First Financial Bancorp Announces Record Third Quarter Financial Results and Quarterly Dividend

Archie Brown, President and CEO of First Financial Bancorp.

“I am very pleased with our performance in the third quarter. Adjusted net income was $87.8 million and adjusted earnings per share were $0.84, which resulted in an adjusted return on assets of 1.56% and an adjusted return on tangible common equity of 20.2%. Earnings per share increased 11% from the third quarter of 2025 and were the highest in the Company's history. We delivered record third quarter revenue of $273.9 million, driven by a strong net interest margin of 4.07% and record adjusted fee revenue of $77.6 million.”

Archie Brown, President and CEO of First Financial Bancorp.

“Loan balances increased moderately during the quarter, consistent with our prior quarter outlook, with particularly strong growth in our C&I portfolio. Loan pipelines remain healthy as we enter the fourth quarter, and we expect low to mid single digit loan growth as we close out 2026.”

Archie Brown, President and CEO of First Financial Bancorp.

“We are very encouraged by the strength and diversification of our fee income, as adjusted noninterest income was a record $77.6 million and 28% of total revenues. Growth from the linked quarter was driven by strong performances from foreign exchange, wealth management, client derivatives and bankcard income.”

Archie Brown, President and CEO of First Financial Bancorp.

“As a result of our strong fee income and overall operating performance, expenses were elevated during the quarter, driven primarily by incentive costs associated with our record revenues, as well as higher health care claims and increased credit and collection costs. We expect expenses to moderate in the fourth quarter.”

Archie Brown, President and CEO of First Financial Bancorp.

“Credit quality trends were stable during the third quarter. Net charge-offs and nonperforming assets were comparable to second quarter levels, while classified assets increased significantly. The increase in classified assets was primarily driven by the downgrade of a single ICRE relationship with multiple loans, and we expect to resolve the workout of this relationship over the next few quarters.”

Archie Brown, President and CEO of First Financial Bancorp.

“All regulatory capital ratios increased from the second quarter; however, tangible book value per share and tangible common equity declined in response to the sharp increase in interest rates during the second half of the quarter. Tangible book value per share decreased 6% from the linked quarter to $15.65, while tangible common equity declined 43 basis points from June 30, to 7.81% at the end of September.”

Archie Brown, President and CEO of First Financial Bancorp.

“We delivered another strong quarter and have had an excellent year to date. We are pleased to have received Federal regulatory approval for our acquisition of Finward and expect to close the transaction on January 1, 2027, subject to the receipt of state regulatory and Finward shareholder approvals. Looking ahead, we remain focused on closing the year on a strong note, completing the Finward transaction, and carrying our momentum into 2027.”

Archie Brown, President and CEO of First Financial Bancorp.

“Finally, I want to acknowledge the recently announced changes to our senior leadership structure. These changes were designed to promote continuity, reinforce our commitment to strong financial performance, and maintain our engagement-centric culture. I have tremendous confidence in Jamie and the rest of our leadership team, and the positive impact we are already seeing from these organizational changes underscores the strength of our people, our culture, and our continued commitment to serving our clients and communities.”