STEVENS POINT, Wis. -- First Financial Corp. said a rating agency's downgrades of three adjustable rate mortgage-backed securities will result in a one-time charge to second-quarter earnings of about $6 million, or 24 cents a share.

The $5 billion-asset company, parent of First Financial Bank, had previously reported that two securities totaling $21 million had been placed on nonaccrual status. The thrift company's total interest in the downgraded, privately issued securities is $34 million.

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