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EMPLOYEE BENEFIT PLANS
 9 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
First Financial sponsors a non-contributory defined benefit pension plan which covers substantially all employees and uses a December 31 measurement date for the plan. Plan assets are primarily invested in fixed income and publicly traded equity mutual funds. The pension plan does not directly own any shares of First Financial common stock or any other First Financial security or product.

First Financial made no cash contributions to fund the pension plan during the nine months ended September 30, 2022 or the year ended December 31, 2021, and does not expect to make cash contributions to the plan through the remainder of 2022.

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 endedNine months ended
September 30,September 30,
(Dollars in thousands)2022202120222021
Service cost$2,153 $2,234 $6,912 $6,895 
Interest cost661 549 1,923 1,607 
Expected return on assets(2,743)(2,515)(8,240)(7,603)
Amortization of prior service cost(76)(105)(226)(307)
Net actuarial loss416 672 1,221 1,938 
     Net periodic benefit cost (income)$411 $835 $1,590 $2,530