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EMPLOYEE BENEFIT PLANS
 9 Months Ended
Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]  
EMPLOYEE BENEFIT PLANS
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 the plan.

First Financial made no cash contributions to fund the pension plan during the nine months ended September 30, 2015 and does not expect to make cash contributions to the plan through the remainder of the year. First Financial made no cash contributions to fund the pension plan in 2014.  As a result of the plan’s actuarial projections for 2015, First Financial recorded income of $0.3 million for each quarter ended September 30, 2015 and 2014. First Financial recorded income related to its pension plan of $0.9 million for each of the nine months ended September 30, 2015 and 2014, respectively.

The following table sets forth information concerning amounts recognized in First Financial’s Consolidated Statements of Income related to the Company's pension plan:
 
 
Three months ended
 
Nine months ended
 
 
September 30,
 
September 30,
(Dollars in thousands)
 
2015
 
2014
 
2015
 
2014
Service cost
 
$
1,175

 
$
1,007

 
$
3,525

 
$
3,089

Interest cost
 
550

 
551

 
1,650

 
1,791

Expected return on assets
 
(2,375
)
 
(2,208
)
 
(7,125
)
 
(6,792
)
Amortization of prior service cost
 
(100
)
 
(103
)
 
(300
)
 
(309
)
Net actuarial loss
 
450

 
405

 
1,350

 
1,368

     Net periodic benefit (income) cost
 
$
(300
)
 
$
(348
)
 
$
(900
)
 
$
(853
)