分组1 - First Financial Bancorp (FFBC) reported quarterly earnings of $0.74 per share, exceeding the Zacks Consensus Estimate of $0.69 per share, and up from $0.65 per share a year ago, representing an earnings surprise of +7.25% [1] - The company posted revenues of $227.58 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 3.54%, compared to year-ago revenues of $216.23 million [2] - First Financial has surpassed consensus EPS estimates two times over the last four quarters and has topped consensus revenue estimates two times as well [2] 分组2 - The stock has underperformed the market, losing about 9.5% since the beginning of the year, while the S&P 500 gained 8.1% [3] - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $0.68 for the coming quarter and $2.63 for the current fiscal year [7] - The Zacks Industry Rank for Banks - Midwest is currently in the top 29% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]

[Financial Results Announcement](index=1&type=section&id=First%20Financial%20Bancorp%20Announces%20Second%20Quarter%20and%20Year%20to%20Date%202025%20Financial%20Results%20%26%20Quarterly%20Dividend%20Increase) [Second Quarter 2025 Financial Highlights](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Highlights) First Financial Bancorp achieved record Q2 2025 revenue, with significant sequential growth in net income, EPS, and key profitability metrics Q2 2025 Key Performance Metrics | Metric | Q2 2025 | Q1 2025 | | :--- | :--- | :--- | | Net Income | $70.0 million | $51.3 million | | Diluted EPS | $0.73 | $0.54 | | Adjusted Diluted EPS | $0.74 | - | | Return on Average Assets (ROA) | 1.52% | 1.13% | | Return on Average Tangible Common Equity (ROATCE) | 19.61% | 15.16% | - Achieved record quarterly revenue of **$226.3 million**[4](index=4&type=chunk) - Net interest margin (FTE basis) expanded by **17 basis points** from the first quarter to **4.05%**, driven by a **12 bp** decline in funding costs and a **5 bp** increase in asset yields[4](index=4&type=chunk)[5](index=5&type=chunk) - Noninterest income showed strong growth, with mortgage and bankcard income increasing by **double-digit percentages** from the linked quarter, while leasing business income grew **11.2%** and foreign exchange income grew **9.7%** sequentially[5](index=5&type=chunk) - Loan balances grew by **2%** on an annualized basis, while average deposit balances increased by **3%** annualized during the quarter[5](index=5&type=chunk) [CEO Commentary](index=2&type=section&id=CEO%20Commentary) CEO Archie Brown highlighted record revenue, strong profitability, stable asset quality, and expected higher loan growth in H2 2025, with the Westfield Bank acquisition on track - Record revenue of **$226.3 million** represents a **5%** increase over the same quarter one year ago[7](index=7&type=chunk) - Loan growth was **2%** annualized, with an expectation for higher growth in the second half of the year as commercial real estate loan payoffs subside[7](index=7&type=chunk) - Asset quality was stable, with net charge-offs declining to **21 basis points**, and the outlook for asset quality remains positive, with net charge-offs expected to be in the **20-25 basis point range** for the remainder of the year[7](index=7&type=chunk) - The company is actively engaged in the integration process for the acquisition of Westfield Bank and expects the transaction to close in **2025**[7](index=7&type=chunk) [Dividend and Capital](index=2&type=section&id=Dividend%20and%20Capital) The Board approved a **4.2%** increase in the quarterly common dividend to **$0.25** per share, strengthening capital with a rising TCE ratio and **19%** YoY increase in Tangible Book Value per share - The Board of Directors approved a quarterly dividend increase of **$0.01**, or **4.2%**, to **$0.25** per common share, payable on **September 15, 2025**[6](index=6&type=chunk)[7](index=7&type=chunk) - The dividend payout ratio is approximately **35%** of net income[7](index=7&type=chunk) Capital Position Highlights | Metric | Q2 2025 | Change from Q1 2025 | | :--- | :--- | :--- | | Tangible Common Equity (TCE) Ratio | 8.40% | - | | Tangible Book Value Per Share | $15.40 | +4% | | Total Capital Ratio | 14.98% | +8 bps | | Tier 1 Common Equity Ratio | 12.57% | +28 bps | [Company Overview and Forward-Looking Statements](index=3&type=section&id=Company%20Overview%20and%20Forward-Looking%20Statements) First Financial Bancorp, a Cincinnati-based bank holding company with **$18.6 billion** in assets as of June 30, 2025, provides an overview and disclaimers on non-GAAP measures and forward-looking statements - As of June 30, 2025, the Company had **$18.6 billion** in assets, **$11.8 billion** in loans, **$14.4 billion** in deposits, and **$2.6 billion** in shareholders' equity[16](index=16&type=chunk) - The company operates **128** full-service banking centers in Ohio, Indiana, Kentucky, and Illinois[16](index=16&type=chunk) - The report contains forward-looking statements that are subject to inherent risks and uncertainties, including economic, market, credit, and regulatory risks[12](index=12&type=chunk)[13](index=13&type=chunk) [Selected Financial Information](index=5&type=section&id=Selected%20Financial%20Information) [Consolidated Financial Highlights](index=6&type=section&id=Consolidated%20Financial%20Highlights) Consolidated financial highlights for Q2 2025 show strong performance with **$70.0 million** net income and **$0.73** diluted EPS, significantly improving from Q1 2025, and robust capital ratios Quarterly Performance Comparison | Metric | Q2 2025 | Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Net Income (in thousands) | $69,996 | $51,293 | $60,805 | | Diluted EPS | $0.73 | $0.54 | $0.64 | | Return on Average Assets | 1.52% | 1.13% | 1.38% | | Return on Average Tangible Equity (Non-GAAP) | 19.61% | 15.16% | 20.57% | | Net Interest Margin (FTE) | 4.05% | 3.88% | 4.10% | | Tangible Book Value Per Share (Non-GAAP) | $15.40 | $14.80 | $12.94 | [Consolidated Statements of Income](index=7&type=section&id=Consolidated%20Statements%20of%20Income) Q2 2025 net income reached **$70.0 million**, a **36.5%** sequential increase, driven by a **6.0%** rise in net interest income and a **33.2%** surge in noninterest income, with noninterest expenses well-controlled Income Statement Summary (in thousands) | Line Item | Q2 2025 | Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Net Interest Income | $158,269 | $149,296 | $153,311 | | Provision for Credit Losses | $9,802 | $8,700 | $16,443 | | Noninterest Income | $68,063 | $51,083 | $61,501 | | Noninterest Expenses | $128,671 | $128,076 | $123,574 | | **Net Income** | **$69,996** | **$51,293** | **$60,805** | - Total interest income increased **2.3%** sequentially, while total interest expense decreased **3.8%**, leading to a **6.0%** increase in net interest income[26](index=26&type=chunk) - The **33.2%** sequential increase in noninterest income was primarily due to a **54.7%** rise in net gains from sales of loans and a significant positive swing in net gain/loss on investment securities compared to Q1 2025[26](index=26&type=chunk) [Consolidated Statements of Condition](index=10&type=section&id=Consolidated%20Statements%20of%20Condition) As of June 30, 2025, total assets reached **$18.6 billion** (**1.0%** increase), with loans growing **0.5%** to **$11.8 billion**, deposits increasing **1.2%** to **$14.4 billion**, and shareholders' equity rising **2.3%** to **$2.6 billion** Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | Mar. 31, 2025 | June 30, 2024 | | :--- | :--- | :--- | :--- | | Total Assets | $18,634,255 | $18,455,067 | $18,166,180 | | Net Loans | $11,627,674 | $11,568,648 | $11,365,018 | | Total Deposits | $14,369,993 | $14,196,956 | $13,661,922 | | Total Shareholders' Equity | $2,558,155 | $2,501,235 | $2,326,439 | - Loan growth from the linked quarter was driven by Commercial & Industrial and Home Equity loans, offsetting a decline in Construction real estate loans[31](index=31&type=chunk) - The increase in total deposits was supported by growth in interest-bearing demand, savings, and time deposits[31](index=31&type=chunk) [Net Interest Margin Analysis](index=12&type=section&id=Net%20Interest%20Margin%20Analysis) Q2 2025 net interest margin (FTE) expanded by **17 basis points** to **4.05%**, a significant improvement from Q1 2025, primarily driven by a decrease in funding costs to **2.90%** Net Interest Margin and Component Yields | Metric | Q2 2025 | Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Yield on Earning Assets | 6.24% | 6.19% | 6.68% | | Cost of Interest-Bearing Liabilities | 2.90% | 3.04% | 3.42% | | Net Interest Spread | 3.34% | 3.15% | 3.26% | | **Net Interest Margin** | **4.01%** | **3.84%** | **4.06%** | - The cost of total interest-bearing deposits decreased by **16 basis points** sequentially to **2.70%**[35](index=35&type=chunk) - The linked quarter income variance analysis shows that changes in interest rates contributed a positive **$5.5 million** to net interest income, while volume changes contributed a positive **$3.4 million**[37](index=37&type=chunk) [Credit Quality](index=14&type=section&id=Credit%20Quality) Credit quality remained stable in Q2 2025, with annualized net charge-offs decreasing significantly to **0.21%**, nonperforming assets slightly increasing to **0.41%**, and allowance for credit losses consistent at **1.34%** Key Credit Quality Ratios | Metric | Q2 2025 | Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Net Charge-offs to Avg. Loans (Annualized) | 0.21% | 0.36% | 0.15% | | Nonperforming Assets to Total Assets | 0.41% | 0.32% | 0.35% | | Allowance for Credit Losses to Total Loans | 1.34% | 1.33% | 1.36% | - Total net charge-offs for the quarter were **$6.0 million**, a decrease from **$10.5 million** in Q1 2025[39](index=39&type=chunk) - Total nonaccrual loans increased to **$76.9 million** from **$59.6 million** in the linked quarter, while classified assets remained relatively flat at **$214.3 million**[39](index=39&type=chunk) [Capital Adequacy](index=15&type=section&id=Capital%20Adequacy) The company maintained a strong capital position as of June 30, 2025, with all regulatory capital ratios improving and remaining well above minimum requirements, including a preliminary Common Equity Tier 1 ratio of **12.57%** Regulatory Capital Ratios (Preliminary) | Ratio | June 30, 2025 | Mar. 31, 2025 | June 30, 2024 | | :--- | :--- | :--- | :--- | | Common Equity Tier 1 Ratio | 12.57% | 12.29% | 11.78% | | Tier 1 Ratio | 12.89% | 12.61% | 12.11% | | Total Capital Ratio | 14.98% | 14.90% | 14.47% | | Leverage Ratio | 10.28% | 10.01% | 9.73% | - The company did not repurchase any shares under its publicly announced repurchase program during the three or six months ended June 30, 2025[41](index=41&type=chunk)

Core Viewpoint - First Financial Bancorp reported strong financial results for the second quarter of 2025, with significant increases in net income, revenue, and profitability metrics compared to previous periods [2][5][7]. Financial Performance - For the three months ended June 30, 2025, the company reported net income of $70.0 million, or $0.73 per diluted common share, compared to $51.3 million, or $0.54 per diluted common share in the first quarter of 2025 [2][17]. - The company achieved record revenue of $226.3 million, representing a 5% increase over the same quarter one year ago [5]. - Adjusted earnings per share for the second quarter were $0.74, with a return on average assets of 1.52% and a return on average tangible common equity of 19.61% [7][19]. Asset Quality and Loan Growth - Asset quality remained stable, with net charge-offs declining to 0.21% of total loans, a 15 basis point decrease from the first quarter [5][8]. - Loan growth was reported at 2% on an annualized basis, with broad-based growth in most portfolios, except for commercial real estate [5][8]. Noninterest Income and Expenses - Adjusted noninterest income for the second quarter was $67.8 million, an 11% increase over the linked quarter and a 10% increase over the second quarter of 2024 [5][8]. - Noninterest expenses increased by 1% compared to the first quarter, with adjusted noninterest expenses rising by less than 2% year over year [5][8]. Capital and Dividends - The company’s tangible common equity ratio increased to 8.40%, with tangible book value per share rising to $15.40, a 4% increase from the linked quarter [5][8]. - The Board of Directors approved a quarterly dividend of $0.25 per common share, reflecting a 4.2% increase [4][5]. Future Outlook - The company is optimistic about future loan growth in the second half of 2025 and is actively engaged in the integration process following the announcement of the acquisition of Westfield Bank [5][8].

Group 1 - First Financial Bancorp. will release its second quarter 2025 financial results on July 24, 2025, after market close [1] - A teleconference and webcast to discuss the financial results will take place on July 25, 2025, at 8:30 a.m. Eastern time [1] - The company had $18.5 billion in assets, $11.7 billion in loans, $14.2 billion in deposits, and $2.5 billion in shareholders' equity as of March 31, 2025 [2] Group 2 - First Financial Bancorp. operates through six lines of business: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance, and Wealth Management [2] - The Wealth Management division had approximately $3.7 billion in assets under management as of March 31, 2025 [2] - The company operated 127 full-service banking centers across Ohio, Indiana, Kentucky, and Illinois as of March 31, 2025 [2]

Summary of First Financial Bancorp (FFBC) Conference Call on Acquisition of Westfield Bancorp Company and Industry - **Company**: First Financial Bancorp (FFBC) - **Acquisition Target**: Westfield Bancorp - **Industry**: Banking and Financial Services Core Points and Arguments 1. **Acquisition Announcement**: FFBC announced the acquisition of Westfield Bancorp from Ohio Farmers Insurance Company, enhancing its presence in the Cleveland, Ohio market [2][3] 2. **Financial Impact**: The acquisition will more than triple FFBC's loan commitments in Northeast Ohio to approximately $1.5 billion and add $1.5 billion in local deposits [3][4] 3. **Branch Network and Talent**: The deal provides FFBC with a highly efficient branch network and talent across multiple business lines, positioning it as a premium alternative to larger banks [3][4] 4. **Earnings Accretion**: The acquisition is financially attractive with strong earnings accretion and a tangible book value earn back within acceptable parameters [4][8] 5. **Asset Quality**: Westfield has a strong record regarding asset quality, with net charge-offs averaging four basis points over the last five years, aligning with FFBC's lending and credit administration approach [5][6] 6. **Market Position**: Post-acquisition, FFBC will become the fourth largest Ohio-based banking company and the only community bank among the top eight banks in the state [6][8] 7. **Transaction Structure**: The transaction is structured as approximately 80% cash and 20% stock, with shareholder approval from Ohio Farmers already received [7][8] 8. **Future Growth Opportunities**: FFBC anticipates significant growth opportunities in consumer lending, wealth management, and specialty banking post-acquisition [10][49] Additional Important Content 1. **Cultural Compatibility**: Both companies share a strong commitment to associates, clients, and communities, which is expected to facilitate the integration process [5][6] 2. **Cost Savings and Renovations**: Initial branch renovations are estimated at $800,000, with plans for branding refreshes post-merger [17][18] 3. **NIM Strategy**: FFBC aims to rebuild the net interest margin (NIM) to around 4% by remixing acquired loans and enhancing commercial product offerings [19][20] 4. **Credit Quality**: The acquisition is expected to slightly improve charge-off rates due to Westfield's strong credit history [41][42] 5. **Future Acquisition Appetite**: FFBC remains open to future acquisitions, depending on size and timing, while maintaining a target tangible common equity (TCE) ratio of 7.5% [30][54] 6. **CECL Adoption**: The impact of the new CECL accounting standard is currently uncertain, but it is not expected to significantly affect the acquisition due to Westfield's clean credit profile [61][62] This summary encapsulates the key points discussed during the conference call regarding the acquisition of Westfield Bancorp by First Financial Bancorp, highlighting the strategic, financial, and operational implications of the deal.

Table of Content UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________ to ____________________ Commission file number 001-34762 FIRST FINANCIAL BANCORP /OH/ (Exact name of registrant as specified in its charter) Ohi ...

First Financial Bancorp (FFBC) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system ...

Financial Data and Key Metrics Changes - Adjusted earnings per share was $0.63, with a return on assets of 1.33% and a return on tangible common equity of 17.8% [7] - Net interest margin was strong at 3.88%, a decline of six basis points from the previous quarter [17][24] - Non-interest expenses decreased by 3.3% due to lower incentive compensation and fraud losses [10][31] - Tangible book value per share increased to $14.80, representing a 5% increase from the linked quarter and 18% year-over-year [13][35] Business Line Data and Key Metrics Changes - Loan balances were stable, with first-quarter loan production being seasonally lower [8] - Fee income was $61 million, a decline from the linked quarter due to seasonal fluctuations and less foreign exchange income [9][19] - Average deposit balances decreased by $99 million, primarily due to a seasonal decline in public funds [18][28] Market Data and Key Metrics Changes - The company maintained 21% of total balances in non-interest-bearing accounts and focused on growing lower-cost deposit balances [18] - Non-performing assets declined by 9.5%, indicating improvements in asset quality metrics [11] Company Strategy and Development Direction - The company is focused on growing tangible book value, which has increased by 35% over the last three years [13] - The company received the Gallup Exceptional Workplace Award for Associate Engagement, reflecting its commitment to employee engagement [14] - The company is in discussions regarding potential M&A opportunities, although current uncertainty may prolong these discussions [52] Management's Comments on Operating Environment and Future Outlook - Management expects modest loan growth in the second quarter, with healthy pipelines in consumer, C&I, and ICRE lines of business [8][37] - The company anticipates net interest margin to expand to a range between 3.95% and 4.05% in the next quarter, assuming a 25 basis point rate cut [39] - Management remains optimistic about the year overall despite economic uncertainties [41] Other Important Information - The company’s capital ratios are strong, with all regulatory ratios well above minimums [12][35] - The company is closely monitoring the impact of tariffs on clients and their operations [12][86] Q&A Session Summary Question: Steps to reduce asset sensitivity on the balance sheet - Management indicated that the balance sheet is asset sensitive and discussed the impact of rate cuts on deposit costs and net interest margin [46][48] Question: Changes in view toward capital deployment amid tariff uncertainty - Management noted increased M&A discussions but acknowledged that current uncertainty may slow down these discussions [51][52] Question: Review process for C&I credits and specific trends - Management highlighted a significant charge-off related to a specific industry and noted healthy workouts of classified loans [60][61] Question: Outlook for loan growth in the back half of the year - Management adjusted loan growth expectations for the year to 4% to 5% due to elevated payoffs [73][78] Question: Credit charge-offs and normalized expectations - Management expects charge-offs to stabilize in the range of 25 to 30 basis points, with improving trends in asset quality [81][82] Question: Exposure to tariffs and portfolio monitoring - Management is actively engaging with clients to understand the impact of tariffs and is monitoring specific sectors for potential risks [86][88]

Financial Data and Key Metrics Changes - Adjusted earnings per share was $0.63, with a return on assets of 1.33% and a return on tangible common equity of 17.8% [7] - Net interest margin was strong at 3.88%, a decline of six basis points from the previous quarter [17][24] - Non-interest expenses decreased by 3.3% due to lower incentive compensation and fraud losses [10][31] - Tangible book value per share increased to $14.80, representing a 5% increase from the linked quarter and 18% year-over-year [13][35] Business Line Data and Key Metrics Changes - Loan balances were stable, with first-quarter loan production being seasonally lower [8] - Fee income was $61 million, a decline from the linked quarter due to seasonal fluctuations and less foreign exchange income [9][31] - Average deposit balances decreased by $99 million, primarily due to a seasonal decline in public funds [19] Market Data and Key Metrics Changes - The company maintained 21% of total balances in non-interest-bearing accounts and focused on growing lower-cost deposit balances [19] - Non-performing assets as a percentage of assets declined slightly, while net charge-offs were 36 basis points on an annualized basis [21][34] Company Strategy and Development Direction - The company is focused on growing tangible book value, with a 35% increase in tangible book value per share over the last three years [13] - The company received the Gallup Exceptional Workplace Award for Associate Engagement, reflecting its commitment to employee engagement [14] - The company is actively managing expenses and expects additional benefits from efficiency efforts [10] Management's Comments on Operating Environment and Future Outlook - Management expects modest loan growth in the second quarter, with healthy pipelines in consumer, C&I, and ICRE lines of business [8][37] - The company anticipates net interest margin to expand to a range between 3.95% and 4.05% over the next quarter [39] - Management remains optimistic about the year overall despite economic uncertainties [41] Other Important Information - Capital ratios are strong, with all regulatory ratios well in excess of minimums [12][35] - The company is closely monitoring the impact of tariffs on clients and their businesses [11][86] Q&A Session Summary Question: Steps to reduce asset sensitivity on the balance sheet - Management indicated that the balance sheet is asset sensitive and discussed the impact of rate cuts on deposit costs and net interest margin [46][48] Question: Changes in view toward capital deployment amid tariff uncertainty - Management noted increased M&A discussions but acknowledged that current uncertainty may prolong these discussions [51][52] Question: Review process for C&I credits and specific trends - Management highlighted a significant charge-off related to a flooring manufacturer affected by industry-specific issues, with no systemic concerns [60][61] Question: Outlook for loan growth in the back half of the year - Management adjusted loan growth expectations to 4% to 5% for the full year, down from earlier estimates [73] Question: Credit charge-offs and expectations for the rest of the year - Management expects charge-offs to normalize between 25 to 30 basis points, with improving trends in asset quality [81][82] Question: Exposure to tariffs and specific portfolio concerns - Management is monitoring client exposure to tariffs, with no specific business identified as more susceptible [87][88]

For the quarter ended March 2025, First Financial Bancorp (FFBC) reported revenue of $201.59 million, up 3.3% over the same period last year. EPS came in at $0.63, compared to $0.59 in the year-ago quarter.The reported revenue represents a surprise of -5.53% over the Zacks Consensus Estimate of $213.4 million. With the consensus EPS estimate being $0.63, the company has not delivered EPS surprise.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...