FIRST FINANCIAL BANCORP /OH/ SEC 10-Q Report

First Financial Bancorp, a prominent financial institution headquartered in Ohio, has released its Form 10-Q report for the third quarter. The report provides a comprehensive overview of the company's financial and operational performance, reflecting its strategic initiatives and market conditions. The following sections summarize the key financial and business highlights from the report.

Financial Highlights

• Total Interest Income: $245.9 million, reflecting a decrease from $252.7 million in the same period last year, primarily due to lower interest income from loans and leases.
• Net Interest Income: $158.3 million, an increase from $153.3 million in the prior year, driven by a reduction in interest expense.
• Provision for Credit Losses: $9.1 million, down from $16.2 million in the previous year, indicating improved credit quality.
• Total Noninterest Income: $68.1 million, up from $61.5 million, with significant contributions from leasing business income and net gains from sales of loans.
• Total Noninterest Expenses: $128.7 million, an increase from $123.6 million, largely due to higher leasing business expenses.
• Income Before Income Taxes: $87.9 million, compared to $74.8 million in the previous year, reflecting improved operational efficiency.
• Net Income: $70.0 million, up from $60.8 million, driven by higher noninterest income and lower provision for credit losses.
• Net Earnings Per Common Share - Basic: $0.74, an increase from $0.64, reflecting the overall improvement in net income.
• Net Earnings Per Common Share - Diluted: $0.73, compared to $0.64 in the prior year, indicating enhanced shareholder value.

Business Highlights

• Revenue Segments: The company reported revenue from various segments including commercial and industrial loans, lease financing, construction real estate, commercial real estate, residential real estate, home equity, installment, and credit card lending. Each segment showed varying levels of performance, with commercial and industrial loans being a significant contributor.
• Geographical Performance: The company's operations are primarily concentrated in Ohio, Indiana, Kentucky, and Illinois, with certain specialty lending platforms extending beyond these regions. The performance in these areas is crucial to the company's overall business operations.
• Sales Units: The company reported a total of 11,786,196 in loans and leases, indicating a stable lending activity across its various segments. This includes commercial and industrial loans, lease financing, and real estate loans.
• Future Outlook: The company anticipates continued monitoring of credit quality and economic conditions to manage its allowance for credit losses. The management remains focused on maintaining strong credit underwriting standards and monitoring economic forecasts to adjust its credit loss models accordingly.

SEC Filing: FIRST FINANCIAL BANCORP /OH/ [ FFBC ] - 10-Q - Aug. 07, 2025