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 June 30, 2023 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) Ohio ...

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, 2023 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 (NASDAQ:FFBC) Q1 2023 Earnings Conference Call April 21, 2023 8:30 AM ET Company Participants Scott Crawley - Investor Relations Archie Brown - President and Chief Executive Officer Jamie Anderson - Chief Financial Officer Bill Harrod - Chief Credit Officer Conference Call Participants Daniel Tamayo - Raymond James Chris McGratty - KBW Scott Siefers - Piper Sandler Terry McEvoy - Stephens Jon Arfstrom - RBC Capital Markets Operator Hello and welcome to today’s First Financial Bancorp ...

TABLE OF CONTENTS (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ 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 | | | | Identification No.) | | | | 255 East Fifth Street, Suite 8 ...

First Financial Bancorp. (NASDAQ:FFBC) Q4 2022 Earnings Conference Call January 27, 2023 8:30 AM ET Company Participants Scott Crawley - Corporate Controller and Principal Accounting Officer Archie Brown - President and Chief Executive Officer James Anderson - Chief Financial Officer William Harrod - Chief Credit Officer Conference Call Participants Scott Siefers - Piper Sandler & Co. Daniel Tamayo - Raymond James Financial Inc. Terry McEvoy - Stephens Inc. Christopher McGratty - KBW Jon Arfstrom - RBC Capi ...

Table of Contents 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 September 30, 2022 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. (NASDAQ:FFBC) Q3 2022 Earnings Conference Call October 21, 2022 8:30 AM ET Company Participants Scott T. Crawley - Corporate Controller and Principal Accounting Officer Archie M. Brown - President and CEO James M. Anderson - CFO William R. Harrod - CCO Conference Call Participants Scott Siefers - Piper Sandler Daniel Tamayo - Raymond James Brandon Rud - Stephens, Inc. Christopher McGratty - KBW Operator Hello everyone and welcome to today’s First Financial Bancorp Third Quarter 2022 ...

Table of Contents 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 June 30, 2022 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. (NASDAQ:FFBC) Q2 2022 Earnings Conference Call July 22, 2022 8:30 AM ET Company Participants Scott Crawley - Corporate Controller Archie Brown - President and CEO Jamie Anderson - CFO Bill Harrod - Chief Credit Officer Conference Call Participants Chris McGratty - KBW Scott Siefers - Piper Sandler Daniel Tamayo - Raymond James Jon Arfstrom - RBC Capital Markets Terry McEvoy - Stephens Operator Hello, and welcome to the First Financial Bancorp Second Quarter 2022 Earnings Conference ...

Part I - FINANCIAL INFORMATION [Item 1 - Financial Statements](index=5&type=section&id=Item%201%20-%20Financial%20Statements) Unaudited consolidated financial statements for Q1 2022 are presented, detailing key financial positions and the Summit acquisition [Consolidated Balance Sheets](index=5&type=page&id=Consolidated%20Balance%20Sheets) Assets decreased to $16.01 billion, and equity declined to $2.14 billion due to unrealized investment losses Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total Assets** | **$16,009,150** | **$16,329,141** | | Net loans and leases | $9,117,487 | $9,156,307 | | Investment securities available-for-sale | $3,957,882 | $4,207,846 | | Goodwill | $999,959 | $1,000,749 | | **Total Liabilities** | **$13,871,705** | **$14,070,199** | | Total deposits | $12,818,908 | $12,871,954 | | **Total Shareholders' Equity** | **$2,137,445** | **$2,258,942** | | Accumulated other comprehensive income (loss) | ($142,477) | ($433) | [Consolidated Statements of Income](index=6&type=page&id=Consolidated%20Statements%20of%20Income) Net income for Q1 2022 decreased to $41.3 million, primarily due to lower net interest income and higher noninterest expenses Income Statement Summary - Three Months Ended March 31 (in thousands, except per share data) | Metric | 2022 | 2021 | | :--- | :--- | :--- | | Net interest income | $106,346 | $113,876 | | Provision for credit losses | ($5,815) | $3,988 | | Noninterest income | $41,293 | $40,322 | | Noninterest expenses | $102,805 | $92,506 | | **Net income** | **$41,301** | **$47,315** | | **Net earnings per share - diluted** | **$0.44** | **$0.48** | [Consolidated Statements of Comprehensive Income (Loss)](index=8&type=page&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20%28Loss%29) The company reported a comprehensive loss of $100.7 million in Q1 2022, driven by unrealized losses on debt securities from rising interest rates Comprehensive Income (Loss) - Three Months Ended March 31 (in thousands) | Item | 2022 | 2021 | | :--- | :--- | :--- | | Net income | $41,301 | $47,315 | | Other comprehensive income (loss) | ($142,044) | ($30,563) | | **Comprehensive income (loss)** | **($100,743)** | **$16,752** | [Consolidated Statements of Changes in Shareholders' Equity](index=9&type=page&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders%27%20Equity) Shareholders' equity decreased to $2.14 billion, primarily due to a $142.0 million other comprehensive loss despite net income - Total shareholders' equity decreased by **$121.5 million** during the first quarter of 2022, from **$2,258.9 million** to **$2,137.5 million**[15](index=15&type=chunk) - The decrease was primarily driven by an other comprehensive loss of **$142.0 million**, which overshadowed the **$41.3 million** in net income for the period[15](index=15&type=chunk) - The company declared and paid cash dividends of **$0.23 per share**, totaling **$21.6 million**[15](index=15&type=chunk) [Consolidated Statements of Cash Flows](index=10&type=page&id=Consolidated%20Statements%20of%20Cash%20Flows) Operating activities provided $143.8 million in cash, while financing activities used $216.2 million, leading to a $10.4 million net cash increase Cash Flow Summary - Three Months Ended March 31 (in thousands) | Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $143,815 | $147,034 | | Net cash provided by (used in) investing activities | $82,823 | ($366,100) | | Net cash provided by (used in) financing activities | ($216,241) | $198,203 | | **Change in cash and due from banks** | **$10,397** | **($20,863)** | [Notes to Consolidated Financial Statements](index=13&type=page&id=Notes%20to%20Consolidated%20Financial%20Statements) Detailed notes cover the Summit acquisition, loan portfolio, investment unrealized losses, and commitments, providing key financial disclosures - **Business Combination (Note 18):** The company completed its acquisition of Summit Funding Group, Inc. on December 31, 2021, for approximately **$127.1 million**. This added a significant equipment financing operation, contributing **$62.2 million** in goodwill[206](index=206&type=chunk)[207](index=207&type=chunk)[222](index=222&type=chunk) - **Allowance for Credit Losses (Note 5):** The ACL for loans and leases decreased to **$124.1 million** from **$132.0 million** at year-end 2021. A provision recapture of **$5.6 million** was recorded for the quarter, reflecting improved economic forecasts and credit outlook[100](index=100&type=chunk)[101](index=101&type=chunk) - **Loans and Leases (Note 4):** As of March 31, 2022, the company held **$21.2 million** in PPP loans, down from **$55.6 million** at year-end 2021. Total Troubled Debt Restructurings (TDRs) were **$24.2 million**[43](index=43&type=chunk)[61](index=61&type=chunk) - **Investments (Note 3):** The investment portfolio had gross unrealized losses of **$171.9 million** as of March 31, 2022, a significant increase from **$31.6 million** at year-end 2021, primarily due to rising interest rates. The company does not intend to sell these securities and has not recorded an allowance for credit losses on them[34](index=34&type=chunk)[38](index=38&type=chunk) [Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations](index=46&type=section&id=Item%202%20-%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2022 financial results, highlighting net income decline, Summit acquisition impact, improved asset quality, and capital ratio changes [Overview of Operations](index=47&type=page&id=Overview%20of%20Operations) Q1 2022 net income was $41.3 million ($0.44 diluted EPS), with a return on average assets of 1.03% Quarterly Performance Summary | Metric | Q1 2022 | Q4 2021 | Q1 2021 | | :--- | :--- | :--- | :--- | | Net Income (in millions) | $41.3 | $46.9 | $47.3 | | Diluted EPS | $0.44 | $0.50 | $0.48 | | Return on Average Assets | 1.03% | 1.16% | 1.20% | | Return on Average Equity | 7.53% | 8.31% | 8.44% | [Net Interest Income Analysis](index=51&type=page&id=Net%20Interest%20Income%20Analysis) Net interest income decreased to $106.3 million, and NIM compressed to 3.17% due to lower prepayment and PPP loan fees - Net interest income decreased by **4.0%** from the linked quarter (Q4 2021) and **6.6%** from the prior year quarter (Q1 2021)[244](index=244&type=chunk)[247](index=247&type=chunk) Net Interest Margin (FTE) | Period | NIM (FTE) | | :--- | :--- | | Q1 2022 | 3.17% | | Q4 2021 | 3.23% | | Q1 2021 | 3.40% | [Noninterest Income and Expense Analysis](index=54&type=page&id=Noninterest%20Income%20and%20Expense%20Analysis) Noninterest income decreased to $41.3 million, while noninterest expense fell to $102.8 million, influenced by the Summit acquisition - Noninterest income decreased by **$4.4 million** compared to Q4 2021, primarily due to moderation in foreign exchange income and client derivative fees[255](index=255&type=chunk) - The Summit acquisition contributed **$6.1 million** in leasing business income and **$3.9 million** in leasing business expense in Q1 2022[255](index=255&type=chunk)[258](index=258&type=chunk) - Noninterest expense decreased by **$6.8 million** from Q4 2021, which had included a **$3.3 million** legal settlement and **$6.1 million** of tax credit investment write-downs[258](index=258&type=chunk) [Financial Condition and Asset Quality](index=56&type=page&id=Financial%20Condition%20and%20Asset%20Quality) Asset quality improved with nonperforming assets declining to $53.6 million, leading to a $5.6 million provision recapture for credit losses - Nonperforming assets decreased by **$6.5 million** to **$53.6 million**, or **0.33%** of total assets, at March 31, 2022[280](index=280&type=chunk) - The Allowance for Credit Losses (ACL) as a percentage of total loans was **1.34%**, down from **1.42%** at year-end, reflecting an improved credit outlook[287](index=287&type=chunk) - The company recorded a provision recapture of **$5.6 million** for loans and leases in Q1 2022, compared to a provision expense of **$3.5 million** in Q1 2021[291](index=291&type=chunk) [Capital and Liquidity](index=61&type=page&id=Capital%20and%20Liquidity) The company remains well-capitalized, though tangible common equity decreased to 6.95% due to unrealized investment losses Key Capital Ratios | Ratio | March 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Common Equity Tier 1 | 10.87% | 10.84% | | Total Capital | 13.97% | 14.10% | | Leverage Ratio | 8.64% | 8.70% | | Tangible Common Equity | 6.95% | 7.58% | - The decline in the tangible common equity ratio was primarily driven by the decline in accumulated other comprehensive income due to higher unrealized losses in the investment portfolio[318](index=318&type=chunk) - A new stock repurchase plan for up to **5,000,000 shares** was approved in January 2022. No shares were repurchased during the first quarter[323](index=323&type=chunk)[324](index=324&type=chunk) [Market Risk](index=65&type=page&id=Market%20Risk) The company is asset sensitive to interest rate risk, with a +100 bps rate increase projected to boost net interest income by 9.76% Interest Rate Sensitivity Analysis (as of March 31, 2022) | Rate Shock | NII - Year 1 (% Change) | EVE (% Change) | | :--- | :--- | :--- | | +200 bps | +19.37% | +8.52% | | +100 bps | +9.76% | +4.54% | | -100 bps | -6.86% | -5.85% | - The company's interest rate risk models utilized a weighted average deposit beta of **35%** as of March 31, 2022[335](index=335&type=chunk) [Item 3 - Quantitative and Qualitative Disclosures about Market Risk](index=69&type=page&id=Item%203%20-%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section incorporates by reference the market risk disclosures from Item 2, Management's Discussion and Analysis - The report refers to the 'Market Risk' section within 'Item 2-Management's Discussion and Analysis' for its quantitative and qualitative disclosures about market risk[352](index=352&type=chunk) [Item 4 - Controls and Procedures](index=69&type=page&id=Item%204%20-%20Controls%20and%20Procedures) Disclosure controls were effective, excluding the recently acquired Summit Funding Group, with no material changes to internal control - The CEO and CFO concluded that disclosure controls and procedures were effective at a reasonable assurance level[355](index=355&type=chunk) - The internal control over financial reporting for the newly acquired Summit Funding Group, Inc. was excluded from the evaluation due to the timing of the acquisition[356](index=356&type=chunk) Part II - OTHER INFORMATION [Item 1 - Legal Proceedings](index=70&type=page&id=Item%201%20-%20Legal%20Proceedings) No material changes to legal proceedings were reported since the 2021 Form 10-K - No material changes to legal proceedings were reported since the 2021 Form 10-K[360](index=360&type=chunk) [Item 1A - Risk Factors](index=70&type=page&id=Item%201A%20-%20Risk%20Factors) No material changes to risk factors were reported since the 2021 Form 10-K - No material changes to risk factors were reported since the 2021 Form 10-K[361](index=361&type=chunk) [Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds](index=70&type=page&id=Item%202%20-%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) A new 5 million share repurchase plan was authorized, but no shares were repurchased in Q1 2022 - The company did not purchase any shares under its new 2022 Repurchase Plan in the first quarter of 2022[362](index=362&type=chunk) [Item 6 - Exhibits](index=71&type=page&id=Item%206%20-%20Exhibits) This section lists exhibits filed with the report, including SOX certifications and XBRL data files - Lists exhibits filed with the Form 10-Q, including Sarbanes-Oxley certifications and XBRL data[364](index=364&type=chunk)