First Financial Announces Branch Closings

(photo courtesy of First Financial Corp.)

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Terre Haute-based First Financial Corp. (Nasdaq: THFF) says it plans to close nine of its 81 branches over the next two quarters. The banking company says the closures are part of plans to “optimize” its banking network and improve operating efficiencies.

First Financial says the closings are in addition to the consolidation of its Terre Haute Maple Avenue and Plaza North branches into one new bank.

“Our customers are rapidly adopting our online banking platforms which provides us with an opportunity to consolidate these branches into other nearby locations while maintaining the high level of service our customers expect,” said First Financial Chairman Norman Lowery.

First Financial says the closings should save the company about $2.3 million per year in operating costs.