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STOCK BASED COMPENSATION: | 12 Months Ended
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Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK BASED COMPENSATION | STOCK BASED COMPENSATION: On February 5, 2011, the Corporation's Board of Directors adopted and approved the First Financial Corporation 2011 Omnibus Equity Incentive Plan (the "2011 Stock Incentive Plan") effective upon the approval of the Plan by the Company's shareholders, which occurred on April 20, 2011 at the Corporation’s annual meeting of shareholders. The 2011 Stock Incentive Plan provides for the grant of non qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and incentive awards. An aggregate of 700,000 shares of common stock are reserved for issuance under the 2011 Stock Incentive Plan. Shares issuable under the 2011 Stock Incentive Plan may be authorized and unissued shares of common stock or treasury shares. During the first quarter of 2018 and 2017, the Compensation Committee of the Board of Directors of the Company granted restricted stock awards to certain executive officers pursuant to the Corporation's annual performance-based stock incentive bonus plan. Compensation expense is recognized over the vesting period of the awards based on the fair value of the stock at the grant date. The value of the awards was determined by dividing the award amount by the median price of a share of Company common stock on the grant dates. The restricted stock awards vest as follows — 33% on the first anniversary, 33% on the second anniversary and the remaining 34% on the third anniversary of the earned date. The Corporation has the right to retain shares to satisfy any withholding tax obligation. A total of 166,289 shares of restricted common stock of the Company were granted under the 2011 Stock Incentive Plan. A total of 533,711 remain to be granted under this plan. Restricted Stock Restricted stock awards require certain service-based or performance requirements and have a vesting period of 3 years. Compensation expense is recognized over the vesting period of the award based on the fair value of the stock at the date of issue. Compensation related to the plan was $745 thousand, $706 thousand, and $684 thousand in 2018, 2017 and 2016, respectively.
|  |  |  | 2018 |  |  |  | 2017
|  | Number |  | Weighted Average Grant Date |  | Number |  | Weighted Average Grant Date
(shares in thousands) |  | Outstanding |  | Fair Value |  | Outstanding |  | Fair Value
Nonvested balance at January 1, |  | 18,019 |  |  | 41.14 |  |  | 20,524 |  |  | 32.83 |
Granted during the year |  | 17,220 |  |  | 45.55 |  |  | 16,562 |  |  | 46.70 |
Vested during the year |  | (18,240 | ) |  | 40.85 |  |  | (19,067 | ) |  | 37.03 |
Forfeited during the year |  | — |  |  | — |  |  | — |  |  | — |
Nonvested balance at December 31, |  | 16,999 |  |  | 45.92 |  |  | 18,019 |  |  | 41.14 |
As of December 31, 2018 and 2017, there was $674 thousand and $741 thousand, respectively of total unrecognized compensation cost related to non-vested shares granted under the Plan. The cost is expected to be recognized over a weighted-average period of 1.5 years. The total fair value of the shares vested during the years ended December 31, 2018 and 2017 was $732 thousand and $865 thousand, respectively.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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