8-K - FFBC - Equibles

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): September 9, 2020

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 800	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))

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 7.01 Regulation FD Disclosure.

The executive officers of First Financial Bancorp. intend to use the materials filed herewith, in whole or in part, in one or more meetings with investors and analysts. A copy of the investor presentation is attached hereto as Exhibit 99.1.

First Financial Bancorp. does not intend for this Item 7.01 or Exhibit 99.1 to be treated as “filed” for purposes of the Securities Exchange Act of 1934, as amended, or incorporated by reference into its filings under the Securities Act of 1933, as amended.

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. Investor Presentation

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:	September 9, 2020

a8k9920investpresent

Exhibit 99.1 Deferral Portfolio Reporting August 28, 2020

Round 1 Deferrals $2.2 billion of loans received an Round 1 Deferrals by loan type initial deferral Total $2.2 Billion Mortgage Round 1 deferrals universally C&I $103 granted $838 5% 37% Approximately 20% of entire loan Consumer $29 portfolio received an initial deferral 1% $1.3 billion, or 57%, of initial deferrals were ICRE ICRE $2.0 billion, or 92%, of the $2.2 $1,264 billion deferral portfolio has exited 57% Round 1 $1.4 billion, or 69%, has returned to Round 1 Deferral Status as of 8/28/2020 a normal payment schedule $625 million, or 31%, has moved Round 1 Deferral Round 1 deferral not into Round 2 Loan Type Round 1 Deferral Expired yet expired ICRE$ 1,263,517 $ 1,188,756 $ 74,762 $186 million, or 8%, of initial C&I 838,477 747,889 90,588 Mortgage 103,511 92,406 11,105 deferrals yet to expire Consumer 28,658 19,473 9,184 Total Deferral Portfolio $ 2,234,163 $ 2,048,524 $ 185,639 All dollars shown in millions 2

Round 2 Deferrals Round 2 Deferrals $2.0 billion, or 92%, of the $2.2 Total $625.3 Million billion deferral portfolio has exited Mortgage Round 1 C&I $ 11,138 $ 185,919 2% 30% $1.4 billion, or 69%, has returned to a Consumer normal payment schedule $ 1,347 0% $625 million, or 31%, has moved into Round 2 ICRE $ 426,921 Round 2 deferrals 68% Granted on a case by case basis Relationship managers performed enhanced due diligence of borrower Deferral Status as of 8/28/2020 operations, financial condition, liquidity Round 1 Deferral and cash flow during the deferral Round 1 Deferral Returned to Normal Round 2 Deferral period Loan Type Expired Payment Schedule Granted ICRE$ 1,188,756 $ 761,835 $ 426,921 68% of round 2 deferrals for ICRE C&I 747,889 561,969 185,920 borrowers Mortgage 92,406 81,268 11,138 $203 million, or 32%, of Round 2 Consumer 19,473 18,127 1,347 deferrals are making interest only Total Deferral Portfolio $ 2,048,524 $ 1,423,199 $ 625,325 payments All dollars shown in millions 3

Areas of Focus - Round 1 Deferrals Franchise Round 1 Deferrals $290 million, or 64%, of Total $2.2 Billion total franchise portfolio, secured a Round 1 deferral Other $1,067 $182 million, or 66%, of 48% expired Round 1 deferrals have returned to a normal payment schedule Franchise $290 13% Hotel ICRE Hotel $370 million, or 17%, of $507 $370 total Round 1 deferrals 22% 17% $26 million, or 7%, have returned to normal payment schedule Deferral Status as of 8/28/2020 ICRE Retail Round 1 $507 million, or 60%, of Deferrals total ICRE Retail portfolio, Round 1 Returned to Round 2 secured a Round 1 deferral Round 1 Deferrals Normal Payment Deferrals Area of Focus Deferrals Expired Schedule Granted $458 million, or 96%, of expired Round 1 deferrals Franchise$ 290,313 $ 273,782 $ 181,729 $ 92,053 have returned to a normal Hotel 370,015 370,015 25,873 344,141 payment schedule ICRE 506,826 477,349 458,099 19,251 Total - Areas of Focus $ 1,167,154 $ 1,121,146 $ 665,701 $ 455,445 All dollars shown in millions 4

Areas of Focus - Round 2 Deferrals Franchise Continued stress in sit-down concepts Round 2 Deferrals 80% of second deferrals making interest only Total $625.3 Million payments Hotel Other $170 Slowly improving occupancy rates (25-45%) Franchise 27% 93% of initial deferrals have been granted a second $92 deferral ICRE 15% $19 26% of second deferrals are making interest only 3% payments; 74% of second deferrals granted full P&I relief Hotel $344 ICRE Retail 55% $19 million, or 4%, of initial deferrals granted a second Round 2 Deferral Status as of 8/28/2020 Type of Round 2 Deferral – Areas of Focus Round 2 Total $455.4 Million Round 2 Deferrals with Round 2 Full Deferrals Interest Only Payment Area of Focus Granted Payments Deferrals Full Payment Deferral Franchise$ 92,053 $ 73,461 $ 18,592 $284 Hotel 344,141 90,749 253,392 62% ICRE 19,251 6,900 12,351 Total - Areas of Focus $ 455,445 $ 171,110 $ 284,335 Interest Only Payment $171 38% All dollars shown in millions 5

First Financial Bank First Financial Center 225 East Fifth Street Suite 800 Cincinnati, OH 45202-4248 6