CINCINNATI, July 21, 2016 /PRNewswire/ -- First
Financial Bancorp (Nasdaq: FFBC) ("First Financial" or the
"Company") announced financial results for the second quarter
2016. For the three months ended June
30, 2016, the Company reported net income of $22.6 million, or $0.36 per diluted common share. These
results compare to net income of $19.8
million, or $0.32 per diluted
common share, for the first quarter of 2016 and $18.9 million, or $0.31 per diluted common share, for the second
quarter of 2015.
Return on average assets for the second quarter of 2016 was
1.11% while return on average tangible common equity was
14.49%. These compare to a return on average assets of 0.98%
and return on average tangible common equity of 13.06% in the first
quarter of 2016 and a return on average assets of 1.05% and a
return on average tangible common equity of 11.60% in the second
quarter of 2015.
Second quarter highlights include:
- Loan balances increased $196.6
million, or 14.4% on an annualized basis, from the linked
quarter
- Stable net interest margin of 3.61%; 3.67% on a fully tax
equivalent basis
- Other noninterest income included $2.4
million of previously unrealized income from the redemption
of a limited partnership investment and $0.2
million in losses on sales of investment securities
- Other noninterest expense included $0.2
million of expenses related to branch consolidation
activities
- Emphasis on expense management reflected in 56.6% efficiency
ratio for the quarter
- Provision expense increased $2.4
million as a result of strong loan growth and a moderate
increase in classified assets
Claude Davis, Chief Executive
Officer, commented, "We are pleased with another strong quarter of
results, which produced our 103rd consecutive
quarter of profitability. Strong demand in our metropolitan
markets and our specialty finance business resulted in loan growth
of 14.4% on an annualized basis during the quarter."
"In addition to strong loan growth during the period, our
results reflect a stable net interest margin, disciplined expense
management and a steady credit outlook. As we look forward,
we remain focused on executing our strategy and raising the
performance level of the Company."
The format of this release announcing our second quarter
financial results was updated to include an accompanying slide
presentation. Management intends to make reference to the
accompanying slides during the earnings conference call on
Friday, July 22, 2016.
Teleconference / Webcast Information
First Financial's
executive management will host a conference call to discuss the
Company's financial and operating results on Friday, July 22, 2016 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 10084369. 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 June 30, 2016, the Company had
$8.3 billion in assets, $5.7 billion in loans, $6.1 billion in deposits and $846.7 million in shareholders' equity. The
Company's subsidiary, First Financial Bank, N.A., founded in 1863,
provides banking and financial services products through its five
lines of business: commercial, consumer, wealth management,
specialty finance and mortgage. The commercial, consumer,
specialty finance and mortgage units provide traditional banking
services to business and retail clients. First Financial
Wealth Management provides wealth planning, portfolio management,
trust and estate, brokerage and retirement plan services and had
approximately $2.4 billion in assets
under management as of June 30, 2016. The Company's
strategic operating markets are located in Ohio, Indiana
and Kentucky where it operates 101
banking centers. Additional information about the Company,
including its products, services and banking locations is available
at www.bankatfirst.com.
Forward-Looking Statement
Certain statements contained
in this release which are not statements of historical fact
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act. Examples of
forward-looking statements include, but are not limited to,
projections of revenues, income or loss, earnings or loss per
share, the payment or non-payment of dividends, capital structure
and other financial items, statements of plans and objectives of
First Financial or its management or board of directors and
statements of future economic performances and statements of
assumptions underlying such statements. Words such as
''believes,'' ''anticipates,'' "likely," "expected," ''intends,''
and other similar expressions are intended to identify
forward-looking statements but are not the exclusive means of
identifying such statements. Management's analysis contains
forward-looking statements that are provided to assist in the
understanding of anticipated future financial performance.
However, such performance involves risks and uncertainties that may
cause actual results to differ materially. These factors
include, but are not limited to: economic, market, liquidity,
credit, interest rate, operational and technological risks
associated with the Company's business; the effect of and changes
in policies and laws or regulatory agencies (notably the recently
enacted Dodd-Frank Wall Street Reform and Consumer Protection Act);
management's ability to effectively execute its business plan;
mergers and acquisitions, including costs or difficulties related
to the integration of acquired companies; the Company's ability to
comply with the terms of loss sharing agreements with the FDIC; the
effect of changes in accounting policies and practices; and the
costs and effects of litigation and of unexpected or adverse
outcomes in such litigation. Please refer to the Company's
Annual Report on Form 10-K for the year ended December 31, 2015, as well as its other filings
with the SEC, for a more detailed discussion of these risks,
uncertainties and other factors that could cause actual results to
differ from those discussed in the forward-looking
statements. Such forward-looking statements are meaningful
only on the date when such statements are made, and the Company
undertakes no obligation to update any forward-looking statement to
reflect events or circumstances after the date on which such a
statement is made to reflect the occurrence of unanticipated
events.
FIRST FINANCIAL
BANCORP.
|
CONSOLIDATED
FINANCIAL HIGHLIGHTS
|
(Dollars in
thousands, except per share data)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended,
|
|
Six months
ended,
|
|
Jun. 30,
|
|
Mar. 31,
|
|
Dec. 31,
|
|
Sep. 30,
|
|
Jun. 30,
|
|
Jun. 30,
|
|
2016
|
|
2016
|
|
2015
|
|
2015
|
|
2015
|
|
2016
|
|
2015
|
RESULTS OF
OPERATIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$
|
22,568
|
|
|
$
|
19,814
|
|
|
$
|
19,820
|
|
|
$
|
18,673
|
|
|
$
|
18,949
|
|
|
$
|
42,382
|
|
|
$
|
36,570
|
|
Net earnings per
share - basic
|
$
|
0.37
|
|
|
$
|
0.32
|
|
|
$
|
0.33
|
|
|
$
|
0.31
|
|
|
$
|
0.31
|
|
|
$
|
0.69
|
|
|
$
|
0.60
|
|
Net earnings per
share - diluted
|
$
|
0.36
|
|
|
$
|
0.32
|
|
|
$
|
0.32
|
|
|
$
|
0.30
|
|
|
$
|
0.31
|
|
|
$
|
0.68
|
|
|
$
|
0.59
|
|
Dividends declared
per share
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
$
|
0.32
|
|
|
$
|
0.32
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KEY FINANCIAL
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
1.11
|
%
|
|
0.98
|
%
|
|
0.99
|
%
|
|
0.97
|
%
|
|
1.05
|
%
|
|
1.04
|
%
|
|
1.02
|
%
|
Return on average
shareholders' equity
|
10.84
|
%
|
|
9.70
|
%
|
|
9.62
|
%
|
|
9.12
|
%
|
|
9.49
|
%
|
|
10.27
|
%
|
|
9.28
|
%
|
Return on average
tangible shareholders' equity
|
14.49
|
%
|
|
13.06
|
%
|
|
12.98
|
%
|
|
12.33
|
%
|
|
11.60
|
%
|
|
13.78
|
%
|
|
11.36
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
margin
|
3.61
|
%
|
|
3.62
|
%
|
|
3.63
|
%
|
|
3.61
|
%
|
|
3.56
|
%
|
|
3.62
|
%
|
|
3.58
|
%
|
Net interest margin
(fully tax equivalent) (1)
|
3.67
|
%
|
|
3.68
|
%
|
|
3.69
|
%
|
|
3.67
|
%
|
|
3.62
|
%
|
|
3.67
|
%
|
|
3.64
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending shareholders'
equity as a percent of ending assets
|
10.19
|
%
|
|
10.09
|
%
|
|
9.93
|
%
|
|
10.32
|
%
|
|
10.87
|
%
|
|
10.19
|
%
|
|
10.87
|
%
|
Ending tangible
shareholders' equity as a percent of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending tangible
assets
|
7.85
|
%
|
|
7.71
|
%
|
|
7.53
|
%
|
|
7.84
|
%
|
|
9.08
|
%
|
|
7.85
|
%
|
|
9.08
|
%
|
Risk-weighted
assets
|
9.51
|
%
|
|
9.49
|
%
|
|
9.47
|
%
|
|
9.90
|
%
|
|
11.63
|
%
|
|
9.51
|
%
|
|
11.63
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average shareholders'
equity as a percent of average assets
|
10.21
|
%
|
|
10.12
|
%
|
|
10.29
|
%
|
|
10.67
|
%
|
|
11.05
|
%
|
|
10.16
|
%
|
|
11.00
|
%
|
Average tangible
shareholders' equity as a percent of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
average tangible assets
|
7.83
|
%
|
|
7.71
|
%
|
|
7.83
|
%
|
|
8.12
|
%
|
|
9.23
|
%
|
|
7.78
|
%
|
|
9.17
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Book value per
share
|
$
|
13.67
|
|
|
$
|
13.36
|
|
|
$
|
13.13
|
|
|
$
|
13.17
|
|
|
$
|
13.00
|
|
|
$
|
13.67
|
|
|
$
|
13.00
|
|
Tangible book value
per share
|
$
|
10.26
|
|
|
$
|
9.94
|
|
|
$
|
9.69
|
|
|
$
|
9.74
|
|
|
$
|
10.65
|
|
|
$
|
10.26
|
|
|
$
|
10.65
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common equity tier 1
ratio (2)
|
10.07
|
%
|
|
10.16
|
%
|
|
10.28
|
%
|
|
10.51
|
%
|
|
12.34
|
%
|
|
10.07
|
%
|
|
12.34
|
%
|
Tier 1 ratio
(2)
|
10.07
|
%
|
|
10.16
|
%
|
|
10.29
|
%
|
|
10.52
|
%
|
|
12.35
|
%
|
|
10.07
|
%
|
|
12.35
|
%
|
Total capital ratio
(2)
|
12.70
|
%
|
|
12.84
|
%
|
|
13.04
|
%
|
|
13.37
|
%
|
|
13.31
|
%
|
|
12.70
|
%
|
|
13.31
|
%
|
Leverage ratio
(2)
|
8.38
|
%
|
|
8.27
|
%
|
|
8.33
|
%
|
|
8.58
|
%
|
|
9.77
|
%
|
|
8.38
|
%
|
|
9.77
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE BALANCE
SHEET ITEMS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
(3)
|
$
|
5,569,080
|
|
|
$
|
5,417,812
|
|
|
$
|
5,248,465
|
|
|
$
|
5,032,708
|
|
|
$
|
4,793,471
|
|
|
$
|
5,493,446
|
|
|
$
|
4,782,134
|
|
FDIC indemnification
asset
|
15,404
|
|
|
17,138
|
|
|
18,437
|
|
|
19,848
|
|
|
20,744
|
|
|
16,271
|
|
|
21,424
|
|
Investment
securities
|
1,869,540
|
|
|
1,938,772
|
|
|
1,934,173
|
|
|
1,848,083
|
|
|
1,782,785
|
|
|
1,904,156
|
|
|
1,772,759
|
|
Interest-bearing
deposits with other banks
|
21,687
|
|
|
24,291
|
|
|
18,920
|
|
|
37,468
|
|
|
19,960
|
|
|
22,989
|
|
|
20,604
|
|
Total earning
assets
|
$
|
7,475,711
|
|
|
$
|
7,398,013
|
|
|
$
|
7,219,995
|
|
|
$
|
6,938,107
|
|
|
$
|
6,616,960
|
|
|
$
|
7,436,862
|
|
|
$
|
6,596,921
|
|
Total
assets
|
$
|
8,203,837
|
|
|
$
|
8,118,945
|
|
|
$
|
7,950,278
|
|
|
$
|
7,611,389
|
|
|
$
|
7,243,886
|
|
|
$
|
8,161,391
|
|
|
$
|
7,222,717
|
|
Noninterest-bearing
deposits
|
$
|
1,441,068
|
|
|
$
|
1,386,768
|
|
|
$
|
1,402,283
|
|
|
$
|
1,344,049
|
|
|
$
|
1,325,485
|
|
|
$
|
1,413,918
|
|
|
$
|
1,305,885
|
|
Interest-bearing
deposits
|
4,867,439
|
|
|
4,749,253
|
|
|
4,845,056
|
|
|
4,615,886
|
|
|
4,446,248
|
|
|
4,808,346
|
|
|
4,404,121
|
|
Total
deposits
|
$
|
6,308,507
|
|
|
$
|
6,136,021
|
|
|
$
|
6,247,339
|
|
|
$
|
5,959,935
|
|
|
$
|
5,771,733
|
|
|
$
|
6,222,264
|
|
|
$
|
5,710,006
|
|
Borrowings
|
$
|
965,951
|
|
|
$
|
1,065,739
|
|
|
$
|
763,408
|
|
|
$
|
746,706
|
|
|
$
|
587,225
|
|
|
$
|
1,015,845
|
|
|
$
|
638,832
|
|
Shareholders'
equity
|
$
|
837,412
|
|
|
$
|
821,588
|
|
|
$
|
817,756
|
|
|
$
|
812,396
|
|
|
$
|
800,598
|
|
|
$
|
829,500
|
|
|
$
|
794,588
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDIT QUALITY
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance to ending
loans
|
0.99
|
%
|
|
0.98
|
%
|
|
0.99
|
%
|
|
1.02
|
%
|
|
1.09
|
%
|
|
0.99
|
%
|
|
1.09
|
%
|
Allowance to
nonaccrual loans
|
254.56
|
%
|
|
244.16
|
%
|
|
190.73
|
%
|
|
149.33
|
%
|
|
133.28
|
%
|
|
254.56
|
%
|
|
133.28
|
%
|
Allowance to
nonperforming loans
|
112.74
|
%
|
|
103.07
|
%
|
|
93.89
|
%
|
|
95.34
|
%
|
|
88.49
|
%
|
|
112.74
|
%
|
|
88.49
|
%
|
Nonperforming loans
to total loans
|
0.88
|
%
|
|
0.95
|
%
|
|
1.06
|
%
|
|
1.07
|
%
|
|
1.23
|
%
|
|
0.88
|
%
|
|
1.23
|
%
|
Nonperforming assets
to ending loans, plus OREO
|
1.04
|
%
|
|
1.16
|
%
|
|
1.30
|
%
|
|
1.36
|
%
|
|
1.56
|
%
|
|
1.04
|
%
|
|
1.56
|
%
|
Nonperforming assets
to total assets
|
0.72
|
%
|
|
0.78
|
%
|
|
0.86
|
%
|
|
0.90
|
%
|
|
1.03
|
%
|
|
0.72
|
%
|
|
1.03
|
%
|
Net charge-offs to
average loans (annualized)
|
0.08
|
%
|
|
0.10
|
%
|
|
0.14
|
%
|
|
0.17
|
%
|
|
0.27
|
%
|
|
0.09
|
%
|
|
0.23
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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) June 30,
2016 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,
|
|
Six months
ended,
|
|
Jun. 30,
|
|
Jun. 30,
|
|
2016
|
|
2015
|
|
% Change
|
|
2016
|
|
2015
|
|
% Change
|
Interest
income
|
|
|
|
|
|
|
|
|
|
|
|
Loans,
including fees
|
$
|
64,424
|
|
|
$
|
54,586
|
|
|
18.0
|
%
|
|
$
|
127,823
|
|
|
$
|
109,050
|
|
|
17.2
|
%
|
Investment
securities
|
|
|
|
|
|
|
|
|
|
|
|
Taxable
|
10,706
|
|
|
9,281
|
|
|
15.4
|
%
|
|
22,079
|
|
|
18,889
|
|
|
16.9
|
%
|
Tax-exempt
|
1,156
|
|
|
1,139
|
|
|
1.5
|
%
|
|
2,318
|
|
|
2,256
|
|
|
2.7
|
%
|
Total
investment securities interest
|
11,862
|
|
|
10,420
|
|
|
13.8
|
%
|
|
24,397
|
|
|
21,145
|
|
|
15.4
|
%
|
Other earning
assets
|
(1,103)
|
|
|
(1,162)
|
|
|
5.1
|
%
|
|
(2,242)
|
|
|
(2,343)
|
|
|
(4.3)
|
%
|
Total interest
income
|
75,183
|
|
|
63,844
|
|
|
17.8
|
%
|
|
149,978
|
|
|
127,852
|
|
|
17.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
5,457
|
|
|
4,621
|
|
|
18.1
|
%
|
|
10,987
|
|
|
9,441
|
|
|
16.4
|
%
|
Short-term
borrowings
|
1,053
|
|
|
253
|
|
|
316.2
|
%
|
|
2,223
|
|
|
556
|
|
|
299.8
|
%
|
Long-term
borrowings
|
1,541
|
|
|
296
|
|
|
420.6
|
%
|
|
3,081
|
|
|
595
|
|
|
417.8
|
%
|
Total interest
expense
|
8,051
|
|
|
5,170
|
|
|
55.7
|
%
|
|
16,291
|
|
|
10,592
|
|
|
53.8
|
%
|
Net interest
income
|
67,132
|
|
|
58,674
|
|
|
14.4
|
%
|
|
133,687
|
|
|
117,260
|
|
|
14.0
|
%
|
Provision for
loan and lease losses
|
4,037
|
|
|
3,070
|
|
|
31.5
|
%
|
|
5,692
|
|
|
5,130
|
|
|
11.0
|
%
|
Net interest income
after provision for loan and lease losses
|
63,095
|
|
|
55,604
|
|
|
13.5
|
%
|
|
127,995
|
|
|
112,130
|
|
|
14.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
income
|
|
|
|
|
|
|
|
|
|
|
|
Service
charges on deposit accounts
|
4,455
|
|
|
4,803
|
|
|
(7.2)
|
%
|
|
8,836
|
|
|
9,326
|
|
|
(5.3)
|
%
|
Trust and
wealth management fees
|
3,283
|
|
|
3,274
|
|
|
0.3
|
%
|
|
6,723
|
|
|
6,908
|
|
|
(2.7)
|
%
|
Bankcard
income
|
3,130
|
|
|
2,972
|
|
|
5.3
|
%
|
|
6,012
|
|
|
5,592
|
|
|
7.5
|
%
|
Client
derivative fees
|
1,799
|
|
|
878
|
|
|
104.9
|
%
|
|
2,894
|
|
|
1,840
|
|
|
57.3
|
%
|
Net gains from
sales of loans
|
1,846
|
|
|
1,924
|
|
|
(4.1)
|
%
|
|
3,027
|
|
|
3,388
|
|
|
(10.7)
|
%
|
Net gain on
sale of investment securities
|
(188)
|
|
|
1,094
|
|
|
(117.2)
|
%
|
|
(164)
|
|
|
1,094
|
|
|
(115.0)
|
%
|
FDIC loss
sharing income
|
59
|
|
|
(304)
|
|
|
(119.4)
|
%
|
|
(506)
|
|
|
(1,350)
|
|
|
(62.5)
|
%
|
Accelerated
discount on covered / formerly covered loans
|
1,191
|
|
|
4,094
|
|
|
(70.9)
|
%
|
|
2,162
|
|
|
6,186
|
|
|
(65.1)
|
%
|
Other
|
4,619
|
|
|
2,680
|
|
|
72.4
|
%
|
|
6,722
|
|
|
6,044
|
|
|
11.2
|
%
|
Total noninterest
income
|
20,194
|
|
|
21,415
|
|
|
(5.7)%
|
|
|
35,706
|
|
|
39,028
|
|
|
(8.5)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
expenses
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and
employee benefits
|
29,526
|
|
|
27,451
|
|
|
7.6
|
%
|
|
59,141
|
|
|
54,392
|
|
|
8.7
|
%
|
Net
occupancy
|
4,491
|
|
|
4,380
|
|
|
2.5
|
%
|
|
9,448
|
|
|
9,385
|
|
|
0.7
|
%
|
Furniture and
equipment
|
2,130
|
|
|
2,219
|
|
|
(4.0)
|
%
|
|
4,343
|
|
|
4,372
|
|
|
(0.7)
|
%
|
Data
processing
|
2,765
|
|
|
2,657
|
|
|
4.1
|
%
|
|
5,483
|
|
|
5,429
|
|
|
1.0
|
%
|
Marketing
|
801
|
|
|
973
|
|
|
(17.7)
|
%
|
|
1,866
|
|
|
1,861
|
|
|
0.3
|
%
|
Communication
|
477
|
|
|
558
|
|
|
(14.5)
|
%
|
|
958
|
|
|
1,128
|
|
|
(15.1)
|
%
|
Professional
services
|
1,299
|
|
|
1,727
|
|
|
(24.8)
|
%
|
|
3,112
|
|
|
3,697
|
|
|
(15.8)
|
%
|
State
intangible tax
|
639
|
|
|
577
|
|
|
10.7
|
%
|
|
1,278
|
|
|
1,154
|
|
|
10.7
|
%
|
FDIC
assessments
|
1,112
|
|
|
1,114
|
|
|
(0.2)
|
%
|
|
2,244
|
|
|
2,204
|
|
|
1.8
|
%
|
Loss (gain) -
other real estate owned
|
43
|
|
|
419
|
|
|
(89.7)
|
%
|
|
(147)
|
|
|
893
|
|
|
(116.5)
|
%
|
Loss sharing
expense
|
(12)
|
|
|
576
|
|
|
(102.1)
|
%
|
|
285
|
|
|
877
|
|
|
(67.5)
|
%
|
Other
|
6,142
|
|
|
6,135
|
|
|
0.1
|
%
|
|
12,122
|
|
|
11,462
|
|
|
5.8
|
%
|
Total noninterest
expenses
|
49,413
|
|
|
48,786
|
|
|
1.3
|
%
|
|
100,133
|
|
|
96,854
|
|
|
3.4
|
%
|
Income before income
taxes
|
33,876
|
|
|
28,233
|
|
|
20.0
|
%
|
|
63,568
|
|
|
54,304
|
|
|
17.1
|
%
|
Income tax
expense
|
11,308
|
|
|
9,284
|
|
|
21.8
|
%
|
|
21,186
|
|
|
17,734
|
|
|
19.5
|
%
|
Net income
|
$
|
22,568
|
|
|
$
|
18,949
|
|
|
19.1
|
%
|
|
$
|
42,382
|
|
|
$
|
36,570
|
|
|
15.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
ADDITIONAL
DATA
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share - basic
|
$
|
0.37
|
|
|
$
|
0.31
|
|
|
|
|
$
|
0.69
|
|
|
$
|
0.60
|
|
|
|
Net earnings per
share - diluted
|
$
|
0.36
|
|
|
$
|
0.31
|
|
|
|
|
$
|
0.68
|
|
|
$
|
0.59
|
|
|
|
Dividends declared
per share
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
|
|
$
|
0.32
|
|
|
$
|
0.32
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
1.11
|
%
|
|
1.05
|
%
|
|
|
|
1.04
|
%
|
|
1.02
|
%
|
|
|
Return on average
shareholders' equity
|
10.84
|
%
|
|
9.49
|
%
|
|
|
|
10.27
|
%
|
|
9.28
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
$
|
75,183
|
|
|
$
|
63,844
|
|
|
17.8
|
%
|
|
$
|
149,978
|
|
|
$
|
127,852
|
|
|
17.3
|
%
|
Tax equivalent
adjustment
|
1,058
|
|
|
988
|
|
|
7.1
|
%
|
|
2,110
|
|
|
1,971
|
|
|
7.1
|
%
|
Interest
income - tax equivalent
|
76,241
|
|
|
64,832
|
|
|
17.6
|
%
|
|
152,088
|
|
|
129,823
|
|
|
17.2
|
%
|
Interest
expense
|
8,051
|
|
|
5,170
|
|
|
55.7
|
%
|
|
16,291
|
|
|
10,592
|
|
|
53.8
|
%
|
Net
interest income - tax equivalent
|
$
|
68,190
|
|
|
$
|
59,662
|
|
|
14.3
|
%
|
|
$
|
135,797
|
|
|
$
|
119,231
|
|
|
13.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
margin
|
3.61
|
%
|
|
3.56
|
%
|
|
|
|
3.62
|
%
|
|
3.58
|
%
|
|
|
Net interest margin
(fully tax equivalent) (1)
|
3.67
|
%
|
|
3.62
|
%
|
|
|
|
3.67
|
%
|
|
3.64
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Full-time equivalent
employees
|
1,403
|
|
|
1,366
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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
|
|
|
Second
|
|
First
|
|
Full
|
|
% Change
|
|
|
Quarter
|
|
Quarter
|
|
Year
|
|
Linked
Qtr.
|
Interest
income
|
|
|
|
|
|
|
|
|
Loans,
including fees
|
|
$
|
64,424
|
|
|
$
|
63,399
|
|
|
$
|
127,823
|
|
|
1.6
|
%
|
Investment
securities
|
|
|
|
|
|
|
|
|
Taxable
|
|
10,706
|
|
|
11,373
|
|
|
22,079
|
|
|
(5.9)
|
%
|
Tax-exempt
|
|
1,156
|
|
|
1,162
|
|
|
2,318
|
|
|
(0.5)
|
%
|
Total
investment securities interest
|
|
11,862
|
|
|
12,535
|
|
|
24,397
|
|
|
(5.4)
|
%
|
Other earning
assets
|
|
(1,103)
|
|
|
(1,139)
|
|
|
(2,242)
|
|
|
3.2
|
%
|
Total interest
income
|
|
75,183
|
|
|
74,795
|
|
|
149,978
|
|
|
0.5
|
%
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
|
|
|
|
|
|
Deposits
|
|
5,457
|
|
|
5,530
|
|
|
10,987
|
|
|
(1.3)
|
%
|
Short-term
borrowings
|
|
1,053
|
|
|
1,170
|
|
|
2,223
|
|
|
(10.0)
|
%
|
Long-term
borrowings
|
|
1,541
|
|
|
1,540
|
|
|
3,081
|
|
|
0.1
|
%
|
Total interest
expense
|
|
8,051
|
|
|
8,240
|
|
|
16,291
|
|
|
(2.3)
|
%
|
Net interest
income
|
|
67,132
|
|
|
66,555
|
|
|
133,687
|
|
|
0.9
|
%
|
Provision for
loan and lease losses
|
|
4,037
|
|
|
1,655
|
|
|
5,692
|
|
|
143.9
|
%
|
Net interest income
after provision for loan and lease losses
|
|
63,095
|
|
|
64,900
|
|
|
127,995
|
|
|
(2.8)
|
%
|
|
|
|
|
|
|
|
|
|
Noninterest
income
|
|
|
|
|
|
|
|
|
Service
charges on deposit accounts
|
|
4,455
|
|
|
4,381
|
|
|
8,836
|
|
|
1.7
|
%
|
Trust and
wealth management fees
|
|
3,283
|
|
|
3,440
|
|
|
6,723
|
|
|
(4.6)
|
%
|
Bankcard
income
|
|
3,130
|
|
|
2,882
|
|
|
6,012
|
|
|
8.6
|
%
|
Client
derivative fees
|
|
1,799
|
|
|
1,095
|
|
|
2,894
|
|
|
64.3
|
%
|
Net gains from
sales of loans
|
|
1,846
|
|
|
1,181
|
|
|
3,027
|
|
|
56.3
|
%
|
Net gain on
sale of investment securities
|
|
(188)
|
|
|
24
|
|
|
(164)
|
|
|
100.0
|
%
|
FDIC loss
sharing income
|
|
59
|
|
|
(565)
|
|
|
(506)
|
|
|
(110.4)
|
%
|
Accelerated
discount on covered / formerly covered loans
|
|
1,191
|
|
|
971
|
|
|
2,162
|
|
|
22.7
|
%
|
Other
|
|
4,619
|
|
|
2,103
|
|
|
6,722
|
|
|
119.6
|
%
|
Total noninterest
income
|
|
20,194
|
|
|
15,512
|
|
|
35,706
|
|
|
30.2
|
%
|
|
|
|
|
|
|
|
|
|
Noninterest
expenses
|
|
|
|
|
|
|
|
|
Salaries and
employee benefits
|
|
29,526
|
|
|
29,615
|
|
|
59,141
|
|
|
(0.3)
|
%
|
Net
occupancy
|
|
4,491
|
|
|
4,957
|
|
|
9,448
|
|
|
(9.4)
|
%
|
Furniture and
equipment
|
|
2,130
|
|
|
2,213
|
|
|
4,343
|
|
|
(3.8)
|
%
|
Data
processing
|
|
2,765
|
|
|
2,718
|
|
|
5,483
|
|
|
1.7
|
%
|
Marketing
|
|
801
|
|
|
1,065
|
|
|
1,866
|
|
|
(24.8)
|
%
|
Communication
|
|
477
|
|
|
481
|
|
|
958
|
|
|
(0.8)
|
%
|
Professional
services
|
|
1,299
|
|
|
1,813
|
|
|
3,112
|
|
|
(28.4)
|
%
|
State
intangible tax
|
|
639
|
|
|
639
|
|
|
1,278
|
|
|
0.0
|
%
|
FDIC
assessments
|
|
1,112
|
|
|
1,132
|
|
|
2,244
|
|
|
(1.8)
|
%
|
Loss (gain) -
other real estate owned
|
|
43
|
|
|
(190)
|
|
|
(147)
|
|
|
(122.6)
|
%
|
Loss sharing
expense
|
|
(12)
|
|
|
297
|
|
|
285
|
|
|
(104.0)
|
%
|
Other
|
|
6,142
|
|
|
5,980
|
|
|
12,122
|
|
|
2.7
|
%
|
Total noninterest
expenses
|
|
49,413
|
|
|
50,720
|
|
|
100,133
|
|
|
(2.6)
|
%
|
Income before income
taxes
|
|
33,876
|
|
|
29,692
|
|
|
63,568
|
|
|
14.1
|
%
|
Income tax
expense
|
|
11,308
|
|
|
9,878
|
|
|
21,186
|
|
|
14.5
|
%
|
Net income
|
|
$
|
22,568
|
|
|
$
|
19,814
|
|
|
$
|
42,382
|
|
|
13.9
|
%
|
|
|
|
|
|
|
|
|
|
ADDITIONAL
DATA
|
|
|
|
|
|
|
|
|
Net earnings per
share - basic
|
|
$
|
0.37
|
|
|
$
|
0.32
|
|
|
$
|
0.69
|
|
|
|
Net earnings per
share - diluted
|
|
$
|
0.36
|
|
|
$
|
0.32
|
|
|
$
|
0.68
|
|
|
|
Dividends declared
per share
|
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
$
|
0.32
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
|
1.11
|
%
|
|
0.98
|
%
|
|
1.04
|
%
|
|
|
Return on average
shareholders' equity
|
|
10.84
|
%
|
|
9.70
|
%
|
|
10.27
|
%
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
$
|
75,183
|
|
|
$
|
74,795
|
|
|
$
|
149,978
|
|
|
0.5
|
%
|
Tax equivalent
adjustment
|
|
1,058
|
|
|
1,052
|
|
|
2,110
|
|
|
0.6
|
%
|
Interest
income - tax equivalent
|
|
76,241
|
|
|
75,847
|
|
|
152,088
|
|
|
0.5
|
%
|
Interest
expense
|
|
8,051
|
|
|
8,240
|
|
|
16,291
|
|
|
(2.3)
|
%
|
Net
interest income - tax equivalent
|
|
$
|
68,190
|
|
|
$
|
67,607
|
|
|
$
|
135,797
|
|
|
0.9
|
%
|
|
|
|
|
|
|
|
|
|
Net interest
margin
|
|
3.61
|
%
|
|
3.62
|
%
|
|
3.62
|
%
|
|
|
Net interest margin
(fully tax equivalent) (1)
|
|
3.67
|
%
|
|
3.68
|
%
|
|
3.67
|
%
|
|
|
|
|
|
|
|
|
|
|
|
Full-time equivalent
employees
|
|
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.
|
N/M = Not
meaningful.
|
|
|
|
|
|
|
|
|
FIRST FINANCIAL
BANCORP.
|
CONSOLIDATED
QUARTERLY STATEMENTS OF INCOME
|
(Dollars in
thousands, except per share data)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
Fourth
|
|
Third
|
|
Second
|
|
First
|
|
Full
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Year
|
Interest
income
|
|
|
|
|
|
|
|
|
|
Loans,
including fees
|
$
|
62,502
|
|
|
$
|
58,694
|
|
|
$
|
54,586
|
|
|
$
|
54,464
|
|
|
$
|
230,246
|
|
Investment
securities
|
|
|
|
|
|
|
|
|
|
Taxable
|
10,702
|
|
|
9,986
|
|
|
9,281
|
|
|
9,608
|
|
|
39,577
|
|
Tax-exempt
|
1,192
|
|
|
1,163
|
|
|
1,139
|
|
|
1,117
|
|
|
4,611
|
|
Total
investment securities interest
|
11,894
|
|
|
11,149
|
|
|
10,420
|
|
|
10,725
|
|
|
44,188
|
|
Other earning
assets
|
(1,164)
|
|
|
(1,168)
|
|
|
(1,162)
|
|
|
(1,181)
|
|
|
(4,675)
|
|
Total interest
income
|
73,232
|
|
|
68,675
|
|
|
63,844
|
|
|
64,008
|
|
|
269,759
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
|
|
|
|
|
|
|
Deposits
|
5,172
|
|
|
4,861
|
|
|
4,621
|
|
|
4,820
|
|
|
19,474
|
|
Short-term
borrowings
|
434
|
|
|
374
|
|
|
253
|
|
|
303
|
|
|
1,364
|
|
Long-term
borrowings
|
1,543
|
|
|
281
|
|
|
296
|
|
|
299
|
|
|
2,419
|
|
Total interest
expense
|
7,149
|
|
|
5,516
|
|
|
5,170
|
|
|
5,422
|
|
|
23,257
|
|
Net interest
income
|
66,083
|
|
|
63,159
|
|
|
58,674
|
|
|
58,586
|
|
|
246,502
|
|
Provision for
loan and lease losses
|
1,864
|
|
|
2,647
|
|
|
3,070
|
|
|
2,060
|
|
|
9,641
|
|
Net interest income
after provision for loan and lease losses
|
64,219
|
|
|
60,512
|
|
|
55,604
|
|
|
56,526
|
|
|
236,861
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
income
|
|
|
|
|
|
|
|
|
|
Service
charges on deposit accounts
|
4,755
|
|
|
4,934
|
|
|
4,803
|
|
|
4,523
|
|
|
19,015
|
|
Trust and
wealth management fees
|
3,086
|
|
|
3,134
|
|
|
3,274
|
|
|
3,634
|
|
|
13,128
|
|
Bankcard
income
|
3,077
|
|
|
2,909
|
|
|
2,972
|
|
|
2,620
|
|
|
11,578
|
|
Client
derivative fees
|
945
|
|
|
1,604
|
|
|
878
|
|
|
962
|
|
|
4,389
|
|
Net gains from
sales of loans
|
1,325
|
|
|
1,758
|
|
|
1,924
|
|
|
1,464
|
|
|
6,471
|
|
Net gain on
sale of investment securities
|
2
|
|
|
409
|
|
|
1,094
|
|
|
0
|
|
|
1,505
|
|
FDIC loss
sharing income
|
(164)
|
|
|
(973)
|
|
|
(304)
|
|
|
(1,046)
|
|
|
(2,487)
|
|
Accelerated
discount on covered / formerly covered loans
|
785
|
|
|
3,820
|
|
|
4,094
|
|
|
2,092
|
|
|
10,791
|
|
Other
|
2,008
|
|
|
2,760
|
|
|
2,680
|
|
|
3,364
|
|
|
10,812
|
|
Total noninterest
income
|
15,819
|
|
|
20,355
|
|
|
21,415
|
|
|
17,613
|
|
|
75,202
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
expenses
|
|
|
|
|
|
|
|
|
|
Salaries and
employee benefits
|
29,632
|
|
|
27,768
|
|
|
27,451
|
|
|
26,941
|
|
|
111,792
|
|
Net
occupancy
|
4,337
|
|
|
4,510
|
|
|
4,380
|
|
|
5,005
|
|
|
18,232
|
|
Furniture and
equipment
|
2,185
|
|
|
2,165
|
|
|
2,219
|
|
|
2,153
|
|
|
8,722
|
|
Data
processing
|
2,843
|
|
|
2,591
|
|
|
2,657
|
|
|
2,772
|
|
|
10,863
|
|
Marketing
|
1,052
|
|
|
810
|
|
|
973
|
|
|
888
|
|
|
3,723
|
|
Communication
|
502
|
|
|
531
|
|
|
558
|
|
|
570
|
|
|
2,161
|
|
Professional
services
|
1,833
|
|
|
4,092
|
|
|
1,727
|
|
|
1,970
|
|
|
9,622
|
|
State
intangible tax
|
598
|
|
|
579
|
|
|
577
|
|
|
577
|
|
|
2,331
|
|
FDIC
assessments
|
1,139
|
|
|
1,103
|
|
|
1,114
|
|
|
1,090
|
|
|
4,446
|
|
Loss (gain) -
other real estate owned
|
772
|
|
|
196
|
|
|
419
|
|
|
474
|
|
|
1,861
|
|
Loss sharing
expense
|
414
|
|
|
574
|
|
|
576
|
|
|
301
|
|
|
1,865
|
|
Other
|
5,977
|
|
|
8,073
|
|
|
6,135
|
|
|
5,327
|
|
|
25,512
|
|
Total noninterest
expenses
|
51,284
|
|
|
52,992
|
|
|
48,786
|
|
|
48,068
|
|
|
201,130
|
|
Income before income
taxes
|
28,754
|
|
|
27,875
|
|
|
28,233
|
|
|
26,071
|
|
|
110,933
|
|
Income tax
expense
|
8,934
|
|
|
9,202
|
|
|
9,284
|
|
|
8,450
|
|
|
35,870
|
|
Net income
|
$
|
19,820
|
|
|
$
|
18,673
|
|
|
$
|
18,949
|
|
|
$
|
17,621
|
|
|
$
|
75,063
|
|
|
|
|
|
|
|
|
|
|
|
ADDITIONAL
DATA
|
|
|
|
|
|
|
|
|
|
Net earnings per
share - basic
|
$
|
0.33
|
|
|
$
|
0.31
|
|
|
$
|
0.31
|
|
|
$
|
0.29
|
|
|
$
|
1.23
|
|
Net earnings per
share - diluted
|
$
|
0.32
|
|
|
$
|
0.30
|
|
|
$
|
0.31
|
|
|
$
|
0.29
|
|
|
$
|
1.21
|
|
Dividends declared
per share
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
$
|
0.16
|
|
|
$
|
0.64
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
0.99
|
%
|
|
0.97
|
%
|
|
1.05
|
%
|
|
0.99
|
%
|
|
1.00
|
%
|
Return on average
shareholders' equity
|
9.62
|
%
|
|
9.12
|
%
|
|
9.49
|
%
|
|
9.06
|
%
|
|
9.33
|
%
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
$
|
73,232
|
|
|
$
|
68,675
|
|
|
$
|
63,844
|
|
|
$
|
64,008
|
|
|
$
|
269,759
|
|
Tax equivalent
adjustment
|
1,046
|
|
|
1,000
|
|
|
988
|
|
|
983
|
|
|
4,017
|
|
Interest
income - tax equivalent
|
74,278
|
|
|
69,675
|
|
|
64,832
|
|
|
64,991
|
|
|
273,776
|
|
Interest
expense
|
7,149
|
|
|
5,516
|
|
|
5,170
|
|
|
5,422
|
|
|
23,257
|
|
Net
interest income - tax equivalent
|
$
|
67,129
|
|
|
$
|
64,159
|
|
|
$
|
59,662
|
|
|
$
|
59,569
|
|
|
$
|
250,519
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
margin
|
3.63
|
%
|
|
3.61
|
%
|
|
3.56
|
%
|
|
3.61
|
%
|
|
3.60
|
%
|
Net interest margin
(fully tax equivalent) (1)
|
3.69
|
%
|
|
3.67
|
%
|
|
3.62
|
%
|
|
3.67
|
%
|
|
3.66
|
%
|
|
|
|
|
|
|
|
|
|
|
Full-time equivalent
employees
|
1,400
|
|
|
1,394
|
|
|
1,366
|
|
|
1,353
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jun. 30,
|
|
Mar. 31,
|
|
Dec. 31,
|
|
Sep. 30,
|
|
Jun. 30,
|
|
% Change
|
|
% Change
|
|
2016
|
|
2016
|
|
2015
|
|
2015
|
|
2015
|
|
Linked
Qtr.
|
|
Comparable
Qtr.
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due from
banks
|
$
|
106,174
|
|
|
$
|
102,675
|
|
|
$
|
114,841
|
|
|
$
|
112,298
|
|
|
$
|
116,318
|
|
|
3.4
|
%
|
|
(8.7)
|
%
|
Interest-bearing deposits
with other banks
|
18,911
|
|
|
15,582
|
|
|
33,734
|
|
|
24,191
|
|
|
41,027
|
|
|
21.4
|
%
|
|
(53.9)
|
%
|
Investment securities
available-for-sale
|
1,114,349
|
|
|
1,164,319
|
|
|
1,190,642
|
|
|
1,069,667
|
|
|
955,764
|
|
|
(4.3)
|
%
|
|
16.6
|
%
|
Investment securities
held-to-maturity
|
670,111
|
|
|
702,315
|
|
|
726,259
|
|
|
756,035
|
|
|
791,839
|
|
|
(4.6)
|
%
|
|
(15.4)
|
%
|
Other investments
|
51,261
|
|
|
53,255
|
|
|
53,725
|
|
|
53,431
|
|
|
53,585
|
|
|
(3.7)
|
%
|
|
(4.3)
|
%
|
Loans held for
sale
|
10,494
|
|
|
15,369
|
|
|
20,957
|
|
|
26,287
|
|
|
21,151
|
|
|
(31.7)
|
%
|
|
(50.4)
|
%
|
Loans and leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
1,794,533
|
|
|
1,744,732
|
|
|
1,663,102
|
|
|
1,637,467
|
|
|
1,315,087
|
|
|
2.9
|
%
|
|
36.5
|
%
|
Lease
financing
|
100,263
|
|
|
101,135
|
|
|
93,986
|
|
|
82,679
|
|
|
84,723
|
|
|
(0.9)
|
%
|
|
18.3
|
%
|
Construction -
real estate
|
374,949
|
|
|
341,453
|
|
|
311,712
|
|
|
276,240
|
|
|
229,256
|
|
|
9.8
|
%
|
|
63.6
|
%
|
Commercial -
real estate
|
2,363,456
|
|
|
2,261,857
|
|
|
2,258,297
|
|
|
2,169,662
|
|
|
2,171,806
|
|
|
4.5
|
%
|
|
8.8
|
%
|
Residential -
real estate
|
512,800
|
|
|
508,512
|
|
|
512,311
|
|
|
506,653
|
|
|
506,391
|
|
|
0.8
|
%
|
|
1.3
|
%
|
Home
equity
|
467,549
|
|
|
466,010
|
|
|
466,629
|
|
|
463,629
|
|
|
463,222
|
|
|
0.3
|
%
|
|
0.9
|
%
|
Installment
|
46,917
|
|
|
41,627
|
|
|
41,506
|
|
|
39,974
|
|
|
43,073
|
|
|
12.7
|
%
|
|
8.9
|
%
|
Credit
card
|
40,746
|
|
|
39,283
|
|
|
41,217
|
|
|
39,759
|
|
|
39,216
|
|
|
3.7
|
%
|
|
3.9
|
%
|
Total loans
|
5,701,213
|
|
|
5,504,609
|
|
|
5,388,760
|
|
|
5,216,063
|
|
|
4,852,774
|
|
|
3.6
|
%
|
|
17.5
|
%
|
Less
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses
|
56,708
|
|
|
53,732
|
|
|
53,398
|
|
|
53,332
|
|
|
52,876
|
|
|
5.5
|
%
|
|
7.2
|
%
|
Net loans
|
5,644,505
|
|
|
5,450,877
|
|
|
5,335,362
|
|
|
5,162,731
|
|
|
4,799,898
|
|
|
3.6
|
%
|
|
17.6
|
%
|
Premises and
equipment
|
133,969
|
|
|
138,036
|
|
|
136,603
|
|
|
139,020
|
|
|
139,170
|
|
|
(2.9)
|
%
|
|
(3.7)
|
%
|
Goodwill and other
intangibles
|
211,199
|
|
|
211,533
|
|
|
211,865
|
|
|
211,732
|
|
|
145,465
|
|
|
(0.2)
|
%
|
|
45.2
|
%
|
FDIC indemnification
asset
|
14,504
|
|
|
16,256
|
|
|
17,630
|
|
|
18,931
|
|
|
20,338
|
|
|
(10.8)
|
%
|
|
(28.7)
|
%
|
Accrued interest and other
assets
|
334,625
|
|
|
323,337
|
|
|
305,793
|
|
|
306,210
|
|
|
298,817
|
|
|
3.5
|
%
|
|
12.0
|
%
|
Total
Assets
|
$
|
8,310,102
|
|
|
$
|
8,193,554
|
|
|
$
|
8,147,411
|
|
|
$
|
7,880,533
|
|
|
$
|
7,383,372
|
|
|
1.4
|
%
|
|
12.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
demand
|
$
|
1,436,078
|
|
|
$
|
1,430,963
|
|
|
$
|
1,414,291
|
|
|
$
|
1,330,673
|
|
|
$
|
1,175,219
|
|
|
0.4
|
%
|
|
22.2
|
%
|
Savings
|
1,974,449
|
|
|
1,922,892
|
|
|
1,945,805
|
|
|
1,979,627
|
|
|
1,947,566
|
|
|
2.7
|
%
|
|
1.4
|
%
|
Time
|
1,279,934
|
|
|
1,414,313
|
|
|
1,406,124
|
|
|
1,440,223
|
|
|
1,262,881
|
|
|
(9.5)
|
%
|
|
1.4
|
%
|
Total interest-bearing deposits
|
4,690,461
|
|
|
4,768,168
|
|
|
4,766,220
|
|
|
4,750,523
|
|
|
4,385,666
|
|
|
(1.6)
|
%
|
|
6.9
|
%
|
Noninterest-bearing
|
1,429,163
|
|
|
1,408,609
|
|
|
1,413,404
|
|
|
1,330,905
|
|
|
1,330,149
|
|
|
1.5
|
%
|
|
7.4
|
%
|
Total deposits
|
6,119,624
|
|
|
6,176,777
|
|
|
6,179,624
|
|
|
6,081,428
|
|
|
5,715,815
|
|
|
(0.9)
|
%
|
|
7.1
|
%
|
Federal funds purchased and
securities sold
|
|
|
|
|
|
|
|
|
|
|
|
|
|
under agreements to repurchase
|
80,084
|
|
|
75,499
|
|
|
89,325
|
|
|
62,317
|
|
|
68,349
|
|
|
6.1
|
%
|
|
17.2
|
%
|
FHLB short-term
borrowings
|
1,035,000
|
|
|
894,400
|
|
|
849,100
|
|
|
701,200
|
|
|
641,700
|
|
|
15.7
|
%
|
|
61.3
|
%
|
Total short-term borrowings
|
1,115,084
|
|
|
969,899
|
|
|
938,425
|
|
|
763,517
|
|
|
710,049
|
|
|
15.0
|
%
|
|
57.0
|
%
|
Long-term debt
|
119,596
|
|
|
119,556
|
|
|
119,540
|
|
|
119,515
|
|
|
47,084
|
|
|
0.0
|
%
|
|
154.0
|
%
|
Total borrowed funds
|
1,234,680
|
|
|
1,089,455
|
|
|
1,057,965
|
|
|
883,032
|
|
|
757,133
|
|
|
13.3
|
%
|
|
63.1
|
%
|
Accrued interest and other
liabilities
|
109,075
|
|
|
100,735
|
|
|
100,446
|
|
|
103,061
|
|
|
108,041
|
|
|
8.3
|
%
|
|
1.0
|
%
|
Total
Liabilities
|
7,463,379
|
|
|
7,366,967
|
|
|
7,338,035
|
|
|
7,067,521
|
|
|
6,580,989
|
|
|
1.3
|
%
|
|
13.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock
|
567,687
|
|
|
567,497
|
|
|
571,155
|
|
|
570,025
|
|
|
571,501
|
|
|
0.0
|
%
|
|
(0.7)
|
%
|
Retained earnings
|
410,893
|
|
|
398,224
|
|
|
388,240
|
|
|
378,258
|
|
|
369,462
|
|
|
3.2
|
%
|
|
11.2
|
%
|
Accumulated other
comprehensive loss
|
(17,688)
|
|
|
(23,209)
|
|
|
(30,580)
|
|
|
(17,219)
|
|
|
(20,715)
|
|
|
(23.8)
|
%
|
|
(14.6)
|
%
|
Treasury stock, at
cost
|
(114,169)
|
|
|
(115,925)
|
|
|
(119,439)
|
|
|
(118,052)
|
|
|
(117,865)
|
|
|
(1.5)
|
%
|
|
(3.1)
|
%
|
Total
Shareholders' Equity
|
846,723
|
|
|
826,587
|
|
|
809,376
|
|
|
813,012
|
|
|
802,383
|
|
|
2.4
|
%
|
|
5.5
|
%
|
Total
Liabilities and Shareholders' Equity
|
$
|
8,310,102
|
|
|
$
|
8,193,554
|
|
|
$
|
8,147,411
|
|
|
$
|
7,880,533
|
|
|
$
|
7,383,372
|
|
|
1.4
|
%
|
|
12.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIRST FINANCIAL
BANCORP.
|
AVERAGE
CONSOLIDATED STATEMENTS OF CONDITION
|
(Dollars in
thousands)
|
(Unaudited)
|
|
|
|
|
|
|
|
Quarterly
Averages
|
|
Year-to-Date
Averages
|
|
Jun. 30,
|
|
Mar. 31,
|
|
Dec. 31,
|
|
Sep. 30,
|
|
Jun. 30,
|
|
June 30,
|
|
2016
|
|
2016
|
|
2015
|
|
2015
|
|
2015
|
|
2016
|
|
2015
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due from
banks
|
$
|
121,426
|
|
|
$
|
117,782
|
|
|
$
|
119,881
|
|
|
$
|
114,279
|
|
|
$
|
114,024
|
|
|
$
|
119,604
|
|
|
$
|
113,436
|
|
Federal funds
sold
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
Interest-bearing deposits
with other banks
|
21,687
|
|
|
24,291
|
|
|
18,920
|
|
|
37,468
|
|
|
19,960
|
|
|
22,989
|
|
|
20,604
|
|
Investment
securities
|
1,869,540
|
|
|
1,938,772
|
|
|
1,934,173
|
|
|
1,848,083
|
|
|
1,782,785
|
|
|
1,904,156
|
|
|
1,772,759
|
|
Loans held for
sale
|
11,752
|
|
|
13,216
|
|
|
18,677
|
|
|
15,185
|
|
|
9,292
|
|
|
12,484
|
|
|
8,951
|
|
Loans and leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
1,752,237
|
|
|
1,657,279
|
|
|
1,612,485
|
|
|
1,464,508
|
|
|
1,318,408
|
|
|
1,704,758
|
|
|
1,309,687
|
|
Lease
financing
|
100,103
|
|
|
94,935
|
|
|
89,200
|
|
|
83,300
|
|
|
82,578
|
|
|
97,519
|
|
|
220,877
|
|
Construction -
real estate
|
348,100
|
|
|
322,600
|
|
|
295,574
|
|
|
259,972
|
|
|
226,314
|
|
|
335,350
|
|
|
2,123,409
|
|
Commercial -
real estate
|
2,294,980
|
|
|
2,270,686
|
|
|
2,180,015
|
|
|
2,164,917
|
|
|
2,117,450
|
|
|
2,282,833
|
|
|
496,903
|
|
Residential -
real estate
|
510,262
|
|
|
509,422
|
|
|
505,208
|
|
|
500,544
|
|
|
497,350
|
|
|
509,842
|
|
|
44,379
|
|
Home
equity
|
466,170
|
|
|
466,722
|
|
|
465,131
|
|
|
462,283
|
|
|
459,414
|
|
|
466,446
|
|
|
458,752
|
|
Installment
|
44,438
|
|
|
41,698
|
|
|
41,148
|
|
|
42,008
|
|
|
43,393
|
|
|
43,068
|
|
|
38,843
|
|
Credit
card
|
41,038
|
|
|
41,254
|
|
|
41,027
|
|
|
39,991
|
|
|
39,272
|
|
|
41,146
|
|
|
80,333
|
|
Total loans
|
5,557,328
|
|
|
5,404,596
|
|
|
5,229,788
|
|
|
5,017,523
|
|
|
4,784,179
|
|
|
5,480,962
|
|
|
4,773,183
|
|
Less
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses
|
55,504
|
|
|
54,882
|
|
|
53,731
|
|
|
54,398
|
|
|
54,662
|
|
|
55,193
|
|
|
54,158
|
|
Net loans
|
5,501,824
|
|
|
5,349,714
|
|
|
5,176,057
|
|
|
4,963,125
|
|
|
4,729,517
|
|
|
5,425,769
|
|
|
4,719,025
|
|
Premises and
equipment
|
137,927
|
|
|
138,377
|
|
|
138,689
|
|
|
139,457
|
|
|
140,117
|
|
|
138,152
|
|
|
140,632
|
|
Goodwill and other
intangibles
|
211,363
|
|
|
211,707
|
|
|
211,722
|
|
|
179,333
|
|
|
145,500
|
|
|
211,535
|
|
|
145,594
|
|
FDIC indemnification
asset
|
15,404
|
|
|
17,138
|
|
|
18,437
|
|
|
19,848
|
|
|
20,744
|
|
|
16,271
|
|
|
21,424
|
|
Accrued interest and other
assets
|
312,914
|
|
|
307,948
|
|
|
313,722
|
|
|
294,611
|
|
|
281,947
|
|
|
310,431
|
|
|
280,292
|
|
Total
Assets
|
$
|
8,203,837
|
|
|
$
|
8,118,945
|
|
|
$
|
7,950,278
|
|
|
$
|
7,611,389
|
|
|
$
|
7,243,886
|
|
|
$
|
8,161,391
|
|
|
$
|
7,222,717
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
demand
|
$
|
1,483,025
|
|
|
$
|
1,391,591
|
|
|
$
|
1,423,915
|
|
|
$
|
1,230,621
|
|
|
$
|
1,220,391
|
|
|
$
|
1,437,308
|
|
|
$
|
1,198,449
|
|
Savings
|
2,042,188
|
|
|
1,938,206
|
|
|
2,005,100
|
|
|
2,015,373
|
|
|
1,950,127
|
|
|
1,990,197
|
|
|
1,932,523
|
|
Time
|
1,342,226
|
|
|
1,419,456
|
|
|
1,416,041
|
|
|
1,369,892
|
|
|
1,275,730
|
|
|
1,380,841
|
|
|
1,273,149
|
|
Total interest-bearing deposits
|
4,867,439
|
|
|
4,749,253
|
|
|
4,845,056
|
|
|
4,615,886
|
|
|
4,446,248
|
|
|
4,808,346
|
|
|
4,404,121
|
|
Noninterest-bearing
|
1,441,068
|
|
|
1,386,768
|
|
|
1,402,283
|
|
|
1,344,049
|
|
|
1,325,485
|
|
|
1,413,918
|
|
|
1,305,885
|
|
Total deposits
|
6,308,507
|
|
|
6,136,021
|
|
|
6,247,339
|
|
|
5,959,935
|
|
|
5,771,733
|
|
|
6,222,264
|
|
|
5,710,006
|
|
Federal funds purchased and
securities sold
|
|
|
|
|
|
|
|
|
|
|
|
|
|
under agreements to repurchase
|
86,457
|
|
|
89,349
|
|
|
79,354
|
|
|
68,505
|
|
|
67,664
|
|
|
87,903
|
|
|
72,440
|
|
FHLB short-term
borrowings
|
759,919
|
|
|
856,837
|
|
|
564,522
|
|
|
606,618
|
|
|
472,295
|
|
|
808,378
|
|
|
518,848
|
|
Total short-term borrowings
|
846,376
|
|
|
946,186
|
|
|
643,876
|
|
|
675,123
|
|
|
539,959
|
|
|
896,281
|
|
|
591,288
|
|
Long-term debt
|
119,575
|
|
|
119,553
|
|
|
119,532
|
|
|
71,583
|
|
|
47,266
|
|
|
119,564
|
|
|
47,544
|
|
Total borrowed
funds
|
965,951
|
|
|
1,065,739
|
|
|
763,408
|
|
|
746,706
|
|
|
587,225
|
|
|
1,015,845
|
|
|
638,832
|
|
Accrued interest and other
liabilities
|
91,967
|
|
|
95,597
|
|
|
121,775
|
|
|
92,352
|
|
|
84,330
|
|
|
93,782
|
|
|
79,291
|
|
Total
Liabilities
|
7,366,425
|
|
|
7,297,357
|
|
|
7,132,522
|
|
|
6,798,993
|
|
|
6,443,288
|
|
|
7,331,891
|
|
|
6,428,129
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock
|
567,682
|
|
|
570,558
|
|
|
570,510
|
|
|
570,723
|
|
|
571,078
|
|
|
569,120
|
|
|
572,497
|
|
Retained earnings
|
406,788
|
|
|
395,756
|
|
|
385,295
|
|
|
378,160
|
|
|
365,847
|
|
|
401,272
|
|
|
360,875
|
|
Accumulated other
comprehensive loss
|
(21,901)
|
|
|
(26,165)
|
|
|
(18,962)
|
|
|
(19,725)
|
|
|
(18,242)
|
|
|
(24,033)
|
|
|
(19,197)
|
|
Treasury stock, at
cost
|
(115,157)
|
|
|
(118,561)
|
|
|
(119,087)
|
|
|
(116,762)
|
|
|
(118,085)
|
|
|
(116,859)
|
|
|
(119,587)
|
|
Total
Shareholders' Equity
|
837,412
|
|
|
821,588
|
|
|
817,756
|
|
|
812,396
|
|
|
800,598
|
|
|
829,500
|
|
|
794,588
|
|
Total
Liabilities and Shareholders' Equity
|
$
|
8,203,837
|
|
|
$
|
8,118,945
|
|
|
$
|
7,950,278
|
|
|
$
|
7,611,389
|
|
|
$
|
7,243,886
|
|
|
$
|
8,161,391
|
|
|
$
|
7,222,717
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIRST FINANCIAL
BANCORP.
|
NET INTEREST
MARGIN RATE/VOLUME ANALYSIS (1)
|
(Dollars in
thousands)
|
(Unaudited)
|
|
|
|
|
|
|
|
Quarterly
Averages
|
|
Year-to-Date
Averages
|
|
|
June 30,
2016
|
|
March 31,
2016
|
|
June 30,
2015
|
|
June 30,
2016
|
|
June 30,
2015
|
|
|
Balance
|
|
Yield
|
|
Balance
|
|
Yield
|
|
Balance
|
|
Yield
|
|
Balance
|
|
Yield
|
|
Balance
|
|
Yield
|
Earning
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment
securities
|
|
$
|
1,869,540
|
|
|
2.54
|
%
|
|
$
|
1,938,772
|
|
|
2.59
|
%
|
|
$
|
1,782,785
|
|
|
2.34
|
%
|
|
$
|
1,904,156
|
|
|
2.58
|
%
|
|
$
|
1,772,759
|
|
|
2.41
|
%
|
Interest-bearing
deposits with other banks
|
|
21,687
|
|
|
0.50
|
%
|
|
24,291
|
|
|
0.53
|
%
|
|
19,960
|
|
|
0.26
|
%
|
|
22,989
|
|
|
0.52
|
%
|
|
20,604
|
|
|
0.26
|
%
|
Gross loans (2)
|
|
5,584,484
|
|
|
4.55
|
%
|
|
5,434,950
|
|
|
4.59
|
%
|
|
4,814,215
|
|
|
4.45
|
%
|
|
5,509,717
|
|
|
4.59
|
%
|
|
4,803,558
|
|
|
4.48
|
%
|
Total earning
assets
|
|
7,475,711
|
|
|
4.03
|
%
|
|
7,398,013
|
|
|
4.06
|
%
|
|
6,616,960
|
|
|
3.87
|
%
|
|
7,436,862
|
|
|
4.07
|
%
|
|
6,596,921
|
|
|
3.91
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonearning
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses
|
|
(55,504)
|
|
|
|
|
(54,882)
|
|
|
|
|
(54,662)
|
|
|
|
|
(55,193)
|
|
|
|
|
(54,158)
|
|
|
|
Cash and due from banks
|
|
121,426
|
|
|
|
|
117,782
|
|
|
|
|
114,024
|
|
|
|
|
119,604
|
|
|
|
|
113,436
|
|
|
|
Accrued interest and other assets
|
|
662,204
|
|
|
|
|
658,032
|
|
|
|
|
567,564
|
|
|
|
|
660,118
|
|
|
|
|
566,518
|
|
|
|
Total assets
|
|
$
|
8,203,837
|
|
|
|
|
$
|
8,118,945
|
|
|
|
|
$
|
7,243,886
|
|
|
|
|
$
|
8,161,391
|
|
|
|
|
$
|
7,222,717
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
demand
|
|
$
|
1,483,025
|
|
|
0.13
|
%
|
|
$
|
1,391,591
|
|
|
0.16
|
%
|
|
$
|
1,220,391
|
|
|
0.08
|
%
|
|
$
|
1,437,308
|
|
|
0.14
|
%
|
|
$
|
1,198,449
|
|
|
0.08
|
%
|
Savings
|
|
2,042,188
|
|
|
0.25
|
%
|
|
1,938,206
|
|
|
0.26
|
%
|
|
1,950,127
|
|
|
0.19
|
%
|
|
1,990,197
|
|
|
0.26
|
%
|
|
1,932,523
|
|
|
0.23
|
%
|
Time
|
|
1,342,226
|
|
|
1.10
|
%
|
|
1,419,456
|
|
|
1.05
|
%
|
|
1,275,730
|
|
|
1.08
|
%
|
|
1,380,841
|
|
|
1.08
|
%
|
|
1,273,149
|
|
|
1.08
|
%
|
Total interest-bearing deposits
|
|
4,867,439
|
|
|
0.45
|
%
|
|
4,749,253
|
|
|
0.47
|
%
|
|
4,446,248
|
|
|
0.42
|
%
|
|
4,808,346
|
|
|
0.46
|
%
|
|
4,404,121
|
|
|
0.43
|
%
|
Borrowed funds
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term
borrowings
|
|
846,376
|
|
|
0.50
|
%
|
|
946,186
|
|
|
0.50
|
%
|
|
539,959
|
|
|
0.19
|
%
|
|
896,281
|
|
|
0.50
|
%
|
|
591,288
|
|
|
0.19
|
%
|
Long-term
debt
|
|
119,575
|
|
|
5.17
|
%
|
|
119,553
|
|
|
5.17
|
%
|
|
47,266
|
|
|
2.51
|
%
|
|
119,564
|
|
|
5.20
|
%
|
|
47,544
|
|
|
2.52
|
%
|
Total
borrowed funds
|
|
965,951
|
|
|
1.08
|
%
|
|
1,065,739
|
|
|
1.02
|
%
|
|
587,225
|
|
|
0.37
|
%
|
|
1,015,845
|
|
|
1.05
|
%
|
|
638,832
|
|
|
0.36
|
%
|
Total
interest-bearing liabilities
|
|
5,833,390
|
|
|
0.55
|
%
|
|
5,814,992
|
|
|
0.57
|
%
|
|
5,033,473
|
|
|
0.41
|
%
|
|
5,824,191
|
|
|
0.56
|
%
|
|
5,042,953
|
|
|
0.42
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing demand deposits
|
|
1,441,068
|
|
|
|
|
1,386,768
|
|
|
|
|
1,325,485
|
|
|
|
|
1,413,918
|
|
|
|
|
1,305,885
|
|
|
|
Other liabilities
|
|
91,967
|
|
|
|
|
95,597
|
|
|
|
|
84,330
|
|
|
|
|
93,782
|
|
|
|
|
79,291
|
|
|
|
Shareholders' equity
|
|
837,412
|
|
|
|
|
821,588
|
|
|
|
|
800,598
|
|
|
|
|
829,500
|
|
|
|
|
794,588
|
|
|
|
Total
liabilities & shareholders' equity
|
|
$
|
8,203,837
|
|
|
|
|
$
|
8,118,945
|
|
|
|
|
$
|
7,243,886
|
|
|
|
|
$
|
8,161,391
|
|
|
|
|
$
|
7,222,717
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
(1)
|
|
$
|
67,132
|
|
|
|
|
$
|
66,555
|
|
|
|
|
$
|
58,674
|
|
|
|
|
$
|
133,687
|
|
|
|
|
$
|
117,260
|
|
|
|
Net interest spread
(1)
|
|
|
|
3.48
|
%
|
|
|
|
3.49
|
%
|
|
|
|
3.46
|
%
|
|
|
|
3.51
|
%
|
|
|
|
3.49
|
%
|
Net interest margin
(1)
|
|
|
|
3.61
|
%
|
|
|
|
3.62
|
%
|
|
|
|
3.56
|
%
|
|
|
|
3.62
|
%
|
|
|
|
3.58
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Not
tax equivalent.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) 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
|
|
$
|
(234)
|
|
|
$
|
(439)
|
|
|
$
|
(673)
|
|
|
$
|
892
|
|
|
$
|
550
|
|
|
$
|
1,442
|
|
|
$
|
1,568
|
|
|
$
|
1,684
|
|
|
$
|
3,252
|
|
Interest-bearing deposits with other banks
|
|
(2)
|
|
|
(3)
|
|
|
(5)
|
|
|
12
|
|
|
2
|
|
|
14
|
|
|
26
|
|
|
6
|
|
|
32
|
|
Gross loans (2)
|
|
(629)
|
|
|
1,695
|
|
|
1,066
|
|
|
1,153
|
|
|
8,730
|
|
|
9,883
|
|
|
2,754
|
|
|
16,088
|
|
|
18,842
|
|
Total earning
assets
|
|
(865)
|
|
|
1,253
|
|
|
388
|
|
|
2,057
|
|
|
9,282
|
|
|
11,339
|
|
|
4,348
|
|
|
17,778
|
|
|
22,126
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing
liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total interest-bearing deposits
|
|
$
|
(206)
|
|
|
$
|
133
|
|
|
$
|
(73)
|
|
|
$
|
364
|
|
|
$
|
472
|
|
|
$
|
836
|
|
|
$
|
622
|
|
|
$
|
924
|
|
|
$
|
1,546
|
|
Borrowed funds
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term borrowings
|
|
7
|
|
|
(124)
|
|
|
(117)
|
|
|
419
|
|
|
381
|
|
|
800
|
|
|
911
|
|
|
756
|
|
|
1,667
|
|
Long-term debt
|
|
1
|
|
|
0
|
|
|
1
|
|
|
313
|
|
|
932
|
|
|
1,245
|
|
|
630
|
|
|
1,856
|
|
|
2,486
|
|
Total borrowed funds
|
|
8
|
|
|
(124)
|
|
|
(116)
|
|
|
732
|
|
|
1,313
|
|
|
2,045
|
|
|
1,541
|
|
|
2,612
|
|
|
4,153
|
|
Total
interest-bearing liabilities
|
|
(198)
|
|
|
9
|
|
|
(189)
|
|
|
1,096
|
|
|
1,785
|
|
|
2,881
|
|
|
2,163
|
|
|
3,536
|
|
|
5,699
|
|
Net interest income (1)
|
|
$
|
(667)
|
|
|
$
|
1,244
|
|
|
$
|
577
|
|
|
$
|
961
|
|
|
$
|
7,497
|
|
|
$
|
8,458
|
|
|
$
|
2,185
|
|
|
$
|
14,242
|
|
|
$
|
16,427
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months
ended
|
|
Jun. 30,
|
|
Mar. 31,
|
|
Dec. 31,
|
|
Sep. 30,
|
|
Jun. 30,
|
|
Jun. 30,
|
|
Jun. 30,
|
|
2016
|
|
2016
|
|
2015
|
|
2015
|
|
2015
|
|
2016
|
|
2015
|
ALLOWANCE FOR LOAN
AND LEASE LOSS ACTIVITY
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning
of period
|
$
|
53,732
|
|
|
$
|
53,398
|
|
|
$
|
53,332
|
|
|
$
|
52,876
|
|
|
$
|
53,076
|
|
|
$
|
53,398
|
|
|
$
|
52,858
|
|
Provision for
loan and lease losses
|
4,037
|
|
|
1,655
|
|
|
1,864
|
|
|
2,647
|
|
|
3,070
|
|
|
5,692
|
|
|
5,130
|
|
Gross
charge-offs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial
|
189
|
|
|
329
|
|
|
622
|
|
|
536
|
|
|
510
|
|
|
518
|
|
|
1,991
|
|
Construction - real estate
|
0
|
|
|
0
|
|
|
0
|
|
|
85
|
|
|
0
|
|
|
0
|
|
|
0
|
|
Commercial - real estate
|
1,224
|
|
|
432
|
|
|
1,137
|
|
|
941
|
|
|
2,515
|
|
|
1,656
|
|
|
2,723
|
|
Residential - real estate
|
20
|
|
|
39
|
|
|
31
|
|
|
101
|
|
|
250
|
|
|
59
|
|
|
564
|
|
Home equity
|
230
|
|
|
273
|
|
|
300
|
|
|
322
|
|
|
163
|
|
|
503
|
|
|
863
|
|
Installment
|
29
|
|
|
54
|
|
|
128
|
|
|
124
|
|
|
12
|
|
|
83
|
|
|
143
|
|
Other
|
357
|
|
|
240
|
|
|
242
|
|
|
276
|
|
|
237
|
|
|
597
|
|
|
531
|
|
Covered / formerly covered loans
|
653
|
|
|
1,075
|
|
|
3,818
|
|
|
1,577
|
|
|
1,585
|
|
|
1,728
|
|
|
3,501
|
|
Total gross
charge-offs
|
2,702
|
|
|
2,442
|
|
|
6,278
|
|
|
3,962
|
|
|
5,272
|
|
|
5,144
|
|
|
10,316
|
|
Recoveries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial
|
387
|
|
|
163
|
|
|
386
|
|
|
357
|
|
|
185
|
|
|
550
|
|
|
229
|
|
Construction - real estate
|
0
|
|
|
7
|
|
|
91
|
|
|
0
|
|
|
10
|
|
|
7
|
|
|
39
|
|
Commercial - real estate
|
158
|
|
|
346
|
|
|
597
|
|
|
444
|
|
|
179
|
|
|
504
|
|
|
533
|
|
Residential - real estate
|
78
|
|
|
62
|
|
|
192
|
|
|
87
|
|
|
23
|
|
|
140
|
|
|
87
|
|
Home equity
|
121
|
|
|
164
|
|
|
102
|
|
|
195
|
|
|
129
|
|
|
285
|
|
|
283
|
|
Installment
|
37
|
|
|
35
|
|
|
36
|
|
|
59
|
|
|
44
|
|
|
72
|
|
|
104
|
|
Other
|
64
|
|
|
81
|
|
|
74
|
|
|
52
|
|
|
71
|
|
|
145
|
|
|
116
|
|
Covered / formerly covered loans
|
796
|
|
|
263
|
|
|
3,002
|
|
|
577
|
|
|
1,361
|
|
|
1,059
|
|
|
3,813
|
|
Total
recoveries
|
1,641
|
|
|
1,121
|
|
|
4,480
|
|
|
1,771
|
|
|
2,002
|
|
|
2,762
|
|
|
5,204
|
|
Total net
charge-offs
|
1,061
|
|
|
1,321
|
|
|
1,798
|
|
|
2,191
|
|
|
3,270
|
|
|
2,382
|
|
|
5,112
|
|
Ending allowance for
loan and lease losses
|
$
|
56,708
|
|
|
$
|
53,732
|
|
|
$
|
53,398
|
|
|
$
|
53,332
|
|
|
$
|
52,876
|
|
|
$
|
56,708
|
|
|
$
|
52,876
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET CHARGE-OFFS TO
AVERAGE LOANS AND LEASES (ANNUALIZED)
|
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
(0.05)
|
%
|
|
0.04
|
%
|
|
0.06
|
%
|
|
0.05
|
%
|
|
0.10
|
%
|
|
0.00
|
%
|
|
0.27
|
%
|
Construction -
real estate
|
0.00
|
%
|
|
(0.01)
|
%
|
|
(0.12)
|
%
|
|
0.13
|
%
|
|
(0.02)
|
%
|
|
0.00
|
%
|
|
(0.04)
|
%
|
Commercial -
real estate
|
0.20
|
%
|
|
0.02
|
%
|
|
0.10
|
%
|
|
0.10
|
%
|
|
0.48
|
%
|
|
0.11
|
%
|
|
0.22
|
%
|
Residential -
real estate
|
(0.05)
|
%
|
|
(0.02)
|
%
|
|
(0.14)
|
%
|
|
0.01
|
%
|
|
0.21
|
%
|
|
(0.04)
|
%
|
|
0.22
|
%
|
Home
equity
|
0.10
|
%
|
|
0.10
|
%
|
|
0.18
|
%
|
|
0.12
|
%
|
|
0.03
|
%
|
|
0.10
|
%
|
|
0.28
|
%
|
Installment
|
(0.08)
|
%
|
|
0.19
|
%
|
|
0.94
|
%
|
|
0.65
|
%
|
|
(0.32)
|
%
|
|
0.05
|
%
|
|
0.19
|
%
|
Other
|
0.85
|
%
|
|
0.48
|
%
|
|
0.52
|
%
|
|
0.74
|
%
|
|
0.55
|
%
|
|
0.66
|
%
|
|
0.71
|
%
|
Covered /
formerly covered loans
|
(0.29)
|
%
|
|
1.51
|
%
|
|
1.40
|
%
|
|
1.60
|
%
|
|
0.33
|
%
|
|
0.64
|
%
|
|
(0.22)
|
%
|
Total net
charge-offs
|
0.08
|
%
|
|
0.10
|
%
|
|
0.14
|
%
|
|
0.17
|
%
|
|
0.27
|
%
|
|
0.09
|
%
|
|
0.23
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPONENTS OF
NONPERFORMING LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING
ASSETS
|
|
|
Nonaccrual
loans (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial
|
$
|
2,870
|
|
|
$
|
3,757
|
|
|
$
|
8,231
|
|
|
$
|
7,191
|
|
|
$
|
6,683
|
|
|
$
|
2,870
|
|
|
$
|
6,683
|
|
Construction - real estate
|
0
|
|
|
0
|
|
|
0
|
|
|
79
|
|
|
223
|
|
|
0
|
|
|
223
|
|
Commercial - real estate
|
8,397
|
|
|
8,178
|
|
|
9,059
|
|
|
17,228
|
|
|
21,186
|
|
|
8,397
|
|
|
21,186
|
|
Residential - real estate
|
4,824
|
|
|
4,243
|
|
|
5,027
|
|
|
4,940
|
|
|
5,257
|
|
|
4,824
|
|
|
5,257
|
|
Home equity
|
2,250
|
|
|
3,018
|
|
|
2,787
|
|
|
2,702
|
|
|
2,735
|
|
|
2,250
|
|
|
2,735
|
|
Installment
|
433
|
|
|
113
|
|
|
127
|
|
|
321
|
|
|
305
|
|
|
433
|
|
|
305
|
|
Lease financing
|
1,167
|
|
|
121
|
|
|
122
|
|
|
0
|
|
|
0
|
|
|
1,167
|
|
|
0
|
|
Covered / formerly covered loans
|
2,336
|
|
|
2,577
|
|
|
2,644
|
|
|
3,252
|
|
|
3,284
|
|
|
2,336
|
|
|
3,284
|
|
Nonaccrual
loans
|
22,277
|
|
|
22,007
|
|
|
27,997
|
|
|
35,713
|
|
|
39,673
|
|
|
22,277
|
|
|
39,673
|
|
Accruing
troubled debt restructurings (TDRs)
|
28,022
|
|
|
30,127
|
|
|
28,876
|
|
|
20,226
|
|
|
20,084
|
|
|
28,022
|
|
|
20,084
|
|
Total nonperforming
loans
|
50,299
|
|
|
52,134
|
|
|
56,873
|
|
|
55,939
|
|
|
59,757
|
|
|
50,299
|
|
|
59,757
|
|
Other real
estate owned (OREO)
|
9,302
|
|
|
11,939
|
|
|
13,254
|
|
|
15,187
|
|
|
16,401
|
|
|
9,302
|
|
|
16,401
|
|
Total nonperforming
assets
|
59,601
|
|
|
64,073
|
|
|
70,127
|
|
|
71,126
|
|
|
76,158
|
|
|
59,601
|
|
|
76,158
|
|
Accruing loans
past due 90 days or more
|
981
|
|
|
59
|
|
|
108
|
|
|
58
|
|
|
70
|
|
|
981
|
|
|
70
|
|
Total underperforming
assets
|
$
|
60,582
|
|
|
$
|
64,132
|
|
|
$
|
70,235
|
|
|
$
|
71,184
|
|
|
$
|
76,228
|
|
|
$
|
60,582
|
|
|
$
|
76,228
|
|
Total classified
assets
|
$
|
143,331
|
|
|
$
|
133,940
|
|
|
$
|
132,431
|
|
|
$
|
130,132
|
|
|
$
|
139,931
|
|
|
$
|
143,331
|
|
|
$
|
151,962
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDIT QUALITY
RATIOS
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan
and lease losses to
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual loans
|
254.56
|
%
|
|
244.16
|
%
|
|
190.73
|
%
|
|
149.33
|
%
|
|
133.28
|
%
|
|
254.56
|
%
|
|
133.28
|
%
|
Nonperforming
loans
|
112.74
|
%
|
|
103.07
|
%
|
|
93.89
|
%
|
|
95.34
|
%
|
|
88.49
|
%
|
|
112.74
|
%
|
|
88.49
|
%
|
Total ending
loans
|
0.99
|
%
|
|
0.98
|
%
|
|
0.99
|
%
|
|
1.02
|
%
|
|
1.09
|
%
|
|
0.99
|
%
|
|
1.09
|
%
|
Allowance and loan
marks, net of indemnification asset, to total loans
|
1.06
|
%
|
|
1.08
|
%
|
|
1.11
|
%
|
|
1.17
|
%
|
|
1.27
|
%
|
|
1.06
|
%
|
|
1.27
|
%
|
Nonperforming loans
to total loans
|
0.88
|
%
|
|
0.95
|
%
|
|
1.06
|
%
|
|
1.07
|
%
|
|
1.23
|
%
|
|
0.88
|
%
|
|
1.23
|
%
|
Nonperforming assets
to
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending loans, plus
OREO
|
1.04
|
%
|
|
1.16
|
%
|
|
1.30
|
%
|
|
1.36
|
%
|
|
1.56
|
%
|
|
1.04
|
%
|
|
1.56
|
%
|
Total assets
|
0.72
|
%
|
|
0.78
|
%
|
|
0.86
|
%
|
|
0.90
|
%
|
|
1.03
|
%
|
|
0.72
|
%
|
|
1.03
|
%
|
Nonperforming assets,
excluding accruing TDRs to
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending loans, plus
OREO
|
0.55
|
%
|
|
0.62
|
%
|
|
0.76
|
%
|
|
0.97
|
%
|
|
1.15
|
%
|
|
0.55
|
%
|
|
1.15
|
%
|
Total assets
|
0.38
|
%
|
|
0.41
|
%
|
|
0.51
|
%
|
|
0.65
|
%
|
|
0.76
|
%
|
|
0.38
|
%
|
|
0.76
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Nonaccrual
loans include nonaccrual TDRs of $8.0 million, $7.5 million, $9.3
million, $13.6 million, and $14.1 million, as of June 30, 2016,
March 31, 2016, December 31, 2015, September 30, 2015, and June 30
2015, respectively.
|
|
|
|
|
|
FIRST FINANCIAL
BANCORP.
|
CAPITAL
ADEQUACY
|
(Dollars in
thousands, except per share data)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
Six months
ended,
|
|
Jun. 30,
|
|
Mar. 31,
|
|
Dec. 31,
|
|
Sep. 30,
|
|
Jun. 30,
|
|
Jun. 30,
|
|
Jun. 30,
|
|
2016
|
|
2016
|
|
2015
|
|
2015
|
|
2015
|
|
2016
|
|
2015
|
PER COMMON
SHARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market
Price
|
|
|
|
|
|
|
|
|
|
|
|
|
|
High
|
$
|
20.16
|
|
|
$
|
18.36
|
|
|
$
|
20.72
|
|
|
$
|
19.69
|
|
|
$
|
18.55
|
|
|
$
|
20.16
|
|
|
$
|
18.55
|
|
Low
|
$
|
17.49
|
|
|
$
|
14.91
|
|
|
$
|
17.83
|
|
|
$
|
17.55
|
|
|
$
|
16.68
|
|
|
$
|
14.91
|
|
|
$
|
16.52
|
|
Close
|
$
|
19.45
|
|
|
$
|
18.18
|
|
|
$
|
18.07
|
|
|
$
|
19.08
|
|
|
$
|
17.94
|
|
|
$
|
19.45
|
|
|
$
|
17.94
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding - basic
|
61,194,254
|
|
|
61,036,797
|
|
|
60,985,096
|
|
|
61,135,749
|
|
|
61,115,802
|
|
|
61,115,525
|
|
|
61,064,928
|
|
Average shares
outstanding - diluted
|
62,027,008
|
|
|
61,840,247
|
|
|
61,861,182
|
|
|
61,987,795
|
|
|
61,915,294
|
|
|
61,912,366
|
|
|
61,824,106
|
|
Ending shares
outstanding
|
61,959,529
|
|
|
61,855,027
|
|
|
61,641,680
|
|
|
61,713,633
|
|
|
61,707,847
|
|
|
61,959,529
|
|
|
61,707,847
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
$
|
846,723
|
|
|
$
|
826,587
|
|
|
$
|
809,376
|
|
|
$
|
813,012
|
|
|
$
|
802,383
|
|
|
$
|
846,723
|
|
|
$
|
802,383
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REGULATORY CAPITAL
(1)
|
Preliminary
|
|
|
|
|
|
|
|
|
|
Preliminary
|
|
|
Common equity tier 1
capital
|
$
|
673,313
|
|
|
$
|
658,001
|
|
|
$
|
648,748
|
|
|
$
|
638,574
|
|
|
$
|
697,139
|
|
|
$
|
673,313
|
|
|
$
|
697,139
|
|
Common equity tier 1
capital ratio
|
10.07
|
%
|
|
10.16
|
%
|
|
10.28
|
%
|
|
10.51
|
%
|
|
12.34
|
%
|
|
10.07
|
%
|
|
12.34
|
%
|
Tier 1
capital
|
$
|
673,417
|
|
|
$
|
658,105
|
|
|
$
|
648,852
|
|
|
$
|
638,678
|
|
|
$
|
697,243
|
|
|
$
|
673,417
|
|
|
$
|
697,243
|
|
Tier 1
ratio
|
10.07
|
%
|
|
10.16
|
%
|
|
10.29
|
%
|
|
10.52
|
%
|
|
12.35
|
%
|
|
10.07
|
%
|
|
12.35
|
%
|
Total
capital
|
$
|
849,303
|
|
|
$
|
831,924
|
|
|
$
|
822,431
|
|
|
$
|
812,029
|
|
|
$
|
751,818
|
|
|
$
|
849,303
|
|
|
$
|
751,818
|
|
Total capital
ratio
|
12.70
|
%
|
|
12.84
|
%
|
|
13.04
|
%
|
|
13.37
|
%
|
|
13.31
|
%
|
|
12.70
|
%
|
|
13.31
|
%
|
Total capital in
excess of minimum
|
|
|
|
|
|
|
|
|
|
|
|
|
|
requirement
|
$
|
272,708
|
|
|
$
|
273,135
|
|
|
$
|
317,780
|
|
|
$
|
326,117
|
|
|
$
|
300,006
|
|
|
$
|
272,708
|
|
|
$
|
300,006
|
|
Total risk-weighted
assets
|
$
|
6,685,158
|
|
|
$
|
6,478,716
|
|
|
$
|
6,308,139
|
|
|
$
|
6,073,899
|
|
|
$
|
5,647,658
|
|
|
$
|
6,685,158
|
|
|
$
|
5,647,658
|
|
Leverage
ratio
|
8.38
|
%
|
|
8.27
|
%
|
|
8.33
|
%
|
|
8.58
|
%
|
|
9.77
|
%
|
|
8.38
|
%
|
|
9.77
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER CAPITAL
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending shareholders'
equity to ending assets
|
10.19
|
%
|
|
10.09
|
%
|
|
9.93
|
%
|
|
10.32
|
%
|
|
10.87
|
%
|
|
10.19
|
%
|
|
10.87
|
%
|
Ending tangible
shareholders' equity to ending tangible assets
|
7.85
|
%
|
|
7.71
|
%
|
|
7.53
|
%
|
|
7.84
|
%
|
|
9.08
|
%
|
|
7.85
|
%
|
|
9.08
|
%
|
Average shareholders'
equity to average assets
|
10.21
|
%
|
|
10.12
|
%
|
|
10.29
|
%
|
|
10.67
|
%
|
|
11.05
|
%
|
|
10.16
|
%
|
|
11.00
|
%
|
Average tangible
shareholders' equity to average tangible assets
|
7.83
|
%
|
|
7.71
|
%
|
|
7.83
|
%
|
|
8.12
|
%
|
|
9.23
|
%
|
|
7.78
|
%
|
|
9.17
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPURCHASE PROGRAM
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares
repurchased
|
0
|
|
|
0
|
|
|
91,032
|
|
|
148,935
|
|
|
0
|
|
|
0
|
|
|
0
|
|
Average share
repurchase price
|
N/A
|
|
N/A
|
|
$
|
18.85
|
|
|
$
|
18.68
|
|
|
N/A
|
|
N/A
|
|
N/A
|
Total cost of shares
repurchased
|
N/A
|
|
N/A
|
|
$
|
1,716
|
|
|
$
|
2,783
|
|
|
N/A
|
|
N/A
|
|
N/A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) 2015
amounts and ratios are calculated under the Basel III standardized
approach
|
|
|
|
|
|
|
|
|
(2)
Represents share repurchases as part of publicly announced
plans.
|
|
|
|
|
|
|
|
|
|
|
N/A = Not
applicable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/first-financial-bancorp-reports-second-quarter-2016-financial-results-300302383.html
SOURCE First Financial Bancorp