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FAIR VALUE DISCLOSURES (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Estimated Fair Values of Financial Instruments

The estimated fair values of First Financial’s financial instruments not measured at fair value on a recurring or nonrecurring basis in the consolidated financial statements were as follows:

		Carrying				Estimated fair value
(Dollars in thousands)		value				Total				Level 1				Level 2				Level 3
March 31, 2019
Financial assets
Cash and short-term investments		$	219,228			$	219,228			$	219,228			$	0			$	0
Investment securities held-to-maturity		158,305				153,075				0				153,075				0
Other investments		115,731				N/A				N/A				N/A				N/A
Loans held for sale		8,217				8,217				0				8,217				0
Loans and leases		8,752,479				8,651,343				0				0				8,651,343
Accrued interest receivable		44,171				44,171				0				14,230				29,941
Financial liabilities
Deposits		10,133,897				10,117,317				0				10,117,317				0
Short-term borrowings		1,047,415				1,047,415				1,047,415				0				0
Long-term debt		546,423				538,743				0				538,743				0
Accrued interest payable		12,449				12,449				2,907				9,542				0

		Carrying				Estimated fair value
(Dollars in thousands)		value				Total				Level 1				Level 2				Level 3
December 31, 2018
Financial assets
Cash and short-term investments		$	273,959			$	273,959			$	273,959			$	0			$	0
Investment securities held-to-maturity		429,328				424,118				0				424,118				0
Other investments		115,660				N/A				N/A				N/A				N/A
Loans held for sale		4,372				4,372				0				4,372				0
Loans and leases		8,767,672				8,662,868				0				0				8,662,868
Accrued interest receivable		41,816				41,816				0				13,819				27,997
Financial liabilities
Deposits		10,140,394				10,113,475				0				10,113,475				0
Short-term borrowings		1,040,691				1,040,691				1,040,691				0				0
Long-term debt		570,739				557,933				0				557,933				0
Accrued interest payable		12,126				12,126				2,035				10,091				0

Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The financial assets and liabilities measured at fair value on a recurring basis in the consolidated financial statements were as follows:

		Fair value measurements using
(Dollars in thousands)		Level 1				Level 2				Level 3				Assets/liabilities at fair value
March 31, 2019
Assets
Derivatives		$	0			$	39,062			$	0			$	39,062
Investment securities available-for-sale		98				3,100,358				13,355				3,113,811
Total		$	98			$	3,139,420			$	13,355			$	3,152,873
Liabilities
Derivatives		$	0			$	38,985			$	0			$	38,985

		Fair value measurements using
(Dollars in thousands)		Level 1				Level 2				Level 3				Assets/liabilities at fair value
December 31, 2018
Assets
Derivatives		$	0			$	29,543			$	0			$	29,543
Investment securities available-for-sale		97				2,764,443				14,715				2,779,255
Total		$	97			$	2,793,986			$	14,715			$	2,808,798
Liabilities
Derivatives		$	0			$	29,336			$	0			$	29,336

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents a reconciliation for certain AFS securities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2019. No AFS securities were measured at fair value on a recurring basis for the three months ended March 31, 2018.

		Three months ended
(dollars in thousands)		March 31, 2019
Beginning balance		$	14,715
Accretion (amortization)		7
Increase (decrease) in fair value		21
Settlements		(1,388		)
Ending balance		$	13,355

Summary of Financial Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

The following table summarizes financial assets and liabilities measured at fair value on a nonrecurring basis.

		Fair value measurements using
(Dollars in thousands)		Level 1				Level 2				Level 3
March 31, 2019
Assets
Impaired loans		$	0			$	0			$	4,391
OREO		0				0				1,046

		Fair value measurements using
(Dollars in thousands)		Level 1				Level 2				Level 3
December 31, 2018
Assets
Impaired loans		$	0			$	0			$	1,320
OREO		0				0				1,089

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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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