v3.26.1
Components of Net Periodic Benefit Cost
 6 Months Ended
Jun. 30, 2026
Components of Net Periodic Benefit Cost  
Components of Net Periodic Benefit Cost

8.    Components of Net Periodic Benefit Cost

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Three Months Ended June 30, 

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Six Months Ended June 30, 

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Post-Retirement

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Post-Retirement

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Pension Benefits

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Health Benefits

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Pension Benefits

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Health Benefits

(Dollar amounts in thousands)

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2026

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2025

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2026

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2025

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2026

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2025

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2026

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2025

Service cost

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$

104

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$

107

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$

6

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$

3

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$

208

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$

215

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$

11

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$

6

Interest cost

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990

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1,017

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38

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32

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1,980

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2,033

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75

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64

Expected return on plan assets

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(1,216)

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(1,093)

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—

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—

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(2,432)

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(2,187)

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—

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—

Net amortization of prior service cost

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—

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—

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—

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—

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—

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—

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—

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—

Net amortization of net (gain) loss

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—

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—

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(30)

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(39)

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—

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—

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(60)

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(78)

Net Periodic Benefit Cost

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$

(122)

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$

31

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$

14

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$

(4)

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$

(244)

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$

61

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$

26

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$

(8)

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Employer Contributions

First Financial Corporation previously disclosed in its financial statements for the year ended December 31, 2025 that it expected to contribute $1.6 million and $556 thousand respectively to its Pension Plan and ESOP and $244 thousand to the Post Retirement Health Benefits Plan in 2026. Contributions of $690 thousand have been made to the Pension Plan thus far in 2026. Contributions of $110 thousand have been made through the first six months of 2026 for the Post Retirement Health Benefits plan. No contributions have been made in 2026 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 six months of 2026 and 2025 there has been $2.1 million and $1.6 million of expense recorded for potential contributions to these alternative retirement benefit options.