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)

First Financial Bancorp. (NASDAQ:FFBC) Q1 2022 Results Conference Call April 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 Scott Siefers - Piper Sandler Daniel Tamayo - Raymond James Terry McEvoy - Stephens Chris McGratty - KBW Jon Arfstrom - RBC Operator Hello, and welcome to the First Financial Bancorp First Quarter 2022 Earnings Conference Call and Webcast. ...

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 For the fiscal year ended December 31, 2021 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 ...

Financial Data and Key Metrics Changes - The company reported adjusted earnings per share of $0.58, a return on assets of 1.34%, and an efficiency ratio of 60.2% for Q4 2021 [8][17] - There was a significant provision recapture of $7.7 million, reflecting improved credit quality trends, with classified assets decreasing by 36.7% [8][26] - Core loan growth was approximately $149 million or 6.3% annualized, marking the strongest quarter of the year [11][13] Business Line Data and Key Metrics Changes - Fee revenue was strong, driven by record foreign exchange income from the Bannockburn unit, which offset a seasonal drop in mortgage income [9][14] - Loan origination activity improved to record levels, approximately 27% higher than Q3, with commercial groups leading the growth [9][11] - Non-interest expenses increased due to elevated incentive compensation tied to higher fee income and overall company performance [15][25] Market Data and Key Metrics Changes - Average deposit balances increased by $218 million during the quarter, primarily from non-interest bearing deposits and public funds [22] - The net interest margin declined by 9 basis points to 3.23%, primarily due to lower asset yields and a decline in PPP forgiveness fees [18][20] Company Strategy and Development Direction - The company completed the acquisition of Summit Funding Group, which is expected to provide significant growth opportunities and enhance its lending platform [6][7] - The company anticipates loan demand to remain strong, especially in commercial businesses, with expected mid-single-digit growth in loan balances excluding PPP and Summit [30] - The focus remains on executing core strategies, delivering exceptional service, and capitalizing on momentum achieved in 2021 [35] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's prospects for growth in 2022, particularly in a rising interest rate environment [36] - The company expects further improvement in credit quality trends and additional provision recapture in the near term, albeit at a slower pace than in the latter half of 2021 [33][34] - Management noted that the acquisition of Summit is expected to have a minimal impact on 2022 earnings initially, with a stronger contribution anticipated as the year progresses [34][52] Other Important Information - The company paused its share repurchase program due to the Summit acquisition but has authorized an additional 5 million shares for repurchase in the future [15][29] - Non-interest income for Q4 remained elevated, driven by strong performance in Bannockburn and wealth management [23] Q&A Session Summary Question: Margin stability and impact of rate hikes - Management indicated that without rate hikes, the margin would remain relatively flat, but each 25 basis point hike could initially increase the margin by about 8 basis points [39][40] Question: Deposit beta assumptions - The overall weighted beta for deposits is expected to be around 20%, with higher betas for money market accounts and public funds [42] Question: Loan sales strategy - The decision to sell hotel loans was based on portfolio risk assessment, focusing on properties with higher short and medium-term risks [44][45] Question: Efficiency ratio outlook - The efficiency ratio is expected to rise slightly without rate hikes but could improve significantly with anticipated rate increases [47][48] Question: Summit acquisition impact - The acquisition is expected to initially have a slight negative impact on EPS due to fixed costs and amortization, but should become neutral as the balance sheet builds [52] Question: Overdraft policy changes - The company has lowered overdraft fees and increased the cushion before overdraft charges, anticipating an 8% to 10% decline in overdraft revenue [67][68]

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, 2021 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 | --- | --- | --- | --- | |------------------------------------------------------- ...

Financial Data and Key Metrics Changes - Earnings per share for Q3 2021 was $0.63, with a return on assets of 1.49% and an adjusted efficiency ratio of 60.1% [6][19] - The company reported a provision recapture of $10.1 million due to improving credit quality trends, specifically lower net charge-offs and declines in classified asset balances [7][27] - Total loan balances decreased by $150.6 million, primarily due to $225.4 million in PPP loan forgiveness [8][23] Business Line Data and Key Metrics Changes - Loan growth, excluding PPP forgiveness, was 3% annualized, driven by commercial and small business banking [14] - The C&I portfolio experienced a growth of 16% on an annualized basis, with origination levels exceeding loan payoffs [8][23] - Fee income surpassed expectations, driven by strong performance in mortgage banking and wealth management, with a 13% increase in deposit service charge income compared to the previous quarter [15][25] Market Data and Key Metrics Changes - Deposit balances remained elevated, with modest increases towards the end of the quarter as clients maintained substantial liquidity levels [9][24] - Foreign exchange income declined slightly from record levels in the first half of the year, but is expected to return to a typical run rate of $10 million to $12 million in Q4 [16][43] Company Strategy and Development Direction - The company plans to continue focusing on serving the financial needs of core business, consumer, and wealth management clients, while remaining optimistic about sustaining successes through core strategies [35] - Loan balances, excluding PPP, are expected to grow in the low to mid-single digits for the remainder of the year, with a focus on commercial and small business banking [30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for further economic recovery, expecting additional reductions in credit costs in Q4 2021 and early 2022 [7][28] - The company anticipates modest pressure on net interest margin due to the low interest rate environment and excess liquidity on the balance sheet [32] Other Important Information - The company repurchased approximately 2.5 million shares at an average price of $23.04 during the quarter, totaling 4.6 million shares repurchased in 2021 [11][29] - Non-interest expenses were in line with expectations, despite increases in employee costs and marketing expenses [26] Q&A Session Summary Question: Loan growth outlook and portfolios performing well - Management highlighted strong growth in the C&I portfolio and increasing pipelines, while noting pressures in the ICRE portfolio due to high levels of payoffs [37][38] Question: Foreign exchange revenues and outlook - Management indicated that foreign exchange revenue was slightly below expectations but anticipated a rebound to the typical range in the upcoming quarter [43][44] Question: Pressure from low rates on net interest margin - Management explained that pressure on net interest margin is coming from both loan yields and reinvestment rates on the securities portfolio, with stabilization expected mid-next year [47][49] Question: Capital management and share repurchase plans - Management confirmed plans to complete the remaining share repurchase authorization and indicated a potential renewal of the repurchase plan depending on capital management strategies [50][51] Question: Opportunities for traditional M&A - Management expressed no near-term visibility on whole bank deals but emphasized a preference for organic growth while remaining open to potential M&A opportunities [54][56] Question: Wage pressure and expense management - Management acknowledged wage pressures, particularly in technology and entry-level positions, while also noting efforts to manage costs through headcount reductions and branch closures [58][59]

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, 2021 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 2021 Earnings Conference Call July 23, 2021 8:30 AM ET Company Participants Scott Crawley - Corporate Controller Archie Brown - President and Chief Executive Officer Jamie Anderson - Chief Financial Officer Bill Harrod - Chief Credit Officer Conference Call Participants Scott Siefers - Piper Sandler Jon Arfstrom - RBC Capital Markets Daniel Tamayo - Raymond James Chris McGratty - KBW Terry McEvoy - Stephens Operator Good morning, and welcome to First Financial Bancor ...