allowed because of a previous law that stated a bank that failed could be bought and operated as a newly chartered bank.
Many of the names associated with the corporation's early roots are found throughout city history: James Farrington, the bank's first cashier; Demas Deming, bank president; Chauncey Warren, secretary; and John D. Early, Curtis Gilbert and Chauncey Rose.
Although one of the former main buildings of the bank still stands at 643-645 Wabash Ave. as a historical landmark, First Financial Corp. has moved beyond its beginnings in Terre Haute.
Other banks added to First Financial Corp. include banks in the Indiana counties of Vermillion, Sullivan, Greene and Parke and in Illinois counties Clark, Crawford, Richland, Coles, Lawrence, Jasper and Wayne. Companies such as The Morris Plan Co. and Forrest Sherer Insurance also joined.
Though the corporation has grown, it has not lost sight of its community.
"It touches all parts of the community, not only with financial support but volunteer support," Henry said.
The corporation contributes directly to more than 135 individual agencies and organizations in the Wabash Valley through monetary support of projects, advertising and marketing assistance and underwriting for many community events.
"It has been our privilege to serve the citizens of Terre Haute since 1834," said Donald E. Smith, First Financial Corp. president and chairman. "We look forward to serving the financial needs of future generations."
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FIRST FINANCIAL FAST FACTS
Where to find First Financial: First Financial has 46 bank branches, 12 of which are in Vigo County.
How it contributes to the community: Employs more than 1,000. Employees also volunteer more than 1,500 hours each month with more than 200 Wabash Valley organizations.
What makes the corporation unique: The corporation is ranked among the top 100 most efficient bank holding companies in the nation by American Banker magazine. Its NASDAQ symbol is THFF.