PART I REGISTRANT INFORMATION
U. S. SECURITIES AND EXCHANGE COMMISSION
FORM NT 10-K
For year ended December 31, 1996
Commission file number 0-5559
First Financial Corporation
Exact name of registrant as specified in its charter)
Texas 74-1502313
(State or other jurisdiction of (I. R. S. Employer
incorporation or organization) Identification)
800 Washington Avenue, Waco, Texas 76701
(Address of principal execute offices) (Zip Code)
Registrant's telephone number, including area code (817)757-
2424
PART II RULES 12b-25(b) AND (c)
(a) The reasons described in reasonable detail in Part III
of this form could not be eliminated without
unreasonable effort or expense;
(b) The subject annual report will be filed on or before
the fifteenth calendar day following the prescribed due
date.
(c) The accountant's statement required by Rule 12b-25(c)
has been included.
PART III NARRATIVE
The Registrant is unable to timely file its Form 10-KSB for
the period ended December 31, 1996, because the auditors
have not completed the audited financial statements of the
Registrant and are unable to complete such financial
statements without unreasonable effort and expense. The
Registrant was unable to obtain certain information related
to contingencies in a timely manner and additional time is
required to determine their impact on the Registrant's
financial statements and required disclosures.
The Company will reflect net income for 1996 of
approximately $231,000 compared to net income of $234,449
for 1995. In general, the 1996 income is due to the
Company's negative provision for losses under manufactured
home servicing agreements as a result of the continued
decrease in the amount of loans serviced under these
agreements and the Company's belief that its exposure to
potential losses has declined. In addition, the Company's
results of operations was negatively impacted by the
Company's share of the net loss of Key Group, LTD., which
increased to $90,392 in 1996 compared to $61,124 in 1995.
PATTILLO, BROWN, & HILL, L.L.P.
First Financial Corporation and Subsidiaries
Waco, Texas
Pursuant to Rule 12B-25 of the General Rules and Regulations
under Securities and Exchange Act of 1934, we inform you
that we have been furnished a copy of Form 12B-25 to be
filed by First Financial Corporation and Subsidiaries (FFC)
on or about March 27, 1997, which contains notification of
the registrant's inability to file its Form 10-KSB by March
31, 1997. We have read FFC's statements contained in Part
III therein and we agree with the stated reason as to why we
have been unable to complete our audit and report on the
financial statements for the year ended December 31, 1996 to
be included in the Form 10-KSB.
signed: Pattillo Brown & Hill LLP March 27, 1997
Waco, Texas
PART IV OTHER INFORMATION
(1) Name and telephone number of person to contact in
regard to this notification
Robert L. Harris (817)757-2424
(2) Have all other periodic reports under Section 13 or
15(d) of the Securities Exchange Act of 1934 or Section
30 of the Investment Company Act of 1940 during the
preceding 12 months (or for such shorter period that
the registrant was required to file such reports) been
filed? If answer is no, identify report(s).
Yes.
(3) Is it anticipated that any significant change in
results of operations from the corresponding period for
the last fiscal year will be reflected by the earnings
statements to be included in the subject report or
portion thereof?
Yes.
If so, attach an explanation of the anticipated change,
both narratively and quantitatively, and, if
appropriate, state the reasons why a reasonable
estimate of the results can not be made.
See Narrative Section.
First Financial Corporation has caused this
notification to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: March 28, 1997 By:Robert L. Harris,
Vice President
