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First Financial Bancorp (FFBC) reports developments for a regional bank holding company engaged in commercial banking and related financial services through First Financial Bank. Company news centers on quarterly and annual results, net interest margin, loan and deposit trends, noninterest income, capital levels, and the performance of lending, deposit, cash management, trust, and wealth management activities.
Recurring updates also include board actions such as common-stock dividends and share repurchase authorizations, subordinated debt activity, investor presentations, and completed bank acquisitions that affect the company’s balance sheet and operating scale. Earnings releases commonly discuss commercial lending, real estate lending, consumer financing, funding costs, asset yields, and integration effects from acquired portfolios.
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On April 25, 2023, First Financial Bancorp (NASDAQ: FFBC) announced a quarterly cash dividend of $0.23 per common share, payable on June 15, 2023, to shareholders of record as of June 1, 2023. As of March 31, 2023, the company reported $16.9 billion in assets, $10.4 billion in loans, $12.7 billion in deposits, and $2.1 billion in shareholders' equity. The bank operates 130 full-service centers across Ohio, Indiana, Kentucky, and Illinois, providing a range of financial services through its six business lines, including Wealth Management, which manages approximately $3.3 billion in assets.
First Financial Bancorp (FFBC) reported a strong financial performance for Q1 2023, with a net income of $70.4 million, or $0.74 per diluted share. This represents a 1.9% increase in net income compared to Q4 2022 and a year-over-year increase of 70%. The company achieved record quarterly revenue of $214.9 million, driven by a 5.3% annualized loan growth of $134.4 million and a net interest margin of 4.55%. Additionally, record adjusted fee income and stable credit quality were noted, with minimal charge-offs. Notably, capital ratios strengthened, with a total capital ratio of 13.66% and tangible common equity rising to 6.47%. The company remains well-positioned for future uncertainties with strong profitability and capital stability.
First Financial Bancorp (Nasdaq: FFBC) announced it will release its first quarter 2023 financial results after the market closes on April 20, 2023. A teleconference and webcast to discuss these results will occur on April 21, 2023, at 8:30 a.m. Eastern time. The company, based in Cincinnati, Ohio, reported $17.0 billion in assets and $2.0 billion in shareholders' equity as of December 31, 2022. Its subsidiary, First Financial Bank, manages $3.2 billion in assets under management and operates 132 full-service banking centers across Ohio, Indiana, Kentucky, and Illinois.
First Financial Bancorp (FFBC) has nominated Dawn Morris and Andre Porter for election to its Board of Directors, with voting set for May 23, 2023. Morris brings extensive banking experience and innovation expertise, while Porter offers diverse leadership skills from both public and private sectors. Current board member Corinne Finnerty will retire at the end of her term, concluding over two decades of service. As of December 31, 2022, First Financial Bancorp held assets of $17.0 billion, loans of $10.3 billion, and deposits of $12.7 billion.
CNO Financial Group (NYSE: CNO) announced the nomination of Archie Brown and Adrianne Lee as directors for election at the annual meeting on May 10, 2023. Brown, CEO of First Financial Bancorp, brings extensive finance and risk management experience, while Lee, CFO of Overstock.com, adds expertise in financial planning and e-commerce. The nominations come as Ellyn Brown and Fred Sievert retire from the board. Board Chair Dan Maurer expressed confidence in the new nominees' ability to enhance the board's perspective on growth priorities. CNO Financial serves middle-income America with life and health insurance services.
CNO Financial Group, Inc. (NYSE: CNO) has announced the nomination of Archie Brown and Adrianne Lee to its Board of Directors for election during the May 10, 2023 annual meeting. Archie Brown, CEO of First Financial Bancorp, brings extensive experience in finance and risk management, while Adrianne Lee, CFO of Overstock.com, offers significant financial planning and e-commerce expertise. Their appointments fill the vacancies left by retiring directors Ellyn Brown and Fred Sievert, who have served since 2012 and 2011, respectively. The nominations aim to enhance board perspectives as CNO pursues its growth strategy.
First Financial Bancorp (FFBC) reported strong financial results for Q4 2022, achieving net income of $69.1 million or $0.73 per diluted share, up from $55.7 million or $0.59 per share in Q3 2022. The company's return on average assets improved to 1.63%, with a net interest margin of 4.47%, reflecting a 49 basis point increase from the previous quarter. Total loan growth was an impressive $501.5 million, representing a 20.3% annualized increase. First Financial also recorded a 14% rise in annual revenue, totaling $709 million. The board approved a quarterly dividend of $0.23 per share, payable on March 15, 2023.
First Financial Bancorp (Nasdaq: FFBC) will announce its fourth quarter and full year 2022 financial results on January 26, 2023, after market close. A teleconference and webcast to discuss these results is scheduled for January 27, 2023, at 8:30 a.m. Eastern time. The company, headquartered in Cincinnati, Ohio, reported $16.6 billion in assets, $9.8 billion in loans, and $12.3 billion in deposits as of September 30, 2022. Additional details can be found at www.bankatfirst.com.