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FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2019
Financial assets
Cash and short-term investments		$	271,362			$	271,362			$	271,362			$	0			$	0
Investment securities held-to-maturity		154,327				153,039				0				153,039				0
Other investments		127,439				N/A				N/A				N/A				N/A
Loans held for sale		20,244				20,244				0				20,244				0
Loans and leases		8,919,237				8,850,385				0				0				8,850,385
Accrued interest receivable		44,474				44,474				0				14,287				30,187
Financial liabilities
Deposits		10,109,004				10,102,924				0				10,102,924				0
Short-term borrowings		1,313,321				1,313,321				1,313,321				0				0
Long-term debt		547,042				545,983				0				545,983				0
Accrued interest payable		12,730				12,730				2,859				9,871				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
June 30, 2019
Assets
Derivatives		$	0			$	69,038			$	0			$	69,038
Investment securities available-for-sale		100				3,140,072				12,798				3,152,970
Total		$	100			$	3,209,110			$	12,798			$	3,222,008
Liabilities
Derivatives		$	0			$	69,470			$	0			$	69,470

		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 June 30, 2019. No AFS securities were measured at fair value on a recurring basis for the three or six months ended June 30, 2018.

		Three months ended				Six months ended
(dollars in thousands)		June 30, 2019				June 30, 2019
Beginning balance		$	13,355			$	14,715
Accretion (amortization)		(569		)		(562		)
Increase (decrease) in fair value		12				33
Settlements		0				(1,388		)
Ending balance		$	12,798			$	12,798

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
June 30, 2019
Assets
Impaired loans		$	0			$	0			$	4,398
OREO		0				0				953

		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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