$FFBC

FIRST FINANCIAL BANCORP /OH/

CIK:0000708955|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest income
Loans, including fees	$ 219,164	$ 201,460	$ 444,115	$ 398,623
Investment securities
Taxable	53,904	36,243	103,395	70,644
Tax-exempt	2,472	2,233	4,998	4,437
Total interest on investment securities	56,376	38,476	108,393	75,081
Other earning assets	5,381	5,964	10,831	12,615
Total interest income	280,921	245,900	563,339	486,319
Interest expense
Deposits	79,250	75,484	158,985	154,125
Short-term borrowings	4,997	6,393	10,165	13,938
Long-term borrowings	6,297	5,754	14,202	10,691
Total interest expense	90,544	87,631	183,352	178,754
Net interest income	190,377	158,269	379,987	307,565
Provision for Credit Losses-loans and leases	12,933	9,084	18,963	18,225
Provision for credit losses-unfunded commitments	(4,743)	718	(2,233)	277
Net interest income after provision for credit losses	182,187	148,467	363,257	289,063
Noninterest income
Service Charges on Deposit Accounts	8,896	7,766	17,909	15,229
Wealth management fees	8,252	7,787	18,734	15,924
Bankcard income	3,032	3,737	6,612	7,047
Client derivative fees	1,443	1,674	5,453	3,245
Foreign exchange income	13,101	13,760	29,414	26,304
Operating Lease, Lease Income	22,750	20,797	44,358	39,500
Net gains from sales of loans	6,658	6,687	12,705	11,009
Net gain (loss) on investment securities	(337)	243	(1,597)	(9,706)
Other	6,807	5,612	10,028	10,594
Total noninterest income	73,791	68,063	155,697	119,146
Noninterest expenses
Salaries and employee benefits	86,917	74,917	186,773	150,155
Net occupancy	7,535	5,845	15,088	11,864
Furniture and equipment	4,310	3,441	9,003	7,254
Data processing	13,554	9,020	26,208	17,779
Marketing	3,616	2,737	6,268	4,755
Professional services	7,387	3,549	11,373	6,288
FDIC assessments	2,878	2,611	6,523	5,670
Intangible amortization	6,229	2,358	12,490	4,717
Amortization of operating leases	14,633	13,155	28,762	25,957
Other	13,814	10,927	27,124	22,085
Total noninterest expenses	161,542	128,671	330,950	256,747
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	94,436	87,859	188,004	151,462
Income tax expense	17,980	17,863	37,103	30,173
Net income	$ 76,456	$ 69,996	$ 150,901	$ 121,289
Earnings per common share
Basic	$ 0.74	$ 0.74	$ 1.45	$ 1.28
Diluted	$ 0.73	$ 0.73	$ 1.44	$ 1.27
Average common shares outstanding - basic	103,938,322	94,860,428	103,822,439	94,753,700
Average common shares outstanding - diluted	104,936,741	95,741,696	104,776,961	95,633,579
Investment Program, Proportional Amortization Method, Elected, Equity Method Investment, Income (Loss) from Tax Credit Investment	$ 669	$ 111	$ 1,338	$ 223
Gain on bargain purchase	$ 3,189	$ 0	$ 12,081	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	3 Months Ended	6 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	Jun. 30, 2026 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)
Operating activities
Net income	$ 76,456	$ 150,901	$ 121,289
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for (recapture of) credit losses		16,730	18,502
Depreciation and amortization		25,648	14,684
Stock-based compensation expense		7,795	8,464
Pension expense (income)	2,200	4,400	4,550
Net amortization (accretion) on investment securities		(1,693)	(989)
Net (gain) loss on investment securities		1,597	9,706
Gain on bargain purchase	3,189	12,081	0
Originations of loans held for sale		(338,329)	(257,106)
Net gains from sales of loans held for sale	(6,658)	(12,705)	(11,009)
Proceeds from sales of loans held for sale		747,829	254,791
Deferred income taxes		22,393	26,299
Operating Lease, Right-of-Use Asset, Amortization Expense		5,141	4,008
Payments for operating leases	(2,786)	(5,393)	(4,217)
Decrease (increase) cash surrender value of life insurance		3,555	2,667
Decrease (increase) in interest receivable		(5,295)	(444)
(Decrease) increase in interest payable		(6,084)	(7,007)
Decrease (increase) in other assets		(123,290)	39,014
(Decrease) increase in other liabilities		106,313	(91,965)
Net cash provided by (used in) operating activities		580,322	125,903
Investing activities
Proceeds from Sale of Debt Securities, Available-for-sale	364,800	560,428	164,537
Proceeds from calls, paydowns and maturities of securities available-for-sale		418,539	273,154
Payments to Acquire Debt Securities, Available-for-sale		1,645,457	548,283
Proceeds from calls, paydowns and maturities of securities held-to-maturity		12,609	4,093
Proceeds from Maturities, Prepayments and Calls of Other Investments		48,763	29,628
Payments to Acquire Other Investments		49,757	37,147
Net decrease (increase) in interest-bearing deposits with other banks		511,790	160,055
Net decrease (increase) in loans and leases		(62,572)	(41,061)
Proceeds from disposal of other real estate owned	64	64	0
Purchases of premises and equipment		(23,792)	(8,697)
Net change in operating leases		(27,739)	(7,981)
Payments to Acquire Businesses, Net of Cash Acquired		12,615	0
Payment to Acquire Life Insurance Policy, Investing Activities		0	(72)
Proceeds from Life Insurance Policy		1,582	915
Life insurance surrenders		17,893	0
Net cash provided by (used in) investing activities		(225,034)	(10,859)
Financing activities
Net (decrease) increase in total deposits		(47,969)	40,855
Net (decrease) increase in short-term borrowings		(75,848)	(70,753)
Payments of long-term debt		150,630	2,655
Payments of Debt Issuance Costs		(165)	0
Cash dividends paid on common stock		(52,868)	(46,562)
Net cash provided by (used in) financing activities		(327,480)	(79,115)
Cash and due from banks:
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation		27,808	35,929
Cash and due from bank at beginning of period		178,553	174,258
Cash and due from bank at end of period	206,361	206,361	210,187
Supplemental Disclosures
Interest Paid		189,243	185,761
Income Tax Paid, before Refund Received		2,528	1,665
Noncash or Part Noncash Acquisition, Investments Acquired		0	62,224
Stock Issued During Period, Value, Acquisitions		149,653	0
Business Combination [Line Items]
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets, Net Of Purchase Consideration			0
Business Combination, Recognized Liability Assumed, Liability			0
Goodwill	393	412	0
Business Combination, Bargain Purchase, Gain Recognized, Amount	(3,189)	(12,081)	$ 0
Westfield Bank
Business Combination [Line Items]
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets, Net Of Purchase Consideration	(499)	(499)
Business Combination, Recognized Liability Assumed, Liability	87	87
Goodwill		412
BankFinancial
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on bargain purchase		12,081
Business Combination [Line Items]
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets, Net Of Purchase Consideration	1,263,941	1,263,941
Business Combination, Recognized Liability Assumed, Liability	$ 1,251,860	1,251,860
Business Combination, Bargain Purchase, Gain Recognized, Amount		$ (12,081)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Gross loans and leases, excluding accrued interest	$ 13,734,914	$ 13,424,070
Less: Allowance for credit losses	(189,912)	(186,487)
Net loans and leases	13,545,002	13,237,583
ASSETS
Cash and due from banks	206,361	178,553
Interest-bearing deposits with other banks	579,194	597,338
Investment securities available-for-sale, at fair value (amortized cost $4,987,171 at June 30, 2026 and $4,182,075 at December 31, 2025)	4,733,713	3,971,932
Investment securities held-to-maturity (fair value $41,882 at June 30, 2026 and $54,334 at December 31, 2025)	46,067	58,545
Other Investments	137,755	129,564
Loans held for sale	33,125	16,953
Premises and equipment	229,763	204,760
Operating leases	241,742	214,003
Goodwill	1,099,936	1,099,524
Intangible Asset, Excluding Goodwill, after Accumulated Amortization	140,705	118,832
Other Assets	1,446,316	1,301,792
Total assets	22,439,679	21,129,379
Deposits
Interest-bearing	3,804,301	3,360,613
Savings	6,423,986	5,973,532
Time	3,650,043	3,622,227
Total interest-bearing deposits	13,878,330	12,956,372
Noninterest-bearing	3,704,899	3,465,470
Total deposits	17,583,229	16,421,842
FHLB short-term borrowings	570,000	675,000
Other Short-term Borrowings	39,532	332
Total short-term borrowings	609,532	675,332
Long-term debt	382,550	514,052
Total borrowed funds	992,082	1,189,384
Accrued interest and other liabilities	876,880	748,937
Total liabilities	$ 19,452,191	$ 18,360,163
Common Stock, Shares Authorized	160,000,000	160,000,000
SHAREHOLDERS' EQUITY
Authorized - 160,000,000 shares; Issued - 110,262,672 shares at June 30, 2026 and 104,281,794 shares at December 31, 2025	$ 1,792,158	$ 1,647,618
Retained earnings	1,535,765	1,437,286
Accumulated other comprehensive loss	(223,720)	(189,942)
Treasury stock, at cost, 5,306,214 shares at June 30, 2026 and 5,760,068 shares at December 31, 2025	(116,715)	(125,746)
Total shareholders' equity	2,987,488	2,769,216
Total liabilities and shareholders' equity	$ 22,439,679	$ 21,129,379
Common Stock, Shares, Issued	110,262,672	104,281,794
Commercial
Gross loans and leases, excluding accrued interest	$ 4,842,347	$ 4,632,241
Lease financing
Gross loans and leases, excluding accrued interest	659,328	638,527
Construction real estate
Gross loans and leases, excluding accrued interest	599,258	677,339
Commercial real estate
Gross loans and leases, excluding accrued interest	4,548,887	4,384,556
Residential real estate
Gross loans and leases, excluding accrued interest	1,805,044	1,832,184
Home equity
Gross loans and leases, excluding accrued interest	1,058,175	1,005,204
Installment
Gross loans and leases, excluding accrued interest	156,470	188,694
Credit card
Gross loans and leases, excluding accrued interest	$ 65,405	$ 65,325