What changed in this filing

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Item 1. Business

2026-03-04 compared with 2025-03-05 · 15 added, 59 removed, 322 unchanged (19% of the section changed)

55 unchanged sentences

(the “Bank”) is the largest bank in Vigo County, Ind.

It operates seven full-service banking branches within the county;

three in Clay County, Ind.;

one in Daviess County, Ind.;

one in Greene County, Ind.;

one in Knox County, Ind.;

two in Parke County, Ind.;

one in Putnam County, Ind., two in Sullivan County, Ind.;

one in Vanderburgh, County, Ind.;

three in Vermillion County, Ind.;

four in Champaign County, Illinois;

one in Clark County, Ill.;

one in Coles County, Ill.;

one in Crawford County, Ill.;

one in Franklin County, Ill.;

one in Jasper County, Ill.;

two in Jefferson County, Ill.;

one in Lawrence County, Ill.;

two in Livingston County, Ill.;

two in Marion County, Ill.;

two in McLean County, Ill.;

one in Richland County, Ill.;

five in Vermilion County, Ill.;

one in Wayne County, Ill;

one in Breckinridge County, Kentucky;

one in Calloway County, Ky;

three in Christian County, Ky;

two in Fulton County, Ky;

two in Hancock County, Ky;

two in Hopkins County, Ky;

two in Marshall County, Ky;

one in Todd County, Ky;

one in Trigg County, Ky;

one in Warren County, Ky;

one in Bradley County, Tennessee;

three in Cheatham County, Tn;

two in Hamilton County, Tn;

one in Meigs County, Tn;

three in Montgomery County, Tn;

one in Polk County, Tn;

three in Rhea County, Tn;

and two in Roane County, Tn.

There are seven loan production offices, one in Allen County, Indiana;

one in Hamilton County, Indiana;

one in Monroe County, Indiana;

one in Vanderburgh County, Indiana;

one in Hamilton County, Tennessee;

one in Rutherford County, Tn;

and one in Williamson County, Tn.

It operates six full-service banking branches within the county.

In addition to the six branches in Vigo County, the Bank operates fifteen other full-service banking branches in Indiana;

twenty-four branches in Illinois;

sixteen branches in Kentucky;

fifteen branches in Tennessee;

and three branches in Georgia.;

There are eight loan production offices, four in Indiana;

and four in Tennessee.

In addition to its branches, it has a main office in downtown Terre Haute and a 50,000-square-foot commercial building on South Third Street in Terre Haute, which serves as the Corporation’s operations center and provides additional office space.

74 unchanged sentences

In general, the Act limits the business of bank holding companies to banking, managing or controlling banks and other activities that the Federal Reserve has determined to be so closely related to banking as to be a proper incident thereto.

In addition, bank holding companies that qualify and elect to be financial holding companies such as the Corporation, may engage in any activity, or acquire and retain the

shares of a company engaged in any activity, that is either (i) financial in nature or incidental to such financial activity (as determined by the Federal Reserve in consultation with the Secretary of the Treasury) or (ii) complementary to a financial activity and does not pose a substantial risk to the safety and soundness of depository institutions or the financial system generally (as solely determined by the Federal Reserve), without prior approval of the Federal Reserve.

In addition, bank holding companies that qualify and elect to be financial holding companies such as the Corporation, may engage in any activity, or acquire and retain the shares of a company engaged in any activity, that is either (i) financial in nature or incidental to such financial activity (as determined by the Federal Reserve in consultation with the Secretary of the Treasury) or (ii) complementary to a financial activity and does not pose a substantial risk to the safety and soundness of depository institutions or the financial system generally (as solely determined by the Federal Reserve), without prior approval of the Federal Reserve.

Investments, Control, and Activities .

56 unchanged sentences

Compliance is also required with certain provisions designed to avoid the taking of low quality assets.

The Bank is also

prohibited from engaging in certain transactions with certain affiliates and insiders unless the transactions are on terms substantially the same, or at least as favorable to such institution or its subsidiaries, as those prevailing at the time for comparable transactions with nonaffiliated companies.

The Bank is also prohibited from engaging in certain transactions with certain affiliates and insiders unless the transactions are on terms substantially the same, or at least as favorable to such institution or its subsidiaries, as those prevailing at the time for comparable transactions with nonaffiliated companies.

Extensions of credit by the Bank to its executive officers, directors, certain principal shareholders, and their related interests must:

51 unchanged sentences

Concurrent with enactment of the CARES Act, in March 2020, the OCC, the Board of Governors of the Federal Reserve System, and the FDIC published an interim final rule to delay the estimated impact on regulatory capital stemming from the implementation of CECL.

incurred loss methodology’s effect on regulatory capital, followed by a three-year transition period (five-year transition option).

The interim final rule maintains the three-year transition option in the previous rule and provides banks the option to delay for two years an estimate of CECL’s effect on regulatory capital, relative to the incurred loss methodology’s effect on regulatory capital, followed by a three-year transition period (five-year transition option).

The Corporation did not adopt the capital transition relief.

1 unchanged sentence

The Dodd-Frank Act requires the federal bank regulatory agencies and the SEC to establish joint regulations or guidelines prohibiting incentive-based payment arrangements at specified regulated entities, such as the Corporation and the Bank, having at least $1 billion in total assets that encourage inappropriate risks by providing an executive officer, employee, director or principal shareholder with excessive compensation, fees, or benefits or that could lead to material financial loss to the entity.

In addition, these regulators must establish regulations or guidelines requiring enhanced disclosure to regulators of incentive-based compensation arrangements.

In addition, these regulators must establish regulations or guidelines requiring enhanced disclosure to regulators of incentive-based compensation

arrangements.

The agencies proposed such regulations in April 2011.

19 unchanged sentences

The final rule also applies the ability-to-repay requirement to prime loans, while also providing a conclusive presumption of compliance (i.e., a safe harbor) for prime loans that are also qualified mortgages.

Additionally, the final rule generally prohibits prepayment penalties (subject to certain exceptions) and sets

forth a 3-year record retention period with respect to documenting and demonstrating the ability-to-repay requirement and other provisions.

Additionally, the final rule generally prohibits prepayment penalties (subject to certain exceptions) and sets forth a 3-year record retention period with respect to documenting and demonstrating the ability-to-repay requirement and other provisions.

USA Patriot Act .

24 unchanged sentences

The federal bank regulatory agencies have adopted final guidelines (the “Guidelines”) for safeguarding confidential customer information.

The Guidelines require each financial institution, under the supervision and ongoing oversight of its Board of Directors, to create a comprehensive written information security program designed to ensure the security and confidentiality of customer information, protect against any anticipated threats or hazards

to the security or integrity of such information;

protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience to any customer;

28 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business