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EMPLOYEE BENEFIT PLANS
 6 Months Ended
Jun. 30, 2019
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS

First Financial sponsors a non-contributory defined benefit pension plan which covers substantially all employees and uses a December 31 measurement date for the plan. Plan assets were primarily invested in fixed income and publicly traded equity mutual funds. The pension plan does not directly own any shares of First Financial common stock or any other First Financial security or product.

First Financial made no cash contributions to fund the pension plan during the six months ended June 30, 2019, or the year ended December 31, 2018, and does not expect to make cash contributions to the plan through the remainder of 2019.

As a result of the plan’s actuarial projections, which included consideration of the impact of the merger with MSFG, First Financial recorded expense as set forth in the following table. The amounts are recognized in First Financial’s Consolidated Statements of Income related to the Company's pension plan.
 
 
Three months ended
 
Six months ended
 
 
June 30,
 
June 30,
(Dollars in thousands)
 
2019
 
2018
 
2019
 
2018
Service cost
 
$
1,545

 
$
1,735

 
$
3,295

 
$
3,030

Interest cost
 
689

 
601

 
1,389

 
1,191

Expected return on assets
 
(2,409
)
 
(2,450
)
 
(4,859
)
 
(4,910
)
Amortization of prior service cost
 
(106
)
 
(103
)
 
(206
)
 
(206
)
Net actuarial loss
 
426

 
555

 
901

 
1,077

     Net periodic benefit cost (income)
 
$
145

 
$
338

 
$
520

 
$
182