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First Financial Bancorp Announces Record Fourth Quarter,

Full Year 2025 Financial Results and Quarterly Dividend

•Earnings per diluted share of $0.64; $0.80 on an adjusted(1) basis is a Company record

•Return on average assets of 1.22%; 1.52% on an adjusted(1) basis

•Net interest margin on FTE basis(1) of 3.98%

•Record revenue of $251.3 million on an adjusted(1) basis

•Record noninterest income of $77.3 million on an adjusted(1) basis

•ROTCE of 16.3%; 20.3% on adjusted(1) basis

•Westfield acquisition closed November 1, 2025

•Obtained regulatory approval for BankFinancial acquisition; closed January 1, 2026

•$300 million of 6.375% subordinated debt issued

•Board of Directors approved quarterly dividend of $0.25

Cincinnati, Ohio - January 28, 2026. First Financial Bancorp. (Nasdaq: FFBC) (“First Financial” or the “Company”) announced financial results for the three and twelve months ended December 31 , 2025.

For the three months ended December 31, 2025, the Company reported net income of $62.4 million, or $0.64 per diluted common share. These results compare to net income of $71.9 million, or $0.75 per diluted common share, for the third quarter of 2025. For the twelve months ended December 31, 2025, First Financial had earnings per diluted share of $2.66 compared to $2.40 for the same period in 2024.

Return on average assets for the fourth quarter of 2025 was 1.22% while return on average tangible common equity was 16.27%(1). These compare to return on average assets of 1.54% and return on average tangible common equity of 19.11%(1) in the third quarter of 2025.

Fourth quarter 2025 highlights include:

•Robust net interest margin of 3.96%, or 3.98% on a fully tax-equivalent basis(1)

◦4 bp decrease from third quarter

◦Decline from linked quarter driven by a 19 bp decrease in asset yields, which was partially offset by lower funding costs

•Noninterest income of $64.8 million; $77.3 million on an adjusted(1) basis

◦Adjustments include a $12.6 million loss on securities

◦Record foreign exchange income increased 36.2% to $22.7 million

◦Strong leasing business income of $19.5 million

◦Record wealth management income increased 26.4%, to $9.3 million

•Noninterest expenses of $149.5 million, or $141.9 million as adjusted(1); 6.4% increase from linked quarter

◦Fourth quarter adjustments(1) include $5.7 million of acquisition related expenses, $0.8 million of tax credit investment writedowns and $1.2 million of efficiency and other noninterest expenses

◦Increase driven by the Westfield acquisition

◦Efficiency ratio of 62.6%; 56.5% as adjusted(1)

•Loan balances increased 4% on an annualized basis during the quarter, excluding Westfield

◦End of period loan balances increased $1.7 billion; includes $1.6 billion acquired in Westfield acquisition

◦$131 million of organic loan growth driven by C&I and leasing portfolios

___________________________________________________________________________________________

(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.

•Strong average deposit growth during the quarter

◦Total average deposit balances increased $1.4 billion; includes $1.2 billion impact from the Westfield acquisition

◦Organic growth of $264 million included increases in the majority of product types; 7% on an annualized basis

•Total Allowance for Credit Losses of $206.7 million; Total quarterly provision expense of $10.1 million

◦Loans and leases - ACL of $186.5 million; $23.7 million initial ACL related to Westfield

◦ACL to total loans of 1.39%

◦Unfunded Commitments - ACL of $20.2 million; $2.2 million related to Westfield

◦Annualized net charge-offs were 27 bps of total loans

◦Nonperforming assets increased slightly to 0.48% of total assets; Classified assets decreased to 1.11% of total assets

•Strong capital ratios

◦Total capital ratio increased 14 bps to 15.46%

◦Tier 1 common equity decreased 159 bps to 11.32%

◦Tangible common equity of 7.79%(1); 8.74%(1) excluding impact from AOCI

◦Tangible book value per share of $15.74(1); 2.8% decrease 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 March 16, 2026 to shareholders of record as of March 2, 2026.

Archie Brown, President and CEO, commented on the quarter, “I am very pleased with our record earnings performance for the fourth quarter. Adjusted(1) earnings per share were $0.80, leading to an adjusted(1) return on assets of 1.52%, an adjusted(1) return on tangible common equity ratio of 20.3%. The net interest margin, which declined slightly from the third quarter, has proven resilient as the reduction in funding costs negated most of the impact of short term rate reductions. Balance sheet trends were solid for the quarter with loan growth of 4% on an annualized basis and total average deposits increasing by approximately 7% on an annualized basis, excluding the impact from the Westfield acquisition.

Mr. Brown continued, “I am especially pleased with our robust noninterest income. Total adjusted(1) fee income was $77.3 million and increased 5% compared to the linked quarter. Wealth Management and foreign exchange income both increased by double-digit percentages, while leasing and mortgage income also remained strong. While adjusted(1) noninterest expenses increased by 6% from the linked quarter, most of the increase was driven by the Westfield acquisition.”

Mr. Brown commented on asset quality, “Asset quality was relatively stable for the quarter and provision expense was in line with our expectations at $10.1 million. Nonperforming assets (NPAs) increased slightly to 0.48% of assets and classified assets declined slightly to 1.11% of assets. Three loans drove the increase in NPAs, and net charge-offs were 27 bps, which was within our range of expectations.”

Mr. Brown highlighted full year results. “2025 was another great year for First Financial. On an adjusted(1) basis, our net income was $281.1 million, or $2.92 per share. Adjusted(1) return on assets was 1.49% and adjusted(1) return on tangible common equity was 19.3%. We were pleased with the performance of the net interest margin for the year. While the margin did decline year over year from 4.05% to 3.98%, we were able to offset most of the impact of short term rate decreases through the diligent management of deposit costs. Adjusted (1) noninterest income increased by 16% to a record $279.8 million, led by growth in wealth management, foreign exchange, leasing and mortgage income. The result was record revenue for the Company of $921.8 million, an 8% increase over 2024.”

Mr. Brown discussed asset quality and capital, “Similar to the fourth quarter, asset quality was relatively stable for the year. Provision expense declined 21% from 2024, net charge-offs as a percentage of average loans declined 5 basis points to 0.25% and our ACL coverage increased by 6 basis points to 1.39%. Capital levels remained strong during 2025. While the acquisition of Westfield negatively impacted our capital, our strong earnings drove an increase to tangible book value per share of 11%, from $14.15 to $15.74."

Mr. Brown concluded, ”We were very pleased with our overall performance in 2025. In addition to outstanding financial results, we successfully launched our Western Michigan banking office in Grand Rapids, and acquired two banking companies which strengthens our core funding and provides us with a platform for growth in two of the largest metropolitan markets in the Midwest. We received our second consecutive Outstanding CRA rating, demonstrating our commitment to creating opportunities for lower income communities in our footprint, and we were one of only 70 companies worldwide to be recognized by Gallup as an Exceptional Workplace. Finally, I want to recognize and thank our associates for their hard work and commitment. Due to their efforts, First Financial consistently delivers industry leading performance.”

Full detail of the Company’s fourth quarter and full year 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 Thursday, January 29, 2026 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 February 12, 2026. 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;

•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 December 31, 2025, the Company had $21.1 billion in assets, $13.4 billion in loans, $16.4 billion in deposits and $2.8 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 $3.9 billion in assets under management as of December 31, 2025. The Company operated 134 full service banking centers as of December 31, 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

December 31, 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,															Twelve months ended,
	Dec. 31,			Sep. 30,			June 30,			Mar. 31,			Dec. 31,			Dec. 31,
	2025			2025			2025			2025			2024			2025			2024
RESULTS OF OPERATIONS
Net income	$	62,393		$	71,923		$	69,996		$	51,293		$	64,885		$	255,605		$	228,830
Net earnings per share - basic	$	0.65		$	0.76		$	0.74		$	0.54		$	0.69		$	2.68		$	2.42
Net earnings per share - diluted	$	0.64		$	0.75		$	0.73		$	0.54		$	0.68		$	2.66		$	2.40
Dividends declared per share	$	0.25		$	0.25		$	0.24		$	0.24		$	0.24		$	0.98		$	0.94

KEY FINANCIAL RATIOS
Return on average assets	1.22		%	1.54		%	1.52		%	1.13		%	1.41		%	1.35		%	1.29		%
Return on average shareholders' equity	9.18		%	11.08		%	11.16		%	8.46		%	10.57		%	9.98		%	9.78		%
Return on average tangible shareholders' equity (1)	16.27		%	19.11		%	19.61		%	15.16		%	19.08		%	17.57		%	18.31		%

Net interest margin	3.96		%	3.99		%	4.01		%	3.84		%	3.91		%	3.95		%	4.02		%
Net interest margin (fully tax equivalent) (1)(2)	3.98		%	4.02		%	4.05		%	3.88		%	3.94		%	3.98		%	4.05		%

Ending shareholders' equity as a percent of ending assets	13.11		%	14.18		%	13.73		%	13.55		%	13.13		%	13.11		%	13.13		%
Ending tangible shareholders' equity as a percent of:
Ending tangible assets (1)	7.79		%	8.87		%	8.40		%	8.16		%	7.73		%	7.79		%	7.73		%
Risk-weighted assets (1)	9.76		%	10.94		%	10.44		%	10.10		%	9.61		%	9.76		%	9.61		%

Average shareholders' equity as a percent of average assets	13.31		%	13.87		%	13.66		%	13.38		%	13.36		%	13.55		%	13.15		%
Average tangible shareholders' equity as a percent of average tangible assets (1)	7.97		%	8.54		%	8.26		%	7.94		%	7.87		%	8.17		%	7.48		%

Book value per share	$	28.11		$	27.48		$	26.71		$	26.13		$	25.53		$	28.11		$	25.53
Tangible book value per share (1)	$	15.74		$	16.19		$	15.40		$	14.80		$	14.15		$	15.74		$	14.15

Common equity tier 1 ratio (3)	11.32		%	12.91		%	12.57		%	12.29		%	12.16		%	11.32		%	12.16		%
Tier 1 ratio (3)	11.60		%	13.23		%	12.89		%	12.61		%	12.48		%	11.60		%	12.48		%
Total capital ratio (3)	15.46		%	15.32		%	14.98		%	14.90		%	14.64		%	15.46		%	14.64		%
Leverage ratio (3)	9.53		%	10.50		%	10.28		%	10.01		%	9.98		%	9.53		%	9.98		%

AVERAGE BALANCE SHEET ITEMS
Loans (4)	$	12,812,267		$	11,806,065		$	11,792,840		$	11,724,727		$	11,687,886		$	12,036,330		$	11,433,226

Investment securities	3,988,846			3,552,014			3,478,921			3,411,593			3,372,539			3,609,272			3,229,577
Interest-bearing deposits with other banks	647,347			610,074			542,815			615,812			654,251			604,115			572,763
Total earning assets	$	17,448,460		$	15,968,153		$	15,814,576		$	15,752,132		$	15,714,676		$	16,249,717		$	15,235,566
Total assets	$	20,256,539		$	18,566,188		$	18,419,437		$	18,368,604		$	18,273,419		$	18,906,942		$	17,792,014
Noninterest-bearing deposits	$	3,436,709		$	3,124,277		$	3,143,081		$	3,091,037		$	3,162,643		$	3,199,519		$	3,145,646
Interest-bearing deposits	12,521,948			11,387,648			11,211,694			11,149,633			11,177,010			11,570,997			10,617,427
Total deposits	$	15,958,657		$	14,511,925		$	14,354,775		$	14,240,670		$	14,339,653		$	14,770,516		$	13,763,073
Borrowings	$	848,650		$	823,346		$	910,573		$	1,001,337		$	855,083		$	895,359		$	1,054,222
Shareholders' equity	$	2,695,581		$	2,575,203		$	2,515,747		$	2,457,785		$	2,441,045		$	2,561,769		$	2,340,056

CREDIT QUALITY RATIOS
Allowance to ending loans	1.39		%	1.38		%	1.34		%	1.33		%	1.33		%	1.39		%	1.33		%
Allowance to nonaccrual loans	183.18		%	213.18		%	206.08		%	261.07		%	237.66		%	183.18		%	237.66		%


Nonaccrual loans to total loans	0.76		%	0.65		%	0.65		%	0.51		%	0.56		%	0.76		%	0.56		%
Nonperforming assets to ending loans, plus OREO	0.76		%	0.65		%	0.65		%	0.51		%	0.56		%	0.76		%	0.56		%
Nonperforming assets to total assets	0.48		%	0.41		%	0.41		%	0.32		%	0.36		%	0.48		%	0.36		%
Classified assets to total assets	1.11		%	1.18		%	1.15		%	1.16		%	1.21		%	1.11		%	1.21		%
Net charge-offs to average loans (annualized)	0.27		%	0.18		%	0.21		%	0.36		%	0.40		%	0.25		%	0.30		%

(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) December 31, 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,								Twelve months ended,
	Dec. 31,								Dec. 31,
	2025			2024			% Change		2025			2024			% Change
Interest income
Loans and leases, including fees	$	215,663		$	207,508		3.9	%	$	819,151		$	836,541		(2.1)	%
Investment securities
Taxable	40,971			33,978			20.6	%	148,036			124,936			18.5	%
Tax-exempt	2,363			2,423			(2.5)	%	8,995			10,835			(17.0)	%
Total investment securities interest	43,334			36,401			19.0	%	157,031			135,771			15.7	%
Other earning assets	6,334			7,662			(17.3)	%	25,722			29,783			(13.6)	%
Total interest income	265,331			251,571			5.5	%	1,001,904			1,002,095			0.0	%

Interest expense
Deposits	78,861			85,441			(7.7)	%	310,752			331,092			(6.1)	%
Short-term borrowings	4,925			6,586			(25.2)	%	24,842			38,856			(36.1)	%
Long-term borrowings	7,550			5,145			46.7	%	24,264			20,137			20.5	%
Total interest expense	91,336			97,172			(6.0)	%	359,858			390,085			(7.7)	%
Net interest income	173,995			154,399			12.7	%	642,046			612,010			4.9	%
Provision for credit losses-loans and leases	9,688			9,705			(0.2)	%	36,525			49,211			(25.8)	%
Provision for credit losses-unfunded commitments	412			(273)			(250.9)	%	1,142			(1,552)			(173.6)	%
Net interest income after provision for credit losses	163,895			144,967			13.1	%	604,379			564,351			7.1	%

Noninterest income
Service charges on deposit accounts	8,308			7,632			8.9	%	31,366			29,279			7.1	%
Wealth management fees	9,288			7,962			16.7	%	32,563			28,720			13.4	%
Bankcard income	3,590			3,659			(1.9)	%	14,226			14,399			(1.2)	%
Client derivative fees	2,681			1,528			75.5	%	7,802			4,701			66.0	%
Foreign exchange income	22,696			16,794			35.1	%	65,666			56,064			17.1	%
Leasing business income	19,523			19,413			0.6	%	80,020			67,641			18.3	%
Net gains from sales of loans	7,041			4,634			51.9	%	24,885			17,918			38.9	%
Net gain (loss) on investment securities	(12,576)			144			N/M		(22,324)			(22,575)			(1.1)	%



Other	4,216			8,088			(47.9)	%	23,234			27,421			(15.3)	%
Total noninterest income	64,767			69,854			(7.3)	%	257,438			223,568			15.1	%

Noninterest expenses
Salaries and employee benefits	85,123			80,314			6.0	%	315,885			304,389			3.8	%

Net occupancy	6,315			5,415			16.6	%	24,182			23,050			4.9	%
Furniture and equipment	3,940			3,476			13.3	%	14,776			14,427			2.4	%
Data processing	10,465			9,139			14.5	%	37,835			35,178			7.6	%
Marketing	3,056			2,204			38.7	%	10,170			9,026			12.7	%
Communication	825			767			7.6	%	3,013			3,229			(6.7)	%
Professional services	6,231			6,631			(6.0)	%	14,833			14,087			5.3	%
Amortization of tax credit investments	800			14,303			(94.4)	%	1,135			14,397			(92.1)	%
State intangible tax	1,679			(104)			N/M		5,604			2,524			122.0	%
FDIC assessments	2,923			2,736			6.8	%	11,204			11,209			0.0	%
Intangible amortization	3,927			2,395			64.0	%	11,003			9,487			16.0	%
Leasing business expense	13,837			12,536			10.4	%	53,705			44,317			21.2	%
Other	10,410			8,095			28.6	%	37,202			34,275			8.5	%
Total noninterest expenses	149,531			147,907			1.1	%	540,547			519,595			4.0	%
Income before income taxes	79,131			66,914			18.3	%	321,270			268,324			19.7	%
Income tax expense	16,738			2,029			724.9	%	65,665			39,494			66.3	%
Net income	$	62,393		$	64,885		(3.8)	%	$	255,605		$	228,830		11.7	%

ADDITIONAL DATA
Net earnings per share - basic	$	0.65		$	0.69				$	2.68		$	2.42
Net earnings per share - diluted	$	0.64		$	0.68				$	2.66		$	2.40
Dividends declared per share	$	0.25		$	0.24				$	0.98		$	0.94

Return on average assets	1.22		%	1.41		%			1.35		%	1.29		%
Return on average shareholders' equity	9.18		%	10.57		%			9.98		%	9.78		%

Interest income	$	265,331		$	251,571		5.5	%	$	1,001,904		$	1,002,095		0.0	%
Tax equivalent adjustment	1,227			1,274			(3.7)	%	4,934			5,589			(11.7)	%
Interest income - tax equivalent	266,558			252,845			5.4	%	1,006,838			1,007,684			(0.1)	%
Interest expense	91,336			97,172			(6.0)	%	359,858			390,085			(7.7)	%
Net interest income - tax equivalent	$	175,222		$	155,673		12.6	%	$	646,980		$	617,599		4.8	%

Net interest margin	3.96		%	3.91		%			3.95		%	4.02		%
Net interest margin (fully tax equivalent) (1)	3.98		%	3.94		%			3.98		%	4.05		%

Full-time equivalent employees	2,164			2,064

(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
	Fourth			Third			Second			First			Year to			% Change
	Quarter			Quarter			Quarter			Quarter			Date			Linked Qtr.
Interest income
Loans and leases, including fees	$	215,663		$	204,865		$	201,460		$	197,163		$	819,151		5.3	%
Investment securities
Taxable	40,971			36,421			36,243			34,401			148,036			12.5	%
Tax-exempt	2,363			2,195			2,233			2,204			8,995			7.7	%
Total investment securities interest	43,334			38,616			38,476			36,605			157,031			12.2	%
Other earning assets	6,334			6,773			5,964			6,651			25,722			(6.5)	%
Total interest income	265,331			250,254			245,900			240,419			1,001,904			6.0	%

Interest expense
Deposits	78,861			77,766			75,484			78,641			310,752			1.4	%
Short-term borrowings	4,925			5,979			6,393			7,545			24,842			(17.6)	%
Long-term borrowings	7,550			6,023			5,754			4,937			24,264			25.4	%
Total interest expense	91,336			89,768			87,631			91,123			359,858			1.7	%
Net interest income	173,995			160,486			158,269			149,296			642,046			8.4	%
Provision for credit losses-loans and leases	9,688			8,612			9,084			9,141			36,525			12.5	%
Provision for credit losses-unfunded commitments	412			453			718			(441)			1,142			(9.1)	%
Net interest income after provision for credit losses	163,895			151,421			148,467			140,596			604,379			8.2	%

Noninterest income
Service charges on deposit accounts	8,308			7,829			7,766			7,463			31,366			6.1	%
Wealth management fees	9,288			7,351			7,787			8,137			32,563			26.4	%
Bankcard income	3,590			3,589			3,737			3,310			14,226			0.0	%
Client derivative fees	2,681			1,876			1,674			1,571			7,802			42.9	%
Foreign exchange income	22,696			16,666			13,760			12,544			65,666			36.2	%
Leasing business income	19,523			20,997			20,797			18,703			80,020			(7.0)	%
Net gains from sales of loans	7,041			6,835			6,687			4,322			24,885			3.0	%
Net gain (loss) on investment securities	(12,576)			(42)			243			(9,949)			(22,324)			N/M

Other	4,216			8,424			5,612			4,982			23,234			(50.0)	%
Total noninterest income	64,767			73,525			68,063			51,083			257,438			(11.9)	%

Noninterest expenses
Salaries and employee benefits	85,123			80,607			74,917			75,238			315,885			5.6	%
Net occupancy	6,315			6,003			5,845			6,019			24,182			5.2	%
Furniture and equipment	3,940			3,582			3,441			3,813			14,776			10.0	%
Data processing	10,465			9,591			9,020			8,759			37,835			9.1	%
Marketing	3,056			2,359			2,737			2,018			10,170			29.5	%
Communication	825			695			681			812			3,013			18.7	%
Professional services	6,231			2,314			3,549			2,739			14,833			169.3	%
Amortization of tax credit investments	800			112			111			112			1,135			614.3	%
State intangible tax	1,679			1,531			1,517			877			5,604			9.7	%
FDIC assessments	2,923			2,611			2,611			3,059			11,204			11.9	%
Intangible amortization	3,927			2,359			2,358			2,359			11,003			66.5	%
Leasing business expense	13,837			13,911			13,155			12,802			53,705			(0.5)	%
Other	10,410			8,594			8,729			9,469			37,202			21.1	%
Total noninterest expenses	149,531			134,269			128,671			128,076			540,547			11.4	%
Income before income taxes	79,131			90,677			87,859			63,603			321,270			(12.7)	%
Income tax expense	16,738			18,754			17,863			12,310			65,665			(10.7)	%
Net income	$	62,393		$	71,923		$	69,996		$	51,293		$	255,605		(13.3)	%

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		$	0.25		$	0.24		$	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		6.0	%
Tax equivalent adjustment	1,227			1,248			1,246			1,213			4,934			(1.7)	%
Interest income - tax equivalent	266,558			251,502			247,146			241,632			1,006,838			6.0	%
Interest expense	91,336			89,768			87,631			91,123			359,858			1.7	%
Net interest income - tax equivalent	$	175,222		$	161,734		$	159,515		$	150,509		$	646,980		8.3	%

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

(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			32			31			31			14,397
State intangible tax	(104)			876			875			877			2,524
FDIC assessments	2,736			3,036			2,657			2,780			11,209
Intangible amortization	2,395			2,395			2,396			2,301			9,487
Leasing business expense	12,536			11,899			10,128			9,754			44,317
Other	8,095			8,906			7,640			9,634			34,275
Total noninterest expenses	147,907			125,759			123,574			122,355			519,595
Income before income taxes	66,914			64,878			74,795			61,737			268,324
Income tax expense	2,029			12,427			13,990			11,048			39,494
Net income	$	64,885		$	52,451		$	60,805		$	50,689		$	228,830

ADDITIONAL DATA
Net earnings per share - basic	$	0.69		$	0.56		$	0.64		$	0.54		$	2.42
Net earnings per share - diluted	$	0.68		$	0.55		$	0.64		$	0.53		$	2.40
Dividends declared per share	$	0.24		$	0.24		$	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)

	Dec. 31,		Sep. 30,		June 30,		Mar. 31,		Dec. 31,		% Change		% Change
	2025		2025		2025		2025		2024		Linked Qtr.		Comp Qtr.
ASSETS
Cash and due from banks	$	178,553	$	174,659	$	210,187	$	190,610	$	174,258	2.2	%	2.5	%
Interest-bearing deposits with other banks	597,338		565,080		570,173		633,349		730,228		5.7	%	(18.2)	%
Investment securities available-for-sale	3,971,932		3,422,595		3,386,562		3,260,981		3,183,776		16.1	%	24.8	%
Investment securities held-to-maturity	58,545		71,595		72,994		76,469		76,960		(18.2)	%	(23.9)	%
Other investments	129,564		117,120		122,322		120,826		114,598		10.6	%	13.1	%
Loans held for sale	16,953		21,466		26,504		17,927		13,181		(21.0)	%	28.6	%
Loans and leases
Commercial and industrial	4,632,241		3,838,630		3,927,771		3,832,350		3,815,858		20.7	%	21.4	%
Lease financing	638,527		596,734		587,176		573,608		598,045		7.0	%	6.8	%
Construction real estate	677,339		627,960		732,777		824,775		779,446		7.9	%	(13.1)	%
Commercial real estate	4,384,556		4,048,370		3,961,513		3,956,880		4,061,744		8.3	%	7.9	%
Residential real estate	1,832,184		1,494,464		1,492,688		1,479,704		1,462,284		22.6	%	25.3	%
Home equity	1,005,204		935,975		903,299		872,502		849,039		7.4	%	18.4	%
Installment	188,694		109,764		116,598		119,672		133,051		71.9	%	41.8	%
Credit card	65,325		62,654		64,374		64,639		62,311		4.3	%	4.8	%
Total loans	13,424,070		11,714,551		11,786,196		11,724,130		11,761,778		14.6	%	14.1	%
Less:
Allowance for credit losses	(186,487)		(161,916)		(158,522)		(155,482)		(156,791)		15.2	%	18.9	%
Net loans	13,237,583		11,552,635		11,627,674		11,568,648		11,604,987		14.6	%	14.1	%
Premises and equipment	204,760		198,251		197,741		197,968		197,965		3.3	%	3.4	%
Operating leases	214,003		214,667		217,100		213,648		209,119		(0.3)	%	2.3	%
Goodwill	1,099,524		1,007,656		1,007,656		1,007,656		1,007,656		9.1	%	9.1	%
Other intangibles	118,832		73,797		75,458		77,002		79,291		61.0	%	49.9	%

Accrued interest and other assets	1,301,792		1,134,985		1,119,884		1,089,983		1,178,242		14.7	%	10.5	%
Total Assets	$	21,129,379	$	18,554,506	$	18,634,255	$	18,455,067	$	18,570,261	13.9	%	13.8	%

LIABILITIES
Deposits
Interest-bearing demand	$	3,360,613	$	2,983,132	$	3,057,232	$	3,004,601	$	3,095,724	12.7	%	8.6	%
Savings	5,973,532		5,029,097		4,979,124		4,886,613		4,948,768		18.8	%	20.7	%
Time	3,622,227		3,293,707		3,201,711		3,144,440		3,152,265		10.0	%	14.9	%
Total interest-bearing deposits	12,956,372		11,305,936		11,238,067		11,035,654		11,196,757		14.6	%	15.7	%
Noninterest-bearing	3,465,470		3,127,512		3,131,926		3,161,302		3,132,381		10.8	%	10.6	%
Total deposits	16,421,842		14,433,448		14,369,993		14,196,956		14,329,138		13.8	%	14.6	%


FHLB short-term borrowings	675,000		550,000		680,000		735,000		625,000		22.7	%	8.0	%
Other	332		45,167		4,699		64,792		130,452		(99.3)	%	(99.7)	%
Total short-term borrowings	675,332		595,167		684,699		799,792		755,452		13.5	%	(10.6)	%
Long-term debt	514,052		221,823		344,955		345,878		347,509		131.7	%	47.9	%
Total borrowed funds	1,189,384		816,990		1,029,654		1,145,670		1,102,961		45.6	%	7.8	%
Accrued interest and other liabilities	748,937		672,213		676,453		611,206		700,121		11.4	%	7.0	%
Total Liabilities	18,360,163		15,922,651		16,076,100		15,953,832		16,132,220		15.3	%	13.8	%

SHAREHOLDERS' EQUITY
Common stock	1,647,618		1,641,315		1,638,796		1,637,041		1,642,055		0.4	%	0.3	%
Retained earnings	1,437,286		1,399,577		1,351,674		1,304,636		1,276,329		2.7	%	12.6	%
Accumulated other comprehensive income (loss)	(189,942)		(223,000)		(246,384)		(253,888)		(289,799)		(14.8)	%	(34.5)	%
Treasury stock, at cost	(125,746)		(186,037)		(185,931)		(186,554)		(190,544)		(32.4)	%	(34.0)	%
Total Shareholders' Equity	2,769,216		2,631,855		2,558,155		2,501,235		2,438,041		5.2	%	13.6	%
Total Liabilities and Shareholders' Equity	$	21,129,379	$	18,554,506	$	18,634,255	$	18,455,067	$	18,570,261	13.9	%	13.8	%


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

	Quarterly Averages										Year-to-Date Averages
	Dec. 31,		Sep. 30,		June 30,		Mar. 31,		Dec. 31,		Dec. 31,
	2025		2025		2025		2025		2024		2025		2024
ASSETS
Cash and due from banks	$	178,403	$	165,210	$	174,375	$	164,734	$	182,242	$	170,703	$	185,006

Interest-bearing deposits with other banks	647,347		610,074		542,815		615,812		654,251		604,115		572,763
Investment securities	3,988,846		3,552,014		3,478,921		3,411,593		3,372,539		3,609,272		3,229,577
Loans held for sale	32,425		26,366		25,026		10,212		17,284		23,576		14,967
Loans and leases
Commercial and industrial	4,310,399		3,890,886		3,881,001		3,787,207		3,727,549		3,968,597		3,677,979
Lease financing	617,518		592,510		581,091		585,119		587,110		594,144		532,212
Construction real estate	679,884		711,011		784,028		797,100		826,936		742,597		720,031
Commercial real estate	4,240,042		3,993,549		3,958,730		4,018,211		4,045,347		4,053,079		4,088,127
Residential real estate	1,717,439		1,489,942		1,485,479		1,475,703		1,442,799		1,542,660		1,385,351
Home equity	981,406		919,368		891,761		858,153		837,863		913,028		801,358
Installment	164,013		114,058		117,724		127,192		136,927		130,802		147,321
Credit card	69,141		68,375		68,000		65,830		66,071		67,847		65,880
Total loans	12,779,842		11,779,699		11,767,814		11,714,515		11,670,602		12,012,754		11,418,259
Less:
Allowance for credit losses	(179,275)		(162,417)		(158,170)		(158,206)		(161,477)		(164,569)		(153,126)
Net loans	12,600,567		11,617,282		11,609,644		11,556,309		11,509,125		11,848,185		11,265,133
Premises and equipment	202,956		199,167		198,407		198,998		197,664		199,891		198,278
Operating leases	211,091		217,404		212,684		205,181		202,110		211,622		173,432
Goodwill	1,069,781		1,007,656		1,007,656		1,007,656		1,007,658		1,023,315		1,007,363
Other intangibles	104,184		74,448		76,076		78,220		80,486		83,279		82,940

Accrued interest and other assets	1,220,939		1,096,567		1,093,833		1,119,889		1,050,060		1,132,984		1,062,555
Total Assets	$	20,256,539	$	18,566,188	$	18,419,437	$	18,368,604	$	18,273,419	$	18,906,942	$	17,792,014

LIABILITIES
Deposits
Interest-bearing demand	$	3,276,425	$	3,036,296	$	3,066,986	$	3,090,526	$	3,081,148	$	3,117,845	$	2,945,315
Savings	5,740,651		5,054,563		5,005,526		4,918,004		4,886,784		5,181,597		4,650,554
Time	3,504,872		3,296,789		3,139,182		3,141,103		3,209,078		3,271,555		3,021,558
Total interest-bearing deposits	12,521,948		11,387,648		11,211,694		11,149,633		11,177,010		11,570,997		10,617,427
Noninterest-bearing	3,436,709		3,124,277		3,143,081		3,091,037		3,162,643		3,199,519		3,145,646
Total deposits	15,958,657		14,511,925		14,354,775		14,240,670		14,339,653		14,770,516		13,763,073
Federal funds purchased and securities sold
under agreements to repurchase	2,283		12,434		4,780		2,055		2,282		5,408		4,522
FHLB short-term borrowings	444,511		497,092		532,198		553,667		415,652		506,541		588,987
Other	13,891		21,519		26,226		99,378		93,298		39,968		119,361
Total short-term borrowings	460,685		531,045		563,204		655,100		511,232		551,917		712,870
Long-term debt	387,965		292,301		347,369		346,237		343,851		343,442		341,352
Total borrowed funds	848,650		823,346		910,573		1,001,337		855,083		895,359		1,054,222
Accrued interest and other liabilities	753,651		655,714		638,342		668,812		637,638		679,298		634,663
Total Liabilities	17,560,958		15,990,985		15,903,690		15,910,819		15,832,374		16,345,173		15,451,958

SHAREHOLDERS' EQUITY
Common stock	1,644,923		1,639,986		1,637,782		1,641,016		1,640,280		1,640,935		1,637,343
Retained earnings	1,406,388		1,369,069		1,322,168		1,282,300		1,249,263		1,345,387		1,196,301
Accumulated other comprehensive loss	(209,767)		(247,746)		(257,873)		(275,068)		(257,792)		(247,435)		(301,167)
Treasury stock, at cost	(145,963)		(186,106)		(186,330)		(190,463)		(190,706)		(177,118)		(192,421)
Total Shareholders' Equity	2,695,581		2,575,203		2,515,747		2,457,785		2,441,045		2,561,769		2,340,056
Total Liabilities and Shareholders' Equity	$	20,256,539	$	18,566,188	$	18,419,437	$	18,368,604	$	18,273,419	$	18,906,942	$	17,792,014


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

	Quarterly Averages																				Year-to-Date Averages
	December 31, 2025						September 30, 2025						December 31, 2024						December 31, 2025	December 31, 2024
	Balance		Interest		Yield		Balance		Interest		Yield		Balance		Interest		Yield				Balance		Yield		Balance		Yield
Earning assets
Investments:
Investment securities	$	3,988,846	$	43,334	4.31	%	$	3,552,014	$	38,616	4.31	%	$	3,372,539	$	36,401	4.28	%			$	3,609,272	4.35	%	$	3,229,577	4.20	%
Interest-bearing deposits with other banks	647,347		6,334		3.88	%	610,074		6,773		4.40	%	654,251		7,662		4.65	%			604,115		4.26	%	572,763		5.20	%
Gross loans (1)	12,812,267		215,663		6.68	%	11,806,065		204,865		6.88	%	11,687,886		207,508		7.04	%			12,036,330		6.81	%	11,433,226		7.32	%
Total earning assets	17,448,460		265,331		6.03	%	15,968,153		250,254		6.22	%	15,714,676		251,571		6.35	%			16,249,717		6.17	%	15,235,566		6.58	%

Nonearning assets
Allowance for credit losses	(179,275)						(162,417)						(161,477)								(164,569)				(153,126)
Cash and due from banks	178,403						165,210						182,242								170,703				185,006
Accrued interest and other assets	2,808,951						2,595,242						2,537,978								2,651,091				2,524,568
Total assets	$	20,256,539					$	18,566,188					$	18,273,419							$	18,906,942			$	17,792,014

Interest-bearing liabilities
Deposits:
Interest-bearing demand	$	3,276,425	$	13,818	1.67	%	$	3,036,296	$	14,592	1.91	%	$	3,081,148	$	15,092	1.94	%			$	3,117,845	1.85	%	$	2,945,315	2.07	%
Savings	5,740,651		32,343		2.24	%	5,054,563		30,854		2.42	%	4,886,784		33,924		2.75	%			5,181,597		2.38	%	4,650,554		2.81	%
Time	3,504,872		32,700		3.70	%	3,296,789		32,320		3.89	%	3,209,078		36,425		4.50	%			3,271,555		3.96	%	3,021,558		4.62	%
Total interest-bearing deposits	12,521,948		78,861		2.50	%	11,387,648		77,766		2.71	%	11,177,010		85,441		3.03	%			11,570,997		2.69	%	10,617,427		3.12	%
Borrowed funds
Short-term borrowings	460,685		4,925		4.24	%	531,045		5,979		4.47	%	511,232		6,586		5.11	%			551,917		4.50	%	712,870		5.45	%
Long-term debt	387,965		7,550		7.72	%	292,301		6,023		8.17	%	343,851		5,145		5.94	%			343,442		7.06	%	341,352		5.90	%
Total borrowed funds	848,650		12,475		5.83	%	823,346		12,002		5.78	%	855,083		11,731		5.44	%			895,359		5.48	%	1,054,222		5.60	%
Total interest-bearing liabilities	13,370,598		91,336		2.71	%	12,210,994		89,768		2.92	%	12,032,093		97,172		3.20	%			12,466,356		2.89	%	11,671,649		3.34	%

Noninterest-bearing liabilities
Noninterest-bearing demand deposits	3,436,709						3,124,277						3,162,643								3,199,519				3,145,646
Other liabilities	753,651						655,714						637,638								679,298				634,663
Shareholders' equity	2,695,581						2,575,203						2,441,045								2,561,769				2,340,056
Total liabilities & shareholders' equity	$	20,256,539					$	18,566,188					$	18,273,419							$	18,906,942			$	17,792,014

Net interest income	$	173,995					$	160,486					$	154,399							$	642,046			$	612,010
Net interest spread					3.32	%					3.30	%					3.15	%					3.28	%			3.24	%
Net interest margin					3.96	%					3.99	%					3.91	%					3.95	%			4.02	%

Tax equivalent adjustment					0.02	%					0.03	%					0.03	%					0.03	%			0.03	%
Net interest margin (fully tax equivalent)					3.98	%					4.02	%					3.94	%					3.98	%			4.05	%


(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	$	(28)	$	4,746	$	4,718		$	238	$	6,695	$	6,933		$	4,740	$	16,520	$	21,260
Interest-bearing deposits with other banks	(804)		365		(439)			(1,260)		(68)		(1,328)			(5,396)		1,335		(4,061)
Gross loans (2)	(6,139)		16,937		10,798			(10,771)		18,926		8,155			(58,435)		41,045		(17,390)
Total earning assets	(6,971)		22,048		15,077			(11,793)		25,553		13,760			(59,091)		58,900		(191)

Interest-bearing liabilities
Total interest-bearing deposits	$	(6,049)	$	7,144	$	1,095		$	(15,050)	$	8,470	$	(6,580)		$	(45,949)	$	25,609	$	(20,340)
Borrowed funds
Short-term borrowings	(302)		(752)		(1,054)			(1,121)		(540)		(1,661)			(6,769)		(7,245)		(14,014)
Long-term debt	(335)		1,862		1,527			1,547		858		2,405			3,979		148		4,127
Total borrowed funds	(637)		1,110		473			426		318		744			(2,790)		(7,097)		(9,887)
Total interest-bearing liabilities	(6,686)		8,254		1,568			(14,624)		8,788		(5,836)			(48,739)		18,512		(30,227)
Net interest income (1)	$	(285)	$	13,794	$	13,509		$	2,831	$	16,765	$	19,596		$	(10,352)	$	40,388	$	30,036


(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,															Full Year,
	Dec. 31,			Sep. 30,			June 30,			Mar. 31,			Dec. 31,			Dec. 31,			Dec. 31,
	2025			2025			2025			2025			2024			2025			2024
ALLOWANCE FOR CREDIT LOSS ACTIVITY
Balance at beginning of period	$	161,916		$	158,522		$	155,482		$	156,791		$	158,831		$	156,791		$	141,433
Initial allowance on purchased loans	23,652			0			0			0			0			23,652			0
Provision for credit losses	9,688			8,612			9,084			9,141			9,705			36,525			49,211
Gross charge-offs
Commercial and industrial	6,636			2,165			4,996			8,178			4,333			21,975			14,648
Lease financing	918			298			606			1,454			2,831			3,276			3,392
Construction real estate	0			245			0			0			0			245			0
Commercial real estate	433			3,105			0			0			5,051			3,538			10,633
Residential real estate	151			0			16			0			12			167			143
Home equity	95			92			100			86			210			373			447
Installment	1,197			1,194			1,120			1,321			1,680			4,832			7,460
Credit card	729			577			489			474			492			2,269			2,586
Total gross charge-offs	10,159			7,676			7,327			11,513			14,609			36,675			39,309
Recoveries
Commercial and industrial	264			202			290			195			1,779			951			2,611
Lease financing	201			291			11			29			17			532			88
Construction real estate	0			0			0			0			0			0			0
Commercial real estate	5			1,138			70			24			19			1,237			219
Residential real estate	13			58			42			24			23			137			106
Home equity	117			94			74			144			222			429			660
Installment	682			609			716			563			499			2,570			1,284
Credit card	108			66			80			84			305			338			488
Total recoveries	1,390			2,458			1,283			1,063			2,864			6,194			5,456
Total net charge-offs	8,769			5,218			6,044			10,450			11,745			30,481			33,853
Ending allowance for credit losses	$	186,487		$	161,916		$	158,522		$	155,482		$	156,791		$	186,487		$	156,791

NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)
Commercial and industrial	0.59		%	0.20		%	0.49		%	0.85		%	0.27		%	0.53		%	0.33		%
Lease financing	0.46		%	0.00		%	0.41		%	0.99		%	1.91		%	0.46		%	0.62		%
Construction real estate	0.00		%	0.14		%	0.00		%	0.00		%	0.00		%	0.03		%	0.00		%
Commercial real estate	0.04		%	0.20		%	(0.01)		%	0.00		%	0.49		%	0.06		%	0.25		%
Residential real estate	0.03		%	(0.02)		%	(0.01)		%	(0.01)		%	0.00		%	0.00		%	0.00		%
Home equity	(0.01)		%	0.00		%	0.01		%	(0.03)		%	(0.01)		%	(0.01)		%	(0.03)		%
Installment	1.25		%	2.03		%	1.38		%	2.42		%	3.43		%	1.73		%	4.19		%
Credit card	3.56		%	2.97		%	2.41		%	2.40		%	1.13		%	2.85		%	3.18		%

Total net charge-offs	0.27		%	0.18		%	0.21		%	0.36		%	0.40		%	0.25		%	0.30		%

COMPONENTS OF NONACCRUAL LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans
Commercial and industrial	$	27,461		$	23,832		$	24,489		$	7,649		$	6,641		$	27,461		$	6,641
Lease financing	5,660			5,885			6,243			6,487			6,227			5,660			6,227
Construction real estate	1,120			1,120			1,365			0			0			1,120			0
Commercial real estate	45,590			24,443			23,905			25,736			32,303			45,590			32,303
Residential real estate	18,302			16,452			16,995			16,044			16,700			18,302			16,700
Home equity	2,927			3,567			3,226			2,920			3,418			2,927			3,418
Installment	748			652			701			719			684			748			684
Total nonaccrual loans	101,808			75,951			76,924			59,555			65,973			101,808			65,973


Other real estate owned (OREO)	184			111			204			213			64			184			64
Total nonperforming assets	101,992			76,062			77,128			59,768			66,037			101,992			66,037
Accruing loans past due 90 days or more	411			592			714			228			361			411			361
Total underperforming assets	$	102,403		$	76,654		$	77,842		$	59,996		$	66,398		$	102,403		$	66,398
Total classified assets	$	235,451		$	218,794		$	214,346		$	213,351		$	224,084		$	235,451		$	224,084

CREDIT QUALITY RATIOS
Allowance for credit losses to
Nonaccrual loans	183.18		%	213.18		%	206.08		%	261.07		%	237.66		%	183.18		%	237.66		%
Total ending loans	1.39		%	1.38		%	1.34		%	1.33		%	1.33		%	1.39		%	1.33		%
Nonaccrual loans to total loans	0.76		%	0.65		%	0.65		%	0.51		%	0.56		%	0.76		%	0.56		%
Nonperforming assets to
Ending loans, plus OREO	0.76		%	0.65		%	0.65		%	0.51		%	0.56		%	0.76		%	0.56		%
Total assets	0.48		%	0.41		%	0.41		%	0.32		%	0.36		%	0.48		%	0.36		%



Classified assets to total assets	1.11		%	1.18		%	1.15		%	1.16		%	1.21		%	1.11		%	1.21		%


FIRST FINANCIAL BANCORP.
CAPITAL ADEQUACY
(Dollars in thousands, except per share data)
(Unaudited)
	Three Months Ended,															Twelve months ended,
	Dec. 31,			Sep. 30,			June 30,			Mar. 31,			Dec. 31,			Dec. 31,			Dec. 31,
	2025			2025			2025			2025			2024			2025			2024
PER COMMON SHARE
Market Price
High	$	26.98		$	26.79		$	25.19		$	29.04		$	30.34		$	29.04		$	30.34
Low	$	23.26		$	23.55		$	22.05		$	24.25		$	23.98		$	22.05		$	20.79
Close	$	25.02		$	25.25		$	24.26		$	24.98		$	26.88		$	25.02		$	26.88

Average shares outstanding - basic	96,724,148			94,889,341			94,860,428			94,645,787			94,486,838			95,284,550			94,404,617
Average shares outstanding - diluted	97,593,800			95,753,798			95,741,696			95,524,262			95,487,564			96,157,964			95,405,719
Ending shares outstanding	98,521,726			95,757,250			95,760,617			95,730,353			95,494,840			98,521,726			95,494,840

Total shareholders' equity	$	2,769,216		$	2,631,855		$	2,558,155		$	2,501,235		$	2,438,041		$	2,769,216		$	2,438,041

REGULATORY CAPITAL	Preliminary															Preliminary
Common equity tier 1 capital	$	1,798,266		$	1,828,843		$	1,776,038		$	1,724,134		$	1,709,422		$	1,798,266		$	1,709,422
Common equity tier 1 capital ratio	11.32		%	12.91		%	12.57		%	12.29		%	12.16		%	11.32		%	12.16		%
Tier 1 capital	$	1,843,672		$	1,874,191		$	1,821,316		$	1,769,357		$	1,754,584		$	1,843,672		$	1,754,584
Tier 1 ratio	11.60		%	13.23		%	12.89		%	12.61		%	12.48		%	11.60		%	12.48		%
Total capital	$	2,457,377		$	2,170,546		$	2,116,180		$	2,090,211		$	2,057,877		$	2,457,377		$	2,057,877
Total capital ratio	15.46		%	15.32		%	14.98		%	14.90		%	14.64		%	15.46		%	14.64		%
Total capital in excess of minimum requirement	$	788,889		$	683,018		$	632,563		$	617,347		$	581,659		$	788,889		$	581,659
Total risk-weighted assets	$	15,890,363		$	14,166,935		$	14,129,683		$	14,027,274		$	14,059,215		$	15,890,363		$	14,059,215
Leverage ratio	9.53		%	10.50		%	10.28		%	10.01		%	9.98		%	9.53		%	9.98		%

OTHER CAPITAL RATIOS
Ending shareholders' equity to ending assets	13.11		%	14.18		%	13.73		%	13.55		%	13.13		%	13.11		%	13.13		%
Ending tangible shareholders' equity to ending tangible assets (1)	7.79		%	8.87		%	8.40		%	8.16		%	7.73		%	7.79		%	7.73		%
Average shareholders' equity to average assets	13.31		%	13.87		%	13.66		%	13.38		%	13.36		%	13.55		%	13.15		%
Average tangible shareholders' equity to average tangible assets (1)	7.97		%	8.54		%	8.26		%	7.94		%	7.87		%	8.17		%	7.48		%

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