EMPLOYEE BENEFIT PLANS

3 Months Ended

Mar. 31, 2012

Notes to Financial Statements [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE 13:  EMPLOYEE BENEFIT PLANS

First Financial sponsors a non-contributory defined benefit pension plan covering substantially all employees and uses a December 31 measurement date for its defined benefit pension plan.

First Financial made no cash contributions to fund the pension plan in 2011 and does not expect to make cash contributions to its pension plan in 2012.  As a result of the plan’s funding status and related actuarial projections for 2012, First Financial recorded income in the first quarter of 2012 of $0.1 million compared to income of $0.4 million for the same period in 2011.

The following table sets forth information concerning amounts recognized in First Financial’s Consolidated Balance Sheets and Consolidated Statements of Income:

	Three months ended
	March 31,
(Dollars in thousands)	2012			2011
Service cost	$	832		$	825
Interest cost	690			675
Expected return on assets	(2,235		)	(2,275		)
Amortization of prior service cost	(105		)	(100		)
Net actuarial loss	675			525
Net periodic benefit income	$	(143	)	$	(350	)

Amounts recognized in accumulated other comprehensive income (loss):

	Three months ended
	March 31,
(Dollars in thousands)	2012			2011
Net actuarial loss	$	675		$	525
Amortization of prior service cost	(105		)	(100		)
Deferred tax liabilities	(215		)	(161		)
Net amount recognized in accumulated other comprehensive income (loss)	$	355		$	264