COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

Sep. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies [Table Text Block]

The following table presents by type First Financial's active loan balances and related obligations to extend credit:

	September 30, 2021				December 31, 2020
(dollars in thousands)	Unfunded commitment		Loan balance		Unfunded commitment		Loan balance
Commercial & industrial	$	1,418,937	$	2,602,848	$	1,270,765	$	3,007,509
Lease financing	18,229		67,855		0		72,987
Construction real estate	386,329		477,004		374,008		636,096
Commercial real estate-investor	129,332		3,399,664		139,754		3,244,540
Commercial real estate-owner	34,674		1,038,710		51,637		1,063,318
Residential real estate	53,055		922,492		28,895		1,003,086
Home equity	813,862		709,050		762,406		743,099
Installment	14,603		96,077		18,229		81,850
Credit card	221,310		47,231		207,365		48,485
Total	$	3,090,331	$	9,360,931	$	2,853,059	$	9,900,970

Investment Holdings, Schedule of Investments

The following table summarizes First Financial's investments in affordable housing projects and other tax credit investments.

(Dollars in thousands)		September 30, 2021				December 31, 2020
Investment	Accounting Method	Investment		Unfunded commitment		Investment		Unfunded commitment
LIHTC	Proportional amortization	$	111,288	$	61,492	$	90,401	$	47,531
HTC	Equity	3,414		56		3,607		364
NMTC	Equity	4,074		0		1,165		0
Renewable energy	Equity	8,913		7,940		5,244		7,661
Total		$	127,689	$	69,488	$	100,417	$	55,556

The following tables summarize First Financial's amortization expense and tax benefit recognized in affordable housing projects and other tax credit investments.

	Three months ended
	September 30, 2021				September 30, 2020
(Dollars in thousands)	Amortization expense (1)		Tax expense (benefit) recognized (2)		Amortization expense (1)		Tax expense (benefit) recognized (2)
LIHTC	$	2,120	$	(2,097)	$	1,972	$	(1,812)
HTC	64		(80)		62		(82)
NMTC	53		(53)		44		(44)
Renewable energy	5,192		(5,200)		0		0
Total	$	7,429	$	(7,430)	$	2,078	$	(1,938)
	Nine months ended
	September 30, 2021				September 30, 2020
(Dollars in thousands)	Amortization expense (1)		Tax expense (benefit) recognized (2)		Amortization expense (1)		Tax expense (benefit) recognized (2)
LIHTC	$	6,580	$	(6,434)	$	6,076	$	(5,643)
HTC	283		(239)		202		(245)
NMTC	158		(158)		131		(131)
Renewable energy	6,232		(6,248)		0		0
Total	$	13,253	$	(13,079)	$	6,409	$	(6,019)
(1) The amortization expense for the LIHTC investments is included in income tax expense. The amortization expense for the HTC, NMTC, and Renewable energy tax credits is included in other noninterest expense.
(2) All of the tax benefits recognized are included in Income tax expense. The tax benefit recognized for the HTC, NMTC, and Renewable energy investments primarily reflects the tax credits generated from the investments and excludes the net tax expense (benefit) and deferred tax liability of the investments’ income (loss).