CINCINNATI, Oct. 19, 2017 /PRNewswire/ -- First
Financial Bancorp. (Nasdaq: FFBC) ("First Financial" or the
"Company") announced financial results for the third quarter
2017. For the three months ended September 30, 2017, the
Company reported net income of $24.8
million, or $0.40 per diluted
common share. These results compare to net income of
$22.7 million, or $0.37 per diluted common share, for the second
quarter of 2017 and $22.9 million, or
$0.37 per diluted common share, for
the third quarter of 2016. For the nine months ended
September 30, 2017, First Financial
had earnings per diluted common share of $1.16 compared to $1.05 for the same period in 2016.
Return on average assets for the third quarter of 2017 was 1.13%
while return on average tangible common equity was 14.10%.
These compare to a return on average assets of 1.06% and return on
average tangible common equity of 13.42% in the second quarter of
2017 and a return on average assets of 1.09% and a return on
average tangible common equity of 14.08% in the third quarter of
2016.
Third quarter 2017 highlights include:
- Net income of $0.40 per diluted
common share on a GAAP basis; $0.39
per diluted common on an adjusted basis as detailed on slide 6 of
the accompanying slide presentation
- Net income increased $2.1
million, or 9.2%, compared to the linked quarter;
$6.7 million, or 10.3%, year to
date
- Net interest margin of 3.50% on a GAAP basis; margin increased
1 basis point to 3.57% on a fully tax equivalent basis
- Noninterest income increased $5.5
million, or 31.4%, compared to the linked quarter
-
- Includes a $5.8 million gain from
the early redemption of certain off balance sheet securitizations
associated with the 2009 FDIC-assisted transactions
- Noninterest expense increased $2.9
million, or 5.6%, compared to the linked quarter
-
- Includes $3.8 million of
severance costs related to efficiency efforts as well as
$0.8 million of merger-related
expenses
- Period-end loans increased $103.3
million, or 7.0% on an annualized basis
- Average deposits increased $110.2
million, or 6.7% on an annualized basis
- Solid credit performance with lower classified and
nonperforming asset balances
Claude Davis, Chief Executive
Officer, commented, "Strong earnings, solid loan growth and a
stable credit environment highlighted the third quarter, which was
our 108th consecutive quarter of profitability. We are
pleased with our performance improvement efforts during the quarter
and believe we are well-positioned to realize the full impact of
these efforts during the fourth quarter."
"We remain excited about our pending merger with MainSource
Financial Group. Initial regulatory applications have been
filed, integration planning efforts are well under way and we have
made several key determinations in relation to our post-merger
organizational structure and technology platform. While we
continue preparing for a successful merger, our focus remains on
executing our premier business bank strategy and delivering
exceptional service to our clients and shareholders."
This release announcing our third quarter 2017 financial results
includes an accompanying slide presentation, which management
intends to refer to during the conference call on Friday, October 20, 2017.
Teleconference / Webcast Information
First Financial's executive management will host a conference
call to discuss the Company's financial and operating results on
Friday, October 20, 2017 at
8:30 a.m. Eastern Standard
Time. Members of the public who would like to listen
to the conference call should dial (877) 506-6873 (U.S. toll free),
(855) 669-9657 (Canada toll free)
or +1 (412) 380-2003 (International) (no passcode required).
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. A replay of
the conference call will be available beginning one hour after the
completion of the live call at (877) 344-7529 (U.S. toll free),
(855) 669-9658 (Canada toll free)
and +1 (412) 317-0088 (International); conference number
10104461. 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 and any
non-GAAP reconciliations related to this release is available to
the public through the Investor Relations section of First
Financial's website at www.bankatfirst.com.
About First Financial Bancorp.
First Financial Bancorp. is a Cincinnati, Ohio based bank holding
company. As of September 30, 2017, the Company had
$8.8 billion in assets, $6.0 billion in loans, $6.7 billion in deposits and $915.0 million in shareholders' equity. The
Company's subsidiary, First Financial Bank, founded in 1863,
provides banking and financial services products through its four
lines of business: Commercial and Private Banking, Retail Banking,
Investment Commercial Real Estate and Commercial Finance.
These business units provide traditional banking services to
business and retail clients. Commercial and Private Banking
includes First Financial Wealth Management, which provides wealth
planning, portfolio management, trust and estate, brokerage and
retirement plan services and had approximately $2.6 billion in assets under management as of
September 30, 2017. The Company's primary operating
markets are located in Ohio,
Indiana and Kentucky where it operates 102 banking
centers, while the Commercial Finance business lends into targeted
industry verticals on a nationwide basis. Additional
information about the Company, including its products, services and
banking locations is available at www.bankatfirst.com.
Important Additional Information about the Merger
The Company has filed a registration statement on Form S-4 with
the SEC (filed on September 22, 2017
and amended on October 17, 2017),
which includes a joint proxy statement of the Company and
MainSource Financial and a prospectus of the Company, and each
party will file other documents regarding the proposed transaction
with the SEC. A definitive joint proxy statement/prospectus
will also be sent to the Company and MainSource Financial
shareholders seeking required shareholder approvals.
Before making any voting or investment decision, investors
and security holders of the Company and MainSource Financial are
urged to carefully read the entire registration statement and joint
proxy statement/prospectus, when they become available, as well as
any amendments or supplements to these documents, because they will
contain important information about the proposed
transaction.
The documents filed by the Company and MainSource Financial with
the SEC may be obtained free of charge at the SEC's website at
www.sec.gov. In addition, the documents filed by the Company
may be obtained free of charge at the Company's website at
http://www.bankatfirst.com and the documents filed by MainSource
Financial may be obtained free of charge at MainSource Financial' s
website at https://www.mainsourcebank.com under the tab "Investor
Relations." Alternatively, these documents, when available,
can be obtained free of charge from the Company upon written
request to First Financial Bancorp, Attention: Shannon M. Kuhl, Chief Legal Officer and
Corporate Secretary, 255 E. Fifth Street, Suite 2900, Cincinnati, Ohio 45202 or by calling (877)
322-9530 or from MainSource Financial upon written request to
MainSource Financial Group, Inc., 2105 North State Road 3 Bypass,
Greensburg, Indiana 47240, Attn:
James M. Anderson, Chief Financial
Officer, or by calling (812) 663-6734.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy securities nor shall there be any
sale of securities 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.
This communication is also not a solicitation of any vote in any
jurisdiction pursuant to the proposed transactions or
otherwise. No offer of securities or solicitation will be
made except by means of a prospectus meeting the requirements of
Section 10 of the Securities Act of 1933, as amended. The
communication is not a substitute for the joint proxy
statement/prospectus that the Company and MainSource Financial will
file with the SEC.
Cautionary Statements Regarding Forward-Looking
Information
Certain statements contained in this report which are not
statements of historical fact constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements include, but are not limited to,
certain plans, expectations, goals, projections and benefits
relating to the transaction between the Company and MainSource
Financial, which are subject to numerous assumptions, risks and
uncertainties. Words such as ''believes,'' ''anticipates,''
"likely," "expected," "estimated," ''intends'' and other similar
expressions are intended to identify forward-looking statements but
are not the exclusive means of identifying such statements.
Please refer to each of the Company's and MainSource Financial' s
Annual Report on Form 10-K for the year ended December 31, 2016, as well as their other filings
with the SEC, for a more detailed discussion of risks,
uncertainties and factors that could cause actual results to differ
from those discussed in the forward-looking statements.
Forward-looking statements are not historical facts but instead
express only management's beliefs regarding future results or
events, many of which, by their nature, are inherently uncertain
and outside of the management's control. It is possible that
actual results and outcomes may differ, possibly materially, from
the anticipated results or outcomes indicated in these
forward-looking statements. In addition to factors previously
disclosed in reports filed by the Company and MainSource Financial
with the SEC, risks and uncertainties for the Company, MainSource
Financial and the combined company include, but are not limited
to: the possibility that any of the anticipated benefits of
the proposed Merger will not be realized or will not be realized
within the expected time period; the risk that integration of
MainSource Financial's operations with those of the Company will be
materially delayed or will be more costly or difficult than
expected; the inability to close the Merger in a timely manner; the
inability to complete the Merger due to the failure of the
Company's or MainSource Financial's shareholders to adopt the
Merger Agreement; diversion of management's attention from ongoing
business operations and opportunities; the failure to satisfy other
conditions to completion of the , including receipt of required
regulatory and other approvals; the failure of the proposed Merger
to close for any other reason; the challenges of integrating and
retaining key employees; the effect of the announcement of the
Merger on the Company's, MainSource Financial's or the combined
company's respective customer relationships and operating results;
the possibility that the Merger may be more expensive to complete
than anticipated, including as a result of unexpected factors or
events; and general competitive, economic, political and market
conditions and fluctuations. All forward-looking statements
included in this filing are made as of the date hereof and are
based on information available at the time of the filing.
Except as required by law, neither the Company nor MainSource
Financial assumes any obligation to update any forward-looking
statement.
Proxy Solicitation
The Company, MainSource Financial, their directors, executive
officers and certain other persons may be deemed to be participants
in the solicitation of proxies from the Company's and MainSource
Financial's shareholders in favor of the approval of the
Merger. Information about the directors and executive
officers of the Company and their ownership of the Company's common
stock is set forth in the proxy statement for the Company's 2017
annual meeting of shareholders, as previously filed with the SEC on
April 13, 2017, and the Company's
Annual Report on Form 10-K for the year ended December 31, 2016, as previously filed with the
SEC on February 24, 2017.
Information about the directors and executive officers of
MainSource Financial and their ownership of MainSource Financial
common stock is set forth in the proxy statement for MainSource
Financial' s 2017 annual meeting of shareholders, as previously
filed with the SEC on March 24, 2017.
Shareholders may obtain additional information regarding the
interests of such participants by reading the registration
statement and the proxy statement/prospectus when they become
available.
FIRST FINANCIAL
BANCORP.
|
CONSOLIDATED
FINANCIAL HIGHLIGHTS
|
(Dollars in
thousands, except per share data)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended,
|
|
Nine months
ended,
|
|
Sep. 30,
|
|
Jun. 30,
|
|
Mar. 31,
|
|
Dec. 31,
|
|
Sep. 30,
|
|
Sep. 30,
|
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
RESULTS OF
OPERATIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$
|
24,826
|
|
|
$
|
22,736
|
|
|
$
|
24,414
|
|
|
$
|
23,294
|
|
|
$
|
22,850
|
|
|
$
|
71,976
|
|
|
$
|
65,232
|
|
Net earnings per
share - basic
|
$
|
0.40
|
|
|
$
|
0.37
|
|
|
$
|
0.40
|
|
|
$
|
0.38
|
|
|
$
|
0.37
|
|
|
$
|
1.17
|
|
|
$
|
1.07
|
|
Net earnings per
share - diluted
|
$
|
0.40
|
|
|
$
|
0.37
|
|
|
$
|
0.39
|
|
|
$
|
0.38
|
|
|
$
|
0.37
|
|
|
$
|
1.16
|
|
|
$
|
1.05
|
|
Dividends declared
per share
|
$
|
0.17
|
|
|
$
|
0.17
|
|
|
$
|
0.17
|
|
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
$
|
0.51
|
|
|
$
|
0.48
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KEY FINANCIAL
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
1.13
|
%
|
|
1.06
|
%
|
|
1.18
|
%
|
|
1.11
|
%
|
|
1.09
|
%
|
|
1.12
|
%
|
|
1.06
|
%
|
Return on average
shareholders' equity
|
10.85
|
%
|
|
10.25
|
%
|
|
11.36
|
%
|
|
10.73
|
%
|
|
10.62
|
%
|
|
10.82
|
%
|
|
10.39
|
%
|
Return on average
tangible shareholders' equity
|
14.10
|
%
|
|
13.42
|
%
|
|
14.98
|
%
|
|
14.19
|
%
|
|
14.08
|
%
|
|
14.15
|
%
|
|
13.88
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
margin
|
3.50
|
%
|
|
3.50
|
%
|
|
3.63
|
%
|
|
3.66
|
%
|
|
3.61
|
%
|
|
3.54
|
%
|
|
3.61
|
%
|
Net interest margin
(fully tax equivalent) (1)
|
3.57
|
%
|
|
3.56
|
%
|
|
3.70
|
%
|
|
3.71
|
%
|
|
3.66
|
%
|
|
3.61
|
%
|
|
3.67
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending shareholders'
equity as a percent of ending assets
|
10.44
|
%
|
|
10.31
|
%
|
|
10.32
|
%
|
|
10.25
|
%
|
|
10.29
|
%
|
|
10.44
|
%
|
|
10.29
|
%
|
Ending tangible
shareholders' equity as a percent of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending tangible
assets
|
8.25
|
%
|
|
8.09
|
%
|
|
8.05
|
%
|
|
7.96
|
%
|
|
7.97
|
%
|
|
8.25
|
%
|
|
7.97
|
%
|
Risk-weighted
assets
|
9.95
|
%
|
|
9.92
|
%
|
|
9.90
|
%
|
|
9.73
|
%
|
|
9.63
|
%
|
|
9.95
|
%
|
|
9.63
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average shareholders'
equity as a percent of average assets
|
10.42
|
%
|
|
10.36
|
%
|
|
10.36
|
%
|
|
10.33
|
%
|
|
10.29
|
%
|
|
10.38
|
%
|
|
10.21
|
%
|
Average tangible
shareholders' equity as a percent of average tangible
assets
|
8.21
|
%
|
|
8.12
|
%
|
|
8.06
|
%
|
|
8.01
|
%
|
|
7.96
|
%
|
|
8.13
|
%
|
|
7.84
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Book value per
share
|
$
|
14.74
|
|
|
$
|
14.45
|
|
|
$
|
14.16
|
|
|
$
|
13.96
|
|
|
$
|
13.90
|
|
|
$
|
14.74
|
|
|
$
|
13.90
|
|
Tangible book value
per share
|
$
|
11.36
|
|
|
$
|
11.07
|
|
|
$
|
10.78
|
|
|
$
|
10.56
|
|
|
$
|
10.50
|
|
|
$
|
11.36
|
|
|
$
|
10.50
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common equity tier 1
ratio (2)
|
10.53
|
%
|
|
10.54
|
%
|
|
10.59
|
%
|
|
10.46
|
%
|
|
10.20
|
%
|
|
10.53
|
%
|
|
10.20
|
%
|
Tier 1 ratio
(2)
|
10.53
|
%
|
|
10.54
|
%
|
|
10.59
|
%
|
|
10.46
|
%
|
|
10.20
|
%
|
|
10.53
|
%
|
|
10.20
|
%
|
Total capital ratio
(2)
|
12.98
|
%
|
|
13.05
|
%
|
|
13.19
|
%
|
|
13.10
|
%
|
|
12.82
|
%
|
|
12.98
|
%
|
|
12.82
|
%
|
Leverage ratio
(2)
|
8.74
|
%
|
|
8.69
|
%
|
|
8.69
|
%
|
|
8.60
|
%
|
|
8.45
|
%
|
|
8.74
|
%
|
|
8.45
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE BALANCE
SHEET ITEMS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
(3)
|
$
|
5,902,053
|
|
|
$
|
5,789,610
|
|
|
$
|
5,736,513
|
|
|
$
|
5,780,865
|
|
|
$
|
5,743,773
|
|
|
$
|
5,809,998
|
|
|
$
|
5,577,497
|
|
FDIC indemnification
asset
|
8,932
|
|
|
10,327
|
|
|
11,520
|
|
|
12,782
|
|
|
14,031
|
|
|
10,250
|
|
|
15,519
|
|
Investment
securities
|
2,041,785
|
|
|
2,035,334
|
|
|
1,906,699
|
|
|
1,816,944
|
|
|
1,811,240
|
|
|
1,995,101
|
|
|
1,872,958
|
|
Interest-bearing
deposits with other banks
|
37,199
|
|
|
20,293
|
|
|
40,985
|
|
|
19,557
|
|
|
22,116
|
|
|
32,812
|
|
|
22,696
|
|
Total earning
assets
|
$
|
7,989,969
|
|
|
$
|
7,855,564
|
|
|
$
|
7,695,717
|
|
|
$
|
7,630,148
|
|
|
$
|
7,591,160
|
|
|
$
|
7,848,161
|
|
|
$
|
7,488,670
|
|
Total
assets
|
$
|
8,716,917
|
|
|
$
|
8,582,961
|
|
|
$
|
8,409,071
|
|
|
$
|
8,359,912
|
|
|
$
|
8,322,156
|
|
|
$
|
8,570,777
|
|
|
$
|
8,215,370
|
|
Noninterest-bearing
deposits
|
$
|
1,510,032
|
|
|
$
|
1,513,995
|
|
|
$
|
1,499,097
|
|
|
$
|
1,544,598
|
|
|
$
|
1,453,842
|
|
|
$
|
1,507,748
|
|
|
$
|
1,427,323
|
|
Interest-bearing
deposits
|
5,170,365
|
|
|
5,056,223
|
|
|
4,942,766
|
|
|
5,012,613
|
|
|
4,746,887
|
|
|
5,057,285
|
|
|
4,787,710
|
|
Total
deposits
|
$
|
6,680,397
|
|
|
$
|
6,570,218
|
|
|
$
|
6,441,863
|
|
|
$
|
6,557,211
|
|
|
$
|
6,200,729
|
|
|
$
|
6,565,033
|
|
|
$
|
6,215,033
|
|
Borrowings
|
$
|
999,818
|
|
|
$
|
995,132
|
|
|
$
|
968,326
|
|
|
$
|
815,928
|
|
|
$
|
1,153,042
|
|
|
$
|
987,874
|
|
|
$
|
1,061,911
|
|
Shareholders'
equity
|
$
|
908,057
|
|
|
$
|
889,604
|
|
|
$
|
871,215
|
|
|
$
|
863,509
|
|
|
$
|
856,296
|
|
|
$
|
889,760
|
|
|
$
|
838,497
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDIT QUALITY
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance to ending
loans
|
0.91
|
%
|
|
0.93
|
%
|
|
0.98
|
%
|
|
1.01
|
%
|
|
1.00
|
%
|
|
0.91
|
%
|
|
1.00
|
%
|
Allowance to
nonaccrual loans
|
181.07
|
%
|
|
150.05
|
%
|
|
169.85
|
%
|
|
326.91
|
%
|
|
314.84
|
%
|
|
181.07
|
%
|
|
314.84
|
%
|
Allowance to
nonperforming loans
|
109.48
|
%
|
|
96.77
|
%
|
|
89.25
|
%
|
|
120.83
|
%
|
|
114.17
|
%
|
|
109.48
|
%
|
|
114.17
|
%
|
Nonperforming loans
to total loans
|
0.83
|
%
|
|
0.97
|
%
|
|
1.10
|
%
|
|
0.83
|
%
|
|
0.87
|
%
|
|
0.83
|
%
|
|
0.87
|
%
|
Nonperforming assets
to ending loans, plus OREO
|
0.89
|
%
|
|
1.07
|
%
|
|
1.19
|
%
|
|
0.94
|
%
|
|
1.00
|
%
|
|
0.89
|
%
|
|
1.00
|
%
|
Nonperforming assets
to total assets
|
0.60
|
%
|
|
0.72
|
%
|
|
0.80
|
%
|
|
0.64
|
%
|
|
0.69
|
%
|
|
0.60
|
%
|
|
0.69
|
%
|
Classified assets to
total assets
|
1.08
|
%
|
|
1.13
|
%
|
|
1.34
|
%
|
|
1.48
|
%
|
|
1.70
|
%
|
|
1.08
|
%
|
|
1.70
|
%
|
Net charge-offs to
average loans (annualized)
|
0.22
|
%
|
|
0.13
|
%
|
|
0.14
|
%
|
|
0.17
|
%
|
|
0.05
|
%
|
|
0.17
|
%
|
|
0.08
|
%
|
(1)
|
The tax equivalent
adjustment to net interest income recognizes the income tax savings
when comparing taxable and tax-exempt assets and assumes a 35% 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.
|
(2)
|
September 30,
2017 regulatory capital ratios are preliminary.
|
(3)
|
Includes loans held
for sale.
|
FIRST FINANCIAL
BANCORP.
|
CONSOLIDATED
STATEMENTS OF INCOME
|
(Dollars in
thousands, except per share data)
|
(Unaudited)
|
|
|
|
|
|
Three months
ended,
|
|
Nine months
ended,
|
|
Sep. 30,
|
|
Sep. 30,
|
|
2017
|
|
2016
|
|
% Change
|
|
2017
|
|
2016
|
|
% Change
|
Interest
income
|
|
|
|
|
|
|
|
|
|
|
|
Loans and
leases, including fees
|
$
|
71,148
|
|
|
$
|
66,997
|
|
|
6.2
|
%
|
|
$
|
205,764
|
|
|
$
|
194,820
|
|
|
5.6
|
%
|
Investment
securities
|
|
|
|
|
|
|
|
|
|
|
|
Taxable
|
13,150
|
|
|
10,326
|
|
|
27.3
|
%
|
|
37,356
|
|
|
32,405
|
|
|
15.3
|
%
|
Tax-exempt
|
1,537
|
|
|
1,083
|
|
|
41.9
|
%
|
|
4,347
|
|
|
3,401
|
|
|
27.8
|
%
|
Total
investment securities interest
|
14,687
|
|
|
11,409
|
|
|
28.7
|
%
|
|
41,703
|
|
|
35,806
|
|
|
16.5
|
%
|
Other earning
assets
|
(917)
|
|
|
(1,081)
|
|
|
15.2
|
%
|
|
(2,932)
|
|
|
(3,323)
|
|
|
11.8
|
%
|
Total interest
income
|
84,918
|
|
|
77,325
|
|
|
9.8
|
%
|
|
244,535
|
|
|
227,303
|
|
|
7.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
10,335
|
|
|
5,600
|
|
|
84.6
|
%
|
|
25,939
|
|
|
16,587
|
|
|
56.4
|
%
|
Short-term
borrowings
|
2,566
|
|
|
1,368
|
|
|
87.6
|
%
|
|
6,049
|
|
|
3,591
|
|
|
68.4
|
%
|
Long-term
borrowings
|
1,538
|
|
|
1,539
|
|
|
(0.1)
|
%
|
|
4,616
|
|
|
4,620
|
|
|
(0.1)
|
%
|
Total interest
expense
|
14,439
|
|
|
8,507
|
|
|
69.7
|
%
|
|
36,604
|
|
|
24,798
|
|
|
47.6
|
%
|
Net interest
income
|
70,479
|
|
|
68,818
|
|
|
2.4
|
%
|
|
207,931
|
|
|
202,505
|
|
|
2.7
|
%
|
Provision for
loan and lease losses
|
2,953
|
|
|
1,687
|
|
|
75.0
|
%
|
|
3,787
|
|
|
7,379
|
|
|
(48.7)
|
%
|
Net interest income
after provision for loan and lease losses
|
67,526
|
|
|
67,131
|
|
|
0.6
|
%
|
|
204,144
|
|
|
195,126
|
|
|
4.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
income
|
|
|
|
|
|
|
|
|
|
|
|
Service
charges on deposit accounts
|
5,169
|
|
|
5,056
|
|
|
2.2
|
%
|
|
14,585
|
|
|
13,892
|
|
|
5.0
|
%
|
Trust and
wealth management fees
|
3,324
|
|
|
3,236
|
|
|
2.7
|
%
|
|
10,476
|
|
|
9,959
|
|
|
5.2
|
%
|
Bankcard
income
|
3,272
|
|
|
2,984
|
|
|
9.7
|
%
|
|
9,908
|
|
|
8,996
|
|
|
10.1
|
%
|
Client
derivative fees
|
1,779
|
|
|
1,210
|
|
|
47.0
|
%
|
|
4,371
|
|
|
4,104
|
|
|
6.5
|
%
|
Net gains from
sales of loans
|
1,455
|
|
|
2,066
|
|
|
(29.6)
|
%
|
|
3,998
|
|
|
5,093
|
|
|
(21.5)
|
%
|
Net gains on
sale of investment securities
|
276
|
|
|
398
|
|
|
(30.7)
|
%
|
|
1,630
|
|
|
234
|
|
|
N/M
|
Other
|
7,667
|
|
|
1,999
|
|
|
N/M
|
|
12,792
|
|
|
10,377
|
|
|
23.3
|
%
|
Total noninterest
income
|
22,942
|
|
|
16,949
|
|
|
35.4
|
%
|
|
57,760
|
|
|
52,655
|
|
|
9.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
expenses
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and
employee benefits
|
33,827
|
|
|
32,093
|
|
|
5.4
|
%
|
|
97,121
|
|
|
91,234
|
|
|
6.5
|
%
|
Net
occupancy
|
4,328
|
|
|
4,543
|
|
|
(4.7)
|
%
|
|
13,145
|
|
|
13,991
|
|
|
(6.0)
|
%
|
Furniture and
equipment
|
2,161
|
|
|
2,139
|
|
|
1.0
|
%
|
|
6,474
|
|
|
6,482
|
|
|
(0.1)
|
%
|
Data
processing
|
3,455
|
|
|
2,828
|
|
|
22.2
|
%
|
|
10,254
|
|
|
8,311
|
|
|
23.4
|
%
|
Marketing
|
649
|
|
|
641
|
|
|
1.2
|
%
|
|
2,141
|
|
|
2,507
|
|
|
(14.6)
|
%
|
Communication
|
430
|
|
|
527
|
|
|
(18.4)
|
%
|
|
1,345
|
|
|
1,485
|
|
|
(9.4)
|
%
|
Professional
services
|
2,030
|
|
|
1,460
|
|
|
39.0
|
%
|
|
5,257
|
|
|
4,572
|
|
|
15.0
|
%
|
State
intangible tax
|
721
|
|
|
639
|
|
|
12.8
|
%
|
|
2,163
|
|
|
1,917
|
|
|
12.8
|
%
|
FDIC
assessments
|
1,051
|
|
|
1,048
|
|
|
0.3
|
%
|
|
3,001
|
|
|
3,292
|
|
|
(8.8)
|
%
|
Loss (gain) -
other real estate owned
|
237
|
|
|
(112)
|
|
|
N/M
|
|
423
|
|
|
(259)
|
|
|
N/M
|
Other
|
5,554
|
|
|
5,299
|
|
|
4.8
|
%
|
|
15,720
|
|
|
17,706
|
|
|
(11.2)
|
%
|
Total noninterest
expenses
|
54,443
|
|
|
51,105
|
|
|
6.5
|
%
|
|
157,044
|
|
|
151,238
|
|
|
3.8
|
%
|
Income before income
taxes
|
36,025
|
|
|
32,975
|
|
|
9.2
|
%
|
|
104,860
|
|
|
96,543
|
|
|
8.6
|
%
|
Income tax
expense
|
11,199
|
|
|
10,125
|
|
|
10.6
|
%
|
|
32,884
|
|
|
31,311
|
|
|
5.0
|
%
|
Net income
|
$
|
24,826
|
|
|
$
|
22,850
|
|
|
8.6
|
%
|
|
$
|
71,976
|
|
|
$
|
65,232
|
|
|
10.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
ADDITIONAL
DATA
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share - basic
|
$
|
0.40
|
|
|
$
|
0.37
|
|
|
|
|
$
|
1.17
|
|
|
$
|
1.07
|
|
|
|
Net earnings per
share - diluted
|
$
|
0.40
|
|
|
$
|
0.37
|
|
|
|
|
$
|
1.16
|
|
|
$
|
1.05
|
|
|
|
Dividends declared
per share
|
$
|
0.17
|
|
|
$
|
0.16
|
|
|
|
|
$
|
0.51
|
|
|
$
|
0.48
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
1.13
|
%
|
|
1.09
|
%
|
|
|
|
1.12
|
%
|
|
1.06
|
%
|
|
|
Return on average
shareholders' equity
|
10.85
|
%
|
|
10.62
|
%
|
|
|
|
10.82
|
%
|
|
10.39
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
$
|
84,918
|
|
|
$
|
77,325
|
|
|
9.8
|
%
|
|
$
|
244,535
|
|
|
$
|
227,303
|
|
|
7.6
|
%
|
Tax equivalent
adjustment
|
1,353
|
|
|
1,028
|
|
|
31.6
|
%
|
|
3,872
|
|
|
3,138
|
|
|
23.4
|
%
|
Interest
income - tax equivalent
|
86,271
|
|
|
78,353
|
|
|
10.1
|
%
|
|
248,407
|
|
|
230,441
|
|
|
7.8
|
%
|
Interest
expense
|
14,439
|
|
|
8,507
|
|
|
69.7
|
%
|
|
36,604
|
|
|
24,798
|
|
|
47.6
|
%
|
Net
interest income - tax equivalent
|
$
|
71,832
|
|
|
$
|
69,846
|
|
|
2.8
|
%
|
|
$
|
211,803
|
|
|
$
|
205,643
|
|
|
3.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
margin
|
3.50
|
%
|
|
3.61
|
%
|
|
|
|
3.54
|
%
|
|
3.61
|
%
|
|
|
Net interest margin
(fully tax equivalent) (1)
|
3.57
|
%
|
|
3.66
|
%
|
|
|
|
3.61
|
%
|
|
3.67
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Full-time equivalent
employees
|
1,363
|
|
|
1,402
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) The tax
equivalent adjustment to net interest income recognizes the income
tax savings when comparing taxable and tax-exempt assets and
assumes a 35% 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.
|
|
N/M = Not
meaningful.
|
FIRST FINANCIAL
BANCORP.
|
CONSOLIDATED
QUARTERLY STATEMENTS OF INCOME
|
(Dollars in
thousands, except per share data)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
Third
|
|
Second
|
|
First
|
|
Full
|
|
% Change
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Year
|
|
Linked
Qtr.
|
Interest
income
|
|
|
|
|
|
|
|
|
|
Loans and
leases, including fees
|
$
|
71,148
|
|
|
$
|
67,748
|
|
|
$
|
66,868
|
|
|
$
|
205,764
|
|
|
5.0
|
%
|
Investment
securities
|
|
|
|
|
|
|
|
|
|
Taxable
|
13,150
|
|
|
12,598
|
|
|
11,608
|
|
|
37,356
|
|
|
4.4
|
%
|
Tax-exempt
|
1,537
|
|
|
1,457
|
|
|
1,353
|
|
|
4,347
|
|
|
5.5
|
%
|
Total
investment securities interest
|
14,687
|
|
|
14,055
|
|
|
12,961
|
|
|
41,703
|
|
|
4.5
|
%
|
Other earning
assets
|
(917)
|
|
|
(1,014)
|
|
|
(1,001)
|
|
|
(2,932)
|
|
|
9.6
|
%
|
Total interest
income
|
84,918
|
|
|
80,789
|
|
|
78,828
|
|
|
244,535
|
|
|
5.1
|
%
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
|
|
|
|
|
|
|
Deposits
|
10,335
|
|
|
8,679
|
|
|
6,925
|
|
|
25,939
|
|
|
19.1
|
%
|
Short-term
borrowings
|
2,566
|
|
|
2,051
|
|
|
1,432
|
|
|
6,049
|
|
|
25.1
|
%
|
Long-term
borrowings
|
1,538
|
|
|
1,539
|
|
|
1,539
|
|
|
4,616
|
|
|
(0.1)
|
%
|
Total interest
expense
|
14,439
|
|
|
12,269
|
|
|
9,896
|
|
|
36,604
|
|
|
17.7
|
%
|
Net interest
income
|
70,479
|
|
|
68,520
|
|
|
68,932
|
|
|
207,931
|
|
|
2.9
|
%
|
Provision for
loan and lease losses
|
2,953
|
|
|
467
|
|
|
367
|
|
|
3,787
|
|
|
N/M
|
Net interest income
after provision for loan and lease losses
|
67,526
|
|
|
68,053
|
|
|
68,565
|
|
|
204,144
|
|
|
(0.8)
|
%
|
|
|
|
|
|
|
|
|
|
|
Noninterest
income
|
|
|
|
|
|
|
|
|
|
Service
charges on deposit accounts
|
5,169
|
|
|
4,772
|
|
|
4,644
|
|
|
14,585
|
|
|
8.3
|
%
|
Trust and
wealth management fees
|
3,324
|
|
|
3,405
|
|
|
3,747
|
|
|
10,476
|
|
|
(2.4)
|
%
|
Bankcard
income
|
3,272
|
|
|
3,501
|
|
|
3,135
|
|
|
9,908
|
|
|
(6.5)
|
%
|
Client
derivative fees
|
1,779
|
|
|
1,489
|
|
|
1,103
|
|
|
4,371
|
|
|
19.5
|
%
|
Net gains from
sales of loans
|
1,455
|
|
|
1,327
|
|
|
1,216
|
|
|
3,998
|
|
|
9.6
|
%
|
Net gains on
sale of investment securities
|
276
|
|
|
838
|
|
|
516
|
|
|
1,630
|
|
|
(67.1)
|
%
|
Other
|
7,667
|
|
|
2,122
|
|
|
3,003
|
|
|
12,792
|
|
|
N/M
|
Total noninterest
income
|
22,942
|
|
|
17,454
|
|
|
17,364
|
|
|
57,760
|
|
|
31.4
|
%
|
|
|
|
|
|
|
|
|
|
|
Noninterest
expenses
|
|
|
|
|
|
|
|
|
|
Salaries and
employee benefits
|
33,827
|
|
|
31,544
|
|
|
31,750
|
|
|
97,121
|
|
|
7.2
|
%
|
Net
occupancy
|
4,328
|
|
|
4,302
|
|
|
4,515
|
|
|
13,145
|
|
|
0.6
|
%
|
Furniture and
equipment
|
2,161
|
|
|
2,136
|
|
|
2,177
|
|
|
6,474
|
|
|
1.2
|
%
|
Data
processing
|
3,455
|
|
|
3,501
|
|
|
3,298
|
|
|
10,254
|
|
|
(1.3)
|
%
|
Marketing
|
649
|
|
|
982
|
|
|
510
|
|
|
2,141
|
|
|
(33.9)
|
%
|
Communication
|
430
|
|
|
468
|
|
|
447
|
|
|
1,345
|
|
|
(8.1)
|
%
|
Professional
services
|
2,030
|
|
|
1,469
|
|
|
1,758
|
|
|
5,257
|
|
|
38.2
|
%
|
State
intangible tax
|
721
|
|
|
721
|
|
|
721
|
|
|
2,163
|
|
|
0.0
|
%
|
FDIC
assessments
|
1,051
|
|
|
1,018
|
|
|
932
|
|
|
3,001
|
|
|
3.2
|
%
|
Loss (gain) -
other real estate owned
|
237
|
|
|
162
|
|
|
24
|
|
|
423
|
|
|
46.3
|
%
|
Other
|
5,554
|
|
|
5,253
|
|
|
4,913
|
|
|
15,720
|
|
|
5.7
|
%
|
Total noninterest
expenses
|
54,443
|
|
|
51,556
|
|
|
51,045
|
|
|
157,044
|
|
|
5.6
|
%
|
Income before income
taxes
|
36,025
|
|
|
33,951
|
|
|
34,884
|
|
|
104,860
|
|
|
6.1
|
%
|
Income tax
expense
|
11,199
|
|
|
11,215
|
|
|
10,470
|
|
|
32,884
|
|
|
(0.1)
|
%
|
Net income
|
$
|
24,826
|
|
|
$
|
22,736
|
|
|
$
|
24,414
|
|
|
$
|
71,976
|
|
|
9.2
|
%
|
|
|
|
|
|
|
|
|
|
|
ADDITIONAL
DATA
|
|
|
|
|
|
|
|
|
|
Net earnings per
share - basic
|
$
|
0.40
|
|
|
$
|
0.37
|
|
|
$
|
0.40
|
|
|
$
|
1.17
|
|
|
|
Net earnings per
share - diluted
|
$
|
0.40
|
|
|
$
|
0.37
|
|
|
$
|
0.39
|
|
|
$
|
1.16
|
|
|
|
Dividends declared
per share
|
$
|
0.17
|
|
|
$
|
0.17
|
|
|
$
|
0.17
|
|
|
$
|
0.51
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
1.13
|
%
|
|
1.06
|
%
|
|
1.18
|
%
|
|
1.12
|
%
|
|
|
Return on average
shareholders' equity
|
10.85
|
%
|
|
10.25
|
%
|
|
11.36
|
%
|
|
10.82
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
$
|
84,918
|
|
|
$
|
80,789
|
|
|
$
|
78,828
|
|
|
$
|
244,535
|
|
|
5.1
|
%
|
Tax equivalent
adjustment
|
1,353
|
|
|
1,294
|
|
|
1,225
|
|
|
3,872
|
|
|
4.6
|
%
|
Interest
income - tax equivalent
|
86,271
|
|
|
82,083
|
|
|
80,053
|
|
|
248,407
|
|
|
5.1
|
%
|
Interest
expense
|
14,439
|
|
|
12,269
|
|
|
9,896
|
|
|
36,604
|
|
|
17.7
|
%
|
Net
interest income - tax equivalent
|
$
|
71,832
|
|
|
$
|
69,814
|
|
|
$
|
70,157
|
|
|
$
|
211,803
|
|
|
2.9
|
%
|
|
|
|
|
|
|
|
|
|
|
Net interest
margin
|
3.50
|
%
|
|
3.50
|
%
|
|
3.63
|
%
|
|
3.54
|
%
|
|
|
Net interest margin
(fully tax equivalent) (1)
|
3.57
|
%
|
|
3.56
|
%
|
|
3.70
|
%
|
|
3.61
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Full-time equivalent
employees
|
1,363
|
|
|
1,429
|
|
|
1,424
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) The tax
equivalent adjustment to net interest income recognizes the income
tax savings when comparing taxable and tax-exempt assets and
assumes a 35% 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.
|
N/M = Not
meaningful.
|
|
|
|
|
|
|
|
|
|
FIRST FINANCIAL
BANCORP.
|
CONSOLIDATED
QUARTERLY STATEMENTS OF INCOME
|
(Dollars in
thousands, except per share data)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016
|
|
|
Fourth
|
|
Third
|
|
Second
|
|
First
|
|
Full
|
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Year
|
Interest
income
|
|
|
|
|
|
|
|
|
|
|
Loans and
leases, including fees
|
|
$
|
67,883
|
|
|
$
|
66,997
|
|
|
$
|
64,424
|
|
|
$
|
63,399
|
|
|
$
|
262,703
|
|
Investment
securities
|
|
|
|
|
|
|
|
|
|
|
Taxable
|
|
10,698
|
|
|
10,326
|
|
|
10,706
|
|
|
11,373
|
|
|
43,103
|
|
Tax-exempt
|
|
1,134
|
|
|
1,083
|
|
|
1,156
|
|
|
1,162
|
|
|
4,535
|
|
Total
investment securities interest
|
|
11,832
|
|
|
11,409
|
|
|
11,862
|
|
|
12,535
|
|
|
47,638
|
|
Other earning
assets
|
|
(1,068)
|
|
|
(1,081)
|
|
|
(1,103)
|
|
|
(1,139)
|
|
|
(4,391)
|
|
Total interest
income
|
|
78,647
|
|
|
77,325
|
|
|
75,183
|
|
|
74,795
|
|
|
305,950
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
6,026
|
|
|
5,600
|
|
|
5,457
|
|
|
5,530
|
|
|
22,613
|
|
Short-term
borrowings
|
|
915
|
|
|
1,368
|
|
|
1,053
|
|
|
1,170
|
|
|
4,506
|
|
Long-term
borrowings
|
|
1,540
|
|
|
1,539
|
|
|
1,541
|
|
|
1,540
|
|
|
6,160
|
|
Total interest
expense
|
|
8,481
|
|
|
8,507
|
|
|
8,051
|
|
|
8,240
|
|
|
33,279
|
|
Net interest
income
|
|
70,166
|
|
|
68,818
|
|
|
67,132
|
|
|
66,555
|
|
|
272,671
|
|
Provision for
loan and lease losses
|
|
2,761
|
|
|
1,687
|
|
|
4,037
|
|
|
1,655
|
|
|
10,140
|
|
Net interest income
after provision for loan and lease losses
|
|
67,405
|
|
|
67,131
|
|
|
63,095
|
|
|
64,900
|
|
|
262,531
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
income
|
|
|
|
|
|
|
|
|
|
|
Service
charges on deposit accounts
|
|
5,041
|
|
|
5,056
|
|
|
4,455
|
|
|
4,381
|
|
|
18,933
|
|
Trust and
wealth management fees
|
|
3,241
|
|
|
3,236
|
|
|
3,283
|
|
|
3,440
|
|
|
13,200
|
|
Bankcard
income
|
|
3,136
|
|
|
2,984
|
|
|
3,130
|
|
|
2,882
|
|
|
12,132
|
|
Client
derivative fees
|
|
466
|
|
|
1,210
|
|
|
1,799
|
|
|
1,095
|
|
|
4,570
|
|
Net gains from
sales of loans
|
|
1,711
|
|
|
2,066
|
|
|
1,846
|
|
|
1,181
|
|
|
6,804
|
|
Net gains on
sale of investment securities
|
|
0
|
|
|
398
|
|
|
(188)
|
|
|
24
|
|
|
234
|
|
Other
|
|
3,351
|
|
|
1,999
|
|
|
5,869
|
|
|
2,509
|
|
|
13,728
|
|
Total noninterest
income
|
|
16,946
|
|
|
16,949
|
|
|
20,194
|
|
|
15,512
|
|
|
69,601
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
expenses
|
|
|
|
|
|
|
|
|
|
|
Salaries and
employee benefits
|
|
31,127
|
|
|
32,093
|
|
|
29,526
|
|
|
29,615
|
|
|
122,361
|
|
Net
occupancy
|
|
4,338
|
|
|
4,543
|
|
|
4,491
|
|
|
4,957
|
|
|
18,329
|
|
Furniture and
equipment
|
|
2,181
|
|
|
2,139
|
|
|
2,130
|
|
|
2,213
|
|
|
8,663
|
|
Data
processing
|
|
3,095
|
|
|
2,828
|
|
|
2,765
|
|
|
2,718
|
|
|
11,406
|
|
Marketing
|
|
1,458
|
|
|
641
|
|
|
801
|
|
|
1,065
|
|
|
3,965
|
|
Communication
|
|
404
|
|
|
527
|
|
|
477
|
|
|
481
|
|
|
1,889
|
|
Professional
services
|
|
1,731
|
|
|
1,460
|
|
|
1,299
|
|
|
1,813
|
|
|
6,303
|
|
State
intangible tax
|
|
117
|
|
|
639
|
|
|
639
|
|
|
639
|
|
|
2,034
|
|
FDIC
assessments
|
|
1,001
|
|
|
1,048
|
|
|
1,112
|
|
|
1,132
|
|
|
4,293
|
|
Loss (gain) -
other real estate owned
|
|
(953)
|
|
|
(112)
|
|
|
43
|
|
|
(190)
|
|
|
(1,212)
|
|
Other
|
|
5,664
|
|
|
5,299
|
|
|
6,130
|
|
|
6,277
|
|
|
23,370
|
|
Total noninterest
expenses
|
|
50,163
|
|
|
51,105
|
|
|
49,413
|
|
|
50,720
|
|
|
201,401
|
|
Income before income
taxes
|
|
34,188
|
|
|
32,975
|
|
|
33,876
|
|
|
29,692
|
|
|
130,731
|
|
Income tax
expense
|
|
10,894
|
|
|
10,125
|
|
|
11,308
|
|
|
9,878
|
|
|
42,205
|
|
Net income
|
|
$
|
23,294
|
|
|
$
|
22,850
|
|
|
$
|
22,568
|
|
|
$
|
19,814
|
|
|
$
|
88,526
|
|
|
|
|
|
|
|
|
|
|
|
|
ADDITIONAL
DATA
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share - basic
|
|
$
|
0.38
|
|
|
$
|
0.37
|
|
|
$
|
0.37
|
|
|
$
|
0.32
|
|
|
$
|
1.45
|
|
Net earnings per
share - diluted
|
|
$
|
0.38
|
|
|
$
|
0.37
|
|
|
$
|
0.36
|
|
|
$
|
0.32
|
|
|
$
|
1.43
|
|
Dividends declared
per share
|
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
$
|
0.64
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
|
1.11
|
%
|
|
1.09
|
%
|
|
1.11
|
%
|
|
0.98
|
%
|
|
1.07
|
%
|
Return on average
shareholders' equity
|
|
10.73
|
%
|
|
10.62
|
%
|
|
10.84
|
%
|
|
9.70
|
%
|
|
10.48
|
%
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
$
|
78,647
|
|
|
$
|
77,325
|
|
|
$
|
75,183
|
|
|
$
|
74,795
|
|
|
$
|
305,950
|
|
Tax equivalent
adjustment
|
|
1,077
|
|
|
1,028
|
|
|
1,058
|
|
|
1,052
|
|
|
4,215
|
|
Interest
income - tax equivalent
|
|
79,724
|
|
|
78,353
|
|
|
76,241
|
|
|
75,847
|
|
|
310,165
|
|
Interest
expense
|
|
8,481
|
|
|
8,507
|
|
|
8,051
|
|
|
8,240
|
|
|
33,279
|
|
Net
interest income - tax equivalent
|
|
$
|
71,243
|
|
|
$
|
69,846
|
|
|
$
|
68,190
|
|
|
$
|
67,607
|
|
|
$
|
276,886
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
margin
|
|
3.66
|
%
|
|
3.61
|
%
|
|
3.61
|
%
|
|
3.62
|
%
|
|
3.62
|
%
|
Net interest margin
(fully tax equivalent) (1)
|
|
3.71
|
%
|
|
3.66
|
%
|
|
3.67
|
%
|
|
3.68
|
%
|
|
3.68
|
%
|
|
|
|
|
|
|
|
|
|
|
|
Full-time equivalent
employees
|
|
1,420
|
|
|
1,402
|
|
|
1,403
|
|
|
1,390
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) The tax
equivalent adjustment to net interest income recognizes the income
tax savings when comparing taxable and tax-exempt assets and
assumes a 35% 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.
|
FIRST FINANCIAL
BANCORP.
|
CONSOLIDATED
STATEMENTS OF CONDITION
|
(Dollars in
thousands)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sep. 30,
|
|
Jun. 30,
|
|
Mar. 31,
|
|
Dec. 31,
|
|
Sep. 30,
|
|
% Change
|
|
% Change
|
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
Linked
Qtr.
|
|
Comparable
Qtr.
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due from
banks
|
$
|
117,840
|
|
|
$
|
117,478
|
|
|
$
|
117,914
|
|
|
$
|
121,598
|
|
|
$
|
117,982
|
|
|
0.3
|
%
|
|
(0.1)
|
%
|
Interest-bearing deposits
with other banks
|
34,787
|
|
|
29,839
|
|
|
39,058
|
|
|
82,450
|
|
|
16,765
|
|
|
16.6
|
%
|
|
107.5
|
%
|
Investment securities
available-for-sale
|
1,286,770
|
|
|
1,298,578
|
|
|
1,220,046
|
|
|
1,039,870
|
|
|
1,120,494
|
|
|
(0.9)
|
%
|
|
14.8
|
%
|
Investment securities
held-to-maturity
|
669,816
|
|
|
696,269
|
|
|
730,796
|
|
|
763,254
|
|
|
628,497
|
|
|
(3.8)
|
%
|
|
6.6
|
%
|
Other investments
|
53,198
|
|
|
53,285
|
|
|
50,996
|
|
|
51,077
|
|
|
51,170
|
|
|
(0.2)
|
%
|
|
4.0
|
%
|
Loans held for
sale
|
16,466
|
|
|
11,939
|
|
|
7,657
|
|
|
13,135
|
|
|
17,414
|
|
|
37.9
|
%
|
|
(5.4)
|
%
|
Loans and leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
1,886,093
|
|
|
1,824,589
|
|
|
1,779,635
|
|
|
1,781,948
|
|
|
1,782,782
|
|
|
3.4
|
%
|
|
5.8
|
%
|
Lease
financing
|
86,014
|
|
|
88,152
|
|
|
88,888
|
|
|
93,108
|
|
|
96,046
|
|
|
(2.4)
|
%
|
|
(10.4)
|
%
|
Construction
real estate
|
420,941
|
|
|
443,112
|
|
|
446,332
|
|
|
399,434
|
|
|
380,349
|
|
|
(5.0)
|
%
|
|
10.7
|
%
|
Commercial real
estate
|
2,523,387
|
|
|
2,471,655
|
|
|
2,398,235
|
|
|
2,427,577
|
|
|
2,468,083
|
|
|
2.1
|
%
|
|
2.2
|
%
|
Residential real
estate
|
477,964
|
|
|
490,398
|
|
|
486,601
|
|
|
500,980
|
|
|
507,715
|
|
|
(2.5)
|
%
|
|
(5.9)
|
%
|
Home
equity
|
494,342
|
|
|
464,066
|
|
|
458,974
|
|
|
460,388
|
|
|
463,702
|
|
|
6.5
|
%
|
|
6.6
|
%
|
Installment
|
43,650
|
|
|
47,654
|
|
|
52,063
|
|
|
50,639
|
|
|
47,825
|
|
|
(8.4)
|
%
|
|
(8.7)
|
%
|
Credit
card
|
44,646
|
|
|
44,139
|
|
|
43,354
|
|
|
43,408
|
|
|
43,009
|
|
|
1.1
|
%
|
|
3.8
|
%
|
Total loans
|
5,977,037
|
|
|
5,873,765
|
|
|
5,754,082
|
|
|
5,757,482
|
|
|
5,789,511
|
|
|
1.8
|
%
|
|
3.2
|
%
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses
|
54,534
|
|
|
54,873
|
|
|
56,326
|
|
|
57,961
|
|
|
57,618
|
|
|
(0.6)
|
%
|
|
(5.4)
|
%
|
Net loans
|
5,922,503
|
|
|
5,818,892
|
|
|
5,697,756
|
|
|
5,699,521
|
|
|
5,731,893
|
|
|
1.8
|
%
|
|
3.3
|
%
|
Premises and
equipment
|
126,790
|
|
|
128,956
|
|
|
131,808
|
|
|
131,579
|
|
|
132,082
|
|
|
(1.7)
|
%
|
|
(4.0)
|
%
|
Goodwill and other
intangibles
|
209,730
|
|
|
210,045
|
|
|
210,324
|
|
|
210,625
|
|
|
210,888
|
|
|
(0.1)
|
%
|
|
(0.5)
|
%
|
Accrued interest and other
assets
|
323,789
|
|
|
344,761
|
|
|
324,815
|
|
|
324,858
|
|
|
341,296
|
|
|
(6.1)
|
%
|
|
(5.1)
|
%
|
Total
Assets
|
$
|
8,761,689
|
|
|
$
|
8,710,042
|
|
|
$
|
8,531,170
|
|
|
$
|
8,437,967
|
|
|
$
|
8,368,481
|
|
|
0.6
|
%
|
|
4.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
demand
|
$
|
1,518,011
|
|
|
$
|
1,496,173
|
|
|
$
|
1,494,892
|
|
|
$
|
1,513,771
|
|
|
$
|
1,494,529
|
|
|
1.5
|
%
|
|
1.6
|
%
|
Savings
|
2,434,086
|
|
|
2,398,262
|
|
|
2,284,821
|
|
|
2,142,189
|
|
|
2,005,407
|
|
|
1.5
|
%
|
|
21.4
|
%
|
Time
|
1,188,597
|
|
|
1,097,911
|
|
|
1,202,563
|
|
|
1,321,843
|
|
|
1,346,736
|
|
|
8.3
|
%
|
|
(11.7)
|
%
|
Total interest-bearing deposits
|
5,140,694
|
|
|
4,992,346
|
|
|
4,982,276
|
|
|
4,977,803
|
|
|
4,846,672
|
|
|
3.0
|
%
|
|
6.1
|
%
|
Noninterest-bearing
|
1,585,396
|
|
|
1,476,563
|
|
|
1,547,600
|
|
|
1,547,985
|
|
|
1,492,011
|
|
|
7.4
|
%
|
|
6.3
|
%
|
Total deposits
|
6,726,090
|
|
|
6,468,909
|
|
|
6,529,876
|
|
|
6,525,788
|
|
|
6,338,683
|
|
|
4.0
|
%
|
|
6.1
|
%
|
Federal funds purchased and
securities sold
|
|
|
|
|
|
|
|
|
|
|
|
|
|
under agreements to repurchase
|
45,532
|
|
|
130,633
|
|
|
52,484
|
|
|
120,212
|
|
|
77,936
|
|
|
(65.1)
|
%
|
|
(41.6)
|
%
|
FHLB short-term
borrowings
|
818,200
|
|
|
957,700
|
|
|
806,700
|
|
|
687,700
|
|
|
848,300
|
|
|
(14.6)
|
%
|
|
(3.5)
|
%
|
Total short-term borrowings
|
863,732
|
|
|
1,088,333
|
|
|
859,184
|
|
|
807,912
|
|
|
926,236
|
|
|
(20.6)
|
%
|
|
(6.7)
|
%
|
Long-term debt
|
119,615
|
|
|
119,669
|
|
|
119,629
|
|
|
119,589
|
|
|
119,549
|
|
|
0.0
|
%
|
|
0.1
|
%
|
Total borrowed
funds
|
983,347
|
|
|
1,208,002
|
|
|
978,813
|
|
|
927,501
|
|
|
1,045,785
|
|
|
(18.6)
|
%
|
|
(6.0)
|
%
|
Accrued interest and other
liabilities
|
137,298
|
|
|
135,014
|
|
|
142,416
|
|
|
119,454
|
|
|
122,876
|
|
|
1.7
|
%
|
|
11.7
|
%
|
Total
Liabilities
|
7,846,735
|
|
|
7,811,925
|
|
|
7,651,105
|
|
|
7,572,743
|
|
|
7,507,344
|
|
|
0.4
|
%
|
|
4.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock
|
571,750
|
|
|
569,302
|
|
|
567,911
|
|
|
570,382
|
|
|
569,199
|
|
|
0.4
|
%
|
|
0.4
|
%
|
Retained earnings
|
477,588
|
|
|
463,250
|
|
|
451,073
|
|
|
437,188
|
|
|
423,800
|
|
|
3.1
|
%
|
|
12.7
|
%
|
Accumulated other
comprehensive loss
|
(20,379)
|
|
|
(22,222)
|
|
|
(26,639)
|
|
|
(28,443)
|
|
|
(17,522)
|
|
|
(8.3)
|
%
|
|
16.3
|
%
|
Treasury stock, at
cost
|
(114,005)
|
|
|
(112,213)
|
|
|
(112,280)
|
|
|
(113,903)
|
|
|
(114,340)
|
|
|
1.6
|
%
|
|
(0.3)
|
%
|
Total
Shareholders' Equity
|
914,954
|
|
|
898,117
|
|
|
880,065
|
|
|
865,224
|
|
|
861,137
|
|
|
1.9
|
%
|
|
6.2
|
%
|
Total
Liabilities and Shareholders' Equity
|
$
|
8,761,689
|
|
|
$
|
8,710,042
|
|
|
$
|
8,531,170
|
|
|
$
|
8,437,967
|
|
|
$
|
8,368,481
|
|
|
0.6
|
%
|
|
4.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIRST FINANCIAL
BANCORP.
|
AVERAGE
CONSOLIDATED STATEMENTS OF CONDITION
|
(Dollars in
thousands)
|
(Unaudited)
|
|
|
|
|
|
|
|
Quarterly
Averages
|
|
Year-to-Date
Averages
|
|
Sep. 30,
|
|
Jun. 30,
|
|
Mar. 31,
|
|
Dec. 31,
|
|
Sep. 30,
|
|
September
30,
|
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due from
banks
|
$
|
111,984
|
|
|
$
|
116,123
|
|
|
$
|
115,719
|
|
|
$
|
122,130
|
|
|
$
|
116,441
|
|
|
$
|
114,595
|
|
|
$
|
118,542
|
|
Interest-bearing deposits
with other banks
|
37,199
|
|
|
20,293
|
|
|
40,985
|
|
|
19,557
|
|
|
22,116
|
|
|
32,812
|
|
|
22,696
|
|
Investment
securities
|
2,041,785
|
|
|
2,035,334
|
|
|
1,906,699
|
|
|
1,816,944
|
|
|
1,811,240
|
|
|
1,995,101
|
|
|
1,872,958
|
|
Loans held for
sale
|
12,705
|
|
|
9,243
|
|
|
8,125
|
|
|
14,729
|
|
|
11,197
|
|
|
10,041
|
|
|
12,052
|
|
Loans and leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
1,843,677
|
|
|
1,778,523
|
|
|
1,782,829
|
|
|
1,767,570
|
|
|
1,786,461
|
|
|
1,801,899
|
|
|
1,732,191
|
|
Lease
financing
|
85,649
|
|
|
86,880
|
|
|
89,549
|
|
|
93,817
|
|
|
96,518
|
|
|
87,345
|
|
|
97,183
|
|
Construction
real estate
|
408,373
|
|
|
447,716
|
|
|
414,038
|
|
|
376,616
|
|
|
380,894
|
|
|
423,355
|
|
|
350,642
|
|
Commercial real
estate
|
2,497,170
|
|
|
2,418,355
|
|
|
2,390,004
|
|
|
2,470,280
|
|
|
2,400,308
|
|
|
2,435,569
|
|
|
2,322,277
|
|
Residential real
estate
|
489,508
|
|
|
490,709
|
|
|
497,412
|
|
|
503,711
|
|
|
512,341
|
|
|
492,514
|
|
|
510,681
|
|
Home
equity
|
473,988
|
|
|
462,431
|
|
|
459,821
|
|
|
461,177
|
|
|
466,062
|
|
|
465,465
|
|
|
466,317
|
|
Installment
|
45,911
|
|
|
51,275
|
|
|
50,722
|
|
|
49,071
|
|
|
47,428
|
|
|
49,285
|
|
|
44,532
|
|
Credit
card
|
45,072
|
|
|
44,478
|
|
|
44,013
|
|
|
43,894
|
|
|
42,564
|
|
|
44,525
|
|
|
41,622
|
|
Total loans
|
5,889,348
|
|
|
5,780,367
|
|
|
5,728,388
|
|
|
5,766,136
|
|
|
5,732,576
|
|
|
5,799,957
|
|
|
5,565,445
|
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses
|
55,326
|
|
|
57,379
|
|
|
58,461
|
|
|
58,733
|
|
|
58,284
|
|
|
57,044
|
|
|
56,231
|
|
Net loans
|
5,834,022
|
|
|
5,722,988
|
|
|
5,669,927
|
|
|
5,707,403
|
|
|
5,674,292
|
|
|
5,742,913
|
|
|
5,509,214
|
|
Premises and
equipment
|
128,539
|
|
|
131,654
|
|
|
132,384
|
|
|
132,414
|
|
|
133,360
|
|
|
130,845
|
|
|
136,543
|
|
Goodwill and other
intangibles
|
209,933
|
|
|
210,215
|
|
|
210,513
|
|
|
210,768
|
|
|
211,029
|
|
|
210,218
|
|
|
211,365
|
|
Accrued interest and other
assets
|
340,750
|
|
|
337,111
|
|
|
324,719
|
|
|
335,967
|
|
|
342,481
|
|
|
334,252
|
|
|
332,000
|
|
Total
Assets
|
$
|
8,716,917
|
|
|
$
|
8,582,961
|
|
|
$
|
8,409,071
|
|
|
$
|
8,359,912
|
|
|
$
|
8,322,156
|
|
|
$
|
8,570,777
|
|
|
$
|
8,215,370
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
demand
|
$
|
1,494,367
|
|
|
$
|
1,483,186
|
|
|
$
|
1,484,427
|
|
|
$
|
1,540,755
|
|
|
$
|
1,447,226
|
|
|
$
|
1,487,363
|
|
|
$
|
1,440,638
|
|
Savings
|
2,494,592
|
|
|
2,408,950
|
|
|
2,224,708
|
|
|
2,093,557
|
|
|
2,015,602
|
|
|
2,377,072
|
|
|
1,998,727
|
|
Time
|
1,181,406
|
|
|
1,164,087
|
|
|
1,233,631
|
|
|
1,378,301
|
|
|
1,284,059
|
|
|
1,192,850
|
|
|
1,348,345
|
|
Total interest-bearing deposits
|
5,170,365
|
|
|
5,056,223
|
|
|
4,942,766
|
|
|
5,012,613
|
|
|
4,746,887
|
|
|
5,057,285
|
|
|
4,787,710
|
|
Noninterest-bearing
|
1,510,032
|
|
|
1,513,995
|
|
|
1,499,097
|
|
|
1,544,598
|
|
|
1,453,842
|
|
|
1,507,748
|
|
|
1,427,323
|
|
Total deposits
|
6,680,397
|
|
|
6,570,218
|
|
|
6,441,863
|
|
|
6,557,211
|
|
|
6,200,729
|
|
|
6,565,033
|
|
|
6,215,033
|
|
Federal funds purchased and
securities sold
|
|
|
|
|
|
|
|
|
|
|
|
|
|
under agreements to repurchase
|
71,315
|
|
|
62,893
|
|
|
88,048
|
|
|
93,452
|
|
|
87,343
|
|
|
74,024
|
|
|
87,715
|
|
FHLB short-term
borrowings
|
808,842
|
|
|
812,588
|
|
|
760,673
|
|
|
602,720
|
|
|
946,096
|
|
|
794,211
|
|
|
854,619
|
|
Total short-term borrowings
|
880,157
|
|
|
875,481
|
|
|
848,721
|
|
|
696,172
|
|
|
1,033,439
|
|
|
868,235
|
|
|
942,334
|
|
Long-term debt
|
119,661
|
|
|
119,651
|
|
|
119,605
|
|
|
119,756
|
|
|
119,603
|
|
|
119,639
|
|
|
119,577
|
|
Total borrowed
funds
|
999,818
|
|
|
995,132
|
|
|
968,326
|
|
|
815,928
|
|
|
1,153,042
|
|
|
987,874
|
|
|
1,061,911
|
|
Accrued interest and other
liabilities
|
128,645
|
|
|
128,007
|
|
|
127,667
|
|
|
123,264
|
|
|
112,089
|
|
|
128,110
|
|
|
99,929
|
|
Total
Liabilities
|
7,808,860
|
|
|
7,693,357
|
|
|
7,537,856
|
|
|
7,496,403
|
|
|
7,465,860
|
|
|
7,681,017
|
|
|
7,376,873
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock
|
570,216
|
|
|
568,654
|
|
|
570,058
|
|
|
569,779
|
|
|
568,203
|
|
|
569,643
|
|
|
568,812
|
|
Retained earnings
|
470,591
|
|
|
456,648
|
|
|
442,104
|
|
|
430,402
|
|
|
419,901
|
|
|
456,552
|
|
|
407,527
|
|
Accumulated other
comprehensive loss
|
(19,940)
|
|
|
(23,414)
|
|
|
(27,569)
|
|
|
(22,436)
|
|
|
(17,701)
|
|
|
(23,613)
|
|
|
(21,907)
|
|
Treasury stock, at
cost
|
(112,810)
|
|
|
(112,284)
|
|
|
(113,378)
|
|
|
(114,236)
|
|
|
(114,107)
|
|
|
(112,822)
|
|
|
(115,935)
|
|
Total
Shareholders' Equity
|
908,057
|
|
|
889,604
|
|
|
871,215
|
|
|
863,509
|
|
|
856,296
|
|
|
889,760
|
|
|
838,497
|
|
Total
Liabilities and Shareholders' Equity
|
$
|
8,716,917
|
|
|
$
|
8,582,961
|
|
|
$
|
8,409,071
|
|
|
$
|
8,359,912
|
|
|
$
|
8,322,156
|
|
|
$
|
8,570,777
|
|
|
$
|
8,215,370
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIRST FINANCIAL
BANCORP.
|
NET INTEREST
MARGIN RATE/VOLUME ANALYSIS
|
(Dollars in
thousands)
|
(Unaudited)
|
|
|
|
|
|
|
|
Quarterly
Averages
|
|
Year-to-Date
Averages
|
|
|
September 30,
2017
|
|
June 30,
2017
|
|
September 30,
2016
|
|
September 30,
2017
|
|
September 30,
2016
|
|
|
Balance
|
|
Yield
|
|
Balance
|
|
Yield
|
|
Balance
|
|
Yield
|
|
Balance
|
|
Yield
|
|
Balance
|
|
Yield
|
Earning
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment
securities
|
|
$
|
2,041,785
|
|
|
2.85
|
%
|
|
$
|
2,035,334
|
|
|
2.77
|
%
|
|
$
|
1,811,240
|
|
|
2.50
|
%
|
|
$
|
1,995,101
|
|
|
2.79
|
%
|
|
$
|
1,872,958
|
|
|
2.56
|
%
|
Interest-bearing
deposits with other banks
|
|
37,199
|
|
|
1.28
|
%
|
|
20,293
|
|
|
1.11
|
%
|
|
22,116
|
|
|
0.54
|
%
|
|
32,812
|
|
|
1.05
|
%
|
|
22,696
|
|
|
0.52
|
%
|
Gross loans (1)
|
|
5,910,985
|
|
|
4.71
|
%
|
|
5,799,937
|
|
|
4.61
|
%
|
|
5,757,804
|
|
|
4.54
|
%
|
|
5,820,248
|
|
|
4.65
|
%
|
|
5,593,016
|
|
|
4.58
|
%
|
Total earning
assets
|
|
7,989,969
|
|
|
4.22
|
%
|
|
7,855,564
|
|
|
4.13
|
%
|
|
7,591,160
|
|
|
4.04
|
%
|
|
7,848,161
|
|
|
4.17
|
%
|
|
7,488,670
|
|
|
4.06
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonearning
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses
|
|
(55,326)
|
|
|
|
|
(57,379)
|
|
|
|
|
(58,284)
|
|
|
|
|
(57,044)
|
|
|
|
|
(56,231)
|
|
|
|
Cash and due from banks
|
|
111,984
|
|
|
|
|
116,123
|
|
|
|
|
116,441
|
|
|
|
|
114,595
|
|
|
|
|
118,542
|
|
|
|
Accrued interest and other assets
|
|
670,290
|
|
|
|
|
668,653
|
|
|
|
|
672,839
|
|
|
|
|
665,065
|
|
|
|
|
664,389
|
|
|
|
Total
assets
|
|
$
|
8,716,917
|
|
|
|
|
$
|
8,582,961
|
|
|
|
|
$
|
8,322,156
|
|
|
|
|
$
|
8,570,777
|
|
|
|
|
$
|
8,215,370
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
demand
|
|
$
|
1,494,367
|
|
|
0.33
|
%
|
|
$
|
1,483,186
|
|
|
0.27
|
%
|
|
$
|
1,447,226
|
|
|
0.15
|
%
|
|
$
|
1,487,363
|
|
|
0.27
|
%
|
|
$
|
1,440,638
|
|
|
0.14
|
%
|
Savings
|
|
2,494,592
|
|
|
0.82
|
%
|
|
2,408,950
|
|
|
0.69
|
%
|
|
2,015,602
|
|
|
0.27
|
%
|
|
2,377,072
|
|
|
0.67
|
%
|
|
1,998,727
|
|
|
0.26
|
%
|
Time
|
|
1,181,406
|
|
|
1.32
|
%
|
|
1,164,087
|
|
|
1.23
|
%
|
|
1,284,059
|
|
|
1.14
|
%
|
|
1,192,850
|
|
|
1.24
|
%
|
|
1,348,345
|
|
|
1.10
|
%
|
Total interest-bearing deposits
|
|
5,170,365
|
|
|
0.79
|
%
|
|
5,056,223
|
|
|
0.69
|
%
|
|
4,746,887
|
|
|
0.47
|
%
|
|
5,057,285
|
|
|
0.69
|
%
|
|
4,787,710
|
|
|
0.46
|
%
|
Borrowed funds
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term
borrowings
|
|
880,157
|
|
|
1.16
|
%
|
|
875,481
|
|
|
0.94
|
%
|
|
1,033,439
|
|
|
0.53
|
%
|
|
868,235
|
|
|
0.93
|
%
|
|
942,334
|
|
|
0.51
|
%
|
Long-term
debt
|
|
119,661
|
|
|
5.10
|
%
|
|
119,651
|
|
|
5.16
|
%
|
|
119,603
|
|
|
5.11
|
%
|
|
119,639
|
|
|
5.16
|
%
|
|
119,577
|
|
|
5.17
|
%
|
Total
borrowed funds
|
|
999,818
|
|
|
1.63
|
%
|
|
995,132
|
|
|
1.45
|
%
|
|
1,153,042
|
|
|
1.00
|
%
|
|
987,874
|
|
|
1.44
|
%
|
|
1,061,911
|
|
|
1.03
|
%
|
Total
interest-bearing liabilities
|
|
6,170,183
|
|
|
0.93
|
%
|
|
6,051,355
|
|
|
0.81
|
%
|
|
5,899,929
|
|
|
0.57
|
%
|
|
6,045,159
|
|
|
0.81
|
%
|
|
5,849,621
|
|
|
0.57
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing demand
deposits
|
|
1,510,032
|
|
|
|
|
1,513,995
|
|
|
|
|
1,453,842
|
|
|
|
|
1,507,748
|
|
|
|
|
1,427,323
|
|
|
|
Other liabilities
|
|
128,645
|
|
|
|
|
128,007
|
|
|
|
|
112,089
|
|
|
|
|
128,110
|
|
|
|
|
99,929
|
|
|
|
Shareholders'
equity
|
|
908,057
|
|
|
|
|
889,604
|
|
|
|
|
856,296
|
|
|
|
|
889,760
|
|
|
|
|
838,497
|
|
|
|
Total
liabilities & shareholders' equity
|
|
$
|
8,716,917
|
|
|
|
|
$
|
8,582,961
|
|
|
|
|
$
|
8,322,156
|
|
|
|
|
$
|
8,570,777
|
|
|
|
|
$
|
8,215,370
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
|
$
|
70,479
|
|
|
|
|
$
|
68,520
|
|
|
|
|
$
|
68,818
|
|
|
|
|
$
|
207,931
|
|
|
|
|
$
|
202,505
|
|
|
|
Net interest
spread
|
|
|
|
3.29
|
%
|
|
|
|
3.32
|
%
|
|
|
|
3.47
|
%
|
|
|
|
3.36
|
%
|
|
|
|
3.49
|
%
|
Net interest
margin
|
|
|
|
3.50
|
%
|
|
|
|
3.50
|
%
|
|
|
|
3.61
|
%
|
|
|
|
3.54
|
%
|
|
|
|
3.61
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax equivalent
adjustment
|
|
|
|
0.07
|
%
|
|
|
|
0.06
|
%
|
|
|
|
0.05
|
%
|
|
|
|
0.07
|
%
|
|
|
|
0.06
|
%
|
Net interest margin
(fully tax equivalent)
|
|
|
|
3.57
|
%
|
|
|
|
3.56
|
%
|
|
|
|
3.66
|
%
|
|
|
|
3.61
|
%
|
|
|
|
3.67
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Loans
held for sale, nonaccrual loans, covered loans, and indemnification
asset are included in gross loans.
|
|
|
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
|
|
$
|
426
|
|
|
$
|
206
|
|
|
$
|
632
|
|
|
$
|
1,620
|
|
|
$
|
1,658
|
|
|
$
|
3,278
|
|
|
$
|
3,344
|
|
|
$
|
2,553
|
|
|
$
|
5,897
|
|
Interest-bearing deposits with other banks
|
|
9
|
|
|
55
|
|
|
64
|
|
|
41
|
|
|
49
|
|
|
90
|
|
|
89
|
|
|
79
|
|
|
168
|
|
Gross loans (2)
|
|
1,368
|
|
|
2,065
|
|
|
3,433
|
|
|
2,408
|
|
|
1,817
|
|
|
4,225
|
|
|
3,258
|
|
|
7,909
|
|
|
11,167
|
|
Total earning
assets
|
|
1,803
|
|
|
2,326
|
|
|
4,129
|
|
|
4,069
|
|
|
3,524
|
|
|
7,593
|
|
|
6,691
|
|
|
10,541
|
|
|
17,232
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total interest-bearing deposits
|
|
$
|
1,318
|
|
|
$
|
338
|
|
|
$
|
1,656
|
|
|
$
|
3,889
|
|
|
$
|
846
|
|
|
$
|
4,735
|
|
|
$
|
7,969
|
|
|
$
|
1,383
|
|
|
$
|
9,352
|
|
Borrowed
funds
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term borrowings
|
|
474
|
|
|
41
|
|
|
515
|
|
|
1,645
|
|
|
(447)
|
|
|
1,198
|
|
|
2,974
|
|
|
(516)
|
|
|
2,458
|
|
Long-term debt
|
|
(18)
|
|
|
17
|
|
|
(1)
|
|
|
(2)
|
|
|
1
|
|
|
(1)
|
|
|
(6)
|
|
|
2
|
|
|
(4)
|
|
Total borrowed
funds
|
|
456
|
|
|
58
|
|
|
514
|
|
|
1,643
|
|
|
(446)
|
|
|
1,197
|
|
|
2,968
|
|
|
(514)
|
|
|
2,454
|
|
Total
interest-bearing liabilities
|
|
1,774
|
|
|
396
|
|
|
2,170
|
|
|
5,532
|
|
|
400
|
|
|
5,932
|
|
|
10,937
|
|
|
869
|
|
|
11,806
|
|
Net interest income (1)
|
|
$
|
29
|
|
|
$
|
1,930
|
|
|
$
|
1,959
|
|
|
$
|
(1,463)
|
|
|
$
|
3,124
|
|
|
$
|
1,661
|
|
|
$
|
(4,246)
|
|
|
$
|
9,672
|
|
|
$
|
5,426
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Not
tax equivalent.
|
(2) Loans
held for sale, nonaccrual loans, covered loans, and indemnification
asset are included in gross loans.
|
|
|
|
|
FIRST FINANCIAL
BANCORP.
|
|
CREDIT
QUALITY
|
|
(Dollars in
thousands)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months
ended,
|
|
|
Sep. 30,
|
|
Jun. 30,
|
|
Mar. 31,
|
|
Dec. 31,
|
|
Sep. 30,
|
|
Sep. 30,
|
|
Sep. 30,
|
|
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
ALLOWANCE FOR LOAN
AND LEASE LOSS ACTIVITY
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning
of period
|
$
|
54,873
|
|
|
$
|
56,326
|
|
|
$
|
57,961
|
|
|
$
|
57,618
|
|
|
$
|
56,708
|
|
|
$
|
57,961
|
|
|
$
|
53,398
|
|
|
Provision for
loan and lease losses
|
2,953
|
|
|
467
|
|
|
367
|
|
|
2,761
|
|
|
1,687
|
|
|
3,787
|
|
|
7,379
|
|
|
Gross
charge-offs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial
|
4,122
|
|
|
3,065
|
|
|
1,743
|
|
|
1,590
|
|
|
296
|
|
|
8,930
|
|
|
1,040
|
|
|
Lease financing
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
Construction real estate
|
0
|
|
|
0
|
|
|
0
|
|
|
(2)
|
|
|
64
|
|
|
0
|
|
|
95
|
|
|
Commercial real estate
|
58
|
|
|
485
|
|
|
485
|
|
|
990
|
|
|
1,135
|
|
|
1,028
|
|
|
3,993
|
|
|
Residential real estate
|
23
|
|
|
223
|
|
|
61
|
|
|
224
|
|
|
90
|
|
|
307
|
|
|
163
|
|
Home equity
|
71
|
|
|
384
|
|
|
180
|
|
|
232
|
|
|
475
|
|
|
635
|
|
|
1,213
|
|
|
Installment
|
24
|
|
|
126
|
|
|
49
|
|
|
60
|
|
|
223
|
|
|
199
|
|
|
326
|
|
|
Credit card
|
201
|
|
|
215
|
|
|
232
|
|
|
326
|
|
|
267
|
|
|
648
|
|
|
864
|
|
|
Total gross
charge-offs
|
4,499
|
|
|
4,498
|
|
|
2,750
|
|
|
3,420
|
|
|
2,550
|
|
|
11,747
|
|
|
7,694
|
|
|
Recoveries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial
|
325
|
|
|
693
|
|
|
262
|
|
|
186
|
|
|
327
|
|
|
1,280
|
|
|
969
|
|
|
Lease financing
|
0
|
|
|
1
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
1
|
|
|
1
|
|
|
Construction real estate
|
0
|
|
|
89
|
|
|
0
|
|
|
51
|
|
|
6
|
|
|
89
|
|
|
234
|
|
|
Commercial real estate
|
585
|
|
|
1,398
|
|
|
256
|
|
|
382
|
|
|
997
|
|
|
2,239
|
|
|
2,120
|
|
|
Residential real estate
|
70
|
|
|
59
|
|
|
9
|
|
|
54
|
|
|
38
|
|
|
138
|
|
|
182
|
|
|
Home equity
|
110
|
|
|
222
|
|
|
106
|
|
|
144
|
|
|
257
|
|
|
438
|
|
|
576
|
|
|
Installment
|
74
|
|
|
43
|
|
|
71
|
|
|
118
|
|
|
56
|
|
|
188
|
|
|
217
|
|
|
Credit card
|
43
|
|
|
73
|
|
|
44
|
|
|
67
|
|
|
92
|
|
|
160
|
|
|
236
|
|
|
Total
recoveries
|
1,207
|
|
|
2,578
|
|
|
748
|
|
|
1,002
|
|
|
1,773
|
|
|
4,533
|
|
|
4,535
|
|
|
Total net
charge-offs
|
3,292
|
|
|
1,920
|
|
|
2,002
|
|
|
2,418
|
|
|
777
|
|
|
7,214
|
|
|
3,159
|
|
|
Ending allowance for
loan and lease losses
|
$
|
54,534
|
|
|
$
|
54,873
|
|
|
$
|
56,326
|
|
|
$
|
57,961
|
|
|
$
|
57,618
|
|
|
$
|
54,534
|
|
|
$
|
57,618
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET CHARGE-OFFS TO
AVERAGE LOANS AND LEASES (ANNUALIZED)
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
0.82
|
%
|
|
0.53
|
%
|
|
0.34
|
%
|
|
0.32
|
%
|
|
(0.01)
|
%
|
|
0.57
|
%
|
|
0.01
|
%
|
|
Lease
financing
|
0.00
|
%
|
|
0.00
|
%
|
|
0.00
|
%
|
|
0.00
|
%
|
|
0.00
|
%
|
|
0.00
|
%
|
|
0.00
|
%
|
|
Construction
real estate
|
0.00
|
%
|
|
(0.08)
|
%
|
|
0.00
|
%
|
|
(0.06)
|
%
|
|
0.06
|
%
|
|
(0.03)
|
%
|
|
(0.05)
|
%
|
|
Commercial
real estate
|
(0.08)
|
%
|
|
(0.15)
|
%
|
|
0.04
|
%
|
|
0.10
|
%
|
|
0.02
|
%
|
|
(0.07)
|
%
|
|
0.11
|
%
|
|
Residential
real estate
|
(0.04)
|
%
|
|
0.13
|
%
|
|
0.04
|
%
|
|
0.13
|
%
|
|
0.04
|
%
|
|
0.05
|
%
|
|
0.00
|
%
|
|
Home
equity
|
(0.03)
|
%
|
|
0.14
|
%
|
|
0.07
|
%
|
|
0.08
|
%
|
|
0.19
|
%
|
|
0.06
|
%
|
|
0.18
|
%
|
|
Installment
|
(0.43)
|
%
|
|
0.65
|
%
|
|
(0.18)
|
%
|
|
(0.47)
|
%
|
|
1.40
|
%
|
|
0.03
|
%
|
|
0.33
|
%
|
|
Credit
card
|
1.39
|
%
|
|
1.28
|
%
|
|
1.73
|
%
|
|
2.35
|
%
|
|
1.64
|
%
|
|
1.47
|
%
|
|
2.02
|
%
|
|
Total net
charge-offs
|
0.22
|
%
|
|
0.13
|
%
|
|
0.14
|
%
|
|
0.17
|
%
|
|
0.05
|
%
|
|
0.17
|
%
|
|
0.08
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPONENTS OF
NONPERFORMING LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING
ASSETS
|
|
|
|
Nonaccrual
loans (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial
|
$
|
9,026
|
|
|
$
|
15,099
|
|
|
$
|
9,249
|
|
|
$
|
2,419
|
|
|
$
|
3,201
|
|
|
$
|
9,026
|
|
|
$
|
3,201
|
|
|
Lease financing
|
87
|
|
|
94
|
|
|
102
|
|
|
195
|
|
|
214
|
|
|
87
|
|
|
214
|
|
|
Construction real estate
|
824
|
|
|
1,075
|
|
|
1,075
|
|
|
0
|
|
|
0
|
|
|
824
|
|
|
0
|
|
|
Commercial real estate
|
12,244
|
|
|
12,617
|
|
|
14,324
|
|
|
6,098
|
|
|
5,985
|
|
|
12,244
|
|
|
5,985
|
|
|
Residential real estate
|
4,333
|
|
|
4,442
|
|
|
4,520
|
|
|
5,251
|
|
|
4,759
|
|
|
4,333
|
|
|
4,759
|
|
|
Home equity
|
3,364
|
|
|
2,937
|
|
|
3,571
|
|
|
3,400
|
|
|
3,815
|
|
|
3,364
|
|
|
3,815
|
|
|
Installment
|
240
|
|
|
307
|
|
|
322
|
|
|
367
|
|
|
327
|
|
|
240
|
|
|
327
|
|
|
Nonaccrual
loans
|
30,118
|
|
|
36,571
|
|
|
33,163
|
|
|
17,730
|
|
|
18,301
|
|
|
30,118
|
|
|
18,301
|
|
|
Accruing
troubled debt restructurings (TDRs)
|
19,692
|
|
|
20,135
|
|
|
29,948
|
|
|
30,240
|
|
|
32,164
|
|
|
19,692
|
|
|
32,164
|
|
|
Total nonperforming
loans
|
49,810
|
|
|
56,706
|
|
|
63,111
|
|
|
47,970
|
|
|
50,465
|
|
|
49,810
|
|
|
50,465
|
|
|
Other real
estate owned (OREO)
|
3,116
|
|
|
5,961
|
|
|
5,300
|
|
|
6,284
|
|
|
7,577
|
|
|
3,116
|
|
|
7,577
|
|
|
Total nonperforming
assets
|
52,926
|
|
|
62,667
|
|
|
68,411
|
|
|
54,254
|
|
|
58,042
|
|
|
52,926
|
|
|
58,042
|
|
|
Accruing loans
past due 90 days or more
|
84
|
|
|
124
|
|
|
96
|
|
|
142
|
|
|
130
|
|
|
84
|
|
|
130
|
|
|
Total underperforming
assets
|
$
|
53,010
|
|
|
$
|
62,791
|
|
|
$
|
68,507
|
|
|
$
|
54,396
|
|
|
$
|
58,172
|
|
|
$
|
53,010
|
|
|
$
|
58,172
|
|
|
Total classified
assets
|
$
|
94,320
|
|
|
$
|
98,391
|
|
|
$
|
114,550
|
|
|
$
|
125,155
|
|
|
$
|
142,169
|
|
|
$
|
94,320
|
|
|
$
|
142,169
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDIT QUALITY
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan
and lease losses to
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual loans
|
181.07
|
%
|
|
150.05
|
%
|
|
169.85
|
%
|
|
326.91
|
%
|
|
314.84
|
%
|
|
181.07
|
%
|
|
314.84
|
%
|
|
Nonperforming
loans
|
109.48
|
%
|
|
96.77
|
%
|
|
89.25
|
%
|
|
120.83
|
%
|
|
114.17
|
%
|
|
109.48
|
%
|
|
114.17
|
%
|
|
Total ending
loans
|
0.91
|
%
|
|
0.93
|
%
|
|
0.98
|
%
|
|
1.01
|
%
|
|
1.00
|
%
|
|
0.91
|
%
|
|
1.00
|
%
|
|
Nonperforming loans
to total loans
|
0.83
|
%
|
|
0.97
|
%
|
|
1.10
|
%
|
|
0.83
|
%
|
|
0.87
|
%
|
|
0.83
|
%
|
|
0.87
|
%
|
|
Nonperforming assets
to
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending loans, plus
OREO
|
0.89
|
%
|
|
1.07
|
%
|
|
1.19
|
%
|
|
0.94
|
%
|
|
1.00
|
%
|
|
0.89
|
%
|
|
1.00
|
%
|
|
Total assets
|
0.60
|
%
|
|
0.72
|
%
|
|
0.80
|
%
|
|
0.64
|
%
|
|
0.69
|
%
|
|
0.60
|
%
|
|
0.69
|
%
|
|
Nonperforming assets,
excluding accruing TDRs to
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending loans, plus
OREO
|
0.56
|
%
|
|
0.72
|
%
|
|
0.67
|
%
|
|
0.42
|
%
|
|
0.45
|
%
|
|
0.56
|
%
|
|
0.45
|
%
|
|
Total assets
|
0.38
|
%
|
|
0.49
|
%
|
|
0.45
|
%
|
|
0.28
|
%
|
|
0.31
|
%
|
|
0.38
|
%
|
|
0.31
|
%
|
|
Classified assets to
total assets
|
1.08
|
%
|
|
1.13
|
%
|
|
1.34
|
%
|
|
1.48
|
%
|
|
1.70
|
%
|
|
1.08
|
%
|
|
1.70
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Nonaccrual
loans include nonaccrual TDRs of $9.1 million, $9.4 million, $7.8
million, $5.1 million, and $5.6 million, as of September 30, 2017,
June 30, 2017, March 31, 2017, December 31, 2016, and September 30,
2016, respectively.
|
|
|
|
|
|
|
|
FIRST FINANCIAL
BANCORP.
|
CAPITAL
ADEQUACY
|
(Dollars in
thousands, except per share data)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
Nine months
ended,
|
|
Sep. 30,
|
|
Jun. 30,
|
|
Mar. 31,
|
|
Dec. 31,
|
|
Sep. 30,
|
|
Sep. 30,
|
|
Sep. 30,
|
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
PER COMMON
SHARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market
Price
|
|
|
|
|
|
|
|
|
|
|
|
|
|
High
|
$
|
28.50
|
|
|
$
|
28.95
|
|
|
$
|
28.90
|
|
|
$
|
29.35
|
|
|
$
|
22.52
|
|
|
$
|
28.95
|
|
|
$
|
22.52
|
|
Low
|
$
|
23.10
|
|
|
$
|
25.05
|
|
|
$
|
26.00
|
|
|
$
|
21.05
|
|
|
$
|
18.83
|
|
|
$
|
23.10
|
|
|
$
|
14.91
|
|
Close
|
$
|
26.15
|
|
|
$
|
27.70
|
|
|
$
|
27.45
|
|
|
$
|
28.45
|
|
|
$
|
21.84
|
|
|
$
|
26.15
|
|
|
$
|
21.84
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding - basic
|
61,577,619
|
|
|
61,543,478
|
|
|
61,398,414
|
|
|
61,311,068
|
|
|
61,280,283
|
|
|
61,507,160
|
|
|
61,170,845
|
|
Average shares
outstanding - diluted
|
62,189,637
|
|
|
62,234,022
|
|
|
62,140,384
|
|
|
62,080,683
|
|
|
62,086,067
|
|
|
62,185,874
|
|
|
61,962,961
|
|
Ending shares
outstanding
|
62,061,465
|
|
|
62,141,071
|
|
|
62,134,285
|
|
|
61,979,552
|
|
|
61,952,873
|
|
|
62,061,465
|
|
|
61,952,873
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
$
|
914,954
|
|
|
$
|
898,117
|
|
|
$
|
880,065
|
|
|
$
|
865,224
|
|
|
$
|
861,137
|
|
|
$
|
914,954
|
|
|
$
|
861,137
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REGULATORY
CAPITAL
|
Preliminary
|
|
|
|
|
|
|
|
|
|
Preliminary
|
|
|
Common equity tier 1
capital
|
$
|
746,730
|
|
|
$
|
731,024
|
|
|
$
|
716,678
|
|
|
$
|
703,891
|
|
|
$
|
688,363
|
|
|
$
|
746,730
|
|
|
$
|
688,363
|
|
Common equity tier 1
capital ratio
|
10.53
|
%
|
|
10.54
|
%
|
|
10.59
|
%
|
|
10.46
|
%
|
|
10.20
|
%
|
|
10.53
|
%
|
|
10.20
|
%
|
Tier 1
capital
|
$
|
746,834
|
|
|
$
|
731,128
|
|
|
$
|
716,782
|
|
|
$
|
703,995
|
|
|
$
|
688,467
|
|
|
$
|
746,834
|
|
|
$
|
688,467
|
|
Tier 1
ratio
|
10.53
|
%
|
|
10.54
|
%
|
|
10.59
|
%
|
|
10.46
|
%
|
|
10.20
|
%
|
|
10.53
|
%
|
|
10.20
|
%
|
Total
capital
|
$
|
920,642
|
|
|
$
|
905,222
|
|
|
$
|
892,161
|
|
|
$
|
881,158
|
|
|
$
|
865,248
|
|
|
$
|
920,642
|
|
|
$
|
865,248
|
|
Total capital
ratio
|
12.98
|
%
|
|
13.05
|
%
|
|
13.19
|
%
|
|
13.10
|
%
|
|
12.82
|
%
|
|
12.98
|
%
|
|
12.82
|
%
|
Total capital in
excess of minimum
|
|
|
|
|
|
|
|
|
|
|
|
|
|
requirement
|
$
|
264,751
|
|
|
$
|
263,580
|
|
|
$
|
266,367
|
|
|
$
|
300,804
|
|
|
$
|
282,996
|
|
|
$
|
264,751
|
|
|
$
|
282,996
|
|
Total risk-weighted
assets
|
$
|
7,090,714
|
|
|
$
|
6,936,665
|
|
|
$
|
6,765,336
|
|
|
$
|
6,728,737
|
|
|
$
|
6,750,750
|
|
|
$
|
7,090,714
|
|
|
$
|
6,750,750
|
|
Leverage
ratio
|
8.74
|
%
|
|
8.69
|
%
|
|
8.69
|
%
|
|
8.60
|
%
|
|
8.45
|
%
|
|
8.74
|
%
|
|
8.45
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER CAPITAL
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending shareholders'
equity to ending assets
|
10.44
|
%
|
|
10.31
|
%
|
|
10.32
|
%
|
|
10.25
|
%
|
|
10.29
|
%
|
|
10.44
|
%
|
|
10.29
|
%
|
Ending tangible
shareholders' equity to ending tangible assets
|
8.25
|
%
|
|
8.09
|
%
|
|
8.05
|
%
|
|
7.96
|
%
|
|
7.97
|
%
|
|
8.25
|
%
|
|
7.97
|
%
|
Average shareholders'
equity to average assets
|
10.42
|
%
|
|
10.36
|
%
|
|
10.36
|
%
|
|
10.33
|
%
|
|
10.29
|
%
|
|
10.38
|
%
|
|
10.21
|
%
|
Average tangible
shareholders' equity to average tangible assets
|
8.21
|
%
|
|
8.12
|
%
|
|
8.06
|
%
|
|
8.01
|
%
|
|
7.96
|
%
|
|
8.13
|
%
|
|
7.84
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View original
content:http://www.prnewswire.com/news-releases/first-financial-bancorp-announces-third-quarter-results-300540115.html
SOURCE First Financial Bancorp.