First Financial Bancorp Q3 earnings rise 12.9% to $81.2M
The quarterly dividend is set at $0.26 per common share, and the Finward deal remains subject to state and shareholder approvals.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
First Financial Bancorp. reported third-quarter 2026 net income of $81.2 million, up 12.9% from a year earlier, and diluted EPS of $0.77. Net interest income rose 22.3% year over year to $196.3 million; net interest margin was 4.05% (4.07% on a fully tax-equivalent basis). Loan balances increased $170.2 million, or 4.9% on an annualized basis, from the linked quarter. Nine-month diluted EPS was $2.21, versus $2.02 a year earlier.
Classified assets were 1.26% of total assets, up from 1.01% in the prior quarter; the company attributed the rise primarily to a downgrade of one ICRE relationship involving multiple loans and expects to resolve its workout over the next few quarters. The board approved a $0.26 quarterly dividend, payable December 15, 2026, to shareholders of record December 1. First Financial received federal regulatory approval for its Finward Bancorp acquisition and expects to close January 1, 2027, subject to state regulatory and Finward shareholder approvals. Management expects low to mid single digit loan growth as 2026 closes and expenses to moderate in the fourth quarter.
2 points · 0 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointThird-quarter net income rose 12.9% year over year to $81.2 million.
- Moderate pointThird-quarter net interest income increased 22.3% year over year to $196.3 million.
Negative
- None.
Filing Explained
First Financial’s tangible book value per share fell from
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Net income: $81.2 million
Diluted EPS: $0.77 per share
Net interest income: $196.3 million
+4 more
7 metrics
Net income
$81.2 million
Third quarter 2026; up 12.9% from third quarter 2025
Diluted EPS
$0.77 per share
Third quarter 2026
Net interest income
$196.3 million
Third quarter 2026; up 22.3% year over year
Noninterest income
$77.7 million
Third quarter 2026; up 5.6% year over year
Net interest margin
4.05%
Third quarter 2026; 4.07% on a fully tax-equivalent basis
Loan balance increase
$170.2 million; 4.9% annualized
Compared with the linked quarter
Quarterly dividend
$0.26 per common share
Payable December 15, 2026, to shareholders of record December 1, 2026
Key Terms
net interest margin, fully tax-equivalent basis, classified assets, Allowance for Credit Losses
4 terms
net interest margin financial
"Net interest margin was 4.05%"
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
fully tax-equivalent basis financial
"4.07% on a fully tax-equivalent basis"
A fully tax-equivalent basis converts income or yield that is exempt from federal (and sometimes state or local) taxes into the pre-tax yield that a taxable investment would need to match it. It adjusts the reported after-tax return using an investor’s marginal tax rate so different securities can be compared on the same pretax scale—like converting prices into the same currency so you can compare costs directly.
classified assets financial
"Classified assets were 1.26% of total assets"
Allowance for Credit Losses financial
"Total Allowance for Credit Losses of $209.8 million"
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
Earnings Snapshot
Net income: $81.2 million · Guidance included
Third quarter 2026
Net income
$81.2 million
Up 12.9% year over year
Diluted EPS
$0.77 per share
Up from $0.75 in third quarter 2025
Net interest income
$196.3 million
Up 22.3% year over year
Noninterest income
$77.7 million
Up 5.6% year over year
Guidance
Management expects low to mid single digit loan growth as 2026 closes and expenses to moderate in the fourth quarter. The Finward Bancorp acquisition is expected to close January 1, 2027, subject to state regulatory and Finward shareholder approvals.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did FFBC earn in the third quarter of 2026?
First Financial Bancorp. reported $81.2 million in net income and diluted earnings per share of $0.77. Net income was up 12.9% from $71.9 million in the third quarter of 2025.
What is FFBC's quarterly dividend?
The board approved a $0.26 dividend per common share, payable December 15, 2026, to shareholders of record December 1, 2026.
When is the Finward Bancorp acquisition expected to close?
First Financial expects the acquisition to close on January 1, 2027, subject to state regulatory and Finward shareholder approvals. First Financial has received federal regulatory approval.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 27, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. employer identification number) | |||||||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||||||||
Registrant's telephone number, including area code: (877 ) 322-9530
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol | Name of exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On October 27, 2026, First Financial Bancorp. (the "Company") issued its earnings press release that included its results of operations and financial condition for the first nine months and third quarter of 2026. A copy of the earnings press release is attached as Exhibit 99.1.
The Company also provided electronic presentation slides that will be used in connection with the earnings conference call. A copy of the electronic presentation slides is included in this Report as Exhibit 99.2 and will be available on the Company's website, www.bankatfirst.com.
The information set forth in this Current Report on Form 8-K (including the information in Exhibits 99.1 and 99.2 attached hereto) is being furnished to the Securities and Exchange Commission and is not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") , or otherwise subject to the liabilities under the Exchange Act. Such information shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
The following exhibits shall not be deemed to be "filed" for purposes of the Exchange Act:
Exhibit No. Description
99.1 First Financial Bancorp. Press Release dated October 27, 2026
99.2 First Financial Bancorp. presentation materials
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
Forward-Looking Statements
Certain statements in this communication constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are not limited to, statements regarding the operations of First Financial Bancorp. and its subsidiaries (the "Company", "First Financial", "we", "us", or "our") such as (i) our future operating or financial performance, including revenues, income or loss and earnings per share, (ii) future common stock dividends, (iii) our capital structure, including future capital levels, (iv) our plans, objectives and strategies, and (v) the uncertainties and assumptions that underlie our forward-looking statements. Such statements are often characterized by the use of qualified words (and their derivatives) such as “may,” “will,” “anticipate,” “could,” “should,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “project” and “intend,” as well as words of similar meaning or other statements concerning opinions or judgment of First Financial or their respective management about future events. Forward-looking statements are based on assumptions as of the time they are made and are subject to risks, uncertainties and other factors that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results expressed or implied by such forward-looking statements. Such risks, uncertainties and assumptions include, among others, the following:
•economic, market, liquidity, credit, interest rate, operational and technological risks associated with First Financial’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;
•pursuit of mergers and acquisitions, including costs or difficulties related to any acquisitions and/or integrations of any acquired companies;
•the possibility that any of the anticipated benefits of First Financial’s prior, in process, or contemplated acquisitions will not be realized or will not be realized within the expected time period;
•the possibility that any of acquisitions that have not yet been consummated, such as the acquisition of Finward Bancorp, is not consummated for any reason, including the failure to satisfy any closing conditions, termination of a merger agreement by either party, or the failure to receive any required regulatory or shareholder approvals;
•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;
•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.
These factors are not necessarily all of the factors that could cause First Financial's actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm the results of First Financial. Although First Financial believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results of First Financial will not differ materially from any projected future results expressed or implied by such forward-looking statements. Additional factors that could cause results to differ materially from those described above can be found in First Financial’s most recent annual report on Form 10-K for the fiscal year ended December 31, 2025, quarterly reports on Form 10-Q, and other documents subsequently filed by First Financial with the Securities Exchange Commission (“SEC”). Investors are cautioned not to rely too heavily on any such forward-looking statements. First Financial urges you to consider all of these risks, uncertainties and other factors carefully in evaluating all such forward-looking statements made by First Financial. Forward-looking statements speak only as of the date they are made, and First Financial undertakes no obligation to update or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval with respect to the proposed transaction between First Financial and Finward. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Important Additional Information and Where to Find It
In connection with the proposed transaction, First Financial filed a Registration Statement on Form S-4 (the “Registration Statement”) with the SEC to register the shares of First Financial capital stock to be issued in connection with the proposed transaction, which became effective with the SEC on September 28, 2026. The Registration Statement includes a proxy statement of Finward and a prospectus of First Financial (the “Proxy Statement/Prospectus”), and First Financial and Finward may file with the SEC other relevant documents concerning the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT FIRST FINANCIAL, FINWARD AND THE PROPOSED TRANSACTION AND RELATED MATTERS.
A copy of the Registration Statement, Proxy Statement/Prospectus, as well as other filings containing information about First Financial and Finward, may be obtained, free of charge, at the SEC’s website (www.sec.gov). Copies of documents filed with the SEC by First Financial will be made available free of charge in the "Investor Relations" section of First Financial's website, https://www.bankatfirst.com/about/investor-relations.html. Copies of documents filed with the SEC by Finward will be made available free of charge in the "Investor Relations" section of Finward's website, https://www.investorrelations.ibankpeoples.com. The information on First Financial’s and Finward’s websites is not, and shall not be deemed to be, a part of this communication or incorporated into other filings First Financial makes with the SEC.
Participants in the Solicitation
First Financial, Finward and certain of their respective directors, executive officers, management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction between First Financial and Finward. Information concerning First Financial’s participants is set forth in the Proxy Statement, dated April 16, 2026, for First Financial’s 2026 annual meeting of stockholders as filed with the SEC on Schedule 14A. Information concerning Finward’s participants is set forth in the Proxy Statement, dated April 3, 2026, for Finward’s 2026 annual meeting of stockholders as filed with the SEC on Schedule 14A. Additional information regarding the participants in the solicitation of proxies in respect of the proposed transaction and interests of participants of First Financial and Finward in the solicitation of proxies in respect of the proposed transaction is included in the Registration Statement and Proxy Statement/Prospectus to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FIRST FINANCIAL BANCORP.
| By: /s/ James M. Anderson | ||||||||
| James M. Anderson | ||||||||
| President and Chief Financial Officer | ||||||||
| Date: | October 27, 2026 | |||||||
Exhibit 99.1
First Financial Bancorp Announces Record Third Quarter
Financial Results and Quarterly Dividend
•Earnings per diluted share of $0.77; $0.84 on an adjusted(1) basis; 11% increase from the third quarter of 2025 and highest in Company history
•Return on average assets of 1.44%; 1.56% on an adjusted(1) basis
•Net interest margin on FTE basis(1) of 4.07%; 9 bp increase from linked quarter
•Loan growth of $170 million, or 4.9% on an annualized basis
•Record adjusted(1) noninterest income; $5.7 million, or 8%, increase from the linked quarter
•ROTCE of 18.7%; 20.2% on adjusted(1) basis
•Received Federal regulatory approval for Finward acquisition; expected to close 1/1/27
Cincinnati, Ohio - October 27, 2026. First Financial Bancorp. (Nasdaq: FFBC) (“First Financial” or the “Company”) announced financial results for the three and nine months ended September 30, 2026.
For the three months ended September 30, 2026, the Company reported net income of $81.2 million, or $0.77 per diluted common share. These results compare to net income of $76.5 million, or $0.73 per diluted common share, for the second quarter of 2026. For the nine months ended September 30, 2026, First Financial had earnings per diluted share of $2.21 compared to $2.02 for the same period in 2025.
Return on average assets for the third quarter of 2026 was 1.44% while return on average tangible common equity was 18.67%(1). These compare to return on average assets of 1.37% and return on average tangible common equity of 17.95%(1) in the second quarter of 2026.
Third quarter 2026 highlights include:
•Robust net interest margin of 4.05%, or 4.07% on a fully tax-equivalent basis(1)
◦9 bp increase from second quarter driven by 13 bp increase in asset yields, partially offset by a 4 bp increase in funding costs
•Noninterest income of $77.7 million; $77.6 million on an adjusted(1) basis
◦Double digit percentage growth from linked quarter in wealth management income, bankcard income, and client derivative fees
◦Foreign exchange income increased $4.4 million, or 33.5%, from linked quarter
◦Strong leasing business income of $23.0 million
•Noninterest expenses of $165.7 million; $156.9 million on an adjusted(1) basis
◦Adjustments(1) include $7.5 million of acquisition related expenses, $0.8 million of amortization of tax credit investments and $0.6 million of other expenses not expected to recur
◦Increase from prior quarter driven by compensation costs tied to fee income, as well as increases in credit collection and healthcare costs
◦Efficiency ratio of 60.5%; 57.3% as adjusted(1)
•Solid loan growth during the quarter
◦Loan balances increased $170.2 million, or 4.9% on an annualized basis, compared to linked quarter
◦Quarterly growth driven by C&I, Consumer and Summit
•Moderate deposit growth during the quarter
◦Average deposit balances increased $52.4 million, or 1.2% on an annualized basis
◦Growth in interest-bearing demand accounts, money market accounts and retail CDs offset a decline in brokered CDs, savings, and noninterest-bearing accounts
◦Excluding brokered CDs, average deposits increased $144.0 million
___________________________________________________________________________________________
(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 $209.8 million; Total quarterly provision expense of $8.9 million
◦Loans and leases - ACL of $191.7 million
◦ACL to total loans of 1.38%
◦Unfunded Commitments - ACL of $18.2 million
◦Annualized net charge-offs were $7.2 million in third quarter, or 21 bps of total loans
◦Nonperforming assets increased 2 bps to 0.45% of total assets
◦Classified assets increased to 1.26% of total assets primarily due to the downgrade of a single ICRE relationship
•Capital ratios remain strong despite significant decline in AOCI
◦Total capital ratio increased 8 bps to 15.83%
◦Tier 1 common equity increased 21 bps to 12.54%
◦Tangible common equity of 7.81%(1); 9.65%(1) excluding impact from AOCI
◦Tangible book value per share of $15.65(1); 5.9% decrease from linked quarter
Additionally, the Board of Directors approved a quarterly dividend of $0.26 per common share for the next regularly scheduled dividend, payable on December 15, 2026 to shareholders of record as of December 1, 2026.
Archie Brown, President and CEO, commented on third quarter results, “I am very pleased with our performance in the third quarter. Adjusted(1) net income was $87.8 million and adjusted(1) earnings per share were $0.84, which resulted in an adjusted(1) return on assets of 1.56% and an adjusted(1) return on tangible common equity of 20.2%. Earnings per share increased 11% from the third quarter of 2025 and were the highest in the Company’s history. We delivered record third quarter revenue of $273.9 million, driven by a strong net interest margin of 4.07% and record adjusted(1) fee revenue of $77.6 million.”
Mr. Brown continued, “Loan balances increased moderately during the quarter, consistent with our prior quarter outlook, with particularly strong growth in our C&I portfolio. Loan pipelines remain healthy as we enter the fourth quarter, and we expect low to mid single digit loan growth as we close out 2026.”
Mr. Brown continued, discussing fees and expenses, “We are very encouraged by the strength and diversification of our fee income, as adjusted(1) noninterest income was a record $77.6 million and 28% of total revenues. Growth from the linked quarter was driven by strong performances from foreign exchange, wealth management, client derivatives and bankcard income.
“As a result of our strong fee income and overall operating performance, expenses were elevated during the quarter, driven primarily by incentive costs associated with our record revenues, as well as higher health care claims and increased credit and collection costs. We expect expenses to moderate in the fourth quarter."
Mr. Brown commented on asset quality and capital, “Credit quality trends were stable during the third quarter. Net charge-offs and nonperforming assets were comparable to second quarter levels, while classified assets increased significantly. The increase in classified assets was primarily driven by the downgrade of a single ICRE relationship with multiple loans, and we expect to resolve the workout of this relationship over the next few quarters.
"All regulatory capital ratios increased from the second quarter; however, tangible book value per share and tangible common equity declined in response to the sharp increase in interest rates during the second half of the quarter. Tangible book value per share decreased 6% from the linked quarter to $15.65, while tangible common equity declined 43 basis points from June 30, to 7.81% at the end of September.”
Mr. Brown concluded, “We delivered another strong quarter and have had an excellent year to date. We are pleased to have received Federal regulatory approval for our acquisition of Finward and expect to close the transaction on January 1, 2027, subject to the receipt of state regulatory and Finward shareholder approvals. Looking ahead, we remain focused on closing the year on a strong note, completing the Finward transaction, and carrying our momentum into 2027.
"Finally, I want to acknowledge the recently announced changes to our senior leadership structure. These changes were designed to promote continuity, reinforce our commitment to strong financial performance, and maintain our engagement-centric culture. I have tremendous confidence in Jamie and the rest of our leadership team, and the positive impact we are already seeing from these organizational changes underscores the strength of our people, our culture, and our continued commitment to serving our clients and communities.”
Full detail of the Company’s third quarter 2026 performance is provided in the accompanying financial statements and slide presentation.
___________________________________________________________________________________________
(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.
Teleconference / Webcast Information
First Financial’s executive management will host a conference call to discuss the Company’s financial and operating results on Wednesday, October 28, 2026 at 8:30 a.m. Eastern Time. Members of the public who would like to listen to the conference call should dial (833) 461-5787 (U.S. toll free), meeting ID 257491860. The number should be dialed five to ten minutes prior to the start of the conference call. The conference call will also be accessible as an audio webcast via the Investor Relations section of the Company’s website at www.bankatfirst.com. The webcast will be archived on the Investor Relations section of the Company’s website for 12 months.
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.
No Offer or Solicitation
This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval with respect to the proposed transaction between First Financial and Finward. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Important Additional Information and Where to Find It
In connection with the proposed transaction, First Financial filed a Registration Statement on Form S-4 (the “Registration Statement”) with the SEC to register the shares of First Financial capital stock to be issued in connection with the proposed transaction, which became effective with the SEC on September 28, 2026. The Registration Statement includes a proxy statement of Finward and a prospectus of First Financial (the “Proxy Statement/Prospectus”), and First Financial and Finward may file with the SEC other relevant documents concerning the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT FIRST FINANCIAL, FINWARD AND THE PROPOSED TRANSACTION AND RELATED MATTERS.
A copy of the Registration Statement, Proxy Statement/Prospectus, as well as other filings containing information about First Financial and Finward, may be obtained, free of charge, at the SEC’s website (www.sec.gov). Copies of documents filed with the SEC by First Financial will be made available free of charge in the "Investor Relations" section of First Financial's website, https://www.bankatfirst.com/about/investor-relations.html. Copies of documents filed with the SEC by Finward will be made available free of charge in the "Investor Relations" section of Finward's website, https://www.investorrelations.ibankpeoples.com. The information on First Financial’s and Finward’s websites is not, and shall not be deemed to be, a part of this communication or incorporated into other filings either First Financial makes with the SEC.
Participants in the Solicitation
First Financial, Finward and certain of their respective directors, executive officers, management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction between First
Financial and Finward. Information concerning First Financial’s participants is set forth in the Proxy Statement, dated April 16, 2026, for First Financial’s 2026 annual meeting of stockholders as filed with the SEC on Schedule 14A. Information concerning Finward’s participants is set forth in the Proxy Statement, dated April 3, 2026, for Finward’s 2026 annual meeting of stockholders as filed with the SEC on Schedule 14A. Additional information regarding the participants in the solicitation of proxies in respect of the proposed transaction and interests of participants of First Financial and Finward in the solicitation of proxies in respect of the proposed transaction is included in the Registration Statement and Proxy Statement/Prospectus to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are not limited to, statements regarding the operations of First Financial Bancorp. and its subsidiaries (the "Company", "First Financial", "we", "us", or "our") such as (i) our future operating or financial performance, including revenues, income or loss and earnings per share, (ii) future common stock dividends, (iii) our capital structure, including future capital levels, (iv) our plans, objectives and strategies, and (v) the uncertainties and assumptions that underlie our forward-looking statements. Such statements are often characterized by the use of qualified words (and their derivatives) such as “may,” “will,” “anticipate,” “could,” “should,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “project” and “intend,” as well as words of similar meaning or other statements concerning opinions or judgment of First Financial or their respective management about future events. Forward-looking statements are based on assumptions as of the time they are made and are subject to risks, uncertainties and other factors that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results expressed or implied by such forward-looking statements. Such risks, uncertainties and assumptions include, among others, the following:
•economic, market, liquidity, credit, interest rate, operational and technological risks associated with First Financial’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;
•pursuit of mergers and acquisitions, including costs or difficulties related to any acquisitions and/or integrations of any acquired companies;
•the possibility that any of the anticipated benefits of First Financial’s prior, in process, or contemplated acquisitions will not be realized or will not be realized within the expected time period;
•the possibility that any of acquisitions that have not yet been consummated, such as the acquisition of Finward Bancorp, is not consummated for any reason, including the failure to satisfy any closing conditions, termination of a merger agreement by either party, or the failure to receive any required regulatory or shareholder approvals;
•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;
•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.
These factors are not necessarily all of the factors that could cause First Financial's actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm the results of First Financial. Although First Financial believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results of First Financial will not differ materially from any projected future results expressed or implied by such forward-looking statements. Additional factors that could cause results to differ materially from those described above can be found in First Financial’s most recent annual report on Form 10-K for the fiscal year ended December 31, 2025, quarterly reports on Form 10-Q, and other documents subsequently filed by First Financial with the Securities Exchange Commission (“SEC”). Investors are cautioned not to rely too heavily on any such forward-looking statements. First Financial urges you to consider all of these risks, uncertainties and other factors carefully in evaluating all such forward-looking statements made by First Financial. Forward-looking statements speak only as of the date they are made, and First Financial undertakes no obligation to update or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
About First Financial Bancorp.
First Financial Bancorp. is a Cincinnati, Ohio based bank holding company. As of September 30, 2026, the Company had $22.3 billion in assets, $13.9 billion in loans, $17.7 billion in deposits and $2.9 billion in shareholders’ equity. The Company’s subsidiary, First Financial Bank, founded in 1863, provides banking and financial services products through its six lines of business: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance and Wealth Management. These business units provide traditional banking services to business and retail clients. Wealth Management provides wealth planning, portfolio management, trust and estate, brokerage and retirement plan services and had approximately $4.5 billion in assets under management as of September 30, 2026. The Company operated 151 full service banking centers as of September 30, 2026, located in Ohio, Indiana, Kentucky and Illinois, while the Commercial Finance business lends into targeted industry verticals on a nationwide basis. In 2025, First Financial Bank received its second consecutive Outstanding rating from the Federal Reserve for its performance under the Community Reinvestment Act and was recognized as a Gallup Exceptional Workplace Award winner, one of only 70 Gallup clients worldwide to receive this designation. Additional information about the Company, including its products, services and banking locations, is available at www.bankatfirst.com.
Contact Information
Investors/Analysts Media
Jamie Anderson Tim Condron
President & Chief Financial Officer Director of Corporate Communications
(513) 887-5400 (513) 979-5796
InvestorRelations@bankatfirst.com media@bankatfirst.com
Selected Financial Information
September 30, 2026
(unaudited)
| Contents | Page | ||||
| Consolidated Financial Highlights | 2 | ||||
| Consolidated Statements of Income | 3 | ||||
| Consolidated Quarterly Statements of Income | 4-5 | ||||
| Consolidated Statements of Condition | 6 | ||||
| Average Consolidated Statements of Condition | 7 | ||||
| Net Interest Margin Rate / Volume Analysis | 8-9 | ||||
| Credit Quality | 10 | ||||
| Capital Adequacy | 11 | ||||
| FIRST FINANCIAL BANCORP. | |||||||||||||||||||||||||||||||||||||||||
| CONSOLIDATED FINANCIAL HIGHLIGHTS | |||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands, except per share data) | |||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||||||||
| Three Months Ended, | Nine months ended, | ||||||||||||||||||||||||||||||||||||||||
| Sep. 30, | June 30, | Mar. 31, | Dec. 31, | Sep. 30, | September 30, | ||||||||||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | 2026 | 2025 | |||||||||||||||||||||||||||||||||||
| RESULTS OF OPERATIONS | |||||||||||||||||||||||||||||||||||||||||
| Net income | $ | 81,182 | $ | 76,456 | $ | 74,445 | $ | 62,393 | $ | 71,923 | $ | 232,083 | $ | 193,212 | |||||||||||||||||||||||||||
| Net earnings per share - basic | $ | 0.78 | $ | 0.74 | $ | 0.72 | $ | 0.65 | $ | 0.76 | $ | 2.23 | $ | 2.04 | |||||||||||||||||||||||||||
| Net earnings per share - diluted | $ | 0.77 | $ | 0.73 | $ | 0.71 | $ | 0.64 | $ | 0.75 | $ | 2.21 | $ | 2.02 | |||||||||||||||||||||||||||
| Dividends declared per share | $ | 0.26 | $ | 0.25 | $ | 0.25 | $ | 0.25 | $ | 0.25 | $ | 0.76 | $ | 0.73 | |||||||||||||||||||||||||||
| KEY FINANCIAL RATIOS | |||||||||||||||||||||||||||||||||||||||||
| Return on average assets | 1.44 | % | 1.37 | % | 1.34 | % | 1.22 | % | 1.54 | % | 1.39 | % | 1.40 | % | |||||||||||||||||||||||||||
| Return on average shareholders' equity | 10.87 | % | 10.39 | % | 10.24 | % | 9.18 | % | 11.08 | % | 10.50 | % | 10.26 | % | |||||||||||||||||||||||||||
Return on average tangible shareholders' equity (1) | 18.67 | % | 17.95 | % | 17.78 | % | 16.27 | % | 19.11 | % | 18.14 | % | 18.03 | % | |||||||||||||||||||||||||||
| Net interest margin | 4.05 | % | 3.96 | % | 3.97 | % | 3.96 | % | 3.99 | % | 3.99 | % | 3.95 | % | |||||||||||||||||||||||||||
Net interest margin (fully tax equivalent) (1)(2) | 4.07 | % | 3.98 | % | 3.99 | % | 3.98 | % | 4.02 | % | 4.01 | % | 3.98 | % | |||||||||||||||||||||||||||
| Ending shareholders' equity as a percent of ending assets | 12.91 | % | 13.31 | % | 12.91 | % | 13.11 | % | 14.18 | % | 12.91 | % | 14.18 | % | |||||||||||||||||||||||||||
| Ending tangible shareholders' equity as a percent of: | |||||||||||||||||||||||||||||||||||||||||
Ending tangible assets (1) | 7.81 | % | 8.24 | % | 7.87 | % | 7.79 | % | 8.87 | % | 7.81 | % | 8.87 | % | |||||||||||||||||||||||||||
Risk-weighted assets (1) | 9.86 | % | 10.62 | % | 10.51 | % | 9.76 | % | 10.94 | % | 9.86 | % | 10.94 | % | |||||||||||||||||||||||||||
| Average shareholders' equity as a percent of average assets | 13.28 | % | 13.18 | % | 13.12 | % | 13.31 | % | 13.87 | % | 13.19 | % | 13.64 | % | |||||||||||||||||||||||||||
Average tangible shareholders' equity as a percent of average tangible assets (1) | 8.18 | % | 8.08 | % | 8.01 | % | 7.97 | % | 8.54 | % | 8.09 | % | 8.25 | % | |||||||||||||||||||||||||||
| Book value per share | $ | 27.39 | $ | 28.46 | $ | 28.02 | $ | 28.11 | $ | 27.48 | $ | 27.39 | $ | 27.48 | |||||||||||||||||||||||||||
Tangible book value per share (1) | $ | 15.65 | $ | 16.64 | $ | 16.15 | $ | 15.74 | $ | 16.19 | $ | 15.65 | $ | 16.19 | |||||||||||||||||||||||||||
Common equity tier 1 ratio (3) | 12.54 | % | 12.33 | % | 12.22 | % | 11.32 | % | 12.91 | % | 12.54 | % | 12.91 | % | |||||||||||||||||||||||||||
Tier 1 ratio (3) | 12.81 | % | 12.61 | % | 12.50 | % | 11.60 | % | 13.23 | % | 12.81 | % | 13.23 | % | |||||||||||||||||||||||||||
Total capital ratio (3) | 15.83 | % | 15.75 | % | 15.70 | % | 15.46 | % | 15.32 | % | 15.83 | % | 15.32 | % | |||||||||||||||||||||||||||
Leverage ratio (3) | 9.96 | % | 9.66 | % | 9.39 | % | 9.53 | % | 10.50 | % | 9.96 | % | 10.50 | % | |||||||||||||||||||||||||||
| AVERAGE BALANCE SHEET ITEMS | |||||||||||||||||||||||||||||||||||||||||
Loans (4) | $ | 13,821,897 | $ | 13,619,039 | $ | 14,028,324 | $ | 12,812,267 | $ | 11,806,065 | $ | 13,822,331 | $ | 11,774,842 | |||||||||||||||||||||||||||
| Investment securities | 4,925,893 | 5,079,730 | 4,769,261 | 3,988,846 | 3,552,014 | 4,925,535 | 3,481,357 | ||||||||||||||||||||||||||||||||||
| Interest-bearing deposits with other banks | 499,575 | 605,647 | 596,094 | 647,347 | 610,074 | 566,752 | 589,546 | ||||||||||||||||||||||||||||||||||
| Total earning assets | $ | 19,247,365 | $ | 19,304,416 | $ | 19,393,679 | $ | 17,448,460 | $ | 15,968,153 | $ | 19,314,618 | $ | 15,845,745 | |||||||||||||||||||||||||||
| Total assets | $ | 22,321,112 | $ | 22,391,439 | $ | 22,459,721 | $ | 20,256,539 | $ | 18,566,188 | $ | 22,390,250 | $ | 18,452,133 | |||||||||||||||||||||||||||
| Noninterest-bearing deposits | $ | 3,797,339 | $ | 3,811,391 | $ | 3,745,002 | $ | 3,436,709 | $ | 3,124,277 | $ | 3,784,769 | $ | 3,119,587 | |||||||||||||||||||||||||||
| Interest-bearing deposits | 13,941,854 | 13,875,384 | 13,900,550 | 12,521,948 | 11,387,648 | 13,906,081 | 11,250,530 | ||||||||||||||||||||||||||||||||||
| Total deposits | $ | 17,739,193 | $ | 17,686,775 | $ | 17,645,552 | $ | 15,958,657 | $ | 14,511,925 | $ | 17,690,850 | $ | 14,370,117 | |||||||||||||||||||||||||||
| Borrowings | $ | 778,982 | $ | 891,636 | $ | 1,012,161 | $ | 848,650 | $ | 823,346 | $ | 893,406 | $ | 911,100 | |||||||||||||||||||||||||||
| Shareholders' equity | $ | 2,963,270 | $ | 2,951,237 | $ | 2,947,585 | $ | 2,695,581 | $ | 2,575,203 | $ | 2,954,088 | $ | 2,516,675 | |||||||||||||||||||||||||||
| CREDIT QUALITY RATIOS | |||||||||||||||||||||||||||||||||||||||||
| Allowance to ending loans | 1.38 | % | 1.38 | % | 1.36 | % | 1.39 | % | 1.38 | % | 1.38 | % | 1.38 | % | |||||||||||||||||||||||||||
| Allowance to nonaccrual loans | 191.25 | % | 197.51 | % | 182.73 | % | 183.18 | % | 213.18 | % | 191.25 | % | 213.18 | % | |||||||||||||||||||||||||||
| Nonaccrual loans to total loans | 0.72 | % | 0.70 | % | 0.75 | % | 0.76 | % | 0.65 | % | 0.72 | % | 0.65 | % | |||||||||||||||||||||||||||
| Nonperforming assets to ending loans, plus OREO | 0.72 | % | 0.70 | % | 0.75 | % | 0.76 | % | 0.65 | % | 0.72 | % | 0.65 | % | |||||||||||||||||||||||||||
| Nonperforming assets to total assets | 0.45 | % | 0.43 | % | 0.44 | % | 0.48 | % | 0.41 | % | 0.45 | % | 0.41 | % | |||||||||||||||||||||||||||
| Classified assets to total assets | 1.26 | % | 1.01 | % | 1.02 | % | 1.11 | % | 1.18 | % | 1.26 | % | 1.18 | % | |||||||||||||||||||||||||||
| Net charge-offs to average loans (annualized) | 0.21 | % | 0.20 | % | 0.35 | % | 0.27 | % | 0.18 | % | 0.25 | % | 0.25 | % | |||||||||||||||||||||||||||
(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 21% tax rate. Management believes that it is a standard practice in the banking industry to present net interest margin and 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.
(3) September 30, 2026 regulatory capital ratios are preliminary.
(4) Includes loans held for sale.
2
| FIRST FINANCIAL BANCORP. | |||||||||||||||||||||||||||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||||||||||||||||||||||
| (Dollars in thousands, except per share data) | |||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||
| Three months ended, | Nine months ended, | ||||||||||||||||||||||||||||||||||
| September 30, | September 30, | ||||||||||||||||||||||||||||||||||
| 2026 | 2025 | % Change | 2026 | 2025 | % Change | ||||||||||||||||||||||||||||||
| Interest income | |||||||||||||||||||||||||||||||||||
| Loans and leases, including fees | $ | 228,730 | $ | 204,865 | 11.6 | % | $ | 672,845 | $ | 603,488 | 11.5 | % | |||||||||||||||||||||||
| Investment securities | |||||||||||||||||||||||||||||||||||
| Taxable | 53,631 | 36,421 | 47.3 | % | 157,026 | 107,065 | 46.7 | % | |||||||||||||||||||||||||||
| Tax-exempt | 2,425 | 2,195 | 10.5 | % | 7,423 | 6,632 | 11.9 | % | |||||||||||||||||||||||||||
| Total investment securities interest | 56,056 | 38,616 | 45.2 | % | 164,449 | 113,697 | 44.6 | % | |||||||||||||||||||||||||||
| Other earning assets | 4,514 | 6,773 | (33.4) | % | 15,345 | 19,388 | (20.9) | % | |||||||||||||||||||||||||||
| Total interest income | 289,300 | 250,254 | 15.6 | % | 852,639 | 736,573 | 15.8 | % | |||||||||||||||||||||||||||
| Interest expense | |||||||||||||||||||||||||||||||||||
| Deposits | 82,263 | 77,766 | 5.8 | % | 241,248 | 231,891 | 4.0 | % | |||||||||||||||||||||||||||
| Short-term borrowings | 4,070 | 5,979 | (31.9) | % | 14,235 | 19,917 | (28.5) | % | |||||||||||||||||||||||||||
| Long-term borrowings | 6,711 | 6,023 | 11.4 | % | 20,913 | 16,714 | 25.1 | % | |||||||||||||||||||||||||||
| Total interest expense | 93,044 | 89,768 | 3.6 | % | 276,396 | 268,522 | 2.9 | % | |||||||||||||||||||||||||||
| Net interest income | 196,256 | 160,486 | 22.3 | % | 576,243 | 468,051 | 23.1 | % | |||||||||||||||||||||||||||
| Provision for credit losses-loans and leases | 8,975 | 8,612 | 4.2 | % | 27,938 | 26,837 | 4.1 | % | |||||||||||||||||||||||||||
| Provision for credit losses-unfunded commitments | (72) | 453 | (115.9) | % | (2,305) | 730 | (415.8) | % | |||||||||||||||||||||||||||
| Net interest income after provision for credit losses | 187,353 | 151,421 | 23.7 | % | 550,610 | 440,484 | 25.0 | % | |||||||||||||||||||||||||||
| Noninterest income | |||||||||||||||||||||||||||||||||||
| Service charges on deposit accounts | 9,031 | 7,829 | 15.4 | % | 26,940 | 23,058 | 16.8 | % | |||||||||||||||||||||||||||
| Wealth management fees | 9,135 | 7,351 | 24.3 | % | 27,869 | 23,275 | 19.7 | % | |||||||||||||||||||||||||||
| Bankcard income | 3,862 | 3,589 | 7.6 | % | 10,474 | 10,636 | (1.5) | % | |||||||||||||||||||||||||||
| Client derivative fees | 2,511 | 1,876 | 33.8 | % | 7,964 | 5,121 | 55.5 | % | |||||||||||||||||||||||||||
| Foreign exchange income | 17,485 | 16,666 | 4.9 | % | 46,899 | 42,970 | 9.1 | % | |||||||||||||||||||||||||||
| Leasing business income | 22,967 | 20,997 | 9.4 | % | 67,325 | 60,497 | 11.3 | % | |||||||||||||||||||||||||||
| Net gains from sales of loans | 5,650 | 6,835 | (17.3) | % | 18,355 | 17,844 | 2.9 | % | |||||||||||||||||||||||||||
| Net gain (loss) on investment securities | 247 | (42) | 688.1 | % | (1,350) | (9,748) | 86.2 | % | |||||||||||||||||||||||||||
| Gain on bargain purchase | 37 | 0 | 100.0 | % | 12,118 | 0 | 100.0 | % | |||||||||||||||||||||||||||
| Other | 6,733 | 8,424 | (20.1) | % | 16,761 | 19,018 | (11.9) | % | |||||||||||||||||||||||||||
| Total noninterest income | 77,658 | 73,525 | 5.6 | % | 233,355 | 192,671 | 21.1 | % | |||||||||||||||||||||||||||
| Noninterest expenses | |||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | 94,385 | 80,607 | 17.1 | % | 281,158 | 230,762 | 21.8 | % | |||||||||||||||||||||||||||
| Net occupancy | 7,591 | 6,003 | 26.5 | % | 22,679 | 17,867 | 26.9 | % | |||||||||||||||||||||||||||
| Furniture and equipment | 4,834 | 3,582 | 35.0 | % | 13,837 | 10,836 | 27.7 | % | |||||||||||||||||||||||||||
| Data processing | 12,685 | 9,591 | 32.3 | % | 38,893 | 27,370 | 42.1 | % | |||||||||||||||||||||||||||
| Marketing | 3,801 | 2,359 | 61.1 | % | 10,069 | 7,114 | 41.5 | % | |||||||||||||||||||||||||||
| Professional services | 3,566 | 2,314 | 54.1 | % | 14,939 | 8,602 | 73.7 | % | |||||||||||||||||||||||||||
| Amortization of tax credit investments | 774 | 112 | 591.1 | % | 2,112 | 335 | 530.4 | % | |||||||||||||||||||||||||||
| FDIC assessments | 3,170 | 2,611 | 21.4 | % | 9,693 | 8,281 | 17.1 | % | |||||||||||||||||||||||||||
| Intangible amortization | 6,230 | 2,359 | 164.1 | % | 18,720 | 7,076 | 164.6 | % | |||||||||||||||||||||||||||
| Leasing business expense | 14,315 | 13,911 | 2.9 | % | 43,077 | 39,868 | 8.0 | % | |||||||||||||||||||||||||||
| Other | 14,385 | 10,820 | 32.9 | % | 41,509 | 32,905 | 26.1 | % | |||||||||||||||||||||||||||
| Total noninterest expenses | 165,736 | 134,269 | 23.4 | % | 496,686 | 391,016 | 27.0 | % | |||||||||||||||||||||||||||
| Income before income taxes | 99,275 | 90,677 | 9.5 | % | 287,279 | 242,139 | 18.6 | % | |||||||||||||||||||||||||||
| Income tax expense | 18,093 | 18,754 | (3.5) | % | 55,196 | 48,927 | 12.8 | % | |||||||||||||||||||||||||||
| Net income | $ | 81,182 | $ | 71,923 | 12.9 | % | $ | 232,083 | $ | 193,212 | 20.1 | % | |||||||||||||||||||||||
| ADDITIONAL DATA | |||||||||||||||||||||||||||||||||||
| Net earnings per share - basic | $ | 0.78 | $ | 0.76 | $ | 2.23 | $ | 2.04 | |||||||||||||||||||||||||||
| Net earnings per share - diluted | $ | 0.77 | $ | 0.75 | $ | 2.21 | $ | 2.02 | |||||||||||||||||||||||||||
| Dividends declared per share | $ | 0.26 | $ | 0.25 | $ | 0.76 | $ | 0.73 | |||||||||||||||||||||||||||
| Return on average assets | 1.44 | % | 1.54 | % | 1.39 | % | 1.40 | % | |||||||||||||||||||||||||||
| Return on average shareholders' equity | 10.87 | % | 11.08 | % | 10.50 | % | 10.26 | % | |||||||||||||||||||||||||||
| Interest income | $ | 289,300 | $ | 250,254 | 15.6 | % | $ | 852,639 | $ | 736,573 | 15.8 | % | |||||||||||||||||||||||
| Tax equivalent adjustment | 1,114 | 1,248 | (10.7) | % | 3,461 | 3,707 | (6.6) | % | |||||||||||||||||||||||||||
| Interest income - tax equivalent | 290,414 | 251,502 | 15.5 | % | 856,100 | 740,280 | 15.6 | % | |||||||||||||||||||||||||||
| Interest expense | 93,044 | 89,768 | 3.6 | % | 276,396 | 268,522 | 2.9 | % | |||||||||||||||||||||||||||
| Net interest income - tax equivalent | $ | 197,370 | $ | 161,734 | 22.0 | % | $ | 579,704 | $ | 471,758 | 22.9 | % | |||||||||||||||||||||||
| Net interest margin | 4.05 | % | 3.99 | % | 3.99 | % | 3.95 | % | |||||||||||||||||||||||||||
Net interest margin (fully tax equivalent) (1) | 4.07 | % | 4.02 | % | 4.01 | % | 3.98 | % | |||||||||||||||||||||||||||
| Full-time equivalent employees | 2,251 | 1,986 | |||||||||||||||||||||||||||||||||
(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% tax rate. Management believes that it is a standard 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. | |||||||||||||||||||||||||||||||||||
3
| FIRST FINANCIAL BANCORP. | |||||||||||||||||||||||||||||
| CONSOLIDATED QUARTERLY STATEMENTS OF INCOME | |||||||||||||||||||||||||||||
| (Dollars in thousands, except per share data) | |||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||
| 2026 | |||||||||||||||||||||||||||||
| Third | Second | First | Year to | % Change | |||||||||||||||||||||||||
| Quarter | Quarter | Quarter | Date | Linked Qtr. | |||||||||||||||||||||||||
| Interest income | |||||||||||||||||||||||||||||
| Loans and leases, including fees | $ | 228,730 | $ | 219,164 | $ | 224,951 | $ | 672,845 | 4.4 | % | |||||||||||||||||||
| Investment securities | |||||||||||||||||||||||||||||
| Taxable | 53,631 | 53,904 | 49,491 | 157,026 | (0.5) | % | |||||||||||||||||||||||
| Tax-exempt | 2,425 | 2,472 | 2,526 | 7,423 | (1.9) | % | |||||||||||||||||||||||
| Total investment securities interest | 56,056 | 56,376 | 52,017 | 164,449 | (0.6) | % | |||||||||||||||||||||||
| Other earning assets | 4,514 | 5,381 | 5,450 | 15,345 | (16.1) | % | |||||||||||||||||||||||
| Total interest income | 289,300 | 280,921 | 282,418 | 852,639 | 3.0 | % | |||||||||||||||||||||||
| Interest expense | |||||||||||||||||||||||||||||
| Deposits | 82,263 | 79,250 | 79,735 | 241,248 | 3.8 | % | |||||||||||||||||||||||
| Short-term borrowings | 4,070 | 4,997 | 5,168 | 14,235 | (18.6) | % | |||||||||||||||||||||||
| Long-term borrowings | 6,711 | 6,297 | 7,905 | 20,913 | 6.6 | % | |||||||||||||||||||||||
| Total interest expense | 93,044 | 90,544 | 92,808 | 276,396 | 2.8 | % | |||||||||||||||||||||||
| Net interest income | 196,256 | 190,377 | 189,610 | 576,243 | 3.1 | % | |||||||||||||||||||||||
| Provision for credit losses-loans and leases | 8,975 | 12,933 | 6,030 | 27,938 | (30.6) | % | |||||||||||||||||||||||
| Provision for credit losses-unfunded commitments | (72) | (4,743) | 2,510 | (2,305) | (98.5) | % | |||||||||||||||||||||||
| Net interest income after provision for credit losses | 187,353 | 182,187 | 181,070 | 550,610 | 2.8 | % | |||||||||||||||||||||||
| Noninterest income | |||||||||||||||||||||||||||||
| Service charges on deposit accounts | 9,031 | 8,896 | 9,013 | 26,940 | 1.5 | % | |||||||||||||||||||||||
| Wealth management fees | 9,135 | 8,252 | 10,482 | 27,869 | 10.7 | % | |||||||||||||||||||||||
| Bankcard income | 3,862 | 3,032 | 3,580 | 10,474 | 27.4 | % | |||||||||||||||||||||||
| Client derivative fees | 2,511 | 1,443 | 4,010 | 7,964 | 74.0 | % | |||||||||||||||||||||||
| Foreign exchange income | 17,485 | 13,101 | 16,313 | 46,899 | 33.5 | % | |||||||||||||||||||||||
| Leasing business income | 22,967 | 22,750 | 21,608 | 67,325 | 1.0 | % | |||||||||||||||||||||||
| Net gains from sales of loans | 5,650 | 6,658 | 6,047 | 18,355 | (15.1) | % | |||||||||||||||||||||||
| Net gain (loss) on investment securities | 247 | (337) | (1,260) | (1,350) | 173.3 | % | |||||||||||||||||||||||
| Gain on bargain purchase | 37 | 3,189 | 8,892 | 12,118 | (98.8) | % | |||||||||||||||||||||||
| Other | 6,733 | 6,807 | 3,221 | 16,761 | (1.1) | % | |||||||||||||||||||||||
| Total noninterest income | 77,658 | 73,791 | 81,906 | 233,355 | 5.2 | % | |||||||||||||||||||||||
| Noninterest expenses | |||||||||||||||||||||||||||||
| Salaries and employee benefits | 94,385 | 86,917 | 99,856 | 281,158 | 8.6 | % | |||||||||||||||||||||||
| Net occupancy | 7,591 | 7,535 | 7,553 | 22,679 | 0.7 | % | |||||||||||||||||||||||
| Furniture and equipment | 4,834 | 4,310 | 4,693 | 13,837 | 12.2 | % | |||||||||||||||||||||||
| Data processing | 12,685 | 13,554 | 12,654 | 38,893 | (6.4) | % | |||||||||||||||||||||||
| Marketing | 3,801 | 3,616 | 2,652 | 10,069 | 5.1 | % | |||||||||||||||||||||||
| Professional services | 3,566 | 7,387 | 3,986 | 14,939 | (51.7) | % | |||||||||||||||||||||||
| Amortization of tax credit investments | 774 | 669 | 669 | 2,112 | 15.7 | % | |||||||||||||||||||||||
| FDIC assessments | 3,170 | 2,878 | 3,645 | 9,693 | 10.1 | % | |||||||||||||||||||||||
| Intangible amortization | 6,230 | 6,229 | 6,261 | 18,720 | 0.0 | % | |||||||||||||||||||||||
| Leasing business expense | 14,315 | 14,633 | 14,129 | 43,077 | (2.2) | % | |||||||||||||||||||||||
| Other | 14,385 | 13,814 | 13,310 | 41,509 | 4.1 | % | |||||||||||||||||||||||
| Total noninterest expenses | 165,736 | 161,542 | 169,408 | 496,686 | 2.6 | % | |||||||||||||||||||||||
| Income before income taxes | 99,275 | 94,436 | 93,568 | 287,279 | 5.1 | % | |||||||||||||||||||||||
| Income tax expense | 18,093 | 17,980 | 19,123 | 55,196 | 0.6 | % | |||||||||||||||||||||||
| Net income | $ | 81,182 | $ | 76,456 | $ | 74,445 | $ | 232,083 | 6.2 | % | |||||||||||||||||||
| ADDITIONAL DATA | |||||||||||||||||||||||||||||
| Net earnings per share - basic | $ | 0.78 | $ | 0.74 | $ | 0.72 | $ | 2.23 | |||||||||||||||||||||
| Net earnings per share - diluted | $ | 0.77 | $ | 0.73 | $ | 0.71 | $ | 2.21 | |||||||||||||||||||||
| Dividends declared per share | $ | 0.26 | $ | 0.25 | $ | 0.25 | $ | 0.76 | |||||||||||||||||||||
| Return on average assets | 1.44 | % | 1.37 | % | 1.34 | % | 1.39 | % | |||||||||||||||||||||
| Return on average shareholders' equity | 10.87 | % | 10.39 | % | 10.24 | % | 10.50 | % | |||||||||||||||||||||
| Interest income | $ | 289,300 | $ | 280,921 | $ | 282,418 | $ | 852,639 | 3.0 | % | |||||||||||||||||||
| Tax equivalent adjustment | 1,114 | 1,161 | 1,186 | 3,461 | (4.0) | % | |||||||||||||||||||||||
| Interest income - tax equivalent | 290,414 | 282,082 | 283,604 | 856,100 | 3.0 | % | |||||||||||||||||||||||
| Interest expense | 93,044 | 90,544 | 92,808 | 276,396 | 2.8 | % | |||||||||||||||||||||||
| Net interest income - tax equivalent | $ | 197,370 | $ | 191,538 | $ | 190,796 | $ | 579,704 | 3.0 | % | |||||||||||||||||||
| Net interest margin | 4.05 | % | 3.96 | % | 3.97 | % | 3.99 | % | |||||||||||||||||||||
Net interest margin (fully tax equivalent) (1) | 4.07 | % | 3.98 | % | 3.99 | % | 4.01 | % | |||||||||||||||||||||
| Full-time equivalent employees | 2,251 | 2,371 | 2,319 | ||||||||||||||||||||||||||
| (1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% tax rate. Management believes that it is a standard 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. | |||||||||||||||||||||||||||||
4
| FIRST FINANCIAL BANCORP. | |||||||||||||||||||||||||||||
| CONSOLIDATED QUARTERLY STATEMENTS OF INCOME | |||||||||||||||||||||||||||||
| (Dollars in thousands, except per share data) | |||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||
| 2025 | |||||||||||||||||||||||||||||
| Fourth | Third | Second | First | Full | |||||||||||||||||||||||||
| Quarter | Quarter | Quarter | Quarter | Year | |||||||||||||||||||||||||
| Interest income | |||||||||||||||||||||||||||||
| Loans and leases, including fees | $ | 215,663 | $ | 204,865 | $ | 201,460 | $ | 197,163 | $ | 819,151 | |||||||||||||||||||
| Investment securities | |||||||||||||||||||||||||||||
| Taxable | 40,971 | 36,421 | 36,243 | 34,401 | 148,036 | ||||||||||||||||||||||||
| Tax-exempt | 2,363 | 2,195 | 2,233 | 2,204 | 8,995 | ||||||||||||||||||||||||
| Total investment securities interest | 43,334 | 38,616 | 38,476 | 36,605 | 157,031 | ||||||||||||||||||||||||
| Other earning assets | 6,334 | 6,773 | 5,964 | 6,651 | 25,722 | ||||||||||||||||||||||||
| Total interest income | 265,331 | 250,254 | 245,900 | 240,419 | 1,001,904 | ||||||||||||||||||||||||
| Interest expense | |||||||||||||||||||||||||||||
| Deposits | 78,861 | 77,766 | 75,484 | 78,641 | 310,752 | ||||||||||||||||||||||||
| Short-term borrowings | 4,925 | 5,979 | 6,393 | 7,545 | 24,842 | ||||||||||||||||||||||||
| Long-term borrowings | 7,550 | 6,023 | 5,754 | 4,937 | 24,264 | ||||||||||||||||||||||||
| Total interest expense | 91,336 | 89,768 | 87,631 | 91,123 | 359,858 | ||||||||||||||||||||||||
| Net interest income | 173,995 | 160,486 | 158,269 | 149,296 | 642,046 | ||||||||||||||||||||||||
| Provision for credit losses-loans and leases | 9,688 | 8,612 | 9,084 | 9,141 | 36,525 | ||||||||||||||||||||||||
| Provision for credit losses-unfunded commitments | 412 | 453 | 718 | (441) | 1,142 | ||||||||||||||||||||||||
| Net interest income after provision for credit losses | 163,895 | 151,421 | 148,467 | 140,596 | 604,379 | ||||||||||||||||||||||||
| Noninterest income | |||||||||||||||||||||||||||||
| Service charges on deposit accounts | 8,308 | 7,829 | 7,766 | 7,463 | 31,366 | ||||||||||||||||||||||||
| Wealth management fees | 9,288 | 7,351 | 7,787 | 8,137 | 32,563 | ||||||||||||||||||||||||
| Bankcard income | 3,590 | 3,589 | 3,737 | 3,310 | 14,226 | ||||||||||||||||||||||||
| Client derivative fees | 2,681 | 1,876 | 1,674 | 1,571 | 7,802 | ||||||||||||||||||||||||
| Foreign exchange income | 22,696 | 16,666 | 13,760 | 12,544 | 65,666 | ||||||||||||||||||||||||
| Leasing business income | 19,523 | 20,997 | 20,797 | 18,703 | 80,020 | ||||||||||||||||||||||||
| Net gains from sales of loans | 7,041 | 6,835 | 6,687 | 4,322 | 24,885 | ||||||||||||||||||||||||
| Net gain (loss) on investment securities | (12,576) | (42) | 243 | (9,949) | (22,324) | ||||||||||||||||||||||||
| Other | 4,216 | 8,424 | 5,612 | 4,982 | 23,234 | ||||||||||||||||||||||||
| Total noninterest income | 64,767 | 73,525 | 68,063 | 51,083 | 257,438 | ||||||||||||||||||||||||
| Noninterest expenses | |||||||||||||||||||||||||||||
| Salaries and employee benefits | 85,123 | 80,607 | 74,917 | 75,238 | 315,885 | ||||||||||||||||||||||||
| Net occupancy | 6,315 | 6,003 | 5,845 | 6,019 | 24,182 | ||||||||||||||||||||||||
| Furniture and equipment | 3,940 | 3,582 | 3,441 | 3,813 | 14,776 | ||||||||||||||||||||||||
| Data processing | 10,465 | 9,591 | 9,020 | 8,759 | 37,835 | ||||||||||||||||||||||||
| Marketing | 3,056 | 2,359 | 2,737 | 2,018 | 10,170 | ||||||||||||||||||||||||
| Professional services | 6,231 | 2,314 | 3,549 | 2,739 | 14,833 | ||||||||||||||||||||||||
| Amortization of tax credit investments | 800 | 112 | 111 | 112 | 1,135 | ||||||||||||||||||||||||
| FDIC assessments | 2,923 | 2,611 | 2,611 | 3,059 | 11,204 | ||||||||||||||||||||||||
| Intangible amortization | 3,927 | 2,359 | 2,358 | 2,359 | 11,003 | ||||||||||||||||||||||||
| Leasing business expense | 13,837 | 13,911 | 13,155 | 12,802 | 53,705 | ||||||||||||||||||||||||
| Other | 12,914 | 10,820 | 10,927 | 11,158 | 45,819 | ||||||||||||||||||||||||
| Total noninterest expenses | 149,531 | 134,269 | 128,671 | 128,076 | 540,547 | ||||||||||||||||||||||||
| Income before income taxes | 79,131 | 90,677 | 87,859 | 63,603 | 321,270 | ||||||||||||||||||||||||
| Income tax expense | 16,738 | 18,754 | 17,863 | 12,310 | 65,665 | ||||||||||||||||||||||||
| Net income | $ | 62,393 | $ | 71,923 | $ | 69,996 | $ | 51,293 | $ | 255,605 | |||||||||||||||||||
| ADDITIONAL DATA | |||||||||||||||||||||||||||||
| Net earnings per share - basic | $ | 0.65 | $ | 0.76 | $ | 0.74 | $ | 0.54 | $ | 2.68 | |||||||||||||||||||
| Net earnings per share - diluted | $ | 0.64 | $ | 0.75 | $ | 0.73 | $ | 0.54 | $ | 2.66 | |||||||||||||||||||
| Dividends declared per share | $ | 0.25 | $ | 0.25 | $ | 0.24 | $ | 0.24 | $ | 0.98 | |||||||||||||||||||
| Return on average assets | 1.22 | % | 1.54 | % | 1.52 | % | 1.13 | % | 1.35 | % | |||||||||||||||||||
| Return on average shareholders' equity | 9.18 | % | 11.08 | % | 11.16 | % | 8.46 | % | 9.98 | % | |||||||||||||||||||
| Interest income | $ | 265,331 | $ | 250,254 | $ | 245,900 | $ | 240,419 | $ | 1,001,904 | |||||||||||||||||||
| Tax equivalent adjustment | 1,227 | 1,248 | 1,246 | 1,213 | 4,934 | ||||||||||||||||||||||||
| Interest income - tax equivalent | 266,558 | 251,502 | 247,146 | 241,632 | 1,006,838 | ||||||||||||||||||||||||
| Interest expense | 91,336 | 89,768 | 87,631 | 91,123 | 359,858 | ||||||||||||||||||||||||
| Net interest income - tax equivalent | $ | 175,222 | $ | 161,734 | $ | 159,515 | $ | 150,509 | $ | 646,980 | |||||||||||||||||||
| Net interest margin | 3.96 | % | 3.99 | % | 4.01 | % | 3.84 | % | 3.95 | % | |||||||||||||||||||
Net interest margin (fully tax equivalent) (1) | 3.98 | % | 4.02 | % | 4.05 | % | 3.88 | % | 3.98 | % | |||||||||||||||||||
| Full-time equivalent employees | 2,164 | 1,986 | 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 21% tax rate. Management believes that it is a standard 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. | |||||||||||||||||||||||||||||
5
| FIRST FINANCIAL BANCORP. | |||||||||||||||||||||||||||||||||||||||||
| CONSOLIDATED STATEMENTS OF CONDITION | |||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||||||||
| Sep. 30, | June 30, | Mar. 31, | Dec. 31, | Sep. 30, | % Change | % Change | |||||||||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | Linked Qtr. | Comp Qtr. | |||||||||||||||||||||||||||||||||||
| ASSETS | |||||||||||||||||||||||||||||||||||||||||
| Cash and due from banks | $ | 176,102 | $ | 206,361 | $ | 170,641 | $ | 178,553 | $ | 174,659 | (14.7) | % | 0.8 | % | |||||||||||||||||||||||||||
| Interest-bearing deposits with other banks | 566,778 | 579,194 | 1,032,259 | 597,338 | 565,080 | (2.1) | % | 0.3 | % | ||||||||||||||||||||||||||||||||
| Investment securities available-for-sale | 4,635,304 | 4,733,713 | 4,953,023 | 3,971,932 | 3,422,595 | (2.1) | % | 35.4 | % | ||||||||||||||||||||||||||||||||
| Investment securities held-to-maturity | 38,321 | 46,067 | 49,631 | 58,545 | 71,595 | (16.8) | % | (46.5) | % | ||||||||||||||||||||||||||||||||
| Other investments | 139,535 | 137,755 | 137,018 | 129,564 | 117,120 | 1.3 | % | 19.1 | % | ||||||||||||||||||||||||||||||||
| Loans held for sale | 22,958 | 33,125 | 18,280 | 16,953 | 21,466 | (30.7) | % | 7.0 | % | ||||||||||||||||||||||||||||||||
| Loans and leases | |||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | 4,948,380 | 4,842,347 | 4,693,786 | 4,632,241 | 3,838,630 | 2.2 | % | 28.9 | % | ||||||||||||||||||||||||||||||||
| Lease financing | 678,423 | 659,328 | 649,645 | 638,527 | 596,734 | 2.9 | % | 13.7 | % | ||||||||||||||||||||||||||||||||
| Construction real estate | 606,696 | 599,258 | 591,080 | 677,339 | 627,960 | 1.2 | % | (3.4) | % | ||||||||||||||||||||||||||||||||
| Commercial real estate | 4,542,568 | 4,548,887 | 4,473,468 | 4,384,556 | 4,048,370 | (0.1) | % | 12.2 | % | ||||||||||||||||||||||||||||||||
| Residential real estate | 1,806,123 | 1,805,044 | 1,831,338 | 1,832,184 | 1,494,464 | 0.1 | % | 20.9 | % | ||||||||||||||||||||||||||||||||
| Home equity | 1,105,790 | 1,058,175 | 1,026,839 | 1,005,204 | 935,975 | 4.5 | % | 18.1 | % | ||||||||||||||||||||||||||||||||
| Installment | 150,485 | 156,470 | 162,314 | 188,694 | 109,764 | (3.8) | % | 37.1 | % | ||||||||||||||||||||||||||||||||
| Credit card | 66,617 | 65,405 | 66,371 | 65,325 | 62,654 | 1.9 | % | 6.3 | % | ||||||||||||||||||||||||||||||||
| Total loans | 13,905,082 | 13,734,914 | 13,494,841 | 13,424,070 | 11,714,551 | 1.2 | % | 18.7 | % | ||||||||||||||||||||||||||||||||
| Less: | |||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses | (191,650) | (189,912) | (183,716) | (186,487) | (161,916) | 0.9 | % | 18.4 | % | ||||||||||||||||||||||||||||||||
| Net loans | 13,713,432 | 13,545,002 | 13,311,125 | 13,237,583 | 11,552,635 | 1.2 | % | 18.7 | % | ||||||||||||||||||||||||||||||||
| Premises and equipment | 229,669 | 229,763 | 228,384 | 204,760 | 198,251 | 0.0 | % | 15.8 | % | ||||||||||||||||||||||||||||||||
| Operating leases | 237,160 | 241,742 | 220,061 | 214,003 | 214,667 | (1.9) | % | 10.5 | % | ||||||||||||||||||||||||||||||||
| Goodwill | 1,099,936 | 1,099,936 | 1,099,543 | 1,099,524 | 1,007,656 | 0.0 | % | 9.2 | % | ||||||||||||||||||||||||||||||||
| Other intangibles | 135,077 | 140,705 | 145,927 | 118,832 | 73,797 | (4.0) | % | 83.0 | % | ||||||||||||||||||||||||||||||||
| Accrued interest and other assets | 1,319,883 | 1,446,316 | 1,413,923 | 1,301,792 | 1,134,985 | (8.7) | % | 16.3 | % | ||||||||||||||||||||||||||||||||
| Total Assets | $ | 22,314,155 | $ | 22,439,679 | $ | 22,779,815 | $ | 21,129,379 | $ | 18,554,506 | (0.6) | % | 20.3 | % | |||||||||||||||||||||||||||
| LIABILITIES | |||||||||||||||||||||||||||||||||||||||||
| Deposits | |||||||||||||||||||||||||||||||||||||||||
| Interest-bearing demand | $ | 3,820,903 | $ | 3,804,301 | $ | 3,658,155 | $ | 3,360,613 | $ | 2,983,132 | 0.4 | % | 28.1 | % | |||||||||||||||||||||||||||
| Savings | 6,408,902 | 6,423,986 | 6,460,546 | 5,973,532 | 5,029,097 | (0.2) | % | 27.4 | % | ||||||||||||||||||||||||||||||||
| Time | 3,636,887 | 3,650,043 | 3,817,268 | 3,622,227 | 3,293,707 | (0.4) | % | 10.4 | % | ||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 13,866,692 | 13,878,330 | 13,935,969 | 12,956,372 | 11,305,936 | (0.1) | % | 22.6 | % | ||||||||||||||||||||||||||||||||
| Noninterest-bearing | 3,831,099 | 3,704,899 | 3,982,753 | 3,465,470 | 3,127,512 | 3.4 | % | 22.5 | % | ||||||||||||||||||||||||||||||||
| Total deposits | 17,697,791 | 17,583,229 | 17,918,722 | 16,421,842 | 14,433,448 | 0.7 | % | 22.6 | % | ||||||||||||||||||||||||||||||||
| FHLB short-term borrowings | 575,000 | 570,000 | 550,000 | 675,000 | 550,000 | 0.9 | % | 4.5 | % | ||||||||||||||||||||||||||||||||
| Other | 76,860 | 39,532 | 70,457 | 332 | 45,167 | 94.4 | % | 70.2 | % | ||||||||||||||||||||||||||||||||
| Total short-term borrowings | 651,860 | 609,532 | 620,457 | 675,332 | 595,167 | 6.9 | % | 9.5 | % | ||||||||||||||||||||||||||||||||
| Long-term debt | 364,925 | 382,550 | 380,176 | 514,052 | 221,823 | (4.6) | % | 64.5 | % | ||||||||||||||||||||||||||||||||
| Total borrowed funds | 1,016,785 | 992,082 | 1,000,633 | 1,189,384 | 816,990 | 2.5 | % | 24.5 | % | ||||||||||||||||||||||||||||||||
| Accrued interest and other liabilities | 718,097 | 876,880 | 919,835 | 748,937 | 672,213 | (18.1) | % | 6.8 | % | ||||||||||||||||||||||||||||||||
| Total Liabilities | 19,432,673 | 19,452,191 | 19,839,190 | 18,360,163 | 15,922,651 | (0.1) | % | 22.0 | % | ||||||||||||||||||||||||||||||||
| SHAREHOLDERS' EQUITY | |||||||||||||||||||||||||||||||||||||||||
| Common stock | 1,790,583 | 1,792,158 | 1,789,676 | 1,647,618 | 1,641,315 | (0.1) | % | 9.1 | % | ||||||||||||||||||||||||||||||||
| Retained earnings | 1,589,622 | 1,535,765 | 1,485,573 | 1,437,286 | 1,399,577 | 3.5 | % | 13.6 | % | ||||||||||||||||||||||||||||||||
| Accumulated other comprehensive income (loss) | (387,095) | (223,720) | (217,430) | (189,942) | (223,000) | 73.0 | % | 73.6 | % | ||||||||||||||||||||||||||||||||
| Treasury stock, at cost | (111,628) | (116,715) | (117,194) | (125,746) | (186,037) | (4.4) | % | (40.0) | % | ||||||||||||||||||||||||||||||||
| Total Shareholders' Equity | 2,881,482 | 2,987,488 | 2,940,625 | 2,769,216 | 2,631,855 | (3.5) | % | 9.5 | % | ||||||||||||||||||||||||||||||||
| Total Liabilities and Shareholders' Equity | $ | 22,314,155 | $ | 22,439,679 | $ | 22,779,815 | $ | 21,129,379 | $ | 18,554,506 | (0.6) | % | 20.3 | % | |||||||||||||||||||||||||||
6
| FIRST FINANCIAL BANCORP. | |||||||||||||||||||||||||||||||||||||||||
| AVERAGE CONSOLIDATED STATEMENTS OF CONDITION | |||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||||||||
| Quarterly Averages | Year-to-Date Averages | ||||||||||||||||||||||||||||||||||||||||
| Sep. 30, | June 30, | Mar. 31, | Dec. 31, | Sep. 30, | Sep. 30, | ||||||||||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | 2026 | 2025 | |||||||||||||||||||||||||||||||||||
| ASSETS | |||||||||||||||||||||||||||||||||||||||||
| Cash and due from banks | $ | 183,151 | $ | 182,261 | $ | 227,115 | $ | 178,403 | $ | 165,210 | $ | 197,348 | $ | 168,108 | |||||||||||||||||||||||||||
| Interest-bearing deposits with other banks | 499,575 | 605,647 | 596,094 | 647,347 | 610,074 | 566,752 | 589,546 | ||||||||||||||||||||||||||||||||||
| Investment securities | 4,925,893 | 5,079,730 | 4,769,261 | 3,988,846 | 3,552,014 | 4,925,535 | 3,481,357 | ||||||||||||||||||||||||||||||||||
| Loans held for sale | 33,515 | 32,458 | 451,139 | 32,425 | 26,366 | 170,841 | 20,594 | ||||||||||||||||||||||||||||||||||
| Loans and leases | |||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | 4,863,566 | 4,723,431 | 4,771,066 | 4,310,399 | 3,890,886 | 4,786,360 | 3,853,411 | ||||||||||||||||||||||||||||||||||
| Lease financing | 662,208 | 646,520 | 630,204 | 617,518 | 592,510 | 646,428 | 586,267 | ||||||||||||||||||||||||||||||||||
| Construction real estate | 615,131 | 583,146 | 643,270 | 679,884 | 711,011 | 613,746 | 763,731 | ||||||||||||||||||||||||||||||||||
| Commercial real estate | 4,551,002 | 4,546,901 | 4,446,231 | 4,240,042 | 3,993,549 | 4,515,095 | 3,990,073 | ||||||||||||||||||||||||||||||||||
| Residential real estate | 1,791,576 | 1,812,228 | 1,834,467 | 1,717,439 | 1,489,942 | 1,812,600 | 1,483,760 | ||||||||||||||||||||||||||||||||||
| Home equity | 1,079,269 | 1,043,805 | 1,016,080 | 981,406 | 919,368 | 1,046,616 | 889,985 | ||||||||||||||||||||||||||||||||||
| Installment | 153,945 | 158,760 | 166,979 | 164,013 | 114,058 | 159,847 | 119,610 | ||||||||||||||||||||||||||||||||||
| Credit card | 71,685 | 71,790 | 68,888 | 69,141 | 68,375 | 70,798 | 67,411 | ||||||||||||||||||||||||||||||||||
| Total loans | 13,788,382 | 13,586,581 | 13,577,185 | 12,779,842 | 11,779,699 | 13,651,490 | 11,754,248 | ||||||||||||||||||||||||||||||||||
| Less: | |||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses | (192,456) | (186,331) | (200,745) | (179,275) | (162,417) | (193,147) | (159,613) | ||||||||||||||||||||||||||||||||||
| Net loans | 13,595,926 | 13,400,250 | 13,376,440 | 12,600,567 | 11,617,282 | 13,458,343 | 11,594,635 | ||||||||||||||||||||||||||||||||||
| Premises and equipment | 230,932 | 230,343 | 230,154 | 202,956 | 199,167 | 230,479 | 198,858 | ||||||||||||||||||||||||||||||||||
| Operating leases | 237,488 | 234,460 | 215,318 | 211,091 | 217,404 | 229,170 | 211,801 | ||||||||||||||||||||||||||||||||||
| Goodwill | 1,099,934 | 1,099,742 | 1,099,543 | 1,069,781 | 1,007,656 | 1,099,741 | 1,007,656 | ||||||||||||||||||||||||||||||||||
| Other intangibles | 138,310 | 143,403 | 149,631 | 104,184 | 74,448 | 143,740 | 76,234 | ||||||||||||||||||||||||||||||||||
| Accrued interest and other assets | 1,376,388 | 1,383,145 | 1,345,026 | 1,220,939 | 1,096,567 | 1,368,301 | 1,103,344 | ||||||||||||||||||||||||||||||||||
| Total Assets | $ | 22,321,112 | $ | 22,391,439 | $ | 22,459,721 | $ | 20,256,539 | $ | 18,566,188 | $ | 22,390,250 | $ | 18,452,133 | |||||||||||||||||||||||||||
| LIABILITIES | |||||||||||||||||||||||||||||||||||||||||
| Deposits | |||||||||||||||||||||||||||||||||||||||||
| Interest-bearing demand | $ | 3,814,405 | $ | 3,762,177 | $ | 3,626,103 | $ | 3,276,425 | $ | 3,036,296 | $ | 3,734,918 | $ | 3,064,404 | |||||||||||||||||||||||||||
| Savings | 6,458,303 | 6,434,399 | 6,406,223 | 5,740,651 | 5,054,563 | 6,433,166 | 4,993,198 | ||||||||||||||||||||||||||||||||||
| Time | 3,669,146 | 3,678,808 | 3,868,224 | 3,504,872 | 3,296,789 | 3,737,997 | 3,192,928 | ||||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 13,941,854 | 13,875,384 | 13,900,550 | 12,521,948 | 11,387,648 | 13,906,081 | 11,250,530 | ||||||||||||||||||||||||||||||||||
| Noninterest-bearing | 3,797,339 | 3,811,391 | 3,745,002 | 3,436,709 | 3,124,277 | 3,784,769 | 3,119,587 | ||||||||||||||||||||||||||||||||||
| Total deposits | 17,739,193 | 17,686,775 | 17,645,552 | 15,958,657 | 14,511,925 | 17,690,850 | 14,370,117 | ||||||||||||||||||||||||||||||||||
| Federal funds purchased and securities sold | |||||||||||||||||||||||||||||||||||||||||
| under agreements to repurchase | 46,803 | 3,351 | 16,278 | 2,283 | 12,434 | 22,256 | 6,461 | ||||||||||||||||||||||||||||||||||
| FHLB short-term borrowings | 357,140 | 508,931 | 538,084 | 444,511 | 497,092 | 467,389 | 527,445 | ||||||||||||||||||||||||||||||||||
| Other | 0 | 0 | 0 | 13,891 | 21,519 | 0 | 48,756 | ||||||||||||||||||||||||||||||||||
| Total short-term borrowings | 403,943 | 512,282 | 554,362 | 460,685 | 531,045 | 489,645 | 582,662 | ||||||||||||||||||||||||||||||||||
| Long-term debt | 375,039 | 379,354 | 457,799 | 387,965 | 292,301 | 403,761 | 328,438 | ||||||||||||||||||||||||||||||||||
| Total borrowed funds | 778,982 | 891,636 | 1,012,161 | 848,650 | 823,346 | 893,406 | 911,100 | ||||||||||||||||||||||||||||||||||
| Accrued interest and other liabilities | 839,667 | 861,791 | 854,423 | 753,651 | 655,714 | 851,906 | 654,241 | ||||||||||||||||||||||||||||||||||
| Total Liabilities | 19,357,842 | 19,440,202 | 19,512,136 | 17,560,958 | 15,990,985 | 19,436,162 | 15,935,458 | ||||||||||||||||||||||||||||||||||
| SHAREHOLDERS' EQUITY | |||||||||||||||||||||||||||||||||||||||||
| Common stock | 1,792,381 | 1,790,690 | 1,795,255 | 1,644,923 | 1,639,986 | 1,792,765 | 1,639,591 | ||||||||||||||||||||||||||||||||||
| Retained earnings | 1,545,957 | 1,499,207 | 1,448,012 | 1,406,388 | 1,369,069 | 1,498,084 | 1,324,830 | ||||||||||||||||||||||||||||||||||
| Accumulated other comprehensive loss | (259,303) | (221,515) | (173,065) | (209,767) | (247,746) | (218,277) | (260,129) | ||||||||||||||||||||||||||||||||||
| Treasury stock, at cost | (115,765) | (117,145) | (122,617) | (145,963) | (186,106) | (118,484) | (187,617) | ||||||||||||||||||||||||||||||||||
| Total Shareholders' Equity | 2,963,270 | 2,951,237 | 2,947,585 | 2,695,581 | 2,575,203 | 2,954,088 | 2,516,675 | ||||||||||||||||||||||||||||||||||
| Total Liabilities and Shareholders' Equity | $ | 22,321,112 | $ | 22,391,439 | $ | 22,459,721 | $ | 20,256,539 | $ | 18,566,188 | $ | 22,390,250 | $ | 18,452,133 | |||||||||||||||||||||||||||
7
| FIRST FINANCIAL BANCORP. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NET INTEREST MARGIN RATE/VOLUME ANALYSIS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarterly Averages | Year-to-Date Averages | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance | Interest | Yield | Balance | Interest | Yield | Balance | Interest | Yield | Balance | Yield | Balance | Yield | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earning assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment securities | $ | 4,925,893 | $ | 56,056 | 4.51 | % | $ | 5,079,730 | $ | 56,376 | 4.45 | % | $ | 3,552,014 | $ | 38,616 | 4.31 | % | $ | 4,925,535 | 4.46 | % | $ | 3,481,357 | 4.37 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits with other banks | 499,575 | 4,514 | 3.58 | % | 605,647 | 5,381 | 3.56 | % | 610,074 | 6,773 | 4.40 | % | 566,752 | 3.62 | % | 589,546 | 4.40 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross loans (1) | 13,821,897 | 228,730 | 6.57 | % | 13,619,039 | 219,164 | 6.45 | % | 11,806,065 | 204,865 | 6.88 | % | 13,822,331 | 6.51 | % | 11,774,842 | 6.85 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total earning assets | 19,247,365 | 289,300 | 5.96 | % | 19,304,416 | 280,921 | 5.84 | % | 15,968,153 | 250,254 | 6.22 | % | 19,314,618 | 5.90 | % | 15,845,745 | 6.21 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Nonearning assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses | (192,456) | (186,331) | (162,417) | (193,147) | (159,613) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and due from banks | 183,151 | 182,261 | 165,210 | 197,348 | 168,108 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accrued interest and other assets | 3,083,052 | 3,091,093 | 2,595,242 | 3,071,431 | 2,597,893 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 22,321,112 | $ | 22,391,439 | $ | 18,566,188 | $ | 22,390,250 | $ | 18,452,133 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing demand | $ | 3,814,405 | $ | 15,985 | 1.66 | % | $ | 3,762,177 | $ | 14,288 | 1.52 | % | $ | 3,036,296 | $ | 14,592 | 1.91 | % | $ | 3,734,918 | 1.56 | % | $ | 3,064,404 | 1.92 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Savings | 6,458,303 | 34,149 | 2.10 | % | 6,434,399 | 33,405 | 2.08 | % | 5,054,563 | 30,854 | 2.42 | % | 6,433,166 | 2.08 | % | 4,993,198 | 2.44 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Time | 3,669,146 | 32,129 | 3.47 | % | 3,678,808 | 31,557 | 3.44 | % | 3,296,789 | 32,320 | 3.89 | % | 3,737,997 | 3.49 | % | 3,192,928 | 4.05 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 13,941,854 | 82,263 | 2.34 | % | 13,875,384 | 79,250 | 2.29 | % | 11,387,648 | 77,766 | 2.71 | % | 13,906,081 | 2.32 | % | 11,250,530 | 2.76 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Borrowed funds | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Short-term borrowings | 403,943 | 4,070 | 4.00 | % | 512,282 | 4,997 | 3.91 | % | 531,045 | 5,979 | 4.47 | % | 489,645 | 3.89 | % | 582,662 | 4.57 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term debt | 375,039 | 6,711 | 7.10 | % | 379,354 | 6,297 | 6.66 | % | 292,301 | 6,023 | 8.17 | % | 403,761 | 6.93 | % | 328,438 | 6.80 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total borrowed funds | 778,982 | 10,781 | 5.49 | % | 891,636 | 11,294 | 5.08 | % | 823,346 | 12,002 | 5.78 | % | 893,406 | 5.26 | % | 911,100 | 5.38 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 14,720,836 | 93,044 | 2.51 | % | 14,767,020 | 90,544 | 2.46 | % | 12,210,994 | 89,768 | 2.92 | % | 14,799,487 | 2.50 | % | 12,161,630 | 2.95 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest-bearing liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest-bearing demand deposits | 3,797,339 | 3,811,391 | 3,124,277 | 3,784,769 | 3,119,587 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other liabilities | 839,667 | 861,791 | 655,714 | 851,906 | 654,241 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shareholders' equity | 2,963,270 | 2,951,237 | 2,575,203 | 2,954,088 | 2,516,675 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities & shareholders' equity | $ | 22,321,112 | $ | 22,391,439 | $ | 18,566,188 | $ | 22,390,250 | $ | 18,452,133 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 196,256 | $ | 190,377 | $ | 160,486 | $ | 576,243 | $ | 468,051 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest spread | 3.45 | % | 3.38 | % | 3.30 | % | 3.40 | % | 3.26 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest margin | 4.05 | % | 3.96 | % | 3.99 | % | 3.99 | % | 3.95 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax equivalent adjustment | 0.02 | % | 0.02 | % | 0.03 | % | 0.02 | % | 0.03 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest margin (fully tax equivalent) | 4.07 | % | 3.98 | % | 4.02 | % | 4.01 | % | 3.98 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(1) Loans held for sale and nonaccrual loans are included in gross loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8
| 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 | $ | 802 | $ | (1,122) | $ | (320) | $ | 1,805 | $ | 15,635 | $ | 17,440 | $ | 2,535 | $ | 48,217 | $ | 50,752 | ||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits with other banks | 32 | (899) | (867) | (1,261) | (998) | (2,259) | (3,426) | (617) | (4,043) | |||||||||||||||||||||||||||||||||||||||||||||||
Gross loans (2) | 3,759 | 5,807 | 9,566 | (9,494) | 33,359 | 23,865 | (30,311) | 99,668 | 69,357 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total earning assets | 4,593 | 3,786 | 8,379 | (8,950) | 47,996 | 39,046 | (31,202) | 147,268 | 116,066 | |||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | $ | 1,731 | $ | 1,282 | $ | 3,013 | $ | (10,574) | $ | 15,071 | $ | 4,497 | $ | (36,713) | $ | 46,070 | $ | 9,357 | ||||||||||||||||||||||||||||||||||||||
| Borrowed funds | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Short-term borrowings | 108 | (1,035) | (927) | (628) | (1,281) | (1,909) | (2,978) | (2,704) | (5,682) | |||||||||||||||||||||||||||||||||||||||||||||||
| Long-term debt | 417 | (3) | 414 | (793) | 1,481 | 688 | 298 | 3,901 | 4,199 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total borrowed funds | 525 | (1,038) | (513) | (1,421) | 200 | (1,221) | (2,680) | 1,197 | (1,483) | |||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 2,256 | 244 | 2,500 | (11,995) | 15,271 | 3,276 | (39,393) | 47,267 | 7,874 | |||||||||||||||||||||||||||||||||||||||||||||||
Net interest income (1) | $ | 2,337 | $ | 3,542 | $ | 5,879 | $ | 3,045 | $ | 32,725 | $ | 35,770 | $ | 8,191 | $ | 100,001 | $ | 108,192 | ||||||||||||||||||||||||||||||||||||||
(1) Not tax equivalent. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(2) Loans held for sale and nonaccrual loans are included in gross loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
9
| FIRST FINANCIAL BANCORP. | |||||||||||||||||||||||||||||||||||||||||
| CREDIT QUALITY | |||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||||||||
| Three Months Ended, | Nine months ended | ||||||||||||||||||||||||||||||||||||||||
| Sep. 30, | June 30, | Mar. 31, | Dec. 31, | Sep. 30, | Sep. 30, | Sep. 30, | |||||||||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | 2026 | 2025 | |||||||||||||||||||||||||||||||||||
| ALLOWANCE FOR CREDIT LOSS ACTIVITY | |||||||||||||||||||||||||||||||||||||||||
| Balance at beginning of period | $ | 189,912 | $ | 183,716 | $ | 186,487 | $ | 161,916 | $ | 158,522 | $ | 186,487 | $ | 156,791 | |||||||||||||||||||||||||||
| Initial allowance on purchased loans | 0 | 0 | 2,829 | 23,652 | 0 | 2,829 | 0 | ||||||||||||||||||||||||||||||||||
| Provision for credit losses | 8,975 | 12,933 | 6,030 | 9,688 | 8,612 | 27,938 | 26,837 | ||||||||||||||||||||||||||||||||||
| Gross charge-offs | |||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | 984 | 2,437 | 10,788 | 6,636 | 2,165 | 14,209 | 15,339 | ||||||||||||||||||||||||||||||||||
| Lease financing | 976 | 1,314 | 43 | 918 | 298 | 2,333 | 2,358 | ||||||||||||||||||||||||||||||||||
| Construction real estate | 110 | 0 | 0 | 0 | 245 | 110 | 245 | ||||||||||||||||||||||||||||||||||
| Commercial real estate | 5,129 | 2,484 | 29 | 433 | 3,105 | 7,642 | 3,105 | ||||||||||||||||||||||||||||||||||
| Residential real estate | 11 | 84 | 127 | 151 | 0 | 222 | 16 | ||||||||||||||||||||||||||||||||||
| Home equity | 137 | 262 | 119 | 95 | 92 | 518 | 278 | ||||||||||||||||||||||||||||||||||
| Installment | 676 | 1,034 | 1,058 | 1,197 | 1,194 | 2,768 | 3,635 | ||||||||||||||||||||||||||||||||||
| Credit card | 520 | 704 | 496 | 729 | 577 | 1,720 | 1,540 | ||||||||||||||||||||||||||||||||||
| Total gross charge-offs | 8,543 | 8,319 | 12,660 | 10,159 | 7,676 | 29,522 | 26,516 | ||||||||||||||||||||||||||||||||||
| Recoveries | |||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | 387 | 463 | 100 | 264 | 202 | 950 | 687 | ||||||||||||||||||||||||||||||||||
| Lease financing | 0 | 114 | 23 | 201 | 291 | 137 | 331 | ||||||||||||||||||||||||||||||||||
| Construction real estate | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||
| Commercial real estate | 8 | 8 | 28 | 5 | 1,138 | 44 | 1,232 | ||||||||||||||||||||||||||||||||||
| Residential real estate | 24 | 18 | 30 | 13 | 58 | 72 | 124 | ||||||||||||||||||||||||||||||||||
| Home equity | 60 | 157 | 116 | 117 | 94 | 333 | 312 | ||||||||||||||||||||||||||||||||||
| Installment | 688 | 660 | 598 | 682 | 609 | 1,946 | 1,888 | ||||||||||||||||||||||||||||||||||
| Credit card | 139 | 162 | 135 | 108 | 66 | 436 | 230 | ||||||||||||||||||||||||||||||||||
| Total recoveries | 1,306 | 1,582 | 1,030 | 1,390 | 2,458 | 3,918 | 4,804 | ||||||||||||||||||||||||||||||||||
| Total net charge-offs | 7,237 | 6,737 | 11,630 | 8,769 | 5,218 | 25,604 | 21,712 | ||||||||||||||||||||||||||||||||||
| Ending allowance for credit losses | $ | 191,650 | $ | 189,912 | $ | 183,716 | $ | 186,487 | $ | 161,916 | $ | 191,650 | $ | 161,916 | |||||||||||||||||||||||||||
| NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED) | |||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | 0.05 | % | 0.17 | % | 0.91 | % | 0.59 | % | 0.20 | % | 0.37 | % | 0.51 | % | |||||||||||||||||||||||||||
| Lease financing | 0.58 | % | 0.74 | % | 0.01 | % | 0.46 | % | 0.00 | % | 0.45 | % | 0.46 | % | |||||||||||||||||||||||||||
| Construction real estate | 0.07 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.14 | % | 0.02 | % | 0.04 | % | |||||||||||||||||||||||||||
| Commercial real estate | 0.45 | % | 0.22 | % | 0.00 | % | 0.04 | % | 0.20 | % | 0.22 | % | 0.06 | % | |||||||||||||||||||||||||||
| Residential real estate | 0.00 | % | 0.01 | % | 0.02 | % | 0.03 | % | (0.02) | % | 0.01 | % | (0.01) | % | |||||||||||||||||||||||||||
| Home equity | 0.03 | % | 0.04 | % | 0.00 | % | (0.01) | % | 0.00 | % | 0.02 | % | (0.01) | % | |||||||||||||||||||||||||||
| Installment | (0.03) | % | 0.94 | % | 1.12 | % | 1.25 | % | 2.03 | % | 0.69 | % | 1.95 | % | |||||||||||||||||||||||||||
| Credit card | 2.11 | % | 3.03 | % | 2.13 | % | 3.56 | % | 2.97 | % | 2.42 | % | 2.60 | % | |||||||||||||||||||||||||||
| Total net charge-offs | 0.21 | % | 0.20 | % | 0.35 | % | 0.27 | % | 0.18 | % | 0.25 | % | 0.25 | % | |||||||||||||||||||||||||||
| COMPONENTS OF NONACCRUAL LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS | |||||||||||||||||||||||||||||||||||||||||
| Nonaccrual loans | |||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | $ | 21,127 | $ | 20,305 | $ | 22,576 | $ | 27,461 | $ | 23,832 | $ | 21,127 | $ | 23,832 | |||||||||||||||||||||||||||
| Lease financing | 1,459 | 7,558 | 5,857 | 5,660 | 5,885 | 1,459 | 5,885 | ||||||||||||||||||||||||||||||||||
| Construction real estate | 351 | 698 | 715 | 1,120 | 1,120 | 351 | 1,120 | ||||||||||||||||||||||||||||||||||
| Commercial real estate | 53,870 | 44,404 | 49,481 | 45,590 | 24,443 | 53,870 | 24,443 | ||||||||||||||||||||||||||||||||||
| Residential real estate | 18,358 | 18,260 | 17,439 | 18,302 | 16,452 | 18,358 | 16,452 | ||||||||||||||||||||||||||||||||||
| Home equity | 4,093 | 4,095 | 3,687 | 2,927 | 3,567 | 4,093 | 3,567 | ||||||||||||||||||||||||||||||||||
| Installment | 952 | 832 | 786 | 748 | 652 | 952 | 652 | ||||||||||||||||||||||||||||||||||
| Total nonaccrual loans | 100,210 | 96,152 | 100,541 | 101,808 | 75,951 | 100,210 | 75,951 | ||||||||||||||||||||||||||||||||||
| Other real estate owned (OREO) | 160 | 174 | 238 | 184 | 111 | 160 | 111 | ||||||||||||||||||||||||||||||||||
| Total nonperforming assets | 100,370 | 96,326 | 100,779 | 101,992 | 76,062 | 100,370 | 76,062 | ||||||||||||||||||||||||||||||||||
| Accruing loans past due 90 days or more | 937 | 650 | 1,366 | 411 | 592 | 937 | 592 | ||||||||||||||||||||||||||||||||||
| Total underperforming assets | $ | 101,307 | $ | 96,976 | $ | 102,145 | $ | 102,403 | $ | 76,654 | $ | 101,307 | $ | 76,654 | |||||||||||||||||||||||||||
| Total classified assets | $ | 281,407 | $ | 226,826 | $ | 232,368 | $ | 235,451 | $ | 218,794 | $ | 281,407 | $ | 218,794 | |||||||||||||||||||||||||||
| CREDIT QUALITY RATIOS | |||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses to | |||||||||||||||||||||||||||||||||||||||||
| Nonaccrual loans | 191.25 | % | 197.51 | % | 182.73 | % | 183.18 | % | 213.18 | % | 191.25 | % | 213.18 | % | |||||||||||||||||||||||||||
| Total ending loans | 1.38 | % | 1.38 | % | 1.36 | % | 1.39 | % | 1.38 | % | 1.38 | % | 1.38 | % | |||||||||||||||||||||||||||
| Nonaccrual loans to total loans | 0.72 | % | 0.70 | % | 0.75 | % | 0.76 | % | 0.65 | % | 0.72 | % | 0.65 | % | |||||||||||||||||||||||||||
| Nonperforming assets to | |||||||||||||||||||||||||||||||||||||||||
| Ending loans, plus OREO | 0.72 | % | 0.70 | % | 0.75 | % | 0.76 | % | 0.65 | % | 0.72 | % | 0.65 | % | |||||||||||||||||||||||||||
| Total assets | 0.45 | % | 0.43 | % | 0.44 | % | 0.48 | % | 0.41 | % | 0.45 | % | 0.41 | % | |||||||||||||||||||||||||||
| Classified assets to total assets | 1.26 | % | 1.01 | % | 1.02 | % | 1.11 | % | 1.18 | % | 1.26 | % | 1.18 | % | |||||||||||||||||||||||||||
10
| FIRST FINANCIAL BANCORP. | |||||||||||||||||||||||||||||||||||||||||
| CAPITAL ADEQUACY | |||||||||||||||||||||||||||||||||||||||||
| (Dollars in thousands, except per share data) | |||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||||||||
| Three Months Ended, | Nine months ended, | ||||||||||||||||||||||||||||||||||||||||
| Sep. 30 | June 30, | Mar. 31, | Dec. 31, | Sep. 30, | Sep. 30, | Sep. 30, | |||||||||||||||||||||||||||||||||||
| 2026 | 2026 | 2026 | 2025 | 2025 | 2026 | 2025 | |||||||||||||||||||||||||||||||||||
| PER COMMON SHARE | |||||||||||||||||||||||||||||||||||||||||
| Market Price | |||||||||||||||||||||||||||||||||||||||||
| High | $ | 36.18 | $ | 33.90 | $ | 31.16 | $ | 26.98 | $ | 26.79 | $ | 36.18 | $ | 29.04 | |||||||||||||||||||||||||||
| Low | $ | 31.22 | $ | 28.06 | $ | 25.09 | $ | 23.26 | $ | 23.55 | $ | 25.09 | $ | 22.05 | |||||||||||||||||||||||||||
| Close | $ | 31.32 | $ | 33.83 | $ | 27.88 | $ | 25.02 | $ | 25.25 | $ | 31.32 | $ | 25.25 | |||||||||||||||||||||||||||
| Average shares outstanding - basic | 103,962,646 | 103,938,322 | 103,705,269 | 96,724,148 | 94,889,341 | 103,869,688 | 94,799,411 | ||||||||||||||||||||||||||||||||||
| Average shares outstanding - diluted | 105,000,875 | 104,936,741 | 104,615,405 | 97,593,800 | 95,753,798 | 104,852,419 | 95,674,093 | ||||||||||||||||||||||||||||||||||
| Ending shares outstanding | 105,188,323 | 104,956,458 | 104,932,829 | 98,521,726 | 95,757,250 | 105,188,323 | 95,757,250 | ||||||||||||||||||||||||||||||||||
| Total shareholders' equity | $ | 2,881,482 | $ | 2,987,488 | $ | 2,940,625 | $ | 2,769,216 | $ | 2,631,855 | $ | 2,881,482 | $ | 2,631,855 | |||||||||||||||||||||||||||
| REGULATORY CAPITAL | Preliminary | Preliminary | |||||||||||||||||||||||||||||||||||||||
| Common equity tier 1 capital | $ | 2,093,397 | $ | 2,029,668 | $ | 1,970,561 | $ | 1,798,266 | $ | 1,828,843 | $ | 2,093,397 | $ | 1,828,843 | |||||||||||||||||||||||||||
| Common equity tier 1 capital ratio | 12.54 | % | 12.33 | % | 12.22 | % | 11.32 | % | 12.91 | % | 12.54 | % | 12.91 | % | |||||||||||||||||||||||||||
| Tier 1 capital | $ | 2,139,109 | $ | 2,075,286 | $ | 2,016,070 | $ | 1,843,672 | $ | 1,874,191 | $ | 2,139,109 | $ | 1,874,191 | |||||||||||||||||||||||||||
| Tier 1 ratio | 12.81 | % | 12.61 | % | 12.50 | % | 11.60 | % | 13.23 | % | 12.81 | % | 13.23 | % | |||||||||||||||||||||||||||
| Total capital | $ | 2,643,368 | $ | 2,591,169 | $ | 2,531,334 | $ | 2,457,377 | $ | 2,170,546 | $ | 2,643,368 | $ | 2,170,546 | |||||||||||||||||||||||||||
| Total capital ratio | 15.83 | % | 15.75 | % | 15.70 | % | 15.46 | % | 15.32 | % | 15.83 | % | 15.32 | % | |||||||||||||||||||||||||||
| Total capital in excess of minimum requirement | $ | 890,577 | $ | 863,256 | $ | 837,959 | $ | 788,889 | $ | 683,018 | $ | 890,577 | $ | 683,018 | |||||||||||||||||||||||||||
| Total risk-weighted assets | $ | 16,693,251 | $ | 16,456,311 | $ | 16,127,377 | $ | 15,890,363 | $ | 14,166,935 | $ | 16,693,251 | $ | 14,166,935 | |||||||||||||||||||||||||||
| Leverage ratio | 9.96 | % | 9.66 | % | 9.39 | % | 9.53 | % | 10.50 | % | 9.96 | % | 10.50 | % | |||||||||||||||||||||||||||
| OTHER CAPITAL RATIOS | |||||||||||||||||||||||||||||||||||||||||
| Ending shareholders' equity to ending assets | 12.91 | % | 13.31 | % | 12.91 | % | 13.11 | % | 14.18 | % | 12.91 | % | 14.18 | % | |||||||||||||||||||||||||||
Ending tangible shareholders' equity to ending tangible assets (1) | 7.81 | % | 8.24 | % | 7.87 | % | 7.79 | % | 8.87 | % | 7.81 | % | 8.87 | % | |||||||||||||||||||||||||||
| Average shareholders' equity to average assets | 13.28 | % | 13.18 | % | 13.12 | % | 13.31 | % | 13.87 | % | 13.19 | % | 13.64 | % | |||||||||||||||||||||||||||
Average tangible shareholders' equity to average tangible assets (1) | 8.18 | % | 8.08 | % | 8.01 | % | 7.97 | % | 8.54 | % | 8.09 | % | 8.25 | % | |||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||
11
earnings presentation • Third Quarter 2026 Exhibit 99.2
forward looking statements disclosure 2 Certain statements in this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are not limited to, statements regarding the operations of First Financial Bancorp. and its subsidiaries (the “Company”, “First Financial”, “we”, “us”, or “our”), such as (i) our future operating or financial performance, including revenues, income or loss and earnings per share, (ii) future common stock dividends, (iii) our capital structure, including future capital levels, (iv) our plans, objectives and strategies, and (v) the uncertainties and assumptions that underlie our forward-looking statements. Such statements are often characterized by the use of qualified words (and their derivatives) such as “may,” “will,” “anticipate,” “could,” “should,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “project” and “intend,” as well as words of similar meaning or other statements concerning opinions or judgment of First Financial or their respective management about future events. Forward-looking statements are based on assumptions as of the time they are made and are subject to risks, uncertainties and other factors that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results expressed or implied by such forward-looking statements. Such risks, uncertainties and assumptions include, among others, the following: • economic, market, liquidity, credit, interest rate, operational and technological risks associated with First Financial’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; • pursuit of mergers and acquisitions, including costs or difficulties related to any acquisitions and/or integrations of any acquired companies; • the possibility that any of the anticipated benefits of First Financial’s prior, in process, or contemplated acquisitions will not be realized or will not be realized within the expected time period; • the possibility that any of acquisitions that have not yet been consummated, such as the acquisition of Finward Bancorp, is not consummated for any reason, including the failure to satisfy any closing conditions, termination of a merger agreement by either party, or the failure to receive any required regulatory or shareholder approvals; • 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; • 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.
forward looking statements disclosure 3 These factors are not necessarily all of the factors that could cause First Financial’s actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm the results of First Financial. Although First Financial believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results of First Financial will not differ materially from any projected future results expressed or implied by such forward-looking statements. Additional factors that could cause results to differ materially from those described above can be found in First Financial’s most recent annual report on Form 10-K for the fiscal year ended December 31, 2025, quarterly reports on Form 10-Q, and other documents subsequently filed by First Financial with the Securities Exchange Commission (“SEC”). Investors are cautioned not to rely too heavily on any such forward-looking statements. First Financial urges you to consider all of these risks, uncertainties and other factors carefully in evaluating all such forward-looking statements made by First Financial. Forward-looking statements speak only as of the date they are made, and First Financial undertakes no obligation to update or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. Non-GAAP Financial Measures This presentation contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States (GAAP). Such non-GAAP financial information should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. However, we believe that non-GAAP reporting provides meaningful information and therefore we use it to supplement our GAAP information. We have chosen to provide this supplemental information to investors, analysts and other interested parties to enable them to perform additional analyses of operating results, to illustrate the results of operations giving effect to the non-GAAP adjustments and to provide an additional measure of performance. We believe this information is helpful in understanding the results of operations separate and apart from items that may, or could, have a disproportional positive or negative impact in any given period. For a reconciliation of the differences between the non-GAAP financial measures and the most comparable GAAP measures, please refer to the reconciliation tables in the appendix at the end of this presentation.
forward looking statements disclosure 4 No Offer or Solicitation This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval with respect to the proposed transaction between First Financial and Finward. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Important Additional Information and Where to Find It In connection with the proposed transaction, First Financial filed a Registration Statement on Form S-4 (the “Registration Statement”) with the SEC to register the shares of First Financial capital stock to be issued in connection with the proposed transaction, which became effective with the SEC on September 28, 2026. The Registration Statement includes a proxy statement of Finward and a prospectus of First Financial (the “Proxy Statement/Prospectus”), and First Financial and Finward may file with the SEC other relevant documents concerning the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT FIRST FINANCIAL, FINWARD AND THE PROPOSED TRANSACTION AND RELATED MATTERS. A copy of the Registration Statement, Proxy Statement/Prospectus, as well as other filings containing information about First Financial and Finward, may be obtained, free of charge, at the SEC’s website (www.sec.gov). Copies of documents filed with the SEC by First Financial will be made available free of charge in the "Investor Relations" section of First Financial's website, https://www.bankatfirst.com/about/investor-relations.html. Copies of documents filed with the SEC by Finward will be made available free of charge in the "Investor Relations" section of Finward's website, https://www.investorrelations.ibankpeoples.com. The information on First Financial’s and Finward’s websites is not, and shall not be deemed to be, a part of this communication or incorporated into other filings either First Financial makes with the SEC. Participants in the Solicitation First Financial, Finward and certain of their respective directors, executive officers, management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction between First Financial and Finward. Information concerning First Financial’s participants is set forth in the Proxy Statement, dated April 16, 2026, for First Financial’s 2026 annual meeting of stockholders as filed with the SEC on Schedule 14A. Information concerning Finward’s participants is set forth in the Proxy Statement, dated April 3, 2026, for Finward’s 2026 annual meeting of stockholders as filed with the SEC on Schedule 14A. Additional information regarding the participants in the solicitation of proxies in respect of the proposed transaction and interests of participants of First Financial and Finward in the solicitation of proxies in respect of the proposed transaction is included in the Registration Statement and Proxy Statement/Prospectus to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.
3Q 2026 results 144th Consecutive Quarter of Profitability 5 • EOP assets decreased $125.5 million compared to the linked quarter to $22.3 billion • EOP loans increased $170.2 million compared to the linked quarter to $13.9 billion; 4.9% on an annualized basis • Average deposits increased $52.4 million compared to the linked quarter to $17.7 billion • EOP investment securities decreased $106.2 million compared to the linked quarter • Loan to deposit ratio – 78.6% Balance Sheet Profitability Asset Quality Income Statement Capital • Noninterest income – $77.7 million; $77.6 million as adjusted1 • Noninterest expense – $165.7 million; $156.9 million as adjusted1 • Efficiency ratio – 60.5%. Adjusted1 efficiency ratio – 57.3% • Effective tax rate of 18.2%. Adjusted1 effective tax rate of 18.8% • Net interest income – $196.3 million • Net interest margin of 4.05% on a GAAP basis; 4.07% on a fully tax equivalent basis1 • Net income – $81.2 million or $0.77 per diluted share. Adjusted1 net income – $87.8 million or $0.84 per diluted share • Return on average assets – 1.44%. Adjusted 1 return on average assets – 1.56% • Return on average shareholders’ equity – 10.87%. Adjusted1 return on average shareholders’ equity – 11.76% • Return on average tangible common equity – 18.67%. Adjusted1 return on average tangible common equity – 20.19% • Provision expense – $8.9 million • Net charge-offs – $7.2 million. NCOs / Avg. Loans – 0.21% annualized • Classified Assets / Total Assets – 1.26% • NPA / Total Assets – 0.45% • ACL / Total Loans – 1.38% • Total capital ratio – 15.83% • Tier 1 common equity ratio – 12.54% • Tangible common equity ratio – 7.81%. Adjusted1 tangible common equity ratio – 9.65% • Tangible book value per share – $15.65 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation.
3Q 2026 highlights • Received Federal regulatory approval for Finward acquisition • Expected close 1/1/27; subject to the receipt of state regulatory and Finward shareholder approvals • Strong adjusted1 quarterly earnings driven by robust net interest margin and record adjusted1 noninterest income • Adjusted1 earnings per share – $0.84; 11% increase from the third quarter of 2025 and highest in Company history • Adjusted1 return on assets – 1.56% • Adjusted1 pre-tax, pre-provision return on assets – 2.08% • Adjusted1 return on average tangible common equity – 20.2% • Solid loan growth during the quarter • Total loan balances increased $170.2 million, or 4.9% on an annualized basis, compared to the linked quarter • Quarterly growth driven by C&I, Consumer and Summit • Moderate deposit growth during the quarter • Average deposit balances increased $52.4 million, or 1.2% on an annualized basis • Growth in interest-bearing demand accounts, money market accounts and retail CDs offset a decline in brokered CDs, savings, and noninterest-bearing accounts • Excluding brokered CDs, average deposits increased $144.0 million • Average noninterest bearing deposits were 20.3% of average total deposits • Net interest margin (FTE)¹ of 4.07% increased 9 bps from linked quarter • 4 bp increase in cost of funds • 13 bp increase in asset yields 6 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. .
• Noninterest income of $77.7 million; $77.6 million as adjusted1 • Double digit percentage growth from linked quarter in wealth management income, bankcard income, and client derivative fees • Foreign exchange income increased $4.4 million, or 33.5% from linked quarter • Strong leasing business income of $23.0 million • Adjusted1 noninterest expense of $156.9 million; 5.2% increase from second quarter • Adjustments1 include $7.5 million of acquisition related expenses, $0.8 million of amortization of tax credit investments and $0.6 million of other expenses not expected to recur • Increase from prior quarter driven by higher compensation costs tied to fee income, credit collection costs and healthcare costs • Efficiency ratio of 60.5%; 57.3% as adjusted1 • Credit quality in line with expectations • Total ACL of $209.8 million; provision expense of $8.9 million o Loans and leases - ACL of $191.7 million o 1.38% of total loans o Unfunded Commitments - ACL of $18.2 million • $7.2 million in net charge-offs; 0.21% of loans on an annualized basis • Nonperforming assets increased 2 bps to 0.45% of total assets • Classified assets increased to 1.26% of total assets primarily due to the downgrade of a single ICRE relationship • Capital ratios remain strong despite the significant decline in AOCI • Total capital ratio of 15.83% • Tier 1 common equity of 12.54%; 21 bp increase from linked quarter • Tangible book value of $15.65 • Tangible common equity of 7.81%; 9.65%1 excluding ($387.1) million of AOCI • Board of Directors approved quarterly dividend of $0.26 to be paid in 4Q26 3Q 2026 highlights 7 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. .
As Reported Adjusted 1 As Reported Adjusted 1 Net interest income 196,256$ 196,256$ 190,377$ 190,377$ Provision for credit losses-loans and leases 8,975$ 8,975$ 12,933$ 12,933$ Provision for credit losses-unfunded commitments (72)$ (72)$ (4,743)$ (4,743)$ Noninterest income 77,658$ 77,658$ 73,791$ 73,791$ less: gains (losses) on security transactions - 247 A - (336) A - - A - 3,189 A less: other - (191) A - (986) A Total noninterest income 77,658$ 77,602$ 73,791$ 71,924$ Noninterest expense 165,736$ 165,736$ 161,542$ 161,542$ less: amortization of tax credit investments - 774 A - 669 A less: merger-related expenses - 7,460 A - 11,641 A less: other - 623 A - 129 A Total noninterest expense 165,736$ 156,879$ 161,542$ 149,103$ Income before income taxes 99,275$ 108,076$ 94,436$ 105,008$ Income tax expense 18,093$ 18,093$ 17,980$ 17,980$ plus: after-tax impact of tax credit investment @ 21% - 331 - 918 plus: tax effect of adjustments (A) @ 21% statutory rate - 1,848 - 2,220 Total income tax expense 18,093$ 20,272$ 17,980$ 21,118$ Net income 81,182$ 87,804$ 76,456$ 83,890$ Net earnings per share - diluted 0.77$ 0.84$ 0.73$ 0.80$ Pre-tax, pre-provision return on average assets 1.92% 2.08% 1.84% 2.03% 3Q 2026 2Q 2026 less: gain on bargain purchase adjusted net income1 8 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. All dollars shown in thousands, except per share amounts The table below lists certain adjustments that the Company believes are significant to understanding its quarterly performance.
profitability 9 Return on Average Assets Return on Avg Tangible Common Equity Diluted EPS 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation. Adjusted1 Pre-tax, Pre-Provision Earnings $0.77$0.73$0.71$0.64 $0.75 $0.84 $0.80 $0.77 $0.80 $0.76 3Q262Q261Q264Q253Q25 Diluted EPS Adjusted EPS1 1.44%1.37%1.34%1.22% 1.54% 1.56%1.50%1.45%1.52%1.55% 3Q262Q261Q264Q253Q25 ROA Adjusted ROA1 18.67%17.95%17.78%16.27% 19.11% 20.19%19.70%19.22% 20.27%19.29% 3Q262Q261Q264Q253Q25 ROATCE Adjusted ROATCE 1 $117.0$113.2$110.4$109.4$100.7 2.08% 2.03%1.99% 2.14%2.15% 3Q262Q261Q264Q253Q25 Pre-tax, pre-provision earnings Pre-tax, pre-provision ROA1
3.88%3.87%3.82%3.81%3.89% 0.09%0.06%0.07%0.12% 0.13% 0.10%0.05%0.10%0.05% 4.07% 3.98%3.99%3.98%4.02% 3Q262Q261Q264Q253Q25 Base Margin (FTE) Loan Fees Loan Accretion net interest income & margin 10 3Q26 NIM (FTE) Progression All dollars shown in millions 1 1 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation. 1 Net Interest Income 2Q26 3.98% Asset yields/mix 0.08% Loan accretion 0.05% Funding costs/mix -0.04% 3Q26 4.07% $187.2$185.3$181.4 $166.6 $155.4 $4.4$2.8$3.2 $5.2 $5.1 $4.7$2.3$4.9 $2.2 $196.3 $190.4$189.6 $174.0 $160.5 3Q262Q261Q264Q253Q25 Basic NII Loan Fees Loan Accretion Net Interest Margin (FTE)
$13,822$13,619$14,028$12,812$11,806 6.57% 6.45%6.50% 6.68%6.88% 3Q262Q261Q264Q253Q25 Loans Loan Yield average balance sheet 11 All dollars shown in millions 1 Includes loans fees and loan accretion Average Securities Average Loans 1 Average Deposits $4,926$5,080$4,769$3,989$3,552 4.51%4.45%4.42% 4.31%4.31% 3Q262Q261Q264Q253Q25 Investment Securities Investment Securities Yield $17,739$17,687$17,646$15,959$14,512 1.84%1.80%1.83% 1.96% 2.13% 3Q262Q261Q264Q253Q25 Deposits Cost of Deposits
12 Borrowing Capacity • Interest-bearing deposits with other banks of $567 million • Investment securities portfolio: • 99.2% of investment portfolio classified as available-for-sale • $751.9 million of expected cash flow from securities portfolio in next 12 months • $448.0 million of floating rate securities with minimal losses • Portfolio duration of 4.7 years at September 30, 2026 liquidity Cash/Investment Liquidity All dollars shown in thousands Loan to Deposit Ratio $11,715 $13,424 $13,495 $13,735 $13,905$14,433 $16,422 $17,919 $17,583 $17,698 81.2% 81.7% 75.3% 78.1% 78.6% 3Q25 4Q25 1Q26 2Q26 3Q26 EOP Loans EOP Deposits Loans / Deposits Ratio FHLB borrowing availability 1,350,058$ Fed Discount Window availability 788,167 Holding Company LOC 40,000 Brokered CDs/Deposit placement services 3,276,118 Fed funds 1,076,000 Total as of September 30, 2026 6,530,343$
loan portfolio 13 Loan LOB Mix (EOP) Net Loan Change-LOB (Linked Quarter) All dollars shown in millions Total growth/(decline): $170.2 million ICRE $3,776 27% Commercial & Small Business Banking $4,142 30% Oak Street $1,130 8% Summit $1,266 9% Agile $381 3% Consumer $1,305 9% Mortgage $1,905 14% Total $13.9 billion -$26.8 $173.7 -$41.7 $39.6 $4.0 $42.1 -$20.7 ICRE Commercial & Small Business Banking Oak Street Summit Agile Consumer Mortgage
loan concentrations 14 C&I and Owner Occupied CRE Loans by Sector1 Investor CRE Loans by Property Type All dollars shown in millions 1 Excludes Agile Premium Finance • CRE balances were approximately 170% of risk-based capital at September 30th NAICS Sector 9/30/26 % of Total Loans Finance and Insurance $1,334.5 9.6% Manufacturing 1,135.1 8.2% Real Estate and Rental and Leasing 663.7 4.8% Construction 658.5 4.7% Health Care and Social Assistance 379.8 2.7% Professional, Scientific, and Technical Services 371.9 2.7% Wholesale Trade 316.9 2.3% Retail Trade 304.1 2.2% Accommodation and Food Services 293.0 2.1% Transportation and Warehousing 258.1 1.9% Administrative and Support and Waste Management 212.3 1.5% Agriculture, Forestry, Fishing and Hunting 192.1 1.4% Other Services (except Public Administration) 120.4 0.9% Information 105.4 0.8% Utilities 101.3 0.7% Arts, Entertainment, and Recreation 82.4 0.6% Educational Services 59.5 0.4% Public Administration 59.5 0.4% Management of Companies and Enterprises 53.6 0.4% Mining, Quarrying, and Oil and Gas Extraction 51.6 0.4% Other 0.4 0.0% Grand Total $6,754.1 48.6% Property Type 9/30/26 % of Total Loans Residential Multi Family 5+ $1,073.8 7.7% Retail Property 875.4 6.3% Industrial 429.4 3.1% REIT & Other 353.4 2.5% Office 346.2 2.5% Hospital/Nursing Home 274.0 2.0% Land 116.6 0.8% Other Real Estate 81.1 0.6% Hotel 75.9 0.5% Industrial 54.6 0.4% All Business Assets 49.1 0.4% Residential 1-4 Family 46.6 0.3% Grand Total $3,776.1 27.2%
area of focus – NDFI exposure 15 All dollars shown in millions NDFI Private Credit Exposure • Direct Exposure • $135.3 million outstanding • Primarily subscription lines to well- established funds that are either an institutional investor or publicly traded • $210.0 million committed • Loans to NDFI totaled $451.0 million, or 3.2% of the total loan portfolio • 96% of NDFI loans pass rated at 9/30 • Average loan size is $9.4 million; median size is $8.1 million • Exposure primarily contained to Mortgage Credit Intermediaries (primarily REITs) • 58% of total NFDI loans $ in Mill ions % Total Loans NDFI Exposure Summary $451.0 3.2% Mortgage Credit $262.6 1.9% REIT, Mortgage Warehouse Business Credit $135.3 1.0% Securitization Lines Private Equity Funds $29.7 0.2% Subscription Lines Consumer Credit Intermediaries $11.1 0.1% Consumer Credit Lines Other Loans $12.3 0.1% Community Development, Farm Credit Lines
deposits 16 Deposit Product Mix (Avg) 3Q26 Average Deposit Progression All dollars shown in millions Total growth/(decline): $52.4 million Noninterest- bearing $3,609 20% Interest-bearing demand $2,494 14% Savings $1,142 7% Money Market $4,529 26% Retail CDs $2,546 14% Brokered Deposits $1,245 7% Public Funds $2,174 12% Total $17.7 billion -$22.7 $81.8 -$38.9 $47.5 $83.9 -$91.6 -$7.6 Noninterest-bearing Interest-bearing demand Savings Money Market Retail CDs Brokered Deposits Public Funds
average deposit trends 17 All dollars shown in millions Average Deposit Balances Uninsured Deposits $16,369$16,214$16,061 $14,424 $13,000 3Q262Q261Q264Q253Q25 Uninsured deposits (per call report instructions) 7,577$ Less: Public funds 2,002 Less: Intercompany deposits 532 Adjusted uninsured deposits 5,043 Borrowing capacity 6,530 Borrowing capacity in excess of adjusted uninsured deposits $ 1,487 Borrowing capacity as a % of adjusted uninsured deposits 129.5% Adjusted uninsured deposits to total deposits 28.5%
noninterest income 18 Noninterest Income 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. 3Q26 Highlights • Adjusted1 noninterest income 28% of net revenue • Foreign exchange income increased $4.4 million, or 33.5%, from second quarter to $17.5 million • Wealth management fees of $9.1 million increased $0.9 million, or 10.7%, compared to the second quarter • Client derivative fee income increased $1.1 million, or 74.0%, from the linked quarter to $2.5 million • Bankcard income of $3.9 million increased $0.8 million, or 27.4%, compared to the second quarter • Leasing business income increased $0.2 million, or 1.0%, from the linked quarter to $23.0 million All dollars shown in millions Service Charges $9.0 12% Wealth Mgmt $9.1 12% Bankcard $3.9 5% Client derivative fees $2.5 3% Foreign exchange $17.5 22% Leasing business $23.0 30% Mortgage banking $5.7 7% Other $7.0 9% Total $77.7 million $77.6 million as adjusted 1
noninterest expense 19 Noninterest Expense 3Q26 Highlights 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. All dollars shown in millions • Adjusted1 noninterest expense increased $7.8 million, or 5.2% from linked quarter • Efficiency ratio of 60.5%; 57.3% as adjusted1 • Increase driven by compensation costs tied to fee income, as well as increases in credit collection and healthcare costs • $8.9 million of adjustments1 include: • $7.5 million of acquisition related expenses • $0.8 million of amortization of tax credit investments • $0.6 million of other costs not expected to recur Full-time Equivalent Employees 2 Includes 169 FTE from Westfield acquisition 3 Includes 156 FTE from BankFinancial acquisition in 1Q and 154 FTE in 2Q 2 3 Efficiency Ratio Salaries and benefits $94.4 57% Occupancy and equipment $12.4 7%Data processing $12.7 8% Professional services $3.6 2% Intangible amortization $6.2 4% Leasing business expense $14.3 9% Other $22.1 13% Total: $165.7 million 2,251 2,371 2,319 2,164 1,986 3Q262Q261Q264Q253Q25 Full-time equivalent employees 2 3 3 57.4% 62.6% 62.4% 61.2% 60.5% 57.0% 56.5% 58.4% 56.8% 57.3% 3Q25 4Q25 1Q26 2Q26 3Q26 Efficiency Ratio Adjusted Efficiency Ratio 1
allowance for credit losses 20 3Q26 Highlights All dollars shown in millions • $209.8 million combined ACL; $8.9 million combined provision expense • $191.7 million ACL – loans and leases • ACL 1.38% of total loans; unchanged from second quarter • Utilized Moody’s September baseline forecast in quantitative model • $18.2 million ACL – unfunded commitments ACL / Total Loans $161.9 $186.5 $183.7 $189.9 $191.7 $17.6 $20.2 $23.0 $18.3 $18.2 $179.5 $206.7 $206.7 $208.2 $209.8 1.38% 1.39% 1.36% 1.38% 1.38% 3Q25 4Q25 1Q26 2Q26 3Q26 ACL-loans and leases ACL-unfunded commitments ACL / Total Loans
asset quality 21 Classified Assets / Total Assets 1 Provision includes both loans & leases and unfunded commitments All dollars shown in millions Nonperforming Assets / Total Assets Net Charge Offs & Provision Expense1 $6.0 $5.2 $8.8 $11.6 $6.7 $9.8 $9.1 $10.1 $8.5 $8.2 0.20% 0.35% 0.27% 0.18% 0.21% 2Q25 3Q25 4Q25 1Q26 2Q26 NCOs Provision Expense NCOs / Average Loans $5.2 $8.8 $11.6 $6.7 7 2 $9.1 $10.1 $8.5 $8.2 .9 0.21%0.20% 0.35% 0.27% 0.18% 3 4 1 6 2 3 $281.4 $226.8$232.4$235.5 $218.8 1.26% 1.01%1.02% 1.11%1.18% 3Q262Q261Q264Q253Q25 Classified Assets Classified Assets / Total Assets $100.4$96.3$100.8$102.0 $76.1 0.45%0.43%0.44%0.48%0.41% 3Q262Q261Q264Q253Q25 NPAs NPAs / Total Assets
capital 22 Tangible Common Equity Ratio 9/30 Risk Weighted Assets = $16,693,251 All capital numbers are considered preliminary. 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation. Adjusted TCE excludes impact from AOCI Tier 1 Common Equity Ratio 8.87% 7.79% 7.87% 8.24% 7.81% 10.15% 8.74% 8.88% 9.30% 9.65% 3Q25 4Q25 1Q26 2Q26 3Q26 TCE ratio Adjusted TCE ratio 1 12.54%12.33%12.22% 11.32% 12.91% 7.00% 3Q262Q261Q264Q253Q25 Tier 1 Common Equity Ratio Basel III minimum 12.81%12.61%12.50% 11.60% 13.23% 8.50% 3Q262Q261Q264Q253Q25 Tier 1 Capital Ratio Basel III minimum Tier 1 Capital Ratio 15.83%15.75%15.70%15.46%15.32% 10.50% 3Q262Q261Q264Q253Q25 Total Capital Ratio Basel III minimum Total Capital Ratio
capital strategy 23 Strategy & DeploymentTangible Book Value Per Share • 3.3% annualized dividend yield as of September 30th • 34% of 3Q26 earnings returned to shareholders through common dividend • Most recent internal stress testing indicates capital ratios above regulatory minimums in all modeled scenarios • No shares repurchased in 3Q26 • Common dividend of $0.26• Decrease in TBV per share from linked quarter driven by unrealized losses on the investment portfolio 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation. Adjusted TBV excludes impact from AOCI $16.19 $15.74 $16.15 $16.64 $15.65 $18.52 $17.67 $18.23 $18.78 $19.33 3Q25 4Q25 1Q26 2Q26 3Q26 Tangible Book Value per Share TBV per share-adjusted 1
outlook commentary1 • Loan balances expected to increase low to mid single digits on an annualized basis • Core deposit balances expected to increase low single digits 24 • Total noninterest expense expected to be $150 - 153 million • Incentive expense will fluctuate with fee income Noninterest Expense Net Interest Margin Balance Sheet Credit • Stable credit costs expected • Stable ACL coverage as a percentage of loans expected Noninterest Income • Total expected fee income of $75 - 78 million • Includes $18 - 20 million foreign exchange • Includes $21 - 23 million leasing business income 1 See Forward Looking Statement Disclosure on page 2-4 of this presentation for a discussion of factors that could affect management’s expectations and results in future periods. • Expected to be 4.08% - 4.12%; assumes 25 bp December rate hike • Includes 6 bps of loan accretion income; compared to 10 bps in Q3 Capital • Common dividend unchanged at $0.26 Noninterest Expense Net Inte argin Bala eet it Noninterest Income
appendix: non-GAAP to GAAP reconciliation 25 All dollars shown in thousands Net interest income and net interest margin - fully tax equivalent Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, 2026 2026 2026 2025 2025 Net interest income 196,256$ 190,377$ 189,610$ 173,995$ 160,486$ Tax equivalent adjustment 1,114 1,161 1,186 1,227 1,248 Net interest income - tax equivalent 197,370$ 191,538$ 190,796$ 175,222$ 161,734$ Average earning assets 19,247,365$ 19,304,416$ 19,393,679$ 17,448,460$ 15,968,153$ Net interest margin1 4.05 % 3.96 % 3.97 % 3.96 % 3.99 % Net interest margin (fully tax equivalent)1 4.07 % 3.98 % 3.99 % 3.98 % 4.02 % Three months ended 1 Margins are calculated using net interest income annualized divided by average earning assets. The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% tax rate. Management believes that it is a standard practice in the banking industry to present net interest margin and 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.
appendix: non-GAAP to GAAP reconciliation 26 All dollars shown in thousands Additional non-GAAP ratios Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, (Dollars in thousands, except per share data) 2026 2026 2026 2025 2025 Net income (a) 81,182$ 76,456$ 74,445$ 62,393$ 71,923$ Average total shareholders' equity 2,963,270 2,951,237 2,947,585 2,695,581 2,575,203 Less: Goodw ill (1,099,934) (1,099,742) (1,099,543) (1,069,781) (1,007,656) Other intangibles (138,310) (143,403) (149,631) (104,184) (74,448) Average tangible equity (b) 1,725,026 1,708,092 1,698,411 1,521,616 1,493,099 Total shareholders' equity 2,881,482 2,987,488 2,940,625 2,769,216 2,631,855 Less: Goodw ill (1,099,936) (1,099,936) (1,099,543) (1,099,524) (1,007,656) Other intangibles (135,077) (140,705) (145,927) (118,832) (73,797) Ending tangible common equity (c) 1,646,469 1,746,847 1,695,155 1,550,860 1,550,402 Less: AOCI (387,095) (223,720) (217,430) (189,942) (223,000) Adjusted ending tangible common equity (d) 2,033,564 1,970,567 1,912,585 1,740,802 1,773,402 Total assets 22,314,155 22,439,679 22,779,815 21,129,379 18,554,506 Less: Goodw ill (1,099,936) (1,099,936) (1,099,543) (1,099,524) (1,007,656) Other intangibles (135,077) (140,705) (145,927) (118,832) (73,797) Ending tangible assets (e) 21,079,142 21,199,038 21,534,345 19,911,023 17,473,053 Risk-w eighted assets (f) 16,693,251 16,456,311 16,127,377 15,890,363 14,166,935 Total average assets 22,321,112 22,391,439 22,459,721 20,256,539 18,566,188 Less: Goodw ill (1,099,934) (1,099,742) (1,099,543) (1,069,781) (1,007,656) Other intangibles (138,310) (143,403) (149,631) (104,184) (74,448) Average tangible assets (g) 21,082,868$ 21,148,294$ 21,210,547$ 19,082,574$ 17,484,084$ Ending shares outstanding (h) 105,188,323 104,956,458 104,932,829 98,521,726 95,757,250 Ratios Return on average tangible shareholders' equity (a)/(b) 18.67% 17.95% 17.78% 16.27% 19.11% Ending tangible common equity as a percent of: Ending tangible assets (c)/(e) 7.81% 8.24% 7.87% 7.79% 8.87% Risk-w eighted assets (c)/(f) 9.86% 10.62% 10.51% 9.76% 10.94% Adjusted ending tangible common equity to ending tangible assets (d)/(e) 9.65% 9.30% 8.88% 8.74% 10.15% Average tangible equity as a percent of average tangible assets (b)/(g) 8.18% 8.08% 8.01% 7.97% 8.54% Tangible book value per share (c)/(h) 15.65$ 16.64$ 16.15$ 15.74$ 16.19$ Adjusted tangible book value per share (d)/(h) $ 19.33 $ 18.78 $ 18.23 $ 17.67 $ 18.52 Three months ended,
appendix: non-GAAP to GAAP reconciliation 27 All dollars shown in thousands Additional non-GAAP measures 1Q26 4Q25 As Reported Adjusted As Reported Adjusted As Reported Adjusted As Reported Adjusted Net interest income (f) 196,256$ 196,256$ 190,377$ 190,377$ 189,610$ 189,610$ 173,995$ 173,995$ Provision for credit losses-loans and leases (j) 8,975 8,975 12,933 12,933 6,030 6,030 9,688 9,688 Provision for credit losses-unfunded commitments (j) (72) (72) (4,743) (4,743) 2,510 2,510 412 412 Noninterest income 77,658 77,658 73,791 73,791 81,906 81,906 64,767 64,767 less: gains (losses) on security transactions 247 (336) (1,260) (12,576) less: gain on bargain purchase - 3,189 8,892 - less: other (191) (986) (1,371) - Total noninterest income (g) 77,658 77,602 73,791 71,924 81,906 75,645 64,767 77,343 Noninterest expense 165,736 165,736 161,542 161,542 169,408 169,408 149,531 149,531 less: amortization of tax credit investments 774 669 669 800 less: merger-related expenses 7,460 11,641 14,257 5,658 less: Other 623 129 (357) 1,177 Total noninterest expense (e) 165,736 156,879 161,542 149,103 169,408 154,839 149,531 141,896 Income before income taxes (i) 99,275 108,076 94,436 105,008 93,568 101,876 79,131 99,342 Income tax expense 18,093 18,093 17,980 17,980 19,123 19,123 16,738 16,738 plus: tax effect of adjustments 1,848 2,220 1,745 4,244 plus: after-tax impact of tax credit investments @ 21% 331 918 528 632 Total income tax expense (h) 18,093 20,272 17,980 21,118 19,123 21,396 16,738 21,614 Net income (a) 81,182$ 87,804$ 76,456$ 83,890$ 74,445$ 80,480$ 62,393$ 77,728$ Average diluted shares (b) 105,001 105,001 104,937 104,937 104,615 104,615 97,594 97,594 Average assets (c) 22,321,112 22,321,112 22,391,439 22,391,439 22,459,721 22,459,721 20,256,539 20,256,539 Average shareholders' equity (k) 2,963,270 2,963,270 2,951,237 2,951,237 2,947,585 2,947,585 2,695,581 2,695,581 Less: Goodwill and other intangibles (1,238,244) (1,238,244) (1,243,145) (1,243,145) (1,249,174) (1,249,174) (1,173,965) (1,173,965) Average tangible equity (d) 1,725,026 1,725,026 1,708,092 1,708,092 1,698,411 1,698,411 1,521,616 1,521,616 Ratios Net earnings per share - diluted (a)/(b) 0.77$ 0.84$ 0.73$ 0.80$ 0.71$ 0.77$ 0.64$ 0.80$ Return on average assets - (a)/(c) 1.44% 1.56% 1.37% 1.50% 1.34% 1.45% 1.22% 1.52% Pre-tax, pre-provision return on average assets - ((a)+(j)+(h))/(c) 1.92% 2.08% 1.84% 2.03% 1.84% 1.99% 1.75% 2.14% Return on average shareholders' equity (a)/(k) 10.87% 11.76% 10.39% 11.40% 10.24% 11.07% 9.18% 11.44% Return on average tangible shareholders' equity - (a)/(d) 18.67% 20.19% 17.95% 19.70% 17.78% 19.22% 16.27% 20.27% Efficiency ratio - (e)/((f)+(g)) 60.5% 57.3% 61.2% 56.8% 62.4% 58.4% 62.6% 56.5% Effective tax rate - (h)/(i) 18.2% 18.8% 19.0% 20.1% 20.4% 21.0% 21.2% 21.8% (Dollars in thousands, except per share data) 3Q26 2Q26
28 First Financial Bancorp First Financial Center 255 East Fifth Street Cincinnati, OH 45202