COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

Sep. 30, 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:

	September 30, 2024				December 31, 2023
(dollars in thousands)	Unfunded commitment		Loan balance		Unfunded commitment		Loan balance
Commercial & industrial	$	1,872,041	$	3,678,546	$	1,942,868	$	3,501,221
Lease financing	0		587,415		0		474,817
Construction real estate	398,031		802,264		565,009		564,832
Commercial real estate-investor	85,838		3,047,059		101,689		3,138,629
Commercial real estate-owner	38,149		987,761		40,346		942,310
Residential real estate	70,690		1,422,186		98,686		1,333,674
Home equity	998,439		825,431		972,474		758,676
Installment	30,130		141,270		25,841		159,078
Credit card	287,032		61,140		235,686		59,939
Total	$	3,780,350	$	11,553,072	$	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)		September 30, 2024				December 31, 2023
Investment	Accounting Method	Investment		Unfunded commitment		Investment		Unfunded commitment
LIHTC	Proportional amortization	$	147,038	$	69,971	$	142,933	$	80,465
HTC	Proportional amortization	13,958		11,955		0		0
HTC	Equity	3,749		1,347		19,798		14,043
NMTC	Equity	1,380		0		1,938		0
Renewable energy	Equity	23,573		231		23,981		1,857
Total		$	189,698	$	83,504	$	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
		September 30, 2024				September 30, 2023
(Dollars in thousands)		Amortization expense (1)		Tax expense (benefit) recognized (2)		Amortization expense (1)		Tax expense (benefit) recognized (2)
LIHTC	Proportional amortization	$	3,398	$	(3,905)	$	3,455	$	(3,434)
HTC	Proportional amortization	1,193		(1,104)		0		0
HTC	Equity	0		0		0		(80)
NMTC	Equity	31		(1)		104		(53)
Renewable energy	Equity	0		0		0		0
Total		$	4,622	$	(5,010)	$	3,559	$	(3,567)
		Nine months ended
		September 30, 2024				September 30, 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	$	10,506	$	(11,926)	$	10,520	$	(10,411)
HTC	Proportional amortization	2,092		(3,312)		0		0
HTC	Equity	0		0		0		(239)
NMTC	Equity	94		(4)		311		(158)
Renewable energy	Equity	0		0		0		0
Total		$	12,692	$	(15,242)	$	10,831	$	(10,808)
(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).