FAIR VALUE DISCLOSURES (Tables)

12 Months Ended

Dec. 31, 2021

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
December 31, 2021
Financial assets
Cash and short-term investments	$	434,842	$	434,842	$	434,842	$	0	$	0
Investment securities held-to-maturity	98,420		99,898		0		99,898		0
Other investments	102,971		102,971		1,331		92,025		9,615
Loans and leases	9,156,307		9,172,111		0		0		9,172,111
Accrued interest receivable	44,627		44,627		0		15,170		29,457
Financial liabilities
Deposits	12,871,954		12,869,567		0		12,869,567		0
Short-term borrowings	296,203		296,203		296,203		0		0
Long-term debt	409,832		411,569		0		411,569		0
Accrued interest payable	4,498		4,498		0		4,498		0

	Carrying		Estimated Fair Value
(Dollars in thousands)	Value		Total		Level 1		Level 2		Level 3
December 31, 2020
Financial assets
Cash and short-term investments	$	251,359	$	251,359	$	251,359	$	0	$	0
Investment securities held-to-maturity	131,687		136,698		0		136,698		0
Other investments	133,198		133,198		837		122,953		9,408
Loans and leases	9,725,291		9,743,497		0		0		9,743,497
Accrued interest receivable	50,903		50,903		0		13,221		37,682
Financial liabilities
Deposits	12,232,003		12,238,058		0		12,238,058		0
Short-term borrowings	166,594		166,594		166,594		0		0
Long-term debt	776,202		774,674		0		774,674		0
Accrued interest payable	6,240		6,240		14		6,226		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, 2021
Assets
Investment securities available-for-sale	$	34,776	$	4,134,889	$	38,181	$	4,207,846
Loans held for sale	0		29,482		0		29,482
Interest rate derivative contracts	0		92,328		0		92,328
Foreign exchange derivative contracts	0		120,768		0		120,768
Total	$	34,776	$	4,377,467	$	38,181	$	4,450,424
Liabilities
Interest rate derivative contracts	$	0	$	92,444	$	0	$	92,444
Foreign exchange derivative contracts	0		120,768		0		120,768
Total	$	0	$	213,212	$	0	$	213,212

	Fair Value Measurements Using						Assets/Liabilities
(Dollars in thousands)	Level 1		Level 2		Level 3		at Fair Value
December 31, 2020
Assets
Investment securities available-for-sale	$	103	$	3,383,902	$	40,575	$	3,424,580
Loans held for sale	0		41,103		0		41,103
Interest rate derivative contracts	0		185,032		0		185,032
Foreign exchange derivative contracts	0		87,615		0		87,615
Total	$	103	$	3,697,652	$	40,575	$	3,738,330
Liabilities
Interest rate derivative contracts	$	0	$	186,124	$	0	$	186,124
Foreign exchange derivative contracts	0		87,615		0		87,615
Total	$	0	$	273,739	$	0	$	273,739

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents a reconciliation for certain AFS securities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2021 and 2020.

(dollars in thousands)	December 31, 2021		December 31, 2020
Beginning balance	$	40,575	$	9,190
Accretion (amortization)	(38)		1
Increase (decrease) in fair value	44		(17)
Purchases (settlements)	(2,400)		31,401
Ending balance	$	38,181	$	40,575

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, 2021
Assets
Collateral dependent loans
Commercial	$	0	$	0	$	4,449
Commercial real estate	0		0		14,618
OREO	0		0		0

	Fair Value Measurements Using
(Dollars in thousands)	Level 1		Level 2		Level 3
December 31, 2020
Assets
Collateral dependent loans
Commercial	$	0	$	0	$	25,367
Commercial real estate	0		0		6,432
OREO	0		0		54