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First Financial Bancorp Announces Second Quarter and Year to Date

2025 Financial Results & Quarterly Dividend Increase

•Earnings per diluted share of $0.73; $0.74 on an adjusted(1) basis

•Return on average assets of 1.52%; 1.54% on an adjusted(1) basis

•Net interest margin on FTE basis(1) of 4.05%; 17 bp increase from first quarter

•Record quarterly revenue of $226.3 million

•TCE ratio increased to 8.40%; ROATCE of 20%

•Net charge-offs 0.21% as a percentage of total loans

•Board of Directors approved quarterly dividend increase to $0.25

Cincinnati, Ohio - July 24, 2025. First Financial Bancorp. (Nasdaq: FFBC) (“First Financial” or the “Company”) announced financial results for the three and six months ended June 30, 2025.

For the three months ended June 30, 2025, the Company reported net income of $70.0 million, or $0.73 per diluted common share. These results compare to net income of $51.3 million, or $0.54 per diluted common share, for the first quarter of 2025. For the six months ended June 30, 2025, First Financial had earnings per diluted share of $1.27 compared to $1.17 for the same period in 2024.

Return on average assets for the second quarter of 2025 was 1.52% while return on average tangible common equity was 19.61%(1). These compare to return on average assets of 1.13% and return on average tangible common equity of 15.16%(1) in the first quarter of 2025.

Second quarter 2025 highlights include:

•Robust net interest margin of 4.01%, or 4.05% on a fully tax-equivalent basis(1)

◦17 bp increase from first quarter

◦12 bp decline in funding costs and 5 bp increase in asset yields

•Noninterest income of $68.1 million, or $67.8 million as adjusted(1)

◦Adjustments include $0.2 million gain on sales of investment securities

◦Double digit percentage growth from linked quarter in mortgage and bankcard income

◦Strong leasing business income of $20.8 million, an increase of 11.2% from first quarter

◦Foreign exchange income increased $1.2 million, or 9.7% from first quarter

•Noninterest expenses of $128.7 million, or $127.6 million as adjusted(1); 0.8% increase from linked quarter

◦Second quarter adjustments(1) include $1.0 million of efficiency and acquisition related costs

◦Efficiency ratio of 56.9%; 56.4% as adjusted(1)

•Loan growth during the quarter of 2% on an annualized basis

◦Loan balances increased $62.1 million compared to the linked quarter

◦Quarterly growth driven by C&I, Agile, Summit and Consumer; offsetting elevated prepayments in ICRE

•Average deposit growth of 3% on an annualized basis

◦Average deposit balances increased $114.1 million

◦Second quarter included $85 million seasonal increase in public funds

◦Growth in noninterest bearing deposits, retail CDs, and savings offset by declines in interest-bearing demand and money market balances

_________________________________________________________________________________________

(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.

•Total Allowance for Credit Losses of $175.7 million; Total quarterly provision expense of $9.8 million

◦Loans and leases - ACL of $158.5 million; ratio to total loans of 1.34%

◦Unfunded Commitments - ACL of $17.1 million

◦Provision expense driven by loan growth and net charge-offs

◦Annualized net charge-offs were 21 bps of total loans; 15 bp decline from linked quarter

◦Nonperforming assets increased 9 bps to 0.41% of total assets

•Capital ratios stable and strong

◦Total capital ratio increased 8 bps to 14.98%

◦Tier 1 common equity increased 28 bps to 12.57%

◦Tangible common equity of 8.40%(1); 9.81%(1) excluding impact from AOCI

◦Tangible book value per share of $15.40(1); 4% increase from linked quarter

Additionally, the Board of Directors approved a quarterly dividend of $0.25 per common share for the next regularly scheduled dividend, payable on September 15, 2025 to shareholders of record as of September 2, 2025.

Archie Brown, President and CEO, commented on the quarter, “I am thrilled with our performance this quarter. We achieved record revenue of $226.3 million, which represents a 5% increase over the same quarter one year ago. This drove adjusted(1) earnings per share of $0.74, an adjusted(1) return on assets of 1.54% and an adjusted(1) return on tangible common equity of 20%. The Company’s industry-leading profitability was once again driven by a robust net interest margin. Loan growth was 2% on an annualized basis, and we were pleased with broad-based growth in most portfolios, with the exception of commercial real estate, which declined due to accelerated payoffs. Payoffs have started to subside, and we expect higher loan growth in the second half of this year.”

Mr. Brown continued, “We recorded adjusted(1) noninterest income of $67.8 million in the second quarter, which was an 11% increase over the linked quarter and a 10% increase over the second quarter of 2024. Growth in fees was broad-based, with mortgage, bankcard income, leasing business income and Bannockburn all increasing by double-digit percentages over the linked quarter. We were also pleased with our expense management, with adjusted(1) noninterest expenses increasing 1% compared to the first quarter. Excluding leasing business expenses, which continue to increase as our operating lease portfolio grows, adjusted(1) noninterest expenses increased by less than 2% year over year."

Mr. Brown commented on asset quality, “Asset quality was stable for the quarter. Net charge-offs declined 15 basis points from the first quarter to 21 basis points of total loans and classified asset balances were relatively flat. Our outlook for asset quality remains positive, and we expect net charge-offs to be in the 20-25 basis points range for the remainder of the year."

Mr. Brown discussed capital and an increase to the common dividend, “We are pleased with the strength of our capital levels. Regulatory ratios are very strong and TCE has continued to grow, increasing 16% over the last year to 8.40%. Tangible book value per share increased to $15.40, which was a 4% increase from the linked quarter and a 19% increase over the same period last year. We are also pleased to announce that our Board of Directors approved a $0.01, or 4.2%, increase in the common dividend to $0.25. The dividend payout remains approximately 35% of net income and continues to provide an attractive yield."

Mr. Brown concluded, “We are excited about our recent announcement to acquire Westfield Bank in Northeast Ohio and are actively engaged in the integration process. Appropriate applications have been filed with our regulators, and we continue to expect approval and closing to occur this year. In summary, we are very pleased with our second quarter and year to date financial performance and remain very excited about our outlook for the remainder of 2025 and beyond.”

Full detail of the Company’s second 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, July 25, 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 August 8, 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:

•economic, market, liquidity, credit, interest rate, operational and technological risks associated with the Company’s business;

•future credit quality and performance, including our expectations regarding future loan losses and our allowance for credit losses

•the effect of and changes in policies and laws or regulatory agencies, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and other legislation and regulation relating to the banking industry;

•Management’s ability to effectively execute its business plans;

•mergers and acquisitions, including costs or difficulties related to the integration of acquired companies;

•the possibility that any of the anticipated benefits of the Company’s acquisitions will not be realized or will not be realized within the expected time period;

•the effect of changes in accounting policies and practices;

•changes in consumer spending, borrowing and saving and changes in unemployment;

•changes in customers’ performance and creditworthiness;

•the costs and effects of litigation and of unexpected or adverse outcomes in such litigation;

•current and future economic and market conditions, including the effects of changes in housing prices, fluctuations in unemployment rates, U.S. fiscal debt, budget and tax matters, geopolitical matters, trade and tariff policies, and any slowdown in global economic growth;

•the adverse impact on the U.S. economy, including the markets in which we operate, of the novel coronavirus, which causes the Coronavirus disease 2019 (“COVID-19”), global pandemic, and the impact on the performance of our loan and lease portfolio, the market value of our investment securities, the availability of sources of funding and the demand for our products;

•our capital and liquidity requirements (including under regulatory capital standards, such as the Basel III capital standards) and our ability to generate capital internally or raise capital on favorable terms;

•financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including the Dodd-Frank Act and other legislation and regulation relating to bank products and services;

•the effect of the current interest rate environment or changes in interest rates or in the level or composition of our assets or liabilities on our net interest income, net interest margin and our mortgage originations, mortgage servicing rights and mortgage loans held for sale;

•the effect of a fall in stock market prices on our brokerage, asset and wealth management businesses;

•a failure in or breach of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber attacks;

•the effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin; and

•our ability to develop and execute effective business plans and strategies.

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 June 30, 2025, the Company had $18.6 billion in assets, $11.8 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 $3.8 billion in assets under management as of June 30, 2025. The Company operated 128 full service banking centers as of June 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.

Contact Information

Investors/Analysts Media

Jamie Anderson Tim Condron

Chief Financial Officer Director of Corporate Communications

(513) 887-5400 (513) 979-5796

InvestorRelations@bankatfirst.com media@bankatfirst.com

Selected Financial Information

June 30, 2025

(unaudited)


Contents			Page
Consolidated Financial Highlights			2
Consolidated Statements of Income			3
Consolidated Quarterly Statements of Income			4-5
Consolidated Statements of Condition			6
Average Consolidated Statements of Condition			7
Net Interest Margin Rate / Volume Analysis			8-9
Credit Quality			10
Capital Adequacy			11


FIRST FINANCIAL BANCORP.
CONSOLIDATED FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share data)
(Unaudited)

	Three Months Ended,															Six months ended,
	June 30,			Mar. 31,			Dec. 31,			Sep. 30,			June 30,			June 30,
	2025			2025			2024			2024			2024			2025			2024
RESULTS OF OPERATIONS
Net income	$	69,996		$	51,293		$	64,885		$	52,451		$	60,805		$	121,289		$	111,494
Net earnings per share - basic	$	0.74		$	0.54		$	0.69		$	0.56		$	0.64		$	1.28		$	1.18
Net earnings per share - diluted	$	0.73		$	0.54		$	0.68		$	0.55		$	0.64		$	1.27		$	1.17
Dividends declared per share	$	0.24		$	0.24		$	0.24		$	0.24		$	0.23		$	0.48		$	0.46

KEY FINANCIAL RATIOS
Return on average assets	1.52		%	1.13		%	1.41		%	1.17		%	1.38		%	1.33		%	1.28		%
Return on average shareholders' equity	11.16		%	8.46		%	10.57		%	8.80		%	10.72		%	9.83		%	9.86		%
Return on average tangible shareholders' equity (1)	19.61		%	15.16		%	19.08		%	16.29		%	20.57		%	17.44		%	18.97		%

Net interest margin	4.01		%	3.84		%	3.91		%	4.05		%	4.06		%	3.93		%	4.06		%
Net interest margin (fully tax equivalent) (1)(2)	4.05		%	3.88		%	3.94		%	4.08		%	4.10		%	3.96		%	4.10		%

Ending shareholders' equity as a percent of ending assets	13.73		%	13.55		%	13.13		%	13.50		%	12.81		%	13.73		%	12.81		%
Ending tangible shareholders' equity as a percent of:
Ending tangible assets (1)	8.40		%	8.16		%	7.73		%	7.98		%	7.23		%	8.40		%	7.23		%
Risk-weighted assets (1)	10.44		%	10.10		%	9.61		%	9.86		%	8.95		%	10.44		%	8.95		%

Average shareholders' equity as a percent of average assets	13.66		%	13.38		%	13.36		%	13.28		%	12.87		%	13.52		%	12.98		%
Average tangible shareholders' equity as a percent of average tangible assets (1)	8.26		%	7.94		%	7.87		%	7.64		%	7.15		%	8.10		%	7.20		%

Book value per share	$	26.71		$	26.13		$	25.53		$	25.66		$	24.36		$	26.71		$	24.36
Tangible book value per share (1)	$	15.40		$	14.80		$	14.15		$	14.26		$	12.94		$	15.40		$	12.94

Common equity tier 1 ratio (3)	12.57		%	12.29		%	12.16		%	12.04		%	11.78		%	12.57		%	11.78		%
Tier 1 ratio (3)	12.89		%	12.61		%	12.48		%	12.37		%	12.11		%	12.89		%	12.11		%
Total capital ratio (3)	14.98		%	14.90		%	14.64		%	14.58		%	14.47		%	14.98		%	14.47		%
Leverage ratio (3)	10.28		%	10.01		%	9.98		%	9.93		%	9.73		%	10.28		%	9.73		%

AVERAGE BALANCE SHEET ITEMS
Loans (4)	$	11,792,840		$	11,724,727		$	11,687,886		$	11,534,000		$	11,440,930		$	11,758,972		$	11,253,557

Investment securities	3,478,921			3,411,593			3,372,539			3,274,498			3,131,541			3,445,443			3,134,603
Interest-bearing deposits with other banks	542,815			615,812			654,251			483,880			599,348			579,112			576,501
Total earning assets	$	15,814,576		$	15,752,132		$	15,714,676		$	15,292,378		$	15,171,819		$	15,783,527		$	14,964,661
Total assets	$	18,419,437		$	18,368,604		$	18,273,419		$	17,854,191		$	17,728,251		$	18,394,161		$	17,517,236
Noninterest-bearing deposits	$	3,143,081		$	3,091,037		$	3,162,643		$	3,106,239		$	3,144,198		$	3,117,203		$	3,156,974
Interest-bearing deposits	11,211,694			11,149,633			11,177,010			10,690,265			10,486,068			11,180,835			10,297,742
Total deposits	$	14,354,775		$	14,240,670		$	14,339,653		$	13,796,504		$	13,630,266		$	14,298,038		$	13,454,716
Borrowings	$	910,573		$	1,001,337		$	855,083		$	1,053,737		$	1,171,246		$	955,704		$	1,155,130
Shareholders' equity	$	2,515,747		$	2,457,785		$	2,441,045		$	2,371,125		$	2,281,040		$	2,486,926		$	2,273,301

CREDIT QUALITY RATIOS
Allowance to ending loans	1.34		%	1.33		%	1.33		%	1.37		%	1.36		%	1.34		%	1.36		%
Allowance to nonaccrual loans	206.08		%	261.07		%	237.66		%	242.72		%	249.21		%	206.08		%	249.21		%


Nonaccrual loans to total loans	0.65		%	0.51		%	0.56		%	0.57		%	0.54		%	0.65		%	0.54		%
Nonperforming assets to ending loans, plus OREO	0.65		%	0.51		%	0.56		%	0.57		%	0.54		%	0.65		%	0.54		%
Nonperforming assets to total assets	0.41		%	0.32		%	0.36		%	0.36		%	0.35		%	0.41		%	0.35		%
Classified assets to total assets	1.15		%	1.16		%	1.21		%	1.14		%	1.07		%	1.15		%	1.07		%
Net charge-offs to average loans (annualized)	0.21		%	0.36		%	0.40		%	0.25		%	0.15		%	0.28		%	0.27		%

(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) June 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,								Six months ended,
	June 30,								June 30,
	2025			2024			% Change		2025			2024			% Change
Interest income
Loans and leases, including fees	$	201,460		$	211,760		(4.9)	%	$	398,623		$	413,600		(3.6)	%
Investment securities
Taxable	36,243			30,295			19.6	%	70,644			58,591			20.6	%
Tax-exempt	2,233			2,704			(17.4)	%	4,437			5,796			(23.4)	%
Total investment securities interest	38,476			32,999			16.6	%	75,081			64,387			16.6	%
Other earning assets	5,964			7,960			(25.1)	%	12,615			15,418			(18.2)	%
Total interest income	245,900			252,719			(2.7)	%	486,319			493,405			(1.4)	%

Interest expense
Deposits	75,484			83,022			(9.1)	%	154,125			159,097			(3.1)	%
Short-term borrowings	6,393			11,395			(43.9)	%	13,938			22,338			(37.6)	%
Long-term borrowings	5,754			4,991			15.3	%	10,691			9,919			7.8	%
Total interest expense	87,631			99,408			(11.8)	%	178,754			191,354			(6.6)	%
Net interest income	158,269			153,311			3.2	%	307,565			302,051			1.8	%
Provision for credit losses-loans and leases	9,084			16,157			(43.8)	%	18,225			29,576			(38.4)	%
Provision for credit losses-unfunded commitments	718			286			151.0	%	277			(1,973)			(114.0)	%
Net interest income after provision for credit losses	148,467			136,868			8.5	%	289,063			274,448			5.3	%

Noninterest income
Service charges on deposit accounts	7,766			7,188			8.0	%	15,229			14,100			8.0	%
Wealth management fees	7,787			7,172			8.6	%	15,924			13,848			15.0	%
Bankcard income	3,737			3,900			(4.2)	%	7,047			7,042			0.1	%
Client derivative fees	1,674			763			119.4	%	3,245			2,013			61.2	%
Foreign exchange income	13,760			16,787			(18.0)	%	26,304			27,222			(3.4)	%
Leasing business income	20,797			16,828			23.6	%	39,500			31,417			25.7	%
Net gains from sales of loans	6,687			4,479			49.3	%	11,009			8,263			33.2	%
Net gain (loss) on investment securities	243			(64)			479.7	%	(9,706)			(5,251)			84.8	%



Other	5,612			4,448			26.2	%	10,594			9,359			13.2	%
Total noninterest income	68,063			61,501			10.7	%	119,146			108,013			10.3	%

Noninterest expenses
Salaries and employee benefits	74,917			75,225			(0.4)	%	150,155			149,262			0.6	%

Net occupancy	5,845			5,793			0.9	%	11,864			11,716			1.3	%
Furniture and equipment	3,441			3,646			(5.6)	%	7,254			7,334			(1.1)	%
Data processing	9,020			8,877			1.6	%	17,779			17,182			3.5	%
Marketing	2,737			2,605			5.1	%	4,755			4,567			4.1	%
Communication	681			816			(16.5)	%	1,493			1,611			(7.3)	%
Professional services	3,549			2,885			23.0	%	6,288			5,153			22.0	%
Amortization of tax credit investments	111			31			258.1	%	223			62			259.7	%
State intangible tax	1,517			875			73.4	%	2,394			1,752			36.6	%
FDIC assessments	2,611			2,657			(1.7)	%	5,670			5,437			4.3	%
Intangible amortization	2,358			2,396			(1.6)	%	4,717			4,697			0.4	%
Leasing business expense	13,155			10,128			29.9	%	25,957			19,882			30.6	%
Other	8,729			7,640			14.3	%	18,198			17,274			5.3	%
Total noninterest expenses	128,671			123,574			4.1	%	256,747			245,929			4.4	%
Income before income taxes	87,859			74,795			17.5	%	151,462			136,532			10.9	%
Income tax expense	17,863			13,990			27.7	%	30,173			25,038			20.5	%
Net income	$	69,996		$	60,805		15.1	%	$	121,289		$	111,494		8.8	%

ADDITIONAL DATA
Net earnings per share - basic	$	0.74		$	0.64				$	1.28		$	1.18
Net earnings per share - diluted	$	0.73		$	0.64				$	1.27		$	1.17
Dividends declared per share	$	0.24		$	0.23				$	0.48		$	0.46

Return on average assets	1.52		%	1.38		%			1.33		%	1.28		%
Return on average shareholders' equity	11.16		%	10.72		%			9.83		%	9.86		%

Interest income	$	245,900		$	252,719		(2.7)	%	$	486,319		$	493,405		(1.4)	%
Tax equivalent adjustment	1,246			1,418			(12.1)	%	2,459			2,953			(16.7)	%
Interest income - tax equivalent	247,146			254,137			(2.8)	%	488,778			496,358			(1.5)	%
Interest expense	87,631			99,408			(11.8)	%	178,754			191,354			(6.6)	%
Net interest income - tax equivalent	$	159,515		$	154,729		3.1	%	$	310,024		$	305,004		1.6	%

Net interest margin	4.01		%	4.06		%			3.93		%	4.06		%
Net interest margin (fully tax equivalent) (1)	4.05		%	4.10		%			3.96		%	4.10		%

Full-time equivalent employees	2,033			2,144

(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
	Second			First			Year to			% Change
	Quarter			Quarter			Date			Linked Qtr.
Interest income
Loans and leases, including fees	$	201,460		$	197,163		$	398,623		2.2	%
Investment securities
Taxable	36,243			34,401			70,644			5.4	%
Tax-exempt	2,233			2,204			4,437			1.3	%
Total investment securities interest	38,476			36,605			75,081			5.1	%
Other earning assets	5,964			6,651			12,615			(10.3)	%
Total interest income	245,900			240,419			486,319			2.3	%

Interest expense
Deposits	75,484			78,641			154,125			(4.0)	%
Short-term borrowings	6,393			7,545			13,938			(15.3)	%
Long-term borrowings	5,754			4,937			10,691			16.5	%
Total interest expense	87,631			91,123			178,754			(3.8)	%
Net interest income	158,269			149,296			307,565			6.0	%
Provision for credit losses-loans and leases	9,084			9,141			18,225			(0.6)	%
Provision for credit losses-unfunded commitments	718			(441)			277			(262.8)	%
Net interest income after provision for credit losses	148,467			140,596			289,063			5.6	%

Noninterest income
Service charges on deposit accounts	7,766			7,463			15,229			4.1	%
Wealth management fees	7,787			8,137			15,924			(4.3)	%
Bankcard income	3,737			3,310			7,047			12.9	%
Client derivative fees	1,674			1,571			3,245			6.6	%
Foreign exchange income	13,760			12,544			26,304			9.7	%
Leasing business income	20,797			18,703			39,500			11.2	%
Net gains from sales of loans	6,687			4,322			11,009			54.7	%
Net gain (loss) on investment securities	243			(9,949)			(9,706)			102.4	%

Other	5,612			4,982			10,594			12.6	%
Total noninterest income	68,063			51,083			119,146			33.2	%

Noninterest expenses
Salaries and employee benefits	74,917			75,238			150,155			(0.4)	%
Net occupancy	5,845			6,019			11,864			(2.9)	%
Furniture and equipment	3,441			3,813			7,254			(9.8)	%
Data processing	9,020			8,759			17,779			3.0	%
Marketing	2,737			2,018			4,755			35.6	%
Communication	681			812			1,493			(16.1)	%
Professional services	3,549			2,739			6,288			29.6	%
Amortization of tax credit investments	111			112			223			(0.9)	%
State intangible tax	1,517			877			2,394			73.0	%
FDIC assessments	2,611			3,059			5,670			(14.6)	%
Intangible amortization	2,358			2,359			4,717			0.0	%
Leasing business expense	13,155			12,802			25,957			2.8	%
Other	8,729			9,469			18,198			(7.8)	%
Total noninterest expenses	128,671			128,076			256,747			0.5	%
Income before income taxes	87,859			63,603			151,462			38.1	%
Income tax expense	17,863			12,310			30,173			45.1	%
Net income	$	69,996		$	51,293		$	121,289		36.5	%

ADDITIONAL DATA
Net earnings per share - basic	$	0.74		$	0.54		$	1.28
Net earnings per share - diluted	$	0.73		$	0.54		$	1.27
Dividends declared per share	$	0.24		$	0.24		$	0.48

Return on average assets	1.52		%	1.13		%	1.33		%
Return on average shareholders' equity	11.16		%	8.46		%	9.83		%

Interest income	$	245,900		$	240,419		$	486,319		2.3	%
Tax equivalent adjustment	1,246			1,213			2,459			2.7	%
Interest income - tax equivalent	247,146			241,632			488,778			2.3	%
Interest expense	87,631			91,123			178,754			(3.8)	%
Net interest income - tax equivalent	$	159,515		$	150,509		$	310,024		6.0	%

Net interest margin	4.01		%	3.84		%	3.93		%
Net interest margin (fully tax equivalent) (1)	4.05		%	3.88		%	3.96		%

Full-time equivalent employees	2,033			2,021

(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)

	2024
	Fourth			Third			Second			First			Full
	Quarter			Quarter			Quarter			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			31			31			31			14,396
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			2,395			2,396			2,301			9,487
Leasing business expense	12,536			11,899			10,128			9,754			44,317
Other	8,095			8,907			7,640			9,634			34,276
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		$	0.24		$	0.23		$	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		%	4.10		%	4.05		%

Full-time equivalent employees	2,064			2,084			2,144			2,116

(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 STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)

	June 30,		Mar. 31,		Dec. 31,		Sep. 30,		June 30,		% Change		% Change
	2025		2025		2024		2024		2024		Linked Qtr.		Comp Qtr.
ASSETS
Cash and due from banks	$	210,187	$	190,610	$	174,258	$	190,618	$	193,794	10.3	%	8.5	%
Interest-bearing deposits with other banks	570,173		633,349		730,228		660,576		738,555		(10.0)	%	(22.8)	%
Investment securities available-for-sale	3,386,562		3,260,981		3,183,776		3,157,265		3,036,758		3.9	%	11.5	%
Investment securities held-to-maturity	72,994		76,469		76,960		77,985		78,921		(4.5)	%	(7.5)	%
Other investments	122,322		120,826		114,598		120,318		132,412		1.2	%	(7.6)	%
Loans held for sale	26,504		17,927		13,181		12,685		16,911		47.8	%	56.7	%
Loans and leases
Commercial and industrial	3,927,771		3,832,350		3,815,858		3,678,546		3,782,487		2.5	%	3.8	%
Lease financing	587,176		573,608		598,045		587,415		534,557		2.4	%	9.8	%
Construction real estate	732,777		824,775		779,446		802,264		741,406		(11.2)	%	(1.2)	%
Commercial real estate	3,961,513		3,956,880		4,061,744		4,034,820		4,076,596		0.1	%	(2.8)	%
Residential real estate	1,492,688		1,479,704		1,462,284		1,422,186		1,377,290		0.9	%	8.4	%
Home equity	903,299		872,502		849,039		825,431		800,860		3.5	%	12.8	%
Installment	116,598		119,672		133,051		141,270		148,530		(2.6)	%	(21.5)	%
Credit card	64,374		64,639		62,311		61,140		59,477		(0.4)	%	8.2	%
Total loans	11,786,196		11,724,130		11,761,778		11,553,072		11,521,203		0.5	%	2.3	%
Less:
Allowance for credit losses	(158,522)		(155,482)		(156,791)		(158,831)		(156,185)		2.0	%	1.5	%
Net loans	11,627,674		11,568,648		11,604,987		11,394,241		11,365,018		0.5	%	2.3	%
Premises and equipment	197,741		197,968		197,965		196,692		197,873		(0.1)	%	(0.1)	%
Operating leases	217,100		213,648		209,119		201,080		167,472		1.6	%	29.6	%
Goodwill	1,007,656		1,007,656		1,007,656		1,007,656		1,007,656		0.0	%	0.0	%
Other intangibles	75,458		77,002		79,291		81,547		83,528		(2.0)	%	(9.7)	%

Accrued interest and other assets	1,119,884		1,089,983		1,178,242		1,045,669		1,147,282		2.7	%	(2.4)	%
Total Assets	$	18,634,255	$	18,455,067	$	18,570,261	$	18,146,332	$	18,166,180	1.0	%	2.6	%

LIABILITIES
Deposits
Interest-bearing demand	$	3,057,232	$	3,004,601	$	3,095,724	$	2,884,971	$	2,922,540	1.8	%	4.6	%
Savings	4,979,124		4,886,613		4,948,768		4,710,223		4,628,320		1.9	%	7.6	%
Time	3,201,711		3,144,440		3,152,265		3,244,861		3,049,635		1.8	%	5.0	%
Total interest-bearing deposits	11,238,067		11,035,654		11,196,757		10,840,055		10,600,495		1.8	%	6.0	%
Noninterest-bearing	3,131,926		3,161,302		3,132,381		3,107,699		3,061,427		(0.9)	%	2.3	%
Total deposits	14,369,993		14,196,956		14,329,138		13,947,754		13,661,922		1.2	%	5.2	%


FHLB short-term borrowings	680,000		735,000		625,000		765,000		1,040,000		(7.5)	%	(34.6)	%
Other	4,699		64,792		130,452		46,653		139,172		(92.7)	%	(96.6)	%
Total short-term borrowings	684,699		799,792		755,452		811,653		1,179,172		(14.4)	%	(41.9)	%
Long-term debt	344,955		345,878		347,509		344,086		338,556		(0.3)	%	1.9	%
Total borrowed funds	1,029,654		1,145,670		1,102,961		1,155,739		1,517,728		(10.1)	%	(32.2)	%
Accrued interest and other liabilities	676,453		611,206		700,121		592,401		660,091		10.7	%	2.5	%
Total Liabilities	16,076,100		15,953,832		16,132,220		15,695,894		15,839,741		0.8	%	1.5	%

SHAREHOLDERS' EQUITY
Common stock	1,638,796		1,637,041		1,642,055		1,639,045		1,635,705		0.1	%	0.2	%
Retained earnings	1,351,674		1,304,636		1,276,329		1,234,375		1,204,844		3.6	%	12.2	%
Accumulated other comprehensive income (loss)	(246,384)		(253,888)		(289,799)		(232,262)		(323,409)		(3.0)	%	(23.8)	%
Treasury stock, at cost	(185,931)		(186,554)		(190,544)		(190,720)		(190,701)		(0.3)	%	(2.5)	%
Total Shareholders' Equity	2,558,155		2,501,235		2,438,041		2,450,438		2,326,439		2.3	%	10.0	%
Total Liabilities and Shareholders' Equity	$	18,634,255	$	18,455,067	$	18,570,261	$	18,146,332	$	18,166,180	1.0	%	2.6	%


FIRST FINANCIAL BANCORP.
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)

	Quarterly Averages										Year-to-Date Averages
	June 30,		Mar. 31,		Dec. 31,		Sep. 30,		June 30,		June 30,
	2025		2025		2024		2024		2024		2025		2024
ASSETS
Cash and due from banks	$	174,375	$	164,734	$	182,242	$	179,321	$	174,435	$	169,581	$	189,277

Interest-bearing deposits with other banks	542,815		615,812		654,251		483,880		599,348		579,112		576,501
Investment securities	3,478,921		3,411,593		3,372,539		3,274,498		3,131,541		3,445,443		3,134,603
Loans held for sale	25,026		10,212		17,284		16,399		14,075		17,660		13,072
Loans and leases
Commercial and industrial	3,881,001		3,787,207		3,727,549		3,723,761		3,716,083		3,834,363		3,629,779
Lease financing	581,091		585,119		587,110		550,634		509,758		583,094		495,149
Construction real estate	784,028		797,100		826,936		763,779		683,780		790,528		643,877
Commercial real estate	3,958,730		4,018,211		4,045,347		4,059,939		4,146,764		3,988,306		4,124,001
Residential real estate	1,485,479		1,475,703		1,442,799		1,399,932		1,361,133		1,480,618		1,348,941
Home equity	891,761		858,153		837,863		811,265		790,384		875,050		777,897
Installment	117,724		127,192		136,927		143,102		151,753		122,432		154,708
Credit card	68,000		65,830		66,071		65,189		67,200		66,921		66,133
Total loans	11,767,814		11,714,515		11,670,602		11,517,601		11,426,855		11,741,312		11,240,485
Less:
Allowance for credit losses	(158,170)		(158,206)		(161,477)		(159,252)		(147,666)		(158,188)		(145,808)
Net loans	11,609,644		11,556,309		11,509,125		11,358,349		11,279,189		11,583,124		11,094,677
Premises and equipment	198,407		198,998		197,664		197,881		199,096		198,701		198,789
Operating leases	212,684		205,181		202,110		180,118		156,457		208,953		155,556
Goodwill	1,007,656		1,007,656		1,007,658		1,007,654		1,007,657		1,007,656		1,007,067
Other intangibles	76,076		78,220		80,486		82,619		84,577		77,142		84,343

Accrued interest and other assets	1,093,833		1,119,889		1,050,060		1,073,472		1,081,876		1,106,789		1,063,351
Total Assets	$	18,419,437	$	18,368,604	$	18,273,419	$	17,854,191	$	17,728,251	$	18,394,161	$	17,517,236

LIABILITIES
Deposits
Interest-bearing demand	$	3,066,986	$	3,090,526	$	3,081,148	$	2,914,934	$	2,888,252	$	3,078,691	$	2,892,010
Savings	5,005,526		4,918,004		4,886,784		4,694,923		4,617,658		4,962,007		4,508,713
Time	3,139,182		3,141,103		3,209,078		3,080,408		2,980,158		3,140,137		2,897,019
Total interest-bearing deposits	11,211,694		11,149,633		11,177,010		10,690,265		10,486,068		11,180,835		10,297,742
Noninterest-bearing	3,143,081		3,091,037		3,162,643		3,106,239		3,144,198		3,117,203		3,156,974
Total deposits	14,354,775		14,240,670		14,339,653		13,796,504		13,630,266		14,298,038		13,454,716
Federal funds purchased and securities sold
under agreements to repurchase	4,780		2,055		2,282		10,807		750		3,425		2,477
FHLB short-term borrowings	532,198		553,667		415,652		626,490		669,111		542,873		657,649
Other	26,226		99,378		93,298		76,859		161,913		62,600		154,020
Total short-term borrowings	563,204		655,100		511,232		714,156		831,774		608,898		814,146
Long-term debt	347,369		346,237		343,851		339,581		339,472		346,806		340,984
Total borrowed funds	910,573		1,001,337		855,083		1,053,737		1,171,246		955,704		1,155,130
Accrued interest and other liabilities	638,342		668,812		637,638		632,825		645,699		653,493		634,089
Total Liabilities	15,903,690		15,910,819		15,832,374		15,483,066		15,447,211		15,907,235		15,243,935

SHAREHOLDERS' EQUITY
Common stock	1,637,782		1,641,016		1,640,280		1,637,045		1,634,183		1,639,390		1,636,009
Retained earnings	1,322,168		1,282,300		1,249,263		1,210,924		1,179,827		1,302,344		1,162,137
Accumulated other comprehensive loss	(257,873)		(275,068)		(257,792)		(285,978)		(341,941)		(266,423)		(330,771)
Treasury stock, at cost	(186,330)		(190,463)		(190,706)		(190,866)		(191,029)		(188,385)		(194,074)
Total Shareholders' Equity	2,515,747		2,457,785		2,441,045		2,371,125		2,281,040		2,486,926		2,273,301
Total Liabilities and Shareholders' Equity	$	18,419,437	$	18,368,604	$	18,273,419	$	17,854,191	$	17,728,251	$	18,394,161	$	17,517,236


FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE/VOLUME ANALYSIS
(Dollars in thousands)
(Unaudited)

	Quarterly Averages																				Year-to-Date Averages
	June 30, 2025						March 31, 2025						June 30, 2024						June 30, 2025	June 30, 2024
	Balance		Interest		Yield		Balance		Interest		Yield		Balance		Interest		Yield				Balance		Yield		Balance		Yield
Earning assets
Investments:
Investment securities	$	3,478,921	$	38,476	4.44	%	$	3,411,593	$	36,605	4.35	%	$	3,131,541	$	32,999	4.23	%			$	3,445,443	4.39	%	$	3,134,603	4.14	%
Interest-bearing deposits with other banks	542,815		5,964		4.41	%	615,812		6,651		4.38	%	599,348		7,960		5.33	%			579,112		4.39	%	576,501		5.39	%
Gross loans (1)	11,792,840		201,460		6.85	%	11,724,727		197,163		6.82	%	11,440,930		211,760		7.42	%			11,758,972		6.84	%	11,253,557		7.41	%
Total earning assets	15,814,576		245,900		6.24	%	15,752,132		240,419		6.19	%	15,171,819		252,719		6.68	%			15,783,527		6.21	%	14,964,661		6.65	%

Nonearning assets
Allowance for credit losses	(158,170)						(158,206)						(147,666)								(158,188)				(145,808)
Cash and due from banks	174,375						164,734						174,435								169,581				189,277
Accrued interest and other assets	2,588,656						2,609,944						2,529,663								2,599,241				2,509,106
Total assets	$	18,419,437					$	18,368,604					$	17,728,251							$	18,394,161			$	17,517,236

Interest-bearing liabilities
Deposits:
Interest-bearing demand	$	3,066,986	$	14,139	1.85	%	$	3,090,526	$	15,188	1.99	%	$	2,888,252	$	14,923	2.07	%			$	3,078,691	1.92	%	$	2,892,010	2.08	%
Savings	5,005,526		29,942		2.40	%	4,918,004		30,355		2.50	%	4,617,658		33,142		2.88	%			4,962,007		2.45	%	4,508,713		2.80	%
Time	3,139,182		31,403		4.01	%	3,141,103		33,098		4.27	%	2,980,158		34,957		4.70	%			3,140,137		4.14	%	2,897,019		4.64	%
Total interest-bearing deposits	11,211,694		75,484		2.70	%	11,149,633		78,641		2.86	%	10,486,068		83,022		3.18	%			11,180,835		2.78	%	10,297,742		3.12	%
Borrowed funds
Short-term borrowings	563,204		6,393		4.55	%	655,100		7,545		4.67	%	831,774		11,395		5.49	%			608,898		4.62	%	814,146		5.53	%
Long-term debt	347,369		5,754		6.64	%	346,237		4,937		5.78	%	339,472		4,991		5.90	%			346,806		6.22	%	340,984		5.87	%
Total borrowed funds	910,573		12,147		5.35	%	1,001,337		12,482		5.06	%	1,171,246		16,386		5.61	%			955,704		5.20	%	1,155,130		5.63	%
Total interest-bearing liabilities	12,122,267		87,631		2.90	%	12,150,970		91,123		3.04	%	11,657,314		99,408		3.42	%			12,136,539		2.97	%	11,452,872		3.37	%

Noninterest-bearing liabilities
Noninterest-bearing demand deposits	3,143,081						3,091,037						3,144,198								3,117,203				3,156,974
Other liabilities	638,342						668,812						645,699								653,493				634,089
Shareholders' equity	2,515,747						2,457,785						2,281,040								2,486,926				2,273,301
Total liabilities & shareholders' equity	$	18,419,437					$	18,368,604					$	17,728,251							$	18,394,161			$	17,517,236

Net interest income	$	158,269					$	149,296					$	153,311							$	307,565			$	302,051
Net interest spread					3.34	%					3.15	%					3.26	%					3.24	%			3.28	%
Net interest margin					4.01	%					3.84	%					4.06	%					3.93	%			4.06	%

Tax equivalent adjustment					0.04	%					0.04	%					0.04	%					0.03	%			0.04	%
Net interest margin (fully tax equivalent)					4.05	%					3.88	%					4.10	%					3.96	%			4.10	%


(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	$	712	$	1,159	$	1,871		$	1,635	$	3,842	$	5,477		$	3,920	$	6,774	$	10,694
Interest-bearing deposits with other banks	41		(728)		(687)			(1,375)		(621)		(1,996)			(2,860)		57		(2,803)
Gross loans (2)	932		3,365		4,297			(16,312)		6,012		(10,300)			(32,110)		17,133		(14,977)
Total earning assets	1,685		3,796		5,481			(16,052)		9,233		(6,819)			(31,050)		23,964		(7,086)

Interest-bearing liabilities
Total interest-bearing deposits	$	(4,400)	$	1,243	$	(3,157)		$	(12,423)	$	4,885	$	(7,538)		$	(17,145)	$	12,173	$	(4,972)
Borrowed funds
Short-term borrowings	(191)		(961)		(1,152)			(1,953)		(3,049)		(5,002)			(3,702)		(4,698)		(8,400)
Long-term debt	735		82		817			632		131		763			593		179		772
Total borrowed funds	544		(879)		(335)			(1,321)		(2,918)		(4,239)			(3,109)		(4,519)		(7,628)
Total interest-bearing liabilities	(3,856)		364		(3,492)			(13,744)		1,967		(11,777)			(20,254)		7,654		(12,600)
Net interest income (1)	$	5,541	$	3,432	$	8,973		$	(2,308)	$	7,266	$	4,958		$	(10,796)	$	16,310	$	5,514


(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)
																Six months ended,
	June 30,			Mar. 31,			Dec. 31,			Sep. 30,			June 30,			June 30,			June 30,
	2025			2025			2024			2024			2024			2025			2024
ALLOWANCE FOR CREDIT LOSS ACTIVITY
Balance at beginning of period	$	155,482		$	156,791		$	158,831		$	156,185		$	144,274		$	156,791		$	141,433

Provision for credit losses	9,084			9,141			9,705			9,930			16,157			18,225			29,576
Gross charge-offs
Commercial and industrial	4,996			8,178			4,333			5,471			2,149			13,174			4,844
Lease financing	606			1,454			2,831			368			190			2,060			193
Construction real estate	0			0			0			0			0			0			0
Commercial real estate	0			0			5,051			261			2			0			5,321
Residential real estate	16			0			12			60			6			16			71
Home equity	100			86			210			90			122			186			147
Installment	1,120			1,321			1,680			1,510			2,034			2,441			4,270
Credit card	489			474			492			768			532			963			1,326
Total gross charge-offs	7,327			11,513			14,609			8,528			5,035			18,840			16,172
Recoveries
Commercial and industrial	290			195			1,779			434			236			485			398
Lease financing	11			29			17			11			1			40			60
Construction real estate	0			0			0			0			0			0			0
Commercial real estate	70			24			19			25			137			94			175
Residential real estate	42			24			23			22			37			66			61
Home equity	74			144			222			240			118			218			198
Installment	716			563			499			421			219			1,279			364
Credit card	80			84			305			91			41			164			92
Total recoveries	1,283			1,063			2,864			1,244			789			2,346			1,348
Total net charge-offs	6,044			10,450			11,745			7,284			4,246			16,494			14,824
Ending allowance for credit losses	$	158,522		$	155,482		$	156,791		$	158,831		$	156,185		$	158,522		$	156,185

NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)
Commercial and industrial	0.49		%	0.85		%	0.27		%	0.54		%	0.21		%	0.67		%	0.25		%
Lease financing	0.41		%	0.99		%	1.91		%	0.26		%	0.15		%	0.70		%	0.05		%
Construction real estate	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%
Commercial real estate	(0.01)		%	0.00		%	0.49		%	0.02		%	(0.01)		%	0.00		%	0.25		%
Residential real estate	(0.01)		%	(0.01)		%	0.00		%	0.01		%	(0.01)		%	(0.01)		%	0.00		%
Home equity	0.01		%	(0.03)		%	(0.01)		%	(0.07)		%	0.00		%	(0.01)		%	(0.01)		%
Installment	1.38		%	2.42		%	3.43		%	3.03		%	4.81		%	1.91		%	5.08		%
Credit card	2.41		%	2.40		%	1.13		%	4.13		%	2.94		%	2.41		%	3.75		%

Total net charge-offs	0.21		%	0.36		%	0.40		%	0.25		%	0.15		%	0.28		%	0.27		%

COMPONENTS OF NONACCRUAL LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans
Commercial and industrial	$	24,489		$	7,649		$	6,641		$	10,703		$	17,665		$	24,489		$	17,665
Lease financing	6,243			6,487			6,227			11,632			5,374			6,243			5,374
Construction real estate	1,365			0			0			0			0			1,365			0
Commercial real estate	23,905			25,736			32,303			23,608			22,942			23,905			22,942
Residential real estate	16,995			16,044			16,700			14,596			12,715			16,995			12,715
Home equity	3,226			2,920			3,418			4,074			3,295			3,226			3,295
Installment	701			719			684			826			682			701			682
Total nonaccrual loans	76,924			59,555			65,973			65,439			62,673			76,924			62,673


Other real estate owned (OREO)	204			213			64			30			30			204			30
Total nonperforming assets	77,128			59,768			66,037			65,469			62,703			77,128			62,703
Accruing loans past due 90 days or more	714			228			361			463			1,573			714			1,573
Total underperforming assets	$	77,842		$	59,996		$	66,398		$	65,932		$	64,276		$	77,842		$	64,276
Total classified assets	$	214,346		$	213,351		$	224,084		$	206,194		$	195,277		$	214,346		$	195,277

CREDIT QUALITY RATIOS
Allowance for credit losses to
Nonaccrual loans	206.08		%	261.07		%	237.66		%	242.72		%	249.21		%	206.08		%	249.21		%
Total ending loans	1.34		%	1.33		%	1.33		%	1.37		%	1.36		%	1.34		%	1.36		%
Nonaccrual loans to total loans	0.65		%	0.51		%	0.56		%	0.57		%	0.54		%	0.65		%	0.54		%
Nonperforming assets to
Ending loans, plus OREO	0.65		%	0.51		%	0.56		%	0.57		%	0.54		%	0.65		%	0.54		%
Total assets	0.41		%	0.32		%	0.36		%	0.36		%	0.35		%	0.41		%	0.35		%



Classified assets to total assets	1.15		%	1.16		%	1.21		%	1.14		%	1.07		%	1.15		%	1.07		%


FIRST FINANCIAL BANCORP.
CAPITAL ADEQUACY
(Dollars in thousands, except per share data)
(Unaudited)
	Three Months Ended,															Six months ended,
	June 30,			Mar. 31,			Dec. 31,			Sep. 30,			June 30,			June 30,			June 30,
	2025			2025			2024			2024			2024			2025			2024
PER COMMON SHARE
Market Price
High	$	25.19		$	29.04		$	30.34		$	28.09		$	23.78		$	29.04		$	23.78
Low	$	22.05		$	24.25		$	23.98		$	21.70		$	20.79		$	22.05		$	20.79
Close	$	24.26		$	24.98		$	26.88		$	25.23		$	22.22		$	24.26		$	22.22

Average shares outstanding - basic	94,860,428			94,645,787			94,486,838			94,473,666			94,438,235			94,753,700			94,328,151
Average shares outstanding - diluted	95,741,696			95,524,262			95,487,564			95,479,510			95,470,093			95,633,579			95,327,045
Ending shares outstanding	95,760,617			95,730,353			95,494,840			95,486,317			95,486,010			95,760,617			95,486,010

Total shareholders' equity	$	2,558,155		$	2,501,235		$	2,438,041		$	2,450,438		$	2,326,439		$	2,558,155		$	2,326,439

REGULATORY CAPITAL	Preliminary															Preliminary
Common equity tier 1 capital	$	1,776,038		$	1,724,134		$	1,709,422		$	1,661,759		$	1,626,345		$	1,776,038		$	1,626,345
Common equity tier 1 capital ratio	12.57		%	12.29		%	12.16		%	12.04		%	11.78		%	12.57		%	11.78		%
Tier 1 capital	$	1,821,316		$	1,769,357		$	1,754,584		$	1,706,796		$	1,671,258		$	1,821,316		$	1,671,258
Tier 1 ratio	12.89		%	12.61		%	12.48		%	12.37		%	12.11		%	12.89		%	12.11		%
Total capital	$	2,116,180		$	2,090,211		$	2,057,877		$	2,012,349		$	1,997,378		$	2,116,180		$	1,997,378
Total capital ratio	14.98		%	14.90		%	14.64		%	14.58		%	14.47		%	14.98		%	14.47		%
Total capital in excess of minimum requirement	$	632,563		$	617,347		$	581,659		$	563,273		$	548,037		$	632,563		$	548,037
Total risk-weighted assets	$	14,129,683		$	14,027,274		$	14,059,215		$	13,800,728		$	13,803,249		$	14,129,683		$	13,803,249
Leverage ratio	10.28		%	10.01		%	9.98		%	9.93		%	9.73		%	10.28		%	9.73		%

OTHER CAPITAL RATIOS
Ending shareholders' equity to ending assets	13.73		%	13.55		%	13.13		%	13.50		%	12.81		%	13.73		%	12.81		%
Ending tangible shareholders' equity to ending tangible assets (1)	8.40		%	8.16		%	7.73		%	7.98		%	7.23		%	8.40		%	7.23		%
Average shareholders' equity to average assets	13.66		%	13.38		%	13.36		%	13.28		%	12.87		%	13.52		%	12.98		%
Average tangible shareholders' equity to average tangible assets (1)	8.26		%	7.94		%	7.87		%	7.64		%	7.15		%	8.10		%	7.20		%

REPURCHASE PROGRAM (2)
Shares repurchased	0			0			0			0			0			0			0
Average share repurchase price	N/A			N/A			N/A			N/A			N/A			N/A			N/A
Total cost of shares repurchased	N/A			N/A			N/A			N/A			N/A			N/A			N/A

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

N/A = Not applicable