RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS |
9 Months Ended |
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Sep. 30, 2026 | |
| Accounting Standards Update and Change in Accounting Principle [Abstract] | |
| Recently Adopted and Issued Accounting Standards Disclosure [Text Block] | ACCOUNTING STANDARDS RECENTLY ADOPTED OR ISSUED Standards Adopted in 2025 FASB ASU No. 2023-09 - In December, 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. These amendments require public business entities on an annual basis to disclose additional information in specified categories with respect to the reconciliation of the effective tax rate to the statutory rate for federal, state, and foreign income taxes. It also requires greater detail about individual reconciling items in the rate reconciliation to the extent the impact of those items exceeds a quantitative threshold. Additionally, the ASU requires information pertaining to taxes paid (net of refunds received) to be disaggregated for federal, state, and foreign taxes and further disaggregated for specific jurisdictions to the extent the related amounts are equal to or greater than 5% of total income taxes paid (net of refunds received). The amendments in this ASU were effective for annual periods beginning after December 15, 2024. The Company adopted ASU 2023-09 retrospectively for the annual period ending December 31, 2025. The adoption of this standard resulted in additional disclosures in the Company's Consolidated Financial Statements, but it did not materially impact the Company's results of operations. FASB ASU No. 2025-08 - In November, 2025, the FASB issued ASU No. 2025-08, Financial Instruments—Credit Losses (Topic 326): Purchased Loans, which allows entities to apply the gross-up approach in ASC 326 to all purchased seasoned loans, not just loans classified as PCD. The gross-up approach requires an entity to record an ACL at the acquisition date offset by an addition to the amortized cost basis of the asset. Prior to the issuance of this ASU, the ACL for non-PCD assets was separately recorded through provision expense at the acquisition date of the non-PCD assets. Since acquired financial assets are initially recognized at fair value, which would include both interest and credit valuation adjustments, this effectively resulted in a “double count” of the expected credit loss for non-PCD assets on their acquisition date, which was captured as a Day 1 provision expense on the financial statements. The new standard is effective for fiscal years beginning after December 15, 2026; however, First Financial elected to early adopt the new standard in the fourth quarter of 2025 with the initial application utilized for the Westfield acquisition. As such, the Company recorded a $23.7 million increase to the ACL, with an offsetting adjustment to the amortized cost basis of the assets, to account for the expected losses on loans acquired from Westfield. For the BankFinancial acquisition, the Company recorded a $2.8 million increase to the ACL, with an offsetting adjustment to the amortized cost basis of the assets, to account for the expected losses on acquired BankFinancial loans. Standards Issued But Not Yet Adopted FASB ASU No. 2024-03 - In November, 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40), which requires disaggregation of certain expenses within the footnotes to the financial statements. The amendments require public business entities to disclose, in the notes to the financial statements, additional information about certain costs and expenses included in relevant expense captions presented on the face of the income statement. The amendments are intended to provide investors with more decision-useful information about the nature of expenses included in the income statement. The standard is effective for public business entities for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted and public business entities are required to adopt ASU 2024-03 prospectively; however, entities are permitted to apply the amendments retrospectively. The adoption of this standard may result in additional disclosures in the Company's Consolidated Financial Statements, but it is not expected to materially impact the Company's results of operations. FASB ASU No. 2025-06 - In September, 2025, the FASB issued ASU No. 2025-06, Intangibles – Goodwill and Other -- Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The final rule, which is intended to modernize accounting for costs related to internal use software, removes all references to project stages throughout ASC 350-40 and clarifies that costs may begin to be capitalized once management has authorized the project and it is probable that the project will be completed and the software will be used to perform the function intended. The guidance specifies that the property, plant and equipment disclosure requirements under ASC 360-10 apply to all capitalized software costs accounted for under ASC 350-40, regardless of how the costs are presented in the financial statements. Under this new guidance, entities will need to disclose the capitalized internal-use software balance and accumulated amortization at the balance sheet date, the amortization for the period and a general description of the method used in computing amortization. The amendments in this ASU are effective for annual periods beginning after December 15, 2027 and interim periods within those years. The adoption of this standard will result in additional disclosures in the Company's Consolidated Financial Statements, but it is not expected to materially impact the Company's results of operations.
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