TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES ACT OF 1934 Commission File Number 001-34762 FIRST FINANCIAL BANCORP. (Exact name of registrant as specified in its charter) | Ohio 31-1042001 | | | | | --- | --- | --- | --- | | (State of incorporation) (I.R.S. Employer | | | | | Identificatio ...

来源：经济观察网 公司2025年第四季度财报数据显示，收入为2.28亿美元（同比增长24.47%），净收入6239.30万美元 （同比下滑3.84%），每股收益0.80美元（同比增长12.68%）。定期财报发布属常规关注事项。 以上内容基于公开资料整理，不构成投资建议。 业绩经营情况 经济观察网 第一金融银行（First Financial Bancorp，股票代码FFBC）近期最值得关注的事件是对 BankFinancial的收购交易。根据公告，该交易已获得美联储和俄亥俄州金融机构部的监管批准，预计于 2026年1月1日或前后完成。截至2026年2月15日，该事件可能已处于完成或整合阶段，后续进展如业务 整合效果值得跟踪。 ...

Group 1 - The core focus of the news is the acquisition progress of BankFinancial by First Financial Bank, which was initially expected to be completed around January 1, 2026, but has now surpassed that date, raising market interest in the final completion status and future arrangements [1] - The acquisition has received approval from the Federal Reserve and the Ohio Department of Financial Institutions, and it is a stock transaction valued at approximately $142 million [1] Group 2 - In terms of stock performance, First Financial Bank's stock showed slight fluctuations over the past week, closing at $30.12 on February 12, 2026, with a daily decline of 1.08% [2] - Over the last five days, the stock has increased by 0.20%, with a price range fluctuation of 5.72% [2] - The trading volume was relatively active initially but decreased, with a trading volume of approximately $8.64 million on February 12, 2026, indicating a relatively quiet trading environment [2] - During the same period, the banking sector overall declined by 1.16%, while First Financial Bank's stock performance was slightly better than the sector average [2]

Core Viewpoint - The recent focus for First Financial Bank is the progress of its acquisition of BankFinancial, as the completion date has surpassed the original expectations, raising questions about the final outcome and subsequent arrangements [1]. Recent Events - First Financial Bank announced on December 15, 2025, that it has received regulatory approval from the Federal Reserve and the Ohio Department of Financial Institutions to complete the acquisition of BankFinancial. The acquisition is a stock transaction valued at approximately $142 million as of the signing date of the merger agreement [2]. - The company had previously anticipated that the transaction would be completed around January 1, 2026, depending on customary closing conditions and the approval of BankFinancial's shareholders [2].

Core Insights - The article discusses the Q4 earnings season for regional banks, focusing on First Financial Bancorp (FFBC) as a dividend growth name [2] - BAD BEAT Investing, led by Quad 7 Capital, has a team of 7 analysts with nearly 12 years of experience in identifying investment opportunities [2] - The group emphasizes teaching investors to become proficient traders while providing in-depth research and clear entry and exit targets [2] Group 1 - BAD BEAT Investing has been predominantly long (95%) since May 2020, with a notable call to sell everything and go short in February 2020 [2] - The organization focuses on short- and medium-term investments, income generation, special situations, and momentum trades [2] - Benefits of joining BAD BEAT Investing include access to multiple chat rooms, daily analyst summaries, and learning basic options trading [2] Group 2 - The analysts at BAD BEAT Investing have expertise in various fields including business, policy, economics, mathematics, game theory, and sciences [2] - The group aims to save time for investors by providing high-quality research and well-researched trade ideas each week [2] - The article highlights the importance of understanding market dynamics and executing well-researched trades [2]

Core Insights - First Financial Bancorp reported record-setting fourth-quarter and full-year 2025 results, showcasing strong profitability metrics and resilient net interest margin performance despite lower short-term rates [4][3][16] Financial Performance - Adjusted earnings per share for the fourth quarter reached $0.80, with an adjusted return on assets of 1.52% and an adjusted return on tangible common equity of 20.3% [3][7] - Full-year 2025 adjusted net income was $281 million, or $2.92 per share, with record revenue totaling almost $922 million, an 8% increase from 2024 [16] Balance Sheet Growth - Total loan balances increased by $1.7 billion during the quarter, primarily due to the Westfield acquisition, which contributed $1.6 billion [1][6] - Total deposit balances rose by $2 billion, including $1.8 billion from Westfield, with organic growth of $264 million [8] Net Interest Margin - The net interest margin (NIM) was reported at 3.98%, slightly down from the previous quarter, with guidance for first-quarter 2026 NIM expected to be between 3.94% and 3.99% [2][7] Fee Income - Adjusted fee income reached a record $77.3 million for the quarter, up 5% from the prior quarter, with expectations for first-quarter fee income between $71 million and $73 million [5][9][18] Expenses and Integration Costs - Adjusted non-interest expenses increased by approximately 6% from the prior quarter, largely due to acquisition-related costs, with first-quarter expense guidance set at $156 million to $158 million [10][11] Credit Quality and Capital - Asset quality remained stable, with non-performing assets at 0.48% of total assets and a total allowance of $207 million, including $26 million for the Westfield portfolio [13][14] - Tangible book value at quarter-end was $15.74, with a tangible common equity ratio of 7.79% [15] Growth Outlook - The company anticipates low single-digit organic loan growth in the first quarter and expects full-year loan growth of 6% to 8% [17] - Management highlighted growth initiatives in Grand Rapids and Chicago, focusing on expanding banking services and resources [19]

Financial Data and Key Metrics Changes - Adjusted earnings per share for Q4 2025 were $0.80, with an adjusted return on assets of 1.52% and an adjusted return on tangible common equity of 20.3% [4][12] - The net interest margin slightly declined to 3.98% from 4.05% year-over-year, but funding costs decreased, mitigating the impact of short-term rate reductions [7][12] - Total adjusted fee income reached a record $77 million, a 5% increase from the previous quarter [5][14] - For the full year 2025, adjusted net income was $281 million, or $2.92 per share, with record revenue of nearly $922 million, an 8% increase over 2024 [6][7] Business Line Data and Key Metrics Changes - Loan growth for Q4 was 4% on an annualized basis, with total average deposits increasing by approximately 7% [4][9] - Non-interest income for the year increased by 16% to a record $280 million, driven by growth in wealth management, foreign exchange, and mortgage income [7][8] - Adjusted non-interest expenses increased by 6% from the linked quarter, primarily due to the Westfield acquisition [5][10] Market Data and Key Metrics Changes - The company maintained 21% of total balances in non-interest-bearing accounts, focusing on growing lower-cost deposit balances [10] - Total deposit balances increased by $2 billion, including $1.8 billion from the Westfield acquisition, with organic growth of $264 million [9][10] Company Strategy and Development Direction - The company plans to achieve organic loan growth of 6%-8% for the full year 2026, with expectations of easing payoff pressure in Q1 [16][17] - The company is expanding its presence in Grand Rapids, Michigan, with plans to establish a full banking office and add mortgage services [32][64] - The company aims to enhance its wealth management services in Northeast Ohio, following the acquisition of Westfield [76] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining a strong net interest margin and expects it to remain among the highest in the peer group [16] - The company anticipates credit costs in Q1 to approximate Q4 levels, with stable allowance for credit losses coverage [17] - Management highlighted the successful launch of a new banking office and the acquisition of two banking companies as part of their growth strategy [18] Other Important Information - The company issued $300 million of subordinated debt during Q4, with a 10-year maturity and a 6.38% interest rate [10] - Asset quality remained stable, with non-performing assets slightly increasing to 0.48% of total assets [5][11] Q&A Session Summary Question: Fee income guidance for the rest of the year - Management acknowledged seasonality in fee income, particularly in foreign exchange, and expects growth in the latter half of the year [22][24] Question: Growth plans in Grand Rapids - Management detailed the ramp-up of loan commitments and deposit growth in Grand Rapids, with plans for further expansion [30][32] Question: Loan growth outlook - Management confirmed a projected organic loan growth of 6%-8% for the year, excluding acquired balances [38][41] Question: Margin outlook and purchase accounting - Management indicated that the margin would depend on short-term rate movements, with a slight decline expected if rate cuts occur [45][46] Question: Efficiency ratio trends - Management projected the efficiency ratio to be in the mid-50s range, influenced by the integration of recent acquisitions [70][75]

Financial Data and Key Metrics Changes - Adjusted earnings per share for Q4 2025 were $0.80, with an adjusted return on assets of 1.52% and an adjusted return on tangible common equity of 20.3% [4] - The net interest margin slightly declined from the previous quarter but remained resilient at 3.98% [4][12] - Total average deposits increased by approximately 7% on an annualized basis, excluding the impact from the Westfield acquisition [4] - Adjusted net income for the full year 2025 was $281 million, or $2.92 per share, with record revenue of almost $922 million, an 8% increase over 2024 [6][7] Business Line Data and Key Metrics Changes - Total adjusted fee income for Q4 was $77 million, a 5% increase compared to the linked quarter, driven by strong performance in wealth management and foreign exchange [5][14] - Organic loan growth for Q4 was $131 million, or 4% on an annualized basis, primarily driven by Summit and C&I [9][12] - Adjusted non-interest income for the full year increased by 16% to a record $280 million, led by growth in wealth management, foreign exchange, and mortgage income [7] Market Data and Key Metrics Changes - The company maintained 21% of total balances in non-interest-bearing accounts, focusing on growing lower-cost deposit balances [10] - Total deposit balances increased by $2 billion in Q4, including $1.8 billion from the Westfield acquisition [9] Company Strategy and Development Direction - The company plans to achieve low single-digit organic loan growth in Q1 2026, with expectations of 6%-8% loan growth for the full year [16] - The company is focused on integrating the Westfield and BankFinancial acquisitions to realize cost savings and enhance growth opportunities [17][60] - Expansion efforts include launching a banking office in Grand Rapids and strengthening core funding through acquisitions [18][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's performance and outlook for 2026, highlighting strong pipelines and expected loan growth [40][41] - The company anticipates that credit costs will approximate Q4 levels and that ACL coverage will remain stable as a percentage of loans [17] - Management noted the importance of seasonality in fee income and loan origination, with expectations for a ramp-up in the latter half of the year [25][40] Other Important Information - The company issued $300 million of subordinated debt during Q4, with a 10-year maturity and a 6.38% interest rate [10] - Asset quality remained stable, with non-performing assets slightly increasing to 0.48% of total assets [5][11] Q&A Session Summary Question: Fee income guidance for the rest of the year - Management acknowledged seasonality in fee income, particularly in foreign exchange, and expects growth in the latter half of 2026 [22][24] Question: Growth plans in Grand Rapids - Management detailed the establishment of a banking team and plans for further investment in the region, anticipating significant opportunities [30][32] Question: Loan growth outlook - Management confirmed a projected organic loan growth of 6%-8% for the year, excluding acquired balances, with expectations for a strong origination quarter in Q4 2025 [38][41] Question: Efficiency ratio trends - Management indicated that the efficiency ratio is expected to trend in the mid-50s range, influenced by the integration of acquisitions and seasonal factors [70][75]

Financial Data and Key Metrics Changes - Adjusted earnings per share for Q4 2025 were $0.80, with an adjusted return on assets of 1.52% and an adjusted return on tangible common equity of 20.3% [4] - The net interest margin slightly declined to 3.98%, while total average deposits increased by approximately 7% on an annualized basis, excluding the impact from the Westfield acquisition [4][6] - For the full year 2025, adjusted net income was $281 million or $2.92 per share, with record revenue of almost $922 million, an 8% increase over 2024 [6] Business Line Data and Key Metrics Changes - Total adjusted fee income for Q4 was $77 million, a 5% increase compared to the linked quarter, driven by strong performance in wealth management and foreign exchange [5][9] - Non-interest expenses increased by 6% from the linked quarter, primarily due to the Westfield acquisition [5][12] - Adjusted non-interest income for the full year increased by 16% to a record $280 million, led by growth in wealth management, foreign exchange, and mortgage income [6] Market Data and Key Metrics Changes - Loan growth for Q4 was 4% on an annualized basis, with total deposit balances increasing by $2 billion, including $1.8 billion from the Westfield acquisition [8] - The company maintained 21% of total balances in non-interest-bearing accounts, focusing on growing lower-cost deposit balances [8] Company Strategy and Development Direction - The company expects organic loan growth to be in the 6%-8% range for the full year 2026, with a focus on integrating recent acquisitions and expanding in key markets [16][17] - The launch of a new banking office in Grand Rapids and the acquisition of two banking companies are part of the strategy to strengthen core funding and provide a platform for growth in metropolitan markets [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's performance and outlook, anticipating easing payoff pressure and stable credit costs in the first quarter of 2026 [16] - The net interest margin is expected to remain among the highest in the peer group, projected to be between 3.94% and 3.99% over the next quarter [16] Other Important Information - The company issued $300 million of subordinated debt during Q4, with a 10-year maturity and a 6.38% interest rate [8] - Asset quality remained stable, with non-performing assets slightly increasing to 0.48% of assets [5][10] Q&A Session Summary Question: Fee income guidance for the rest of the year - Management acknowledged seasonality in fee income, particularly in foreign exchange, and expects growth in the back half of 2026 [21][24] Question: Growth plans in Grand Rapids - The company has ramped up loan commitments and is planning to establish a full banking office, adding mortgage and wealth banking services [28][30] Question: Loan growth outlook confirmation - Management confirmed that the projected 6%-8% growth is on an organic basis, excluding acquired balances [36][39] Question: Margin outlook and purchase accounting impact - The purchase accounting impact from Westfield is expected to hold at four basis points, with minimal impact from BankFinancial [40][41] Question: Efficiency ratio trends - The efficiency ratio is expected to be in the mid-50 range in the back half of the year, influenced by the integration of acquisitions [65][68]

Core Viewpoint - First Financial Bancorp (FFBC) reported a revenue increase of 6.4% year-over-year for the quarter ended December 2025, but fell short of Wall Street expectations [1] Financial Performance - Revenue for the quarter was $239.99 million, which was a surprise of -3.35% compared to the Zacks Consensus Estimate of $248.3 million [1] - Earnings per share (EPS) was reported at $0.80, an increase from $0.71 in the same quarter last year, resulting in an EPS surprise of +2.56% against the consensus estimate of $0.78 [1] - Net Interest Margin stood at 4%, matching the average estimate from three analysts [4] - Efficiency Ratio was reported at 62.6%, higher than the average estimate of 57.6% from three analysts [4] - Total Noninterest Income was $64.77 million, below the average estimate of $77.63 million from three analysts [4] - Net interest income (tax equivalent) was $175.22 million, slightly above the average estimate of $173 million from two analysts [4] Stock Performance - Shares of First Financial have returned +8.1% over the past month, outperforming the Zacks S&P 500 composite's +0.8% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]