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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2012
Schedule of Amounts Recognized in Balance Sheet and Income Statement [Table Text Block]
The following tables set forth information concerning amounts recognized in First Financial's Consolidated Balance Sheets and Consolidated Statements of Income:
 
 
December 31,
(Dollars in thousands)
 
2012
 
2011
Change in benefit obligation
 
 
 
 
Benefit obligation at beginning of year
 
$
63,910

 
$
52,312

Service cost
 
3,483

 
3,177

Interest cost
 
2,550

 
2,723

Actuarial loss
 
3,822

 
9,180

Benefits paid, excluding settlement
 
(6,087
)
 
(3,482
)
Benefit obligation at end of year
 
67,678

 
63,910

 
 
 
 
 
Change in plan assets
 
 
 
 
Fair value of plan assets at beginning of year
 
114,972

 
122,677

Actual return on plan assets
 
14,831

 
(4,223
)
Employer contribution
 
0

 
0

Benefits paid, excluding settlement
 
(6,087
)
 
(3,482
)
Fair value of plan assets at end of year
 
123,716

 
114,972

 
 
 
 
 
Amounts recognized in the Consolidated Balance Sheets
 
 
 
 
Assets
 
56,038

 
51,062

Liabilities
 
0

 
0

Net amount recognized
 
$
56,038

 
$
51,062

 
 
 
 
 
Amounts recognized in accumulated other comprehensive income (loss)
 
 
 
 
Net actuarial loss
 
$
54,471

 
$
59,390

Net prior service cost
 
(4,119
)
 
(4,542
)
Deferred tax assets
 
(19,014
)
 
(20,712
)
Net amount recognized
 
$
31,338

 
$
34,136

 
 
 
 
 
Change in accumulated other comprehensive income (loss)
 
$
(2,798
)
 
$
12,854

 
 
 
 
 
Accumulated benefit obligation
 
$
64,273

 
$
60,485

Schedule of Components of Net Periodic Benefit Cost [Table Text Block]
Components of net periodic benefit cost
 
 
 
 
 
 
 
 
December 31,
(Dollars in thousands)
 
2012
 
2011
 
2010
Service cost
 
$
3,483

 
$
3,177

 
$
2,590

Interest cost
 
2,550

 
2,723

 
2,711

Expected return on assets
 
(9,055
)
 
(9,020
)
 
(4,932
)
Amortization of prior service cost
 
(423
)
 
(423
)
 
(423
)
Recognized net actuarial loss
 
2,964

 
2,194

 
2,065

Net periodic benefit (income) cost
 
(481
)
 
(1,349
)
 
2,011

 
 
 
 
 
 
 
Other changes recognized in accumulated other comprehensive income
 
 
 
 
Net actuarial (gain) loss
 
(1,954
)
 
22,423

 
1,688

Amortization of prior service cost
 
423

 
423

 
423

Amortization of gain
 
(2,964
)
 
(2,194
)
 
(2,065
)
Total recognized in accumulated other comprehensive income
 
(4,495
)
 
20,652

 
46

Total recognized in net periodic benefit cost and accumulated other comprehensive income
 
$
(4,976
)
 
$
19,303

 
$
2,057

 
 
 
 
 
 
 
Amount expected to be recognized in net periodic pension expense in the coming year
 
 
 
 
Amortization of loss
 
$
3,248

 
$
3,039

 
$
2,191

Amortization of prior service credit
 
(423
)
 
(423
)
 
(423
)
Schedule of Assumptions Used [Table Text Block]
Weighted-average assumptions to determine
 
 
 
 
 
 
December 31,
 
 
2012
 
2011
Benefit obligations
 
 
 
 
Discount rate
 
3.73
%
 
4.22
%
Rate of compensation increase
 
3.50
%
 
3.50
%
 
 
 
 
 
Net periodic benefit cost
 
 
 
 
Discount rate
 
4.22
%
 
5.36
%
Expected return on plan assets
 
7.50
%
 
7.50
%
Rate of compensation increase
 
3.50
%
 
3.50
%
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
The fair value of the plan assets as of December 31, 2012 by asset category is shown in the table that follows:
 
 
Fair Value Measurements
(Dollars in thousands)
 
Total
 
Quoted Prices in 
Active Markets 
for 
Identical Assets 
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Asset Category
 
 
 
 
 
 
 
 
Money market fund
 
$
1,338

 
$
1,338

 
$
0

 
$
0

U.S. Treasury securities
 
3,923

 
0

 
3,923

 
0

Securities of U.S. government agencies and corporations
 
1,543

 
0

 
1,543

 
0

Corporate bonds
 
6,983

 
0

 
6,983

 
0

Equity securities:
 
 
 
 
 
 
 
 
Common stock
 
20,899

 
20,899

 
0

 
0

Mutual funds
 
22,168

 
22,168

 
0

 
0

Exchange traded funds
 
66,844

 
66,844

 
0

 
0

Total
 
$
123,698

 
$
111,249

 
$
12,449

 
$
0


The fair value of the plan assets as of December 31, 2011 by asset category is shown below.
 
 
Fair Value Measurements
(Dollars in thousands)
 
Total
 
Quoted Prices in 
Active Markets 
for 
Identical Assets 
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Asset Category
 
 
 
 
 
 
 
 
Money market fund
 
$
1,551

 
$
1,551

 
$
0

 
$
0

U.S. Treasury securities
 
3,745

 
0

 
3,745

 
0

Securities of U.S. government agencies and corporations
 
2,019

 
0

 
2,019

 
0

Corporate bonds
 
7,249

 
0

 
7,249

 
0

Equity securities:
 
 
 
 
 
 
 
 
Common stock
 
19,368

 
19,368

 
0

 
0

Mutual funds
 
63,106

 
63,106

 
0

 
0

Exchange traded funds
 
17,756

 
17,756

 
0

 
0

Total
 
$
114,794

 
$
101,781

 
$
13,013

 
$
0


Schedule of Expected Benefit Payments [Table Text Block]
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
 
(Dollars in thousands)
 
Retirement
Benefits
2012
 
$
4,176

2013
 
5,073

2014
 
4,945

2015
 
9,989

2016
 
4,831

Thereafter
 
31,779