First Financial to Acquire First Illinois in $111.3M Stock/Cash Deal, Adding Hickory Point Bank
THFF sits 56% above its 52-week low of $51.21 on light trading volume (0.3× avg).
Summary
First Financial Corporation agreed to acquire First Illinois Corporation for approximately $111.3 million in a 70% stock / 30% cash transaction, adding Hickory Point Bank's 8 branches in central Illinois and expanding total assets to $6.9 billion.
Key Events · M&A and Partnerships · THFF
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Definitive Merger Agreement Signed
First Financial Corporation entered into an Agreement and Plan of Merger with First Illinois Corporation on August 26, 2026, with First Illinois merging into First Financial as the surviving corporation.
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$111.3M Transaction Value
Based on THFF's closing price of $79.07 on August 26, 2026, the transaction values First Illinois at approximately $111.3 million, with an implied per-share price of $45.00.
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70/30 Stock/Cash Consideration
First Illinois shareholders may elect 0.5727 shares of THFF common stock or $44.35 cash per share, subject to 70% stock and 30% cash allocation with proration mechanisms.
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Pro Forma Financial Impact
Management projects ~7% EPS accretion by 2028, 3.2% tangible book value dilution at closing with a 2.3-year earnback, and 34% cost savings from First Illinois' noninterest expense base.
Analysis · THFF · Finance
First Financial Corporation signed a definitive agreement to acquire First Illinois Corporation, parent of Hickory Point Bank and Trust, in a transaction valued at approximately $111.3 million. First Illinois shareholders will receive either 0.5727 shares of THFF common stock or $44.35 in cash per share, with 70% stock and 30% cash allocation. The deal expands First Financial's Illinois footprint into Decatur, Springfield, and Champaign, adding $717 million in assets, $438 million in loans, and $627 million in deposits. Management projects ~7% EPS accretion by 2028, 3.2% tangible book value dilution at closing with a 2.3-year earnback, and 34% cost savings from First Illinois' noninterest expense base. The transaction is expected to close in Q4 2026, subject to First Illinois shareholder approval and regulatory approvals. All six First Illinois directors have signed voting agreements covering 985,824 shares in favor of the merger.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 35.8% of the 1045 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, THFF was trading at $79.84 on NASDAQ in the Finance sector, with a market capitalization of approximately $949.4M. The 52-week trading range was $51.21 to $84.17. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.