COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2024

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:

	March 31, 2024				December 31, 2023
(dollars in thousands)	Unfunded commitment		Loan balance		Unfunded commitment		Loan balance
Commercial & industrial	$	1,968,264	$	3,591,428	$	1,942,868	$	3,501,221
Lease financing	0		492,862		0		474,817
Construction real estate	502,057		641,596		565,009		564,832
Commercial real estate-investor	105,911		3,200,152		101,689		3,138,629
Commercial real estate-owner	37,367		945,817		40,346		942,310
Residential real estate	79,238		1,344,677		98,686		1,333,674
Home equity	985,993		773,811		972,474		758,676
Installment	29,905		153,838		25,841		159,078
Credit card	244,323		60,939		235,686		59,939
Total	$	3,953,058	$	11,205,120	$	3,982,599	$	10,933,176

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)		March 31, 2024				December 31, 2023
Investment	Accounting Method	Investment		Unfunded commitment		Investment		Unfunded commitment
LIHTC	Proportional amortization	$	146,186	$	79,909	$	142,933	$	80,465
HTC	Proportional amortization	14,798		11,955		0		0
HTC	Equity	3,749		2,088		19,798		14,043
NMTC	Equity	1,754		0		1,938		0
Renewable energy	Equity	23,845		1,787		23,981		1,857
Total		$	190,332	$	95,739	$	188,650	$	96,365

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

		Three months ended
		March 31, 2024				March 31, 2023
(Dollars in thousands)	Accounting Method	Amortization expense (1)		Tax expense (benefit) recognized (2)		Amortization expense (1)		Tax expense (benefit) recognized (2)
LIHTC	Proportional amortization	$	4,075	$	(4,126)	$	3,327	$	(3,540)
HTC	Proportional amortization	833		(968)		0		0
HTC	Equity	0		0		0		(80)
NMTC	Equity	31		(1)		104		(53)
Renewable energy	Equity	0		0		0		0
Total		$	4,939	$	(5,095)	$	3,431	$	(3,673)
(1) The amortization expense for investments using the proportional amortization method is included in income tax expense. The amortization expense for the equity method investments 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 equity method 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).