Fannie Mae, Freddie Mac shares tumble after conservatorship comments
TERRE HAUTE, IN – First Financial (NYSE:SSB) Corporation (NASDAQ:THFF), a state commercial bank headquartered in Indiana with a market capitalization of $521 million and a P/E ratio of 11, announced the outcomes of its annual shareholder meeting held on Tuesday. According to InvestingPro data, the company maintains a healthy 4.6% dividend yield and has consistently paid dividends for 43 consecutive years. The company confirmed the re-election of six directors and the approval of executive compensation, as well as the ratification of its public accounting firm for the current fiscal year.
Shareholders cast their votes to re-elect W. Curtis Brighton, Michael A. Carty, William R. Krieble, Tina J. Maher, and Ronald K. Rich as directors, each to serve a three-year term expiring in 2028. The vote counts revealed a strong majority in favor, with the lowest support being for Ronald K. Rich, who still received a significant majority of 6,852,587 votes for re-election against 1,595,466 votes withheld. There were also 1,981,104 broker non-votes noted for the director election proposal.
In a non-binding advisory vote, the shareholders also approved the 2024 compensation package for the corporation’s named executive officers, as detailed in the proxy statement. The approval saw 7,736,179 votes in favor, with 334,873 against and 105,936 abstentions, accompanied by 1,981,104 broker non-votes.
Additionally, the appointment of Crowe LLP as the independent registered public accounting firm for the year ending December 31, 2025, was ratified with a substantial majority of 9,672,785 votes for, 450,614 against, and 34,693 abstentions.
The company’s adherence to formal procedures and the transparency of the voting outcomes reflect First Financial Corporation’s commitment to corporate governance and shareholder engagement. InvestingPro analysis reveals three analysts have revised their earnings upward for the upcoming period, suggesting positive momentum. The results of the meeting are based on a press release statement and signify the shareholders’ trust in the current leadership and financial oversight as the company continues its operations throughout 2025, with its next earnings report scheduled for April 29, 2025. Based on InvestingPro’s Fair Value analysis, the stock currently appears undervalued compared to its fundamentals. Discover more insights and detailed financial metrics with InvestingPro, which offers additional ProTips and comprehensive analysis tools.
Rodger A. McHargue, Secretary/Treasurer and Chief Financial Officer of First Financial Corporation, signed off on the report, ensuring compliance with the Securities Exchange Act of 1934. The company’s business address is One First Financial Plaza, Terre Haute, Indiana, where it manages its operations.
In other recent news, First Financial Corporation has announced a quarterly dividend of 51 cents per share. This dividend is scheduled to be paid on April 15, 2025, to shareholders on record as of April 1, 2025. The decision to declare this dividend aligns with First Financial Corporation’s ongoing practice of returning value to its investors. Dividends are often regarded as a sign of a company’s financial health and stability, providing investors with a source of income. Regular dividend payments can also reflect the company’s confidence in its future earnings and financial outlook. The announcement was made through an official press release from First Financial Corporation. Investors will likely continue to monitor the company’s future dividend declarations as indicators of its financial position and strategic direction.
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