XML 132 R50.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

FAIR VALUE DISCLOSURES (Tables)

12 Months Ended

Dec. 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
December 31, 2019
Financial assets
Cash and short-term investments		$	257,639			$	257,639			$	257,639			$	0			$	0
Investment securities held-to-maturity		142,862				142,821				0				142,821				0
Other investments		125,020				N/A				N/A				N/A				N/A
Loans held for sale		13,680				13,680				0				13,680				0
Loans and leases		9,144,015				9,134,215				0				0				9,134,215
Accrued interest receivable		39,591				39,591				0				12,743				26,848
Financial liabilities
Deposits		10,210,229				10,209,790				0				10,209,790				0
Short-term borrowings		1,316,181				1,316,181				1,316,181				0				0
Long-term debt		414,376				414,937				0				414,937				0
Accrued interest payable		13,671				13,671				1,899				11,772				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												Assets/Liabilities
(Dollars in thousands)		Level 1				Level 2				Level 3				at Fair Value
December 31, 2019
Assets
Investment securities available-for-sale		$	100			$	2,842,794			$	9,190			$	2,852,084
Interest rate derivative contracts		0				73,558				0				73,558
Foreign exchange derivative contracts		0				39,172				0				39,172
Total		$	100			$	2,955,524			$	9,190			$	2,964,814
Liabilities
Interest rate derivative contracts		$	0			$	73,750			$	0			$	73,750
Foreign exchange derivative contracts		0				39,172				0				39,172
Total		$	0			$	112,922			$	0			$	112,922

		Fair Value Measurements Using												Assets/Liabilities
(Dollars in thousands)		Level 1				Level 2				Level 3				at Fair Value
December 31, 2018
Assets
Investment securities available-for-sale		$	97			$	2,764,443			$	14,715			$	2,779,255
Derivatives		0				29,543				0				29,543
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 year ended December 31, 2019.

		Year ended
(dollars in thousands)		December 31, 2019
Beginning balance		$	14,715
Accretion (amortization)		(552		)
Increase (decrease) in fair value		30
Settlements		(5,003		)
Ending balance		$	9,190

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
December 31, 2019
Assets
Impaired loans		$	0			$	0			$	9,268
OREO		0				0				1,088

		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

X

- Definition

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).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration