PART I REGISTRANT INFORMATION
U. S. SECURITIES AND EXCHANGE COMMISSION
FORM NT 10-K
For
year ended December 31, 2001
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 (254)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, 2001, 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 of approximately $317,000 compared to a net loss of $(154,615) for 2000. In general, the Company's net income is due to the significant increase in the Company's residential mortgage loan fundings during 2001, and a corresponding increase in the realized gain on the sale of the residential mortgage loans. The Company's results of operations include the Company's share of the net income of Key Group, Ltd., which amounted to approximately $278,000 in 2001 compared to a net loss of $(383,738) in 2000.
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 NT 10-K to be filed by First Financial Corporation and Subsidiaries (FFC) on or about March 28, 2002, which contains notification of the registrant's inability to file its Form 10-KSB by March 31, 2002. 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, 2001 to be included in the Form 10-KSB.
signed: Pattillo Brown & Hill LLP
March 25, 2002
Waco, Texas
PART IV OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
Annie Laurie Miller (254)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, 2002 By:Annie Laurie Miller
Executive Vice
President