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EMPLOYEE BENEFIT PLANS (Tables)

9 Months Ended

Sep. 30, 2024

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 in the Company's Consolidated Statements of Income, as set forth in the following table.

						Three months ended												Nine months ended
						September 30,												September 30,
(Dollars in thousands)						2024						2023						2024						2023
Service cost						$	2,624					$	2,304					$	7,474					$	6,988
Interest cost						1,080						1,066						3,680						3,213
Expected return on assets						(2,647)						(2,701)						(7,897)						(8,101)
Amortization of prior service cost						4						5						4						6
Net actuarial loss						485						208						1,235						528
Net periodic benefit cost (income)						$	1,546					$	882					$	4,496					$	2,634

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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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