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DERIVATIVES (Tables)
 6 Months Ended
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Derivative Financial Instruments and Balances
The following table details the classification and amounts of interest rate derivatives, foreign exchange contracts and cash flow hedges recognized in the Consolidated Balance Sheets:
  
June 30, 2023December 31, 2022
 Estimated fair valueEstimated fair value
(Dollars in thousands)Notional
amount		GainLossNotional
amount		GainLoss
Derivatives not designated as qualifying hedging instruments
Interest rate derivatives - instruments associated with loans      
Matched interest rate contracts with borrowers$2,261,185 $6,988 $(145,118)$2,206,351 $5,057 $(147,759)
Matched interest rate contracts with counterparty2,261,185 145,118 (6,988)2,206,351 147,759 (5,057)
Foreign exchange contracts
Matched foreign exchange contracts with customers7,179,984 90,652 (61,192)7,734,395 111,078 (93,804)
Match foreign exchange contracts with counterparty7,135,015 61,192 (90,652)7,681,006 93,804 (111,078)
Total derivatives not designated as qualifying hedging instruments18,837,369 303,950 (303,950)19,828,103 357,698 (357,698)
Derivatives designated as qualifying hedging instruments
Cash flow hedges
Interest rate collars and floors on loan pools300,000 466 (352)0 0 0 
Total derivatives designated as qualifying hedging instruments300,000 466 (352)0 0 0 
Total$19,137,369 $304,416 $(304,302)$19,828,103 $357,698 $(357,698)
Disclosure by Type of Financial Instrument
The following table discloses the gross and net amounts of interest rate derivatives, foreign exchange contracts and cash flow hedges recognized in the Consolidated Balance Sheets:
June 30, 2023December 31, 2022
(Dollars in thousands)Gross amounts of recognized liabilitiesGross amounts offset in the Consolidated Balance SheetsNet amounts of (assets)/liabilities presented in the Consolidated Balance SheetsGross amounts of recognized liabilitiesGross amounts offset in the Consolidated Balance SheetsNet amounts of (assets)/liabilities presented in the Consolidated Balance Sheets
Interest rate contracts (1)
$152,106 $(339,500)$(187,394)$152,816 $(314,048)$(161,232)
Foreign exchange contracts151,844 (62,253)89,591 204,882 (101,945)102,937 
Cash flow hedges352 (466)(114)0 0 0 
Total$304,302 $(402,219)$(97,917)$357,698 $(415,993)$(58,295)
(1) Includes accrued interest receivable and collateral.
Derivative Financial Instruments, Average Remaining Maturity and the Weighted-Average Interest Rates being Paid and Received
The following table details the derivative financial instruments, the average remaining maturities and the weighted-average interest rates being paid and received by First Financial at June 30, 2023:
(Dollars in thousands)Notional
amount		Average
maturity
(years)		Fair
value
Interest rate contracts   
Receive fixed, matched interest rate contracts with borrower$2,261,185 5.1$(138,130)
Pay fixed, matched interest rate contracts with counterparty2,261,185 5.1138,130 
Foreign exchange contracts
Foreign exchange contracts-pay USD7,179,984 0.629,460 
Foreign exchange contracts-receive USD7,135,015 0.6(29,460)
Total client derivatives18,837,369 1.60 
Cash flow hedges
Interest rate collars and floors on loan pools300,000 4.0114 
Total cash flow hedges300,000 4.0114 
Total$19,137,369 1.7$114