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EMPLOYEE BENEFIT PLANS (Tables)

6 Months Ended

Jun. 30, 2023

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)						2023						2022						2023						2022
Service cost						$	2,334					$	2,334					$	4,684					$	4,759
Interest cost						1,072						637						2,147						1,262
Expected return on assets						(2,700)						(2,747)						(5,400)						(5,497)
Amortization of prior service cost						1						(75)						1						(150)
Net actuarial loss						170						405						320						805
Net periodic benefit cost (income)						$	877					$	554					$	1,752					$	1,179

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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
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

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