Financial Highlights
Financial Highlights
2018 FQ3
9/30/2018
2017 FQ3
9/30/2017
Y-Y Ch (%)
2018 FQ2
6/30/2018
Q-Q Ch (%)†
Balance Sheet ($000)
Total Assets 13,842,667 8,761,689 57.99 13,920,167 (2.23)
Total Net Loans 8,802,938 5,938,969 48.22 8,846,326 (1.96)
Total Deposits 9,752,634 6,726,090 45 10,103,747 (13.90)
Equity Attributable to Parent Company 2,035,520 914,954 122.47 2,012,937 4.49
Total Equity 2,035,520 914,954 122.47 2,012,937 4.49
Profitability (%)
Net Income($000) 50,657 24,826 104.05 36,418 156.40
Net Income Attributable to Parent($000) 50,657 24,826 104.05 36,418 156.40
ROAA 1.47 1.14 33 bp 1.04 43 bp
Core ROAA 1.65 1.16 49 bp 1.54 11 bp
ROAE 10.02 10.94 (92) bp 7.28 274 bp
ROATCE 19.16 14.31 485 bp 10.68 848 bp
Core ROAE 11.29 11.18 11 bp 10.78 51 bp
Net Interest Margin 4.15 3.60 55 bp 4.14 1 bp
Reported: Net Interest Margin 4.12 3.57 55 bp 4.15 (3) bp
Efficiency Ratio 50.13 56.17 (604) bp 52.77 (264) bp
Noninterest Inc/ Operating Rev 19.12 24.33 (521) bp 18.76 36 bp
Balance Sheet Ratios (%)
Loans/ Deposits 90.72 88.86 186 bp 87.93 279 bp
Securities/ Assets 23 23.03 (3) bp 23.02 (2) bp
Total Equity/ Total Assets 14.70 10.44 426 bp 14.46 24 bp
Tangible Equity/ Tangible Assets 8.60 8.26 34 bp 8.37 23 bp
Tang Common Equity/ Tang Assets 8.60 8.26 34 bp 8.37 23 bp
Asset Quality (%)
NPAs/ Assets 0.47 NA NA 0.46 1 bp
NPA Excl Restructured/ Assets 0.32 NA NA 0.30 2 bp
NPAs & 90+ PD/ Assets 0.47 NA NA 0.46 1 bp
NPAs/ Loans & REO 0.73 NA NA 0.72 1 bp
Nonaccrual & 90+ & OREO/ Assets 0.32 NA NA 0.31 1 bp
NPAs & 90+ PD/ Loans & REO 0.73 NA NA 0.72 1 bp
NPA & Loans 90+/ Tangible Common Equity + LLR 5.54 NA NA 5.65 (11) bp
NCOs/ Avg Loans (0.02) 0.25 (27) bp 0.18 (20) bp
Loan Loss Reserves/ Gross Loans 0.65 0.91 (26) bp 0.61 4 bp
Reserves/ NPAs 89.34 NA NA 84.29 505 bp
Loan Loss Provision/ NCO NM 80.68 NM 92.47 NM
Capital Adequacy
Tier 1 Common Capital (CET1)($000) 1,177,630 746,730 57.70 1,142,718 12.22
Tier 1 Capital($000) 1,219,383 746,834 63.27 1,184,471 11.79
Tier 2 Capital($000) 187,869 173,808 8.09 184,760 6.73
Total Capital($000) 1,407,252 920,642 52.86 1,369,231 11.11
Total Risk-weighted Assets($000) 10,222,466 7,090,714 44.17 10,251,147 (1.12)
Tier 1 Common Capital (CET1) Ratio(%) 11.52 10.53 99 bp 11.15 37 bp
Tier 1 Ratio(%) 11.93 10.53 140 bp 11.55 38 bp
Total Capital Ratio(%) 13.77 12.98 79 bp 13.36 41 bp
Liquidity Coverage Ratio(%) NA NA NA NA NA
Leverage Ratio(%) 9.41 8.74 67 bp 9.06 35 bp
Basel III Leverage Ratio(%) NA NA NA NA NA
Per Share Information ($)
Common Shares Outstanding(actual) 97,914,526 62,061,465 57.77 97,904,897 0.04
Avg Diluted Shares(actual) 98,484,228 62,189,637 58.36 98,432,072 0.21
Basic Book Value per Share 20.79 14.74 41.04 20.56 4.47
Book Value per Share, As Reported 20.79 14.74 41.04 20.56 4.47
Basic Tangible Book Value per Share 11.35 11.39 (0.35) 11.10 9.01
Tangible Book Value per Share, As Reported 11.25 11.36 (0.97) 11.01 8.72
Common Dividends Declared per Share 0.20 0.17 17.65 0.19 21.05
EPS after Extra 0.51 0.40 27.50 0.37 151.35
EPS after Extra Growth(%) 27.50 8.10 1,939 bp 0 2,750 bp
Core EPS 0.57 0.41 39.02 0.55 14.55
Core EPS Growth(%) 40.40 11.10 2,930 bp 49.60 (914) bp
Diluted EPS before Amortization 0.53 0.41 29.27 0.39 143.59
Pre-Provision Earnings per Share 0.58 0.41 41.46 0.56 14.29

   Q-Q Ch(%)= most recent quarter minus prior quarter annualized e.g. [(Q4-Q3)/Q3]*4

  * Percentages presented for individual quarters are annualized by taking the quarter amount and multiplying by four.


Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.
As Reported Financial Statements
Peer Analysis
Performance Ratios (%) FFBC Peer Median Peer Average
ROAA 1.26 1.15 1.19
ROAE 9.70 9.41 9.41
Net Interest Margin 4.01 3.69 3.74
Efficiency Ratio 53.32 57.01 57.20
Loans / Deposits 90.72 92.63 92.45
Asset Quality Ratios (%)
NPAs / Assets 0.47 0.60 0.62
NCOs / Avg Loans 0.09 0.18 0.20
Reserves / Loans 0.65 0.92 0.97
Reserves / NPAs 89.34 112.81 127.37
Capital Ratios (%)
Tier 1 Capital 11.93 12.54 12.71
Tangible Equity / Tangible Assets 8.60 9.10 9.31
Total Equity / Total Assets 14.70 12.74 12.95
Market Ratios
Price / Earnings (x) 13.60 14.04 14.24
Price / Book (%) 115.83 124.19 126.14
Dividend Yield (%) 3.32 2.90 2.77
Data for trailing four quarters

First Financial Bancorp.'s peer group consists of the following: 1st Source Corporation (SRCE), Chemical Financial Corporation (CHFC), Columbia Banking System, Inc. (COLB), Community Bank System, Inc. (CBU), First Busey Corporation (BUSE), First Commonwealth Financial Corporation (FCF), First Merchants Corporation (FRME), First Midwest Bancorp, Inc. (FMBI), MB Financial, Inc. (MBFI), National Penn Bancshares, Inc. (NPBC), Old National Bancorp (ONB), Park National Corporation (PRK), Republic Bancorp, Inc. (RBCA.A), Texas Capital Bancshares, Inc. (TCBI), Trustmark Corporation (TRMK), WesBanco, Inc. (WSBC)

First Financial Bancorp.'s financial data is as of 9/30/2018.

Peer financial data is as of 9/30/2018 except for these companies:

National Penn Bancshares, Inc.'s financial data is as of 12/31/2015.
Mergers & Acquisitions

Target Seller State Industry Type Announce Date Status Deal Value($ M) Target Total Assets ($ 000)
MainSource Financial Group, Inc. IN Bank 7/25/2017 Completed On 4/1/2018 1,062.18 4,042,475
Guernsey Bancorp, Inc. OH Bank 4/29/2014 Completed On 8/21/2014 13.50 122,888
Insight Bank OH Bank 12/20/2013 Completed On 8/7/2014 36.62 200,233
First Bexley Bank OH Thrift 12/18/2013 Completed On 8/7/2014 44.50 295,404
Hebron Bancorp, Inc. KY Bank 12/31/1998 Completed On 6/1/1999 29.00 105,594
Sand Ridge Financial Corp. IN Bank 12/17/1998 Completed On 6/1/1999 121.50 503,894
Union State Bank OH Bank 9/29/1997 Completed On 4/1/1998 13.60 60,435
Southeastern Indiana Bancorp IN Bank 1/13/1997 Completed On 6/2/1997 7.80 50,535
Hastings Financial Corporation MI Bank 7/2/1996 Completed On 1/1/1997 10.50 46,847
Farmers State Bancorp IN Bank 5/30/1996 Completed On 12/1/1996 7.60 63,611
F & M Bancorp IN Bank 5/23/1995 Completed On 4/1/1996 12.70 62,964
Bright Financial Services, Inc. IN Bank 2/20/1995 Completed On 9/30/1995 15.30 110,103
Peoples Bank & Trust Company IN Bank 11/8/1994 Completed On 7/15/1995 12.20 52,513
First Clyde Banc Corp OH Bank 11/16/1993 Completed On 6/1/1994 11.20 66,180
Highland Federal Savings Bank OH Thrift 8/17/1993 Completed On 2/1/1994 9.50 52,692
Jennings Union Bankcorp IN Bank 6/3/1992 Completed On 1/4/1993 11.40 74,338
Home Federal Bank, A Federal Savings Bank OH Thrift 6/4/1990 Completed On 10/1/1991 3.80 NA
Trustcorp Banks - Dunkirk and Hartford IN Bank 6/1/1990 Completed On 10/1/1990 11.70 82,167
Fayette Federal Savings Bank IN Thrift 3/26/1990 Completed On 1/1/1991 5.50 NA
Fidelity Federal Savings Bank IN Thrift 12/1/1989 Completed On 9/21/1990 10.60 86,203
22 Branches
Flagstar Bancorp, Inc.
IN Thrift 8/16/2011 Completed On 12/2/2011 NA 506,839
16 Branches
Liberty Capital, Inc.
OH Thrift 6/3/2011 Completed On 9/23/2011 NA 320,557
3 Branches
Irwin Financial Corporation
IN Bank 7/1/2009 Completed On 8/28/2009 NA 143,000
17 Branches
Peoples Community Bancorp, Inc.
NA Thrift 5/18/2009 Terminated NA 297,600
2 Branches
Blue River Bancshares, Inc.
IN Thrift 10/18/2001 Completed On 12/31/2001 NA NA
9 Branches
KeyCorp
OH Bank 6/23/1997 Completed On 12/8/1997 NA NA
NA OH Thrift 1/1/0001 NA NA NA
NA OH Thrift 1/1/0001 NA NA NA
NA NA Bank 1/1/0001 NA NA NA
Oak Street Holdings Corporation IN Specialty Lender 7/23/2015 Completed On 8/14/2015 110.00 241,700
Commercial business loans
Irwin Financial Corporation
IN Specialty Lender 6/30/2009 Completed On 6/30/2009 149.70 NA
White & Havens Insurance Services IN Insurance Broker 2/1/2004 Completed On 2/1/2004 NA NA
Wilson Lawson Meyers Insurance Agency IN Insurance Broker 2/1/2003 Completed On 2/1/2003 NA NA

Target Buyer Industry Type Announce Date Status Number of Branches All Branch States Total Deposits Transferred($ 000)
Krumme & Brock Investment Services, LLC
Bancorp. of Southern Indiana
Broker-Dealer 6/18/2018 Pending NA IN NA
5 Branches
German American Bancorp, Inc.
Bank 2/13/2018 Completed On 5/18/2018 5 IN 175,000
Commercial loan portfolio
First National Bancshares, Incorporated
Specialty Lender 3/24/2011 Completed On 3/31/2011 NA MI NA
Portfolio of performing loans
Beach Business Bank
Specialty Lender 12/29/2009 Completed On 12/29/2009 NA NA NA
Insurance business
Knight Crockett Miller Insurance Group
Insurance Broker 3/31/2009 Completed On 3/31/2009 NA OH NA
Merchant payment processing portfolio
Marshall & Ilsley Corporation
Financial Technology 10/11/2007 Completed On 10/11/2007 NA NA NA
Mortgage portfolio servicing rights
PHH Corporation
Specialty Lender 3/22/2007 Completed On 10/24/2007 NA NA NA
2 Branches
Chemical Financial Corporation
Bank 5/12/2006 Completed On 8/18/2006 2 MI 47,000
3 Branches
MutualFirst Financial, Inc.
Bank 5/11/2006 Completed On 8/18/2006 3 IN 12,327
5 Branches
MainSource Financial Group, Inc.
Bank 4/24/2006 Completed On 8/18/2006 5 IN 51,375
Fidelity FSB of Marion
MutualFirst Financial, Inc.
Thrift 3/3/2005 Completed On 9/16/2005 3 IN 76,490
1 Branch
Community Bancorp
Bank 4/30/2004 Completed On 7/16/2004 1 IN 8,400
Substandard loans
Undisclosed buyer
Specialty Lender 12/22/2003 Completed On 12/22/2003 NA NA NA
Substandard loans
Undisclosed buyer
Specialty Lender 12/19/2003 Completed On 12/19/2003 NA NA NA
Substandard loans
Undisclosed buyer
Specialty Lender 12/17/2003 Completed On 12/17/2003 NA NA NA
1 Branch
FCN Banc Corp.
Bank 9/12/2003 Completed On 12/11/2003 1 IN 39,700
1 Branch
OSB Bancorp, Incorporated
Bank 5/13/2003 Completed On 9/11/2003 1 OH 14,000