FIRST FINANCIAL BANCORP /OH/ - FORM 8-K - EX-99.1 - EXHIBIT 99.1

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EX-99.2 - EXHIBIT 99.2 - FIRST FINANCIAL BANCORP /OH/	exh992earningsrelease3q1.htm
8-K - 8-K - FIRST FINANCIAL BANCORP /OH/	a8kearningsrelease3q16.htm

EXHIBIT 99.1

First Financial Bancorp. Reports Third Quarter 2016 Financial Results

Year to date Earnings Increased 18% Compared to 2015

Cincinnati, Ohio - October 20, 2016 - First Financial Bancorp. (Nasdaq: FFBC) (“First Financial” or the “Company”) announced financial results for the third quarter 2016. For the three months ended September 30, 2016, the Company reported net income of $22.9 million, or $0.37 per diluted common share. These results compare to net income of $22.6 million, or $0.36 per diluted common share, for the second quarter of 2016 and $18.7 million, or $0.30 per diluted common share, for the third quarter of 2015. For the nine months ended September 30, 2016, First Financial had earnings per diluted common share of $1.05 compared to $0.89 for the same period in 2015.

Return on average assets for the third quarter of 2016 was 1.09% while return on average tangible common equity was 14.08%. These compare to a return on average assets of 1.11% and return on average tangible common equity of 14.49% in the second quarter of 2016 and a return on average assets of 0.97% and a return on average tangible common equity of 12.33% in the third quarter of 2015.

Third quarter 2016 highlights include:


•	Loans increased $88.3 million, or 6.2% on an annualized basis, from the linked quarter


•	Stable net interest margin of 3.61%; 3.66% on a fully tax equivalent basis


•	Provision expense declined $2.4 million consistent with stable credit quality


•	Noninterest income included $0.4 million of gains on sales of investment securities


•	Noninterest expense included $0.8 million of severance costs, $0.2 million of gains related to branch consolidation activities and a $0.2 million legal recovery


•	Efficiency ratio of 59.6%


•	Effective tax rate of 30.7% included seasonal adjustments

Claude Davis, Chief Executive Officer, commented, “We are extremely pleased with another quarter of solid results, which produced our 104^thconsecutive quarter of profitability. Solid demand in our metropolitan markets resulted in annualized loan growth of 6.2% for the quarter. Net interest margin remained stable and our third quarter results reflect continued discipline in managing expenses as well as a steady credit environment."

"As we look to close 2016 on a positive note, we will focus on continuing the momentum generated through the first three quarters and delivering on our stated goals of top quartile performance and being a premier business bank.”

This release announcing our third quarter financial results includes an accompanying slide presentation. Management intends to make reference to the accompanying slides during the earnings conference call on Friday, October 21, 2016.

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 21, 2016 at 8:30 a.m. Eastern Standard Time. Members of the public who would like to listen to the conference call should dial (877) 506-6873 (U.S. toll free), (855) 669-9657 (Canada toll free) or +1 (412) 380-2003 (International) (no passcode required). The number should be dialed five to ten minutes prior to the start of the conference call. 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. A replay of the conference call will be available beginning one hour after the completion of the live call at (877) 344-7529 (U.S. toll free), (855) 669-9658 (Canada toll free) and +1 (412) 317-0088 (International); conference number 10084369. 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 and any non-GAAP reconciliations related to this release is available to the public through the Investor Relations section of First Financial's website at www.bankatfirst.com.

About First Financial Bancorp.

First Financial Bancorp. is a Cincinnati, Ohio based bank holding company. As of September 30, 2016, the Company had $8.4 billion in assets, $5.8 billion in loans, $6.3 billion in deposits and $861.1 million in shareholders’ equity. The Company’s subsidiary, First Financial Bank, N.A., founded in 1863, provides banking and financial services products through its four lines of business: Commercial and Private Banking, Retail Banking, Investment Commercial Real Estate and Commercial Finance. These business units provide traditional banking services to business and retail clients. Commercial and Private Banking includes First Financial Wealth Management, which provides wealth planning, portfolio management, trust and estate, brokerage and retirement plan services and had approximately $2.4 billion in assets under management as of September 30, 2016. The Company’s primary operating markets are located in Ohio, Indiana and Kentucky where it operates 101 banking centers, while the Commercial Finance business lends into targeted industry verticals on a nationwide basis. Additional information about the Company, including its products, services and banking locations is available at www.bankatfirst.com.

Forward-Looking Statement

This earnings release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not based on historical or current facts, but rather on our current beliefs, expectations, assumptions and projections about our business, the economy and other future conditions. Forward-looking statements often include words such as ‘‘believes,’’ ‘‘anticipates,’’ “likely,” “expected,” ‘‘intends,’’ “could,” “should,” and other similar references to future periods. 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. Important factors that could cause actual results to differ materially from those in our forward-looking statements include the following, without limitation: (i) economic, market, liquidity, credit, interest rate, operational and technological risks associated with the Company’s business; (ii) 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; (iii) management’s ability to effectively execute its business plans; (iv) mergers and acquisitions, including costs or difficulties related to the integration of acquired companies; (v) the Company’s ability to comply with the terms of loss sharing agreements with the FDIC; (vi) the effect of changes in accounting policies and practices; (vii) changes in consumer spending, borrowing and saving and changes in unemployment; (viii) changes in customers’ performance and creditworthiness; and (ix) the costs and effects of litigation and of unexpected or adverse outcomes in such litigation. Additional factors that may cause our actual results to differ materially from those described in our forward-looking statements can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, as well as its other filings with the SEC, which are available on the SEC website at www.sec.gov.

Forward-looking statements are meaningful only on the date when such statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances that may arise after the date on which a forward-looking statement is made.

Contact Information

Investors/Analysts Media

John Gavigan Adam Kiefaber

Chief Financial Officer Media Relations

(513) 887-5400 (513) 979-5735

InvestorRelations@bankatfirst.com adam.kiefaber@bankatfirst.com

Selected Financial Information

September 30, 2016

(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,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Sep. 30,
	2016			2016			2016			2015			2015			2016			2015
RESULTS OF OPERATIONS
Net income	$	22,850		$	22,568		$	19,814		$	19,820		$	18,673		$	65,232		$	55,243
Net earnings per share - basic	$	0.37		$	0.37		$	0.32		$	0.33		$	0.31		$	1.07		$	0.90
Net earnings per share - diluted	$	0.37		$	0.36		$	0.32		$	0.32		$	0.30		$	1.05		$	0.89
Dividends declared per share	$	0.16		$	0.16		$	0.16		$	0.16		$	0.16		$	0.48		$	0.48

KEY FINANCIAL RATIOS
Return on average assets	1.09		%	1.11		%	0.98		%	0.99		%	0.97		%	1.06		%	1.00		%
Return on average shareholders' equity	10.62		%	10.84		%	9.70		%	9.62		%	9.12		%	10.39		%	9.23		%
Return on average tangible shareholders' equity	14.08		%	14.49		%	13.06		%	12.98		%	12.33		%	13.88		%	12.54		%

Net interest margin	3.61		%	3.61		%	3.62		%	3.63		%	3.61		%	3.61		%	3.59		%
Net interest margin (fully tax equivalent) ⁽¹⁾	3.66		%	3.67		%	3.68		%	3.69		%	3.67		%	3.67		%	3.65		%

Ending shareholders' equity as a percent of ending assets	10.29		%	10.19		%	10.09		%	9.93		%	10.32		%	10.29		%	10.32		%
Ending tangible shareholders' equity as a percent of:
Ending tangible assets	7.97		%	7.85		%	7.71		%	7.53		%	7.84		%	7.97		%	7.84		%
Risk-weighted assets	9.63		%	9.51		%	9.49		%	9.47		%	9.90		%	9.63		%	9.90		%

Average shareholders' equity as a percent of average assets	10.29		%	10.21		%	10.12		%	10.29		%	10.67		%	10.21		%	10.89		%
Average tangible shareholders' equity as a percent of
average tangible assets	7.96		%	7.83		%	7.71		%	7.83		%	8.12		%	7.84		%	8.25		%

Book value per share	$	13.90		$	13.67		$	13.36		$	13.13		$	13.17		$	13.90		$	13.17
Tangible book value per share	$	10.50		$	10.26		$	9.94		$	9.69		$	9.74		$	10.50		$	9.74

Common equity tier 1 ratio ⁽²⁾	10.20		%	10.07		%	10.16		%	10.28		%	10.51		%	10.20		%	10.51		%
Tier 1 ratio ⁽²⁾	10.20		%	10.07		%	10.16		%	10.29		%	10.52		%	10.20		%	10.52		%
Total capital ratio ⁽²⁾	12.82		%	12.70		%	12.84		%	13.04		%	13.37		%	12.82		%	13.37		%
Leverage ratio ⁽²⁾	8.45		%	8.38		%	8.27		%	8.33		%	8.58		%	8.45		%	8.58		%

AVERAGE BALANCE SHEET ITEMS
Loans ⁽³⁾	$	5,743,773		$	5,569,080		$	5,417,812		$	5,248,465		$	5,032,708		$	5,577,497		$	4,866,577
FDIC indemnification asset	14,031			15,404			17,138			18,437			19,848			15,519			20,893
Investment securities	1,811,240			1,869,540			1,938,772			1,934,173			1,848,083			1,872,958			1,798,143
Interest-bearing deposits with other banks	22,116			21,687			24,291			18,920			37,468			22,696			26,287
Total earning assets	$	7,591,160		$	7,475,711		$	7,398,013		$	7,219,995		$	6,938,107		$	7,488,670		$	6,711,900
Total assets	$	8,322,156		$	8,203,837		$	8,118,945		$	7,950,278		$	7,611,389		$	8,215,370		$	7,353,698
Noninterest-bearing deposits	$	1,453,842		$	1,441,068		$	1,386,768		$	1,402,283		$	1,344,049		$	1,427,323		$	1,318,746
Interest-bearing deposits	4,746,887			4,867,439			4,749,253			4,845,056			4,615,886			4,787,710			4,475,485
Total deposits	$	6,200,729		$	6,308,507		$	6,136,021		$	6,247,339		$	5,959,935		$	6,215,033		$	5,794,231
Borrowings	$	1,153,042		$	965,951		$	1,065,739		$	763,408		$	746,706		$	1,061,911		$	675,185
Shareholders' equity	$	856,296		$	837,412		$	821,588		$	817,756		$	812,396		$	838,497		$	800,589

CREDIT QUALITY RATIOS
Allowance to ending loans	1.00		%	0.99		%	0.98		%	0.99		%	1.02		%	1.00		%	1.02		%
Allowance to nonaccrual loans	314.84		%	254.56		%	244.16		%	190.73		%	149.33		%	314.84		%	149.33		%
Allowance to nonperforming loans	114.17		%	112.74		%	103.07		%	93.89		%	95.34		%	114.17		%	95.34		%
Nonperforming loans to total loans	0.87		%	0.88		%	0.95		%	1.06		%	1.07		%	0.87		%	1.07		%
Nonperforming assets to ending loans, plus OREO	1.00		%	1.04		%	1.16		%	1.30		%	1.36		%	1.00		%	1.36		%
Nonperforming assets to total assets	0.69		%	0.72		%	0.78		%	0.86		%	0.90		%	0.69		%	0.90		%
Net charge-offs to average loans (annualized)	0.05		%	0.08		%	0.10		%	0.14		%	0.17		%	0.08		%	0.20		%

(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% 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.

(2) September 30, 2016 regulatory capital ratios are preliminary.

(3) 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,
	2016			2015			% Change		2016			2015			% Change
Interest income
Loans, including fees	$	66,997		$	58,694		14.1	%	$	194,820		$	167,744		16.1	%
Investment securities
Taxable	10,326			9,986			3.4	%	32,405			28,875			12.2	%
Tax-exempt	1,083			1,163			(6.9	)%	3,401			3,419			(0.5	)%
Total investment securities interest	11,409			11,149			2.3	%	35,806			32,294			10.9	%
Other earning assets	(1,081		)	(1,168		)	7.4	%	(3,323		)	(3,511		)	(5.4	)%
Total interest income	77,325			68,675			12.6	%	227,303			196,527			15.7	%

Interest expense
Deposits	5,600			4,861			15.2	%	16,587			14,302			16.0	%
Short-term borrowings	1,368			374			265.8	%	3,591			930			286.1	%
Long-term borrowings	1,539			281			447.7	%	4,620			876			427.4	%
Total interest expense	8,507			5,516			54.2	%	24,798			16,108			53.9	%
Net interest income	68,818			63,159			9.0	%	202,505			180,419			12.2	%
Provision for loan and lease losses	1,687			2,647			(36.3	)%	7,379			7,777			(5.1	)%
Net interest income after provision for loan and lease losses	67,131			60,512			10.9	%	195,126			172,642			13.0	%

Noninterest income
Service charges on deposit accounts	5,056			4,934			2.5	%	13,892			14,260			(2.6	)%
Trust and wealth management fees	3,236			3,134			3.3	%	9,959			10,042			(0.8	)%
Bankcard income	2,984			2,909			2.6	%	8,996			8,501			5.8	%
Client derivative fees	1,210			1,604			(24.6	)%	4,104			3,444			19.2	%
Net gains from sales of loans	2,066			1,758			17.5	%	5,093			5,146			(1.0	)%
Net gains on sale of investment securities	398			409			(2.7	)%	234			1,503			(84.4	)%
FDIC loss sharing income	(638		)	(973		)	(34.4	)%	(1,144		)	(2,323		)	(50.8	)%
Accelerated discount on covered / formerly covered loans	491			3,820			(87.1	)%	2,653			10,006			(73.5	)%
Other	2,146			2,760			(22.2	)%	8,868			8,804			0.7	%
Total noninterest income	16,949			20,355			(16.7	)%	52,655			59,383			(11.3	)%

Noninterest expenses
Salaries and employee benefits	32,093			27,768			15.6	%	91,234			82,160			11.0	%
Net occupancy	4,543			4,510			0.7	%	13,991			13,895			0.7	%
Furniture and equipment	2,139			2,165			(1.2	)%	6,482			6,537			(0.8	)%
Data processing	2,828			2,591			9.1	%	8,311			8,020			3.6	%
Marketing	641			810			(20.9	)%	2,507			2,671			(6.1	)%
Communication	527			531			(0.8	)%	1,485			1,659			(10.5	)%
Professional services	1,460			4,092			(64.3	)%	4,572			7,789			(41.3	)%
State intangible tax	639			579			10.4	%	1,917			1,733			10.6	%
FDIC assessments	1,048			1,103			(5.0	)%	3,292			3,307			(0.5	)%
Loss (gain) - other real estate owned	(112		)	196			(157.1	)%	(259		)	1,089			(123.8	)%
Loss sharing expense	270			574			(53.0	)%	555			1,451			(61.8	)%
Other	5,029			8,073			(37.7	)%	17,151			19,535			(12.2	)%
Total noninterest expenses	51,105			52,992			(3.6	)%	151,238			149,846			0.9	%
Income before income taxes	32,975			27,875			18.3	%	96,543			82,179			17.5	%
Income tax expense	10,125			9,202			10.0	%	31,311			26,936			16.2	%
Net income	$	22,850		$	18,673		22.4	%	$	65,232		$	55,243		18.1	%

ADDITIONAL DATA
Net earnings per share - basic	$	0.37		$	0.31				$	1.07		$	0.90
Net earnings per share - diluted	$	0.37		$	0.30				$	1.05		$	0.89
Dividends declared per share	$	0.16		$	0.16				$	0.48		$	0.48

Return on average assets	1.09		%	0.97		%			1.06		%	1.00		%
Return on average shareholders' equity	10.62		%	9.12		%			10.39		%	9.23		%

Interest income	$	77,325		$	68,675		12.6	%	$	227,303		$	196,527		15.7	%
Tax equivalent adjustment	1,028			1,000			2.8	%	3,138			2,971			5.6	%
Interest income - tax equivalent	78,353			69,675			12.5	%	230,441			199,498			15.5	%
Interest expense	8,507			5,516			54.2	%	24,798			16,108			53.9	%
Net interest income - tax equivalent	$	69,846		$	64,159		8.9	%	$	205,643		$	183,390		12.1	%

Net interest margin	3.61		%	3.61		%			3.61		%	3.59		%
Net interest margin (fully tax equivalent) ⁽¹⁾	3.66		%	3.67		%			3.67		%	3.65		%

Full-time equivalent employees	1,402			1,394

(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% 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.
N/M = Not meaningful.



FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)

	2016
	Third			Second			First			Full			% Change
	Quarter			Quarter			Quarter			Year			Linked Qtr.
Interest income
Loans, including fees	$	66,997		$	64,424		$	63,399		$	194,820		4.0	%
Investment securities
Taxable	10,326			10,706			11,373			32,405			(3.5	)%
Tax-exempt	1,083			1,156			1,162			3,401			(6.3	)%
Total investment securities interest	11,409			11,862			12,535			35,806			(3.8	)%
Other earning assets	(1,081		)	(1,103		)	(1,139		)	(3,323		)	2.0	%
Total interest income	77,325			75,183			74,795			227,303			2.8	%

Interest expense
Deposits	5,600			5,457			5,530			16,587			2.6	%
Short-term borrowings	1,368			1,053			1,170			3,591			29.9	%
Long-term borrowings	1,539			1,541			1,540			4,620			(0.1	)%
Total interest expense	8,507			8,051			8,240			24,798			5.7	%
Net interest income	68,818			67,132			66,555			202,505			2.5	%
Provision for loan and lease losses	1,687			4,037			1,655			7,379			(58.2	)%
Net interest income after provision for loan and lease losses	67,131			63,095			64,900			195,126			6.4	%

Noninterest income
Service charges on deposit accounts	5,056			4,455			4,381			13,892			13.5	%
Trust and wealth management fees	3,236			3,283			3,440			9,959			(1.4	)%
Bankcard income	2,984			3,130			2,882			8,996			(4.7	)%
Client derivative fees	1,210			1,799			1,095			4,104			(32.7	)%
Net gains from sales of loans	2,066			1,846			1,181			5,093			11.9	%
Net gains on sale of investment securities	398			(188		)	24			234			(311.7	)%
FDIC loss sharing income	(638		)	59			(565		)	(1,144		)	N/M
Accelerated discount on covered / formerly covered loans	491			1,191			971			2,653			(58.8	)%
Other	2,146			4,619			2,103			8,868			(53.5	)%
Total noninterest income	16,949			20,194			15,512			52,655			(16.1	)%

Noninterest expenses
Salaries and employee benefits	32,093			29,526			29,615			91,234			8.7	%
Net occupancy	4,543			4,491			4,957			13,991			1.2	%
Furniture and equipment	2,139			2,130			2,213			6,482			0.4	%
Data processing	2,828			2,765			2,718			8,311			2.3	%
Marketing	641			801			1,065			2,507			(20.0	)%
Communication	527			477			481			1,485			10.5	%
Professional services	1,460			1,299			1,813			4,572			12.4	%
State intangible tax	639			639			639			1,917			0.0	%
FDIC assessments	1,048			1,112			1,132			3,292			(5.8	)%
Loss (gain) - other real estate owned	(112		)	43			(190		)	(259		)	(360.5	)%
Loss sharing expense	270			(12		)	297			555			N/M
Other	5,029			6,142			5,980			17,151			(18.1	)%
Total noninterest expenses	51,105			49,413			50,720			151,238			3.4	%
Income before income taxes	32,975			33,876			29,692			96,543			(2.7	)%
Income tax expense	10,125			11,308			9,878			31,311			(10.5	)%
Net income	$	22,850		$	22,568		$	19,814		$	65,232		1.2	%

ADDITIONAL DATA
Net earnings per share - basic	$	0.37		$	0.37		$	0.32		$	1.07
Net earnings per share - diluted	$	0.37		$	0.36		$	0.32		$	1.05
Dividends declared per share	$	0.16		$	0.16		$	0.16		$	0.48

Return on average assets	1.09		%	1.11		%	0.98		%	1.06		%
Return on average shareholders' equity	10.62		%	10.84		%	9.70		%	10.39		%

Interest income	$	77,325		$	75,183		$	74,795		$	227,303		2.8	%
Tax equivalent adjustment	1,028			1,058			1,052			3,138			(2.8	)%
Interest income - tax equivalent	78,353			76,241			75,847			230,441			2.8	%
Interest expense	8,507			8,051			8,240			24,798			5.7	%
Net interest income - tax equivalent	$	69,846		$	68,190		$	67,607		$	205,643		2.4	%

Net interest margin	3.61		%	3.61		%	3.62		%	3.61		%
Net interest margin (fully tax equivalent)⁽¹⁾	3.66		%	3.67		%	3.68		%	3.67		%

Full-time equivalent employees	1,402			1,403			1,390

(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% 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.
N/M = Not meaningful.



FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)

	2015
	Fourth			Third			Second			First			Full
	Quarter			Quarter			Quarter			Quarter			Year
Interest income
Loans, including fees	$	62,502		$	58,694		$	54,586		$	54,464		$	230,246
Investment securities
Taxable	10,702			9,986			9,281			9,608			39,577
Tax-exempt	1,192			1,163			1,139			1,117			4,611
Total investment securities interest	11,894			11,149			10,420			10,725			44,188
Other earning assets	(1,164		)	(1,168		)	(1,162		)	(1,181		)	(4,675		)
Total interest income	73,232			68,675			63,844			64,008			269,759

Interest expense
Deposits	5,172			4,861			4,621			4,820			19,474
Short-term borrowings	434			374			253			303			1,364
Long-term borrowings	1,543			281			296			299			2,419
Total interest expense	7,149			5,516			5,170			5,422			23,257
Net interest income	66,083			63,159			58,674			58,586			246,502
Provision for loan and lease losses	1,864			2,647			3,070			2,060			9,641
Net interest income after provision for loan and lease losses	64,219			60,512			55,604			56,526			236,861

Noninterest income
Service charges on deposit accounts	4,755			4,934			4,803			4,523			19,015
Trust and wealth management fees	3,086			3,134			3,274			3,634			13,128
Bankcard income	3,077			2,909			2,972			2,620			11,578
Client derivative fees	945			1,604			878			962			4,389
Net gains from sales of loans	1,325			1,758			1,924			1,464			6,471
Net gains on sale of investment securities	2			409			1,094			0			1,505
FDIC loss sharing income	(164		)	(973		)	(304		)	(1,046		)	(2,487		)
Accelerated discount on covered / formerly covered loans	785			3,820			4,094			2,092			10,791
Other	2,008			2,760			2,680			3,364			10,812
Total noninterest income	15,819			20,355			21,415			17,613			75,202

Noninterest expenses
Salaries and employee benefits	29,632			27,768			27,451			26,941			111,792
Net occupancy	4,337			4,510			4,380			5,005			18,232
Furniture and equipment	2,185			2,165			2,219			2,153			8,722
Data processing	2,843			2,591			2,657			2,772			10,863
Marketing	1,052			810			973			888			3,723
Communication	502			531			558			570			2,161
Professional services	1,833			4,092			1,727			1,970			9,622
State intangible tax	598			579			577			577			2,331
FDIC assessments	1,139			1,103			1,114			1,090			4,446
Loss (gain) - other real estate owned	772			196			419			474			1,861
Loss sharing expense	414			574			576			301			1,865
Other	5,977			8,073			6,135			5,327			25,512
Total noninterest expenses	51,284			52,992			48,786			48,068			201,130
Income before income taxes	28,754			27,875			28,233			26,071			110,933
Income tax expense	8,934			9,202			9,284			8,450			35,870
Net income	$	19,820		$	18,673		$	18,949		$	17,621		$	75,063

ADDITIONAL DATA
Net earnings per share - basic	$	0.33		$	0.31		$	0.31		$	0.29		$	1.23
Net earnings per share - diluted	$	0.32		$	0.30		$	0.31		$	0.29		$	1.21
Dividends declared per share	$	0.16		$	0.16		$	0.16		$	0.16		$	0.64

Return on average assets	0.99		%	0.97		%	1.05		%	0.99		%	1.00		%
Return on average shareholders' equity	9.62		%	9.12		%	9.49		%	9.06		%	9.33		%

Interest income	$	73,232		$	68,675		$	63,844		$	64,008		$	269,759
Tax equivalent adjustment	1,046			1,000			988			983			4,017
Interest income - tax equivalent	74,278			69,675			64,832			64,991			273,776
Interest expense	7,149			5,516			5,170			5,422			23,257
Net interest income - tax equivalent	$	67,129		$	64,159		$	59,662		$	59,569		$	250,519

Net interest margin	3.63		%	3.61		%	3.56		%	3.61		%	3.60		%
Net interest margin (fully tax equivalent)⁽¹⁾	3.69		%	3.67		%	3.62		%	3.67		%	3.66		%

Full-time equivalent employees	1,400			1,394			1,366			1,353

(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% 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.
CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)

	Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			% Change		% Change
	2016			2016			2016			2015			2015			Linked Qtr.		Comparable Qtr.
ASSETS
Cash and due from banks	$	117,982		$	106,174		$	102,675		$	114,841		$	112,298		11.1	%	5.1	%
Interest-bearing deposits with other banks	16,765			18,911			15,582			33,734			24,191			(11.3	)%	(30.7	)%
Investment securities available-for-sale	1,120,494			1,114,349			1,164,319			1,190,642			1,069,667			0.6	%	4.8	%
Investment securities held-to-maturity	628,497			670,111			702,315			726,259			756,035			(6.2	)%	(16.9	)%
Other investments	51,170			51,261			53,255			53,725			53,431			(0.2	)%	(4.2	)%
Loans held for sale	17,414			10,494			15,369			20,957			26,287			65.9	%	(33.8	)%
Loans and leases
Commercial and industrial	1,782,782			1,794,533			1,744,732			1,663,102			1,637,467			(0.7	)%	8.9	%
Lease financing	96,046			100,263			101,135			93,986			82,679			(4.2	)%	16.2	%
Construction - real estate	380,349			374,949			341,453			311,712			276,240			1.4	%	37.7	%
Commercial - real estate	2,468,083			2,363,456			2,261,857			2,258,297			2,169,662			4.4	%	13.8	%
Residential - real estate	507,715			512,800			508,512			512,311			506,653			(1.0	)%	0.2	%
Home equity	463,702			467,549			466,010			466,629			463,629			(0.8	)%	0.0	%
Installment	47,825			46,917			41,627			41,506			39,974			1.9	%	19.6	%
Credit card	43,009			40,746			39,283			41,217			39,759			5.6	%	8.2	%
Total loans	5,789,511			5,701,213			5,504,609			5,388,760			5,216,063			1.5	%	11.0	%
Less
Allowance for loan and lease losses	57,618			56,708			53,732			53,398			53,332			1.6	%	8.0	%
Net loans	5,731,893			5,644,505			5,450,877			5,335,362			5,162,731			1.5	%	11.0	%
Premises and equipment	132,082			133,969			138,036			136,603			139,020			(1.4	)%	(5.0	)%
Goodwill and other intangibles	210,888			211,199			211,533			211,865			211,732			(0.1	)%	(0.4	)%
FDIC indemnification asset	13,287			14,504			16,256			17,630			18,931			(8.4	)%	(29.8	)%
Accrued interest and other assets	328,009			334,625			323,337			305,793			306,210			(2.0	)%	7.1	%
Total Assets	$	8,368,481		$	8,310,102		$	8,193,554		$	8,147,411		$	7,880,533		0.7	%	6.2	%

LIABILITIES
Deposits
Interest-bearing demand	$	1,494,529		$	1,436,078		$	1,430,963		$	1,414,291		$	1,330,673		4.1	%	12.3	%
Savings	2,005,407			1,974,449			1,922,892			1,945,805			1,979,627			1.6	%	1.3	%
Time	1,346,736			1,279,934			1,414,313			1,406,124			1,440,223			5.2	%	(6.5	)%
Total interest-bearing deposits	4,846,672			4,690,461			4,768,168			4,766,220			4,750,523			3.3	%	2.0	%
Noninterest-bearing	1,492,011			1,429,163			1,408,609			1,413,404			1,330,905			4.4	%	12.1	%
Total deposits	6,338,683			6,119,624			6,176,777			6,179,624			6,081,428			3.6	%	4.2	%
Federal funds purchased and securities sold
under agreements to repurchase	77,936			80,084			75,499			89,325			62,317			(2.7	)%	25.1	%
FHLB short-term borrowings	848,300			1,035,000			894,400			849,100			701,200			(18.0	)%	21.0	%
Total short-term borrowings	926,236			1,115,084			969,899			938,425			763,517			(16.9	)%	21.3	%
Long-term debt	119,549			119,596			119,556			119,540			119,515			0.0	%	0.0	%
Total borrowed funds	1,045,785			1,234,680			1,089,455			1,057,965			883,032			(15.3	)%	18.4	%
Accrued interest and other liabilities	122,876			109,075			100,735			100,446			103,061			12.7	%	19.2	%
Total Liabilities	7,507,344			7,463,379			7,366,967			7,338,035			7,067,521			0.6	%	6.2	%

SHAREHOLDERS' EQUITY
Common stock	569,199			567,687			567,497			571,155			570,025			0.3	%	(0.1	)%
Retained earnings	423,800			410,893			398,224			388,240			378,258			3.1	%	12.0	%
Accumulated other comprehensive loss	(17,522		)	(17,688		)	(23,209		)	(30,580		)	(17,219		)	(0.9	)%	1.8	%
Treasury stock, at cost	(114,340		)	(114,169		)	(115,925		)	(119,439		)	(118,052		)	0.1	%	(3.1	)%
Total Shareholders' Equity	861,137			846,723			826,587			809,376			813,012			1.7	%	5.9	%
Total Liabilities and Shareholders' Equity	$	8,368,481		$	8,310,102		$	8,193,554		$	8,147,411		$	7,880,533		0.7	%	6.2	%



FIRST FINANCIAL BANCORP.
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)

	Quarterly Averages															Year-to-Date Averages
	Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			September 30,
	2016			2016			2016			2015			2015			2016			2015
ASSETS
Cash and due from banks	$	116,441		$	121,426		$	117,782		$	119,881		$	114,279		$	118,542		$	113,720
Interest-bearing deposits with other banks	22,116			21,687			24,291			18,920			37,468			22,696			26,287
Investment securities	1,811,240			1,869,540			1,938,772			1,934,173			1,848,083			1,872,958			1,798,143
Loans held for sale	11,197			11,752			13,216			18,677			15,185			12,052			11,052
Loans and leases
Commercial and industrial	1,786,461			1,752,237			1,657,279			1,612,485			1,464,508			1,732,191			1,361,861
Lease financing	96,518			100,103			94,935			89,200			83,300			97,183			81,333
Construction - real estate	380,894			348,100			322,600			295,574			259,972			350,642			234,052
Commercial - real estate	2,400,308			2,294,980			2,270,686			2,180,015			2,164,917			2,322,277			2,137,397
Residential - real estate	512,341			510,262			509,422			505,208			500,544			510,681			498,130
Home equity	466,062			466,170			466,722			465,131			462,283			466,317			459,942
Installment	47,428			44,438			41,698			41,148			42,008			44,532			43,580
Credit card	42,564			41,038			41,254			41,027			39,991			41,622			39,230
Total loans	5,732,576			5,557,328			5,404,596			5,229,788			5,017,523			5,565,445			4,855,525
Less
Allowance for loan and lease losses	58,284			55,504			54,882			53,731			54,398			56,231			54,239
Net loans	5,674,292			5,501,824			5,349,714			5,176,057			4,963,125			5,509,214			4,801,286
Premises and equipment	133,360			137,927			138,377			138,689			139,457			136,543			140,236
Goodwill and other intangibles	211,029			211,363			211,707			211,722			179,333			211,365			156,964
FDIC indemnification asset	14,031			15,404			17,138			18,437			19,848			15,519			20,893
Accrued interest and other assets	328,450			312,914			307,948			313,722			294,611			316,481			285,117
Total Assets	$	8,322,156		$	8,203,837		$	8,118,945		$	7,950,278		$	7,611,389		$	8,215,370		$	7,353,698

LIABILITIES
Deposits
Interest-bearing demand	$	1,447,226		$	1,483,025		$	1,391,591		$	1,423,915		$	1,230,621		$	1,440,638		$	1,209,291
Savings	2,015,602			2,042,188			1,938,206			2,005,100			2,015,373			1,998,727			1,960,443
Time	1,284,059			1,342,226			1,419,456			1,416,041			1,369,892			1,348,345			1,305,751
Total interest-bearing deposits	4,746,887			4,867,439			4,749,253			4,845,056			4,615,886			4,787,710			4,475,485
Noninterest-bearing	1,453,842			1,441,068			1,386,768			1,402,283			1,344,049			1,427,323			1,318,746
Total deposits	6,200,729			6,308,507			6,136,021			6,247,339			5,959,935			6,215,033			5,794,231
Federal funds purchased and securities sold
under agreements to repurchase	87,343			86,457			89,349			79,354			68,505			87,715			71,114
FHLB short-term borrowings	946,096			759,919			856,837			564,522			606,618			854,619			548,426
Total short-term borrowings	1,033,439			846,376			946,186			643,876			675,123			942,334			619,540
Long-term debt	119,603			119,575			119,553			119,532			71,583			119,577			55,645
Total borrowed funds	1,153,042			965,951			1,065,739			763,408			746,706			1,061,911			675,185
Accrued interest and other liabilities	112,089			91,967			95,597			121,775			92,352			99,929			83,693
Total Liabilities	7,465,860			7,366,425			7,297,357			7,132,522			6,798,993			7,376,873			6,553,109

SHAREHOLDERS' EQUITY
Common stock	568,203			567,682			570,558			570,510			570,723			568,812			571,899
Retained earnings	419,901			406,788			395,756			385,295			378,160			407,527			366,700
Accumulated other comprehensive loss	(17,701		)	(21,901		)	(26,165		)	(18,962		)	(19,725		)	(21,907		)	(19,375		)
Treasury stock, at cost	(114,107		)	(115,157		)	(118,561		)	(119,087		)	(116,762		)	(115,935		)	(118,635		)
Total Shareholders' Equity	856,296			837,412			821,588			817,756			812,396			838,497			800,589
Total Liabilities and Shareholders' Equity	$	8,322,156		$	8,203,837		$	8,118,945		$	7,950,278		$	7,611,389		$	8,215,370		$	7,353,698



FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE/VOLUME ANALYSIS ⁽¹⁾
(Dollars in thousands)
(Unaudited)

	Quarterly Averages															Year-to-Date Averages
	September 30, 2016					June 30, 2016					September 30, 2015					September 30, 2016					September 30, 2015
	Balance			Yield		Balance			Yield		Balance			Yield		Balance			Yield		Balance			Yield
Earning assets
Investments:
Investment securities	$	1,811,240		2.50	%	$	1,869,540		2.54	%	$	1,848,083		2.39	%	$	1,872,958		2.56	%	$	1,798,143		2.40	%
Interest-bearing deposits with other banks	22,116			0.54	%	21,687			0.50	%	37,468			0.25	%	22,696			0.52	%	26,287			0.26	%
Gross loans ⁽²⁾	5,757,804			4.54	%	5,584,484			4.55	%	5,052,556			4.52	%	5,593,016			4.58	%	4,887,470			4.49	%
Total earning assets	7,591,160			4.04	%	7,475,711			4.03	%	6,938,107			3.93	%	7,488,670			4.06	%	6,711,900			3.91	%

Nonearning assets
Allowance for loan and lease losses	(58,284		)			(55,504		)			(54,398		)			(56,231		)			(54,239		)
Cash and due from banks	116,441					121,426					114,279					118,542					113,720
Accrued interest and other assets	672,839					662,204					613,401					664,389					582,317
Total assets	$	8,322,156				$	8,203,837				$	7,611,389				$	8,215,370				$	7,353,698

Interest-bearing liabilities
Deposits:
Interest-bearing demand	$	1,447,226		0.15	%	$	1,483,025		0.13	%	$	1,230,621		0.09	%	$	1,440,638		0.14	%	$	1,209,291		0.08	%
Savings	2,015,602			0.27	%	2,042,188			0.25	%	2,015,373			0.19	%	1,998,727			0.26	%	1,960,443			0.22	%
Time	1,284,059			1.14	%	1,342,226			1.10	%	1,369,892			1.05	%	1,348,345			1.10	%	1,305,751			1.07	%
Total interest-bearing deposits	4,746,887			0.47	%	4,867,439			0.45	%	4,615,886			0.42	%	4,787,710			0.46	%	4,475,485			0.43	%
Borrowed funds
Short-term borrowings	1,033,439			0.53	%	846,376			0.50	%	675,123			0.22	%	942,334			0.51	%	619,540			0.20	%
Long-term debt	119,603			5.11	%	119,575			5.17	%	71,583			1.56	%	119,577			5.17	%	55,645			2.10	%
Total borrowed funds	1,153,042			1.00	%	965,951			1.08	%	746,706			0.35	%	1,061,911			1.03	%	675,185			0.36	%
Total interest-bearing liabilities	5,899,929			0.57	%	5,833,390			0.55	%	5,362,592			0.41	%	5,849,621			0.57	%	5,150,670			0.42	%

Noninterest-bearing liabilities
Noninterest-bearing demand deposits	1,453,842					1,441,068					1,344,049					1,427,323					1,318,746
Other liabilities	112,089					91,967					92,352					99,929					83,693
Shareholders' equity	856,296					837,412					812,396					838,497					800,589
Total liabilities & shareholders' equity	$	8,322,156				$	8,203,837				$	7,611,389				$	8,215,370				$	7,353,698

Net interest income ⁽¹⁾	$	68,818				$	67,132				$	63,159				$	202,505				$	180,419
Net interest spread ⁽¹⁾				3.47	%				3.48	%				3.52	%				3.49	%				3.49	%
Net interest margin ⁽¹⁾				3.61	%				3.61	%				3.61	%				3.61	%				3.59	%


⁽¹⁾ Not tax equivalent.
⁽²⁾ Loans held for sale, nonaccrual loans, covered loans, and indemnification asset are included in gross loans.



FIRST FINANCIAL BANCORP.
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	$	(214	)	$	(239	)	$	(453	)	$	492		$	(232	)	$	260	$	2,082	$	1,430		$	3,512
Interest-bearing deposits with other banks	2			1			3			27			(21		)	6		52		(14		)	38
Gross loans ⁽²⁾	(86		)	2,678			2,592			314			8,070			8,384		3,080		24,146			27,226
Total earning assets	(298		)	2,440			2,142			833			7,817			8,650		5,214		25,562			30,776

Interest-bearing liabilities
Total interest-bearing deposits	$	223		$	(80	)	$	143		$	584		$	155		$	739	$	1,203	$	1,082		$	2,285
Borrowed funds
Short-term borrowings	55			260			315			520			474			994		1,431		1,230			2,661
Long-term debt	(19		)	17			(2		)	640			618			1,258		1,274		2,470			3,744
Total borrowed funds	36			277			313			1,160			1,092			2,252		2,705		3,700			6,405
Total interest-bearing liabilities	259			197			456			1,744			1,247			2,991		3,908		4,782			8,690
Net interest income ⁽¹⁾	$	(557	)	$	2,243		$	1,686		$	(911	)	$	6,570		$	5,659	$	1,306	$	20,780		$	22,086


⁽¹⁾ Not tax equivalent.
⁽²⁾ Loans held for sale, nonaccrual loans, covered loans, and indemnification asset are included in gross loans.



FIRST FINANCIAL BANCORP.
CREDIT QUALITY
(Dollars in thousands)
(Unaudited)

																Nine months ended
	Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Sep. 30,			Sep. 30,
	2016			2016			2016			2015			2015			2016			2015
ALLOWANCE FOR LOAN AND LEASE LOSS ACTIVITY
Balance at beginning of period	$	56,708		$	53,732		$	53,398		$	53,332		$	52,876		$	53,398		$	52,858
Provision for loan and lease losses	1,687			4,037			1,655			1,864			2,647			7,379			7,777
Gross charge-offs
Commercial and industrial	296			265			479			777			1,808			1,040			4,631
Construction - real estate	64			28			3			0			85			95			85
Commercial - real estate	1,135			1,596			1,262			4,415			1,082			3,993			5,668
Residential - real estate	90			28			45			82			288			163			1,449
Home equity	475			398			340			633			268			1,213			1,258
Installment	223			30			73			129			155			326			380
Other	267			357			240			242			276			864			807
Total gross charge-offs	2,550			2,702			2,442			6,278			3,962			7,694			14,278
Recoveries
Commercial and industrial	327			420			222			841			374			969			2,883
Construction - real estate	6			202			26			104			87			234			149
Commercial - real estate	997			681			442			2,927			691			2,120			2,287
Residential - real estate	38			81			63			214			237			182			344
Home equity	257			131			188			104			236			576			897
Installment	56			62			99			216			94			217			247
Other	92			64			81			74			52			237			168
Total recoveries	1,773			1,641			1,121			4,480			1,771			4,535			6,975
Total net charge-offs	777			1,061			1,321			1,798			2,191			3,159			7,303
Ending allowance for loan and lease losses	$	57,618		$	56,708		$	53,732		$	53,398		$	53,332		$	57,618		$	53,332

NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)
Commercial and industrial	(0.01		)%	(0.04		)%	0.06		%	(0.02		)%	0.39		%	0.01		%	0.17		%
Construction - real estate	0.06		%	(0.20		)%	(0.03		)%	(0.14		)%	0.00		%	(0.05		)%	(0.04		)%
Commercial - real estate	0.02		%	0.16		%	0.15		%	0.27		%	0.07		%	0.11		%	0.21		%
Residential - real estate	0.04		%	(0.04		)%	(0.01		)%	(0.10		)%	0.04		%	0.00		%	0.30		%
Home equity	0.19		%	0.23		%	0.13		%	0.45		%	0.03		%	0.18		%	0.10		%
Installment	1.40		%	(0.29		)%	(0.25		)%	(0.84		)%	0.58		%	0.33		%	0.41		%
Other	0.50		%	0.83		%	0.47		%	0.51		%	0.72		%	0.60		%	0.71		%
Total net charge-offs	0.05		%	0.08		%	0.10		%	0.14		%	0.17		%	0.08		%	0.20		%

COMPONENTS OF NONPERFORMING LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans ⁽¹⁾
Commercial and industrial	$	3,201		$	2,980		$	3,917		$	8,405		$	7,438		$	3,201		$	7,438
Construction - real estate	0			0			0			0			79			0			79
Commercial - real estate	5,985			8,750			8,577			9,418			17,732			5,985			17,732
Residential - real estate	4,759			4,824			4,243			5,027			4,940			4,759			4,940
Home equity	3,815			4,123			5,036			4,898			5,203			3,815			5,203
Installment	327			433			113			127			321			327			321
Lease financing	214			1,167			121			122			0			214			0
Nonaccrual loans	18,301			22,277			22,007			27,997			35,713			18,301			35,713
Accruing troubled debt restructurings (TDRs)	32,164			28,022			30,127			28,876			20,226			32,164			20,226
Total nonperforming loans	50,465			50,299			52,134			56,873			55,939			50,465			55,939
Other real estate owned (OREO)	7,577			9,302			11,939			13,254			15,187			7,577			15,187
Total nonperforming assets	58,042			59,601			64,073			70,127			71,126			58,042			71,126
Accruing loans past due 90 days or more	130			981			59			108			58			130			58
Total underperforming assets	$	58,172		$	60,582		$	64,132		$	70,235		$	71,184		$	58,172		$	71,184
Total classified assets	$	142,169		$	143,331		$	133,940		$	132,431		$	130,132		$	142,169		$	130,132

CREDIT QUALITY RATIOS
Allowance for loan and lease losses to
Nonaccrual loans	314.84		%	254.56		%	244.16		%	190.73		%	149.33		%	314.84		%	149.33		%
Nonperforming loans	114.17		%	112.74		%	103.07		%	93.89		%	95.34		%	114.17		%	95.34		%
Total ending loans	1.00		%	0.99		%	0.98		%	0.99		%	1.02		%	1.00		%	1.02		%
Nonperforming loans to total loans	0.87		%	0.88		%	0.95		%	1.06		%	1.07		%	0.87		%	1.07		%
Nonperforming assets to
Ending loans, plus OREO	1.00		%	1.04		%	1.16		%	1.30		%	1.36		%	1.00		%	1.36		%
Total assets	0.69		%	0.72		%	0.78		%	0.86		%	0.90		%	0.69		%	0.90		%
Nonperforming assets, excluding accruing TDRs to
Ending loans, plus OREO	0.45		%	0.55		%	0.62		%	0.76		%	0.97		%	0.45		%	0.97		%
Total assets	0.31		%	0.38		%	0.41		%	0.51		%	0.65		%	0.31		%	0.65		%

(1) Nonaccrual loans include nonaccrual TDRs of $5.6 million, $8.0 million, $7.5 million, $9.3 million, and $13.6 million, as of September 30, 2016, June 30, 2016, March 31, 2016, December 31, 2015, and September 30, 2015, respectively.



FIRST FINANCIAL BANCORP.
CAPITAL ADEQUACY
(Dollars in thousands, except per share data)
(Unaudited)
																Nine months ended,
	Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Sep. 30,			Sep. 30,
	2016			2016			2016			2015			2015			2016			2015
PER COMMON SHARE
Market Price
High	$	22.52		$	20.16		$	18.36		$	20.72		$	19.69		$	22.52		$	19.69
Low	$	18.83		$	17.49		$	14.91		$	17.83		$	17.55		$	14.91		$	16.52
Close	$	21.84		$	19.45		$	18.18		$	18.07		$	19.08		$	21.84		$	19.08

Average shares outstanding - basic	61,280,283			61,194,254			61,036,797			60,985,096			61,135,749			61,170,845			61,088,794
Average shares outstanding - diluted	62,086,067			62,027,008			61,840,247			61,861,182			61,987,795			61,962,961			61,858,724
Ending shares outstanding	61,952,873			61,959,529			61,855,027			61,641,680			61,713,633			61,952,873			61,713,633

Total shareholders' equity	$	861,137		$	846,723		$	826,587		$	809,376		$	813,012		$	861,137		$	813,012

REGULATORY CAPITAL ⁽¹⁾	Preliminary															Preliminary
Common equity tier 1 capital	$	688,363		$	673,313		$	658,001		$	648,748		$	638,574		$	688,363		$	638,574
Common equity tier 1 capital ratio	10.20		%	10.07		%	10.16		%	10.28		%	10.51		%	10.20		%	10.51		%
Tier 1 capital	$	688,467		$	673,417		$	658,105		$	648,852		$	638,678		$	688,467		$	638,678
Tier 1 ratio	10.20		%	10.07		%	10.16		%	10.29		%	10.52		%	10.20		%	10.52		%
Total capital	$	865,248		$	849,303		$	831,924		$	822,431		$	812,029		$	865,248		$	812,029
Total capital ratio	12.82		%	12.70		%	12.84		%	13.04		%	13.37		%	12.82		%	13.37		%
Total capital in excess of minimum
requirement	$	282,996		$	272,708		$	273,135		$	317,780		$	326,117		$	282,996		$	326,117
Total risk-weighted assets	$	6,750,749		$	6,685,158		$	6,478,716		$	6,308,139		$	6,073,899		$	6,750,749		$	6,073,899
Leverage ratio	8.45		%	8.38		%	8.27		%	8.33		%	8.58		%	8.45		%	8.58		%

OTHER CAPITAL RATIOS
Ending shareholders' equity to ending assets	10.29		%	10.19		%	10.09		%	9.93		%	10.32		%	10.29		%	10.32		%
Ending tangible shareholders' equity to ending tangible assets	7.97		%	7.85		%	7.71		%	7.53		%	7.84		%	7.97		%	7.84		%
Average shareholders' equity to average assets	10.29		%	10.21		%	10.12		%	10.29		%	10.67		%	10.21		%	10.89		%
Average tangible shareholders' equity to average tangible assets	7.96		%	7.83		%	7.71		%	7.83		%	8.12		%	7.84		%	8.25		%

REPURCHASE PROGRAM ⁽²⁾
Shares repurchased	0			0			0			91,032			148,935			0			148,935
Average share repurchase price	N/A			N/A			N/A			$	18.85		$	18.68		N/A			$	18.68
Total cost of shares repurchased	N/A			N/A			N/A			$	1,716		$	2,783		N/A			$	2,783

⁽¹⁾ 2015 amounts and ratios are calculated under the Basel III standardized approach
⁽²⁾Represents share repurchases as part of publicly announced plans.
N/A = Not applicable

FIRST FINANCIAL BANCORP /OH/ - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - October 20, 2016

Attached files

FIRST FINANCIAL BANCORP /OH/ Reports