First Financial Bancorp Announces Third Quarter and Year to Date 2025 Financial Results

CINCINNATI, Oct. 23, 2025 /PRNewswire/ -- First Financial Bancorp. (Nasdaq: FFBC) ("First Financial" or the "Company") announced financial results for the three and nine months ended September 30, 2025.

For the three months ended September 30, 2025, the Company reported net income of $71.9 million, or $0.75 per diluted common share. These results compare to net income of $70.0 million, or $0.73 per diluted common share, for the second quarter of 2025. For the nine months ended September 30, 2025, First Financial had earnings per diluted share of $2.02 compared to $1.72 for the same period in 2024.

Return on average assets for the third quarter of 2025 was 1.54% while return on average tangible common equity was 19.11% (1). These compare to return on average assets of 1.52% and return on average tangible common equity of 19.61% (1) in the second quarter of 2025.

Third quarter 2025 highlights include:

____________________________________________________________________________________________

(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.

Archie Brown, President and CEO, commented on third quarter results, "The third quarter of 2025 was another outstanding quarter for First Financial. Adjusted (1) net income was $72.6 million and adjusted (1) earnings per share were $0.76, which resulted in an adjusted (1) return on assets of 1.55% and an adjusted (1) return on tangible common equity of 19.3%."

Mr. Brown continued, "We achieved record revenue in the third quarter driven by a robust net interest margin and record noninterest income. We have successfully maintained asset yields, while moderating our funding costs, which combined to result in an industry-leading net interest margin. In addition, our diverse income streams remain a positive differentiator for us, with our adjusted (1) noninterest income representing 31% of total net revenue for the quarter.

Expenses continue to be well-managed. Excluding incentives tied to strong performance and the record fee income, total noninterest expenses were flat compared to the second quarter. Our workforce efficiency efforts continued during the period, and we have successfully reduced our full time equivalents by approximately 200, or 9%, since we began our initiative two years ago. We expect further efficiencies subsequent to the integration of our pending acquisitions."

Mr. Brown further remarked, "Loan balances declined modestly during the quarter, falling short of our expectations. Lower production in our specialty businesses, along with a greater percentage of construction originations, which fund over time, drove the modest decline. Loan pipelines are very healthy as we enter the fourth quarter, and we expect a return to mid-single digit loan growth as we close out the year."

Mr. Brown commented on asset quality and capital, "Asset quality metrics were stable for the third quarter. Nonperforming assets were flat as a percent of assets and annualized net charge-offs were 18 basis points, which was a slight improvement from the linked quarter.

We were very happy that our strong earnings led to the continued growth in tangible book value per share and tangible common equity during the third quarter. Tangible book value per share of $16.19 increased 5% from the linked quarter and 14% from a year ago, while tangible common equity increased 47 basis points from June 30 th, to 8.87% at the end of September."

Mr. Brown concluded, "We remain excited about our pending acquisitions and are pleased to have received formal regulatory approval for our acquisition of Westfield Bank, which is expected to close on November 1 st. Our application for the acquisition of BankFinancial is in process and we anticipate closing that transaction early in the first quarter of 2026.

We are very proud of our financial performance through the first nine months of the year, which have resulted in industry leading profitability. We expect to have another strong quarter to close 2025 and build positive momentum as we head into 2026."

Full detail of the Company's third quarter 2025 performance is provided in the accompanying financial statements and slide presentation.

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 24, 2025 at 8:30 a.m. Eastern Time. Members of the public who would like to listen to the conference call should dial (888) 550-5723 (U.S. toll free) or (646) 960-0471 (U.S. local), access code 5048068. The number should be dialed five to ten minutes prior to the start of the conference call. A replay of the conference call will be available beginning one hour after the completion of the live call at (800) 770-2030 (U.S. toll free), (609) 800-9099 (U.S. toll), access code 5048068. The recording will be available until November 7, 2025. 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. 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 are available to the public through the Investor Relations section of First Financial's website at www.bankatfirst.com.

Use of Non-GAAP Financial Measures

This earnings release contains GAAP financial measures and Non-GAAP financial measures where management believes it to be helpful in understanding the Company's results of operations or financial position. Where Non-GAAP financial measures are used, the comparable GAAP financial measures, as well as a reconciliation to the comparable GAAP financial measure, can be found in the section titled "Appendix: Non-GAAP to GAAP Reconciliation" in the accompanying slide presentation.

Forward-Looking Statements

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. 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. Examples of forward-looking statements include, but are not limited to, statements we make about (i) our future operating or financial performance, including revenues, income or loss and earnings or loss per share, (ii) future common stock dividends, (iii) our capital structure, including future capital levels, (iv) our plans, objectives and strategies, and (v) the assumptions that underlie our forward-looking statements.

As with any forecast or projection, forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that may cause actual results to differ materially from those set forth 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 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. Important factors that could cause actual results to differ materially from those in our forward-looking statements include the following, without limitation:

Additional factors that may cause our actual results to differ materially from those described in our forward-looking statements can be found in our Form 10-K for the year ended December 31, 2024, as well as our other filings with the SEC, which are available on the SEC website at www.sec.gov.

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, the Company does not assume any obligation to update any forward-looking statement.

About First Financial Bancorp.

First Financial Bancorp. is a Cincinnati, Ohio based bank holding company. As of September 30, 2025, the Company had $18.6 billion in assets, $11.7 billion in loans, $14.4 billion in deposits and $2.6 billion in shareholders' equity. The Company's subsidiary, First Financial Bank, founded in 1863, provides banking and financial services products through its six lines of business: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance and Wealth Management. These business units provide traditional banking services to business and retail clients. Wealth Management provides wealth planning, portfolio management, trust and estate, brokerage and retirement plan services and had approximately $4.0 billion in assets under management as of September 30, 2025. The Company operated 127 full service banking centers as of September 30, 2025, located in Ohio, Indiana, Kentucky and Illinois, while the Commercial Finance business lends into targeted industry verticals on a nationwide basis. In 2025, First Financial Bank received its second consecutive Outstanding rating from the Federal Reserve for its performance under the Community Reinvestment Act and was recognized as a Gallup Exceptional Workplace Award winner, one of only 70 Gallup clients worldwide to receive this designation. Additional information about the Company, including its products, services and banking locations, is available at www.bankatfirst.com.

FIRST FINANCIAL BANCORP.

CONSOLIDATED FINANCIAL HIGHLIGHTS

(Dollars in thousands, except per share data)

(Unaudited)

Three Months Ended,

Nine months ended,

Sep. 30,

June 30,

Mar. 31,

Dec. 31,

Sep. 30,

2025

2024

2025

2024

RESULTS OF OPERATIONS

Net income

$ 71,923

$ 69,996

$ 51,293

$ 64,885

$ 52,451

$ 193,212

$ 163,945

Net earnings per share - basic

$ 0.76

$ 0.74

$ 0.54

$ 0.69

$ 0.56

$ 2.04

$ 1.74

Net earnings per share - diluted

$ 0.75

$ 0.73

$ 0.54

$ 0.68

$ 0.55

$ 2.02

$ 1.72

Dividends declared per share

$ 0.25

$ 0.24

$ 0.73

$ 0.70

KEY FINANCIAL RATIOS

Return on average assets

1.54 %

1.52 %

1.13 %

1.41 %

1.17 %

1.40 %

1.24 %

Return on average shareholders' equity

11.08 %

11.16 %

8.46 %

10.57 %

8.80 %

10.26 %

9.50 %

Return on average tangible shareholders' equity (1)

19.11 %

19.61 %

15.16 %

19.08 %

16.29 %

18.03 %

18.02 %

Net interest margin

3.99 %

4.01 %

3.84 %

3.91 %

4.05 %

3.95 %

4.05 %

Net interest margin (fully tax equivalent) (1)(2)

4.02 %

4.05 %

3.88 %

3.94 %

4.08 %

3.98 %

4.09 %

Ending shareholders' equity as a percent of ending assets

14.18 %

13.73 %

13.55 %

13.13 %

13.50 %

14.18 %

13.50 %

Ending tangible shareholders' equity as a percent of:

Ending tangible assets (1)

8.87 %

8.40 %

8.16 %

7.73 %

7.98 %

8.87 %

7.98 %

Risk-weighted assets (1)

10.95 %

10.44 %

10.10 %

9.61 %

9.86 %

10.95 %

9.86 %

Average shareholders' equity as a percent of average assets

13.87 %

13.66 %

13.38 %

13.36 %

13.28 %

13.64 %

13.08 %

Average tangible shareholders' equity as a percent of average tangible assets (1)

8.54 %

8.26 %

7.94 %

7.87 %

7.64 %

8.25 %

7.35 %

Book value per share

$ 27.48

$ 26.71

$ 26.13

$ 25.53

$ 25.66

$ 27.48

$ 25.66

Tangible book value per share (1)

$ 16.19

$ 15.40

$ 14.80

$ 14.15

$ 14.26

$ 16.19

$ 14.26

Common equity tier 1 ratio (3)

12.91 %

12.57 %

12.29 %

12.16 %

12.04 %

12.91 %

12.04 %

Tier 1 ratio (3)

13.23 %

12.89 %

12.61 %

12.48 %

12.37 %

13.23 %

12.37 %

Total capital ratio (3)

15.32 %

14.98 %

14.90 %

14.64 %

14.58 %

15.32 %

14.58 %

Leverage ratio (3)

10.50 %

10.28 %

10.01 %

9.98 %

9.93 %

10.50 %

9.93 %

AVERAGE BALANCE SHEET ITEMS

Loans (4)

$ 11,806,065

$ 11,792,840

$ 11,724,727

$ 11,687,886

$ 11,534,000

$ 11,774,842

$ 11,347,720

Investment securities

3,552,014

3,478,921

3,411,593

3,372,539

3,274,498

3,481,357

3,181,575

Interest-bearing deposits with other banks

610,074

542,815

615,812

654,251

483,880

589,546

545,402

Total earning assets

$ 15,968,153

$ 15,814,576

$ 15,752,132

$ 15,714,676

$ 15,292,378

$ 15,845,745

$ 15,074,697

Total assets

$ 18,566,188

$ 18,419,437

$ 18,368,604

$ 18,273,419

$ 17,854,191

$ 18,452,133

$ 17,630,374

Noninterest-bearing deposits

$ 3,124,277

$ 3,143,081

$ 3,091,037

$ 3,162,643

$ 3,106,239

$ 3,119,587

$ 3,139,939

Interest-bearing deposits

11,387,648

11,211,694

11,149,633

11,177,010

10,690,265

11,250,530

10,429,538

Total deposits

$ 14,511,925

$ 14,354,775

$ 14,240,670

$ 14,339,653

$ 13,796,504

$ 14,370,117

$ 13,569,477

Borrowings

$ 823,346

$ 910,573

$ 1,001,337

$ 855,083

$ 1,053,737

$ 911,100

$ 1,121,086

Shareholders' equity

$ 2,575,203

$ 2,515,747

$ 2,457,785

$ 2,441,045

$ 2,371,125

$ 2,516,675

$ 2,306,147

CREDIT QUALITY RATIOS

Allowance to ending loans

1.38 %

1.34 %

1.33 %

1.37 %

1.38 %

1.37 %

Allowance to nonaccrual loans

213.18 %

206.08 %

261.07 %

237.66 %

242.72 %

213.18 %

242.72 %

Nonaccrual loans to total loans

0.65 %

0.51 %

0.56 %

0.57 %

0.65 %

0.57 %

Nonperforming assets to ending loans, plus OREO

0.65 %

0.51 %

0.56 %

0.57 %

0.65 %

0.57 %

Nonperforming assets to total assets

0.41 %

0.32 %

0.36 %

0.41 %

0.36 %

Classified assets to total assets

1.18 %

1.15 %

1.16 %

1.21 %

1.14 %

1.18 %

1.14 %

Net charge-offs to average loans (annualized)

0.18 %

0.21 %

0.36 %

0.40 %

0.25 %

0.26 %

(2) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% 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.

(3) September 30, 2025 regulatory capital ratios are preliminary.

(4) 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,

2025

2024

% Change

2025

2024

% Change

Interest income

Loans and leases, including fees

$ 204,865

$ 215,433

(4.9) %

$ 603,488

$ 629,033

(4.1) %

Investment securities

Taxable

36,421

32,367

12.5 %

107,065

90,958

17.7 %

Tax-exempt

2,195

2,616

(16.1) %

6,632

8,412

(21.2) %

Total investment securities interest

38,616

34,983

10.4 %

113,697

99,370

14.4 %

Other earning assets

6,773

6,703

1.0 %

19,388

22,121

(12.4) %

Total interest income

250,254

257,119

(2.7) %

736,573

750,524

(1.9) %

Interest expense

Deposits

77,766

86,554

(10.2) %

231,891

245,651

(5.6) %

Short-term borrowings

5,979

9,932

(39.8) %

19,917

32,270

(38.3) %

Long-term borrowings

6,023

5,073

18.7 %

16,714

14,992

11.5 %

Total interest expense

89,768

101,559

(11.6) %

268,522

292,913

(8.3) %

Net interest income

160,486

155,560

3.2 %

468,051

457,611

2.3 %

Provision for credit losses-loans and leases

8,612

9,930

(13.3) %

26,837

39,506

(32.1) %

Provision for credit losses-unfunded commitments

453

694

(34.7) %

730

(1,279)

(157.1) %

Net interest income after provision for credit losses

151,421

144,936

4.5 %

440,484

419,384

5.0 %

Noninterest income

Service charges on deposit accounts

7,829

7,547

3.7 %

23,058

21,647

6.5 %

Wealth management fees

7,351

6,910

6.4 %

23,275

20,758

12.1 %

Bankcard income

3,589

3,698

(2.9) %

10,636

10,740

(1.0) %

Client derivative fees

1,876

1,160

61.7 %

5,121

3,173

61.4 %

Foreign exchange income

16,666

12,048

38.3 %

42,970

39,270

9.4 %

Leasing business income

20,997

16,811

24.9 %

60,497

48,228

25.4 %

Net gains from sales of loans

6,835

5,021

36.1 %

17,844

13,284

34.3 %

Net gain (loss) on investment securities

(42)

(17,468)

(99.8) %

(9,748)

(22,719)

(57.1) %

Other

8,424

9,974

(15.5) %

19,018

19,333

(1.6) %

Total noninterest income

73,525

45,701

60.9 %

192,671

153,714

25.3 %

Noninterest expenses

Salaries and employee benefits

80,607

74,813

7.7 %

230,762

224,075

3.0 %

Net occupancy

6,003

5,919

1.4 %

17,867

17,635

1.3 %

Furniture and equipment

3,582

3,617

(1.0) %

10,836

10,951

(1.1) %

Data processing

9,591

8,857

8.3 %

27,370

26,039

5.1 %

Marketing

2,359

2,255

4.6 %

7,114

6,822

4.3 %

Communication

695

851

(18.3) %

2,188

2,462

(11.1) %

Professional services

2,314

2,303

0.5 %

8,602

7,456

15.4 %

Amortization of tax credit investments

112

250.0 %

335

256.4 %

State intangible tax

1,531

876

74.8 %

3,925

2,628

49.4 %

FDIC assessments

2,611

3,036

(14.0) %

8,281

8,473

(2.3) %

Intangible amortization

2,359

2,395

(1.5) %

7,076

7,092

(0.2) %

Leasing business expense

13,911

11,899

16.9 %

39,868

31,781

25.4 %

Other

8,594

8,906

(3.5) %

26,792

26,180

2.3 %

Total noninterest expenses

134,269

125,759

6.8 %

391,016

371,688

5.2 %

Income before income taxes

90,677

64,878

39.8 %

242,139

201,410

20.2 %

Income tax expense

18,754

12,427

50.9 %

48,927

37,465

30.6 %

Net income

$ 71,923

$ 52,451

37.1 %

$ 193,212

$ 163,945

17.9 %

ADDITIONAL DATA

Net earnings per share - basic

$ 0.76

$ 0.56

$ 2.04

$ 1.74

Net earnings per share - diluted

$ 0.75

$ 0.55

$ 2.02

$ 1.72

Dividends declared per share

$ 0.25

$ 0.24

$ 0.73

$ 0.70

Return on average assets

1.54 %

1.17 %

1.40 %

1.24 %

Return on average shareholders' equity

11.08 %

8.80 %

10.26 %

9.50 %

Interest income

$ 250,254

$ 257,119

(2.7) %

$ 736,573

$ 750,524

(1.9) %

Tax equivalent adjustment

1,248

1,362

(8.4) %

3,707

4,315

(14.1) %

Interest income - tax equivalent

251,502

258,481

(2.7) %

740,280

754,839

(1.9) %

Interest expense

89,768

101,559

(11.6) %

268,522

292,913

(8.3) %

Net interest income - tax equivalent

$ 161,734

$ 156,922

3.1 %

$ 471,758

$ 461,926

2.1 %

Net interest margin

3.99 %

4.05 %

3.95 %

4.05 %

Net interest margin (fully tax equivalent) (1)

4.02 %

4.08 %

3.98 %

4.09 %

Full-time equivalent employees

1,986

2,084

(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% 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 QUARTERLY STATEMENTS OF INCOME

(Dollars in thousands, except per share data)

(Unaudited)

2025

Third

Second

First

Year to

% Change

Quarter

Date

Linked Qtr.

Interest income

Loans and leases, including fees

$ 204,865

$ 201,460

$ 197,163

$ 603,488

1.7 %

Investment securities

Taxable

36,421

36,243

34,401

107,065

0.5 %

Tax-exempt

2,195

2,233

2,204

6,632

(1.7) %

Total investment securities interest

38,616

38,476

36,605

113,697

0.4 %

Other earning assets

6,773

5,964

6,651

19,388

13.6 %

Total interest income

250,254

245,900

240,419

736,573

1.8 %

Interest expense

Deposits

77,766

75,484

78,641

231,891

3.0 %

Short-term borrowings

5,979

6,393

7,545

19,917

(6.5) %

Long-term borrowings

6,023

5,754

4,937

16,714

4.7 %

Total interest expense

89,768

87,631

91,123

268,522

2.4 %

Net interest income

160,486

158,269

149,296

468,051

1.4 %

Provision for credit losses-loans and leases

8,612

9,084

9,141

26,837

(5.2) %

Provision for credit losses-unfunded commitments

453

718

(441)

730

(36.9) %

Net interest income after provision for credit losses

151,421

148,467

140,596

440,484

2.0 %

Noninterest income

Service charges on deposit accounts

7,829

7,766

7,463

23,058

0.8 %

Wealth management fees

7,351

7,787

8,137

23,275

(5.6) %

Bankcard income

3,589

3,737

3,310

10,636

(4.0) %

Client derivative fees

1,876

1,674

1,571

5,121

12.1 %

Foreign exchange income

16,666

13,760

12,544

42,970

21.1 %

Leasing business income

20,997

20,797

18,703

60,497

1.0 %

Net gains from sales of loans

6,835

6,687

4,322

17,844

2.2 %

Net gain (loss) on investment securities

(42)

243

(9,949)

(9,748)

(117.3) %

Other

8,424

5,612

4,982

19,018

50.1 %

Total noninterest income

73,525

68,063

51,083

192,671

8.0 %

Noninterest expenses

Salaries and employee benefits

80,607

74,917

75,238

230,762

7.6 %

Net occupancy

6,003

5,845

6,019

17,867

2.7 %

Furniture and equipment

3,582

3,441

3,813

10,836

4.1 %

Data processing

9,591

9,020

8,759

27,370

6.3 %

Marketing

2,359

2,737

2,018

7,114

(13.8) %

Communication

695

681

812

2,188

2.1 %

Professional services

2,314

3,549

2,739

8,602

(34.8) %

Amortization of tax credit investments

112

111

112

335

0.9 %

State intangible tax

1,531

1,517

877

3,925

0.9 %

FDIC assessments

2,611

3,059

8,281

0.0 %

Intangible amortization

2,359

2,358

2,359

7,076

0.0 %

Leasing business expense

13,911

13,155

12,802

39,868

5.7 %

Other

8,594

8,729

9,469

26,792

(1.5) %

Total noninterest expenses

134,269

128,671

128,076

391,016

4.4 %

Income before income taxes

90,677

87,859

63,603

242,139

3.2 %

Income tax expense

18,754

17,863

12,310

48,927

5.0 %

Net income

$ 71,923

$ 69,996

$ 51,293

$ 193,212

2.8 %

ADDITIONAL DATA

Net earnings per share - basic

$ 0.76

$ 0.74

$ 0.54

$ 2.04

Net earnings per share - diluted

$ 0.75

$ 0.73

$ 0.54

$ 2.02

Dividends declared per share

$ 0.25

$ 0.24

$ 0.73

Return on average assets

1.54 %

1.52 %

1.13 %

1.40 %

Return on average shareholders' equity

11.08 %

11.16 %

8.46 %

10.26 %

Interest income

$ 250,254

$ 245,900

$ 240,419

$ 736,573

1.8 %

Tax equivalent adjustment

1,248

1,246

1,213

3,707

0.2 %

Interest income - tax equivalent

251,502

247,146

241,632

740,280

1.8 %

Interest expense

89,768

87,631

91,123

268,522

2.4 %

Net interest income - tax equivalent

$ 161,734

$ 159,515

$ 150,509

$ 471,758

1.4 %

Net interest margin

3.99 %

4.01 %

3.84 %

3.95 %

Net interest margin (fully tax equivalent) (1)

4.02 %

4.05 %

3.88 %

3.98 %

Full-time equivalent employees

1,986

2,033

2,021

FIRST FINANCIAL BANCORP.

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME

(Dollars in thousands, except per share data)

(Unaudited)

2024

Fourth

Third

Second

First

Full

Quarter

Year

Interest income

Loans and leases, including fees

$ 207,508

$ 215,433

$ 211,760

$ 201,840

$ 836,541

Investment securities

Taxable

33,978

32,367

30,295

28,296

124,936

Tax-exempt

2,423

2,616

2,704

3,092

10,835

Total investment securities interest

36,401

34,983

32,999

31,388

135,771

Other earning assets

7,662

6,703

7,960

7,458

29,783

Total interest income

251,571

257,119

252,719

240,686

1,002,095

Interest expense

Deposits

85,441

86,554

83,022

76,075

331,092

Short-term borrowings

6,586

9,932

11,395

10,943

38,856

Long-term borrowings

5,145

5,073

4,991

4,928

20,137

Total interest expense

97,172

101,559

99,408

91,946

390,085

Net interest income

154,399

155,560

153,311

148,740

612,010

Provision for credit losses-loans and leases

9,705

9,930

16,157

13,419

49,211

Provision for credit losses-unfunded commitments

(273)

694

286

(2,259)

(1,552)

Net interest income after provision for credit losses

144,967

144,936

136,868

137,580

564,351

Noninterest income

Service charges on deposit accounts

7,632

7,547

7,188

6,912

29,279

Wealth management fees

7,962

6,910

7,172

6,676

28,720

Bankcard income

3,659

3,698

3,900

3,142

14,399

Client derivative fees

1,528

1,160

763

1,250

4,701

Foreign exchange income

16,794

12,048

16,787

10,435

56,064

Leasing business income

19,413

16,811

16,828

14,589

67,641

Net gains from sales of loans

4,634

5,021

4,479

3,784

17,918

Net gain (loss) on investment securities

144

(17,468)

(64)

(5,187)

(22,575)

Other

8,088

9,974

4,448

4,911

27,421

Total noninterest income

69,854

45,701

61,501

46,512

223,568

Noninterest expenses

Salaries and employee benefits

80,314

74,813

75,225

74,037

304,389

Net occupancy

5,415

5,919

5,793

5,923

23,050

Furniture and equipment

3,476

3,617

3,646

3,688

14,427

Data processing

9,139

8,857

8,877

8,305

35,178

Marketing

2,204

2,255

2,605

1,962

9,026

Communication

767

851

816

795

3,229

Professional services

6,631

2,303

2,885

2,268

14,087

Amortization of tax credit investments

14,303

14,397

State intangible tax

(104)

876

875

877

2,524

FDIC assessments

2,736

3,036

2,657

2,780

11,209

Intangible amortization

2,395

2,396

2,301

9,487

Leasing business expense

12,536

11,899

10,128

9,754

44,317

Other

8,095

8,906

7,640

9,634

34,275

Total noninterest expenses

147,907

125,759

123,574

122,355

519,595

Income before income taxes

66,914

64,878

74,795

61,737

268,324

Income tax expense

2,029

12,427

13,990

11,048

39,494

Net income

$ 64,885

$ 52,451

$ 60,805

$ 50,689

$ 228,830

ADDITIONAL DATA

Net earnings per share - basic

$ 0.69

$ 0.56

$ 0.64

$ 0.54

$ 2.42

Net earnings per share - diluted

$ 0.68

$ 0.55

$ 0.64

$ 0.53

$ 2.40

Dividends declared per share

$ 0.24

$ 0.23

$ 0.94

Return on average assets

1.41 %

1.17 %

1.38 %

1.18 %

1.29 %

Return on average shareholders' equity

10.57 %

8.80 %

10.72 %

9.00 %

9.78 %

Interest income

$ 251,571

$ 257,119

$ 252,719

$ 240,686

$ 1,002,095

Tax equivalent adjustment

1,274

1,362

1,418

1,535

5,589

Interest income - tax equivalent

252,845

258,481

254,137

242,221

1,007,684

Interest expense

97,172

101,559

99,408

91,946

390,085

Net interest income - tax equivalent

$ 155,673

$ 156,922

$ 154,729

$ 150,275

$ 617,599

Net interest margin

3.91 %

4.05 %

4.06 %

4.05 %

4.02 %

Net interest margin (fully tax equivalent) (1)

3.94 %

4.08 %

4.10 %

4.05 %

Full-time equivalent employees

2,064

2,084

2,144

2,116

FIRST FINANCIAL BANCORP.

CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)

(Unaudited)

Sep. 30,

June 30,

Mar. 31,

Dec. 31,

Sep. 30,

% Change

2025

2024

Linked Qtr.

Comp Qtr.

ASSETS

Cash and due from banks

$ 174,659

$ 210,187

$ 190,610

$ 174,258

$ 190,618

(16.9) %

(8.4) %

Interest-bearing deposits with other banks

565,080

570,173

633,349

730,228

660,576

(0.9) %

(14.5) %

Investment securities available-for-sale

3,422,595

3,386,562

3,260,981

3,183,776

3,157,265

1.1 %

8.4 %

Investment securities held-to-maturity

71,595

72,994

76,469

76,960

77,985

(1.9) %

(8.2) %

Other investments

117,120

122,322

120,826

114,598

120,318

(4.3) %

(2.7) %

Loans held for sale

21,466

26,504

17,927

13,181

12,685

(19.0) %

69.2 %

Loans and leases

Commercial and industrial

3,838,630

3,927,771

3,832,350

3,815,858

3,678,546

(2.3) %

4.4 %

Lease financing

596,734

587,176

573,608

598,045

587,415

1.6 %

Construction real estate

627,960

732,777

824,775

779,446

802,264

(14.3) %

(21.7) %

Commercial real estate

4,048,370

3,961,513

3,956,880

4,061,744

4,034,820

2.2 %

0.3 %

Residential real estate

1,494,464

1,492,688

1,479,704

1,462,284

1,422,186

0.1 %

5.1 %

Home equity

935,975

903,299

872,502

849,039

825,431

3.6 %

13.4 %

Installment

109,764

116,598

119,672

133,051

141,270

(5.9) %

(22.3) %

Credit card

62,654

64,374

64,639

62,311

61,140

(2.7) %

2.5 %

Total loans

11,714,551

11,786,196

11,724,130

11,761,778

11,553,072

(0.6) %

1.4 %

Less:

Allowance for credit losses

(161,916)

(158,522)

(155,482)

(156,791)

(158,831)

2.1 %

1.9 %

Net loans

11,552,635

11,627,674

11,568,648

11,604,987

11,394,241

(0.6) %

1.4 %

Premises and equipment

198,251

197,741

197,968

197,965

196,692

0.3 %

0.8 %

Operating leases

214,667

217,100

213,648

209,119

201,080

(1.1) %

6.8 %

Goodwill

1,007,656

0.0 %

Other intangibles

73,797

75,458

77,002

79,291

81,547

(2.2) %

(9.5) %

Accrued interest and other assets

1,134,985

1,119,884

1,089,983

1,178,242

1,045,669

1.3 %

8.5 %

Total Assets

$ 18,554,506

$ 18,634,255

$ 18,455,067

$ 18,570,261

$ 18,146,332

(0.4) %

2.2 %

LIABILITIES

Deposits

Interest-bearing demand

$ 2,983,132

$ 3,057,232

$ 3,004,601

$ 3,095,724

$ 2,884,971

(2.4) %

3.4 %

Savings

5,029,097

4,979,124

4,886,613

4,948,768

4,710,223

1.0 %

6.8 %

Time

3,293,707

3,201,711

3,144,440

3,152,265

3,244,861

2.9 %

1.5 %

Total interest-bearing deposits

11,305,936

11,238,067

11,035,654

11,196,757

10,840,055

0.6 %

4.3 %

Noninterest-bearing

3,127,512

3,131,926

3,161,302

3,132,381

3,107,699

(0.1) %

0.6 %

Total deposits

14,433,448

14,369,993

14,196,956

14,329,138

13,947,754

0.4 %

3.5 %

FHLB short-term borrowings

550,000

680,000

735,000

625,000

765,000

(19.1) %

(28.1) %

Other

45,167

4,699

64,792

130,452

46,653

861.2 %

(3.2) %

Total short-term borrowings

595,167

684,699

799,792

755,452

811,653

(13.1) %

(26.7) %

Long-term debt

221,823

344,955

345,878

347,509

344,086

(35.7) %

(35.5) %

Total borrowed funds

816,990

1,029,654

1,145,670

1,102,961

1,155,739

(20.7) %

(29.3) %

Accrued interest and other liabilities

672,213

676,453

611,206

700,121

592,401

(0.6) %

13.5 %

Total Liabilities

15,922,651

16,076,100

15,953,832

16,132,220

15,695,894

(1.0) %

1.4 %

SHAREHOLDERS' EQUITY

Common stock

1,641,315

1,638,796

1,637,041

1,642,055

1,639,045

0.2 %

0.1 %

Retained earnings

1,399,577

1,351,674

1,304,636

1,276,329

1,234,375

3.5 %

13.4 %

Accumulated other comprehensive income (loss)

(223,000)

(246,384)

(253,888)

(289,799)

(232,262)

(9.5) %

(4.0) %

Treasury stock, at cost

(186,037)

(185,931)

(186,554)

(190,544)

(190,720)

0.1 %

(2.5) %

Total Shareholders' Equity

2,631,855

2,558,155

2,501,235

2,438,041

2,450,438

2.9 %

7.4 %

Total Liabilities and Shareholders' Equity

$ 18,554,506

$ 18,634,255

$ 18,455,067

$ 18,570,261

$ 18,146,332

(0.4) %

2.2 %

FIRST FINANCIAL BANCORP.

AVERAGE CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)

(Unaudited)

Quarterly Averages

Year-to-Date Averages

Sep. 30,

June 30,

Mar. 31,

Dec. 31,

Sep. 30,

2025

2024

2025

2024

ASSETS

Cash and due from banks

$ 165,210

$ 174,375

$ 164,734

$ 182,242

$ 179,321

$ 168,108

$ 185,934

Interest-bearing deposits with other banks

610,074

542,815

615,812

654,251

483,880

589,546

545,402

Investment securities

3,552,014

3,478,921

3,411,593

3,372,539

3,274,498

3,481,357

3,181,575

Loans held for sale

26,366

25,026

10,212

17,284

16,399

20,594

14,189

Loans and leases

Commercial and industrial

3,890,886

3,881,001

3,787,207

3,727,549

3,723,761

3,853,411

3,661,335

Lease financing

592,510

581,091

585,119

587,110

550,634

586,267

513,779

Construction real estate

711,011

784,028

797,100

826,936

763,779

763,731

684,136

Commercial real estate

3,993,549

3,958,730

4,018,211

4,045,347

4,059,939

3,990,073

4,102,491

Residential real estate

1,489,942

1,485,479

1,475,703

1,442,799

1,399,932

1,483,760

1,366,062

Home equity

919,368

891,761

858,153

837,863

811,265

889,985

789,101

Installment

114,058

117,724

127,192

136,927

143,102

119,610

150,811

Credit card

68,375

68,000

65,830

66,071

65,189

67,411

65,816

Total loans

11,779,699

11,767,814

11,714,515

11,670,602

11,517,601

11,754,248

11,333,531

Less:

Allowance for credit losses

(162,417)

(158,170)

(158,206)

(161,477)

(159,252)

(159,613)

(150,322)

Net loans

11,617,282

11,609,644

11,556,309

11,509,125

11,358,349

11,594,635

11,183,209

Premises and equipment

199,167

198,407

198,998

197,664

197,881

198,858

198,484

Operating leases

217,404

212,684

205,181

202,110

180,118

211,801

163,803

Goodwill

1,007,656

1,007,658

1,007,654

1,007,656

1,007,264

Other intangibles

74,448

76,076

78,220

80,486

82,619

76,234

83,764

Accrued interest and other assets

1,096,567

1,093,833

1,119,889

1,050,060

1,073,472

1,103,344

1,066,750

Total Assets

$ 18,566,188

$ 18,419,437

$ 18,368,604

$ 18,273,419

$ 17,854,191

$ 18,452,133

$ 17,630,374

LIABILITIES

Deposits

Interest-bearing demand

$ 3,036,296

$ 3,066,986

$ 3,090,526

$ 3,081,148

$ 2,914,934

$ 3,064,404

$ 2,899,707

Savings

5,054,563

5,005,526

4,918,004

4,886,784

4,694,923

4,993,198

4,571,236

Time

3,296,789

3,139,182

3,141,103

3,209,078

3,080,408

3,192,928

2,958,595

Total interest-bearing deposits

11,387,648

11,211,694

11,149,633

11,177,010

10,690,265

11,250,530

10,429,538

Noninterest-bearing

3,124,277

3,143,081

3,091,037

3,162,643

3,106,239

3,119,587

3,139,939

Total deposits

14,511,925

14,354,775

14,240,670

14,339,653

13,796,504

14,370,117

13,569,477

Federal funds purchased and securities sold

under agreements to repurchase

12,434

4,780

2,055

2,282

10,807

6,461

5,274

FHLB short-term borrowings

497,092

532,198

553,667

415,652

626,490

527,445

647,187

Other

21,519

26,226

99,378

93,298

76,859

48,756

128,112

Total short-term borrowings

531,045

563,204

655,100

511,232

714,156

582,662

780,573

Long-term debt

292,301

347,369

346,237

343,851

339,581

328,438

340,513

Total borrowed funds

823,346

910,573

1,001,337

855,083

1,053,737

911,100

1,121,086

Accrued interest and other liabilities

655,714

638,342

668,812

637,638

632,825

654,241

633,664

Total Liabilities

15,990,985

15,903,690

15,910,819

15,832,374

15,483,066

15,935,458

15,324,227

SHAREHOLDERS' EQUITY

Common stock

1,639,986

1,637,782

1,641,016

1,640,280

1,637,045

1,639,591

1,636,357

Retained earnings

1,369,069

1,322,168

1,282,300

1,249,263

1,210,924

1,324,830

1,178,518

Accumulated other comprehensive loss

(247,746)

(257,873)

(275,068)

(257,792)

(285,978)

(260,129)

(315,731)

Treasury stock, at cost

(186,106)

(186,330)

(190,463)

(190,706)

(190,866)

(187,617)

(192,997)

Total Shareholders' Equity

2,575,203

2,515,747

2,457,785

2,441,045

2,371,125

2,516,675

2,306,147

Total Liabilities and Shareholders' Equity

$ 18,566,188

$ 18,419,437

$ 18,368,604

$ 18,273,419

$ 17,854,191

$ 18,452,133

$ 17,630,374

FIRST FINANCIAL BANCORP.

NET INTEREST MARGIN RATE/VOLUME ANALYSIS

(Dollars in thousands)

(Unaudited)

Quarterly Averages

Year-to-Date Averages

September 30, 2025

June 30, 2025

September 30, 2024

September 30, 2025

September 30, 2024

Balance

Interest

Yield

Balance

Interest

Yield

Balance

Interest

Yield

Balance

Yield

Balance

Yield

Earning assets

Investments:

Investment securities

$ 3,552,014

$ 38,616

4.31 %

$ 3,478,921

$ 38,476

4.44 %

$ 3,274,498

$ 34,983

4.24 %

$ 3,481,357

4.37 %

$ 3,181,575

4.18 %

Interest-bearing deposits with other banks

610,074

6,773

4.40 %

542,815

5,964

4.41 %

483,880

6,703

5.50 %

589,546

4.40 %

545,402

5.42 %

Gross loans (1)

11,806,065

204,865

6.88 %

11,792,840

201,460

6.85 %

11,534,000

215,433

7.41 %

11,774,842

6.85 %

11,347,720

7.41 %

Total earning assets

15,968,153

250,254

6.22 %

15,814,576

245,900

6.24 %

15,292,378

257,119

6.67 %

15,845,745

6.21 %

15,074,697

6.66 %

Nonearning assets

Allowance for credit losses

(162,417)

(158,170)

(159,252)

(159,613)

(150,322)

Cash and due from banks

165,210

174,375

179,321

168,108

185,934

Accrued interest and other assets

2,595,242

2,588,656

2,541,744

2,597,893

2,520,065

Total assets

$ 18,566,188

$ 18,419,437

$ 17,854,191

$ 18,452,133

$ 17,630,374

Interest-bearing liabilities

Deposits:

Interest-bearing demand

$ 3,036,296

$ 14,592

1.91 %

$ 3,066,986

$ 14,139

1.85 %

$ 2,914,934

$ 15,919

2.17 %

$ 3,064,404

1.92 %

$ 2,899,707

2.11 %

Savings

5,054,563

30,854

2.42 %

5,005,526

29,942

2.40 %

4,694,923

34,220

2.89 %

4,993,198

2.44 %

4,571,236

2.83 %

Time

3,296,789

32,320

3.89 %

3,139,182

31,403

4.01 %

3,080,408

36,415

4.69 %

3,192,928

4.05 %

2,958,595

4.66 %

Total interest-bearing deposits

11,387,648

77,766

2.71 %

11,211,694

75,484

2.70 %

10,690,265

86,554

3.21 %

11,250,530

2.76 %

10,429,538

3.15 %

Borrowed funds

Short-term borrowings

531,045

5,979

4.47 %

563,204

6,393

4.55 %

714,156

9,932

5.52 %

582,662

4.57 %

780,573

5.53 %

Long-term debt

292,301

6,023

8.17 %

347,369

5,754

6.64 %

339,581

5,073

5.93 %

328,438

6.80 %

340,513

5.89 %

Total borrowed funds

823,346

12,002

5.78 %

910,573

12,147

5.35 %

1,053,737

15,005

5.65 %

911,100

5.38 %

1,121,086

5.64 %

Total interest-bearing liabilities

12,210,994

89,768

2.92 %

12,122,267

87,631

2.90 %

11,744,002

101,559

3.43 %

12,161,630

2.95 %

11,550,624

3.39 %

Noninterest-bearing liabilities

Noninterest-bearing demand deposits

3,124,277

3,143,081

3,106,239

3,119,587

3,139,939

Other liabilities

655,714

638,342

632,825

654,241

633,664

Shareholders' equity

2,575,203

2,515,747

2,371,125

2,516,675

2,306,147

Total liabilities & shareholders' equity

$ 18,566,188

$ 18,419,437

$ 17,854,191

$ 18,452,133

$ 17,630,374

Net interest income

$ 160,486

$ 158,269

$ 155,560

$ 468,051

$ 457,611

Net interest spread

3.30 %

3.34 %

3.24 %

3.26 %

3.27 %

Net interest margin

3.99 %

4.01 %

4.05 %

3.95 %

4.05 %

Tax equivalent adjustment

0.03 %

0.04 %

0.03 %

0.04 %

Net interest margin (fully tax equivalent)

4.02 %

4.05 %

4.08 %

3.98 %

4.09 %

(1) Loans held for sale and nonaccrual loans 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

$ (1,066)

$ 1,206

$ 140

$ 616

$ 3,017

$ 3,633

$ 4,536

$ 9,791

$ 14,327

Interest-bearing deposits with other banks

(3)

812

809

(1,331)

1,401

(4,185)

1,452

(2,733)

Gross loans (2)

951

2,454

3,405

(15,289)

4,721

(10,568)

(47,436)

21,891

(25,545)

Total earning assets

(118)

4,472

4,354

(16,004)

9,139

(6,865)

(47,085)

33,134

(13,951)

Interest-bearing liabilities

Total interest-bearing deposits

$ 248

$ 2,034

$ 2,282

$ (13,550)

$ 4,762

$ (8,788)

$ (30,682)

$ 16,922

$ (13,760)

Borrowed funds

Short-term borrowings

(121)

(293)

(414)

(1,891)

(2,062)

(3,953)

(5,588)

(6,765)

(12,353)

Long-term debt

1,326

(1,057)

269

1,924

(974)

950

2,336

(614)

1,722

Total borrowed funds

1,205

(1,350)

(145)

(3,036)

(3,003)

(3,252)

(7,379)

(10,631)

Total interest-bearing liabilities

1,453

684

2,137

(13,517)

1,726

(11,791)

(33,934)

9,543

(24,391)

Net interest income (1)

$ (1,571)

$ 3,788

$ 2,217

$ (2,487)

$ 7,413

$ 4,926

$ (13,151)

$ 23,591

$ 10,440

(1) Not tax equivalent.

(2) Loans held for sale and nonaccrual loans are included in gross loans.

FIRST FINANCIAL BANCORP.

CREDIT QUALITY

(Dollars in thousands)

(Unaudited)

Three Months Ended,

Nine months ended,

Sep. 30,

June 30,

Mar. 31,

Dec. 31,

Sep. 30,

2025

2024

2025

2024

ALLOWANCE FOR CREDIT LOSS ACTIVITY

Balance at beginning of period

$ 158,522

$ 155,482

$ 156,791

$ 158,831

$ 156,185

$ 156,791

$ 141,433

Provision for credit losses

8,612

9,084

9,141

9,705

9,930

26,837

39,506

Gross charge-offs

Commercial and industrial

2,165

4,996

8,178

4,333

5,471

15,339

10,315

Lease financing

298

606

1,454

2,831

368

2,358

561

Construction real estate

245

Commercial real estate

3,105

5,051

261

3,105

5,582

Residential real estate

131

Home equity

100

210

278

237

Installment

1,194

1,120

1,321

1,680

1,510

3,635

5,780

Credit card

577

489

474

492

768

1,540

2,094

Total gross charge-offs

7,676

7,327

11,513

14,609

8,528

26,516

24,700

Recoveries

Commercial and industrial

202

290

195

1,779

434

687

832

Lease financing

291

331

Construction real estate

Commercial real estate

1,138

1,232

200

Residential real estate

124

Home equity

144

222

240

312

438

Installment

609

716

563

499

421

1,888

785

Credit card

305

230

183

Total recoveries

2,458

1,283

1,063

2,864

1,244

4,804

2,592

Total net charge-offs

5,218

6,044

10,450

11,745

7,284

21,712

22,108

Ending allowance for credit losses

$ 161,916

$ 158,522

$ 155,482

$ 156,791

$ 158,831

$ 161,916

$ 158,831

NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)

Commercial and industrial

0.20 %

0.49 %

0.85 %

0.27 %

0.54 %

0.51 %

0.35 %

Lease financing

0.00 %

0.41 %

0.99 %

1.91 %

0.26 %

0.46 %

0.13 %

Construction real estate

0.14 %

0.00 %

0.04 %

0.00 %

Commercial real estate

0.20 %

(0.01) %

0.00 %

0.49 %

0.02 %

0.06 %

0.18 %

Residential real estate

(0.02) %

(0.01) %

0.00 %

0.01 %

(0.01) %

0.00 %

Home equity

0.00 %

0.01 %

(0.03) %

(0.01) %

(0.07) %

(0.01) %

(0.03) %

Installment

2.03 %

1.38 %

2.42 %

3.43 %

3.03 %

1.95 %

4.42 %

Credit card

2.97 %

2.41 %

2.40 %

1.13 %

4.13 %

2.60 %

3.88 %

Total net charge-offs

0.18 %

0.21 %

0.36 %

0.40 %

0.25 %

0.26 %

COMPONENTS OF NONACCRUAL LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS

Nonaccrual loans

Commercial and industrial

$ 23,832

$ 24,489

$ 7,649

$ 6,641

$ 10,703

$ 23,832

$ 10,703

Lease financing

5,885

6,243

6,487

6,227

11,632

5,885

11,632

Construction real estate

1,120

1,365

1,120

Commercial real estate

24,443

23,905

25,736

32,303

23,608

24,443

23,608

Residential real estate

16,452

16,995

16,044

16,700

14,596

16,452

14,596

Home equity

3,567

3,226

2,920

3,418

4,074

3,567

4,074

Installment

652

701

719

684

826

652

826

Total nonaccrual loans

75,951

76,924

59,555

65,973

65,439

75,951

65,439

Other real estate owned (OREO)

111

204

213

111

Total nonperforming assets

76,062

77,128

59,768

66,037

65,469

76,062

65,469

Accruing loans past due 90 days or more

592

714

228

361

463

592

463

Total underperforming assets

$ 76,654

$ 77,842

$ 59,996

$ 66,398

$ 65,932

$ 76,654

$ 65,932

Total classified assets

$ 218,794

$ 214,346

$ 213,351

$ 224,084

$ 206,194

$ 218,794

$ 206,194

CREDIT QUALITY RATIOS

Allowance for credit losses to

Nonaccrual loans

213.18 %

206.08 %

261.07 %

237.66 %

242.72 %

213.18 %

242.72 %

Total ending loans

1.38 %

1.34 %

1.33 %

1.37 %

1.38 %

1.37 %

Nonaccrual loans to total loans

0.65 %

0.51 %

0.56 %

0.57 %

0.65 %

0.57 %

Nonperforming assets to

Ending loans, plus OREO

0.65 %

0.51 %

0.56 %

0.57 %

0.65 %

0.57 %

Total assets

0.41 %

0.32 %

0.36 %

0.41 %

0.36 %

Classified assets to total assets

1.18 %

1.15 %

1.16 %

1.21 %

1.14 %

1.18 %

1.14 %

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,

2025

2024

2025

2024

PER COMMON SHARE

Market Price

High

$ 26.79

$ 25.19

$ 29.04

$ 30.34

$ 28.09

$ 29.04

$ 28.09

Low

$ 23.55

$ 22.05

$ 24.25

$ 23.98

$ 21.70

$ 22.05

$ 20.79

$ 25.25

$ 24.26

$ 24.98

$ 26.88

$ 25.23

$ 25.25

$ 25.23

Average shares outstanding - basic

94,889,341

94,860,428

94,645,787

94,486,838

94,473,666

94,799,411

94,377,010

Average shares outstanding - diluted

95,753,798

95,741,696

95,524,262

95,487,564

95,479,510

95,674,093

95,378,238

Ending shares outstanding

95,757,250

95,760,617

95,730,353

95,494,840

95,486,317

95,757,250

95,486,317

Total shareholders' equity

$ 2,631,855

$ 2,558,155

$ 2,501,235

$ 2,438,041

$ 2,450,438

$ 2,631,855

$ 2,450,438

REGULATORY CAPITAL

Preliminary

Common equity tier 1 capital

$ 1,828,843

$ 1,776,038

$ 1,724,134

$ 1,709,422

$ 1,661,759

$ 1,828,843

$ 1,661,759

Common equity tier 1 capital ratio

12.91 %

12.57 %

12.29 %

12.16 %

12.04 %

12.91 %

12.04 %

Tier 1 capital

$ 1,874,191

$ 1,821,316

$ 1,769,357

$ 1,754,584

$ 1,706,796

$ 1,874,191

$ 1,706,796

Tier 1 ratio

13.23 %

12.89 %

12.61 %

12.48 %

12.37 %

13.23 %

12.37 %

Total capital

$ 2,170,521

$ 2,116,180

$ 2,090,211

$ 2,057,877

$ 2,012,349

$ 2,170,521

$ 2,012,349

Total capital ratio

15.32 %

14.98 %

14.90 %

14.64 %

14.58 %

15.32 %

14.58 %

Total capital in excess of minimum requirement

$ 683,203

$ 632,563

$ 617,347

$ 581,659

$ 563,273

$ 683,203

$ 563,273

Total risk-weighted assets

$ 14,164,934

$ 14,129,683

$ 14,027,274

$ 14,059,215

$ 13,800,728

$ 14,164,934

$ 13,800,728

Leverage ratio

10.50 %

10.28 %

10.01 %

9.98 %

9.93 %

10.50 %

9.93 %

OTHER CAPITAL RATIOS

Ending shareholders' equity to ending assets

14.18 %

13.73 %

13.55 %

13.13 %

13.50 %

14.18 %

13.50 %

Ending tangible shareholders' equity to ending tangible assets (1)

8.87 %

8.40 %

8.16 %

7.73 %

7.98 %

8.87 %

7.98 %

Average shareholders' equity to average assets

13.87 %

13.66 %

13.38 %

13.36 %

13.28 %

13.64 %

13.08 %

Average tangible shareholders' equity to average tangible assets (1)

8.54 %

8.26 %

7.94 %

7.87 %

7.64 %

8.25 %

7.35 %

REPURCHASE PROGRAM (2)

Shares repurchased

Average share repurchase price

N/A

Total cost of shares repurchased

N/A

(2) Represents share repurchases as part of publicly announced plans.

N/A = Not applicable

SOURCE First Financial Bancorp.