First Financial Bancorp Announces Second Quarter and Year to Date 2025 Financial Results & Quarterly Dividend Increase
First Financial Bancorp (NASDAQ:FFBC) reported strong Q2 2025 financial results with earnings per diluted share of $0.73 ($0.74 adjusted). The company achieved record quarterly revenue of $226.3 million, representing a 5% year-over-year increase. Key performance metrics include a return on average assets of 1.52% and a robust net interest margin of 4.05%.
The bank demonstrated solid financial health with loan growth of 2% annualized and average deposit growth of 3% annualized. Asset quality remained stable with net charge-offs at 21 basis points. The Board approved a quarterly dividend increase to $0.25 per share, representing a 4.2% increase. Additionally, the company's pending acquisition of Westfield Bank in Northeast Ohio is progressing with regulatory approvals expected this year.
First Financial Bancorp (NASDAQ:FFBC) ha riportato risultati finanziari solidi per il secondo trimestre del 2025, con un utile per azione diluita di 0,73 dollari (0,74 dollari rettificato). La società ha raggiunto un fatturato trimestrale record di 226,3 milioni di dollari, con un incremento del 5% rispetto allo stesso periodo dell'anno precedente. I principali indicatori di performance includono un rendimento medio delle attività dell'1,52% e un robusto margine di interesse netto del 4,05%.
La banca ha mostrato una solida salute finanziaria con una crescita annualizzata dei prestiti del 2% e una crescita annualizzata media dei depositi del 3%. La qualità degli attivi è rimasta stabile con perdite nette su crediti pari a 21 punti base. Il Consiglio di Amministrazione ha approvato un aumento del dividendo trimestrale a 0,25 dollari per azione, rappresentando un incremento del 4,2%. Inoltre, l'acquisizione in corso di Westfield Bank nel Nordest dell'Ohio sta procedendo con le approvazioni regolamentari previste entro quest'anno.
First Financial Bancorp (NASDAQ:FFBC) reportó sólidos resultados financieros en el segundo trimestre de 2025, con ganancias por acción diluida de 0,73 dólares (0,74 dólares ajustados). La compañía alcanzó un ingreso trimestral récord de 226,3 millones de dólares, lo que representa un aumento del 5% interanual. Las métricas clave de desempeño incluyen un retorno sobre activos promedio del 1,52% y un sólido margen neto de interés del 4,05%.
El banco mostró una sólida salud financiera con un crecimiento anualizado de préstamos del 2% y un crecimiento anualizado promedio de depósitos del 3%. La calidad de los activos se mantuvo estable con cargos netos por incobrables de 21 puntos básicos. La Junta aprobó un aumento del dividendo trimestral a 0,25 dólares por acción, representando un incremento del 4,2%. Además, la adquisición pendiente de Westfield Bank en el noreste de Ohio avanza con aprobaciones regulatorias previstas para este año.
First Financial Bancorp (NASDAQ:FFBC)는 2025년 2분기 강력한 재무 실적을 보고했으며, 희석 주당 순이익은 0.73달러(조정 후 0.74달러)였습니다. 회사는 전례 없는 분기 매출 2억 2,630만 달러를 기록하며 전년 동기 대비 5% 증가를 달성했습니다. 주요 성과 지표로는 평균 자산 수익률 1.52%와 견고한 순이자마진 4.05%가 포함됩니다.
은행은 연환산 대출 성장률 2%와 평균 연환산 예금 성장률 3%을 기록하며 견고한 재무 건전성을 입증했습니다. 자산 품질은 순대손충당금 21bp로 안정적이었습니다. 이사회는 분기 배당금을 주당 0.25달러로 인상하는 것을 승인했으며, 이는 4.2% 증가한 수치입니다. 또한, 회사의 노스이스트 오하이오에 위치한 Westfield Bank 인수는 올해 내 규제 승인 획득이 예상되어 순조롭게 진행 중입니다.
First Financial Bancorp (NASDAQ:FFBC) a annoncé de solides résultats financiers pour le deuxième trimestre 2025, avec un bénéfice par action diluée de 0,73 $ (0,74 $ ajusté). La société a atteint un chiffre d'affaires trimestriel record de 226,3 millions de dollars, soit une augmentation de 5 % par rapport à l'année précédente. Les indicateurs clés de performance incluent un rendement moyen des actifs de 1,52 % et une marge nette d'intérêt robuste de 4,05 %.
La banque a démontré une bonne santé financière avec une croissance annualisée des prêts de 2 % et une croissance moyenne annualisée des dépôts de 3 %. La qualité des actifs est restée stable avec des pertes nettes sur créances de 21 points de base. Le conseil d'administration a approuvé une augmentation du dividende trimestriel à 0,25 $ par action, soit une hausse de 4,2 %. Par ailleurs, l'acquisition en cours de Westfield Bank dans le nord-est de l'Ohio progresse, avec des approbations réglementaires attendues cette année.
First Financial Bancorp (NASDAQ:FFBC) meldete starke Finanzergebnisse für das zweite Quartal 2025 mit einem verwässerten Gewinn je Aktie von 0,73 USD (bereinigt 0,74 USD). Das Unternehmen erzielte einen rekordverdächtigen Quartalsumsatz von 226,3 Millionen USD, was einem Anstieg von 5 % im Jahresvergleich entspricht. Zu den wichtigsten Leistungskennzahlen zählen eine Rendite auf das durchschnittliche Vermögen von 1,52 % und eine robuste Nettozinsmarge von 4,05 %.
Die Bank zeigte eine solide finanzielle Gesundheit mit einem annualisierten Kreditwachstum von 2 % und einem durchschnittlichen Einlagenwachstum von 3 % jährlich. Die Vermögensqualität blieb stabil, mit Nettoabschreibungen von 21 Basispunkten. Der Vorstand genehmigte eine Erhöhung der Quartalsdividende auf 0,25 USD je Aktie, was einer Steigerung von 4,2 % entspricht. Zudem schreitet die geplante Übernahme der Westfield Bank im Nordosten von Ohio mit erwarteten behördlichen Genehmigungen in diesem Jahr voran.
- Record quarterly revenue of $226.3 million, up 5% year-over-year
- Strong net interest margin of 4.05%, increasing 17 basis points from first quarter
- Noninterest income grew 11% from linked quarter to $67.8 million adjusted
- Tangible book value per share increased 4% to $15.40
- Board approved 4.2% dividend increase to $0.25 per share
- Total capital ratio improved to 14.98%
- Net charge-offs at 21 basis points of total loans
- Nonperforming assets increased 9 basis points to 0.41% of total assets
- Elevated prepayments in commercial real estate loans affecting growth
- Efficiency ratio at 56.9% (56.4% adjusted)
Insights
FFBC delivered record Q2 revenue with margin expansion, fee income growth, and announced a 4.2% dividend increase reflecting strong fundamentals.
First Financial posted exceptional Q2 results with
The bank's profitability metrics strengthened substantially, with return on average assets improving to
Fee income performance was particularly strong, with noninterest income of
On the balance sheet side, loans grew at a
Asset quality remains solid with net charge-offs at
Capital ratios improved with tangible common equity increasing to
Management's outlook is optimistic, with expectations for higher loan growth in the second half of 2025 as CRE payoffs subside. The pending acquisition of Westfield Bank in Northeast Ohio remains on track to close in 2025, providing additional growth opportunities in an attractive market.
- Earnings per diluted share of
;$0.73 on an adjusted(1) basis$0.74 - Return on average assets of
1.52% ;1.54% on an adjusted(1) basis - Net interest margin on FTE basis(1) of
4.05% ; 17 bp increase from first quarter - Record quarterly revenue of
$226.3 million - TCE ratio increased to
8.40% ; ROATCE of20% - Net charge-offs
0.21% as a percentage of total loans - Board of Directors approved quarterly dividend increase to
$0.25
For the three months ended June 30, 2025, the Company reported net income of
Return on average assets for the second quarter of 2025 was
Second quarter 2025 highlights include:
- Robust net interest margin of
4.01% , or4.05% on a fully tax-equivalent basis(1)- 17 bp increase from first quarter
- 12 bp decline in funding costs and 5 bp increase in asset yields
- Noninterest income of
, or$68.1 million as adjusted(1)$67.8 million - Adjustments include
gain on sales of investment securities$0.2 million - Double digit percentage growth from linked quarter in mortgage and bankcard income
- Strong leasing business income of
, an increase of$20.8 million 11.2% from first quarter - Foreign exchange income increased
, or$1.2 million 9.7% from first quarter
- Adjustments include
- Noninterest expenses of
, or$128.7 million as adjusted(1);$127.6 million 0.8% increase from linked quarter- Second quarter adjustments(1) include
of efficiency and acquisition related costs$1.0 million - Efficiency ratio of
56.9% ;56.4% as adjusted(1)
- Second quarter adjustments(1) include
- Loan growth during the quarter of
2% on an annualized basis- Loan balances increased
compared to the linked quarter$62.1 million - Quarterly growth driven by C&I, Agile, Summit and Consumer; offsetting elevated prepayments in ICRE
- Loan balances increased
- Average deposit growth of
3% on an annualized basis- Average deposit balances increased
$114.1 million - Second quarter included
seasonal increase in public funds$85 million - Growth in noninterest bearing deposits, retail CDs, and savings offset by declines in interest-bearing demand and money market balances
- Average deposit balances increased
________________________________________________________________________________
(1) Non-GAAP measure. For details on the calculation of these non-GAAP financial measures and a reconciliation to the GAAP financial measure, see the sections titled "Use of Non-GAAP Financial Measures" in this release and "Appendix: Non-GAAP to GAAP Reconciliation" in the accompanying slide presentation.
- Total Allowance for Credit Losses of
; Total quarterly provision expense of$175.7 million $9.8 million - Loans and leases - ACL of
; ratio to total loans of$158.5 million 1.34% - Unfunded Commitments - ACL of
$17.1 million - Provision expense driven by loan growth and net charge-offs
- Annualized net charge-offs were 21 bps of total loans; 15 bp decline from linked quarter
- Nonperforming assets increased 9 bps to
0.41% of total assets
- Loans and leases - ACL of
- Capital ratios stable and strong
- Total capital ratio increased 8 bps to
14.98% - Tier 1 common equity increased 28 bps to
12.57% - Tangible common equity of
8.40% (1);9.81% (1) excluding impact from AOCI - Tangible book value per share of
(1);$15.40 4% increase from linked quarter
- Total capital ratio increased 8 bps to
Additionally, the Board of Directors approved a quarterly dividend of
Archie Brown, President and CEO, commented on the quarter, "I am thrilled with our performance this quarter. We achieved record revenue of
Mr. Brown continued, "We recorded adjusted(1) noninterest income of
Mr. Brown commented on asset quality, "Asset quality was stable for the quarter. Net charge-offs declined 15 basis points from the first quarter to 21 basis points of total loans and classified asset balances were relatively flat. Our outlook for asset quality remains positive, and we expect net charge-offs to be in the 20-25 basis points range for the remainder of the year."
Mr. Brown discussed capital and an increase to the common dividend, "We are pleased with the strength of our capital levels. Regulatory ratios are very strong and TCE has continued to grow, increasing
Mr. Brown concluded, "We are excited about our recent announcement to acquire Westfield Bank in
Full detail of the Company's second quarter 2025 performance is provided in the accompanying financial statements and slide presentation.
Teleconference / Webcast Information
First Financial's executive management will host a conference call to discuss the Company's financial and operating results on Friday, July 25, 2025 at 8:30 a.m. Eastern Time. Members of the public who would like to listen to the conference call should dial (888) 550-5723 (
Press Release and Additional Information on Website
This press release as well as supplemental information are available to the public through the Investor Relations section of First Financial's website at www.bankatfirst.com.
Use of Non-GAAP Financial Measures
This earnings release contains GAAP financial measures and Non-GAAP financial measures where management believes it to be helpful in understanding the Company's results of operations or financial position. Where Non-GAAP financial measures are used, the comparable GAAP financial measures, as well as a reconciliation to the comparable GAAP financial measure, can be found in the section titled "Appendix: Non-GAAP to GAAP Reconciliation" in the accompanying slide presentation.
Forward-Looking Statements
Certain statements contained in this report which are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as ''believes,'' ''anticipates,'' "likely," "expected," "estimated," ''intends'' and other similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Examples of forward-looking statements include, but are not limited to, statements we make about (i) our future operating or financial performance, including revenues, income or loss and earnings or loss per share, (ii) future common stock dividends, (iii) our capital structure, including future capital levels, (iv) our plans, objectives and strategies, and (v) the assumptions that underlie our forward-looking statements.
As with any forecast or projection, forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that may cause actual results to differ materially from those set forth in the forward-looking statements. Forward-looking statements are not historical facts but instead express only management's beliefs regarding future results or events, many of which, by their nature, are inherently uncertain and outside of management's control. It is possible that actual results and outcomes may differ, possibly materially, from the anticipated results or outcomes indicated in these forward-looking statements. Important factors that could cause actual results to differ materially from those in our forward-looking statements include the following, without limitation:
- economic, market, liquidity, credit, interest rate, operational and technological risks associated with the Company's business;
- future credit quality and performance, including our expectations regarding future loan losses and our allowance for credit losses
- the effect of and changes in policies and laws or regulatory agencies, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and other legislation and regulation relating to the banking industry;
- Management's ability to effectively execute its business plans;
- mergers and acquisitions, including costs or difficulties related to the integration of acquired companies;
- the possibility that any of the anticipated benefits of the Company's acquisitions will not be realized or will not be realized within the expected time period;
- the effect of changes in accounting policies and practices;
- changes in consumer spending, borrowing and saving and changes in unemployment;
- changes in customers' performance and creditworthiness;
- the costs and effects of litigation and of unexpected or adverse outcomes in such litigation;
- current and future economic and market conditions, including the effects of changes in housing prices, fluctuations in unemployment rates,
U.S. fiscal debt, budget and tax matters, geopolitical matters, trade and tariff policies, and any slowdown in global economic growth; - the adverse impact on the
U.S. economy, including the markets in which we operate, of the novel coronavirus, which causes the Coronavirus disease 2019 ("COVID-19"), global pandemic, and the impact on the performance of our loan and lease portfolio, the market value of our investment securities, the availability of sources of funding and the demand for our products; - our capital and liquidity requirements (including under regulatory capital standards, such as the Basel III capital standards) and our ability to generate capital internally or raise capital on favorable terms;
- financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including the Dodd-Frank Act and other legislation and regulation relating to bank products and services;
- the effect of the current interest rate environment or changes in interest rates or in the level or composition of our assets or liabilities on our net interest income, net interest margin and our mortgage originations, mortgage servicing rights and mortgage loans held for sale;
- the effect of a fall in stock market prices on our brokerage, asset and wealth management businesses;
- a failure in or breach of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber attacks;
- the effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin; and
- our ability to develop and execute effective business plans and strategies.
Additional factors that may cause our actual results to differ materially from those described in our forward-looking statements can be found in our Form 10-K for the year ended December 31, 2024, as well as our other filings with the SEC, which are available on the SEC website at www.sec.gov.
All forward-looking statements included in this filing are made as of the date hereof and are based on information available at the time of the filing. Except as required by law, the Company does not assume any obligation to update any forward-looking statement.
About First Financial Bancorp.
First Financial Bancorp. is a
FIRST FINANCIAL BANCORP. | |||||||||||||
CONSOLIDATED FINANCIAL HIGHLIGHTS | |||||||||||||
(Dollars in thousands, except per share data) | |||||||||||||
(Unaudited) | |||||||||||||
Three Months Ended, | Six months ended, | ||||||||||||
June 30, | Mar. 31, | Dec. 31, | Sep. 30, | June 30, | June 30, | ||||||||
2025 | 2025 | 2024 | 2024 | 2024 | 2025 | 2024 | |||||||
RESULTS OF OPERATIONS | |||||||||||||
Net income | $ 69,996 | $ 51,293 | $ 64,885 | $ 52,451 | $ 60,805 | $ 121,289 | $ 111,494 | ||||||
Net earnings per share - basic | $ 0.74 | $ 0.54 | $ 0.69 | $ 0.56 | $ 0.64 | $ 1.28 | $ 1.18 | ||||||
Net earnings per share - diluted | $ 0.73 | $ 0.54 | $ 0.68 | $ 0.55 | $ 0.64 | $ 1.27 | $ 1.17 | ||||||
Dividends declared per share | $ 0.24 | $ 0.24 | $ 0.24 | $ 0.24 | $ 0.23 | $ 0.48 | $ 0.46 | ||||||
KEY FINANCIAL RATIOS | |||||||||||||
Return on average assets | 1.52 % | 1.13 % | 1.41 % | 1.17 % | 1.38 % | 1.33 % | 1.28 % | ||||||
Return on average shareholders' equity | 11.16 % | 8.46 % | 10.57 % | 8.80 % | 10.72 % | 9.83 % | 9.86 % | ||||||
Return on average tangible shareholders' equity (1) | 19.61 % | 15.16 % | 19.08 % | 16.29 % | 20.57 % | 17.44 % | 18.97 % | ||||||
Net interest margin | 4.01 % | 3.84 % | 3.91 % | 4.05 % | 4.06 % | 3.93 % | 4.06 % | ||||||
Net interest margin (fully tax equivalent) (1)(2) | 4.05 % | 3.88 % | 3.94 % | 4.08 % | 4.10 % | 3.96 % | 4.10 % | ||||||
Ending shareholders' equity as a percent of ending assets | 13.73 % | 13.55 % | 13.13 % | 13.50 % | 12.81 % | 13.73 % | 12.81 % | ||||||
Ending tangible shareholders' equity as a percent of: | |||||||||||||
Ending tangible assets (1) | 8.40 % | 8.16 % | 7.73 % | 7.98 % | 7.23 % | 8.40 % | 7.23 % | ||||||
Risk-weighted assets (1) | 10.44 % | 10.10 % | 9.61 % | 9.86 % | 8.95 % | 10.44 % | 8.95 % | ||||||
Average shareholders' equity as a percent of average | 13.66 % | 13.38 % | 13.36 % | 13.28 % | 12.87 % | 13.52 % | 12.98 % | ||||||
Average tangible shareholders' equity as a percent of | 8.26 % | 7.94 % | 7.87 % | 7.64 % | 7.15 % | 8.10 % | 7.20 % | ||||||
Book value per share | $ 26.71 | $ 26.13 | $ 25.53 | $ 25.66 | $ 24.36 | $ 26.71 | $ 24.36 | ||||||
Tangible book value per share (1) | $ 15.40 | $ 14.80 | $ 14.15 | $ 14.26 | $ 12.94 | $ 15.40 | $ 12.94 | ||||||
Common equity tier 1 ratio (3) | 12.57 % | 12.29 % | 12.16 % | 12.04 % | 11.78 % | 12.57 % | 11.78 % | ||||||
Tier 1 ratio (3) | 12.89 % | 12.61 % | 12.48 % | 12.37 % | 12.11 % | 12.89 % | 12.11 % | ||||||
Total capital ratio (3) | 14.98 % | 14.90 % | 14.64 % | 14.58 % | 14.47 % | 14.98 % | 14.47 % | ||||||
Leverage ratio (3) | 10.28 % | 10.01 % | 9.98 % | 9.93 % | 9.73 % | 10.28 % | 9.73 % | ||||||
AVERAGE BALANCE SHEET ITEMS | |||||||||||||
Loans (4) | $ 11,792,840 | $ 11,724,727 | $ 11,687,886 | $ 11,534,000 | $ 11,440,930 | $ 11,758,972 | $ 11,253,557 | ||||||
Investment securities | 3,478,921 | 3,411,593 | 3,372,539 | 3,274,498 | 3,131,541 | 3,445,443 | 3,134,603 | ||||||
Interest-bearing deposits with other banks | 542,815 | 615,812 | 654,251 | 483,880 | 599,348 | 579,112 | 576,501 | ||||||
Total earning assets | $ 15,814,576 | $ 15,752,132 | $ 15,714,676 | $ 15,292,378 | $ 15,171,819 | $ 15,783,527 | $ 14,964,661 | ||||||
Total assets | $ 18,419,437 | $ 18,368,604 | $ 18,273,419 | $ 17,854,191 | $ 17,728,251 | $ 18,394,161 | $ 17,517,236 | ||||||
Noninterest-bearing deposits | $ 3,143,081 | $ 3,091,037 | $ 3,162,643 | $ 3,106,239 | $ 3,144,198 | $ 3,117,203 | $ 3,156,974 | ||||||
Interest-bearing deposits | 11,211,694 | 11,149,633 | 11,177,010 | 10,690,265 | 10,486,068 | 11,180,835 | 10,297,742 | ||||||
Total deposits | $ 14,354,775 | $ 14,240,670 | $ 14,339,653 | $ 13,796,504 | $ 13,630,266 | $ 14,298,038 | $ 13,454,716 | ||||||
Borrowings | $ 910,573 | $ 1,001,337 | $ 855,083 | $ 1,053,737 | $ 1,171,246 | $ 955,704 | $ 1,155,130 | ||||||
Shareholders' equity | $ 2,515,747 | $ 2,457,785 | $ 2,441,045 | $ 2,371,125 | $ 2,281,040 | $ 2,486,926 | $ 2,273,301 | ||||||
CREDIT QUALITY RATIOS | |||||||||||||
Allowance to ending loans | 1.34 % | 1.33 % | 1.33 % | 1.37 % | 1.36 % | 1.34 % | 1.36 % | ||||||
Allowance to nonaccrual loans | 206.08 % | 261.07 % | 237.66 % | 242.72 % | 249.21 % | 206.08 % | 249.21 % | ||||||
Nonaccrual loans to total loans | 0.65 % | 0.51 % | 0.56 % | 0.57 % | 0.54 % | 0.65 % | 0.54 % | ||||||
Nonperforming assets to ending loans, plus OREO | 0.65 % | 0.51 % | 0.56 % | 0.57 % | 0.54 % | 0.65 % | 0.54 % | ||||||
Nonperforming assets to total assets | 0.41 % | 0.32 % | 0.36 % | 0.36 % | 0.35 % | 0.41 % | 0.35 % | ||||||
Classified assets to total assets | 1.15 % | 1.16 % | 1.21 % | 1.14 % | 1.07 % | 1.15 % | 1.07 % | ||||||
Net charge-offs to average loans (annualized) | 0.21 % | 0.36 % | 0.40 % | 0.25 % | 0.15 % | 0.28 % | 0.27 % |
(1) | Non-GAAP measure. For details on the calculation of these non-GAAP financial measures and a reconciliation to the GAAP financial measure, see the sections titled "Use of Non-GAAP Financial Measures" in this release and "Appendix: Non-GAAP to GAAP Reconciliation" in the accompanying slide presentation. |
(2) | The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a |
(3) | June 30, 2025 regulatory capital ratios are preliminary. |
(4) | Includes loans held for sale. |
FIRST FINANCIAL BANCORP. | |||||||||||
CONSOLIDATED STATEMENTS OF INCOME | |||||||||||
(Dollars in thousands, except per share data) | |||||||||||
(Unaudited) | |||||||||||
Three months ended, | Six months ended, | ||||||||||
June 30, | June 30, | ||||||||||
2025 | 2024 | % Change | 2025 | 2024 | % Change | ||||||
Interest income | |||||||||||
Loans and leases, including fees | $ 201,460 | $ 211,760 | (4.9) % | $ 398,623 | $ 413,600 | (3.6) % | |||||
Investment securities | |||||||||||
Taxable | 36,243 | 30,295 | 19.6 % | 70,644 | 58,591 | 20.6 % | |||||
Tax-exempt | 2,233 | 2,704 | (17.4) % | 4,437 | 5,796 | (23.4) % | |||||
Total investment securities interest | 38,476 | 32,999 | 16.6 % | 75,081 | 64,387 | 16.6 % | |||||
Other earning assets | 5,964 | 7,960 | (25.1) % | 12,615 | 15,418 | (18.2) % | |||||
Total interest income | 245,900 | 252,719 | (2.7) % | 486,319 | 493,405 | (1.4) % | |||||
Interest expense | |||||||||||
Deposits | 75,484 | 83,022 | (9.1) % | 154,125 | 159,097 | (3.1) % | |||||
Short-term borrowings | 6,393 | 11,395 | (43.9) % | 13,938 | 22,338 | (37.6) % | |||||
Long-term borrowings | 5,754 | 4,991 | 15.3 % | 10,691 | 9,919 | 7.8 % | |||||
Total interest expense | 87,631 | 99,408 | (11.8) % | 178,754 | 191,354 | (6.6) % | |||||
Net interest income | 158,269 | 153,311 | 3.2 % | 307,565 | 302,051 | 1.8 % | |||||
Provision for credit losses-loans and leases | 9,084 | 16,157 | (43.8) % | 18,225 | 29,576 | (38.4) % | |||||
Provision for credit losses-unfunded commitments | 718 | 286 | 151.0 % | 277 | (1,973) | (114.0) % | |||||
Net interest income after provision for credit losses | 148,467 | 136,868 | 8.5 % | 289,063 | 274,448 | 5.3 % | |||||
Noninterest income | |||||||||||
Service charges on deposit accounts | 7,766 | 7,188 | 8.0 % | 15,229 | 14,100 | 8.0 % | |||||
Wealth management fees | 7,787 | 7,172 | 8.6 % | 15,924 | 13,848 | 15.0 % | |||||
Bankcard income | 3,737 | 3,900 | (4.2) % | 7,047 | 7,042 | 0.1 % | |||||
Client derivative fees | 1,674 | 763 | 119.4 % | 3,245 | 2,013 | 61.2 % | |||||
Foreign exchange income | 13,760 | 16,787 | (18.0) % | 26,304 | 27,222 | (3.4) % | |||||
Leasing business income | 20,797 | 16,828 | 23.6 % | 39,500 | 31,417 | 25.7 % | |||||
Net gains from sales of loans | 6,687 | 4,479 | 49.3 % | 11,009 | 8,263 | 33.2 % | |||||
Net gain (loss) on investment securities | 243 | (64) | 479.7 % | (9,706) | (5,251) | 84.8 % | |||||
Other | 5,612 | 4,448 | 26.2 % | 10,594 | 9,359 | 13.2 % | |||||
Total noninterest income | 68,063 | 61,501 | 10.7 % | 119,146 | 108,013 | 10.3 % | |||||
Noninterest expenses | |||||||||||
Salaries and employee benefits | 74,917 | 75,225 | (0.4) % | 150,155 | 149,262 | 0.6 % | |||||
Net occupancy | 5,845 | 5,793 | 0.9 % | 11,864 | 11,716 | 1.3 % | |||||
Furniture and equipment | 3,441 | 3,646 | (5.6) % | 7,254 | 7,334 | (1.1) % | |||||
Data processing | 9,020 | 8,877 | 1.6 % | 17,779 | 17,182 | 3.5 % | |||||
Marketing | 2,737 | 2,605 | 5.1 % | 4,755 | 4,567 | 4.1 % | |||||
Communication | 681 | 816 | (16.5) % | 1,493 | 1,611 | (7.3) % | |||||
Professional services | 3,549 | 2,885 | 23.0 % | 6,288 | 5,153 | 22.0 % | |||||
Amortization of tax credit investments | 111 | 31 | 258.1 % | 223 | 62 | 259.7 % | |||||
State intangible tax | 1,517 | 875 | 73.4 % | 2,394 | 1,752 | 36.6 % | |||||
FDIC assessments | 2,611 | 2,657 | (1.7) % | 5,670 | 5,437 | 4.3 % | |||||
Intangible amortization | 2,358 | 2,396 | (1.6) % | 4,717 | 4,697 | 0.4 % | |||||
Leasing business expense | 13,155 | 10,128 | 29.9 % | 25,957 | 19,882 | 30.6 % | |||||
Other | 8,729 | 7,640 | 14.3 % | 18,198 | 17,274 | 5.3 % | |||||
Total noninterest expenses | 128,671 | 123,574 | 4.1 % | 256,747 | 245,929 | 4.4 % | |||||
Income before income taxes | 87,859 | 74,795 | 17.5 % | 151,462 | 136,532 | 10.9 % | |||||
Income tax expense | 17,863 | 13,990 | 27.7 % | 30,173 | 25,038 | 20.5 % | |||||
Net income | $ 69,996 | $ 60,805 | 15.1 % | $ 121,289 | $ 111,494 | 8.8 % | |||||
ADDITIONAL DATA | |||||||||||
Net earnings per share - basic | $ 0.74 | $ 0.64 | $ 1.28 | $ 1.18 | |||||||
Net earnings per share - diluted | $ 0.73 | $ 0.64 | $ 1.27 | $ 1.17 | |||||||
Dividends declared per share | $ 0.24 | $ 0.23 | $ 0.48 | $ 0.46 | |||||||
Return on average assets | 1.52 % | 1.38 % | 1.33 % | 1.28 % | |||||||
Return on average shareholders' equity | 11.16 % | 10.72 % | 9.83 % | 9.86 % | |||||||
Interest income | $ 245,900 | $ 252,719 | (2.7) % | $ 486,319 | $ 493,405 | (1.4) % | |||||
Tax equivalent adjustment | 1,246 | 1,418 | (12.1) % | 2,459 | 2,953 | (16.7) % | |||||
Interest income - tax equivalent | 247,146 | 254,137 | (2.8) % | 488,778 | 496,358 | (1.5) % | |||||
Interest expense | 87,631 | 99,408 | (11.8) % | 178,754 | 191,354 | (6.6) % | |||||
Net interest income - tax equivalent | $ 159,515 | $ 154,729 | 3.1 % | $ 310,024 | $ 305,004 | 1.6 % | |||||
Net interest margin | 4.01 % | 4.06 % | 3.93 % | 4.06 % | |||||||
Net interest margin (fully tax equivalent) (1) | 4.05 % | 4.10 % | 3.96 % | 4.10 % | |||||||
Full-time equivalent employees | 2,033 | 2,144 | |||||||||
(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a practice in the banking industry to present net interest income on a fully tax equivalent basis. Therefore, management believes these measures provide useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons. |
FIRST FINANCIAL BANCORP. | |||||||
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME | |||||||
(Dollars in thousands, except per share data) | |||||||
(Unaudited) | |||||||
2025 | |||||||
Second | First | Year to | % Change | ||||
Quarter | Quarter | Date | Linked Qtr. | ||||
Interest income | |||||||
Loans and leases, including fees | 2.2 % | ||||||
Investment securities | |||||||
Taxable | 36,243 | 34,401 | 70,644 | 5.4 % | |||
Tax-exempt | 2,233 | 2,204 | 4,437 | 1.3 % | |||
Total investment securities interest | 38,476 | 36,605 | 75,081 | 5.1 % | |||
Other earning assets | 5,964 | 6,651 | 12,615 | (10.3) % | |||
Total interest income | 245,900 | 240,419 | 486,319 | 2.3 % | |||
Interest expense | |||||||
Deposits | 75,484 | 78,641 | 154,125 | (4.0) % | |||
Short-term borrowings | 6,393 | 7,545 | 13,938 | (15.3) % | |||
Long-term borrowings | 5,754 | 4,937 | 10,691 | 16.5 % | |||
Total interest expense | 87,631 | 91,123 | 178,754 | (3.8) % | |||
Net interest income | 158,269 | 149,296 | 307,565 | 6.0 % | |||
Provision for credit losses-loans and leases | 9,084 | 9,141 | 18,225 | (0.6) % | |||
Provision for credit losses-unfunded commitments | 718 | (441) | 277 | (262.8) % | |||
Net interest income after provision for credit losses | 148,467 | 140,596 | 289,063 | 5.6 % | |||
Noninterest income | |||||||
Service charges on deposit accounts | 7,766 | 7,463 | 15,229 | 4.1 % | |||
Wealth management fees | 7,787 | 8,137 | 15,924 | (4.3) % | |||
Bankcard income | 3,737 | 3,310 | 7,047 | 12.9 % | |||
Client derivative fees | 1,674 | 1,571 | 3,245 | 6.6 % | |||
Foreign exchange income | 13,760 | 12,544 | 26,304 | 9.7 % | |||
Leasing business income | 20,797 | 18,703 | 39,500 | 11.2 % | |||
Net gains from sales of loans | 6,687 | 4,322 | 11,009 | 54.7 % | |||
Net gain (loss) on investment securities | 243 | (9,949) | (9,706) | 102.4 % | |||
Other | 5,612 | 4,982 | 10,594 | 12.6 % | |||
Total noninterest income | 68,063 | 51,083 | 119,146 | 33.2 % | |||
Noninterest expenses | |||||||
Salaries and employee benefits | 74,917 | 75,238 | 150,155 | (0.4) % | |||
Net occupancy | 5,845 | 6,019 | 11,864 | (2.9) % | |||
Furniture and equipment | 3,441 | 3,813 | 7,254 | (9.8) % | |||
Data processing | 9,020 | 8,759 | 17,779 | 3.0 % | |||
Marketing | 2,737 | 2,018 | 4,755 | 35.6 % | |||
Communication | 681 | 812 | 1,493 | (16.1) % | |||
Professional services | 3,549 | 2,739 | 6,288 | 29.6 % | |||
Amortization of tax credit investments | 111 | 112 | 223 | (0.9) % | |||
State intangible tax | 1,517 | 877 | 2,394 | 73.0 % | |||
FDIC assessments | 2,611 | 3,059 | 5,670 | (14.6) % | |||
Intangible amortization | 2,358 | 2,359 | 4,717 | 0.0 % | |||
Leasing business expense | 13,155 | 12,802 | 25,957 | 2.8 % | |||
Other | 8,729 | 9,469 | 18,198 | (7.8) % | |||
Total noninterest expenses | 128,671 | 128,076 | 256,747 | 0.5 % | |||
Income before income taxes | 87,859 | 63,603 | 151,462 | 38.1 % | |||
Income tax expense | 17,863 | 12,310 | 30,173 | 45.1 % | |||
Net income | $ 69,996 | $ 51,293 | 36.5 % | ||||
ADDITIONAL DATA | |||||||
Net earnings per share - basic | $ 0.74 | $ 0.54 | $ 1.28 | ||||
Net earnings per share - diluted | $ 0.73 | $ 0.54 | $ 1.27 | ||||
Dividends declared per share | $ 0.24 | $ 0.24 | $ 0.48 | ||||
Return on average assets | 1.52 % | 1.13 % | 1.33 % | ||||
Return on average shareholders' equity | 11.16 % | 8.46 % | 9.83 % | ||||
Interest income | 2.3 % | ||||||
Tax equivalent adjustment | 1,246 | 1,213 | 2,459 | 2.7 % | |||
Interest income - tax equivalent | 247,146 | 241,632 | 488,778 | 2.3 % | |||
Interest expense | 87,631 | 91,123 | 178,754 | (3.8) % | |||
Net interest income - tax equivalent | 6.0 % | ||||||
Net interest margin | 4.01 % | 3.84 % | 3.93 % | ||||
Net interest margin (fully tax equivalent) (1) | 4.05 % | 3.88 % | 3.96 % | ||||
Full-time equivalent employees | 2,033 | 2,021 | |||||
(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a practice in the banking industry to present net interest income on a fully tax equivalent basis. Therefore, management believes these measures provide useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons. |
FIRST FINANCIAL BANCORP. | |||||||||
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME | |||||||||
(Dollars in thousands, except per share data) | |||||||||
(Unaudited) | |||||||||
2024 | |||||||||
Fourth | Third | Second | First | Full | |||||
Quarter | Quarter | Quarter | Quarter | Year | |||||
Interest income | |||||||||
Loans and leases, including fees | $ 215,433 | $ 211,760 | $ 201,840 | $ 836,541 | |||||
Investment securities | |||||||||
Taxable | 33,978 | 32,367 | 30,295 | 28,296 | 124,936 | ||||
Tax-exempt | 2,423 | 2,616 | 2,704 | 3,092 | 10,835 | ||||
Total investment securities interest | 36,401 | 34,983 | 32,999 | 31,388 | 135,771 | ||||
Other earning assets | 7,662 | 6,703 | 7,960 | 7,458 | 29,783 | ||||
Total interest income | 251,571 | 257,119 | 252,719 | 240,686 | 1,002,095 | ||||
Interest expense | |||||||||
Deposits | 85,441 | 86,554 | 83,022 | 76,075 | 331,092 | ||||
Short-term borrowings | 6,586 | 9,932 | 11,395 | 10,943 | 38,856 | ||||
Long-term borrowings | 5,145 | 5,073 | 4,991 | 4,928 | 20,137 | ||||
Total interest expense | 97,172 | 101,559 | 99,408 | 91,946 | 390,085 | ||||
Net interest income | 154,399 | 155,560 | 153,311 | 148,740 | 612,010 | ||||
Provision for credit losses-loans and leases | 9,705 | 9,930 | 16,157 | 13,419 | 49,211 | ||||
Provision for credit losses-unfunded commitments | (273) | 694 | 286 | (2,259) | (1,552) | ||||
Net interest income after provision for credit losses | 144,967 | 144,936 | 136,868 | 137,580 | 564,351 | ||||
Noninterest income | |||||||||
Service charges on deposit accounts | 7,632 | 7,547 | 7,188 | 6,912 | 29,279 | ||||
Wealth management fees | 7,962 | 6,910 | 7,172 | 6,676 | 28,720 | ||||
Bankcard income | 3,659 | 3,698 | 3,900 | 3,142 | 14,399 | ||||
Client derivative fees | 1,528 | 1,160 | 763 | 1,250 | 4,701 | ||||
Foreign exchange income | 16,794 | 12,048 | 16,787 | 10,435 | 56,064 | ||||
Leasing business income | 19,413 | 16,811 | 16,828 | 14,589 | 67,641 | ||||
Net gains from sales of loans | 4,634 | 5,021 | 4,479 | 3,784 | 17,918 | ||||
Net gain (loss) on investment securities | 144 | (17,468) | (64) | (5,187) | (22,575) | ||||
Other | 8,088 | 9,974 | 4,448 | 4,911 | 27,421 | ||||
Total noninterest income | 69,854 | 45,701 | 61,501 | 46,512 | 223,568 | ||||
Noninterest expenses | |||||||||
Salaries and employee benefits | 80,314 | 74,813 | 75,225 | 74,037 | 304,389 | ||||
Net occupancy | 5,415 | 5,919 | 5,793 | 5,923 | 23,050 | ||||
Furniture and equipment | 3,476 | 3,617 | 3,646 | 3,688 | 14,427 | ||||
Data processing | 9,139 | 8,857 | 8,877 | 8,305 | 35,178 | ||||
Marketing | 2,204 | 2,255 | 2,605 | 1,962 | 9,026 | ||||
Communication | 767 | 851 | 816 | 795 | 3,229 | ||||
Professional services | 6,631 | 2,303 | 2,885 | 2,268 | 14,087 | ||||
Amortization of tax credit investments | 14,303 | 31 | 31 | 31 | 14,396 | ||||
State intangible tax | (104) | 876 | 875 | 877 | 2,524 | ||||
FDIC assessments | 2,736 | 3,036 | 2,657 | 2,780 | 11,209 | ||||
Intangible amortization | 2,395 | 2,395 | 2,396 | 2,301 | 9,487 | ||||
Leasing business expense | 12,536 | 11,899 | 10,128 | 9,754 | 44,317 | ||||
Other | 8,095 | 8,907 | 7,640 | 9,634 | 34,276 | ||||
Total noninterest expenses | 147,907 | 125,759 | 123,574 | 122,355 | 519,595 | ||||
Income before income taxes | 66,914 | 64,878 | 74,795 | 61,737 | 268,324 | ||||
Income tax expense | 2,029 | 12,427 | 13,990 | 11,048 | 39,494 | ||||
Net income | $ 64,885 | $ 52,451 | $ 60,805 | $ 50,689 | $ 228,830 | ||||
ADDITIONAL DATA | |||||||||
Net earnings per share - basic | $ 0.69 | $ 0.56 | $ 0.64 | $ 0.54 | $ 2.42 | ||||
Net earnings per share - diluted | $ 0.68 | $ 0.55 | $ 0.64 | $ 0.53 | $ 2.40 | ||||
Dividends declared per share | $ 0.24 | $ 0.24 | $ 0.23 | $ 0.23 | $ 0.94 | ||||
Return on average assets | 1.41 % | 1.17 % | 1.38 % | 1.18 % | 1.29 % | ||||
Return on average shareholders' equity | 10.57 % | 8.80 % | 10.72 % | 9.00 % | 9.78 % | ||||
Interest income | $ 257,119 | $ 252,719 | $ 240,686 | $ 1,002,095 | |||||
Tax equivalent adjustment | 1,274 | 1,362 | 1,418 | 1,535 | 5,589 | ||||
Interest income - tax equivalent | 252,845 | 258,481 | 254,137 | 242,221 | 1,007,684 | ||||
Interest expense | 97,172 | 101,559 | 99,408 | 91,946 | 390,085 | ||||
Net interest income - tax equivalent | $ 156,922 | $ 154,729 | $ 150,275 | $ 617,599 | |||||
Net interest margin | 3.91 % | 4.05 % | 4.06 % | 4.05 % | 4.02 % | ||||
Net interest margin (fully tax equivalent) (1) | 3.94 % | 4.08 % | 4.10 % | 4.10 % | 4.05 % | ||||
Full-time equivalent employees | 2,064 | 2,084 | 2,144 | 2,116 | |||||
(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a practice in the banking industry to present net interest income on a fully tax equivalent basis. Therefore, management believes these measures provide useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons. |
FIRST FINANCIAL BANCORP. | |||||||||||||
CONSOLIDATED STATEMENTS OF CONDITION | |||||||||||||
(Dollars in thousands) | |||||||||||||
(Unaudited) | |||||||||||||
June 30, | Mar. 31, | Dec. 31, | Sep. 30, | June 30, | % Change | % Change | |||||||
2025 | 2025 | 2024 | 2024 | 2024 | Linked Qtr. | Comp Qtr. | |||||||
ASSETS | |||||||||||||
Cash and due from banks | $ 210,187 | $ 190,610 | $ 174,258 | $ 190,618 | $ 193,794 | 10.3 % | 8.5 % | ||||||
Interest-bearing deposits with other banks | 570,173 | 633,349 | 730,228 | 660,576 | 738,555 | (10.0) % | (22.8) % | ||||||
Investment securities available-for-sale | 3,386,562 | 3,260,981 | 3,183,776 | 3,157,265 | 3,036,758 | 3.9 % | 11.5 % | ||||||
Investment securities held-to-maturity | 72,994 | 76,469 | 76,960 | 77,985 | 78,921 | (4.5) % | (7.5) % | ||||||
Other investments | 122,322 | 120,826 | 114,598 | 120,318 | 132,412 | 1.2 % | (7.6) % | ||||||
Loans held for sale | 26,504 | 17,927 | 13,181 | 12,685 | 16,911 | 47.8 % | 56.7 % | ||||||
Loans and leases | |||||||||||||
Commercial and industrial | 3,927,771 | 3,832,350 | 3,815,858 | 3,678,546 | 3,782,487 | 2.5 % | 3.8 % | ||||||
Lease financing | 587,176 | 573,608 | 598,045 | 587,415 | 534,557 | 2.4 % | 9.8 % | ||||||
Construction real estate | 732,777 | 824,775 | 779,446 | 802,264 | 741,406 | (11.2) % | (1.2) % | ||||||
Commercial real estate | 3,961,513 | 3,956,880 | 4,061,744 | 4,034,820 | 4,076,596 | 0.1 % | (2.8) % | ||||||
Residential real estate | 1,492,688 | 1,479,704 | 1,462,284 | 1,422,186 | 1,377,290 | 0.9 % | 8.4 % | ||||||
Home equity | 903,299 | 872,502 | 849,039 | 825,431 | 800,860 | 3.5 % | 12.8 % | ||||||
Installment | 116,598 | 119,672 | 133,051 | 141,270 | 148,530 | (2.6) % | (21.5) % | ||||||
Credit card | 64,374 | 64,639 | 62,311 | 61,140 | 59,477 | (0.4) % | 8.2 % | ||||||
Total loans | 11,786,196 | 11,724,130 | 11,761,778 | 11,553,072 | 11,521,203 | 0.5 % | 2.3 % | ||||||
Less: | |||||||||||||
Allowance for credit losses | (158,522) | (155,482) | (156,791) | (158,831) | (156,185) | 2.0 % | 1.5 % | ||||||
Net loans | 11,627,674 | 11,568,648 | 11,604,987 | 11,394,241 | 11,365,018 | 0.5 % | 2.3 % | ||||||
Premises and equipment | 197,741 | 197,968 | 197,965 | 196,692 | 197,873 | (0.1) % | (0.1) % | ||||||
Operating leases | 217,100 | 213,648 | 209,119 | 201,080 | 167,472 | 1.6 % | 29.6 % | ||||||
Goodwill | 1,007,656 | 1,007,656 | 1,007,656 | 1,007,656 | 1,007,656 | 0.0 % | 0.0 % | ||||||
Other intangibles | 75,458 | 77,002 | 79,291 | 81,547 | 83,528 | (2.0) % | (9.7) % | ||||||
Accrued interest and other assets | 1,119,884 | 1,089,983 | 1,178,242 | 1,045,669 | 1,147,282 | 2.7 % | (2.4) % | ||||||
Total Assets | $ 18,634,255 | $ 18,570,261 | $ 18,166,180 | 1.0 % | 2.6 % | ||||||||
LIABILITIES | |||||||||||||
Deposits | |||||||||||||
Interest-bearing demand | $ 3,057,232 | $ 3,004,601 | $ 3,095,724 | $ 2,884,971 | $ 2,922,540 | 1.8 % | 4.6 % | ||||||
Savings | 4,979,124 | 4,886,613 | 4,948,768 | 4,710,223 | 4,628,320 | 1.9 % | 7.6 % | ||||||
Time | 3,201,711 | 3,144,440 | 3,152,265 | 3,244,861 | 3,049,635 | 1.8 % | 5.0 % | ||||||
Total interest-bearing deposits | 11,238,067 | 11,035,654 | 11,196,757 | 10,840,055 | 10,600,495 | 1.8 % | 6.0 % | ||||||
Noninterest-bearing | 3,131,926 | 3,161,302 | 3,132,381 | 3,107,699 | 3,061,427 | (0.9) % | 2.3 % | ||||||
Total deposits | 14,369,993 | 14,196,956 | 14,329,138 | 13,947,754 | 13,661,922 | 1.2 % | 5.2 % | ||||||
FHLB short-term borrowings | 680,000 | 735,000 | 625,000 | 765,000 | 1,040,000 | (7.5) % | (34.6) % | ||||||
Other | 4,699 | 64,792 | 130,452 | 46,653 | 139,172 | (92.7) % | (96.6) % | ||||||
Total short-term borrowings | 684,699 | 799,792 | 755,452 | 811,653 | 1,179,172 | (14.4) % | (41.9) % | ||||||
Long-term debt | 344,955 | 345,878 | 347,509 | 344,086 | 338,556 | (0.3) % | 1.9 % | ||||||
Total borrowed funds | 1,029,654 | 1,145,670 | 1,102,961 | 1,155,739 | 1,517,728 | (10.1) % | (32.2) % | ||||||
Accrued interest and other liabilities | 676,453 | 611,206 | 700,121 | 592,401 | 660,091 | 10.7 % | 2.5 % | ||||||
Total Liabilities | 16,076,100 | 15,953,832 | 16,132,220 | 15,695,894 | 15,839,741 | 0.8 % | 1.5 % | ||||||
SHAREHOLDERS' EQUITY | |||||||||||||
Common stock | 1,638,796 | 1,637,041 | 1,642,055 | 1,639,045 | 1,635,705 | 0.1 % | 0.2 % | ||||||
Retained earnings | 1,351,674 | 1,304,636 | 1,276,329 | 1,234,375 | 1,204,844 | 3.6 % | 12.2 % | ||||||
Accumulated other comprehensive income (loss) | (246,384) | (253,888) | (289,799) | (232,262) | (323,409) | (3.0) % | (23.8) % | ||||||
Treasury stock, at cost | (185,931) | (186,554) | (190,544) | (190,720) | (190,701) | (0.3) % | (2.5) % | ||||||
Total Shareholders' Equity | 2,558,155 | 2,501,235 | 2,438,041 | 2,450,438 | 2,326,439 | 2.3 % | 10.0 % | ||||||
Total Liabilities and Shareholders' Equity | $ 18,634,255 | $ 18,570,261 | $ 18,166,180 | 1.0 % | 2.6 % | ||||||||
FIRST FINANCIAL BANCORP. | |||||||||||||
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION | |||||||||||||
(Dollars in thousands) | |||||||||||||
(Unaudited) | |||||||||||||
Quarterly Averages | Year-to-Date Averages | ||||||||||||
June 30, | Mar. 31, | Dec. 31, | Sep. 30, | June 30, | June 30, | ||||||||
2025 | 2025 | 2024 | 2024 | 2024 | 2025 | 2024 | |||||||
ASSETS | |||||||||||||
Cash and due from banks | $ 174,375 | $ 164,734 | $ 182,242 | $ 179,321 | $ 174,435 | $ 169,581 | $ 189,277 | ||||||
Interest-bearing deposits with other banks | 542,815 | 615,812 | 654,251 | 483,880 | 599,348 | 579,112 | 576,501 | ||||||
Investment securities | 3,478,921 | 3,411,593 | 3,372,539 | 3,274,498 | 3,131,541 | 3,445,443 | 3,134,603 | ||||||
Loans held for sale | 25,026 | 10,212 | 17,284 | 16,399 | 14,075 | 17,660 | 13,072 | ||||||
Loans and leases | |||||||||||||
Commercial and industrial | 3,881,001 | 3,787,207 | 3,727,549 | 3,723,761 | 3,716,083 | 3,834,363 | 3,629,779 | ||||||
Lease financing | 581,091 | 585,119 | 587,110 | 550,634 | 509,758 | 583,094 | 495,149 | ||||||
Construction real estate | 784,028 | 797,100 | 826,936 | 763,779 | 683,780 | 790,528 | 643,877 | ||||||
Commercial real estate | 3,958,730 | 4,018,211 | 4,045,347 | 4,059,939 | 4,146,764 | 3,988,306 | 4,124,001 | ||||||
Residential real estate | 1,485,479 | 1,475,703 | 1,442,799 | 1,399,932 | 1,361,133 | 1,480,618 | 1,348,941 | ||||||
Home equity | 891,761 | 858,153 | 837,863 | 811,265 | 790,384 | 875,050 | 777,897 | ||||||
Installment | 117,724 | 127,192 | 136,927 | 143,102 | 151,753 | 122,432 | 154,708 | ||||||
Credit card | 68,000 | 65,830 | 66,071 | 65,189 | 67,200 | 66,921 | 66,133 | ||||||
Total loans | 11,767,814 | 11,714,515 | 11,670,602 | 11,517,601 | 11,426,855 | 11,741,312 | 11,240,485 | ||||||
Less: | |||||||||||||
Allowance for credit losses | (158,170) | (158,206) | (161,477) | (159,252) | (147,666) | (158,188) | (145,808) | ||||||
Net loans | 11,609,644 | 11,556,309 | 11,509,125 | 11,358,349 | 11,279,189 | 11,583,124 | 11,094,677 | ||||||
Premises and equipment | 198,407 | 198,998 | 197,664 | 197,881 | 199,096 | 198,701 | 198,789 | ||||||
Operating leases | 212,684 | 205,181 | 202,110 | 180,118 | 156,457 | 208,953 | 155,556 | ||||||
Goodwill | 1,007,656 | 1,007,656 | 1,007,658 | 1,007,654 | 1,007,657 | 1,007,656 | 1,007,067 | ||||||
Other intangibles | 76,076 | 78,220 | 80,486 | 82,619 | 84,577 | 77,142 | 84,343 | ||||||
Accrued interest and other assets | 1,093,833 | 1,119,889 | 1,050,060 | 1,073,472 | 1,081,876 | 1,106,789 | 1,063,351 | ||||||
Total Assets | $ 18,419,437 | $ 18,273,419 | $ 17,854,191 | $ 17,728,251 | $ 18,394,161 | $ 17,517,236 | |||||||
LIABILITIES | |||||||||||||
Deposits | |||||||||||||
Interest-bearing demand | $ 3,066,986 | $ 3,090,526 | $ 3,081,148 | $ 2,914,934 | $ 2,888,252 | $ 3,078,691 | $ 2,892,010 | ||||||
Savings | 5,005,526 | 4,918,004 | 4,886,784 | 4,694,923 | 4,617,658 | 4,962,007 | 4,508,713 | ||||||
Time | 3,139,182 | 3,141,103 | 3,209,078 | 3,080,408 | 2,980,158 | 3,140,137 | 2,897,019 | ||||||
Total interest-bearing deposits | 11,211,694 | 11,149,633 | 11,177,010 | 10,690,265 | 10,486,068 | 11,180,835 | 10,297,742 | ||||||
Noninterest-bearing | 3,143,081 | 3,091,037 | 3,162,643 | 3,106,239 | 3,144,198 | 3,117,203 | 3,156,974 | ||||||
Total deposits | 14,354,775 | 14,240,670 | 14,339,653 | 13,796,504 | 13,630,266 | 14,298,038 | 13,454,716 | ||||||
Federal funds purchased and securities sold | |||||||||||||
under agreements to repurchase | 4,780 | 2,055 | 2,282 | 10,807 | 750 | 3,425 | 2,477 | ||||||
FHLB short-term borrowings | 532,198 | 553,667 | 415,652 | 626,490 | 669,111 | 542,873 | 657,649 | ||||||
Other | 26,226 | 99,378 | 93,298 | 76,859 | 161,913 | 62,600 | 154,020 | ||||||
Total short-term borrowings | 563,204 | 655,100 | 511,232 | 714,156 | 831,774 | 608,898 | 814,146 | ||||||
Long-term debt | 347,369 | 346,237 | 343,851 | 339,581 | 339,472 | 346,806 | 340,984 | ||||||
Total borrowed funds | 910,573 | 1,001,337 | 855,083 | 1,053,737 | 1,171,246 | 955,704 | 1,155,130 | ||||||
Accrued interest and other liabilities | 638,342 | 668,812 | 637,638 | 632,825 | 645,699 | 653,493 | 634,089 | ||||||
Total Liabilities | 15,903,690 | 15,910,819 | 15,832,374 | 15,483,066 | 15,447,211 | 15,907,235 | 15,243,935 | ||||||
SHAREHOLDERS' EQUITY | |||||||||||||
Common stock | 1,637,782 | 1,641,016 | 1,640,280 | 1,637,045 | 1,634,183 | 1,639,390 | 1,636,009 | ||||||
Retained earnings | 1,322,168 | 1,282,300 | 1,249,263 | 1,210,924 | 1,179,827 | 1,302,344 | 1,162,137 | ||||||
Accumulated other comprehensive loss | (257,873) | (275,068) | (257,792) | (285,978) | (341,941) | (266,423) | (330,771) | ||||||
Treasury stock, at cost | (186,330) | (190,463) | (190,706) | (190,866) | (191,029) | (188,385) | (194,074) | ||||||
Total Shareholders' Equity | 2,515,747 | 2,457,785 | 2,441,045 | 2,371,125 | 2,281,040 | 2,486,926 | 2,273,301 | ||||||
Total Liabilities and Shareholders' Equity | $ 18,419,437 | $ 18,273,419 | $ 17,854,191 | $ 17,728,251 | $ 18,394,161 | $ 17,517,236 | |||||||
FIRST FINANCIAL BANCORP. | ||||||||||||||||||||||||||
NET INTEREST MARGIN RATE/VOLUME ANALYSIS | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||
Quarterly Averages | Year-to-Date Averages | |||||||||||||||||||||||||
June 30, 2025 | March 31, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 | ||||||||||||||||||||||
Balance | Interest | Yield | Balance | Interest | Yield | Balance | Interest | Yield | Balance | Yield | Balance | Yield | ||||||||||||||
Earning assets | ||||||||||||||||||||||||||
Investments: | ||||||||||||||||||||||||||
Investment securities | $ 3,478,921 | $ 38,476 | 4.44 % | $ 3,411,593 | $ 36,605 | 4.35 % | $ 3,131,541 | $ 32,999 | 4.23 % | $ 3,445,443 | 4.39 % | $ 3,134,603 | 4.14 % | |||||||||||||
Interest-bearing deposits with other banks | 542,815 | 5,964 | 4.41 % | 615,812 | 6,651 | 4.38 % | 599,348 | 7,960 | 5.33 % | 579,112 | 4.39 % | 576,501 | 5.39 % | |||||||||||||
Gross loans (1) | 11,792,840 | 201,460 | 6.85 % | 11,724,727 | 197,163 | 6.82 % | 11,440,930 | 211,760 | 7.42 % | 11,758,972 | 6.84 % | 11,253,557 | 7.41 % | |||||||||||||
Total earning assets | 15,814,576 | 245,900 | 6.24 % | 15,752,132 | 240,419 | 6.19 % | 15,171,819 | 252,719 | 6.68 % | 15,783,527 | 6.21 % | 14,964,661 | 6.65 % | |||||||||||||
Nonearning assets | ||||||||||||||||||||||||||
Allowance for credit losses | (158,170) | (158,206) | (147,666) | (158,188) | (145,808) | |||||||||||||||||||||
Cash and due from banks | 174,375 | 164,734 | 174,435 | 169,581 | 189,277 | |||||||||||||||||||||
Accrued interest and other assets | 2,588,656 | 2,609,944 | 2,529,663 | 2,599,241 | 2,509,106 | |||||||||||||||||||||
Total assets | ||||||||||||||||||||||||||
Interest-bearing liabilities | ||||||||||||||||||||||||||
Deposits: | ||||||||||||||||||||||||||
Interest-bearing demand | $ 3,066,986 | $ 14,139 | 1.85 % | $ 3,090,526 | $ 15,188 | 1.99 % | $ 2,888,252 | $ 14,923 | 2.07 % | $ 3,078,691 | 1.92 % | $ 2,892,010 | 2.08 % | |||||||||||||
Savings | 5,005,526 | 29,942 | 2.40 % | 4,918,004 | 30,355 | 2.50 % | 4,617,658 | 33,142 | 2.88 % | 4,962,007 | 2.45 % | 4,508,713 | 2.80 % | |||||||||||||
Time | 3,139,182 | 31,403 | 4.01 % | 3,141,103 | 33,098 | 4.27 % | 2,980,158 | 34,957 | 4.70 % | 3,140,137 | 4.14 % | 2,897,019 | 4.64 % | |||||||||||||
Total interest-bearing deposits | 11,211,694 | 75,484 | 2.70 % | 11,149,633 | 78,641 | 2.86 % | 10,486,068 | 83,022 | 3.18 % | 11,180,835 | 2.78 % | 10,297,742 | 3.12 % | |||||||||||||
Borrowed funds | ||||||||||||||||||||||||||
Short-term borrowings | 563,204 | 6,393 | 4.55 % | 655,100 | 7,545 | 4.67 % | 831,774 | 11,395 | 5.49 % | 608,898 | 4.62 % | 814,146 | 5.53 % | |||||||||||||
Long-term debt | 347,369 | 5,754 | 6.64 % | 346,237 | 4,937 | 5.78 % | 339,472 | 4,991 | 5.90 % | 346,806 | 6.22 % | 340,984 | 5.87 % | |||||||||||||
Total borrowed funds | 910,573 | 12,147 | 5.35 % | 1,001,337 | 12,482 | 5.06 % | 1,171,246 | 16,386 | 5.61 % | 955,704 | 5.20 % | 1,155,130 | 5.63 % | |||||||||||||
Total interest-bearing liabilities | 12,122,267 | 87,631 | 2.90 % | 12,150,970 | 91,123 | 3.04 % | 11,657,314 | 99,408 | 3.42 % | 12,136,539 | 2.97 % | 11,452,872 | 3.37 % | |||||||||||||
Noninterest-bearing liabilities | ||||||||||||||||||||||||||
Noninterest-bearing demand deposits | 3,143,081 | 3,091,037 | 3,144,198 | 3,117,203 | 3,156,974 | |||||||||||||||||||||
Other liabilities | 638,342 | 668,812 | 645,699 | 653,493 | 634,089 | |||||||||||||||||||||
Shareholders' equity | 2,515,747 | 2,457,785 | 2,281,040 | 2,486,926 | 2,273,301 | |||||||||||||||||||||
Total liabilities & shareholders' equity | ||||||||||||||||||||||||||
Net interest income | $ 158,269 | $ 149,296 | $ 153,311 | $ 307,565 | $ 302,051 | |||||||||||||||||||||
Net interest spread | 3.34 % | 3.15 % | 3.26 % | 3.24 % | 3.28 % | |||||||||||||||||||||
Net interest margin | 4.01 % | 3.84 % | 4.06 % | 3.93 % | 4.06 % | |||||||||||||||||||||
Tax equivalent adjustment | 0.04 % | 0.04 % | 0.04 % | 0.03 % | 0.04 % | |||||||||||||||||||||
Net interest margin (fully tax equivalent) | 4.05 % | 3.88 % | 4.10 % | 3.96 % | 4.10 % | |||||||||||||||||||||
(1) Loans held for sale and nonaccrual loans are included in gross loans. |
FIRST FINANCIAL BANCORP. | ||||||||||||||||||
NET INTEREST MARGIN RATE/VOLUME ANALYSIS (1) | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||
(Unaudited) | ||||||||||||||||||
Linked Qtr. Income Variance | Comparable Qtr. Income Variance | Year-to-Date Income Variance | ||||||||||||||||
Rate | Volume | Total | Rate | Volume | Total | Rate | Volume | Total | ||||||||||
Earning assets | ||||||||||||||||||
Investment securities | $ 712 | $ 1,159 | $ 1,871 | $ 1,635 | $ 3,842 | $ 5,477 | $ 3,920 | $ 6,774 | $ 10,694 | |||||||||
Interest-bearing deposits with other banks | 41 | (728) | (687) | (1,375) | (621) | (1,996) | (2,860) | 57 | (2,803) | |||||||||
Gross loans (2) | 932 | 3,365 | 4,297 | (16,312) | 6,012 | (10,300) | (32,110) | 17,133 | (14,977) | |||||||||
Total earning assets | 1,685 | 3,796 | 5,481 | (16,052) | 9,233 | (6,819) | (31,050) | 23,964 | (7,086) | |||||||||
Interest-bearing liabilities | ||||||||||||||||||
Total interest-bearing deposits | $ (4,400) | $ 1,243 | $ (3,157) | $ (12,423) | $ 4,885 | $ (7,538) | $ (17,145) | $ 12,173 | $ (4,972) | |||||||||
Borrowed funds | ||||||||||||||||||
Short-term borrowings | (191) | (961) | (1,152) | (1,953) | (3,049) | (5,002) | (3,702) | (4,698) | (8,400) | |||||||||
Long-term debt | 735 | 82 | 817 | 632 | 131 | 763 | 593 | 179 | 772 | |||||||||
Total borrowed funds | 544 | (879) | (335) | (1,321) | (2,918) | (4,239) | (3,109) | (4,519) | (7,628) | |||||||||
Total interest-bearing liabilities | (3,856) | 364 | (3,492) | (13,744) | 1,967 | (11,777) | (20,254) | 7,654 | (12,600) | |||||||||
Net interest income (1) | $ 5,541 | $ 3,432 | $ 8,973 | $ (2,308) | $ 7,266 | $ 4,958 | $ (10,796) | $ 16,310 | $ 5,514 | |||||||||
(1) Not tax equivalent. | ||||||||||||||||||
(2) Loans held for sale and nonaccrual loans are included in gross loans. |
FIRST FINANCIAL BANCORP. | |||||||||||||
CREDIT QUALITY | |||||||||||||
(Dollars in thousands) | |||||||||||||
(Unaudited) | |||||||||||||
Six months ended, | |||||||||||||
June 30, | Mar. 31, | Dec. 31, | Sep. 30, | June 30, | June 30, | June 30, | |||||||
2025 | 2025 | 2024 | 2024 | 2024 | 2025 | 2024 | |||||||
ALLOWANCE FOR CREDIT LOSS ACTIVITY | |||||||||||||
Balance at beginning of period | $ 155,482 | $ 156,791 | $ 158,831 | $ 156,185 | $ 144,274 | ||||||||
Provision for credit losses | 9,084 | 9,141 | 9,705 | 9,930 | 16,157 | 18,225 | 29,576 | ||||||
Gross charge-offs | |||||||||||||
Commercial and industrial | 4,996 | 8,178 | 4,333 | 5,471 | 2,149 | 13,174 | 4,844 | ||||||
Lease financing | 606 | 1,454 | 2,831 | 368 | 190 | 2,060 | 193 | ||||||
Construction real estate | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Commercial real estate | 0 | 0 | 5,051 | 261 | 2 | 0 | 5,321 | ||||||
Residential real estate | 16 | 0 | 12 | 60 | 6 | 16 | 71 | ||||||
Home equity | 100 | 86 | 210 | 90 | 122 | 186 | 147 | ||||||
Installment | 1,120 | 1,321 | 1,680 | 1,510 | 2,034 | 2,441 | 4,270 | ||||||
Credit card | 489 | 474 | 492 | 768 | 532 | 963 | 1,326 | ||||||
Total gross charge-offs | 7,327 | 11,513 | 14,609 | 8,528 | 5,035 | 18,840 | 16,172 | ||||||
Recoveries | |||||||||||||
Commercial and industrial | 290 | 195 | 1,779 | 434 | 236 | 485 | 398 | ||||||
Lease financing | 11 | 29 | 17 | 11 | 1 | 40 | 60 | ||||||
Construction real estate | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Commercial real estate | 70 | 24 | 19 | 25 | 137 | 94 | 175 | ||||||
Residential real estate | 42 | 24 | 23 | 22 | 37 | 66 | 61 | ||||||
Home equity | 74 | 144 | 222 | 240 | 118 | 218 | 198 | ||||||
Installment | 716 | 563 | 499 | 421 | 219 | 1,279 | 364 | ||||||
Credit card | 80 | 84 | 305 | 91 | 41 | 164 | 92 | ||||||
Total recoveries | 1,283 | 1,063 | 2,864 | 1,244 | 789 | 2,346 | 1,348 | ||||||
Total net charge-offs | 6,044 | 10,450 | 11,745 | 7,284 | 4,246 | 16,494 | 14,824 | ||||||
Ending allowance for credit losses | $ 158,522 | $ 155,482 | $ 156,791 | $ 158,831 | $ 156,185 | ||||||||
NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED) | |||||||||||||
Commercial and industrial | 0.49 % | 0.85 % | 0.27 % | 0.54 % | 0.21 % | 0.67 % | 0.25 % | ||||||
Lease financing | 0.41 % | 0.99 % | 1.91 % | 0.26 % | 0.15 % | 0.70 % | 0.05 % | ||||||
Construction real estate | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | ||||||
Commercial real estate | (0.01) % | 0.00 % | 0.49 % | 0.02 % | (0.01) % | 0.00 % | 0.25 % | ||||||
Residential real estate | (0.01) % | (0.01) % | 0.00 % | 0.01 % | (0.01) % | (0.01) % | 0.00 % | ||||||
Home equity | 0.01 % | (0.03) % | (0.01) % | (0.07) % | 0.00 % | (0.01) % | (0.01) % | ||||||
Installment | 1.38 % | 2.42 % | 3.43 % | 3.03 % | 4.81 % | 1.91 % | 5.08 % | ||||||
Credit card | 2.41 % | 2.40 % | 1.13 % | 4.13 % | 2.94 % | 2.41 % | 3.75 % | ||||||
Total net charge-offs | 0.21 % | 0.36 % | 0.40 % | 0.25 % | 0.15 % | 0.28 % | 0.27 % | ||||||
COMPONENTS OF NONACCRUAL LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS | |||||||||||||
Nonaccrual loans | |||||||||||||
Commercial and industrial | $ 24,489 | $ 7,649 | $ 6,641 | $ 10,703 | $ 17,665 | $ 24,489 | $ 17,665 | ||||||
Lease financing | 6,243 | 6,487 | 6,227 | 11,632 | 5,374 | 6,243 | 5,374 | ||||||
Construction real estate | 1,365 | 0 | 0 | 0 | 0 | 1,365 | 0 | ||||||
Commercial real estate | 23,905 | 25,736 | 32,303 | 23,608 | 22,942 | 23,905 | 22,942 | ||||||
Residential real estate | 16,995 | 16,044 | 16,700 | 14,596 | 12,715 | 16,995 | 12,715 | ||||||
Home equity | 3,226 | 2,920 | 3,418 | 4,074 | 3,295 | 3,226 | 3,295 | ||||||
Installment | 701 | 719 | 684 | 826 | 682 | 701 | 682 | ||||||
Total nonaccrual loans | 76,924 | 59,555 | 65,973 | 65,439 | 62,673 | 76,924 | 62,673 | ||||||
Other real estate owned (OREO) | 204 | 213 | 64 | 30 | 30 | 204 | 30 | ||||||
Total nonperforming assets | 77,128 | 59,768 | 66,037 | 65,469 | 62,703 | 77,128 | 62,703 | ||||||
Accruing loans past due 90 days or more | 714 | 228 | 361 | 463 | 1,573 | 714 | 1,573 | ||||||
Total underperforming assets | $ 77,842 | $ 59,996 | $ 66,398 | $ 65,932 | $ 64,276 | $ 77,842 | $ 64,276 | ||||||
Total classified assets | $ 214,346 | $ 213,351 | $ 224,084 | $ 206,194 | $ 195,277 | ||||||||
CREDIT QUALITY RATIOS | |||||||||||||
Allowance for credit losses to | |||||||||||||
Nonaccrual loans | 206.08 % | 261.07 % | 237.66 % | 242.72 % | 249.21 % | 206.08 % | 249.21 % | ||||||
Total ending loans | 1.34 % | 1.33 % | 1.33 % | 1.37 % | 1.36 % | 1.34 % | 1.36 % | ||||||
Nonaccrual loans to total loans | 0.65 % | 0.51 % | 0.56 % | 0.57 % | 0.54 % | 0.65 % | 0.54 % | ||||||
Nonperforming assets to | |||||||||||||
Ending loans, plus OREO | 0.65 % | 0.51 % | 0.56 % | 0.57 % | 0.54 % | 0.65 % | 0.54 % | ||||||
Total assets | 0.41 % | 0.32 % | 0.36 % | 0.36 % | 0.35 % | 0.41 % | 0.35 % | ||||||
Classified assets to total assets | 1.15 % | 1.16 % | 1.21 % | 1.14 % | 1.07 % | 1.15 % | 1.07 % | ||||||
FIRST FINANCIAL BANCORP. | |||||||||||||
CAPITAL ADEQUACY | |||||||||||||
(Dollars in thousands, except per share data) | |||||||||||||
(Unaudited) | |||||||||||||
Three Months Ended, | Six months ended, | ||||||||||||
June 30, | Mar. 31, | Dec. 31, | Sep. 30, | June 30, | June 30, | June 30, | |||||||
2025 | 2025 | 2024 | 2024 | 2024 | 2025 | 2024 | |||||||
PER COMMON SHARE | |||||||||||||
Market Price | |||||||||||||
High | $ 25.19 | $ 29.04 | $ 30.34 | $ 28.09 | $ 23.78 | $ 29.04 | $ 23.78 | ||||||
Low | $ 22.05 | $ 24.25 | $ 23.98 | $ 21.70 | $ 20.79 | $ 22.05 | $ 20.79 | ||||||
Close | $ 24.26 | $ 24.98 | $ 26.88 | $ 25.23 | $ 22.22 | $ 24.26 | $ 22.22 | ||||||
Average shares outstanding - basic | 94,860,428 | 94,645,787 | 94,486,838 | 94,473,666 | 94,438,235 | 94,753,700 | 94,328,151 | ||||||
Average shares outstanding - diluted | 95,741,696 | 95,524,262 | 95,487,564 | 95,479,510 | 95,470,093 | 95,633,579 | 95,327,045 | ||||||
Ending shares outstanding | 95,760,617 | 95,730,353 | 95,494,840 | 95,486,317 | 95,486,010 | 95,760,617 | 95,486,010 | ||||||
Total shareholders' equity | $ 2,558,155 | $ 2,501,235 | $ 2,438,041 | $ 2,450,438 | $ 2,326,439 | $ 2,558,155 | $ 2,326,439 | ||||||
REGULATORY CAPITAL | Preliminary | Preliminary | |||||||||||
Common equity tier 1 capital | $ 1,776,038 | $ 1,724,134 | $ 1,709,422 | $ 1,661,759 | $ 1,626,345 | $ 1,776,038 | $ 1,626,345 | ||||||
Common equity tier 1 capital ratio | 12.57 % | 12.29 % | 12.16 % | 12.04 % | 11.78 % | 12.57 % | 11.78 % | ||||||
Tier 1 capital | $ 1,821,316 | $ 1,769,357 | $ 1,754,584 | $ 1,706,796 | $ 1,671,258 | $ 1,821,316 | $ 1,671,258 | ||||||
Tier 1 ratio | 12.89 % | 12.61 % | 12.48 % | 12.37 % | 12.11 % | 12.89 % | 12.11 % | ||||||
Total capital | $ 2,116,180 | $ 2,090,211 | $ 2,057,877 | $ 2,012,349 | $ 1,997,378 | $ 2,116,180 | $ 1,997,378 | ||||||
Total capital ratio | 14.98 % | 14.90 % | 14.64 % | 14.58 % | 14.47 % | 14.98 % | 14.47 % | ||||||
Total capital in excess of minimum requirement | $ 632,563 | $ 617,347 | $ 581,659 | $ 563,273 | $ 548,037 | $ 632,563 | $ 548,037 | ||||||
Total risk-weighted assets | $ 14,129,683 | $ 14,027,274 | $ 14,059,215 | $ 13,800,728 | $ 13,803,249 | $ 14,129,683 | $ 13,803,249 | ||||||
Leverage ratio | 10.28 % | 10.01 % | 9.98 % | 9.93 % | 9.73 % | 10.28 % | 9.73 % | ||||||
OTHER CAPITAL RATIOS | |||||||||||||
Ending shareholders' equity to ending assets | 13.73 % | 13.55 % | 13.13 % | 13.50 % | 12.81 % | 13.73 % | 12.81 % | ||||||
Ending tangible shareholders' equity to ending tangible assets (1) | 8.40 % | 8.16 % | 7.73 % | 7.98 % | 7.23 % | 8.40 % | 7.23 % | ||||||
Average shareholders' equity to average assets | 13.66 % | 13.38 % | 13.36 % | 13.28 % | 12.87 % | 13.52 % | 12.98 % | ||||||
Average tangible shareholders' equity to average tangible assets (1) | 8.26 % | 7.94 % | 7.87 % | 7.64 % | 7.15 % | 8.10 % | 7.20 % | ||||||
REPURCHASE PROGRAM (2) | |||||||||||||
Shares repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Average share repurchase price | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||
Total cost of shares repurchased | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||||||
(1) Non-GAAP measure. For details on the calculation of these non-GAAP financial measures and a reconciliation to the GAAP financial measure, see the sections titled "Use of Non-GAAP Financial Measures" in this release and "Appendix: Non-GAAP to GAAP Reconciliation" in the accompanying slide presentation. | |||||||||||||
(2) Represents share repurchases as part of publicly announced plans. | |||||||||||||
N/A = Not applicable |
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SOURCE First Financial Bancorp.