FAIR VALUE DISCLOSURES (Tables)

12 Months Ended

Dec. 31, 2018

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
December 31, 2018
Financial assets
Cash and short-term investments	$	273,959	$	273,959	$	273,959	$	0	$	0
Investment securities held-to-maturity	429,328		424,118		0		424,118		0
Other investments	115,660		N/A		N/A		N/A		N/A
Loans held for sale	4,372		4,372		0		4,372		0
Loans and leases, net of ALLL	8,767,672		8,662,868		0		0		8,662,868
Accrued interest receivable	41,816		41,816		0		13,819		27,997
Financial liabilities
Deposits
Noninterest-bearing	$	2,492,434	$	2,492,434	$	0	$	2,492,434	$	0
Interest-bearing demand	2,307,071		2,307,071		0		2,307,071		0
Savings	3,167,325		3,167,325		0		3,167,325		0
Time	2,173,564		2,146,645		0		2,146,645		0
Total deposits	10,140,394		10,113,475		0		10,113,475		0
Short-term borrowings	1,040,691		1,040,691		1,040,691		0		0
Long-term debt	570,739		557,933		0		557,933		0
Accrued interest payable	12,126		12,126		2,035		10,091		0

	Carrying		Estimated Fair Value
(Dollars in thousands)	Value		Total		Level 1		Level 2		Level 3
December 31, 2017
Financial assets
Cash and short-term investments	$	184,624	$	184,624	$	184,624	$	0	$	0
Investment securities held-to-maturity	654,008		653,101		0		653,101		0
Other investments	53,140		N/A		N/A		N/A		N/A
Loans held for sale	11,502		11,502		0		11,502		0
Loans and leases, net of ALLL	5,959,162		6,006,656		0		0		6,006,656
Accrued interest receivable	24,496		24,496		0		8,265		16,231
Financial liabilities
Deposits
Noninterest-bearing	$	1,662,058	$	1,662,058	$	0	$	1,662,058	$	0
Interest-bearing demand	1,453,463		1,453,463		0		1,453,463		0
Savings	2,462,420		2,462,420		0		2,462,420		0
Time	1,317,105		1,306,674		0		1,306,674		0
Total deposits	6,895,046		6,884,615		0		6,884,615		0
Short-term borrowings	814,565		814,565		814,565		0		0
Long-term debt	119,654		117,908		0		117,908		0
Accrued interest payable	5,104		5,104		204		4,900		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						Assets/Liabilities
(Dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
December 31, 2018
Assets
Derivatives	$	0	$	29,543	$	0	$	29,543
Investment securities available-for-sale	97		2,779,158		0		2,779,255
Total	$	97	$	2,808,701	$	0	$	2,808,798
Liabilities
Derivatives	$	0	$	29,336	$	0	$	29,336

	Fair Value Measurements Using						Assets/Liabilities
(Dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
December 31, 2017
Assets
Derivatives	$	0	$	12,757	$	0	$	12,757
Investment securities available-for-sale	2,969		1,346,439		0		1,349,408
Total	$	2,969	$	1,359,196	$	0	$	1,362,165
Liabilities
Derivatives	$	0	$	12,755	$	0	$	12,755

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
December 31, 2018
Assets
Impaired loans	$	0	$	0	$	1,320
OREO	0		0		1,089

	Fair Value Measurements Using
(Dollars in thousands)	Level 1		Level 2		Level 3
December 31, 2017
Assets
Impaired loans	$	0	$	0	$	2,671
OREO	0		0		1,086