FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Estimated Fair Values of Financial Instruments

The estimated fair values of First Financial’s financial instruments not measured at fair value on a recurring or nonrecurring basis in the consolidated financial statements were as follows:

	Carrying		Estimated fair value
(Dollars in thousands)	value		Total		Level 1		Level 2		Level 3
June 30, 2016
Financial assets
Cash and short-term investments	$	125,085	$	125,085	$	125,085	$	0	$	0
Investment securities held-to-maturity	670,111		689,288		0		689,288		0
Other investments	51,261		N/A		N/A		N/A		N/A
Loans held for sale	10,494		10,494		0		10,494		0
Loans and leases, net of ALLL	5,644,505		5,693,605		0		0		5,693,605
FDIC indemnification asset	14,504		8,164		0		0		8,164
Accrued interest receivable	18,655		18,655		0		5,468		13,187
Financial liabilities
Deposits
Noninterest-bearing	$	1,429,163	$	1,429,163	$	0	$	1,429,163	$	0
Interest-bearing demand	1,436,078		1,436,078		0		1,436,078		0
Savings	1,974,449		1,974,449		0		1,974,449		0
Time	1,279,934		1,288,270		0		1,288,270		0
Total deposits	6,119,624		6,127,960		0		6,127,960		0
Short-term borrowings	1,115,084		1,115,084		1,115,084		0		0
Long-term debt	119,596		126,158		0		126,158		0
Accrued interest payable	5,151		5,151		533		4,618		0

	Carrying		Estimated fair value
(Dollars in thousands)	value		Total		Level 1		Level 2		Level 3
December 31, 2015
Financial assets
Cash and short-term investments	$	148,575	$	148,575	$	148,575	$	0	$	0
Investment securities held-to-maturity	726,259		731,951		0		731,951		0
Other investments	53,725		N/A		N/A		N/A		N/A
Loans held for sale	20,957		20,957		0		20,957		0
Loans and leases, net of ALLL	5,335,362		5,381,065		0		0		5,381,065
FDIC indemnification asset	17,630		9,756		0		0		9,756
Accrued interest receivable	16,995		16,995		0		5,791		11,204
Financial liabilities
Deposits
Noninterest-bearing	$	1,413,404	$	1,413,404	$	0	$	1,413,404	$	0
Interest-bearing demand	1,414,291		1,414,291		0		1,414,291		0
Savings	1,945,805		1,945,805		0		1,945,805		0
Time	1,406,124		1,406,489		0		1,406,489		0
Total deposits	6,179,624		6,179,989		0		6,179,989		0
Short-term borrowings	938,425		938,425		938,425		0		0
Long-term debt	119,540		118,691		0		118,691		0
Accrued interest payable	5,003		5,003		113		4,890		0

Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The financial assets and liabilities measured at fair value on a recurring basis in the consolidated financial statements were as follows:

	Fair value measurements using
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets/liabilities at fair value
June 30, 2016
Assets
Derivatives	$	0	$	32,550	$	0	$	32,550
Investment securities available-for-sale	8,872		1,105,477		0		1,114,349
Total	$	8,872	$	1,138,027	$	0	$	1,146,899
Liabilities
Derivatives	$	0	$	32,360	$	0	$	32,360

	Fair value measurements using
(Dollars in thousands)	Level 1		Level 2		Level 3		Assets/liabilities at fair value
December 31, 2015
Assets
Derivatives	$	0	$	14,111	$	0	$	14,111
Investment securities available-for-sale	8,583		1,182,059		0		1,190,642
Total	$	8,583	$	1,196,170	$	0	$	1,204,753
Liabilities
Derivatives	$	0	$	14,243	$	0	$	14,243

Summary of Financial Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

The following table summarizes financial assets and liabilities measured at fair value on a nonrecurring basis.

	Fair value measurements using
(Dollars in thousands)	Level 1		Level 2		Level 3
June 30, 2016
Assets
Loans held for sale	$	0	$	10,494	$	0
Impaired loans	0		0		5,469
OREO	0		0		6,870

	Fair value measurements using
(Dollars in thousands)	Level 1		Level 2		Level 3
December 31, 2015
Assets
Loans held for sale	$	0	$	20,957	$	0
Impaired loans	0		0		8,008
OREO	0		0		7,598