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EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2021
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) |  | 2021 |  | 2020
Change in benefit obligation |  |  |  |
Benefit obligation at beginning of year |  | $ | 87,494 |  |  | $ | 75,044 |
Service cost |  | 9,128 |  |  | 7,932 |
Interest cost |  | 2,157 |  |  | 2,455 |
Actuarial (gain) loss |  | 2,588 |  |  | 9,171 |
Benefits paid, excluding settlement |  | (8,096) |  |  | (7,108) |
Benefit obligation at end of year |  | 93,271 |  |  | 87,494 |
Change in plan assets |  |  |  |
Fair value of plan assets at beginning of year |  | 155,704 |  |  | 141,816 |
Actual return on plan assets |  | 15,774 |  |  | 20,996 |
Benefits paid, excluding settlement |  | (8,096) |  |  | (7,108) |
Fair value of plan assets at end of year |  | 163,382 |  |  | 155,704 |
Amounts recognized in the Consolidated Balance Sheets |  |  |  |
Assets |  | 70,111 |  |  | 68,210 |
Liabilities |  | 0 |  | 0
Net amount recognized |  | $ | 70,111 |  |  | $ | 68,210 |
Amounts recognized in accumulated other comprehensive income (loss) |  |  |  |
Net actuarial loss |  | $ | 27,264 |  |  | $ | 32,943 |
Net prior service cost |  | (270) |  |  | (682) |
Deferred tax assets |  | (6,148) |  |  | (7,349) |
Net amount recognized |  | $ | 20,846 |  |  | $ | 24,912 |
Change in accumulated other comprehensive income (loss) |  | $ | (4,066) |  |  | $ | (3,029) |
Accumulated benefit obligation |  | $ | 92,316 |  |  | $ | 86,327 |
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) |  | 2021 |  | 2020 |  | 2019
Service cost |  | $ | 9,128 |  |  | $ | 7,932 |  |  | $ | 6,591 |
Interest cost |  | 2,157 |  |  | 2,455 |  |  | 2,778 |
Expected return on assets |  | (10,118) |  |  | (9,824) |  |  | (9,718) |
Amortization of prior service cost |  | (413) |  |  | (413) |  |  | (413) |
Recognized net actuarial loss |  | 2,611 |  |  | 2,334 |  |  | 1,803 |
Net periodic benefit (income) cost |  | 3,365 |  |  | 2,484 |  |  | 1,041 |
Other changes recognized in accumulated other comprehensive income (loss) |  |  |  |
Net actuarial (gain) loss |  | (3,068) |  |  | (2,001) |  |  | (4,630) |
Prior service cost |  | 0 |  |  | 0 |  |  | 0 |
Amortization of prior service cost |  | 413 |  |  | 413 |  |  | 413 |
Amortization of gain |  | (2,611) |  |  | (2,334) |  |  | (1,803) |
Total recognized in accumulated other comprehensive income (loss) |  | (5,266) |  |  | (3,922) |  |  | (6,020) |
Total recognized in net periodic benefit cost and accumulated other comprehensive income (loss) |  | $ | (1,901) |  |  | $ | (1,438) |  |  | $ | (4,979) |
Defined Benefit Plan, Assumptions [Table Text Block] | The pension plan assumptions are shown in the table that follows:
|  | December 31,
|  | 2021 |  | 2020 |  | 2019
Benefit obligations |  |  |  |  |  |
Discount rate |  | 2.89 | % |  | 2.55 | % |  | 3.33 | %
Rate of compensation increase |  | 3.50 | % |  | 3.50 | % |  | 3.50 | %
Weighted average interest crediting rate |  | 2.58 | % |  | 2.14 | % |  | 2.82 | %
Net periodic benefit cost |  |  |  |  |  |
Discount rate |  | 2.55 | % |  | 3.33 | % |  | 4.31 | %
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 |  | 2.14 | % |  | 2.82 | % |  | 3.61 | %
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | The fair value of the plan assets as of December 31, 2021 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 |  | $ | 122 |  |  | $ | 122 |  |  | $ | 0 |  |  | $ | 0 |  |  |
U. S. Government agencies |  | 3,535 |  |  | 0 |  |  | 3,535 |  |  | 0 |  |  |
Fixed income mutual funds |  | 63,526 |  |  | 63,526 |  |  | 0 |  |  | 0 |  |  |
Equity mutual funds |  | 83,000 |  |  | 83,000 |  |  | 0 |  |  | 0 |  |  |
Other assets |  | 13,199 |  |  | 0 |  |  | 13,199 |  |  | 0 |  |  |
Total |  | $ | 163,382 |  |  | $ | 146,648 |  |  | $ | 16,734 |  |  | $ | 0 |  |  |
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 |
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
2022 |  | $ | 5,753 |
2023 |  | 5,848 |
2024 |  | 6,664 |
2025 |  | 6,931 |
2026 |  | 7,099 |
Thereafter |  | 41,728 |

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