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8-K

First Financial Bancorp /Oh/ (FFBC)

8-K 2025-10-23 For: 2025-10-23
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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): October 23, 2025

FIRST FINANCIAL BANCORP.

(Exact name of registrant as specified in its charter)

Ohio 001-34762 31-1042001
(State or other jurisdiction of<br>incorporation or organization) (Commission File Number) (I.R.S. employer<br>identification number)
255 East Fifth Street, Suite 900 Cincinnati, Ohio 45202
(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 class Trading symbol Name of exchange on which registered
Common stock, No par value FFBC The 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 October 23, 2025, First Financial Bancorp. (the "Company") issued its earnings press release that included its results of operations and financial condition for the first nine months and third 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 October 23, 2025

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: October 23, 2025

Document

Exhibit 99.1

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First Financial Bancorp Announces Third Quarter

and Year to Date 2025 Financial Results

•Earnings per diluted share of $0.75; $0.76 on an adjusted(1) basis

•Return on average assets of 1.54%; 1.55% on an adjusted(1) basis

•Net interest margin on FTE basis(1) of 4.02%

•Record total revenue of $234 million

•Record noninterest income of $73.5 million; $73.6 million on an adjusted(1) basis

•TCE ratio increased to 8.87%; ROATCE of 19%

•Annualized net charge-offs of 0.18%

•Obtained regulatory approval for Westfield acquisition; expected close November 1st

Cincinnati, Ohio - October 23, 2025. First Financial Bancorp. (Nasdaq: FFBC) (“First Financial” or the “Company”) announced financial results for the three and nine months ended September 30, 2025.

For the three months ended September 30, 2025, the Company reported net income of $71.9 million, or $0.75 per diluted common share. These results compare to net income of $70.0 million, or $0.73 per diluted common share, for the second quarter of 2025. For the nine months ended September 30, 2025, First Financial had earnings per diluted share of $2.02 compared to $1.72 for the same period in 2024.

Return on average assets for the third quarter of 2025 was 1.54% while return on average tangible common equity was 19.11%(1). These compare to return on average assets of 1.52% and return on average tangible common equity of 19.61%(1) in the second quarter of 2025.

Third quarter 2025 highlights include:

•Robust net interest margin of 3.99%, or 4.02% on a fully tax-equivalent basis(1)

◦3 bp decrease from second quarter

◦1 bp increase in funding costs and 2 bp decrease in asset yields

•Record noninterest income of $73.5 million; $73.6 million on an adjusted(1) basis

◦Leasing business income remains strong at $21.0 million

◦Foreign exchange income increased 21.1% to $16.7 million

◦Other noninterest income increased $2.8 million due to higher syndication fees and higher income on other investments

•Noninterest expenses of $134.3 million, or $133.3 million as adjusted(1); 4.5% increase from linked quarter

◦Third quarter adjustments(1) include $0.1 million of tax credit investment writedowns and $0.8 million of efficiency and acquisition related costs

◦Increase driven by incentive compensation tied to record fee income

◦Efficiency ratio of 57.4%; 57.0% as adjusted(1)

•Slight decline in loan balances during the quarter

◦Average loan balances increased $11.9 million compared to second quarter while end of period loan balances decreased $71.6 million

•Average deposit growth of 4.3% on an annualized basis

◦Average deposit balances increased $157.2 million

◦Growth in brokered deposits, money markets and interest-bearing demand partially offset by a seasonal decline in public funds

____________________________________________________________________________________________

(1) Non-GAAP measure. For details on the calculation of these non-GAAP financial measures and a reconciliation to the GAAP financial measure, see the sections titled “Use of Non-GAAP Financial Measures” in this release and “Appendix: Non-GAAP to GAAP Reconciliation” in the accompanying slide presentation.

•Total Allowance for Credit Losses of $179.5 million; Total quarterly provision expense of $9.1 million

◦Loans and leases - ACL of $161.9 million; ratio to total loans of 1.38%

◦Unfunded Commitments - ACL of $17.6 million

◦Annualized net charge-offs were 18 bps of total loans; 3 bp decline from linked quarter

◦Nonperforming assets remained flat at 0.41% of total assets

•Capital ratios remain strong

◦Total capital ratio increased 34 bps to 15.32%

◦Tier 1 common equity increased 34 bps to 12.91%

◦Tangible common equity of 8.87%(1); 10.15%(1) excluding impact from AOCI

◦Tangible book value per share of $16.19(1); 5.1% increase from linked quarter

Archie Brown, President and CEO, commented on third quarter results, “The third quarter of 2025 was another outstanding quarter for First Financial. Adjusted(1) net income was $72.6 million and adjusted(1) earnings per share were $0.76, which resulted in an adjusted(1) return on assets of 1.55% and an adjusted(1) return on tangible common equity of 19.3%.”

Mr. Brown continued, “We achieved record revenue in the third quarter driven by a robust net interest margin and record noninterest income. We have successfully maintained asset yields, while moderating our funding costs, which combined to result in an industry-leading net interest margin. In addition, our diverse income streams remain a positive differentiator for us, with our adjusted(1) noninterest income representing 31% of total net revenue for the quarter.

Expenses continue to be well-managed. Excluding incentives tied to strong performance and the record fee income, total noninterest expenses were flat compared to the second quarter. Our workforce efficiency efforts continued during the period, and we have successfully reduced our full time equivalents by approximately 200, or 9%, since we began our initiative two years ago. We expect further efficiencies subsequent to the integration of our pending acquisitions.”

Mr. Brown further remarked, “Loan balances declined modestly during the quarter, falling short of our expectations. Lower production in our specialty businesses, along with a greater percentage of construction originations, which fund over time, drove the modest decline. Loan pipelines are very healthy as we enter the fourth quarter, and we expect a return to mid-single digit loan growth as we close out the year.”

Mr. Brown commented on asset quality and capital, “Asset quality metrics were stable for the third quarter. Nonperforming assets were flat as a percent of assets and annualized net charge-offs were 18 basis points, which was a slight improvement from the linked quarter.

We were very happy that our strong earnings led to the continued growth in tangible book value per share and tangible common equity during the third quarter. Tangible book value per share of $16.19 increased 5% from the linked quarter and 14% from a year ago, while tangible common equity increased 47 basis points from June 30th, to 8.87% at the end of September.”

Mr. Brown concluded, “We remain excited about our pending acquisitions and are pleased to have received formal regulatory approval for our acquisition of Westfield Bank, which is expected to close on November 1st. Our application for the acquisition of BankFinancial is in process and we anticipate closing that transaction early in the first quarter of 2026.

We are very proud of our financial performance through the first nine months of the year, which have resulted in industry leading profitability. We expect to have another strong quarter to close 2025 and build positive momentum as we head into 2026."

Full detail of the Company’s third quarter 2025 performance is provided in the accompanying financial statements and slide presentation.

Teleconference / Webcast Information

First Financial’s executive management will host a conference call to discuss the Company’s financial and operating results on Friday, October 24, 2025 at 8:30 a.m. Eastern Time. Members of the public who would like to listen to the conference call should dial (888) 550-5723 (U.S. toll free) or (646) 960-0471 (U.S. local), access code 5048068. The number should be dialed five to ten minutes prior to the start of the conference call. A replay of the conference call will be available beginning one hour after the completion of the live call at (800) 770-2030 (U.S. toll free), (609) 800-9099 (U.S. toll), access code 5048068. The recording will be available until November 7, 2025. The conference call will also be accessible as an audio webcast via the Investor Relations section of the Company’s website at www.bankatfirst.com. The webcast will be archived on the Investor Relations section of the Company’s website for 12 months.

Press Release and Additional Information on Website

This press release as well as supplemental information are available to the public through the Investor Relations section of First Financial's website at www.bankatfirst.com.

Use of Non-GAAP Financial Measures

This earnings release contains GAAP financial measures and Non-GAAP financial measures where management believes it to be helpful in understanding the Company’s results of operations or financial position. Where Non-GAAP financial measures are used, the comparable GAAP financial measures, as well as a reconciliation to the comparable GAAP financial measure, can be found in the section titled “Appendix: Non-GAAP to GAAP Reconciliation” in the accompanying slide presentation.

Forward-Looking Statements

Certain statements contained in this report which are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Words such as ‘‘believes,’’ ‘‘anticipates,’’ “likely,” “expected,” “estimated,” ‘‘intends’’ and other similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.  Examples of forward-looking statements include, but are not limited to, statements we make about (i) our future operating or financial performance, including revenues, income or loss and earnings or loss per share, (ii) future common stock dividends, (iii) our capital structure, including future capital levels, (iv) our plans, objectives and strategies, and (v) the assumptions that underlie our forward-looking statements.

As with any forecast or projection, forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that may cause actual results to differ materially from those set forth in the forward-looking statements.  Forward-looking statements are not historical facts but instead express only management’s beliefs regarding future results or events, many of which, by their nature, are inherently uncertain and outside of management’s control. It is possible that actual results and outcomes may differ, possibly materially, from the anticipated results or outcomes indicated in these forward-looking statements.  Important factors that could cause actual results to differ materially from those in our forward-looking statements include the following, without limitation:

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

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

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

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

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

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

•the effect of changes in accounting policies and practices;

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

•changes in customers’ performance and creditworthiness;

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

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

•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 September 30, 2025, the Company had $18.6 billion in assets, $11.7 billion in loans, $14.4 billion in deposits and $2.6 billion in shareholders’ equity. The Company’s subsidiary, First Financial Bank, founded in 1863, provides banking and financial services products through its six lines of business: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance and Wealth Management. These business units provide traditional banking services to business and retail clients. Wealth Management provides wealth planning, portfolio management, trust and estate, brokerage and retirement plan services and had approximately $4.0 billion in assets under management as of September 30, 2025. The Company operated 127 full service banking centers as of September 30, 2025, located in Ohio, Indiana, Kentucky and Illinois, while the Commercial Finance business lends into targeted industry verticals on a nationwide basis. In 2025, First Financial Bank received its second consecutive Outstanding rating from the Federal Reserve for its performance under the Community Reinvestment Act and was recognized as a Gallup Exceptional Workplace Award winner, one of only 70 Gallup clients worldwide to receive this designation. Additional information about the Company, including its products, services and banking locations, is available at www.bankatfirst.com.

Contact Information

Investors/Analysts                    Media

Jamie Anderson                        Tim Condron

Chief Financial Officer                    Director of Corporate Communications

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

InvestorRelations@bankatfirst.com            media@bankatfirst.com

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Selected Financial Information

September 30, 2025

(unaudited)

Contents Page
Consolidated Financial Highlights 2
Consolidated Statements of Income 3
Consolidated Quarterly Statements of Income 4-5
Consolidated Statements of Condition 6
Average Consolidated Statements of Condition 7
Net Interest Margin Rate / Volume Analysis 8-9
Credit Quality 10
Capital Adequacy 11
FIRST FINANCIAL BANCORP.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
CONSOLIDATED FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share data)
(Unaudited)
Three Months Ended, Nine months ended,
Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, Sep. 30,
2025 2025 2025 2024 2024 2025 2024
RESULTS OF OPERATIONS
Net income $ 71,923 $ 69,996 $ 51,293 $ 64,885 $ 52,451 $ 193,212 $ 163,945
Net earnings per share - basic $ 0.76 $ 0.74 $ 0.54 $ 0.69 $ 0.56 $ 2.04 $ 1.74
Net earnings per share - diluted $ 0.75 $ 0.73 $ 0.54 $ 0.68 $ 0.55 $ 2.02 $ 1.72
Dividends declared per share $ 0.25 $ 0.24 $ 0.24 $ 0.24 $ 0.24 $ 0.73 $ 0.70
KEY FINANCIAL RATIOS
Return on average assets 1.54 % 1.52 % 1.13 % 1.41 % 1.17 % 1.40 % 1.24 %
Return on average shareholders' equity 11.08 % 11.16 % 8.46 % 10.57 % 8.80 % 10.26 % 9.50 %
Return on average tangible shareholders' equity (1) 19.11 % 19.61 % 15.16 % 19.08 % 16.29 % 18.03 % 18.02 %
Net interest margin 3.99 % 4.01 % 3.84 % 3.91 % 4.05 % 3.95 % 4.05 %
Net interest margin (fully tax equivalent) (1)(2) 4.02 % 4.05 % 3.88 % 3.94 % 4.08 % 3.98 % 4.09 %
Ending shareholders' equity as a percent of ending assets 14.18 % 13.73 % 13.55 % 13.13 % 13.50 % 14.18 % 13.50 %
Ending tangible shareholders' equity as a percent of:
Ending tangible assets (1) 8.87 % 8.40 % 8.16 % 7.73 % 7.98 % 8.87 % 7.98 %
Risk-weighted assets (1) 10.95 % 10.44 % 10.10 % 9.61 % 9.86 % 10.95 % 9.86 %
Average shareholders' equity as a percent of average assets 13.87 % 13.66 % 13.38 % 13.36 % 13.28 % 13.64 % 13.08 %
Average tangible shareholders' equity as a percent of average tangible assets (1) 8.54 % 8.26 % 7.94 % 7.87 % 7.64 % 8.25 % 7.35 %
Book value per share $ 27.48 $ 26.71 $ 26.13 $ 25.53 $ 25.66 $ 27.48 $ 25.66
Tangible book value per share (1) $ 16.19 $ 15.40 $ 14.80 $ 14.15 $ 14.26 $ 16.19 $ 14.26
Common equity tier 1 ratio (3) 12.91 % 12.57 % 12.29 % 12.16 % 12.04 % 12.91 % 12.04 %
Tier 1 ratio (3) 13.23 % 12.89 % 12.61 % 12.48 % 12.37 % 13.23 % 12.37 %
Total capital ratio (3) 15.32 % 14.98 % 14.90 % 14.64 % 14.58 % 15.32 % 14.58 %
Leverage ratio (3) 10.50 % 10.28 % 10.01 % 9.98 % 9.93 % 10.50 % 9.93 %
AVERAGE BALANCE SHEET ITEMS
Loans (4) $ 11,806,065 $ 11,792,840 $ 11,724,727 $ 11,687,886 $ 11,534,000 $ 11,774,842 $ 11,347,720
Investment securities 3,552,014 3,478,921 3,411,593 3,372,539 3,274,498 3,481,357 3,181,575
Interest-bearing deposits with other banks 610,074 542,815 615,812 654,251 483,880 589,546 545,402
Total earning assets $ 15,968,153 $ 15,814,576 $ 15,752,132 $ 15,714,676 $ 15,292,378 $ 15,845,745 $ 15,074,697
Total assets $ 18,566,188 $ 18,419,437 $ 18,368,604 $ 18,273,419 $ 17,854,191 $ 18,452,133 $ 17,630,374
Noninterest-bearing deposits $ 3,124,277 $ 3,143,081 $ 3,091,037 $ 3,162,643 $ 3,106,239 $ 3,119,587 $ 3,139,939
Interest-bearing deposits 11,387,648 11,211,694 11,149,633 11,177,010 10,690,265 11,250,530 10,429,538
Total deposits $ 14,511,925 $ 14,354,775 $ 14,240,670 $ 14,339,653 $ 13,796,504 $ 14,370,117 $ 13,569,477
Borrowings $ 823,346 $ 910,573 $ 1,001,337 $ 855,083 $ 1,053,737 $ 911,100 $ 1,121,086
Shareholders' equity $ 2,575,203 $ 2,515,747 $ 2,457,785 $ 2,441,045 $ 2,371,125 $ 2,516,675 $ 2,306,147
CREDIT QUALITY RATIOS
Allowance to ending loans 1.38 % 1.34 % 1.33 % 1.33 % 1.37 % 1.38 % 1.37 %
Allowance to nonaccrual loans 213.18 % 206.08 % 261.07 % 237.66 % 242.72 % 213.18 % 242.72 %
Nonaccrual loans to total loans 0.65 % 0.65 % 0.51 % 0.56 % 0.57 % 0.65 % 0.57 %
Nonperforming assets to ending loans, plus OREO 0.65 % 0.65 % 0.51 % 0.56 % 0.57 % 0.65 % 0.57 %
Nonperforming assets to total assets 0.41 % 0.41 % 0.32 % 0.36 % 0.36 % 0.41 % 0.36 %
Classified assets to total assets 1.18 % 1.15 % 1.16 % 1.21 % 1.14 % 1.18 % 1.14 %
Net charge-offs to average loans (annualized) 0.18 % 0.21 % 0.36 % 0.40 % 0.25 % 0.25 % 0.26 %

(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) September 30, 2025 regulatory capital ratios are preliminary.

(4) Includes loans held for sale.

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
Three months ended, Nine months ended,
Sep. 30, Sep. 30,
2025 2024 % Change 2025 2024 % Change
Interest income
Loans and leases, including fees $ 204,865 $ 215,433 (4.9) % $ 603,488 $ 629,033 (4.1) %
Investment securities
Taxable 36,421 32,367 12.5 % 107,065 90,958 17.7 %
Tax-exempt 2,195 2,616 (16.1) % 6,632 8,412 (21.2) %
Total investment securities interest 38,616 34,983 10.4 % 113,697 99,370 14.4 %
Other earning assets 6,773 6,703 1.0 % 19,388 22,121 (12.4) %
Total interest income 250,254 257,119 (2.7) % 736,573 750,524 (1.9) %
Interest expense
Deposits 77,766 86,554 (10.2) % 231,891 245,651 (5.6) %
Short-term borrowings 5,979 9,932 (39.8) % 19,917 32,270 (38.3) %
Long-term borrowings 6,023 5,073 18.7 % 16,714 14,992 11.5 %
Total interest expense 89,768 101,559 (11.6) % 268,522 292,913 (8.3) %
Net interest income 160,486 155,560 3.2 % 468,051 457,611 2.3 %
Provision for credit losses-loans and leases 8,612 9,930 (13.3) % 26,837 39,506 (32.1) %
Provision for credit losses-unfunded commitments 453 694 (34.7) % 730 (1,279) (157.1) %
Net interest income after provision for credit losses 151,421 144,936 4.5 % 440,484 419,384 5.0 %
Noninterest income
Service charges on deposit accounts 7,829 7,547 3.7 % 23,058 21,647 6.5 %
Wealth management fees 7,351 6,910 6.4 % 23,275 20,758 12.1 %
Bankcard income 3,589 3,698 (2.9) % 10,636 10,740 (1.0) %
Client derivative fees 1,876 1,160 61.7 % 5,121 3,173 61.4 %
Foreign exchange income 16,666 12,048 38.3 % 42,970 39,270 9.4 %
Leasing business income 20,997 16,811 24.9 % 60,497 48,228 25.4 %
Net gains from sales of loans 6,835 5,021 36.1 % 17,844 13,284 34.3 %
Net gain (loss) on investment securities (42) (17,468) (99.8) % (9,748) (22,719) (57.1) %
Other 8,424 9,974 (15.5) % 19,018 19,333 (1.6) %
Total noninterest income 73,525 45,701 60.9 % 192,671 153,714 25.3 %
Noninterest expenses
Salaries and employee benefits 80,607 74,813 7.7 % 230,762 224,075 3.0 %
Net occupancy 6,003 5,919 1.4 % 17,867 17,635 1.3 %
Furniture and equipment 3,582 3,617 (1.0) % 10,836 10,951 (1.1) %
Data processing 9,591 8,857 8.3 % 27,370 26,039 5.1 %
Marketing 2,359 2,255 4.6 % 7,114 6,822 4.3 %
Communication 695 851 (18.3) % 2,188 2,462 (11.1) %
Professional services 2,314 2,303 0.5 % 8,602 7,456 15.4 %
Amortization of tax credit investments 112 32 250.0 % 335 94 256.4 %
State intangible tax 1,531 876 74.8 % 3,925 2,628 49.4 %
FDIC assessments 2,611 3,036 (14.0) % 8,281 8,473 (2.3) %
Intangible amortization 2,359 2,395 (1.5) % 7,076 7,092 (0.2) %
Leasing business expense 13,911 11,899 16.9 % 39,868 31,781 25.4 %
Other 8,594 8,906 (3.5) % 26,792 26,180 2.3 %
Total noninterest expenses 134,269 125,759 6.8 % 391,016 371,688 5.2 %
Income before income taxes 90,677 64,878 39.8 % 242,139 201,410 20.2 %
Income tax expense 18,754 12,427 50.9 % 48,927 37,465 30.6 %
Net income $ 71,923 $ 52,451 37.1 % $ 193,212 $ 163,945 17.9 %
ADDITIONAL DATA
Net earnings per share - basic $ 0.76 $ 0.56 $ 2.04 $ 1.74
Net earnings per share - diluted $ 0.75 $ 0.55 $ 2.02 $ 1.72
Dividends declared per share $ 0.25 $ 0.24 $ 0.73 $ 0.70
Return on average assets 1.54 % 1.17 % 1.40 % 1.24 %
Return on average shareholders' equity 11.08 % 8.80 % 10.26 % 9.50 %
Interest income $ 250,254 $ 257,119 (2.7) % $ 736,573 $ 750,524 (1.9) %
Tax equivalent adjustment 1,248 1,362 (8.4) % 3,707 4,315 (14.1) %
Interest income - tax equivalent 251,502 258,481 (2.7) % 740,280 754,839 (1.9) %
Interest expense 89,768 101,559 (11.6) % 268,522 292,913 (8.3) %
Net interest income - tax equivalent $ 161,734 $ 156,922 3.1 % $ 471,758 $ 461,926 2.1 %
Net interest margin 3.99 % 4.05 % 3.95 % 4.05 %
Net interest margin (fully tax equivalent) (1) 4.02 % 4.08 % 3.98 % 4.09 %
Full-time equivalent employees 1,986 2,084
(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.
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CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
2025
Third Second First Year to % Change
Quarter Quarter Quarter Date Linked Qtr.
Interest income
Loans and leases, including fees $ 204,865 $ 201,460 $ 197,163 $ 603,488 1.7 %
Investment securities
Taxable 36,421 36,243 34,401 107,065 0.5 %
Tax-exempt 2,195 2,233 2,204 6,632 (1.7) %
Total investment securities interest 38,616 38,476 36,605 113,697 0.4 %
Other earning assets 6,773 5,964 6,651 19,388 13.6 %
Total interest income 250,254 245,900 240,419 736,573 1.8 %
Interest expense
Deposits 77,766 75,484 78,641 231,891 3.0 %
Short-term borrowings 5,979 6,393 7,545 19,917 (6.5) %
Long-term borrowings 6,023 5,754 4,937 16,714 4.7 %
Total interest expense 89,768 87,631 91,123 268,522 2.4 %
Net interest income 160,486 158,269 149,296 468,051 1.4 %
Provision for credit losses-loans and leases 8,612 9,084 9,141 26,837 (5.2) %
Provision for credit losses-unfunded commitments 453 718 (441) 730 (36.9) %
Net interest income after provision for credit losses 151,421 148,467 140,596 440,484 2.0 %
Noninterest income
Service charges on deposit accounts 7,829 7,766 7,463 23,058 0.8 %
Wealth management fees 7,351 7,787 8,137 23,275 (5.6) %
Bankcard income 3,589 3,737 3,310 10,636 (4.0) %
Client derivative fees 1,876 1,674 1,571 5,121 12.1 %
Foreign exchange income 16,666 13,760 12,544 42,970 21.1 %
Leasing business income 20,997 20,797 18,703 60,497 1.0 %
Net gains from sales of loans 6,835 6,687 4,322 17,844 2.2 %
Net gain (loss) on investment securities (42) 243 (9,949) (9,748) (117.3) %
Other 8,424 5,612 4,982 19,018 50.1 %
Total noninterest income 73,525 68,063 51,083 192,671 8.0 %
Noninterest expenses
Salaries and employee benefits 80,607 74,917 75,238 230,762 7.6 %
Net occupancy 6,003 5,845 6,019 17,867 2.7 %
Furniture and equipment 3,582 3,441 3,813 10,836 4.1 %
Data processing 9,591 9,020 8,759 27,370 6.3 %
Marketing 2,359 2,737 2,018 7,114 (13.8) %
Communication 695 681 812 2,188 2.1 %
Professional services 2,314 3,549 2,739 8,602 (34.8) %
Amortization of tax credit investments 112 111 112 335 0.9 %
State intangible tax 1,531 1,517 877 3,925 0.9 %
FDIC assessments 2,611 2,611 3,059 8,281 0.0 %
Intangible amortization 2,359 2,358 2,359 7,076 0.0 %
Leasing business expense 13,911 13,155 12,802 39,868 5.7 %
Other 8,594 8,729 9,469 26,792 (1.5) %
Total noninterest expenses 134,269 128,671 128,076 391,016 4.4 %
Income before income taxes 90,677 87,859 63,603 242,139 3.2 %
Income tax expense 18,754 17,863 12,310 48,927 5.0 %
Net income $ 71,923 $ 69,996 $ 51,293 $ 193,212 2.8 %
ADDITIONAL DATA
Net earnings per share - basic $ 0.76 $ 0.74 $ 0.54 $ 2.04
Net earnings per share - diluted $ 0.75 $ 0.73 $ 0.54 $ 2.02
Dividends declared per share $ 0.25 $ 0.24 $ 0.24 $ 0.73
Return on average assets 1.54 % 1.52 % 1.13 % 1.40 %
Return on average shareholders' equity 11.08 % 11.16 % 8.46 % 10.26 %
Interest income $ 250,254 $ 245,900 $ 240,419 $ 736,573 1.8 %
Tax equivalent adjustment 1,248 1,246 1,213 3,707 0.2 %
Interest income - tax equivalent 251,502 247,146 241,632 740,280 1.8 %
Interest expense 89,768 87,631 91,123 268,522 2.4 %
Net interest income - tax equivalent $ 161,734 $ 159,515 $ 150,509 $ 471,758 1.4 %
Net interest margin 3.99 % 4.01 % 3.84 % 3.95 %
Net interest margin (fully tax equivalent) (1) 4.02 % 4.05 % 3.88 % 3.98 %
Full-time equivalent employees 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.
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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.
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CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, % Change % Change
2025 2025 2025 2024 2024 Linked Qtr. Comp Qtr.
ASSETS
Cash and due from banks $ 174,659 $ 210,187 $ 190,610 $ 174,258 $ 190,618 (16.9) % (8.4) %
Interest-bearing deposits with other banks 565,080 570,173 633,349 730,228 660,576 (0.9) % (14.5) %
Investment securities available-for-sale 3,422,595 3,386,562 3,260,981 3,183,776 3,157,265 1.1 % 8.4 %
Investment securities held-to-maturity 71,595 72,994 76,469 76,960 77,985 (1.9) % (8.2) %
Other investments 117,120 122,322 120,826 114,598 120,318 (4.3) % (2.7) %
Loans held for sale 21,466 26,504 17,927 13,181 12,685 (19.0) % 69.2 %
Loans and leases
Commercial and industrial 3,838,630 3,927,771 3,832,350 3,815,858 3,678,546 (2.3) % 4.4 %
Lease financing 596,734 587,176 573,608 598,045 587,415 1.6 % 1.6 %
Construction real estate 627,960 732,777 824,775 779,446 802,264 (14.3) % (21.7) %
Commercial real estate 4,048,370 3,961,513 3,956,880 4,061,744 4,034,820 2.2 % 0.3 %
Residential real estate 1,494,464 1,492,688 1,479,704 1,462,284 1,422,186 0.1 % 5.1 %
Home equity 935,975 903,299 872,502 849,039 825,431 3.6 % 13.4 %
Installment 109,764 116,598 119,672 133,051 141,270 (5.9) % (22.3) %
Credit card 62,654 64,374 64,639 62,311 61,140 (2.7) % 2.5 %
Total loans 11,714,551 11,786,196 11,724,130 11,761,778 11,553,072 (0.6) % 1.4 %
Less:
Allowance for credit losses (161,916) (158,522) (155,482) (156,791) (158,831) 2.1 % 1.9 %
Net loans 11,552,635 11,627,674 11,568,648 11,604,987 11,394,241 (0.6) % 1.4 %
Premises and equipment 198,251 197,741 197,968 197,965 196,692 0.3 % 0.8 %
Operating leases 214,667 217,100 213,648 209,119 201,080 (1.1) % 6.8 %
Goodwill 1,007,656 1,007,656 1,007,656 1,007,656 1,007,656 0.0 % 0.0 %
Other intangibles 73,797 75,458 77,002 79,291 81,547 (2.2) % (9.5) %
Accrued interest and other assets 1,134,985 1,119,884 1,089,983 1,178,242 1,045,669 1.3 % 8.5 %
Total Assets $ 18,554,506 $ 18,634,255 $ 18,455,067 $ 18,570,261 $ 18,146,332 (0.4) % 2.2 %
LIABILITIES
Deposits
Interest-bearing demand $ 2,983,132 $ 3,057,232 $ 3,004,601 $ 3,095,724 $ 2,884,971 (2.4) % 3.4 %
Savings 5,029,097 4,979,124 4,886,613 4,948,768 4,710,223 1.0 % 6.8 %
Time 3,293,707 3,201,711 3,144,440 3,152,265 3,244,861 2.9 % 1.5 %
Total interest-bearing deposits 11,305,936 11,238,067 11,035,654 11,196,757 10,840,055 0.6 % 4.3 %
Noninterest-bearing 3,127,512 3,131,926 3,161,302 3,132,381 3,107,699 (0.1) % 0.6 %
Total deposits 14,433,448 14,369,993 14,196,956 14,329,138 13,947,754 0.4 % 3.5 %
FHLB short-term borrowings 550,000 680,000 735,000 625,000 765,000 (19.1) % (28.1) %
Other 45,167 4,699 64,792 130,452 46,653 861.2 % (3.2) %
Total short-term borrowings 595,167 684,699 799,792 755,452 811,653 (13.1) % (26.7) %
Long-term debt 221,823 344,955 345,878 347,509 344,086 (35.7) % (35.5) %
Total borrowed funds 816,990 1,029,654 1,145,670 1,102,961 1,155,739 (20.7) % (29.3) %
Accrued interest and other liabilities 672,213 676,453 611,206 700,121 592,401 (0.6) % 13.5 %
Total Liabilities 15,922,651 16,076,100 15,953,832 16,132,220 15,695,894 (1.0) % 1.4 %
SHAREHOLDERS' EQUITY
Common stock 1,641,315 1,638,796 1,637,041 1,642,055 1,639,045 0.2 % 0.1 %
Retained earnings 1,399,577 1,351,674 1,304,636 1,276,329 1,234,375 3.5 % 13.4 %
Accumulated other comprehensive income (loss) (223,000) (246,384) (253,888) (289,799) (232,262) (9.5) % (4.0) %
Treasury stock, at cost (186,037) (185,931) (186,554) (190,544) (190,720) 0.1 % (2.5) %
Total Shareholders' Equity 2,631,855 2,558,155 2,501,235 2,438,041 2,450,438 2.9 % 7.4 %
Total Liabilities and Shareholders' Equity $ 18,554,506 $ 18,634,255 $ 18,455,067 $ 18,570,261 $ 18,146,332 (0.4) % 2.2 %
FIRST FINANCIAL BANCORP.
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AVERAGE CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
Quarterly Averages Year-to-Date Averages
Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, Sep. 30,
2025 2025 2025 2024 2024 2025 2024
ASSETS
Cash and due from banks $ 165,210 $ 174,375 $ 164,734 $ 182,242 $ 179,321 $ 168,108 $ 185,934
Interest-bearing deposits with other banks 610,074 542,815 615,812 654,251 483,880 589,546 545,402
Investment securities 3,552,014 3,478,921 3,411,593 3,372,539 3,274,498 3,481,357 3,181,575
Loans held for sale 26,366 25,026 10,212 17,284 16,399 20,594 14,189
Loans and leases
Commercial and industrial 3,890,886 3,881,001 3,787,207 3,727,549 3,723,761 3,853,411 3,661,335
Lease financing 592,510 581,091 585,119 587,110 550,634 586,267 513,779
Construction real estate 711,011 784,028 797,100 826,936 763,779 763,731 684,136
Commercial real estate 3,993,549 3,958,730 4,018,211 4,045,347 4,059,939 3,990,073 4,102,491
Residential real estate 1,489,942 1,485,479 1,475,703 1,442,799 1,399,932 1,483,760 1,366,062
Home equity 919,368 891,761 858,153 837,863 811,265 889,985 789,101
Installment 114,058 117,724 127,192 136,927 143,102 119,610 150,811
Credit card 68,375 68,000 65,830 66,071 65,189 67,411 65,816
Total loans 11,779,699 11,767,814 11,714,515 11,670,602 11,517,601 11,754,248 11,333,531
Less:
Allowance for credit losses (162,417) (158,170) (158,206) (161,477) (159,252) (159,613) (150,322)
Net loans 11,617,282 11,609,644 11,556,309 11,509,125 11,358,349 11,594,635 11,183,209
Premises and equipment 199,167 198,407 198,998 197,664 197,881 198,858 198,484
Operating leases 217,404 212,684 205,181 202,110 180,118 211,801 163,803
Goodwill 1,007,656 1,007,656 1,007,656 1,007,658 1,007,654 1,007,656 1,007,264
Other intangibles 74,448 76,076 78,220 80,486 82,619 76,234 83,764
Accrued interest and other assets 1,096,567 1,093,833 1,119,889 1,050,060 1,073,472 1,103,344 1,066,750
Total Assets $ 18,566,188 $ 18,419,437 $ 18,368,604 $ 18,273,419 $ 17,854,191 $ 18,452,133 $ 17,630,374
LIABILITIES
Deposits
Interest-bearing demand $ 3,036,296 $ 3,066,986 $ 3,090,526 $ 3,081,148 $ 2,914,934 $ 3,064,404 $ 2,899,707
Savings 5,054,563 5,005,526 4,918,004 4,886,784 4,694,923 4,993,198 4,571,236
Time 3,296,789 3,139,182 3,141,103 3,209,078 3,080,408 3,192,928 2,958,595
Total interest-bearing deposits 11,387,648 11,211,694 11,149,633 11,177,010 10,690,265 11,250,530 10,429,538
Noninterest-bearing 3,124,277 3,143,081 3,091,037 3,162,643 3,106,239 3,119,587 3,139,939
Total deposits 14,511,925 14,354,775 14,240,670 14,339,653 13,796,504 14,370,117 13,569,477
Federal funds purchased and securities sold
under agreements to repurchase 12,434 4,780 2,055 2,282 10,807 6,461 5,274
FHLB short-term borrowings 497,092 532,198 553,667 415,652 626,490 527,445 647,187
Other 21,519 26,226 99,378 93,298 76,859 48,756 128,112
Total short-term borrowings 531,045 563,204 655,100 511,232 714,156 582,662 780,573
Long-term debt 292,301 347,369 346,237 343,851 339,581 328,438 340,513
Total borrowed funds 823,346 910,573 1,001,337 855,083 1,053,737 911,100 1,121,086
Accrued interest and other liabilities 655,714 638,342 668,812 637,638 632,825 654,241 633,664
Total Liabilities 15,990,985 15,903,690 15,910,819 15,832,374 15,483,066 15,935,458 15,324,227
SHAREHOLDERS' EQUITY
Common stock 1,639,986 1,637,782 1,641,016 1,640,280 1,637,045 1,639,591 1,636,357
Retained earnings 1,369,069 1,322,168 1,282,300 1,249,263 1,210,924 1,324,830 1,178,518
Accumulated other comprehensive loss (247,746) (257,873) (275,068) (257,792) (285,978) (260,129) (315,731)
Treasury stock, at cost (186,106) (186,330) (190,463) (190,706) (190,866) (187,617) (192,997)
Total Shareholders' Equity 2,575,203 2,515,747 2,457,785 2,441,045 2,371,125 2,516,675 2,306,147
Total Liabilities and Shareholders' Equity $ 18,566,188 $ 18,419,437 $ 18,368,604 $ 18,273,419 $ 17,854,191 $ 18,452,133 $ 17,630,374
FIRST FINANCIAL BANCORP.
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NET INTEREST MARGIN RATE/VOLUME ANALYSIS
(Dollars in thousands)
(Unaudited)
Quarterly Averages Year-to-Date Averages
September 30, 2025 June 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024
Balance Interest Yield Balance Interest Yield Balance Interest Yield Balance Yield Balance Yield
Earning assets
Investments:
Investment securities $ 3,552,014 $ 38,616 4.31 % $ 3,478,921 $ 38,476 4.44 % $ 3,274,498 $ 34,983 4.24 % $ 3,481,357 4.37 % $ 3,181,575 4.18 %
Interest-bearing deposits with other banks 610,074 6,773 4.40 % 542,815 5,964 4.41 % 483,880 6,703 5.50 % 589,546 4.40 % 545,402 5.42 %
Gross loans (1) 11,806,065 204,865 6.88 % 11,792,840 201,460 6.85 % 11,534,000 215,433 7.41 % 11,774,842 6.85 % 11,347,720 7.41 %
Total earning assets 15,968,153 250,254 6.22 % 15,814,576 245,900 6.24 % 15,292,378 257,119 6.67 % 15,845,745 6.21 % 15,074,697 6.66 %
Nonearning assets
Allowance for credit losses (162,417) (158,170) (159,252) (159,613) (150,322)
Cash and due from banks 165,210 174,375 179,321 168,108 185,934
Accrued interest and other assets 2,595,242 2,588,656 2,541,744 2,597,893 2,520,065
Total assets $ 18,566,188 $ 18,419,437 $ 17,854,191 $ 18,452,133 $ 17,630,374
Interest-bearing liabilities
Deposits:
Interest-bearing demand $ 3,036,296 $ 14,592 1.91 % $ 3,066,986 $ 14,139 1.85 % $ 2,914,934 $ 15,919 2.17 % $ 3,064,404 1.92 % $ 2,899,707 2.11 %
Savings 5,054,563 30,854 2.42 % 5,005,526 29,942 2.40 % 4,694,923 34,220 2.89 % 4,993,198 2.44 % 4,571,236 2.83 %
Time 3,296,789 32,320 3.89 % 3,139,182 31,403 4.01 % 3,080,408 36,415 4.69 % 3,192,928 4.05 % 2,958,595 4.66 %
Total interest-bearing deposits 11,387,648 77,766 2.71 % 11,211,694 75,484 2.70 % 10,690,265 86,554 3.21 % 11,250,530 2.76 % 10,429,538 3.15 %
Borrowed funds
Short-term borrowings 531,045 5,979 4.47 % 563,204 6,393 4.55 % 714,156 9,932 5.52 % 582,662 4.57 % 780,573 5.53 %
Long-term debt 292,301 6,023 8.17 % 347,369 5,754 6.64 % 339,581 5,073 5.93 % 328,438 6.80 % 340,513 5.89 %
Total borrowed funds 823,346 12,002 5.78 % 910,573 12,147 5.35 % 1,053,737 15,005 5.65 % 911,100 5.38 % 1,121,086 5.64 %
Total interest-bearing liabilities 12,210,994 89,768 2.92 % 12,122,267 87,631 2.90 % 11,744,002 101,559 3.43 % 12,161,630 2.95 % 11,550,624 3.39 %
Noninterest-bearing liabilities
Noninterest-bearing demand deposits 3,124,277 3,143,081 3,106,239 3,119,587 3,139,939
Other liabilities 655,714 638,342 632,825 654,241 633,664
Shareholders' equity 2,575,203 2,515,747 2,371,125 2,516,675 2,306,147
Total liabilities & shareholders' equity $ 18,566,188 $ 18,419,437 $ 17,854,191 $ 18,452,133 $ 17,630,374
Net interest income $ 160,486 $ 158,269 $ 155,560 $ 468,051 $ 457,611
Net interest spread 3.30 % 3.34 % 3.24 % 3.26 % 3.27 %
Net interest margin 3.99 % 4.01 % 4.05 % 3.95 % 4.05 %
Tax equivalent adjustment 0.03 % 0.04 % 0.03 % 0.03 % 0.04 %
Net interest margin (fully tax equivalent) 4.02 % 4.05 % 4.08 % 3.98 % 4.09 %
(1) Loans held for sale and nonaccrual loans are included in gross loans.
FIRST FINANCIAL BANCORP.
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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 $ (1,066) $ 1,206 $ 140 $ 616 $ 3,017 $ 3,633 $ 4,536 $ 9,791 $ 14,327
Interest-bearing deposits with other banks (3) 812 809 (1,331) 1,401 70 (4,185) 1,452 (2,733)
Gross loans (2) 951 2,454 3,405 (15,289) 4,721 (10,568) (47,436) 21,891 (25,545)
Total earning assets (118) 4,472 4,354 (16,004) 9,139 (6,865) (47,085) 33,134 (13,951)
Interest-bearing liabilities
Total interest-bearing deposits $ 248 $ 2,034 $ 2,282 $ (13,550) $ 4,762 $ (8,788) $ (30,682) $ 16,922 $ (13,760)
Borrowed funds
Short-term borrowings (121) (293) (414) (1,891) (2,062) (3,953) (5,588) (6,765) (12,353)
Long-term debt 1,326 (1,057) 269 1,924 (974) 950 2,336 (614) 1,722
Total borrowed funds 1,205 (1,350) (145) 33 (3,036) (3,003) (3,252) (7,379) (10,631)
Total interest-bearing liabilities 1,453 684 2,137 (13,517) 1,726 (11,791) (33,934) 9,543 (24,391)
Net interest income (1) $ (1,571) $ 3,788 $ 2,217 $ (2,487) $ 7,413 $ 4,926 $ (13,151) $ 23,591 $ 10,440
(1) Not tax equivalent.
(2) Loans held for sale and nonaccrual loans are included in gross loans.
FIRST FINANCIAL BANCORP.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
CREDIT QUALITY
(Dollars in thousands)
(Unaudited)
Three Months Ended, Nine months ended,
Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, Sep. 30, Sep. 30,
2025 2025 2025 2024 2024 2025 2024
ALLOWANCE FOR CREDIT LOSS ACTIVITY
Balance at beginning of period $ 158,522 $ 155,482 $ 156,791 $ 158,831 $ 156,185 $ 156,791 $ 141,433
Provision for credit losses 8,612 9,084 9,141 9,705 9,930 26,837 39,506
Gross charge-offs
Commercial and industrial 2,165 4,996 8,178 4,333 5,471 15,339 10,315
Lease financing 298 606 1,454 2,831 368 2,358 561
Construction real estate 245 0 0 0 0 245 0
Commercial real estate 3,105 0 0 5,051 261 3,105 5,582
Residential real estate 0 16 0 12 60 16 131
Home equity 92 100 86 210 90 278 237
Installment 1,194 1,120 1,321 1,680 1,510 3,635 5,780
Credit card 577 489 474 492 768 1,540 2,094
Total gross charge-offs 7,676 7,327 11,513 14,609 8,528 26,516 24,700
Recoveries
Commercial and industrial 202 290 195 1,779 434 687 832
Lease financing 291 11 29 17 11 331 71
Construction real estate 0 0 0 0 0 0 0
Commercial real estate 1,138 70 24 19 25 1,232 200
Residential real estate 58 42 24 23 22 124 83
Home equity 94 74 144 222 240 312 438
Installment 609 716 563 499 421 1,888 785
Credit card 66 80 84 305 91 230 183
Total recoveries 2,458 1,283 1,063 2,864 1,244 4,804 2,592
Total net charge-offs 5,218 6,044 10,450 11,745 7,284 21,712 22,108
Ending allowance for credit losses $ 161,916 $ 158,522 $ 155,482 $ 156,791 $ 158,831 $ 161,916 $ 158,831
NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)
Commercial and industrial 0.20 % 0.49 % 0.85 % 0.27 % 0.54 % 0.51 % 0.35 %
Lease financing 0.00 % 0.41 % 0.99 % 1.91 % 0.26 % 0.46 % 0.13 %
Construction real estate 0.14 % 0.00 % 0.00 % 0.00 % 0.00 % 0.04 % 0.00 %
Commercial real estate 0.20 % (0.01) % 0.00 % 0.49 % 0.02 % 0.06 % 0.18 %
Residential real estate (0.02) % (0.01) % (0.01) % 0.00 % 0.01 % (0.01) % 0.00 %
Home equity 0.00 % 0.01 % (0.03) % (0.01) % (0.07) % (0.01) % (0.03) %
Installment 2.03 % 1.38 % 2.42 % 3.43 % 3.03 % 1.95 % 4.42 %
Credit card 2.97 % 2.41 % 2.40 % 1.13 % 4.13 % 2.60 % 3.88 %
Total net charge-offs 0.18 % 0.21 % 0.36 % 0.40 % 0.25 % 0.25 % 0.26 %
COMPONENTS OF NONACCRUAL LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans
Commercial and industrial $ 23,832 $ 24,489 $ 7,649 $ 6,641 $ 10,703 $ 23,832 $ 10,703
Lease financing 5,885 6,243 6,487 6,227 11,632 5,885 11,632
Construction real estate 1,120 1,365 0 0 0 1,120 0
Commercial real estate 24,443 23,905 25,736 32,303 23,608 24,443 23,608
Residential real estate 16,452 16,995 16,044 16,700 14,596 16,452 14,596
Home equity 3,567 3,226 2,920 3,418 4,074 3,567 4,074
Installment 652 701 719 684 826 652 826
Total nonaccrual loans 75,951 76,924 59,555 65,973 65,439 75,951 65,439
Other real estate owned (OREO) 111 204 213 64 30 111 30
Total nonperforming assets 76,062 77,128 59,768 66,037 65,469 76,062 65,469
Accruing loans past due 90 days or more 592 714 228 361 463 592 463
Total underperforming assets $ 76,654 $ 77,842 $ 59,996 $ 66,398 $ 65,932 $ 76,654 $ 65,932
Total classified assets $ 218,794 $ 214,346 $ 213,351 $ 224,084 $ 206,194 $ 218,794 $ 206,194
CREDIT QUALITY RATIOS
Allowance for credit losses to
Nonaccrual loans 213.18 % 206.08 % 261.07 % 237.66 % 242.72 % 213.18 % 242.72 %
Total ending loans 1.38 % 1.34 % 1.33 % 1.33 % 1.37 % 1.38 % 1.37 %
Nonaccrual loans to total loans 0.65 % 0.65 % 0.51 % 0.56 % 0.57 % 0.65 % 0.57 %
Nonperforming assets to
Ending loans, plus OREO 0.65 % 0.65 % 0.51 % 0.56 % 0.57 % 0.65 % 0.57 %
Total assets 0.41 % 0.41 % 0.32 % 0.36 % 0.36 % 0.41 % 0.36 %
Classified assets to total assets 1.18 % 1.15 % 1.16 % 1.21 % 1.14 % 1.18 % 1.14 %
FIRST FINANCIAL BANCORP.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
CAPITAL ADEQUACY
(Dollars in thousands, except per share data)
(Unaudited)
Three Months Ended, Nine months ended,
Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, Sep. 30, Sep. 30,
2025 2025 2025 2024 2024 2025 2024
PER COMMON SHARE
Market Price
High $ 26.79 $ 25.19 $ 29.04 $ 30.34 $ 28.09 $ 29.04 $ 28.09
Low $ 23.55 $ 22.05 $ 24.25 $ 23.98 $ 21.70 $ 22.05 $ 20.79
Close $ 25.25 $ 24.26 $ 24.98 $ 26.88 $ 25.23 $ 25.25 $ 25.23
Average shares outstanding - basic 94,889,341 94,860,428 94,645,787 94,486,838 94,473,666 94,799,411 94,377,010
Average shares outstanding - diluted 95,753,798 95,741,696 95,524,262 95,487,564 95,479,510 95,674,093 95,378,238
Ending shares outstanding 95,757,250 95,760,617 95,730,353 95,494,840 95,486,317 95,757,250 95,486,317
Total shareholders' equity $ 2,631,855 $ 2,558,155 $ 2,501,235 $ 2,438,041 $ 2,450,438 $ 2,631,855 $ 2,450,438
REGULATORY CAPITAL Preliminary Preliminary
Common equity tier 1 capital $ 1,828,843 $ 1,776,038 $ 1,724,134 $ 1,709,422 $ 1,661,759 $ 1,828,843 $ 1,661,759
Common equity tier 1 capital ratio 12.91 % 12.57 % 12.29 % 12.16 % 12.04 % 12.91 % 12.04 %
Tier 1 capital $ 1,874,191 $ 1,821,316 $ 1,769,357 $ 1,754,584 $ 1,706,796 $ 1,874,191 $ 1,706,796
Tier 1 ratio 13.23 % 12.89 % 12.61 % 12.48 % 12.37 % 13.23 % 12.37 %
Total capital $ 2,170,521 $ 2,116,180 $ 2,090,211 $ 2,057,877 $ 2,012,349 $ 2,170,521 $ 2,012,349
Total capital ratio 15.32 % 14.98 % 14.90 % 14.64 % 14.58 % 15.32 % 14.58 %
Total capital in excess of minimum requirement $ 683,203 $ 632,563 $ 617,347 $ 581,659 $ 563,273 $ 683,203 $ 563,273
Total risk-weighted assets $ 14,164,934 $ 14,129,683 $ 14,027,274 $ 14,059,215 $ 13,800,728 $ 14,164,934 $ 13,800,728
Leverage ratio 10.50 % 10.28 % 10.01 % 9.98 % 9.93 % 10.50 % 9.93 %
OTHER CAPITAL RATIOS
Ending shareholders' equity to ending assets 14.18 % 13.73 % 13.55 % 13.13 % 13.50 % 14.18 % 13.50 %
Ending tangible shareholders' equity to ending tangible assets (1) 8.87 % 8.40 % 8.16 % 7.73 % 7.98 % 8.87 % 7.98 %
Average shareholders' equity to average assets 13.87 % 13.66 % 13.38 % 13.36 % 13.28 % 13.64 % 13.08 %
Average tangible shareholders' equity to average tangible assets (1) 8.54 % 8.26 % 7.94 % 7.87 % 7.64 % 8.25 % 7.35 %
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

11

exh992earningsrelease3q2

earnings presentation • Third 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; • the adverse impact on the U.S. economy, including the markets in which we operate, of the novel coronavirus, which causes the Coronavirus disease 2019 (“COVID-19”), global pandemic, and the impact on the performance of our loan and lease portfolio, the market value of our investment securities, the availability of sources of funding and the demand for our products; • our capital and liquidity requirements (including under regulatory capital standards, such as the Basel III capital standards) and our ability to generate capital internally or raise capital on favorable terms;

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.

3Q 2025 results 140th Consecutive Quarter of Profitability 4 • EOP assets decreased $79.7 million compared to the linked quarter to $18.6 billion • EOP loans decreased $71.6 million compared to the linked quarter to $11.7 billion • Average deposits increased $157.2 million compared to the linked quarter to $14.5 billion • EOP investment securities increased $34.6 million compared to the linked quarter Balance Sheet Profitability Asset Quality Income Statement Capital • Noninterest income – $73.5 million; $73.6 million as adjusted1 • Noninterest expense – $134.3 million; $133.3 million as adjusted1 • Efficiency ratio – 57.4%. Adjusted1 efficiency ratio – 57.0% • Effective tax rate of 20.7%. Adjusted1 effective tax rate of 20.8% • Net interest income – $160.5 million • Net interest margin of 3.99% on a GAAP basis; 4.02% on a fully tax equivalent basis1 • Net income – $71.9 million or $0.75 per diluted share. Adjusted1 net income – $72.6 million or $0.76 per diluted share • Return on average assets – 1.54%. Adjusted 1 return on average assets – 1.55% • Return on average shareholders’ equity – 11.08%. Adjusted1 return on average shareholders’ equity – 11.19% • Return on average tangible common equity – 19.11%. Adjusted1 return on average tangible common equity – 19.29% • Provision expense – $9.1 million • Net charge-offs – $5.2 million. NCOs / Avg. Loans – 0.18% annualized • Classified Assets / Total Assets – 1.18% • NPA / Total Assets – 0.41% • ACL / Total Loans – 1.38% • Total capital ratio – 15.32% • Tier 1 common equity ratio – 12.91% • Tangible common equity ratio – 8.87%. Adjusted1 tangible common equity ratio – 10.15% • Tangible book value per share – $16.19 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation.

3Q 2025 highlights • Strong quarterly earnings driven by robust net interest margin and record noninterest income • Adjusted1 earnings per share – $0.76 • Adjusted1 return on assets – 1.55% • Adjusted1 pre-tax, pre-provision return on assets – 2.15% • Adjusted1 return on average tangible common equity – 19.3% • Slight decline in loan balances during the quarter • EOP loan balances decreased $71.6 million compared to the linked quarter • Quarterly decrease driven by lower production in our specialty businesses, along with a greater percentage of construction originations, which fund over time • Average loan balances increased 0.4% on an annualized basis compared to linked quarter • Total average deposit balances increased $157.2 million, or 4.3% on an annualized basis • Growth in interest bearing deposits, money markets, retail CDs, and brokered deposits offset by declines in noninterest bearing, savings, and public funds • $165.8 million increase in brokered deposits • Average noninterest bearing deposits were 21% of average total deposits • Net interest margin (FTE) of 4.02% decreased 3 bps from linked quarter • 1 bp increase in cost of funds • 2 bp decrease in asset yields • Record noninterest income of $73.5 million; $73.6 million as adjusted1 • Leasing business income remains strong at $21.0 million • Foreign exchange income increased 21.1% to $16.7 million • Other noninterest income increased $2.8 million due to higher syndication fees and higher income on other investments 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. .

3Q 2025 highlights • Adjusted1 noninterest expense of $133.3 million; 4.5% increase from second quarter • Third quarter adjustments1 include $0.8 million of efficiency and acquisition related costs • Increase driven by incentive compensation tied to record fee income • Efficiency ratio of 57.4%; 57.0% as adjusted1 • Stable credit quality • Total ACL of $179.5 million; provision expense of $9.1 million o Loans and leases - ACL of $161.9 million; 1.38% of total loans; 4 bp increase compared to prior quarter o Unfunded Commitments - ACL of $17.6 million • $5.2 million in net charge-offs; 0.18% of loans on an annualized basis; 3 bp decline from linked quarter • Nonperforming assets remained steady at 0.41% of total assets • Capital ratios remain strong • Total capital ratio of 15.32%; 34 bp increase from linked quarter • Tier 1 common equity of 12.91%; 34 bp increase from linked quarter • Tangible book value of $16.19; increased $0.79, or 5.1% from linked quarter • Tangible common equity increased 47 bps to 8.87%; 10.15%1 excluding ($223.0) 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 160,486$ 160,486$ 158,269$ 158,269$ Provision for credit losses-loans and leases 8,612$ 8,612$ 9,084$ 9,084$ Provision for credit losses-unfunded commitments 453$ 453$ 718$ 718$ Noninterest income 73,525$ 73,525$ 68,063$ 68,063$ less: gains (losses) on security transactions - (42) A - 242 A Total noninterest income 73,525$ 73,567$ 68,063$ 67,821$ Noninterest expense 134,269$ 134,269$ 128,671$ 128,671$ less: tax credit investment writedown - 112 A - 111 A less: efficiency-related costs - 228 A - 1,016 A less: other - 599 A - (56) A Total noninterest expense 134,269$ 133,330$ 128,671$ 127,600$ Income before income taxes 90,677$ 91,658$ 87,859$ 88,688$ Income tax expense 18,754$ 18,754$ 17,863$ 17,863$ plus: after-tax impact of tax credit investment @ 21% - 89 - 88 plus: tax effect of adjustments (A) @ 21% statutory rate - 206 - 174 Total income tax expense 18,754$ 19,049$ 17,863$ 18,125$ Net income 71,923$ 72,609$ 69,996$ 70,563$ Net earnings per share - diluted 0.75$ 0.76$ 0.73$ 0.74$ Pre-tax, pre-provision return on average assets 2.13% 2.15% 2.13% 2.14% 3Q 2025 2Q 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. 1 $0.75$0.73 $0.54 $0.68 $0.55 $0.76 $0.74 $0.63 $0.71 $0.67 3Q252Q251Q254Q243Q24 Diluted EPS Adjusted EPS 1 1.54%1.52% 1.13% 1.41% 1.17% 1.55%1.54% 1.33% 1.47%1.42% 3Q252Q251Q254Q243Q24 ROA Adjusted ROA 1 19.11%19.61% 15.16% 19.08% 16.29% 19.29%19.76% 17.80% 19.90%19.77% 3Q252Q251Q254Q243Q24 ROATCE Adjusted ROATCE 1 $100.7$98.5 $83.7$93.2$89.7 2.15%2.14% 1.85% 2.03%2.00% 3Q252Q251Q254Q243Q24 Pre-tax, pre-provision earnings Pre-tax, pre-provision ROA 1 Adjusted1 Pre-tax, Pre-Provision Earnings 1

net interest income & margin 9 3Q25 NIM (FTE) Progression Net Interest Income All dollars shown in millions $154.9$153.8 $145.6$149.2$151.0 $5.1$4.0 $3.1 $4.7$3.8 $160.5$158.3 $149.3 $154.4$155.6 3Q252Q251Q254Q243Q24 Basic NII Loan Fees 3.89%3.95% 3.80%3.82% 3.98% 0.13%0.10% 0.08%0.12% 0.10% 4.02%4.05% 3.88%3.94% 4.08% 3Q252Q251Q254Q243Q24 Basic Margin (FTE) Loan Fees Net Interest Margin (FTE) 2Q25 4.05% Asset yields/mix -0.02% Funding costs/mix -0.01% 3Q25 4.02%

average balance sheet 10 Average Securities All dollars shown in millions 1 Includes loans fees and loan accretion Average Deposits Average Loans $3,552$3,479$3,412$3,373$3,274 4.31% 4.44% 4.35% 4.28%4.24% 3Q252Q251Q254Q243Q24 Investment Securities Investment Securities Yield $11,806$11,793$11,725$11,688$11,534 6.88% 6.85%6.82% 7.04% 7.41% 3Q252Q251Q254Q243Q24 Loans Loan Yield $14,512$14,355$14,241$14,340 $13,797 2.13%2.11% 2.24% 2.36% 2.49% 3Q252Q251Q254Q243Q24 Deposits Cost of Deposits

11 Borrowing Capacity • Interest-bearing deposits with other banks of $565 million • Investment securities portfolio: • 98.0% of investment portfolio classified as available-for-sale • $727.6 million of expected cash flow from securities portfolio in next 12 months • $343.1 million of floating rate securities with minimal losses • Portfolio duration of 4.3 years at September 30, 2025 borrowing capacity & cash/investment liquidity Cash/Investment Liquidity All dollars shown in thousands FHLB borrowing availability 1,131,632$ Fed Discount Window availability 862,800 Brokered CDs/Deposit placement services 2,323,756 Fed funds 985,000 Total as of September 30, 2025 5,303,189$

loan portfolio 12 Loan LOB Mix (EOP) Net Loan Change-LOB (Linked Quarter) All dollars shown in millions Total growth/(decline): ($71.6) million ICRE $3,583 31% Commercial & Small Business Banking $3,490 30% Oak Street $733 6% Summit $959 8% Agile $254 2% Consumer $1,090 9% Mortgage $1,606 14% Total $11.7 billion -$37.7 -$29.9 -$46.5 $28.2 -$2.2 $24.9 -$8.4 ICRE Commercial & Small Business Banking Oak Street Summit Agile Consumer Mortgage

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 9/30/25 % of Total Loans Finance and Insurance $1,134.4 9.7% Manufacturing 539.6 4.6% Construction 379.1 3.2% Real Estate and Rental and Leasing 346.0 3.0% Professional, Scientific, and Technical Services 289.6 2.5% Health Care and Social Assistance 282.0 2.4% Accommodation and Food Services 254.3 2.2% Retail Trade 235.3 2.0% Wholesale Trade 213.1 1.8% Agriculture, Forestry, Fishing and Hunting 163.7 1.4% Transportation and Warehousing 142.8 1.2% Administrative and Support and Waste Managemen 141.2 1.2% Other Services (except Public Administration) 118.4 1.0% Arts, Entertainment, and Recreation 77.0 0.7% Information 63.9 0.5% Public Administration 59.3 0.5% Utilities 33.0 0.3% Educational Services 28.2 0.2% Management of Companies and Enterprises 26.4 0.2% Mining, Quarrying, and Oil and Gas Extraction 13.9 0.1% Other 4.8 0.0% Grand Total $4,546.1 38.8% Property Type 9/30/25 % of Total Loans Residential Multi Family 5+ $1,342.2 11.5% Retail Property 809.6 6.9% Industrial 415.8 3.5% Office 366.7 3.1% Hospital/Nursing Home 256.6 2.2% Hotel 135.6 1.2% Land 107.5 0.9% Residential 1-4 Family 87.8 0.7% Other Real Estate 48.5 0.4% Self Storage 11.7 0.1% Agriculture 0.4 0.0% Other 0.0 0.0% Grand Total $3,582.5 30.6%

deposits 14 Deposit Product Mix (Avg) 3Q25 Average Deposit Progression All dollars shown in millions Total growth/(decline): $157.2 million Noninterest- bearing $3,002 21% Interest-bearing demand $1,786 12% Savings $994 7% Money Market $3,337 23% Retail CDs $1,968 13% Brokered Deposits $1,416 10% Public Funds $2,009 14% Total $14.5 billion -$11.9 $38.3 -$9.9 $106.4 $10.3 $165.8 -$141.8 Noninterest-bearing Interest-bearing demand Savings Money Market Retail CDs Brokered Deposits Public Funds

average deposit trends 15 All dollars shown in millions Business Public Funds Personal Uninsured Deposits $6,684$6,696$6,665$6,520$6,330 3Q252Q251Q254Q243Q24 $4,307$4,163$4,190$4,207$3,974 3Q252Q251Q254Q243Q24 $2,009$2,151$2,066$2,129$1,937 3Q252Q251Q254Q243Q24 Uninsured deposits (per call report instructions) 6,073$ Less: Public funds 1,766 Less: Intercompany deposits 556 Adjusted uninsured deposits 3,751 Borrowing capacity 5,303 Borrowing capacity in excess of adjusted uninsured deposits $ 1,552 Borrowing capacity as a % of adjusted uninsured deposits 141.4% Adjusted uninsured deposits to total deposits 26.0%

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. 3Q25 Highlights • Adjusted1 noninterest income 31% of net revenue • Foreign exchange income of $16.7 million; increased $2.9 million, or 21.1% from linked quarter • Mortgage banking income of $6.8 million; increased $0.1 million , or 2.2% from linked quarter • Leasing business income of $21.0 million; increased $0.2 million, or 1.0% from the linked quarter • Other income of $8.4 million; increased $2.8 million, or 50.1% from the linked quarter All dollars shown in millions Service Charges $7.8 11% Wealth Mgmt $7.4 10% Bankcard $3.6 5% Client derivative fees $1.9 2% Foreign exchange $16.7 23% Leasing business $21.0 29% Mortgage banking $6.8 9% Other $8.4 11% Total $73.5 million $73.6 million as adjusted 1

noninterest expense 17 Noninterest Expense 3Q25 Highlights 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 millions • Adjusted1 noninterest expense increased $5.7 million, or 4.5% from linked quarter • Efficiency ratio of 57.4%; 57.0% as adjusted1 • Increase driven by incentive compensation tied to fee income • $0.9 million of adjustments1 include: • $0.1 million of tax credit investment writedowns • $0.8 million of other costs not expected to recur such as efficiency and acquisition related costs Full-time Equivalent Employees Salaries and benefits $80.6 60% Occupancy and equipment $9.6 7% Data processing $9.6 7% Professional services $2.3 2% Intangible amortization $2.4 2% Leasing business expense $13.9 10% Other $15.9 12% $134.3 million 1,986 2,033 2,021 2,064 2,084 3Q252Q251Q254Q243Q24 Full-time equivalent employees 62.5% 66.0% 63.9% 56.9% 57.4%58.2% 58.4% 60.2% 56.4% 57.0% 3Q24 4Q24 1Q25 2Q25 3Q25 Efficiency Ratio Adjusted Efficiency Ratio1 Efficiency Ratio

allowance for credit losses 18 3Q25 Highlights All dollars shown in millions • $179.5 million combined ACL; $9.1 million combined provision expense • $161.9 million ACL – loans and leases; 1.38% of loan balances • Utilized Moody’s September baseline forecast in quantitative model • $17.6 million ACL – unfunded commitments ACL / Total Loans $158.8 $156.8 $155.5 $158.5 $161.9 $17.1 $16.9 $16.4 $17.1 $17.6 $176.0 $173.7 $171.9 $175.7 $179.5 1.37% 1.33% 1.33% 1.34% 1.38% 3Q24 4Q24 1Q25 2Q25 3Q25 ACL-loans and leases ACL-unfunded commitments 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 $218.8$214.3$213.4$224.1 $206.2 1.18%1.15%1.16%1.21% 1.14% 3Q252Q251Q254Q243Q24 Classified Assets Classified Assets / Total Assets $76.1$77.1 $59.8 $66.0$65.5 0.41%0.41% 0.32%0.36%0.36% 3Q252Q251Q254Q243Q24 NPAs NPAs / Total Assets $7.3 $11.7 $10.5 $6.0 $5.2 $10.6 $9.4 $8.7 $9.8 $9.1 0.18% 0.21% 0.36% 0.40% 0.25% 3Q24 4Q24 1Q25 2Q25 3Q25 NCOs Provision Expense NCOs / Average Loans

capital 20 Tangible Common Equity Ratio 9/30 Risk Weighted Assets = $14,164,934 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 Common Equity Ratio Tier 1 Capital Ratio Total Capital Ratio 12.91%12.57%12.29%12.16%12.04% 7.00% 3Q252Q251Q254Q243Q24 Tier 1 Common Equity Ratio Basel III minimum 13.23%12.89%12.61%12.48%12.37% 8.50% 3Q252Q251Q254Q243Q24 Tier 1 Capital Ratio Basel III minimum 15.32%14.98%14.90%14.64%14.58% 10.50% 3Q252Q251Q254Q243Q24 Total Capital Ratio Basel III minimum 7.98% 7.73% 8.16% 8.40% 8.87%9.34% 9.39% 9.62% 9.81% 10.15% 3Q24 4Q24 1Q25 2Q25 3Q25 TCE ratio Adjusted TCE ratio 1

capital strategy 21 Strategy & DeploymentTangible Book Value Per Share • 4.0% annualized dividend yield as of September 30th • 33% of 3Q25 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 3Q25; no plans to repurchase shares in near- term • Increase in TBV per share from linked quarter of 5% driven by strong earnings • 14% increase since 3Q24 1 Excludes impact from AOCI $14.26 $14.15 $14.80 $15.40 $16.19 $16.69 $17.18 $17.45 $17.98 $18.52 3Q24 4Q24 1Q25 2Q25 3Q25 Tangible Book Value per Share TBV per share-adjusted 1

outlook commentary1 • Loan balances expected to increase mid single digits on an annualized basis, excluding Westfield • Core deposit balances expected to increase, with a seasonal increase in public funds expected • $2.0 billion of earning assets expected in Westfield acquisition 22 • Total noninterest expense expected to be $142 - 144 million • Incentive expense will fluctuate with fee income • Includes $8 million expected from Westfield acquisition Noninterest Expense Net Interest Margin Balance Sheet Credit • Credit costs expected to be stable • Stable ACL coverage as a percentage of loans expected Noninterest Income • Total expected fee income of $77 - 79 million • Includes $18 - 20 million foreign exchange • Includes $21 - 23 million leasing business income • Includes $1 million expected from Westfield 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 3.92% - 3.97%; assumes 25 bp October and December rate cuts • Includes 2 bp expected impact from Westfield acquisition Capital • Common dividend unchanged at $0.25

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 23 appendix: non-GAAP measures

appendix: non-GAAP to GAAP reconciliation 24 All dollars shown in thousands Net interest income and net interest margin - fully tax equivalent Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, 2025 2025 2025 2024 2024 Net interest income 160,486$ 158,269$ 149,296$ 154,399$ 155,560$ Tax equivalent adjustment 1,248 1,246 1,213 1,274 1,362 Net interest income - tax equivalent 161,734$ 159,515$ 150,509$ 155,673$ 156,922$ Average earning assets 15,968,153$ 15,814,576$ 15,752,132$ 15,714,676$ 15,292,378$ Net interest margin1 3.99 % 4.01 % 3.84 % 3.91 % 4.05 % Net interest margin (fully tax equivalent)1 4.02 % 4.05 % 3.88 % 3.94 % 4.08 % 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 25 All dollars shown in thousands Additional non-GAAP ratios Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, (Dollars in thousands, except per share data) 2025 2025 2025 2024 2024 Net income (a) 71,923$ 69,996$ 51,293$ 64,885$ 52,451$ Average total shareholders' equity 2,575,203 2,515,747 2,457,785 2,441,045 2,371,125 Less: Goodwill (1,007,656) (1,007,656) (1,007,656) (1,007,658) (1,007,654) Other intangibles (74,448) (76,076) (78,220) (80,486) (82,619) Average tangible equity (b) 1,493,099 1,432,015 1,371,909 1,352,901 1,280,852 Total shareholders' equity 2,631,855 2,558,155 2,501,235 2,438,041 2,450,438 Less: Goodwill (1,007,656) (1,007,656) (1,007,656) (1,007,656) (1,007,656) Other intangibles (73,797) (75,458) (77,002) (79,291) (81,547) Ending tangible equity (c) 1,550,402 1,475,041 1,416,577 1,351,094 1,361,235 Less: AOCI (223,000) (246,384) (253,888) (289,799) (232,262) Ending tangible equity less AOCI (d) 1,773,402 1,721,425 1,670,465 1,640,893 1,593,497 Total assets 18,554,506 18,634,255 18,455,067 18,570,261 18,146,332 Less: Goodwill (1,007,656) (1,007,656) (1,007,656) (1,007,656) (1,007,656) Other intangibles (73,797) (75,458) (77,002) (79,291) (81,547) Ending tangible assets (e) 17,473,053 17,551,141 17,370,409 17,483,314 17,057,129 Risk-weighted assets (f) 14,164,934 14,129,683 14,027,274 14,059,215 13,800,728 Total average assets 18,566,188 18,419,437 18,368,604 18,273,419 17,854,191 Less: Goodwill (1,007,656) (1,007,656) (1,007,656) (1,007,658) (1,007,654) Other intangibles (74,448) (76,076) (78,220) (80,486) (82,619) Average tangible assets (g) 17,484,084$ 17,335,705$ 17,282,728$ 17,185,275$ 16,763,918$ Ending shares outstanding (h) 95,757,250 95,760,617 95,730,353 95,494,840 95,486,317 Ratios Return on average tangible shareholders' equity (a)/(b) 19.11% 19.61% 15.16% 19.08% 16.29% Ending tangible equity as a percent of: Ending tangible assets (c)/(e) 8.87% 8.40% 8.16% 7.73% 7.98% Risk-weighted assets (c)/(f) 10.95% 10.44% 10.10% 9.61% 9.86% Ending tangible equity excluding AOCI as a percent of: Ending tangible assets (d)/(e) 10.15% 9.81% 9.62% 9.39% 9.34% Average tangible equity as a percent of average tangible assets (b)/(g) 8.54% 8.26% 7.94% 7.87% 7.64% Tangible book value per share (c)/(h) 16.19$ 15.40$ 14.80$ 14.15$ 14.26$ Three months ended,

appendix: non-GAAP to GAAP reconciliation 26 All dollars shown in thousands Additional non-GAAP measures 1Q25 4Q24 As Reported Adjusted As Reported Adjusted As Reported Adjusted As Reported Adjusted Net interest income (f) 160,486$ 160,486$ 158,269$ 158,269$ 149,296$ 149,296$ 154,399$ 154,399$ Provision for credit losses-loans and leases (j) 8,612 8,612 9,084 9,084 9,141 9,141 9,705 9,705 Provision for credit losses-unfunded commitments (j) 453 453 718 718 (441) (441) (273) (273) Noninterest income 73,525 73,525 68,063 68,063 51,083 51,083 69,854 69,854 less: gains (losses) on security transactions (42) 242 (9,948) 143 Total noninterest income (g) 73,525 73,567 68,063 67,821 51,083 61,031 69,854 69,711 Noninterest expense 134,269 134,269 128,671 128,671 128,076 128,076 147,907 147,907 less: tax credit investment writedown 112 111 112 14,303 less: state intangible tax - - - (983) less: efficiency-related costs 228 1,016 451 4,727 less: Other 599 (56) 894 (1,066) Total noninterest expense (e) 134,269 133,330 128,671 127,600 128,076 126,619 147,907 130,926 Income before income taxes (i) 90,677 91,658 87,859 88,688 63,603 75,008 66,914 83,752 Income tax expense 18,754 18,754 17,863 17,863 12,310 12,310 2,029 2,029 plus: tax effect of adjustments 89 88 88 10,522 plus: after-tax impact of tax credit investments @ 21% 206 174 2,395 3,536 Total income tax expense (h) 18,754 19,049 17,863 18,125 12,310 14,793 2,029 16,087 Net income (a) 71,923$ 72,609$ 69,996$ 70,563$ 51,293$ 60,215$ 64,885$ 67,665$ Average diluted shares (b) 95,754 95,754 95,742 95,742 95,524 95,524 95,488 95,488 Average assets (c) 18,566,188 18,566,188 18,419,437 18,419,437 18,368,604 18,368,604 18,273,419 18,273,419 Average shareholders' equity 2,575,203 2,575,203 2,515,747 2,515,747 2,457,785 2,457,785 2,441,045 2,441,045 Less: Goodwill and other intangibles (1,082,104) (1,082,104) (1,083,732) (1,083,732) (1,085,876) (1,085,876) (1,088,144) (1,088,144) Average tangible equity (d) 1,493,099 1,493,099 1,432,015 1,432,015 1,371,909 1,371,909 1,352,901 1,352,901 Ratios Net earnings per share - diluted (a)/(b) 0.75$ 0.76$ 0.73$ 0.74$ 0.54$ 0.63$ 0.68$ 0.71$ Return on average assets - (a)/(c) 1.54% 1.55% 1.52% 1.54% 1.13% 1.33% 1.41% 1.47% Pre-tax, pre-provision return on average assets - ((a)+(j)+(h))/(c) 2.13% 2.15% 2.13% 2.14% 1.60% 1.85% 1.66% 2.03% Return on average tangible shareholders' equity - (a)/(d) 19.11% 19.29% 19.61% 19.76% 15.16% 17.80% 19.08% 19.90% Efficiency ratio - (e)/((f)+(g)) 57.4% 57.0% 56.9% 56.4% 63.9% 60.2% 66.0% 58.4% Effective tax rate - (h)/(i) 20.7% 20.8% 20.3% 20.4% 19.4% 19.7% 3.0% 19.2% (Dollars in thousands, except per share data) 3Q25 2Q25

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

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