Components of Net Periodic Benefit Cost

3 Months Ended

Mar. 31, 2025

Components of Net Periodic Benefit Cost

Components of Net Periodic Benefit Cost

8.    Components of Net Periodic Benefit Cost

	Three Months Ended March 31,
					Post-Retirement
	Pension Benefits				Health Benefits
(Dollar amounts in thousands)	2025		2024		2025		2024
Service cost	$	108	$	141	$	3	$	4
Interest cost		1,016		947		32		34
Expected return on plan assets		(1,094)		(1,051)		—		—
Net amortization of prior service cost		—		—		—		—
Net amortization of net (gain) loss		—		109		(39)		(20)
Net Periodic Benefit Cost	$	30	$	146	$	(4)	$	18

Employer Contributions

First Financial Corporation previously disclosed in its financial statements for the year ended December 31, 2024 that it expected to contribute $570 thousand and $563 thousand respectively to its Pension Plan and ESOP and $243 thousand to the Post Retirement Health Benefits Plan in 2025. Contributions of $357 thousand have been made to the Pension Plan thus far in 2025. Contributions of $80 thousand have been made through the first three months of 2025 for the Post Retirement Health Benefits plan. No contributions have been made in 2025 for the ESOP. The Pension plan was frozen for most employees at the end of 2012 and for those employees there will be discretionary contributions to the ESOP plan and a 401K plan in place of the former Pension benefit. In the first three months of 2025 and 2024 there has been $847 thousand and $744 thousand of expense accrued for potential contributions to these alternative retirement benefit options.