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EMPLOYEE BENEFIT PLANS (Tables)

6 Months Ended

Jun. 30, 2021

Retirement Benefits [Abstract]

Employee Benefit Plan Amounts Recognized in the Consolidated Balance Sheets and Consolidated Statements of Income

As a result of the plan’s actuarial projections, 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)						2021						2020						2021						2020
Service cost						$	2,311					$	1,926					$	4,661					$	3,776
Interest cost						533						607						1,058						1,207
Expected return on assets						(2,538)						(2,464)						(5,088)						(4,939)
Amortization of prior service cost						(102)						(102)						(202)						(202)
Net actuarial loss						641						559						1,266						1,084
Net periodic benefit cost (income)						$	845					$	526					$	1,695					$	926

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- References

No definition available.

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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

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