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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 8-K
 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): January 28, 2026
 
FIRST FINANCIAL BANCORP.
(Exact name of registrant as specified in its charter)
 
Ohio001-34762 31-1042001
(State or other jurisdiction of
incorporation or organization)		(Commission File Number) (I.R.S. employer
identification number)
255 East Fifth Street, Suite 900Cincinnati,Ohio45202
(Address of principal executive offices)(Zip Code)
 
Registrant's telephone number, including area code: (877) 322-9530
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbolName of exchange on which registered
Common stock, No par valueFFBCThe NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☐



Item 2.02    Results of Operations and Financial Condition.

On January 28, 2026, First Financial Bancorp. (the "Company") issued its earnings press release that included its results of operations and financial condition for the first twelve months and fourth quarter of 2025. A copy of the earnings press release is attached as Exhibit 99.1.
The Company also provided electronic presentation slides that will be used in connection with the earnings conference call. A copy of the electronic presentation slides is included in this Report as Exhibit 99.2 and will be available on the Company's website, www.bankatfirst.com.

The information set forth in this Current Report on Form 8-K (including the information in Exhibits 99.1 and 99.2 attached hereto) is being furnished to the Securities and Exchange Commission and is not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act")    , or otherwise subject to the liabilities under the Exchange Act. Such information shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.


Item 9.01    Financial Statements and Exhibits.

    (d)    Exhibits:
        
The following exhibits shall not be deemed to be "filed" for purposes of the Exchange Act:
    Exhibit No.    Description

    99.1 First Financial Bancorp. Press Release dated January 28, 2026
    99.2 First Financial Bancorp. presentation materials
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)







SIGNATURES


    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                        FIRST FINANCIAL BANCORP.

By: /s/ James M. Anderson
James M. Anderson
Executive Vice President and Chief Financial Officer
Date:January 28, 2026

                    




                                                Exhibit 99.1
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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
[email protected]            [email protected]    



contentsheader0215a23.jpg
Selected Financial Information
December 31, 2025
(unaudited)

ContentsPage
Consolidated Financial Highlights2
Consolidated Statements of Income3
Consolidated Quarterly Statements of Income4-5
Consolidated Statements of Condition6
Average Consolidated Statements of Condition7
Net Interest Margin Rate / Volume Analysis8-9
Credit Quality10
Capital Adequacy11



    
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,
2025202520252025202420252024
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 assets1.22 %1.54 %1.52 %1.13 %1.41 %1.35 %1.29 %
Return on average shareholders' equity9.18 %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 margin3.96 %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 assets13.11 %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 assets13.31 %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 securities3,988,846 3,552,014 3,478,921 3,411,593 3,372,539 3,609,272 3,229,577 
Interest-bearing deposits with other banks647,347 610,074 542,815 615,812 654,251 604,115 572,763 
  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 deposits12,521,948 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 loans1.39 %1.38 %1.34 %1.33 %1.33 %1.39 %1.33 %
Allowance to nonaccrual loans183.18 %213.18 %206.08 %261.07 %237.66 %183.18 %237.66 %
Nonaccrual loans to total loans0.76 %0.65 %0.65 %0.51 %0.56 %0.76 %0.56 %
Nonperforming assets to ending loans, plus OREO0.76 %0.65 %0.65 %0.51 %0.56 %0.76 %0.56 %
Nonperforming assets to total assets0.48 %0.41 %0.41 %0.32 %0.36 %0.48 %0.36 %
Classified assets to total assets1.11 %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 %
(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) 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.
2

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,
20252024% Change20252024% Change
Interest income
  Loans and leases, including fees$215,663 $207,508 3.9 %$819,151 $836,541 (2.1)%
  Investment securities
     Taxable40,971 33,978 20.6 %148,036 124,936 18.5 %
     Tax-exempt2,363 2,423 (2.5)%8,995 10,835 (17.0)%
        Total investment securities interest43,334 36,401 19.0 %157,031 135,771 15.7 %
  Other earning assets6,334 7,662 (17.3)%25,722 29,783 (13.6)%
       Total interest income265,331 251,571 5.5 %1,001,904 1,002,095 0.0 %
Interest expense
  Deposits78,861 85,441 (7.7)%310,752 331,092 (6.1)%
  Short-term borrowings4,925 6,586 (25.2)%24,842 38,856 (36.1)%
  Long-term borrowings7,550 5,145 46.7 %24,264 20,137 20.5 %
      Total interest expense91,336 97,172 (6.0)%359,858 390,085 (7.7)%
      Net interest income173,995 154,399 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 losses163,895 144,967 13.1 %604,379 564,351 7.1 %
Noninterest income
  Service charges on deposit accounts8,308 7,632 8.9 %31,366 29,279 7.1 %
  Wealth management fees9,288 7,962 16.7 %32,563 28,720 13.4 %
  Bankcard income3,590 3,659 (1.9)%14,226 14,399 (1.2)%
  Client derivative fees2,681 1,528 75.5 %7,802 4,701 66.0 %
  Foreign exchange income22,696 16,794 35.1 %65,666 56,064 17.1 %
  Leasing business income19,523 19,413 0.6 %80,020 67,641 18.3 %
  Net gains from sales of loans7,041 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)%
  Other4,216 8,088 (47.9)%23,234 27,421 (15.3)%
      Total noninterest income64,767 69,854 (7.3)%257,438 223,568 15.1 %
Noninterest expenses
  Salaries and employee benefits85,123 80,314 6.0 %315,885 304,389 3.8 %
  Net occupancy6,315 5,415 16.6 %24,182 23,050 4.9 %
  Furniture and equipment3,940 3,476 13.3 %14,776 14,427 2.4 %
  Data processing10,465 9,139 14.5 %37,835 35,178 7.6 %
  Marketing3,056 2,204 38.7 %10,170 9,026 12.7 %
  Communication825 767 7.6 %3,013 3,229 (6.7)%
  Professional services6,231 6,631 (6.0)%14,833 14,087 5.3 %
  Amortization of tax credit investments800 14,303 (94.4)%1,135 14,397 (92.1)%
  State intangible tax1,679 (104)N/M5,604 2,524 122.0 %
  FDIC assessments2,923 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 expense13,837 12,536 10.4 %53,705 44,317 21.2 %
  Other10,410 8,095 28.6 %37,202 34,275 8.5 %
      Total noninterest expenses149,531 147,907 1.1 %540,547 519,595 4.0 %
Income before income taxes79,131 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 assets1.22 %1.41 %1.35 %1.29 %
Return on average shareholders' equity9.18 %10.57 %9.98 %9.78 %
Interest income$265,331 $251,571 5.5 %$1,001,904 $1,002,095 0.0 %
Tax equivalent adjustment1,227 1,274 (3.7)%4,934 5,589 (11.7)%
   Interest income - tax equivalent266,558 252,845 5.4 %1,006,838 1,007,684 (0.1)%
Interest expense91,336 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 margin3.96 %3.91 %3.95 %4.02 %
Net interest margin (fully tax equivalent) (1)
3.98 %3.94 %3.98 %4.05 %
Full-time equivalent employees2,164 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.
3

FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
2025
FourthThirdSecondFirstYear to% Change
QuarterQuarterQuarterQuarterDateLinked Qtr.
Interest income
  Loans and leases, including fees$215,663 $204,865 $201,460 $197,163 $819,151 5.3 %
  Investment securities
     Taxable40,971 36,421 36,243 34,401 148,036 12.5 %
     Tax-exempt2,363 2,195 2,233 2,204 8,995 7.7 %
        Total investment securities interest43,334 38,616 38,476 36,605 157,031 12.2 %
  Other earning assets6,334 6,773 5,964 6,651 25,722 (6.5)%
       Total interest income265,331 250,254 245,900 240,419 1,001,904 6.0 %
Interest expense
  Deposits78,861 77,766 75,484 78,641 310,752 1.4 %
  Short-term borrowings4,925 5,979 6,393 7,545 24,842 (17.6)%
  Long-term borrowings7,550 6,023 5,754 4,937 24,264 25.4 %
      Total interest expense91,336 89,768 87,631 91,123 359,858 1.7 %
      Net interest income173,995 160,486 158,269 149,296 642,046 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 losses163,895 151,421 148,467 140,596 604,379 8.2 %
Noninterest income
  Service charges on deposit accounts8,308 7,829 7,766 7,463 31,366 6.1 %
  Wealth management fees9,288 7,351 7,787 8,137 32,563 26.4 %
  Bankcard income3,590 3,589 3,737 3,310 14,226 0.0 %
  Client derivative fees2,681 1,876 1,674 1,571 7,802 42.9 %
  Foreign exchange income22,696 16,666 13,760 12,544 65,666 36.2 %
  Leasing business income19,523 20,997 20,797 18,703 80,020 (7.0)%
  Net gains from sales of loans7,041 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
  Other4,216 8,424 5,612 4,982 23,234 (50.0)%
      Total noninterest income64,767 73,525 68,063 51,083 257,438 (11.9)%
Noninterest expenses
  Salaries and employee benefits85,123 80,607 74,917 75,238 315,885 5.6 %
  Net occupancy6,315 6,003 5,845 6,019 24,182 5.2 %
  Furniture and equipment3,940 3,582 3,441 3,813 14,776 10.0 %
  Data processing10,465 9,591 9,020 8,759 37,835 9.1 %
  Marketing3,056 2,359 2,737 2,018 10,170 29.5 %
  Communication825 695 681 812 3,013 18.7 %
  Professional services6,231 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 tax1,679 1,531 1,517 877 5,604 9.7 %
  FDIC assessments2,923 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 expense13,837 13,911 13,155 12,802 53,705 (0.5)%
  Other10,410 8,594 8,729 9,469 37,202 21.1 %
      Total noninterest expenses149,531 134,269 128,671 128,076 540,547 11.4 %
Income before income taxes79,131 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 assets1.22 %1.54 %1.52 %1.13 %1.35 %
Return on average shareholders' equity9.18 %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 adjustment1,227 1,248 1,246 1,213 4,934 (1.7)%
   Interest income - tax equivalent266,558 251,502 247,146 241,632 1,006,838 6.0 %
Interest expense91,336 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 margin3.96 %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 employees2,164 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.
4

FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
2024
FourthThirdSecondFirstFull
QuarterQuarterQuarterQuarterYear
Interest income
  Loans and leases, including fees$207,508 $215,433 $211,760 $201,840 $836,541 
  Investment securities
     Taxable33,978 32,367 30,295 28,296 124,936 
     Tax-exempt2,423 2,616 2,704 3,092 10,835 
        Total investment securities interest36,401 34,983 32,999 31,388 135,771 
  Other earning assets7,662 6,703 7,960 7,458 29,783 
       Total interest income251,571 257,119 252,719 240,686 1,002,095 
Interest expense
  Deposits85,441 86,554 83,022 76,075 331,092 
  Short-term borrowings6,586 9,932 11,395 10,943 38,856 
  Long-term borrowings5,145 5,073 4,991 4,928 20,137 
      Total interest expense97,172 101,559 99,408 91,946 390,085 
      Net interest income154,399 155,560 153,311 148,740 612,010 
  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 losses144,967 144,936 136,868 137,580 564,351 
Noninterest income
  Service charges on deposit accounts7,632 7,547 7,188 6,912 29,279 
  Wealth management fees7,962 6,910 7,172 6,676 28,720 
  Bankcard income3,659 3,698 3,900 3,142 14,399 
  Client derivative fees1,528 1,160 763 1,250 4,701 
  Foreign exchange income16,794 12,048 16,787 10,435 56,064 
  Leasing business income19,413 16,811 16,828 14,589 67,641 
  Net gains from sales of loans4,634 5,021 4,479 3,784 17,918 
  Net gain (loss) on investment securities144 (17,468)(64)(5,187)(22,575)
  Other8,088 9,974 4,448 4,911 27,421 
      Total noninterest income69,854 45,701 61,501 46,512 223,568 
Noninterest expenses
  Salaries and employee benefits80,314 74,813 75,225 74,037 304,389 
  Net occupancy5,415 5,919 5,793 5,923 23,050 
  Furniture and equipment3,476 3,617 3,646 3,688 14,427 
  Data processing9,139 8,857 8,877 8,305 35,178 
  Marketing2,204 2,255 2,605 1,962 9,026 
  Communication767 851 816 795 3,229 
  Professional services6,631 2,303 2,885 2,268 14,087 
  Amortization of tax credit investments14,303 32 31 31 14,397 
  State intangible tax(104)876 875 877 2,524 
  FDIC assessments2,736 3,036 2,657 2,780 11,209 
  Intangible amortization 2,395 2,395 2,396 2,301 9,487 
  Leasing business expense12,536 11,899 10,128 9,754 44,317 
  Other8,095 8,906 7,640 9,634 34,275 
      Total noninterest expenses147,907 125,759 123,574 122,355 519,595 
Income before income taxes66,914 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 assets1.41 %1.17 %1.38 %1.18 %1.29 %
Return on average shareholders' equity10.57 %8.80 %10.72 %9.00 %9.78 %
Interest income$251,571 $257,119 $252,719 $240,686 $1,002,095 
Tax equivalent adjustment1,274 1,362 1,418 1,535 5,589 
   Interest income - tax equivalent252,845 258,481 254,137 242,221 1,007,684 
Interest expense97,172 101,559 99,408 91,946 390,085 
   Net interest income - tax equivalent$155,673 $156,922 $154,729 $150,275 $617,599 
Net interest margin3.91 %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 employees2,064 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.
5

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
Dec. 31,Sep. 30,June 30,Mar. 31,Dec. 31,% Change% Change
20252025202520252024Linked 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 banks597,338 565,080 570,173 633,349 730,228 5.7 %(18.2)%
     Investment securities available-for-sale3,971,932 3,422,595 3,386,562 3,260,981 3,183,776 16.1 %24.8 %
     Investment securities held-to-maturity58,545 71,595 72,994 76,469 76,960 (18.2)%(23.9)%
     Other investments129,564 117,120 122,322 120,826 114,598 10.6 %13.1 %
     Loans held for sale16,953 21,466 26,504 17,927 13,181 (21.0)%28.6 %
     Loans and leases
       Commercial and industrial4,632,241 3,838,630 3,927,771 3,832,350 3,815,858 20.7 %21.4 %
       Lease financing638,527 596,734 587,176 573,608 598,045 7.0 %6.8 %
       Construction real estate677,339 627,960 732,777 824,775 779,446 7.9 %(13.1)%
       Commercial real estate4,384,556 4,048,370 3,961,513 3,956,880 4,061,744 8.3 %7.9 %
       Residential real estate1,832,184 1,494,464 1,492,688 1,479,704 1,462,284 22.6 %25.3 %
       Home equity1,005,204 935,975 903,299 872,502 849,039 7.4 %18.4 %
       Installment188,694 109,764 116,598 119,672 133,051 71.9 %41.8 %
       Credit card65,325 62,654 64,374 64,639 62,311 4.3 %4.8 %
          Total loans13,424,070 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 equipment204,760 198,251 197,741 197,968 197,965 3.3 %3.4 %
     Operating leases214,003 214,667 217,100 213,648 209,119 (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 intangibles118,832 73,797 75,458 77,002 79,291 61.0 %49.9 %
     Accrued interest and other assets1,301,792 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 %
       Savings5,973,532 5,029,097 4,979,124 4,886,613 4,948,768 18.8 %20.7 %
       Time3,622,227 3,293,707 3,201,711 3,144,440 3,152,265 10.0 %14.9 %
          Total interest-bearing deposits12,956,372 11,305,936 11,238,067 11,035,654 11,196,757 14.6 %15.7 %
       Noninterest-bearing3,465,470 3,127,512 3,131,926 3,161,302 3,132,381 10.8 %10.6 %
          Total deposits16,421,842 14,433,448 14,369,993 14,196,956 14,329,138 13.8 %14.6 %
     FHLB short-term borrowings675,000 550,000 680,000 735,000 625,000 22.7 %8.0 %
     Other332 45,167 4,699 64,792 130,452 (99.3)%(99.7)%
          Total short-term borrowings675,332 595,167 684,699 799,792 755,452 13.5 %(10.6)%
     Long-term debt514,052 221,823 344,955 345,878 347,509 131.7 %47.9 %
          Total borrowed funds1,189,384 816,990 1,029,654 1,145,670 1,102,961 45.6 %7.8 %
     Accrued interest and other liabilities748,937 672,213 676,453 611,206 700,121 11.4 %7.0 %
       Total Liabilities18,360,163 15,922,651 16,076,100 15,953,832 16,132,220 15.3 %13.8 %
SHAREHOLDERS' EQUITY
     Common stock1,647,618 1,641,315 1,638,796 1,637,041 1,642,055 0.4 %0.3 %
     Retained earnings1,437,286 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' Equity2,769,216 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 %

6

FIRST FINANCIAL BANCORP.
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
Quarterly AveragesYear-to-Date Averages
Dec. 31,Sep. 30,June 30,Mar. 31,Dec. 31,Dec. 31,
2025202520252025202420252024
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 banks647,347 610,074 542,815 615,812 654,251 604,115 572,763 
     Investment securities3,988,846 3,552,014 3,478,921 3,411,593 3,372,539 3,609,272 3,229,577 
     Loans held for sale32,425 26,366 25,026 10,212 17,284 23,576 14,967 
     Loans and leases
       Commercial and industrial4,310,399 3,890,886 3,881,001 3,787,207 3,727,549 3,968,597 3,677,979 
       Lease financing617,518 592,510 581,091 585,119 587,110 594,144 532,212 
       Construction real estate679,884 711,011 784,028 797,100 826,936 742,597 720,031 
       Commercial real estate4,240,042 3,993,549 3,958,730 4,018,211 4,045,347 4,053,079 4,088,127 
       Residential real estate1,717,439 1,489,942 1,485,479 1,475,703 1,442,799 1,542,660 1,385,351 
       Home equity981,406 919,368 891,761 858,153 837,863 913,028 801,358 
       Installment164,013 114,058 117,724 127,192 136,927 130,802 147,321 
       Credit card69,141 68,375 68,000 65,830 66,071 67,847 65,880 
          Total loans12,779,842 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 equipment202,956 199,167 198,407 198,998 197,664 199,891 198,278 
     Operating leases211,091 217,404 212,684 205,181 202,110 211,622 173,432 
     Goodwill 1,069,781 1,007,656 1,007,656 1,007,656 1,007,658 1,023,315 1,007,363 
     Other intangibles104,184 74,448 76,076 78,220 80,486 83,279 82,940 
     Accrued interest and other assets1,220,939 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 
       Savings5,740,651 5,054,563 5,005,526 4,918,004 4,886,784 5,181,597 4,650,554 
       Time3,504,872 3,296,789 3,139,182 3,141,103 3,209,078 3,271,555 3,021,558 
          Total interest-bearing deposits12,521,948 11,387,648 11,211,694 11,149,633 11,177,010 11,570,997 10,617,427 
       Noninterest-bearing3,436,709 3,124,277 3,143,081 3,091,037 3,162,643 3,199,519 3,145,646 
          Total deposits15,958,657 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 repurchase2,283 12,434 4,780 2,055 2,282 5,408 4,522 
     FHLB short-term borrowings444,511 497,092 532,198 553,667 415,652 506,541 588,987 
     Other 13,891 21,519 26,226 99,378 93,298 39,968 119,361 
          Total short-term borrowings460,685 531,045 563,204 655,100 511,232 551,917 712,870 
     Long-term debt387,965 292,301 347,369 346,237 343,851 343,442 341,352 
       Total borrowed funds848,650 823,346 910,573 1,001,337 855,083 895,359 1,054,222 
     Accrued interest and other liabilities753,651 655,714 638,342 668,812 637,638 679,298 634,663 
       Total Liabilities17,560,958 15,990,985 15,903,690 15,910,819 15,832,374 16,345,173 15,451,958 
SHAREHOLDERS' EQUITY
     Common stock1,644,923 1,639,986 1,637,782 1,641,016 1,640,280 1,640,935 1,637,343 
     Retained earnings1,406,388 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' Equity2,695,581 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 

7

FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE/VOLUME ANALYSIS
(Dollars in thousands)
(Unaudited)
 Quarterly AveragesYear-to-Date Averages
December 31, 2025September 30, 2025December 31, 2024December 31, 2025December 31, 2024
BalanceInterestYieldBalanceInterestYieldBalanceInterestYieldBalanceYieldBalanceYield
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 banks647,347 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 assets17,448,460 265,331 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 banks178,403 165,210 182,242 170,703 185,006 
    Accrued interest and other assets2,808,951 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 %
      Savings5,740,651 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 %
      Time3,504,872 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 deposits12,521,948 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 borrowings460,685 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 debt387,965 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 funds848,650 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 liabilities13,370,598 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 deposits3,436,709 3,124,277 3,162,643 3,199,519 3,145,646 
    Other liabilities753,651 655,714 637,638 679,298 634,663 
    Shareholders' equity2,695,581 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 adjustment0.02 %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.
8

FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE/VOLUME ANALYSIS (1)
(Dollars in thousands)
(Unaudited)
 Linked Qtr. Income Variance Comparable Qtr. Income VarianceYear-to-Date Income Variance
RateVolumeTotalRateVolumeTotalRateVolumeTotal
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.


9

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,
2025202520252025202420252024
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 loans23,652 0 0 0 0 23,652 0 
  Provision for credit losses9,688 8,612 9,084 9,141 9,705 36,525 49,211 
  Gross charge-offs
    Commercial and industrial6,636 2,165 4,996 8,178 4,333 21,975 14,648 
    Lease financing918 298 606 1,454 2,831 3,276 3,392 
    Construction real estate0 245 0 0 0 245 0 
    Commercial real estate433 3,105 0 0 5,051 3,538 10,633 
    Residential real estate151 0 16 0 12 167 143 
    Home equity95 92 100 86 210 373 447 
    Installment1,197 1,194 1,120 1,321 1,680 4,832 7,460 
    Credit card729 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 industrial264 202 290 195 1,779 951 2,611 
    Lease financing201 291 11 29 17 532 88 
    Construction real estate0 0 0 0 0 0 0 
    Commercial real estate5 1,138 70 24 19 1,237 219 
    Residential real estate13 58 42 24 23 137 106 
    Home equity117 94 74 144 222 429 660 
    Installment682 609 716 563 499 2,570 1,284 
    Credit card108 66 80 84 305 338 488 
      Total recoveries1,390 2,458 1,283 1,063 2,864 6,194 5,456 
  Total net charge-offs8,769 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 industrial0.59 %0.20 %0.49 %0.85 %0.27 %0.53 %0.33 %
  Lease financing0.46 %0.00 %0.41 %0.99 %1.91 %0.46 %0.62 %
  Construction real estate0.00 %0.14 %0.00 %0.00 %0.00 %0.03 %0.00 %
  Commercial real estate0.04 %0.20 %(0.01)%0.00 %0.49 %0.06 %0.25 %
  Residential real estate0.03 %(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)%
  Installment1.25 %2.03 %1.38 %2.42 %3.43 %1.73 %4.19 %
  Credit card3.56 %2.97 %2.41 %2.40 %1.13 %2.85 %3.18 %
     Total net charge-offs0.27 %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 financing5,660 5,885 6,243 6,487 6,227 5,660 6,227 
    Construction real estate1,120 1,120 1,365 0 0 1,120 0 
    Commercial real estate45,590 24,443 23,905 25,736 32,303 45,590 32,303 
    Residential real estate18,302 16,452 16,995 16,044 16,700 18,302 16,700 
    Home equity2,927 3,567 3,226 2,920 3,418 2,927 3,418 
    Installment748 652 701 719 684 748 684 
      Total nonaccrual loans101,808 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 assets101,992 76,062 77,128 59,768 66,037 101,992 66,037 
  Accruing loans past due 90 days or more411 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 loans183.18 %213.18 %206.08 %261.07 %237.66 %183.18 %237.66 %
     Total ending loans1.39 %1.38 %1.34 %1.33 %1.33 %1.39 %1.33 %
Nonaccrual loans to total loans0.76 %0.65 %0.65 %0.51 %0.56 %0.76 %0.56 %
Nonperforming assets to
     Ending loans, plus OREO0.76 %0.65 %0.65 %0.51 %0.56 %0.76 %0.56 %
     Total assets0.48 %0.41 %0.41 %0.32 %0.36 %0.48 %0.36 %
Classified assets to total assets1.11 %1.18 %1.15 %1.16 %1.21 %1.11 %1.21 %
10

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,
2025202520252025202420252024
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 - basic96,724,148 94,889,341 94,860,428 94,645,787 94,486,838 95,284,550 94,404,617 
Average shares outstanding - diluted97,593,800 95,753,798 95,741,696 95,524,262 95,487,564 96,157,964 95,405,719 
Ending shares outstanding98,521,726 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 CAPITALPreliminaryPreliminary
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 ratio11.32 %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 ratio11.60 %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 ratio15.46 %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 ratio9.53 %10.50 %10.28 %10.01 %9.98 %9.53 %9.98 %
OTHER CAPITAL RATIOS
Ending shareholders' equity to ending assets13.11 %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 assets13.31 %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 repurchased0 0 0 0 0 0 0 
Average share repurchase priceN/AN/AN/AN/AN/AN/AN/A
Total cost of shares repurchasedN/AN/AN/AN/AN/AN/AN/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
11
earnings presentation • Fourth Quarter 2025 Exhibit 99.2

 
forward looking statements disclosure 2 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; (iv) 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;

 
forward looking statements disclosure 3 • 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.

 
4Q 2025 results 141st Consecutive Quarter of Profitability 4 • EOP assets increased $2.6 billion compared to the linked quarter to $21.1 billion; $2.1 billion from Westfield • EOP loans increased $1.7 billion compared to the linked quarter to $13.4 billion; $1.6 billion from Westfield • Average deposits increased $1.4 billion compared to the linked quarter to $16.0 billion • EOP investment securities increased $536.3 million compared to the linked quarter • $300 million of 6.375% subordinated debt issued Balance Sheet Profitability Asset Quality Income Statement Capital • Noninterest income – $64.8 million; $77.3 million as adjusted1 • Noninterest expense – $149.5 million; $141.9 million as adjusted1 • Efficiency ratio – 62.6%. Adjusted1 efficiency ratio – 56.5% • Effective tax rate of 21.2%. Adjusted1 effective tax rate of 21.8% • Net interest income – $174.0 million • Net interest margin of 3.96% on a GAAP basis; 3.98% on a fully tax equivalent basis1 • Net income – $62.4 million or $0.64 per diluted share. Adjusted1 net income – $77.7 million or $0.80 per diluted share • Return on average assets – 1.22%. Adjusted 1 return on average assets – 1.52% • Return on average shareholders’ equity – 9.18%. Adjusted1 return on average shareholders’ equity – 11.44% • Return on average tangible common equity – 16.27%. Adjusted1 return on average tangible common equity – 20.27% • Provision expense – $10.1 million • Net charge-offs – $8.8 million. NCOs / Avg. Loans – 0.27% annualized • Classified Assets / Total Assets – 1.11% • NPA / Total Assets – 0.48% • ACL / Total Loans – 1.39%; $25.9 million total reserve build due to Westfield • Total capital ratio – 15.46% • Tier 1 common equity ratio – 11.32% • Tangible common equity ratio – 7.79%. Adjusted1 tangible common equity ratio – 8.74% • Tangible book value per share – $15.74 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation.

 
4Q 2025 highlights • Record adjusted1 quarterly earnings driven by robust net interest margin • Adjusted1 earnings per share – $0.80 • Adjusted1 return on assets – 1.52% • Adjusted1 pre-tax, pre-provision return on assets – 2.14% • Adjusted1 return on average tangible common equity – 20.3% • $300.0 million of subordinated debt issued during the fourth quarter • 6.375% interest rate • 10-year maturity, 5-year call feature • Solid organic loan growth during the quarter • EOP loan balances increased $1.7 billion, or 14.6%, compared to the linked quarter • Growth included $1.6 billion from the Westfield acquisition • Organic growth of $131 million, or 4% on an annualized basis, driven by C&I and leasing portfolios • Total deposit balances increased $2.0 billion; includes $1.8 billion acquired in the Westfield transaction • Organic growth of $263.7 million spread across most deposit types; 7% on an annualized basis • Average noninterest bearing deposits were 21% of average total deposits • Net interest margin (FTE) of 3.98% decreased 4 bps from linked quarter • 15 bp decrease in cost of funds • 19 bp decrease in asset yields 5 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. .

 
4Q 2025 highlights • Noninterest income of $64.8 million; $77.3 million as adjusted1 • Record wealth management income increased 26.4% to $9.3 million • Record foreign exchange income increased 36.2% to $22.7 million • Leasing business income remains strong at $19.5 million • Adjusted1 noninterest expense of $141.9 million; 6.4% increase from third quarter • Fourth quarter adjustments1 include $5.7 million of acquisition related expenses, $0.8 million of tax credit 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 adjusted1 • Credit quality in line with expectations • Total ACL of $206.7 million; provision expense of $10.1 million o Loans and leases - ACL of $186.5 million; $23.7 million related to Westfield o 1.39% of total loans; in line with prior quarter o Unfunded Commitments - ACL of $20.2 million; $2.2 million related to Westfield • $8.8 million in net charge-offs; 0.27% of loans on an annualized basis • Nonperforming assets increased slightly to 0.48% of total assets; Classified assets declined to 1.11% of total assets • Capital ratios remain strong despite impact from Westfield acquisition • Total capital ratio of 15.46%; 14 bp increase from linked quarter • Tier 1 common equity of 11.32%; 159 bp decrease from linked quarter • Tangible book value of $15.74; decreased $0.45, or 2.8% from linked quarter • Tangible common equity decreased 108 bps to 7.79%; 8.74%1 excluding ($189.9) million of AOCI 6 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. .

 
adjusted net income1 7 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. All dollars shown in thousands, except per share amounts The table below lists certain adjustments that the Company believes are significant to understanding its quarterly performance. As Reported Adjusted 1 As Reported Adjusted 1 Net interest income 173,995$ 173,995$ 160,486$ 160,486$ Provision for credit losses-loans and leases 9,688$ 9,688$ 8,612$ 8,612$ Provision for credit losses-unfunded commitments 412$ 412$ 453$ 453$ Noninterest income 64,767$ 64,767$ 73,525$ 73,525$ less: gains (losses) on security transactions - (12,576) A - (42) A Total noninterest income 64,767$ 77,343$ 73,525$ 73,567$ Noninterest expense 149,531$ 149,531$ 134,269$ 134,269$ less: tax credit investment writedown - 800 A - 112 A less: merger-related expenses - 5,658 A - - A less: other - 1,177 A - 827 A Total noninterest expense 149,531$ 141,896$ 134,269$ 133,330$ Income before income taxes 79,131$ 99,342$ 90,677$ 91,658$ Income tax expense 16,738$ 16,738$ 18,754$ 18,754$ plus: after-tax impact of tax credit investment @ 21% - 632 - 89 plus: tax effect of adjustments (A) @ 21% statutory rate - 4,244 - 206 Total income tax expense 16,738$ 21,614$ 18,754$ 19,049$ Net income 62,393$ 77,728$ 71,923$ 72,609$ Net earnings per share - diluted 0.64$ 0.80$ 0.75$ 0.76$ Pre-tax, pre-provision return on average assets 1.75% 2.14% 2.13% 2.15% 4Q 2025 3Q 2025

 
profitability 8 Return on Average Assets Return on Avg Tangible Common Equity Diluted EPS 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation. Adjusted1 Pre-tax, Pre-Provision Earnings 1.22% 1.54%1.52% 1.13% 1.41% 1.52%1.55%1.54% 1.33% 1.47% 4Q253Q252Q251Q254Q24 ROA Adjusted ROA 1 $0.64 $0.75$0.73 $0.54 $0.68 $0.80 $0.76 $0.74 $0.63 $0.71 4Q253Q252Q251Q254Q24 Diluted EPS Adjusted EPS 1 16.27% 19.11%19.61% 15.16% 19.08% 20.27% 19.29% 19.76% 17.80% 19.90% 4Q253Q252Q251Q254Q24 ROATCE Adjusted ROATCE 1 $109.4$100.7$98.5 $83.7$93.2 2.14%2.15%2.14% 1.85% 2.03% 4Q253Q252Q251Q254Q24 Pre-tax, pre-provision earnings Pre-tax, pre-provision ROA 1

 
net interest income & margin 9 4Q25 NIM (FTE) Progression Net Interest Income All dollars shown in millions 1 1 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation. 1 3.82%3.89%3.95% 3.80%3.82% 0.12% 0.13%0.10% 0.08%0.12% 0.04% 3.98%4.02%4.05% 3.88%3.94% 4Q253Q252Q251Q254Q24 Basic Margin (FTE) Loan Fees Loan Accretion $166.6 $155.4$154.3 $146.2$149.7 $5.2 $5.1$4.0 $3.1 $4.7 $2.2 $174.0 $160.5$158.3 $149.3 $154.4 4Q253Q252Q251Q254Q24 Basic NII Loan Fees Loan Accretion Net Interest Margin (FTE) 3Q25 4.02% Asset yields/mix -0.23% Loan accretion 0.04% Funding costs/mix 0.15% 4Q25 3.98%

 
average balance sheet 10 Average Securities All dollars shown in millions 1 Includes loans fees and loan accretion $3,989$3,552$3,479$3,412$3,373 4.31%4.31% 4.44% 4.35% 4.28% 4Q253Q252Q251Q254Q24 Investment Securities Investment Securities Yield $15,959$14,512$14,355$14,241$14,340 1.96%2.13%2.11% 2.24% 2.36% 4Q253Q252Q251Q254Q24 Deposits Cost of Deposits $12,812$11,806$11,793$11,725$11,688 6.68% 6.88%6.85%6.82% 7.04% 4Q253Q252Q251Q254Q24 Loans Loan Yield Average Loans Average Deposits 1

 
11 Borrowing Capacity • Interest-bearing deposits with other banks of $597 million • Investment securities portfolio: • 98.5% of investment portfolio classified as available-for-sale • $751.6 million of expected cash flow from securities portfolio in next 12 months • $393.4 million of floating rate securities with minimal losses • Portfolio duration of 4.4 years at December 31, 2025 borrowing capacity & cash/investment liquidity Cash/Investment Liquidity All dollars shown in thousands FHLB borrowing availability 999,437$ Fed Discount Window availability 844,444 Brokered CDs/Deposit placement services 2,776,955 Fed funds 1,013,000 Total as of December 31, 2025 5,633,835$

 
loan portfolio 12 Loan LOB Mix (EOP) Net Loan Change-LOB (Linked Quarter) All dollars shown in millions Total growth/(decline): $1.710 billion ICRE $3,761 28% Commercial & Small Business Banking $3,905 29% Oak Street $1,200 9% Summit $1,039 8% Agile $286 2% Consumer $1,244 9% Mortgage $1,989 15% Total $13.4 Billion -$2.0 $79.6 -$8.3 $80.1 -$19.3 $26.7 -$25.8 $1,578.5 ICRE Commercial & Small Business Banking Oak Street Summit Agile Consumer Mortgage Westfield

 
loan concentrations 13 C&I and Owner Occupied CRE Loans by Sector1 Investor CRE Loans by Property Type All dollars shown in millions 1 Excludes Agile Premium Finance NAICS Sector 12/31/25 % of Total Loans Finance and Insurance $1,129.9 8.4% Uncoded 869.2 6.5% Manufacturing 560.7 4.2% Construction 400.5 3.0% Real Estate and Rental and Leasing 377.2 2.8% Professional, Scientific, and Technical Services 291.5 2.2% Retail Trade 270.2 2.0% Health Care and Social Assistance 258.0 1.9% Accommodation and Food Services 247.2 1.8% Wholesale Trade 213.1 1.6% Agriculture, Forestry, Fishing and Hunting 160.4 1.2% Transportation and Warehousing 148.3 1.1% Administrative and Support and Waste Management 142.6 1.1% Other Services (except Public Administration) 116.0 0.9% Arts, Entertainment, and Recreation 75.0 0.6% Utilities 62.1 0.5% Information 59.9 0.4% Public Administration 57.9 0.4% Management of Companies and Enterprises 57.2 0.4% Educational Services 28.0 0.2% Other 14.0 0.1% Grand Total $5,539.0 41.3% Property Type 12/31/25 % of Total Loans Residential Multi Family 5+ $1,190.8 8.9% Retail Property 863.2 6.4% Industrial 453.8 3.4% Office 355.0 2.6% Hospital/Nursing Home 321.2 2.4% Uncoded 180.6 1.3% Land 119.9 0.9% Hotel 103.1 0.8% Residential 1-4 Family 94.2 0.7% Other Real Estate 51.7 0.4% Unsecured 15.8 0.1% Other 11.7 0.1% Grand Total $3,761.2 28.0%

 
deposits 14 Deposit Product Mix (Avg) 4Q25 Average Deposit Progression All dollars shown in millions Total growth/(decline): $1.447 billion Noninterest- bearing $3,314 21% Interest-bearing demand $1,965 12% Savings $1,007 6% Money Market $3,957 25% Retail CDs $2,167 14% Brokered Deposits $1,432 9% Public Funds $2,117 13% Total $16.0 billion $61.1 $73.6 -$7.5 $107.3 -$31.8 -$3.4 $64.3 $1,183.1 Noninterest-bearing Interest-bearing demand Savings Money Market Retail CDs Brokered Deposits Public Funds Westfield

 
average deposit trends1 15 1 Excludes impact from Westfield All dollars shown in millions Business Public Funds Personal $6,656$6,684$6,696$6,665$6,520 4Q253Q252Q251Q254Q24 $4,457$4,307$4,163$4,190$4,207 4Q253Q252Q251Q254Q24 $2,133$2,009$2,151$2,066$2,129 4Q253Q252Q251Q254Q24 Uninsured deposits (per call report instructions) 7,446$ Less: Public funds 2,038 Less: Intercompany deposits 514 Adjusted uninsured deposits 4,894 Borrowing capacity 5,634 Borrowing capacity in excess of adjusted uninsured deposits $ 740 Borrowing capacity as a % of adjusted uninsured deposits 115.1% Adjusted uninsured deposits to total deposits 29.8% Uninsured Deposits

 
noninterest income 16 Noninterest Income 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. 2 Excludes $12.6 million of losses on investment securities 4Q25 Highlights • Record adjusted1 noninterest income 27% of net revenue • Record foreign exchange income of $22.7 million; increased $6.0 million, or 36.2% from linked quarter • Record wealth management income of $9.3 million; increased $1.9 million, or 26.4% from linked quarter • Leasing business income of $19.5 million; decreased $1.5 million, or 7.0% from the linked quarter • Other excludes $12.6 million of losses on investment securities All dollars shown in millions Service Charges $8.3 Wealth Mgmt $9.3 Bankcard $3.6 Client derivative fees $2.7 Foreign exchange $22.7 Leasing business $19.5 Mortgage banking $7.0 Other $4.2 Total $64.8 million $77.3 million as adjusted 1 2

 
noninterest expense 17 Noninterest Expense 4Q25 Highlights 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company' Company’s financial condition. See Appendix for Non-GAAP reconciliations. All dollars shown in millions • Adjusted1 noninterest expense increased $8.6 million, or 6.4% from linked quarter • Efficiency ratio of 62.6%; 56.5% as adjusted1 • Increase driven by the Westfield acquisition • $7.6 million of adjustments1 include: • $5.7 million of merger-related expenses • $0.8 million of tax credit investment write-down • $1.2 million of other costs not expected to recur such as efficiency Full-time Equivalent Employees Salaries and benefits $85.1 57% Occupancy and equipment $10.3 7% Data processing $10.5 7% Professional services $6.2 4% Intangible amortization $3.9 3% Leasing business expense $13.8 9% Other $19.7 13% $149.5 million Efficiency Ratio 2,164 1,986 2,033 2,021 2,064 4Q253Q252Q251Q254Q24 Full-time equivalent employees 2 66.0% 63.9% 56.9% 57.4% 62.6% 58.4% 60.2% 56.4% 57.0% 56.5% 4Q24 1Q25 2Q25 3Q25 4Q25 Efficiency Ratio Adjusted Efficiency Ratio 1 2 Includes 169 FTE from Westfield acquisition

 
allowance for credit losses 18 4Q25 Highlights All dollars shown in millions • $206.7 million combined ACL; $10.1 million combined provision expense • $186.5 million ACL – loans and leases; $23.7 million related to Westfield; • ACL 1.39% of total loans • Utilized Moody’s December baseline forecast in quantitative model • $20.2 million ACL – unfunded commitments; $2.2 million related to Westfield $156.8 $155.5 $158.5 $161.9 $186.5 $16.9 $16.4 $17.1 $17.6 $20.2$173.7 $171.9 $175.7 $179.5 $206.71.33% 1.33% 1.34% 1.38% 1.39% 4Q24 1Q25 2Q25 3Q25 4Q25 ACL-loans and leases ACL-unfunded commitments ACL / Total Loans ACL / Total Loans

 
asset quality 19 Classified Assets / Total Assets . 1 Provision includes both loans & leases and unfunded commitments All dollars shown in millions Nonperforming Assets / Total Assets Net Charge Offs & Provision Expense1 $11.7 $10.5 $6.0 $5.2 $8.8 $9.4 $8.7 $9.8 $9.1 $10.1 0.27% 0.18%0.21% 0.36% 0.40% 4Q24 1Q25 2Q25 3Q25 4Q25 NCOs Provision Expense NCOs / Average Loans $235.5 $218.8$214.3$213.4 $224.1 1.11%1.18%1.15%1.16%1.21% 4Q253Q252Q251Q254Q24 Classified Assets Classified Assets / Total Assets $102.0 $76.1$77.1 $59.8 $66.0 0.48% 0.41%0.41% 0.32%0.36% 4Q253Q252Q251Q254Q24 NPAs NPAs / Total Assets

 
capital 20 Tangible Common Equity Ratio 12/31 Risk Weighted Assets = $15,890,363 All capital numbers are considered preliminary. 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation. Adjusted TCE excludes impact from AOCI Tier 1 Capital Ratio 11.32% 12.91%12.57%12.29%12.16% 7.00% 4Q253Q252Q251Q254Q24 Tier 1 Common Equity Ratio Basel III minimum Tier 1 Common Equity Ratio 11.60% 13.23%12.89%12.61%12.48% 8.50% 4Q253Q252Q251Q254Q24 Tier 1 Capital Ratio Basel III minimum 15.46%15.32%14.98%14.90%14.64% 10.50% 4Q253Q252Q251Q254Q24 Total Capital Ratio Basel III minimum Total Capital Ratio 7.73% 8.16% 8.40% 8.87% 7.79% 9.39% 9.62% 9.81% 10.15% 8.74% 4Q24 1Q25 2Q25 3Q25 4Q25 TCE ratio Adjusted TCE ratio1

 
capital strategy 21 Strategy & DeploymentTangible Book Value Per Share • 4.0% annualized dividend yield as of December 31st • 40% of 4Q25 earnings returned to shareholders through common dividend • Most recent internal stress testing indicates capital ratios above regulatory minimums in all modeled scenarios • Common dividend of $0.25 • No shares repurchased in 4Q25; no plans to repurchase shares in near- term • Decrease in TBV per share from linked quarter driven by Westfield acquisition • 11.2% increase since 4Q24 1 Excludes impact from AOCI $14.15 $14.80 $15.40 $16.19 $15.74 $17.18 $17.45 $17.98 $18.52 $17.67 4Q24 1Q25 2Q25 3Q25 4Q25 Tangible Book Value per Share TBV per share-adjusted 1

 
outlook commentary1 • Loan balances expected to increase low single digits on an annualized basis in the near-term, excluding BankFinancial • Core deposit balances expected to modestly decline, with seasonal outflows expected • $1.3 billion of earning assets expected in BankFinancial acquisition 22 • Total noninterest expense expected to be $156 - 158 million • Incentive expense will fluctuate with fee income • Includes $11 million expense due to Westfield acquisition • Includes $10 million expense due to BankFinancial acquisition Noninterest Expense Net Interest Margin Balance Sheet Credit • Credit costs expected to approximate fourth quarter level • Stable ACL coverage as a percentage of loans expected Noninterest Income • Total expected fee income of $71 - 73 million • Includes $14 - 16 million foreign exchange • Includes $19 - 21 million leasing business income • Includes $1 million expected from Westfield acquisition • Includes $1 million expected from BankFinancial acquisition 1 See Forward Looking Statement Disclosure on page 2-3 of this presentation for a discussion of factors that could affect management’s expectations and results in future periods. • Expected to be 3.94% - 3.99%; assumes 25 bp March rate cut • Includes impact from BankFinancial acquisition Capital • Common dividend unchanged at $0.25

 
23 overview of Westfield – closed 11/1/25 Westfield Bank Lines of Business • Commercial Banking / Treasury Management • Agency Banking and Premium Finance • Registered Investment Advisor Banking • Consumer - Mortgage• Consumer - Retail • Private Banking $2.1B in assets Consolidated Financial Highlights as of November 1, 2025 $1.6B in loans Headquarters: Westfield Center, OH Branches: 7 Active (1 Pending) Employees: 169 • Westfield Bancorp, the holding company for Westfield Bank, FSB (“Westfield Bank”), was 100% owned by Ohio Farmers Insurance Company (“OFIC”) (d/b/a Westfield), a mutual insurance company founded in 1848. $1.8B in deposits

 
24 overview of BankFinancial – closed 1/1/26 Key franchise highlights Financial summary Balance Sheet & Capital (As of 4Q25 Unless Otherwise Stated, %) 46Cash & Securities / Assets 58Loan / Deposit Ratio 78Non-Time Deposit Composition 11.2TCE / TA 21.1CET1 Ratio1 (0.01)NCOs / Avg. Loans (MRQ, annualized) Profitability – (4Q25, %) 0.06Return on Avg. Assets 3.23Net Interest Margin 96Efficiency Ratio 11Fee Income Ratio Loan & Deposit composition $1.4BnTotal Assets $1.2BnTotal Deposits Burr Ridge, IllinoisHeadquarters 1924Year Founded 17 Full-Service Retail BranchesBranches BFIN (NASDAQ-Listed)Ticker 1 Attractive low cost, core deposit franchise 2 Significant scarcity value in Chicago MSA 3 Strong capitalization and excess liquidity profile 4 Limited borrowings and no brokered deposits 5 Robust credit quality and underwriting philosophy Loan composition Deposit composition Overview of BankFinancial 1 Data for the quarter ended 9/30/25 Note: All consolidated financial data as of 4Q25 unless otherwise noted Loans: $700.2 million Yield on Loans: 5.22% Deposits: $1.2 billion Cost of Deposits: 1.45% Money Market 25% Interest Bearing Checking 24% Certificates of Deposit 22% Noninterest Bearing 16% Savings 13% Multifamily 66% Equipment Finance 14% Non-Res. RE 13% Commercial Finance 5% 1-4 Family 2% Consumer 0%

 
The Company’s Investor Presentation contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States (GAAP). Such non-GAAP financial information should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. However, we believe that non-GAAP reporting provides meaningful information and therefore we use it to supplement our GAAP information. We have chosen to provide this supplemental information to investors, analysts and other interested parties to enable them to perform additional analyses of operating results, to illustrate the results of operations giving effect to the non-GAAP adjustments and to provide an additional measure of performance. We believe this information is helpful in understanding the results of operations separate and apart from items that may, or could, have a disproportional positive or negative impact in any given period. For a reconciliation of the differences between the non-GAAP financial measures and the most comparable GAAP measures, please refer to the following reconciliation tables. to GAAP Reconciliation 25 appendix: non-GAAP measures

 
appendix: non-GAAP to GAAP reconciliation 26 All dollars shown in thousands Net interest income and net interest margin - fully tax equivalent Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, 2025 2025 2025 2025 2024 Net interest income 173,995$ 160,486$ 158,269$ 149,296$ 154,399$ Tax equivalent adjustment 1,227 1,248 1,246 1,213 1,274 Net interest income - tax equivalent 175,222$ 161,734$ 159,515$ 150,509$ 155,673$ Average earning assets 17,448,460$ 15,968,153$ 15,814,576$ 15,752,132$ 15,714,676$ Net interest margin1 3.96 % 3.99 % 4.01 % 3.84 % 3.91 % Net interest margin (fully tax equivalent)1 3.98 % 4.02 % 4.05 % 3.88 % 3.94 % Three months ended 1 Margins are calculated using net interest income annualized divided by average earning assets. 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.

 
appendix: non-GAAP to GAAP reconciliation 27 All dollars shown in thousands Additional non-GAAP ratios Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, (Dollars in thousands, except per share data) 2025 2025 2025 2025 2024 Net income (a) 62,393$ 71,923$ 69,996$ 51,293$ 64,885$ Average total shareholders' equity 2,695,581 2,575,203 2,515,747 2,457,785 2,441,045 Less: Goodwill (1,069,781) (1,007,656) (1,007,656) (1,007,656) (1,007,658) Other intangibles (104,184) (74,448) (76,076) (78,220) (80,486) Average tangible equity (b) 1,521,616 1,493,099 1,432,015 1,371,909 1,352,901 Total shareholders' equity 2,769,216 2,631,855 2,558,155 2,501,235 2,438,041 Less: Goodwill (1,099,524) (1,007,656) (1,007,656) (1,007,656) (1,007,656) Other intangibles (118,832) (73,797) (75,458) (77,002) (79,291) Ending tangible common equity (c) 1,550,860 1,550,402 1,475,041 1,416,577 1,351,094 Less: AOCI (189,942) (223,000) (246,384) (253,888) (289,799) Adjusted ending tangible common equity (d) 1,740,802 1,773,402 1,721,425 1,670,465 1,640,893 Total assets 21,129,379 18,554,506 18,634,255 18,455,067 18,570,261 Less: Goodwill (1,099,524) (1,007,656) (1,007,656) (1,007,656) (1,007,656) Other intangibles (118,832) (73,797) (75,458) (77,002) (79,291) Ending tangible assets (e) 19,911,023 17,473,053 17,551,141 17,370,409 17,483,314 Risk-weighted assets (f) 15,890,363 14,166,935 14,129,683 14,027,274 14,059,215 Total average assets 20,256,539 18,566,188 18,419,437 18,368,604 18,273,419 Less: Goodwill (1,069,781) (1,007,656) (1,007,656) (1,007,656) (1,007,658) Other intangibles (104,184) (74,448) (76,076) (78,220) (80,486) Average tangible assets (g) 19,082,574$ 17,484,084$ 17,335,705$ 17,282,728$ 17,185,275$ Ending shares outstanding (h) 98,521,726 95,757,250 95,760,617 95,730,353 95,494,840 Ratios Return on average tangible shareholders' equity (a)/(b) 16.27% 19.11% 19.61% 15.16% 19.08% Ending tangible common equity as a percent of: Ending tangible assets (c)/(e) 7.79% 8.87% 8.40% 8.16% 7.73% Risk-weighted assets (c)/(f) 9.76% 10.94% 10.44% 10.10% 9.61% Adjusted ending tangible common equity to ending tangible assets (d)/(e) 8.74% 10.15% 9.81% 9.62% 9.39% Average tangible equity as a percent of average tangible assets (b)/(g) 7.97% 8.54% 8.26% 7.94% 7.87% Tangible book value per share (c)/(h) 15.74$ 16.19$ 15.40$ 14.80$ 14.15$ Three months ended,

 
appendix: non-GAAP to GAAP reconciliation 28 All dollars shown in thousands Additional non-GAAP measures 2Q25 1Q25 As Reported Adjusted As Reported Adjusted As Reported Adjusted As Reported Adjusted Net interest income (f) 173,995$ 173,995$ 160,486$ 160,486$ 158,269$ 158,269$ 149,296$ 149,296$ Provision for credit losses-loans and leases (j) 9,688 9,688 8,612 8,612 9,084 9,084 9,141 9,141 Provision for credit losses-unfunded commitments (j) 412 412 453 453 718 718 (441) (441) Noninterest income 64,767 64,767 73,525 73,525 68,063 68,063 51,083 51,083 less: gains (losses) on security transactions (12,576) (42) 242 (9,948) Total noninterest income (g) 64,767 77,343 73,525 73,567 68,063 67,821 51,083 61,031 Noninterest expense 149,531 149,531 134,269 134,269 128,671 128,671 128,076 128,076 less: tax credit investment writedown 800 112 111 112 less: merger-related expenses 5,658 - - - less: Other 1,177 827 960 1,345 Total noninterest expense (e) 149,531 141,896 134,269 133,330 128,671 127,600 128,076 126,619 Income before income taxes (i) 79,131 99,342 90,677 91,658 87,859 88,688 63,603 75,008 Income tax expense 16,738 16,738 18,754 18,754 17,863 17,863 12,310 12,310 plus: tax effect of adjustments 632 89 88 88 plus: after-tax impact of tax credit investments @ 21% 4,244 206 174 2,395 Total income tax expense (h) 16,738 21,614 18,754 19,049 17,863 18,125 12,310 14,793 Net income (a) 62,393$ 77,728$ 71,923$ 72,609$ 69,996$ 70,563$ 51,293$ 60,215$ Average diluted shares (b) 97,594 97,594 95,754 95,754 95,742 95,742 95,524 95,524 Average assets (c) 20,256,539 20,256,539 18,566,188 18,566,188 18,419,437 18,419,437 18,368,604 18,368,604 Average shareholders' equity (k) 2,695,581 2,695,581 2,575,203 2,575,203 2,515,747 2,515,747 2,457,785 2,457,785 Less: Goodwill and other intangibles (1,173,965) (1,173,965) (1,082,104) (1,082,104) (1,083,732) (1,083,732) (1,085,876) (1,085,876) Average tangible equity (d) 1,521,616 1,521,616 1,493,099 1,493,099 1,432,015 1,432,015 1,371,909 1,371,909 Ratios Net earnings per share - diluted (a)/(b) 0.64$ 0.80$ 0.75$ 0.76$ 0.73$ 0.74$ 0.54$ 0.63$ Return on average assets - (a)/(c) 1.22% 1.52% 1.54% 1.55% 1.52% 1.54% 1.13% 1.33% Pre-tax, pre-provision return on average assets - ((a)+(j)+(h))/(c) 1.75% 2.14% 2.13% 2.15% 2.13% 2.14% 1.60% 1.85% Return on average shareholders' equity (a)/(k) 9.18% 11.44% 11.08% 11.19% 11.16% 11.25% 8.46% 9.94% Return on average tangible shareholders' equity - (a)/(d) 16.27% 20.27% 19.11% 19.29% 19.61% 19.76% 15.16% 17.80% Efficiency ratio - (e)/((f)+(g)) 62.6% 56.5% 57.4% 57.0% 56.9% 56.4% 63.9% 60.2% Effective tax rate - (h)/(i) 21.2% 21.8% 20.7% 20.8% 20.3% 20.4% 19.4% 19.7% (Dollars in thousands, except per share data) 4Q25 3Q25

 
29 First Financial Bancorp First Financial Center 255 East Fifth Street Cincinnati, OH 45202