# FIRST FINANCIAL BANCORP /OH/ (FFBC) Informational only - not investment advice. CIK: 0000708955 SIC: 6021 National Commercial Banks SIC breadcrumb: [Finance, Insurance, And Real Estate](/division/H/) > [Depository Institutions](/major-group/60/) > [SIC 6021 National Commercial Banks](/industry/6021/) Latest 10-K filed: 2026-02-19 SEC page: https://www.sec.gov/edgar/browse/?CIK=708955 Filing source: https://www.sec.gov/Archives/edgar/data/708955/000070895526000028/ffbc-20251231.htm ## Selected Fundamentals | Metric | Value | Unit | FY | Filed | | --- | ---: | --- | ---: | --- | | Revenue | 1001904000 | USD | 2025 | 2026-02-19 | | Net income | 255605000 | USD | 2025 | 2026-02-19 | | Assets | 21129379000 | USD | 2025 | 2026-02-19 | ## Financials Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-19. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000708955.json. Derived margins are computed from the extracted annual SEC facts. | Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | 305,950,000 | 333,073,000 | 540,382,000 | 607,578,000 | 524,963,000 | 483,217,000 | 585,006,000 | 903,004,000 | 1,002,095,000 | 1,001,904,000 | | Net income | 88,526,000 | 96,787,000 | 172,595,000 | 198,075,000 | 155,810,000 | 205,160,000 | 217,612,000 | 255,863,000 | 228,830,000 | 255,605,000 | | Diluted EPS | 1.43 | 1.56 | 1.93 | 2.00 | 1.59 | 2.14 | 2.30 | 2.69 | 2.40 | 2.66 | | Assets | 8,437,967,000 | 8,896,923,000 | 13,986,660,000 | 14,511,625,000 | 15,973,134,000 | 16,329,141,000 | 17,003,316,000 | 17,532,900,000 | 18,570,261,000 | 21,129,379,000 | | Liabilities | 7,572,743,000 | 7,966,259,000 | 11,908,411,000 | 12,263,920,000 | 13,691,064,000 | 14,070,199,000 | 14,961,943,000 | 15,264,926,000 | 16,132,220,000 | 18,360,163,000 | | Stockholders' equity | 865,224,000 | 930,664,000 | 2,078,249,000 | 2,247,705,000 | 2,282,070,000 | 2,258,942,000 | 2,041,373,000 | 2,267,974,000 | 2,438,041,000 | 2,769,216,000 | | Net margin | 28.93% | 29.06% | 31.94% | 32.60% | 29.68% | 42.46% | 37.20% | 28.33% | 22.84% | 25.51% | ## Quarterly Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-05-08. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000708955.json. Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived. | Quarter | End date | Revenue | Net income | Diluted EPS | Method | | --- | --- | ---: | ---: | ---: | --- | | 2022-Q2 | 2022-06-30 | | | 0.55 | reported discrete quarter | | 2022-Q3 | 2022-09-30 | | | 0.59 | reported discrete quarter | | 2023-Q1 | 2023-03-31 | | | 0.74 | reported discrete quarter | | 2023-Q2 | 2023-06-30 | 223,895,000 | 65,667,000 | 0.69 | reported discrete quarter | | 2023-Q3 | 2023-09-30 | 232,091,000 | 63,061,000 | 0.66 | reported discrete quarter | | 2023-Q4 | 2023-12-31 | 238,437,000 | 56,732,000 | | derived Q4 = FY annual - nine-month YTD | | 2024-Q1 | 2024-03-31 | 240,686,000 | 50,689,000 | 0.53 | reported discrete quarter | | 2024-Q2 | 2024-06-30 | 252,719,000 | 60,805,000 | 0.64 | reported discrete quarter | | 2024-Q3 | 2024-09-30 | 257,119,000 | 52,451,000 | 0.55 | reported discrete quarter | | 2024-Q4 | 2024-12-31 | 251,571,000 | 64,885,000 | | derived Q4 = FY annual - nine-month YTD | | 2025-Q1 | 2025-03-31 | 240,419,000 | 51,293,000 | 0.54 | reported discrete quarter | | 2025-Q2 | 2025-06-30 | 245,900,000 | 69,996,000 | 0.73 | reported discrete quarter | | 2025-Q3 | 2025-09-30 | 250,254,000 | 71,923,000 | 0.75 | reported discrete quarter | | 2025-Q4 | 2025-12-31 | 265,331,000 | 62,393,000 | | derived Q4 = FY annual - nine-month YTD | | 2026-Q1 | 2026-03-31 | 282,418,000 | 74,445,000 | 0.71 | reported discrete quarter | ## Macro Cross-References - [CPIAUCSL](/indicator/CPIAUCSL/): Consumer Price Index for All Urban Consumers: All Items in U.S. City Average - [UNRATE](/indicator/UNRATE/): Unemployment Rate - [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate - [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private - [DFEDTARU](/indicator/DFEDTARU/): Federal Funds Target Range - Upper Limit - [DFEDTARL](/indicator/DFEDTARL/): Federal Funds Target Range - Lower Limit - [DGS3MO](/indicator/DGS3MO/): Market Yield on U.S. Treasury Securities at 3-Month Constant Maturity - [DGS2](/indicator/DGS2/): Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity - [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity - [DGS30](/indicator/DGS30/): Market Yield on U.S. Treasury Securities at 30-Year Constant Maturity - [T10Y2Y](/indicator/T10Y2Y/): 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity - [CPILFESL](/indicator/CPILFESL/): Consumer Price Index for All Urban Consumers: All Items Less Food and Energy - [CPIUFDSL](/indicator/CPIUFDSL/): Consumer Price Index for All Urban Consumers: Food - [CPIENGSL](/indicator/CPIENGSL/): Consumer Price Index for All Urban Consumers: Energy - [CUSR0000SAH1](/indicator/CUSR0000SAH1/): Consumer Price Index for All Urban Consumers: Shelter - [PCEPI](/indicator/PCEPI/): Personal Consumption Expenditures: Chain-type Price Index - [PCEPILFE](/indicator/PCEPILFE/): Personal Consumption Expenditures Excluding Food and Energy: Chain-type Price Index - [PPIACO](/indicator/PPIACO/): Producer Price Index by Commodity: All Commodities - [T10YIE](/indicator/T10YIE/): 10-Year Breakeven Inflation Rate - [U6RATE](/indicator/U6RATE/): Total Unemployed, Plus All Marginally Attached Workers Plus Total Employed Part Time for Economic Reasons - [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm - [CIVPART](/indicator/CIVPART/): Labor Force Participation Rate - [EMRATIO](/indicator/EMRATIO/): Employment-Population Ratio - [UNEMPLOY](/indicator/UNEMPLOY/): Unemployed - [CE16OV](/indicator/CE16OV/): Employment Level - [ICSA](/indicator/ICSA/): Initial Claims - [JTSJOL](/indicator/JTSJOL/): Job Openings: Total Nonfarm - [JTSQUR](/indicator/JTSQUR/): Quits: Total Nonfarm - [GDPC1](/indicator/GDPC1/): Real Gross Domestic Product - [A191RL1Q225SBEA](/indicator/A191RL1Q225SBEA/): Real Gross Domestic Product: Percent Change from Preceding Period - [INDPRO](/indicator/INDPRO/): Industrial Production: Total Index - [TCU](/indicator/TCU/): Capacity Utilization: Total Index - [HOUST](/indicator/HOUST/): New Privately-Owned Housing Units Started: Total Units - [PERMIT](/indicator/PERMIT/): New Privately-Owned Housing Units Authorized in Permit-Issuing Places: Total Units - [RSAFS](/indicator/RSAFS/): Advance Retail Sales: Retail Trade - [PCE](/indicator/PCE/): Personal Consumption Expenditures - [DSPIC96](/indicator/DSPIC96/): Real Disposable Personal Income - [PSAVERT](/indicator/PSAVERT/): Personal Saving Rate - [M2SL](/indicator/M2SL/): M2 - [BOPGSTB](/indicator/BOPGSTB/): U.S. International Trade in Goods and Services: Balance - [MSPUS](/indicator/MSPUS/): Median Sales Price of Houses Sold for the United States - [HSN1F](/indicator/HSN1F/): New One Family Houses Sold: United States - [RHORUSQ156N](/indicator/RHORUSQ156N/): Homeownership Rate in the United States - [TTLCONS](/indicator/TTLCONS/): Total Construction Spending: Total Construction in the United States - [RRVRUSQ156N](/indicator/RRVRUSQ156N/): Rental Vacancy Rate in the United States - [TOTALSL](/indicator/TOTALSL/): Total Consumer Credit Owned and Securitized - [REVOLSL](/indicator/REVOLSL/): Revolving Consumer Credit Owned and Securitized - [DRCCLACBS](/indicator/DRCCLACBS/): Delinquency Rate on Credit Card Loans, All Commercial Banks - [GDP](/indicator/GDP/): Gross Domestic Product - [GPDI](/indicator/GPDI/): Gross Private Domestic Investment - [GCE](/indicator/GCE/): Government Consumption Expenditures and Gross Investment - [PCEC](/indicator/PCEC/): Personal Consumption Expenditures - [NETEXP](/indicator/NETEXP/): Net Exports of Goods and Services - [GFDEBTN](/indicator/GFDEBTN/): Federal Debt: Total Public Debt - [GFDEGDQ188S](/indicator/GFDEGDQ188S/): Federal Debt: Total Public Debt as Percent of Gross Domestic Product - [FYFSD](/indicator/FYFSD/): Federal Surplus or Deficit - [FGRECPT](/indicator/FGRECPT/): Federal Government Current Receipts - [FGEXPND](/indicator/FGEXPND/): Federal Government: Current Expenditures - [MANEMP](/indicator/MANEMP/): All Employees, Manufacturing - [USCONS](/indicator/USCONS/): All Employees, Construction - [USTRADE](/indicator/USTRADE/): All Employees, Retail Trade - [USFIRE](/indicator/USFIRE/): All Employees, Financial Activities - [USGOVT](/indicator/USGOVT/): All Employees, Government - [AWHAETP](/indicator/AWHAETP/): Average Weekly Hours of All Employees, Total Private - [DGORDER](/indicator/DGORDER/): Manufacturers' New Orders: Durable Goods - [NEWORDER](/indicator/NEWORDER/): Manufacturers' New Orders: Nondefense Capital Goods Excluding Aircraft - [BUSINV](/indicator/BUSINV/): Total Business Inventories - [EXPGS](/indicator/EXPGS/): Exports of Goods and Services - [IMPGS](/indicator/IMPGS/): Imports of Goods and Services - [IR](/indicator/IR/): Import Price Index (End Use): All Commodities - [PPIFIS](/indicator/PPIFIS/): Producer Price Index by Commodity: Final Demand ## Latest quarter (10-Q) Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/708955/000070895526000096/ffbc-20260331.htm Extracted between Part I Item 2 and the next Item 3/4 or Part II heading after HTML sanitization. Confidence: high Filing date: 2026-05-08 Report date: 2026-03-31 ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FIRST FINANCIAL BANCORP. AND SUBSIDIARIES (Unaudited) The following discussion and analysis is presented by management to facilitate the understanding of the financial condition, cash flows, changes in financial condition and results of operations of First Financial Bancorp. Management's discussion and analysis identifies trends and material changes that occurred during the reporting periods presented and should be read in conjunction with the Consolidated Financial Statements and accompanying Notes. All significant reclassifications of prior period amounts, if applicable, have been made to conform to the current period’s presentation and had no effect on the Company's previously reported net income or financial condition. EXECUTIVE SUMMARY First Financial Bancorp. is a $22.8 billion financial holding company headquartered in Cincinnati, Ohio. The Company primarily operates through First Financial Bank, an Ohio-chartered commercial bank with 153 full service banking centers as of March 31, 2026. First Financial provides banking and financial services products to business and retail clients through its six lines of business: Commercial, Retail Banking, Mortgage Banking, Wealth Management, Investment Commercial Real Estate and Commercial Finance. The Commercial Finance business lends to targeted industry verticals and has a national geographic footprint. Wealth Management, operating under the brand of Yellow Cardinal Advisory Group, had $4.3 billion in assets under management as of March 31, 2026, and provides the following services: financial planning, investment management, trust administration, estate settlement, business succession planning services, brokerage services and retirement planning. Additional information about First Financial, including its products, services and banking locations, is available on the Company's website at www.bankatfirst.com. The primary components of First Financial’s operating results for the three month period ended March 31, 2026 are discussed in greater detail in the sections that follow. MARKET STRATEGY First Financial develops a competitive advantage by utilizing a local market focus to provide superior service and build long-term relationships with clients while helping them achieve greater financial success. First Financial serves a combination of metropolitan and community markets in Ohio, Indiana, Kentucky and Illinois through its full-service banking centers. First Financial's investment in community markets is an important part of the Bank's core funding base and has historically provided stable, low-cost funding sources.  First Financial also has certain specialty lending platforms that extend nationally beyond the geographic footprint of its banking centers. These specialty finance businesses provide insurance premium financing, equipment lease financing, franchise financing and funding to clients within the financial services industry. Additionally, First Financial has established loan production offices in multiple locations outside its primary footprint to broaden its geographic presence, enhance access to prospective borrowers and support growth, thereby strengthening the Company's overall operations. First Financial’s market selection process includes multiple factors, but markets are primarily chosen for their potential for long-term profitability and growth.  First Financial intends to concentrate plans for future growth and capital investment within its current markets, and will continue to evaluate additional growth opportunities in metropolitan markets located within, or in close proximity to, the Company's current geographic footprint.  Additionally, First Financial may assess strategic acquisitions that provide product line extensions or industry verticals that complement its existing business and diversify its product suite and revenue streams. 50 Table of Content BUSINESS COMBINATIONS BankFinancial Corporation BankFinancial, National Association, a national banking association, and a wholly owned subsidiary of BankFinancial Corporation, merged into First Financial Bank effective January 1, 2026. Under the terms of the agreement, each share of BankFinancial Corporation common stock was converted into 0.48 shares of First Financial common stock, or 5,980,878 total shares, valuing the transaction at $149.7 million based on the closing price of First Financial stock at December 31, 2025. With the addition of 17 retail banking locations, the acquisition expanded First Financial’s presence in the Chicago market with a strong core deposit franchise while supplementing its existing commercial banking and wealth management lines of business. The following table provides the purchase price calculation as of the acquisition date, identifiable assets purchased and liabilities assumed at their estimated fair value for the BankFinancial acquisition. (Dollars in thousands) BankFinancial Purchase consideration Cash consideration $ 6  Stock consideration 149,648  Total purchase consideration 149,654  Assets acquired Cash 12,724  Short term investments 493,646  Investment securities available-for-sale 138,332  Other investments 7,500  Loans, net of ACL 264,121  Loans held for sale 408,347  Premises and equipment 22,210  Core deposit intangible 32,992  Other intangible assets 295  Other assets 28,559  Total assets acquired 1,408,726  Liabilities assumed Deposits 1,209,437  Subordinated notes 17,936  FHLB advances 10,048  Other liabilities 12,759  Total liabilities assumed 1,250,180  Net identifiable assets 158,546  Gain on bargain purchase $ (8,892) As the fair value of net identifiable assets acquired exceeded the purchase price for BankFinancial, the transaction resulted in the recognition of a gain on bargain purchase of $8.9 million. This gain is recorded within Noninterest income in the Company's Consolidated Statement of Income and arose primarily from transaction-specific market factors, including the relative profitability profile of BankFinancial and the Company’s strategic focus on BankFinancial’s core deposit franchise and Chicago market presence. 51 Table of Content Acquired loans held for sale represent certain multi-family loans that First Financial determined were not in alignment with the Company's long-term portfolio strategy, risk profile or concentration objectives. Management received multiple indications of interest on these loans, ultimately consummating the sale in March of 2026. The sales price of the loans sold approximated fair value at acquisition. As these loans were sold prior to the end of the quarter, they had no impact on the Company's Statement of Condition at March 31, 2026. Westfield Bancorp First Financial Bancorp acquired Westfield Bancorp, Inc., an Ohio corporation, effective November 1, 2025. Upon completion of the transaction, Westfield Bank, FSB, a federal savings bank, and a wholly owned subsidiary of Westfield Bancorp, merged into First Financial Bank. Pursuant to the Purchase Agreement, First Financial acquired all of the issued and outstanding equity securities of Westfield Bancorp in exchange for a cash payment of $260.0 million and 2,753,094 shares of First Financial common stock, equal to $64.4 million based on the Company's stock price on the date the transaction closed, for a total purchase price of $324.4 million. The Westfield acquisition supplemented First Financial’s existing commercial banking and wealth management presence in Northeast Ohio by adding all seven of Westfield's retail banking locations and its commercial, insurance agency and private banking services. Additionally, Westfield had one banking center that was under construction at the time of the acquisition. This banking center opened during the first quarter of 2026. The following table provides the purchase price calculation as of the acquisition date, identifiable assets purchased and liabilities assumed at their estimated fair value for the Westfield acquisition. (Dollars in thousands) Westfield Purchase consideration Cash consideration $ 260,000  Stock consideration 64,450  Total purchase consideration 324,450  Assets acquired Cash 72,814  Investment securities available-for-sale 301,007  Other investments 25,491  Loans, net of ACL 1,571,531  Premises and equipment 6,026  Core deposit intangible 47,065  Other intangible assets 1,105  Other assets 103,513  Total assets acquired 2,128,552  Liabilities assumed Deposits 1,790,442  FHLB advances 80,000  Long-term borrowings 1,920  Other liabilities 23,627  Total liabilities assumed 1,895,989  Net identifiable assets 232,563  Goodwill $ 91,887  52 Table of Content NON-GAAP FINANCIAL MEASURES The Company utilizes certain non-GAAP financial measures, which First Financial believes provides useful insight to the readers of the Consolidated Financial Statements. These non-GAAP measures should be supplemental to primary GAAP measures and should not be read in isolation or relied upon as a substitute for the primary GAAP measures. For analytical purposes, net interest income is presented in the following table adjusted to a tax equivalent basis assuming a 21% marginal tax rate. Net interest income is disclosed on a tax equivalent basis to consistently reflect income from tax-exempt assets, such as municipal loans and investments, in order to facilitate a comparison between taxable and tax-exempt amounts.  Management believes it is standard practice in the banking industry to present net interest margin and net interest income on a fully tax equivalent basis as these measures provide useful information to make peer comparisons. Three months ended (Dollars in thousands) March 31, 2026 December 31, 2025 March 31, 2025 Net interest income $ 189,610  $ 173,995  $ 149,296  Tax equivalent adjustment 1,186  1,227  1,213  Net interest income - tax equivalent $ 190,796  $ 175,222  $ 150,509  Average earning assets $ 19,393,679  $ 17,448,460  $ 15,752,132  Net interest margin (1) 3.97  % 3.96  % 3.84  % Net interest margin (FTE) (1) 3.99  % 3.98  % 3.88  % (1) Calculated using annualized net interest income divided by average earning assets. In addition to capital ratios defined by the U.S. banking agencies, First Financial considers various measures when evaluating capital utilization and adequacy, including the return on average tangible shareholder's equity and the tangible common equity ratio. These calculations are intended to complement the capital ratios defined by the U.S. banking agencies for both absolute and comparative purposes and may be useful for evaluating the performance of a business as the ratios calculate the capital and return available to common shareholders without the impact of intangible assets and their related amortization. As GAAP does not include capital ratio measures, the Company believes there are no comparable GAAP financial measures to these ratios. These ratios are not formally defined by GAAP or codified in the federal banking regulations and, therefore, are considered to be non-GAAP financial measures. First Financial encourages readers to consider its Consolidated Financial Statements in their entirety and not to rely upon any single financial measure. The following table reconciles non-GAAP capital ratios to GAAP: Three months ended (Dollars in thousands) March 31, 2026 December 31, 2025 March 31, 2025 Net income (a) $ 74,445  $ 62,393  $ 51,293  Average total shareholders' equity 2,947,585  2,695,581  2,457,785  Less: Average goodwill (1,099,543) (1,069,781) (1,007,656) Average other intangibles (149,631) (104,184) (78,220) Average tangible equity (b) 1,698,411  1,521,616  1,371,909  Total shareholders' equity 2,940,625  2,769,216  2,501,23 [Excerpt truncated for page length; source filing is linked above.] ## Latest 10-K MD&A Low-confidence quarantine: Item 7 boundaries were not detected after HTML sanitization. Confidence: low _Quarantined: low-confidence Item 7 boundaries; no MD&A text emitted._