First Financial Bancorp Announces Record Third Quarter Financial Results and Quarterly Dividend

CINCINNATI, Oct. 27, 2026 /PRNewswire/ -- First Financial Bancorp. (Nasdaq: FFBC) ("First Financial" or the "Company") announced financial results for the three and nine months ended September 30, 2026.

For the three months ended September 30, 2026, the Company reported net income of $81.2 million, or $0.77 per diluted common share. These results compare to net income of $76.5 million, or $0.73 per diluted common share, for the second quarter of 2026. For the nine months ended September 30, 2026, First Financial had earnings per diluted share of $2.21 compared to $2.02 for the same period in 2025.

Return on average assets for the third quarter of 2026 was 1.44% while return on average tangible common equity was 18.67% (1). These compare to return on average assets of 1.37% and return on average tangible common equity of 17.95% (1) in the second quarter of 2026.

Third quarter 2026 highlights include:

Additionally, the Board of Directors approved a quarterly dividend of $0.26 per common share for the next regularly scheduled dividend, payable on December 15, 2026 to shareholders of record as of December 1, 2026.

Archie Brown, President and CEO, commented on third quarter results, "I am very pleased with our performance in the third quarter. Adjusted (1) net income was $87.8 million and adjusted (1) earnings per share were $0.84, which resulted in an adjusted (1) return on assets of 1.56% and an adjusted (1) return on tangible common equity of 20.2%. Earnings per share increased 11% from the third quarter of 2025 and were the highest in the Company's history. We delivered record third quarter revenue of $273.9 million, driven by a strong net interest margin of 4.07% and record adjusted (1) fee revenue of $77.6 million."

Mr. Brown continued, "Loan balances increased moderately during the quarter, consistent with our prior quarter outlook, with particularly strong growth in our C&I portfolio. Loan pipelines remain healthy as we enter the fourth quarter, and we expect low to mid single digit loan growth as we close out 2026."

Mr. Brown continued, discussing fees and expenses, "We are very encouraged by the strength and diversification of our fee income, as adjusted (1) noninterest income was a record $77.6 million and 28% of total revenues. Growth from the linked quarter was driven by strong performances from foreign exchange, wealth management, client derivatives and bankcard income.

"As a result of our strong fee income and overall operating performance, expenses were elevated during the quarter, driven primarily by incentive costs associated with our record revenues, as well as higher health care claims and increased credit and collection costs. We expect expenses to moderate in the fourth quarter."

Mr. Brown commented on asset quality and capital, "Credit quality trends were stable during the third quarter. Net charge-offs and nonperforming assets were comparable to second quarter levels, while classified assets increased significantly. The increase in classified assets was primarily driven by the downgrade of a single ICRE relationship with multiple loans, and we expect to resolve the workout of this relationship over the next few quarters.

"All regulatory capital ratios increased from the second quarter; however, tangible book value per share and tangible common equity declined in response to the sharp increase in interest rates during the second half of the quarter. Tangible book value per share decreased 6% from the linked quarter to $15.65, while tangible common equity declined 43 basis points from June 30, to 7.81% at the end of September."

Mr. Brown concluded, "We delivered another strong quarter and have had an excellent year to date. We are pleased to have received Federal regulatory approval for our acquisition of Finward and expect to close the transaction on January 1, 2027, subject to the receipt of state regulatory and Finward shareholder approvals. Looking ahead, we remain focused on closing the year on a strong note, completing the Finward transaction, and carrying our momentum into 2027.

"Finally, I want to acknowledge the recently announced changes to our senior leadership structure. These changes were designed to promote continuity, reinforce our commitment to strong financial performance, and maintain our engagement-centric culture. I have tremendous confidence in Jamie and the rest of our leadership team, and the positive impact we are already seeing from these organizational changes underscores the strength of our people, our culture, and our continued commitment to serving our clients and communities."

Full detail of the Company's third quarter 2026 performance is provided in the accompanying financial statements and slide presentation.

(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.

Teleconference / Webcast Information

First Financial's executive management will host a conference call to discuss the Company's financial and operating results on Wednesday, October 28, 2026 at 8:30 a.m. Eastern Time. Members of the public who would like to listen to the conference call should dial (833) 461-5787 (U.S. toll free), meeting ID 257491860. 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. 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.

No Offer or Solicitation

This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval with respect to the proposed transaction between First Financial and Finward. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Important Additional Information and Where to Find It

In connection with the proposed transaction, First Financial filed a Registration Statement on Form S-4 (the "Registration Statement") with the SEC to register the shares of First Financial capital stock to be issued in connection with the proposed transaction, which became effective with the SEC on September 28, 2026. The Registration Statement includes a proxy statement of Finward and a prospectus of First Financial (the "Proxy Statement/Prospectus"), and First Financial and Finward may file with the SEC other relevant documents concerning the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT FIRST FINANCIAL, FINWARD AND THE PROPOSED TRANSACTION AND RELATED MATTERS.

A copy of the Registration Statement, Proxy Statement/Prospectus, as well as other filings containing information about First Financial and Finward, may be obtained, free of charge, at the SEC's website ( www.sec.gov). Copies of documents filed with the SEC by First Financial will be made available free of charge in the "Investor Relations" section of First Financial's website, https://www.bankatfirst.com/about/investor-relations.html. Copies of documents filed with the SEC by Finward will be made available free of charge in the "Investor Relations" section of Finward's website, https://www.investorrelations.ibankpeoples.com. The information on First Financial's and Finward's websites is not, and shall not be deemed to be, a part of this communication or incorporated into other filings either First Financial makes with the SEC.

Participants in the Solicitation

First Financial, Finward and certain of their respective directors, executive officers, management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction between First Financial and Finward. Information concerning First Financial's participants is set forth in the Proxy Statement, dated April 16, 2026, for First Financial's 2026 annual meeting of stockholders as filed with the SEC on Schedule 14A. Information concerning Finward's participants is set forth in the Proxy Statement, dated April 3, 2026, for Finward's 2026 annual meeting of stockholders as filed with the SEC on Schedule 14A. Additional information regarding the participants in the solicitation of proxies in respect of the proposed transaction and interests of participants of First Financial and Finward in the solicitation of proxies in respect of the proposed transaction is included in the Registration Statement and Proxy Statement/Prospectus to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are not limited to, statements regarding the operations of First Financial Bancorp. and its subsidiaries (the "Company", "First Financial", "we", "us", or "our") such as (i) our future operating or financial performance, including revenues, income or loss and earnings per share, (ii) future common stock dividends, (iii) our capital structure, including future capital levels, (iv) our plans, objectives and strategies, and (v) the uncertainties and assumptions that underlie our forward-looking statements. Such statements are often characterized by the use of qualified words (and their derivatives) such as "may," "will," "anticipate," "could," "should," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "project" and "intend," as well as words of similar meaning or other statements concerning opinions or judgment of First Financial or their respective management about future events. Forward-looking statements are based on assumptions as of the time they are made and are subject to risks, uncertainties and other factors that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results expressed or implied by such forward-looking statements. Such risks, uncertainties and assumptions include, among others, the following:

These factors are not necessarily all of the factors that could cause First Financial's actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm the results of First Financial. Although First Financial believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results of First Financial will not differ materially from any projected future results expressed or implied by such forward-looking statements. Additional factors that could cause results to differ materially from those described above can be found in First Financial's most recent annual report on Form 10-K for the fiscal year ended December 31, 2025, quarterly reports on Form 10-Q, and other documents subsequently filed by First Financial with the Securities Exchange Commission ("SEC"). Investors are cautioned not to rely too heavily on any such forward-looking statements. First Financial urges you to consider all of these risks, uncertainties and other factors carefully in evaluating all such forward-looking statements made by First Financial. Forward-looking statements speak only as of the date they are made, and First Financial undertakes no obligation to update or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

About First Financial Bancorp.

First Financial Bancorp. is a Cincinnati, Ohio based bank holding company. As of September 30, 2026, the Company had $22.3 billion in assets, $13.9 billion in loans, $17.7 billion in deposits and $2.9 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 $4.5 billion in assets under management as of September 30, 2026. The Company operated 151 full service banking centers as of September 30, 2026, 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,

September 30,

2026

2025

2026

2025

RESULTS OF OPERATIONS

Net income

$ 81,182

$ 76,456

$ 74,445

$ 62,393

$ 71,923

$232,083

$193,212

Net earnings per share - basic

$ 0.78

$ 0.74

$ 0.72

$ 0.65

$ 0.76

$ 2.23

$ 2.04

Net earnings per share - diluted

$ 0.77

$ 0.73

$ 0.71

$ 0.64

$ 0.75

$ 2.21

$ 2.02

Dividends declared per share

$ 0.26

$ 0.25

$ 0.76

$ 0.73

KEY FINANCIAL RATIOS

Return on average assets

1.44 %

1.37 %

1.34 %

1.22 %

1.54 %

1.39 %

1.40 %

Return on average shareholders' equity

10.87 %

10.39 %

10.24 %

9.18 %

11.08 %

10.50 %

10.26 %

Return on average tangible shareholders' equity (1)

18.67 %

17.95 %

17.78 %

16.27 %

19.11 %

18.14 %

18.03 %

Net interest margin

4.05 %

3.96 %

3.97 %

3.96 %

3.99 %

3.95 %

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

4.07 %

3.98 %

3.99 %

3.98 %

4.02 %

4.01 %

3.98 %

Ending shareholders' equity as a percent of ending assets

12.91 %

13.31 %

12.91 %

13.11 %

14.18 %

12.91 %

14.18 %

Ending tangible shareholders' equity as a percent of:

Ending tangible assets (1)

7.81 %

8.24 %

7.87 %

7.79 %

8.87 %

7.81 %

8.87 %

Risk-weighted assets (1)

9.86 %

10.62 %

10.51 %

9.76 %

10.94 %

9.86 %

10.94 %

Average shareholders' equity as a percent of average assets

13.28 %

13.18 %

13.12 %

13.31 %

13.87 %

13.19 %

13.64 %

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

8.18 %

8.08 %

8.01 %

7.97 %

8.54 %

8.09 %

8.25 %

Book value per share

$ 27.39

$ 28.46

$ 28.02

$ 28.11

$ 27.48

$ 27.39

$ 27.48

Tangible book value per share (1)

$ 15.65

$ 16.64

$ 16.15

$ 15.74

$ 16.19

$ 15.65

$ 16.19

Common equity tier 1 ratio (3)

12.54 %

12.33 %

12.22 %

11.32 %

12.91 %

12.54 %

12.91 %

Tier 1 ratio (3)

12.81 %

12.61 %

12.50 %

11.60 %

13.23 %

12.81 %

13.23 %

Total capital ratio (3)

15.83 %

15.75 %

15.70 %

15.46 %

15.32 %

15.83 %

15.32 %

Leverage ratio (3)

9.96 %

9.66 %

9.39 %

9.53 %

10.50 %

9.96 %

10.50 %

AVERAGE BALANCE SHEET ITEMS

Loans (4)

$13,821,897

$13,619,039

$14,028,324

$12,812,267

$11,806,065

$13,822,331

$11,774,842

Investment securities

4,925,893

5,079,730

4,769,261

3,988,846

3,552,014

4,925,535

3,481,357

Interest-bearing deposits with other banks

499,575

605,647

596,094

647,347

610,074

566,752

589,546

Total earning assets

$19,247,365

$19,304,416

$19,393,679

$17,448,460

$15,968,153

$19,314,618

$15,845,745

Total assets

$22,321,112

$22,391,439

$22,459,721

$20,256,539

$18,566,188

$22,390,250

$18,452,133

Noninterest-bearing deposits

$ 3,797,339

$ 3,811,391

$ 3,745,002

$ 3,436,709

$ 3,124,277

$ 3,784,769

$ 3,119,587

Interest-bearing deposits

13,941,854

13,875,384

13,900,550

12,521,948

11,387,648

13,906,081

11,250,530

Total deposits

$17,739,193

$17,686,775

$17,645,552

$15,958,657

$14,511,925

$17,690,850

$14,370,117

Borrowings

$ 778,982

$ 891,636

$ 1,012,161

$ 848,650

$ 823,346

$ 893,406

$ 911,100

Shareholders' equity

$ 2,963,270

$ 2,951,237

$ 2,947,585

$ 2,695,581

$ 2,575,203

$ 2,954,088

$ 2,516,675

CREDIT QUALITY RATIOS

Allowance to ending loans

1.38 %

1.36 %

1.39 %

1.38 %

Allowance to nonaccrual loans

191.25 %

197.51 %

182.73 %

183.18 %

213.18 %

191.25 %

213.18 %

Nonaccrual loans to total loans

0.72 %

0.70 %

0.75 %

0.76 %

0.65 %

0.72 %

0.65 %

Nonperforming assets to ending loans, plus OREO

0.72 %

0.70 %

0.75 %

0.76 %

0.65 %

0.72 %

0.65 %

Nonperforming assets to total assets

0.45 %

0.43 %

0.44 %

0.48 %

0.41 %

0.45 %

0.41 %

Classified assets to total assets

1.26 %

1.01 %

1.02 %

1.11 %

1.18 %

1.26 %

1.18 %

Net charge-offs to average loans (annualized)

0.21 %

0.20 %

0.35 %

0.27 %

0.18 %

0.25 %

(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, 2026 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,

September 30,

2026

2025

% Change

2026

2025

% Change

Interest income

Loans and leases, including fees

$ 228,730

$ 204,865

11.6 %

$ 672,845

$ 603,488

11.5 %

Investment securities

Taxable

53,631

36,421

47.3 %

157,026

107,065

46.7 %

Tax-exempt

2,425

2,195

10.5 %

7,423

6,632

11.9 %

Total investment securities interest

56,056

38,616

45.2 %

164,449

113,697

44.6 %

Other earning assets

4,514

6,773

(33.4) %

15,345

19,388

(20.9) %

Total interest income

289,300

250,254

15.6 %

852,639

736,573

15.8 %

Interest expense

Deposits

82,263

77,766

5.8 %

241,248

231,891

4.0 %

Short-term borrowings

4,070

5,979

(31.9) %

14,235

19,917

(28.5) %

Long-term borrowings

6,711

6,023

11.4 %

20,913

16,714

25.1 %

Total interest expense

93,044

89,768

3.6 %

276,396

268,522

2.9 %

Net interest income

196,256

160,486

22.3 %

576,243

468,051

23.1 %

Provision for credit losses-loans and leases

8,975

8,612

4.2 %

27,938

26,837

4.1 %

Provision for credit losses-unfunded commitments

(72)

453

(115.9) %

(2,305)

730

(415.8) %

Net interest income after provision for credit losses

187,353

151,421

23.7 %

550,610

440,484

25.0 %

Noninterest income

Service charges on deposit accounts

9,031

7,829

15.4 %

26,940

23,058

16.8 %

Wealth management fees

9,135

7,351

24.3 %

27,869

23,275

19.7 %

Bankcard income

3,862

3,589

7.6 %

10,474

10,636

(1.5) %

Client derivative fees

2,511

1,876

33.8 %

7,964

5,121

55.5 %

Foreign exchange income

17,485

16,666

4.9 %

46,899

42,970

9.1 %

Leasing business income

22,967

20,997

9.4 %

67,325

60,497

11.3 %

Net gains from sales of loans

5,650

6,835

(17.3) %

18,355

17,844

2.9 %

Net gain (loss) on investment securities

247

(42)

688.1 %

(1,350)

(9,748)

86.2 %

Gain on bargain purchase

100.0 %

12,118

100.0 %

Other

6,733

8,424

(20.1) %

16,761

19,018

(11.9) %

Total noninterest income

77,658

73,525

5.6 %

233,355

192,671

21.1 %

Noninterest expenses

Salaries and employee benefits

94,385

80,607

17.1 %

281,158

230,762

21.8 %

Net occupancy

7,591

6,003

26.5 %

22,679

17,867

26.9 %

Furniture and equipment

4,834

3,582

35.0 %

13,837

10,836

27.7 %

Data processing

12,685

9,591

32.3 %

38,893

27,370

42.1 %

Marketing

3,801

2,359

61.1 %

10,069

7,114

41.5 %

Professional services

3,566

2,314

54.1 %

14,939

8,602

73.7 %

Amortization of tax credit investments

774

112

591.1 %

2,112

335

530.4 %

FDIC assessments

3,170

2,611

21.4 %

9,693

8,281

17.1 %

Intangible amortization

6,230

2,359

164.1 %

18,720

7,076

164.6 %

Leasing business expense

14,315

13,911

2.9 %

43,077

39,868

8.0 %

Other

14,385

10,820

32.9 %

41,509

32,905

26.1 %

Total noninterest expenses

165,736

134,269

23.4 %

496,686

391,016

27.0 %

Income before income taxes

99,275

90,677

9.5 %

287,279

242,139

18.6 %

Income tax expense

18,093

18,754

(3.5) %

55,196

48,927

12.8 %

Net income

$ 81,182

$ 71,923

12.9 %

$ 232,083

$ 193,212

20.1 %

ADDITIONAL DATA

Net earnings per share - basic

$ 0.78

$ 0.76

$ 2.23

$ 2.04

Net earnings per share - diluted

$ 0.77

$ 0.75

$ 2.21

$ 2.02

Dividends declared per share

$ 0.26

$ 0.25

$ 0.76

$ 0.73

Return on average assets

1.44 %

1.54 %

1.39 %

1.40 %

Return on average shareholders' equity

10.87 %

11.08 %

10.50 %

10.26 %

Interest income

$ 289,300

$ 250,254

15.6 %

$ 852,639

$ 736,573

15.8 %

Tax equivalent adjustment

1,114

1,248

(10.7) %

3,461

3,707

(6.6) %

Interest income - tax equivalent

290,414

251,502

15.5 %

856,100

740,280

15.6 %

Interest expense

93,044

89,768

3.6 %

276,396

268,522

2.9 %

Net interest income - tax equivalent

$ 197,370

$ 161,734

22.0 %

$ 579,704

$ 471,758

22.9 %

Net interest margin

4.05 %

3.99 %

3.95 %

Net interest margin (fully tax equivalent) (1)

4.07 %

4.02 %

4.01 %

3.98 %

Full-time equivalent employees

2,251

1,986

(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)

2026

Third

Second

First

Year to

% Change

Quarter

Date

Linked Qtr.

Interest income

Loans and leases, including fees

$ 228,730

$ 219,164

$ 224,951

$ 672,845

4.4 %

Investment securities

Taxable

53,631

53,904

49,491

157,026

(0.5) %

Tax-exempt

2,425

2,472

2,526

7,423

(1.9) %

Total investment securities interest

56,056

56,376

52,017

164,449

(0.6) %

Other earning assets

4,514

5,381

5,450

15,345

(16.1) %

Total interest income

289,300

280,921

282,418

852,639

3.0 %

Interest expense

Deposits

82,263

79,250

79,735

241,248

3.8 %

Short-term borrowings

4,070

4,997

5,168

14,235

(18.6) %

Long-term borrowings

6,711

6,297

7,905

20,913

6.6 %

Total interest expense

93,044

90,544

92,808

276,396

2.8 %

Net interest income

196,256

190,377

189,610

576,243

3.1 %

Provision for credit losses-loans and leases

8,975

12,933

6,030

27,938

(30.6) %

Provision for credit losses-unfunded commitments

(72)

(4,743)

2,510

(2,305)

(98.5) %

Net interest income after provision for credit losses

187,353

182,187

181,070

550,610

2.8 %

Noninterest income

Service charges on deposit accounts

9,031

8,896

9,013

26,940

1.5 %

Wealth management fees

9,135

8,252

10,482

27,869

10.7 %

Bankcard income

3,862

3,032

3,580

10,474

27.4 %

Client derivative fees

2,511

1,443

4,010

7,964

74.0 %

Foreign exchange income

17,485

13,101

16,313

46,899

33.5 %

Leasing business income

22,967

22,750

21,608

67,325

1.0 %

Net gains from sales of loans

5,650

6,658

6,047

18,355

(15.1) %

Net gain (loss) on investment securities

247

(337)

(1,260)

(1,350)

173.3 %

Gain on bargain purchase

3,189

8,892

12,118

(98.8) %

Other

6,733

6,807

3,221

16,761

(1.1) %

Total noninterest income

77,658

73,791

81,906

233,355

5.2 %

Noninterest expenses

Salaries and employee benefits

94,385

86,917

99,856

281,158

8.6 %

Net occupancy

7,591

7,535

7,553

22,679

0.7 %

Furniture and equipment

4,834

4,310

4,693

13,837

12.2 %

Data processing

12,685

13,554

12,654

38,893

(6.4) %

Marketing

3,801

3,616

2,652

10,069

5.1 %

Professional services

3,566

7,387

3,986

14,939

(51.7) %

Amortization of tax credit investments

774

669

2,112

15.7 %

FDIC assessments

3,170

2,878

3,645

9,693

10.1 %

Intangible amortization

6,230

6,229

6,261

18,720

0.0 %

Leasing business expense

14,315

14,633

14,129

43,077

(2.2) %

Other

14,385

13,814

13,310

41,509

4.1 %

Total noninterest expenses

165,736

161,542

169,408

496,686

2.6 %

Income before income taxes

99,275

94,436

93,568

287,279

5.1 %

Income tax expense

18,093

17,980

19,123

55,196

0.6 %

Net income

$ 81,182

$ 76,456

$ 74,445

$ 232,083

6.2 %

ADDITIONAL DATA

Net earnings per share - basic

$ 0.78

$ 0.74

$ 0.72

$ 2.23

Net earnings per share - diluted

$ 0.77

$ 0.73

$ 0.71

$ 2.21

Dividends declared per share

$ 0.26

$ 0.25

$ 0.76

Return on average assets

1.44 %

1.37 %

1.34 %

1.39 %

Return on average shareholders' equity

10.87 %

10.39 %

10.24 %

10.50 %

Interest income

$ 289,300

$ 280,921

$ 282,418

$ 852,639

3.0 %

Tax equivalent adjustment

1,114

1,161

1,186

3,461

(4.0) %

Interest income - tax equivalent

290,414

282,082

283,604

856,100

3.0 %

Interest expense

93,044

90,544

92,808

276,396

2.8 %

Net interest income - tax equivalent

$ 197,370

$ 191,538

$ 190,796

$ 579,704

3.0 %

Net interest margin

4.05 %

3.96 %

3.97 %

3.99 %

Net interest margin (fully tax equivalent) (1)

4.07 %

3.98 %

3.99 %

4.01 %

Full-time equivalent employees

2,251

2,371

2,319

FIRST FINANCIAL BANCORP.

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME

(Dollars in thousands, except per share data)

(Unaudited)

2025

Fourth

Third

Second

First

Full

Quarter

Year

Interest income

Loans and leases, including fees

$ 215,663

$ 204,865

$ 201,460

$ 197,163

$ 819,151

Investment securities

Taxable

40,971

36,421

36,243

34,401

148,036

Tax-exempt

2,363

2,195

2,233

2,204

8,995

Total investment securities interest

43,334

38,616

38,476

36,605

157,031

Other earning assets

6,334

6,773

5,964

6,651

25,722

Total interest income

265,331

250,254

245,900

240,419

1,001,904

Interest expense

Deposits

78,861

77,766

75,484

78,641

310,752

Short-term borrowings

4,925

5,979

6,393

7,545

24,842

Long-term borrowings

7,550

6,023

5,754

4,937

24,264

Total interest expense

91,336

89,768

87,631

91,123

359,858

Net interest income

173,995

160,486

158,269

149,296

642,046

Provision for credit losses-loans and leases

9,688

8,612

9,084

9,141

36,525

Provision for credit losses-unfunded commitments

412

453

718

(441)

1,142

Net interest income after provision for credit losses

163,895

151,421

148,467

140,596

604,379

Noninterest income

Service charges on deposit accounts

8,308

7,829

7,766

7,463

31,366

Wealth management fees

9,288

7,351

7,787

8,137

32,563

Bankcard income

3,590

3,589

3,737

3,310

14,226

Client derivative fees

2,681

1,876

1,674

1,571

7,802

Foreign exchange income

22,696

16,666

13,760

12,544

65,666

Leasing business income

19,523

20,997

20,797

18,703

80,020

Net gains from sales of loans

7,041

6,835

6,687

4,322

24,885

Net gain (loss) on investment securities

(12,576)

(42)

243

(9,949)

(22,324)

Other

4,216

8,424

5,612

4,982

23,234

Total noninterest income

64,767

73,525

68,063

51,083

257,438

Noninterest expenses

Salaries and employee benefits

85,123

80,607

74,917

75,238

315,885

Net occupancy

6,315

6,003

5,845

6,019

24,182

Furniture and equipment

3,940

3,582

3,441

3,813

14,776

Data processing

10,465

9,591

9,020

8,759

37,835

Marketing

3,056

2,359

2,737

2,018

10,170

Professional services

6,231

2,314

3,549

2,739

14,833

Amortization of tax credit investments

800

112

111

112

1,135

FDIC assessments

2,923

2,611

3,059

11,204

Intangible amortization

3,927

2,359

2,358

2,359

11,003

Leasing business expense

13,837

13,911

13,155

12,802

53,705

Other

12,914

10,820

10,927

11,158

45,819

Total noninterest expenses

149,531

134,269

128,671

128,076

540,547

Income before income taxes

79,131

90,677

87,859

63,603

321,270

Income tax expense

16,738

18,754

17,863

12,310

65,665

Net income

$ 62,393

$ 71,923

$ 69,996

$ 51,293

$ 255,605

ADDITIONAL DATA

Net earnings per share - basic

$ 0.65

$ 0.76

$ 0.74

$ 0.54

$ 2.68

Net earnings per share - diluted

$ 0.64

$ 0.75

$ 0.73

$ 0.54

$ 2.66

Dividends declared per share

$ 0.25

$ 0.24

$ 0.98

Return on average assets

1.22 %

1.54 %

1.52 %

1.13 %

1.35 %

Return on average shareholders' equity

9.18 %

11.08 %

11.16 %

8.46 %

9.98 %

Interest income

$ 265,331

$ 250,254

$ 245,900

$ 240,419

$1,001,904

Tax equivalent adjustment

1,227

1,248

1,246

1,213

4,934

Interest income - tax equivalent

266,558

251,502

247,146

241,632

1,006,838

Interest expense

91,336

89,768

87,631

91,123

359,858

Net interest income - tax equivalent

$ 175,222

$ 161,734

$ 159,515

$ 150,509

$ 646,980

Net interest margin

3.96 %

3.99 %

4.01 %

3.84 %

3.95 %

Net interest margin (fully tax equivalent) (1)

3.98 %

4.02 %

4.05 %

3.88 %

3.98 %

Full-time equivalent employees

2,164

1,986

2,033

2,021

FIRST FINANCIAL BANCORP.

CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)

(Unaudited)

Sep. 30,

June 30,

Mar. 31,

Dec. 31,

Sep. 30,

% Change

2026

2025

Linked Qtr.

Comp Qtr.

ASSETS

Cash and due from banks

$ 176,102

$ 206,361

$ 170,641

$ 178,553

$ 174,659

(14.7) %

0.8 %

Interest-bearing deposits with other banks

566,778

579,194

1,032,259

597,338

565,080

(2.1) %

0.3 %

Investment securities available-for-sale

4,635,304

4,733,713

4,953,023

3,971,932

3,422,595

(2.1) %

35.4 %

Investment securities held-to-maturity

38,321

46,067

49,631

58,545

71,595

(16.8) %

(46.5) %

Other investments

139,535

137,755

137,018

129,564

117,120

1.3 %

19.1 %

Loans held for sale

22,958

33,125

18,280

16,953

21,466

(30.7) %

7.0 %

Loans and leases

Commercial and industrial

4,948,380

4,842,347

4,693,786

4,632,241

3,838,630

2.2 %

28.9 %

Lease financing

678,423

659,328

649,645

638,527

596,734

2.9 %

13.7 %

Construction real estate

606,696

599,258

591,080

677,339

627,960

1.2 %

(3.4) %

Commercial real estate

4,542,568

4,548,887

4,473,468

4,384,556

4,048,370

(0.1) %

12.2 %

Residential real estate

1,806,123

1,805,044

1,831,338

1,832,184

1,494,464

0.1 %

20.9 %

Home equity

1,105,790

1,058,175

1,026,839

1,005,204

935,975

4.5 %

18.1 %

Installment

150,485

156,470

162,314

188,694

109,764

(3.8) %

37.1 %

Credit card

66,617

65,405

66,371

65,325

62,654

1.9 %

6.3 %

Total loans

13,905,082

13,734,914

13,494,841

13,424,070

11,714,551

1.2 %

18.7 %

Less:

Allowance for credit losses

(191,650)

(189,912)

(183,716)

(186,487)

(161,916)

0.9 %

18.4 %

Net loans

13,713,432

13,545,002

13,311,125

13,237,583

11,552,635

1.2 %

18.7 %

Premises and equipment

229,669

229,763

228,384

204,760

198,251

0.0 %

15.8 %

Operating leases

237,160

241,742

220,061

214,003

214,667

(1.9) %

10.5 %

Goodwill

1,099,936

1,099,543

1,099,524

1,007,656

0.0 %

9.2 %

Other intangibles

135,077

140,705

145,927

118,832

73,797

(4.0) %

83.0 %

Accrued interest and other assets

1,319,883

1,446,316

1,413,923

1,301,792

1,134,985

(8.7) %

16.3 %

Total Assets

$ 22,314,155

$ 22,439,679

$ 22,779,815

$ 21,129,379

$ 18,554,506

(0.6) %

20.3 %

LIABILITIES

Deposits

Interest-bearing demand

$ 3,820,903

$ 3,804,301

$ 3,658,155

$ 3,360,613

$ 2,983,132

0.4 %

28.1 %

Savings

6,408,902

6,423,986

6,460,546

5,973,532

5,029,097

(0.2) %

27.4 %

Time

3,636,887

3,650,043

3,817,268

3,622,227

3,293,707

(0.4) %

10.4 %

Total interest-bearing deposits

13,866,692

13,878,330

13,935,969

12,956,372

11,305,936

(0.1) %

22.6 %

Noninterest-bearing

3,831,099

3,704,899

3,982,753

3,465,470

3,127,512

3.4 %

22.5 %

Total deposits

17,697,791

17,583,229

17,918,722

16,421,842

14,433,448

0.7 %

22.6 %

FHLB short-term borrowings

575,000

570,000

550,000

675,000

550,000

0.9 %

4.5 %

Other

76,860

39,532

70,457

332

45,167

94.4 %

70.2 %

Total short-term borrowings

651,860

609,532

620,457

675,332

595,167

6.9 %

9.5 %

Long-term debt

364,925

382,550

380,176

514,052

221,823

(4.6) %

64.5 %

Total borrowed funds

1,016,785

992,082

1,000,633

1,189,384

816,990

2.5 %

24.5 %

Accrued interest and other liabilities

718,097

876,880

919,835

748,937

672,213

(18.1) %

6.8 %

Total Liabilities

19,432,673

19,452,191

19,839,190

18,360,163

15,922,651

(0.1) %

22.0 %

SHAREHOLDERS' EQUITY

Common stock

1,790,583

1,792,158

1,789,676

1,647,618

1,641,315

(0.1) %

9.1 %

Retained earnings

1,589,622

1,535,765

1,485,573

1,437,286

1,399,577

3.5 %

13.6 %

Accumulated other comprehensive income (loss)

(387,095)

(223,720)

(217,430)

(189,942)

(223,000)

73.0 %

73.6 %

Treasury stock, at cost

(111,628)

(116,715)

(117,194)

(125,746)

(186,037)

(4.4) %

(40.0) %

Total Shareholders' Equity

2,881,482

2,987,488

2,940,625

2,769,216

2,631,855

(3.5) %

9.5 %

Total Liabilities and Shareholders' Equity

$ 22,314,155

$ 22,439,679

$ 22,779,815

$ 21,129,379

$ 18,554,506

(0.6) %

20.3 %

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,

2026

2025

2026

2025

ASSETS

Cash and due from banks

$ 183,151

$ 182,261

$ 227,115

$ 178,403

$ 165,210

$ 197,348

$ 168,108

Interest-bearing deposits with other banks

499,575

605,647

596,094

647,347

610,074

566,752

589,546

Investment securities

4,925,893

5,079,730

4,769,261

3,988,846

3,552,014

4,925,535

3,481,357

Loans held for sale

33,515

32,458

451,139

32,425

26,366

170,841

20,594

Loans and leases

Commercial and industrial

4,863,566

4,723,431

4,771,066

4,310,399

3,890,886

4,786,360

3,853,411

Lease financing

662,208

646,520

630,204

617,518

592,510

646,428

586,267

Construction real estate

615,131

583,146

643,270

679,884

711,011

613,746

763,731

Commercial real estate

4,551,002

4,546,901

4,446,231

4,240,042

3,993,549

4,515,095

3,990,073

Residential real estate

1,791,576

1,812,228

1,834,467

1,717,439

1,489,942

1,812,600

1,483,760

Home equity

1,079,269

1,043,805

1,016,080

981,406

919,368

1,046,616

889,985

Installment

153,945

158,760

166,979

164,013

114,058

159,847

119,610

Credit card

71,685

71,790

68,888

69,141

68,375

70,798

67,411

Total loans

13,788,382

13,586,581

13,577,185

12,779,842

11,779,699

13,651,490

11,754,248

Less:

Allowance for credit losses

(192,456)

(186,331)

(200,745)

(179,275)

(162,417)

(193,147)

(159,613)

Net loans

13,595,926

13,400,250

13,376,440

12,600,567

11,617,282

13,458,343

11,594,635

Premises and equipment

230,932

230,343

230,154

202,956

199,167

230,479

198,858

Operating leases

237,488

234,460

215,318

211,091

217,404

229,170

211,801

Goodwill

1,099,934

1,099,742

1,099,543

1,069,781

1,007,656

1,099,741

1,007,656

Other intangibles

138,310

143,403

149,631

104,184

74,448

143,740

76,234

Accrued interest and other assets

1,376,388

1,383,145

1,345,026

1,220,939

1,096,567

1,368,301

1,103,344

Total Assets

$ 22,321,112

$ 22,391,439

$ 22,459,721

$ 20,256,539

$ 18,566,188

$ 22,390,250

$ 18,452,133

LIABILITIES

Deposits

Interest-bearing demand

$ 3,814,405

$ 3,762,177

$ 3,626,103

$ 3,276,425

$ 3,036,296

$ 3,734,918

$ 3,064,404

Savings

6,458,303

6,434,399

6,406,223

5,740,651

5,054,563

6,433,166

4,993,198

Time

3,669,146

3,678,808

3,868,224

3,504,872

3,296,789

3,737,997

3,192,928

Total interest-bearing deposits

13,941,854

13,875,384

13,900,550

12,521,948

11,387,648

13,906,081

11,250,530

Noninterest-bearing

3,797,339

3,811,391

3,745,002

3,436,709

3,124,277

3,784,769

3,119,587

Total deposits

17,739,193

17,686,775

17,645,552

15,958,657

14,511,925

17,690,850

14,370,117

Federal funds purchased and securities sold

under agreements to repurchase

46,803

3,351

16,278

2,283

12,434

22,256

6,461

FHLB short-term borrowings

357,140

508,931

538,084

444,511

497,092

467,389

527,445

Other

13,891

21,519

48,756

Total short-term borrowings

403,943

512,282

554,362

460,685

531,045

489,645

582,662

Long-term debt

375,039

379,354

457,799

387,965

292,301

403,761

328,438

Total borrowed funds

778,982

891,636

1,012,161

848,650

823,346

893,406

911,100

Accrued interest and other liabilities

839,667

861,791

854,423

753,651

655,714

851,906

654,241

Total Liabilities

19,357,842

19,440,202

19,512,136

17,560,958

15,990,985

19,436,162

15,935,458

SHAREHOLDERS' EQUITY

Common stock

1,792,381

1,790,690

1,795,255

1,644,923

1,639,986

1,792,765

1,639,591

Retained earnings

1,545,957

1,499,207

1,448,012

1,406,388

1,369,069

1,498,084

1,324,830

Accumulated other comprehensive loss

(259,303)

(221,515)

(173,065)

(209,767)

(247,746)

(218,277)

(260,129)

Treasury stock, at cost

(115,765)

(117,145)

(122,617)

(145,963)

(186,106)

(118,484)

(187,617)

Total Shareholders' Equity

2,963,270

2,951,237

2,947,585

2,695,581

2,575,203

2,954,088

2,516,675

Total Liabilities and Shareholders' Equity

$ 22,321,112

$ 22,391,439

$ 22,459,721

$ 20,256,539

$ 18,566,188

$ 22,390,250

$ 18,452,133

FIRST FINANCIAL BANCORP.

NET INTEREST MARGIN RATE/VOLUME ANALYSIS

(Dollars in thousands)

(Unaudited)

Quarterly Averages

Year-to-Date Averages

September 30, 2026

June 30, 2026

September 30, 2025

September 30, 2026

September 30, 2025

Balance

Interest

Yield

Balance

Interest

Yield

Balance

Interest

Yield

Balance

Yield

Balance

Yield

Earning assets

Investments:

Investment securities

$ 4,925,893

$ 56,056

4.51 %

$ 5,079,730

$ 56,376

4.45 %

$ 3,552,014

$ 38,616

4.31 %

$ 4,925,535

4.46 %

$ 3,481,357

4.37 %

Interest-bearing deposits with other banks

499,575

4,514

3.58 %

605,647

5,381

3.56 %

610,074

6,773

4.40 %

566,752

3.62 %

589,546

4.40 %

Gross loans (1)

13,821,897

228,730

6.57 %

13,619,039

219,164

6.45 %

11,806,065

204,865

6.88 %

13,822,331

6.51 %

11,774,842

6.85 %

Total earning assets

19,247,365

289,300

5.96 %

19,304,416

280,921

5.84 %

15,968,153

250,254

6.22 %

19,314,618

5.90 %

15,845,745

6.21 %

Nonearning assets

Allowance for credit losses

(192,456)

(186,331)

(162,417)

(193,147)

(159,613)

Cash and due from banks

183,151

182,261

165,210

197,348

168,108

Accrued interest and other assets

3,083,052

3,091,093

2,595,242

3,071,431

2,597,893

Total assets

$22,321,112

$22,391,439

$18,566,188

$22,390,250

$18,452,133

Interest-bearing liabilities

Deposits:

Interest-bearing demand

$ 3,814,405

$ 15,985

1.66 %

$ 3,762,177

$ 14,288

1.52 %

$ 3,036,296

$ 14,592

1.91 %

$ 3,734,918

1.56 %

$ 3,064,404

1.92 %

Savings

6,458,303

34,149

2.10 %

6,434,399

33,405

2.08 %

5,054,563

30,854

2.42 %

6,433,166

2.08 %

4,993,198

2.44 %

Time

3,669,146

32,129

3.47 %

3,678,808

31,557

3.44 %

3,296,789

32,320

3.89 %

3,737,997

3.49 %

3,192,928

4.05 %

Total interest-bearing deposits

13,941,854

82,263

2.34 %

13,875,384

79,250

2.29 %

11,387,648

77,766

2.71 %

13,906,081

2.32 %

11,250,530

2.76 %

Borrowed funds

Short-term borrowings

403,943

4,070

4.00 %

512,282

4,997

3.91 %

531,045

5,979

4.47 %

489,645

3.89 %

582,662

4.57 %

Long-term debt

375,039

6,711

7.10 %

379,354

6,297

6.66 %

292,301

6,023

8.17 %

403,761

6.93 %

328,438

6.80 %

Total borrowed funds

778,982

10,781

5.49 %

891,636

11,294

5.08 %

823,346

12,002

5.78 %

893,406

5.26 %

911,100

5.38 %

Total interest-bearing liabilities

14,720,836

93,044

2.51 %

14,767,020

90,544

2.46 %

12,210,994

89,768

2.92 %

14,799,487

2.50 %

12,161,630

2.95 %

Noninterest-bearing liabilities

Noninterest-bearing demand deposits

3,797,339

3,811,391

3,124,277

3,784,769

3,119,587

Other liabilities

839,667

861,791

655,714

851,906

654,241

Shareholders' equity

2,963,270

2,951,237

2,575,203

2,954,088

2,516,675

Total liabilities & shareholders' equity

$22,321,112

$22,391,439

$18,566,188

$22,390,250

$18,452,133

Net interest income

$ 196,256

$ 190,377

$ 160,486

$ 576,243

$ 468,051

Net interest spread

3.45 %

3.38 %

3.30 %

3.40 %

3.26 %

Net interest margin

4.05 %

3.96 %

3.99 %

3.95 %

Tax equivalent adjustment

0.02 %

0.03 %

0.02 %

0.03 %

Net interest margin (fully tax equivalent)

4.07 %

3.98 %

4.02 %

4.01 %

3.98 %

(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

$ 802

$ (1,122)

$ (320)

$ 1,805

$ 15,635

$ 17,440

$ 2,535

$ 48,217

$ 50,752

Interest-bearing deposits with other banks

(899)

(867)

(1,261)

(998)

(2,259)

(3,426)

(617)

(4,043)

Gross loans (2)

3,759

5,807

9,566

(9,494)

33,359

23,865

(30,311)

99,668

69,357

Total earning assets

4,593

3,786

8,379

(8,950)

47,996

39,046

(31,202)

147,268

116,066

Interest-bearing liabilities

Total interest-bearing deposits

$ 1,731

$ 1,282

$ 3,013

$ (10,574)

$ 15,071

$ 4,497

$ (36,713)

$ 46,070

$ 9,357

Borrowed funds

Short-term borrowings

108

(1,035)

(927)

(628)

(1,281)

(1,909)

(2,978)

(2,704)

(5,682)

Long-term debt

417

(3)

414

(793)

1,481

688

298

3,901

4,199

Total borrowed funds

525

(1,038)

(513)

(1,421)

200

(1,221)

(2,680)

1,197

(1,483)

Total interest-bearing liabilities

2,256

244

2,500

(11,995)

15,271

3,276

(39,393)

47,267

7,874

Net interest income (1)

$ 2,337

$ 3,542

$ 5,879

$ 3,045

$ 32,725

$ 35,770

$ 8,191

$ 100,001

$ 108,192

(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,

2026

2025

2026

2025

ALLOWANCE FOR CREDIT LOSS ACTIVITY

Balance at beginning of period

$ 189,912

$ 183,716

$ 186,487

$ 161,916

$ 158,522

$ 186,487

$ 156,791

Initial allowance on purchased loans

2,829

23,652

2,829

Provision for credit losses

8,975

12,933

6,030

9,688

8,612

27,938

26,837

Gross charge-offs

Commercial and industrial

984

2,437

10,788

6,636

2,165

14,209

15,339

Lease financing

976

1,314

918

298

2,333

2,358

Construction real estate

110

245

110

245

Commercial real estate

5,129

2,484

433

3,105

7,642

3,105

Residential real estate

127

151

222

Home equity

137

262

119

518

278

Installment

676

1,034

1,058

1,197

1,194

2,768

3,635

Credit card

520

704

496

729

577

1,720

1,540

Total gross charge-offs

8,543

8,319

12,660

10,159

7,676

29,522

26,516

Recoveries

Commercial and industrial

387

463

100

264

202

950

687

Lease financing

114

201

291

137

331

Construction real estate

Commercial real estate

1,138

1,232

Residential real estate

124

Home equity

157

116

117

333

312

Installment

688

660

598

682

609

1,946

1,888

Credit card

139

162

135

108

436

230

Total recoveries

1,306

1,582

1,030

1,390

2,458

3,918

4,804

Total net charge-offs

7,237

6,737

11,630

8,769

5,218

25,604

21,712

Ending allowance for credit losses

$ 191,650

$ 189,912

$ 183,716

$ 186,487

$ 161,916

$ 191,650

$ 161,916

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

Commercial and industrial

0.05 %

0.17 %

0.91 %

0.59 %

0.20 %

0.37 %

0.51 %

Lease financing

0.58 %

0.74 %

0.01 %

0.46 %

0.00 %

0.45 %

0.46 %

Construction real estate

0.07 %

0.00 %

0.14 %

0.02 %

0.04 %

Commercial real estate

0.45 %

0.22 %

0.00 %

0.04 %

0.20 %

0.22 %

0.06 %

Residential real estate

0.00 %

0.01 %

0.02 %

0.03 %

(0.02) %

0.01 %

(0.01) %

Home equity

0.03 %

0.04 %

0.00 %

(0.01) %

0.00 %

0.02 %

(0.01) %

Installment

(0.03) %

0.94 %

1.12 %

1.25 %

2.03 %

0.69 %

1.95 %

Credit card

2.11 %

3.03 %

2.13 %

3.56 %

2.97 %

2.42 %

2.60 %

Total net charge-offs

0.21 %

0.20 %

0.35 %

0.27 %

0.18 %

0.25 %

COMPONENTS OF NONACCRUAL LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS

Nonaccrual loans

Commercial and industrial

$ 21,127

$ 20,305

$ 22,576

$ 27,461

$ 23,832

$ 21,127

$ 23,832

Lease financing

1,459

7,558

5,857

5,660

5,885

1,459

5,885

Construction real estate

351

698

715

1,120

351

1,120

Commercial real estate

53,870

44,404

49,481

45,590

24,443

53,870

24,443

Residential real estate

18,358

18,260

17,439

18,302

16,452

18,358

16,452

Home equity

4,093

4,095

3,687

2,927

3,567

4,093

3,567

Installment

952

832

786

748

652

952

652

Total nonaccrual loans

100,210

96,152

100,541

101,808

75,951

100,210

75,951

Other real estate owned (OREO)

160

174

238

184

111

160

111

Total nonperforming assets

100,370

96,326

100,779

101,992

76,062

100,370

76,062

Accruing loans past due 90 days or more

937

650

1,366

411

592

937

592

Total underperforming assets

$ 101,307

$ 96,976

$ 102,145

$ 102,403

$ 76,654

$ 101,307

$ 76,654

Total classified assets

$ 281,407

$ 226,826

$ 232,368

$ 235,451

$ 218,794

$ 281,407

$ 218,794

CREDIT QUALITY RATIOS

Allowance for credit losses to

Nonaccrual loans

191.25 %

197.51 %

182.73 %

183.18 %

213.18 %

191.25 %

213.18 %

Total ending loans

1.38 %

1.36 %

1.39 %

1.38 %

Nonaccrual loans to total loans

0.72 %

0.70 %

0.75 %

0.76 %

0.65 %

0.72 %

0.65 %

Nonperforming assets to

Ending loans, plus OREO

0.72 %

0.70 %

0.75 %

0.76 %

0.65 %

0.72 %

0.65 %

Total assets

0.45 %

0.43 %

0.44 %

0.48 %

0.41 %

0.45 %

0.41 %

Classified assets to total assets

1.26 %

1.01 %

1.02 %

1.11 %

1.18 %

1.26 %

1.18 %

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,

2026

2025

2026

2025

PER COMMON SHARE

Market Price

High

$ 36.18

$ 33.90

$ 31.16

$ 26.98

$ 26.79

$ 36.18

$ 29.04

Low

$ 31.22

$ 28.06

$ 25.09

$ 23.26

$ 23.55

$ 25.09

$ 22.05

$ 31.32

$ 33.83

$ 27.88

$ 25.02

$ 25.25

$ 31.32

$ 25.25

Average shares outstanding - basic

103,962,646

103,938,322

103,705,269

96,724,148

94,889,341

103,869,688

94,799,411

Average shares outstanding - diluted

105,000,875

104,936,741

104,615,405

97,593,800

95,753,798

104,852,419

95,674,093

Ending shares outstanding

105,188,323

104,956,458

104,932,829

98,521,726

95,757,250

105,188,323

95,757,250

Total shareholders' equity

$ 2,881,482

$ 2,987,488

$ 2,940,625

$ 2,769,216

$ 2,631,855

$ 2,881,482

$ 2,631,855

REGULATORY CAPITAL

Preliminary

Common equity tier 1 capital

$ 2,093,397

$ 2,029,668

$ 1,970,561

$ 1,798,266

$ 1,828,843

$ 2,093,397

$ 1,828,843

Common equity tier 1 capital ratio

12.54 %

12.33 %

12.22 %

11.32 %

12.91 %

12.54 %

12.91 %

Tier 1 capital

$ 2,139,109

$ 2,075,286

$ 2,016,070

$ 1,843,672

$ 1,874,191

$ 2,139,109

$ 1,874,191

Tier 1 ratio

12.81 %

12.61 %

12.50 %

11.60 %

13.23 %

12.81 %

13.23 %

Total capital

$ 2,643,368

$ 2,591,169

$ 2,531,334

$ 2,457,377

$ 2,170,546

$ 2,643,368

$ 2,170,546

Total capital ratio

15.83 %

15.75 %

15.70 %

15.46 %

15.32 %

15.83 %

15.32 %

Total capital in excess of minimum requirement

$ 890,577

$ 863,256

$ 837,959

$ 788,889

$ 683,018

$ 890,577

$ 683,018

Total risk-weighted assets

$16,693,251

$16,456,311

$16,127,377

$15,890,363

$14,166,935

$16,693,251

$14,166,935

Leverage ratio

9.96 %

9.66 %

9.39 %

9.53 %

10.50 %

9.96 %

10.50 %

OTHER CAPITAL RATIOS

Ending shareholders' equity to ending assets

12.91 %

13.31 %

12.91 %

13.11 %

14.18 %

12.91 %

14.18 %

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

7.81 %

8.24 %

7.87 %

7.79 %

8.87 %

7.81 %

8.87 %

Average shareholders' equity to average assets

13.28 %

13.18 %

13.12 %

13.31 %

13.87 %

13.19 %

13.64 %

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

8.18 %

8.08 %

8.01 %

7.97 %

8.54 %

8.09 %

8.25 %

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.