Mergers & Acquisitions ·
First Financial Corporation (NASDAQ: THFF) entered into a definitive Agreement and Plan of Merger with First Illinois…
THFFFirst Financial Corp
First Financial Corporation (NASDAQ: THFF) entered into a definitive Agreement and Plan of Merger with First Illinois Corporation on August 26, 2026. Under the transaction, First Illinois will merge into First Financial, with First Financial as the surviving corporation. The merger consideration allows First Illinois shareholders to elect between receiving $44.35 in cash or 0.5727 shares of THFF common stock per share, with a target mix of 30% cash and 70% stock. Based on THFF’s August 26 closing price of $79.07, the aggregate transaction value is approximately $111.3 million, implying an implied purchase price of $45.00 per share for First Illinois. The combined entity will hold approximately $6.9 billion in total assets and expand THFF’s presence into central Illinois through Hickory Point Bank and Trust’s eight branches. The deal received unanimous board approval from both companies and is expected to close in the fourth quarter of 2026, subject to customary regulatory and shareholder approvals. First Financial Corporation operates as a community bank holding company.