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EMPLOYEE BENEFIT PLANS (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2020

Dec. 31, 2020

Retirement Benefits [Abstract]

Schedule of Amounts Recognized in Balance Sheet and Income Statement [Table Text Block]

The following tables set forth information concerning amounts recognized in First Financial's Consolidated Balance Sheets and Consolidated Statements of Income related to the Company's pension plan:

						December 31,
(Dollars in thousands)						2020						2019
Change in benefit obligation
Benefit obligation at beginning of year						$	75,044					$	68,286
Service cost						7,932						6,591
Interest cost						2,455						2,778
Actuarial (gain) loss						9,171						6,848
Benefits paid, excluding settlement						(7,108)						(9,459)
Benefit obligation at end of year						87,494						75,044
Change in plan assets
Fair value of plan assets at beginning of year						141,816						130,078
Actual return on plan assets						20,996						21,197
Benefits paid, excluding settlement						(7,108)						(9,459)
Fair value of plan assets at end of year						155,704						141,816
Amounts recognized in the Consolidated Balance Sheets
Assets						68,210						66,772
Liabilities						0						0
Net amount recognized						$	68,210					$	66,772
Amounts recognized in accumulated other comprehensive income (loss)
Net actuarial loss						$	32,943					$	37,278
Net prior service cost						(682)						(1,095)
Deferred tax assets						(7,349)						(8,242)
Net amount recognized						$	24,912					$	27,941
Change in accumulated other comprehensive income (loss)						$	(3,029)					$	(4,649)
Accumulated benefit obligation						$	86,327					$	74,424

Schedule of Components of Net Periodic Benefit Cost [Table Text Block]

The components of net periodic benefit cost are shown in the table that follows:

						December 31,
(Dollars in thousands)						2020						2019						2018
Service cost						$	7,932					$	6,591					$	6,501
Interest cost						2,455						2,778						2,394
Expected return on assets						(9,824)						(9,718)						(9,811)
Amortization of prior service cost						(413)						(413)						(413)
Recognized net actuarial loss						2,334						1,803						2,188
Net periodic benefit (income) cost						2,484						1,041						859
Other changes recognized in accumulated other comprehensive income (loss)
Net actuarial (gain) loss						(2,001)						(4,630)						12,319
Prior service cost						0						0						0
Amortization of prior service cost						413						413						413
Amortization of gain						(2,334)						(1,803)						(2,188)
Total recognized in accumulated other comprehensive income (loss)						(3,922)						(6,020)						10,544
Total recognized in net periodic benefit cost and accumulated other comprehensive income (loss)						$	(1,438)					$	(4,979)					$	11,403

Defined Benefit Plan, Assumptions [Table Text Block]

The pension plan assumptions are shown in the table that follows:

						December 31,
						2020						2019						2018
Benefit obligations
Discount rate						2.55		%				3.33		%				4.31		%
Rate of compensation increase						3.50		%				3.50		%				3.50		%
Weighted average interest crediting rate						2.14		%				2.82		%				3.61		%
Net periodic benefit cost
Discount rate						3.33		%				4.31		%				3.43		%
Expected return on plan assets						7.25		%				7.25		%				7.25		%
Rate of compensation increase						3.50		%				3.50		%				3.50		%
Weighted average interest crediting rate						2.82		%				3.61		%				2.63		%

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

The fair value of the plan assets as of December 31, 2020 by asset category is shown in the table that follows:

						Fair Value Measurements
(Dollars in thousands)						Total						Quoted Prices in  Active Markets  for  Identical Assets  (Level 1)						Significant Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Asset Category
Cash						$	129					$	129					$	0					$	0
U. S. Government agencies						4,193						0						4,193						0
Fixed income mutual funds						65,443						65,443						0						0
Equity mutual funds						85,939						85,939						0						0
Total						$	155,704					$	151,511					$	4,193					$	0

The fair value of the plan assets as of December 31, 2019 by asset category is shown in the table that follows:

						Fair Value Measurements
(Dollars in thousands)						Total						Quoted Prices in  Active Markets  for  Identical Assets  (Level 1)						Significant Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Asset Category
Cash						$	195					$	195					$	0					$	0
U. S. Government agencies						5,357						0						5,357						0
Fixed income mutual funds						75,720						75,720						0						0
Equity mutual funds						60,544						60,544						0						0
Total						$	141,816					$	136,459					$	5,357					$	0

Schedule of Expected Benefit Payments [Table Text Block]

The following benefit payments, which reflect expected future service, are expected to be paid:

(Dollars in thousands)						Expected benefit payments
2021						$	5,780
2022						5,432
2023						5,474
2024						6,605
2025						6,565
Thereafter						38,095

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Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized.

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Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

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Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements.

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Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

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