First Financial Bancorp
NASDAQ:FFBC

  • LAST PRICE
    28.7300
  • TODAY'S CHANGE (%)
    -0.1700 (-0.5882%)
  • Bid / Lots
    28.6900/ 8
  • Ask / Lots
    28.7500/ 8
  • Open / Previous Close
    28.3900 / 28.9000
  • Day Range
    28.3900
    28.8200
  • 52 Week Range
    19.9200
    30.1100
  • Volume
    26,963

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  • Nov 6, 2024

  • Oct 24, 2024

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    • 4:21PM ET on Thursday Oct 24, 2024 by MT Newswires
      Companies Mentioned: FFBC
      04:21 PM EDT, 10/24/2024 (MT Newswires) -- ...

    • 4:15PM ET on Thursday Oct 24, 2024 by PR Newswire
      Companies Mentioned: FFBC

      -- Earnings per diluted share of $0.55; $0.67 on an adjusted(1) basis

      -- Return on average assets of 1.17%; 1.42% on an adjusted(1) basis

      -- Net interest margin on FTE basis(1) of 4.08%

      -- Noninterest income of $45.7 million; $58.8 million on an adjusted(1) basis

    • 4:15PM ET on Thursday Oct 24, 2024 by Dow Jones
      Companies Mentioned: FFBC
      recoveries 1,244 789 559 1,139 671 2,592 4,558 ---------- ---------- ---------- ---------- ---------- --------- --------- Total net charge-offs 7,284 4,246 10,578 12,572 16,352 22,108 22,046 ---------- ---------- ---------- ---------- ---------- --------- --------- Ending allowance for credit losses $ 158,831 $ 156,185 $ 144,274 $ 141,433 $ 145,201 $ 158,831 $ 145,201 ========== ========== ========== ========== ========== ========= ========= NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED) Commercial and industrial 0.54 % 0.21 % 0.29 % 0.74 % 1.02 % 0.35 % 0.43 % Lease financing 0.26 % 0.15 % (0.05) % 3.97 % 0.08 % 0.13 % 0.07 % Construction real estate 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % Commercial real estate 0.02 % (0.01) % 0.52 % (0.01) % 0.59 % 0.18 % 0.21 % Residential real estate 0.01 % (0.01) % 0.01 % 0.00 % (0.01) % 0.00 % (0.02) % Home equity (0.07) % 0.00 % (0.03) % 0.00 % (0.04) % (0.03) % (0.05) % Installment 3.03 % 4.81 % 5.33 % 4.57 % 3.05 % 4.42 % 3.08 % Credit card 4.13 % 2.94 % 4.59 % 1.49 % 1.82 % 3.88 % 1.48 % Total net charge-offs 0.25 % 0.15 % 0.38 % 0.46 % 0.61 % 0.26 % 0.28 % ========== ========== ========== ========== ========== ========= ========= COMPONENTS OF NONACCRUAL LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS Nonaccrual loans Commercial and industrial $ 10,703 $ 17,665 $ 14,532 $ 15,746 $ 17,152 $ 10,703 $ 17,152 Lease financing 11,632 5,374 3,794 3,610 7,731 11,632 7,731 Construction real estate 0 0 0 0 0 0 0 Commercial real estate 23,608 22,942 23,055 27,984 33,019 23,608 33,019 Residential real estate 14,596 12,715 12,836 14,067 12,328 14,596 12,328 Home equity 4,074 3,295 4,036 3,476 3,937 4,074 3,937 Installment 826 682 984 870 774 826 774 ---------- ---------- ---------- ---------- ---------- --------- --------- Total nonaccrual loans 65,439 62,673 59,237 65,753 74,941 65,439 74,941 Other real estate owned (OREO) 30 30 161 106 142 30 142 ---------- ---------- ---------- ---------- ---------- --------- --------- Total nonperforming assets 65,469 62,703 59,398 65,859 75,083 65,469 75,083 Accruing loans past due 90 days or more 463 1,573 820 2,028 698 463 698 ---------- ---------- ---------- ---------- ---------- --------- --------- Total underperforming assets $ 65,932 $ 64,276 $ 60,218 $ 67,887 $ 75,781 $ 65,932 $ 75,781 ========== ========== ========== ========== ========== ========= ========= Total classified assets $ 206,194 $ 195,277 $ 162,348 $ 140,995 $ 140,552 $ 206,194 $ 140,552 ========== ========== ========== ========== ========== ========= ========= CREDIT QUALITY RATIOS Allowance for credit losses to Nonaccrual loans 242.72 % 249.21 % 243.55 % 215.10 % 193.75 % 242.72 % 193.75 % Total ending loans 1.37 % 1.36 % 1.29 % 1.29 % 1.36 % 1.37 % 1.36 % Nonaccrual loans to total loans 0.57 % 0.54 % 0.53 % 0.60 % 0.70 % 0.57 % 0.70 % Nonperforming assets to Ending loans, plus OREO 0.57 % 0.54 % 0.53 % 0.60 % 0.71 % 0.57 % 0.71 % Total assets 0.36 % 0.35 % 0.34 % 0.38 % 0.44 % 0.36 % 0.44 % Classified assets to total assets 1.14 % 1.07 % 0.92 % 0.80 % 0.82 % 1.14 % 0.82 % FIRST FINANCIAL BANCORP. CAPITAL ADEQUACY (Dollars in thousands, except per share data) (Unaudited) Three Months Ended, Nine months ended, Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, Sep. 30, Sep. 30, 2024 2024 2024 2023 2023 2024 2023 ------------- ------------- ------------- ------------- ------------- ------------- ------------- PER COMMON SHARE Market Price High $ 28.09 $ 23.78 $ 23.68 $ 24.28 $ 24.02 $ 28.09 $ 26.24 Low $ 21.70 $ 20.79 $ 21.04 $ 17.37 $ 19.19 $ 20.79 $ 18.20 Close $ 25.23 $ 22.22 $ 22.42 $ 23.75 $ 19.60 $ 25.23 $ 19.60 Average shares outstanding - basic 94,473,666 94,438,235 94,218,067 94,063,570 94,030,275 94,377,010 93,896,716 Average shares outstanding - diluted 95,479,510 95,470,093 95,183,998 95,126,316 95,126,269 95,378,238 95,085,871 Ending shares outstanding 95,486,317 95,486,010 95,473,595 95,141,244 95,117,180 95,486,317 95,117,180 Total shareholders' equity $ 2,450,438 $ 2,326,439 $ 2,287,003 $ 2,267,974 $ 2,129,509 $ 2,450,438 $ 2,129,509 REGULATORY CAPITAL Preliminary Preliminary Common equity tier 1 capital $ 1,661,759 $ 1,626,345 $ 1,582,113 $ 1,568,815 $ 1,527,793 $ 1,661,759 $ 1,527,793 Common equity tier 1 capital ratio 12.04 % 11.78 % 11.67 % 11.73 % 11.60 % 12.04 % 11.60 % Tier 1 capital $ 1,706,796 $ 1,671,258 $ 1,626,899 $ 1,613,480 $ 1,572,248 $ 1,706,796 $ 1,572,248 Tier 1 ratio 12.37 % 12.11 % 12.00 % 12.06 % 11.94 % 12.37 % 11.94 % Total capital $ 2,012,349 $ 1,997,378 $ 1,940,762 $ 1,907,441 $ 1,868,490 $ 2,012,349 $ 1,868,490 Total capital ratio 14.58 % 14.47 % 14.31 % 14.26 % 14.19 % 14.58 % 14.19 % Total capital in excess of minimum requirement $ 563,592 $ 548,037 $ 516,704 $ 503,152 $ 485,580 $ 563,592 $ 485,580 Total risk-weighted assets $ 13,797,681 $ 13,803,249 $ 13,562,455 $ 13,374,177 $ 13,170,574 $ 13,797,681 $ 13,170,574 Leverage ratio 9.93 % 9.73 % 9.75 % 9.70 % 9.59 % 9.93 % 9.59 % OTHER CAPITAL RATIOS Ending shareholders' equity to ending assets 13.50 % 12.81 % 12.99 % 12.94 % 12.49 % 13.50 % 12.49 % Ending tangible shareholders' equity to ending tangible assets (1) 7.98 % 7.23 % 7.23 % 7.17 % 6.50 % 7.98 % 6.50 % Average shareholders' equity to average assets 13.28 % 12.87 % 13.09 % 12.52 % 12.70 % 13.08 % 12.53 % Average tangible shareholders' equity to average tangible assets (1) 7.64 % 7.15 % 7.25 % 6.57 % 6.69 % 7.35 % 6.49 % REPURCHASE PROGRAM (2) Shares repurchased 0 0 0 0 0 0 0 Average share N/A N/A N/A N/A N/A N/A N/A repurchase price Total cost of N/A N/A N/A N/A N/A N/A N/A shares repurchased (1) Non-GAAP measure. For details on the calculation of these non-GAAP financial measures and a reconciliation to the GAAP financial measure, see the sections titled "Use of Non-GAAP Financial Measures" in this release and "Appendix: Non-GAAP to GAAP Reconciliation" in the accompanying slide presentation. (2) Represents share repurchases as part of publicly announced plans. N/A = Not applicable

    • 4:15PM ET on Thursday Oct 24, 2024 by Dow Jones
      Companies Mentioned: FFBC
      recoveries 1,244 789 559 1,139 671 2,592 4,558 ---------- ---------- ---------- ---------- ---------- --------- --------- Total net charge-offs 7,284 4,246 10,578 12,572 16,352 22,108 22,046 ---------- ---------- ---------- ---------- ---------- --------- --------- Ending allowance for credit losses $ 158,831 $ 156,185 $ 144,274 $ 141,433 $ 145,201 $ 158,831 $ 145,201 ========== ========== ========== ========== ========== ========= ========= NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED) Commercial and industrial 0.54 % 0.21 % 0.29 % 0.74 % 1.02 % 0.35 % 0.43 % Lease financing 0.26 % 0.15 % (0.05) % 3.97 % 0.08 % 0.13 % 0.07 % Construction real estate 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % Commercial real estate 0.02 % (0.01) % 0.52 % (0.01) % 0.59 % 0.18 % 0.21 % Residential real estate 0.01 % (0.01) % 0.01 % 0.00 % (0.01) % 0.00 % (0.02) % Home equity (0.07) % 0.00 % (0.03) % 0.00 % (0.04) % (0.03) % (0.05) % Installment 3.03 % 4.81 % 5.33 % 4.57 % 3.05 % 4.42 % 3.08 % Credit card 4.13 % 2.94 % 4.59 % 1.49 % 1.82 % 3.88 % 1.48 % Total net charge-offs 0.25 % 0.15 % 0.38 % 0.46 % 0.61 % 0.26 % 0.28 % ========== ========== ========== ========== ========== ========= ========= COMPONENTS OF NONACCRUAL LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS Nonaccrual loans Commercial and industrial $ 10,703 $ 17,665 $ 14,532 $ 15,746 $ 17,152 $ 10,703 $ 17,152 Lease financing 11,632 5,374 3,794 3,610 7,731 11,632 7,731 Construction real estate 0 0 0 0 0 0 0 Commercial real estate 23,608 22,942 23,055 27,984 33,019 23,608 33,019 Residential real estate 14,596 12,715 12,836 14,067 12,328 14,596 12,328 Home equity 4,074 3,295 4,036 3,476 3,937 4,074 3,937 Installment 826 682 984 870 774 826 774 ---------- ---------- ---------- ---------- ---------- --------- --------- Total nonaccrual loans 65,439 62,673 59,237 65,753 74,941 65,439 74,941 Other real estate owned (OREO) 30 30 161 106 142 30 142 ---------- ---------- ---------- ---------- ---------- --------- --------- Total nonperforming assets 65,469 62,703 59,398 65,859 75,083 65,469 75,083 Accruing loans past due 90 days or more 463 1,573 820 2,028 698 463 698 ---------- ---------- ---------- ---------- ---------- --------- --------- Total underperforming assets $ 65,932 $ 64,276 $ 60,218 $ 67,887 $ 75,781 $ 65,932 $ 75,781 ========== ========== ========== ========== ========== ========= ========= Total classified assets $ 206,194 $ 195,277 $ 162,348 $ 140,995 $ 140,552 $ 206,194 $ 140,552 ========== ========== ========== ========== ========== ========= ========= CREDIT QUALITY RATIOS Allowance for credit losses to Nonaccrual loans 242.72 % 249.21 % 243.55 % 215.10 % 193.75 % 242.72 % 193.75 % Total ending loans 1.37 % 1.36 % 1.29 % 1.29 % 1.36 % 1.37 % 1.36 % Nonaccrual loans to total loans 0.57 % 0.54 % 0.53 % 0.60 % 0.70 % 0.57 % 0.70 % Nonperforming assets to Ending loans, plus OREO 0.57 % 0.54 % 0.53 % 0.60 % 0.71 % 0.57 % 0.71 % Total assets 0.36 % 0.35 % 0.34 % 0.38 % 0.44 % 0.36 % 0.44 % Classified assets to total assets 1.14 % 1.07 % 0.92 % 0.80 % 0.82 % 1.14 % 0.82 % FIRST FINANCIAL BANCORP. CAPITAL ADEQUACY (Dollars in thousands, except per share data) (Unaudited) Three Months Ended, Nine months ended, Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, Sep. 30, Sep. 30, 2024 2024 2024 2023 2023 2024 2023 ------------- ------------- ------------- ------------- ------------- ------------- ------------- PER COMMON SHARE Market Price High $ 28.09 $ 23.78 $ 23.68 $ 24.28 $ 24.02 $ 28.09 $ 26.24 Low $ 21.70 $ 20.79 $ 21.04 $ 17.37 $ 19.19 $ 20.79 $ 18.20 Close $ 25.23 $ 22.22 $ 22.42 $ 23.75 $ 19.60 $ 25.23 $ 19.60 Average shares outstanding - basic 94,473,666 94,438,235 94,218,067 94,063,570 94,030,275 94,377,010 93,896,716 Average shares outstanding - diluted 95,479,510 95,470,093 95,183,998 95,126,316 95,126,269 95,378,238 95,085,871 Ending shares outstanding 95,486,317 95,486,010 95,473,595 95,141,244 95,117,180 95,486,317 95,117,180 Total shareholders' equity $ 2,450,438 $ 2,326,439 $ 2,287,003 $ 2,267,974 $ 2,129,509 $ 2,450,438 $ 2,129,509 REGULATORY CAPITAL Preliminary Preliminary Common equity tier 1 capital $ 1,661,759 $ 1,626,345 $ 1,582,113 $ 1,568,815 $ 1,527,793 $ 1,661,759 $ 1,527,793 Common equity tier 1 capital ratio 12.04 % 11.78 % 11.67 % 11.73 % 11.60 % 12.04 % 11.60 % Tier 1 capital $ 1,706,796 $ 1,671,258 $ 1,626,899 $ 1,613,480 $ 1,572,248 $ 1,706,796 $ 1,572,248 Tier 1 ratio 12.37 % 12.11 % 12.00 % 12.06 % 11.94 % 12.37 % 11.94 % Total capital $ 2,012,349 $ 1,997,378 $ 1,940,762 $ 1,907,441 $ 1,868,490 $ 2,012,349 $ 1,868,490 Total capital ratio 14.58 % 14.47 % 14.31 % 14.26 % 14.19 % 14.58 % 14.19 % Total capital in excess of minimum requirement $ 563,592 $ 548,037 $ 516,704 $ 503,152 $ 485,580 $ 563,592 $ 485,580 Total risk-weighted assets $ 13,797,681 $ 13,803,249 $ 13,562,455 $ 13,374,177 $ 13,170,574 $ 13,797,681 $ 13,170,574 Leverage ratio 9.93 % 9.73 % 9.75 % 9.70 % 9.59 % 9.93 % 9.59 % OTHER CAPITAL RATIOS Ending shareholders' equity to ending assets 13.50 % 12.81 % 12.99 % 12.94 % 12.49 % 13.50 % 12.49 % Ending tangible shareholders' equity to ending tangible assets (1) 7.98 % 7.23 % 7.23 % 7.17 % 6.50 % 7.98 % 6.50 % Average shareholders' equity to average assets 13.28 % 12.87 % 13.09 % 12.52 % 12.70 % 13.08 % 12.53 % Average tangible shareholders' equity to average tangible assets (1) 7.64 % 7.15 % 7.25 % 6.57 % 6.69 % 7.35 % 6.49 % REPURCHASE PROGRAM (2) Shares repurchased 0 0 0 0 0 0 0 Average share N/A N/A N/A N/A N/A N/A N/A repurchase price Total cost of N/A N/A N/A N/A N/A N/A N/A shares repurchased (1) Non-GAAP measure. For details on the calculation of these non-GAAP financial measures and a reconciliation to the GAAP financial measure, see the sections titled "Use of Non-GAAP Financial Measures" in this release and "Appendix: Non-GAAP to GAAP Reconciliation" in the accompanying slide presentation. (2) Represents share repurchases as part of publicly announced plans. N/A = Not applicable

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