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COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended
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Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies [Table Text Block] | The following table presents by type First Financial's active loan balances and related obligations to extend credit:
|  | September 30, 2022 |  | December 31, 2021
(dollars in thousands) |  | Unfunded commitment |  | Loan balance |  | Unfunded commitment |  | Loan balance
Commercial & industrial |  | $ | 1,784,032 |  |  | $ | 3,139,219 |  |  | $ | 1,545,995 |  |  | $ | 2,720,028 |
Lease financing |  | 6,319 |  | 176,072 |  | 18,037 |  | 109,624
Construction real estate |  | 603,087 |  | 489,446 |  | 484,038 |  | 455,894
Commercial real estate-investor |  | 94,412 |  | 3,014,406 |  | 65,660 |  | 3,154,755
Commercial real estate-owner |  | 31,321 |  | 961,939 |  | 29,824 |  | 1,071,859
Residential real estate |  | 78,059 |  | 1,024,596 |  | 50,043 |  | 896,069
Home equity |  | 891,886 |  | 737,318 |  | 822,343 |  | 708,399
Installment |  | 18,479 |  | 202,267 |  | 15,985 |  | 119,454
Credit card |  | 225,454 |  | 52,173 |  | 217,006 |  | 52,217
Total |  | $ | 3,733,049 |  |  | $ | 9,797,436 |  |  | $ | 3,248,931 |  |  | $ | 9,288,299 |
Investment Holdings, Schedule of Investments | The following table summarizes First Financial's investments in affordable housing projects and other tax credit investments.
(Dollars in thousands) |  | September 30, 2022 |  | December 31, 2021
Investment |  | Accounting Method |  | Investment |  | Unfunded commitment |  | Investment |  | Unfunded commitment
LIHTC |  | Proportional amortization |  | $ | 124,155 |  |  | $ | 70,911 |  |  | $ | 108,974 |  |  | $ | 57,341 |
HTC |  | Equity |  | 17,921 |  |  | 11,955 |  |  | 2,581 |  |  | 56 |
NMTC |  | Equity |  | 3,184 |  |  | 0 |  |  | 3,895 |  |  | 0 |
Renewable energy |  | Equity |  | 17,657 |  |  | 17,784 |  |  | 18,585 |  |  | 15,114 |
Total |  |  |  | $ | 162,917 |  |  | $ | 100,650 |  |  | $ | 134,035 |  |  | $ | 72,511 |
The following tables summarize First Financial's amortization expense and tax benefit recognized in affordable housing projects and other tax credit investments.
|  |  |  | Three months ended
|  |  |  | September 30, 2022 |  | September 30, 2021
(Dollars in thousands) |  |  |  | Amortization expense (1) |  | Tax expense (benefit) recognized (2) |  | Amortization expense (1) |  | Tax expense (benefit) recognized (2)
LIHTC |  |  |  | $ | 3,211 |  |  | $ | (2,757) |  |  | $ | 2,120 |  |  | $ | (2,097) |
HTC |  |  |  | 0 |  |  | (80) |  |  | 64 |  |  | (80) |
NMTC |  |  |  | 104 |  |  | (53) |  |  | 53 |  |  | (53) |
Renewable energy |  |  |  | 17,108 |  |  | (18,881) |  |  | 5,192 |  |  | (5,200) |
Total |  |  |  | $ | 20,423 |  |  | $ | (21,771) |  |  | $ | 7,429 |  |  | $ | (7,430) |
|  |  |  | Nine months ended
|  |  |  | September 30, 2022 |  | September 30, 2021
(Dollars in thousands) |  |  |  | Amortization expense (1) |  | Tax expense (benefit) recognized (2) |  | Amortization expense (1) |  | Tax expense (benefit) recognized (2)
LIHTC |  |  |  | $ | 9,311 |  |  | $ | (8,551) |  |  | $ | 6,580 |  |  | $ | (6,434) |
HTC |  |  |  | 0 |  |  | (239) |  |  | 283 |  |  | (239) |
NMTC |  |  |  | 311 |  |  | (158) |  |  | 158 |  |  | (158) |
Renewable energy |  |  |  | 17,108 |  |  | (18,881) |  |  | 6,232 |  |  | (6,248) |
Total |  |  |  | $ | 26,730 |  |  | $ | (27,829) |  |  | $ | 13,253 |  |  | $ | (13,079) |
(1) The amortization expense for the LIHTC investments is included in income tax expense. The amortization expense for the HTC, NMTC, and Renewable energy tax credits is included in other noninterest expense.
(2) All of the tax benefits recognized are included in Income tax expense. The tax benefit recognized for the HTC, NMTC, and Renewable energy investments primarily reflects the tax credits generated from the investments and excludes the net tax expense (benefit) and deferred tax liability of the investments’ income (loss).

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