First Financial Bancorp. · NASDAQ:FFBC
First Financial Bancorp — Q1 2026 Earnings Presentation
47 slides from First Financial Bancorp's earnings presentation, Jul 22, 2026
Slide 1: Investor presentation First Quarter 2026
investor presentation • First Quarter 2026
Slide 2: Forward looking statements disclosure
forward looking statements disclosure 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,” “expe
Slide 3: Forward looking statements disclosure
forward looking statements disclosure • 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;
Slide 4: Presentation contents
presentation contents About First Financial Bancorp Acquisitions Financial Performance Appendix 4
Slide 5: Our franchise
our franchise $22.8B NASDAQ: FFBC in assets Headquarters: Cincinnati, Ohio $13.5B/$17.9B Founded: 1863 loans / deposits Banking Centers: 153 Employees: 2,319 $6.0B wealth AUC1 Market Cap (3/31/26): $2.9B Dividend Yield (3/31/26): 3.6% 1.99% 1Q Adj. PTPP ROAA2 CET1 Ratio: 12.22% Lines of Business Com
Slide 6: Key investment highlights
key investment highlights ✓ Proven & sustainable business model for more than 160 years o Conservative operating philosophy with 142 consecutive quarters of profitability o Well managed through past credit cycles ✓ Premier Midwest franchise with top quartile profitability o Top quartile ROA, ROATCE,
Slide 7: An experienced & successful acquirer
an experienced & successful acquirer 1Q26 First Financial acquires BankFinancial 6 Bank Acquisitions 2025 (Total assets of ~$1.4B) First Financial acquires (Bank – IL) Westfield Bancorp 4 Non-Bank Acquisitions (Total assets of ~$2.1B) 2024 (Bank – OH) 2021 First Financial acquires First Financial ac
Slide 8: A top quartile performer
a top quartile performer Indicates 1Q26 Indicates 1Q26 Peer Top Quartile Peer Median KRX Constituents Bottom Top Quartile Median Quartile 1Q26 ROAA1 1.02% 1.20% 1.31% 1.45% Top Quartile ROATCE1 12.0% 13.9% 16.3% 19.2% & Diversified Profitability Net Interest Margin 3.33% 3.55% 3.80% 3.99% Noninteres
Slide 9: Consistent best-in-class earnings
consistent best-in-class earnings Return on Average Assets Return on Tangible Common Equity Earnings Per Share Growth KRX KRX FFBC Top Quartile1 FFBC Top Quartile1 FFBC KRX Median1 1-Year 1.40% ✓ 80% Percentile Rank 1.35% 17.8% 90% Percentile Rank ✓ 16.4% 17% ✓ 56% Percentile Rank 15% 3-Year 1.35% ✓
Slide 10: Key company brands
key company brands Diversified financial holding company with comprehensive and innovative solutions for individuals and businesses Full suite of Wealth & asset Foreign currency Specialty lender to Full-service Specialty lender for diversified financial management advisory, hedge insurance industry,
Slide 11: Complementary market centric strategies
complementary market centric strategies Loans $2.7B / Deposits $0.4B Loans $4.6B / Deposits $5.0B Loans $1.8B / Deposits $5.2B Loans $4.4B / Deposits $7.3B Fees* $97.9MM 11 Note: Financial data as of 3/31/26. Greater Cincinnati/Dayton loan and deposit balances include large public fund relationships
Slide 12: Diversified lines of business
diversified lines of business Note: Data as of 3/31/26 and excludes the impact of BankFinancial acquisition. The number of Trust & Investments and RPS relationships are updated as of 9/30/22. All other data as of 12/31/22. 12
Slide 13: Presentation contents
presentation contents About First Financial Bancorp Acquisitions Financial Performance Appendix 13
Slide 14: Acquisition update
acquisition update Westfield Bank BankFinancial • Successful conversion in March • Closed on January 1st • Stable loan and deposit balances • Conversion scheduled for June • Successful retention of client- • Sold $427 million of multi-family facing teams loans • On track to achieve financial • $8.9
Slide 15: Overview of Westfield – closed 11/1/25
overview of Westfield – closed 11/1/25 Consolidated Financial Highlights as of November 1, 2025 Headquarters: Westfield Center, OH $2.1B in assets Branches: 7 Active at close 1 opened in Feb 2026 Employees: 169 $1.6B in loans • Westfield Bancorp, the holding company for Westfield Bank, FSB (“Westfie
Slide 16: Transaction highlights
transaction highlights Strategically Compelling Financially Attractive Low Integration Risk • Accelerates entry into • Expected enhanced pro forma • Adds $2.1 billion in assets, Northeast Ohio. earnings per share. 10% of pro forma assets. • Provides attractive deposit base, branch network and • Pay-
Slide 17: Overview of BankFinancial – at close 1/1/26
overview of BankFinancial – at close 1/1/26 Overview of BankFinancial Key franchise highlights Total Assets $1.4Bn 1 Attractive low cost, core deposit franchise Total Deposits $1.2Bn 2 Significant scarcity value in Chicago MSA Headquarters Burr Ridge, Illinois Year Founded 1924 3 Strong capitalizati
Slide 18: Transaction highlights
transaction highlights ✓ Acquisition of a low cost, granular core deposit franchise with $1.5Bn of Strategically expands assets and +100 year presence in Chicago market presence in economically ✓ Complementary to existing Northwest Indiana presence, Chicago Commercial robust Chicago market with LPO,
Slide 19: Key transaction assumptions
key transaction assumptions BankFinancial • Cost Savings – Approximately 45% of BankFinancial’s annual operating expense ‒ 75% phase-in during 2026 and 100% in 2027 and thereafter Key Merger • One-Time Merger Expenses – $25 million pre-tax; fully reflected in pro forma impacts at closing Assumptions
Slide 20: Presentation contents
presentation contents About First Financial Bancorp Acquisitions Financial Performance Appendix 20
Slide 21: 1Q 2026 results
1Q 2026 results 142nd Consecutive Quarter of Profitability • Net income – $74.4 million or $0.71 per diluted share. Adjusted1 net income – $80.5 million or $0.77 per diluted share • Return on average assets – 1.34%. Adjusted 1 return on average assets – 1.45% Profitability • Return on average shareh
Slide 22: 1Q 2026 highlights
1Q 2026 highlights • Strong adjusted1 quarterly earnings driven by robust net interest margin • Adjusted1 earnings per share – $0.77 • Adjusted1 return on assets – 1.45% • Adjusted1 pre-tax, pre-provision return on assets – 1.99% • Adjusted1 return on average tangible common equity – 19.22% • Modest
Slide 23: 1Q 2026 highlights
1Q 2026 highlights • Noninterest income of $81.9 million; $75.6 million as adjusted 1; significantly outpacing expectations • Adjustments include $1.3 million loss on securities, $8.9 million gain on bargain purchase related to the BankFinancial acquisition, and $1.4 million loss on the surrender of
Slide 24: Adjusted net income
adjusted net income1 The table below lists certain adjustments that the Company believes are significant to understanding its quarterly performance. 1Q 2026 4Q 2025 As Reported Adjusted 1 As Reported Adjusted 1 Net interest income $ 189,610 $ 189,610 $ 173,995 $ 173,995 Provision for credit losses-l
Slide 25: Profitability
profitability Diluted EPS Return on Average Assets $0.80 1.54% 1.55% 1.52% $0.76 $0.77 1.45% $0.74 1.33% $0.63 1.52% 1.54% $0.73 $0.75 $0.71 1.34% $0.64 1.13% 1.22% $0.54 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 1 1 Diluted EPS Adjusted EPS ROA Adjusted ROA Return on Avg Tangible Common Equ
Slide 26: Net interest income & margin
net interest income & margin 1 11 Net Interest Income Net Interest Margin (FTE) $189.6 4.05% 4.02% 3.98% 3.99% $4.9 3.88% 0.10% $174.0 $3.2 0.13% 0.05% 0.10% $2.2 0.08% 0.12% 0.07% $158.3 $160.5 $5.2 $149.3 $4.0 $5.1 $3.1 3.95% 3.89% 3.80% 3.81% 3.82% $181.4 $166.6 $154.3 $155.4 $146.2 1Q25 2Q25 3Q2
Slide 27: Noninterest income
noninterest income Noninterest Income 1Q26 Highlights Total $81.9 million Other $2.0 3% • Adjustments include a $1.3 million loss on securities, $8.9 million gain on bargain purchase, and a $1.4 million loss on surrender of bank Gain on bargain owned life insurance policy purchase Service Charges $8
Slide 28: Noninterest expense
noninterest expense Noninterest Expense Full-time Equivalent Employees Occupancy and equipment $12.2 Data processing 7% $12.7 8% Professional services 2,319 $4.0 2,021 2,033 2,164 1,986 Salaries and benefits $169.4 2% $99.9 Total Intangible 59% amortization $6.3 4% Other 1Q25 2Q25 3Q25 4Q25 2 1Q26 3
Slide 29: Average balance sheet
average balance sheet Average Securities Average Loans 4.44% 4.42% 4.35% 4.31% 4.31% 6.88% 6.82% 6.85% 6.68% 6.50% $4,769 $12,812 $14,028 $3,412 $3,479 $3,552 $3,989 $11,725 $11,793 $11,806 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 11 Investment Securities Investment Securities Yield Loans L
Slide 30: Deposits
deposits Deposit Product Mix (Avg) 1Q26 Average Deposit Progression1 Total $17.6 billion Noninterest-bearing $96.8 Public Funds $2,019 Interest-bearing demand $70.0 Noninterest- 11% bearing Brokered $3,612 Deposits 21% Savings $16.9 $1,464 8% Money Market $277.5 Interest-bearing Retail CDs demand Re
Slide 31: Average deposit trends
average deposit trends Personal Business $8,644 $5,337 $4,841 $7,407 $4,190 $4,163 $4,307 $6,665 $6,696 $6,684 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Public Funds Uninsured Deposits Uninsured deposits (per call report instructions) $ 7,394 Less: Public funds 1,937 Less: Intercompany depos
Slide 32: Borrowing capacity & cash/investment liquidity
borrowing capacity & cash/investment liquidity Borrowing Capacity Cash/Investment Liquidity FHLB borrowing availability $ 1,431,938 • Interest-bearing deposits with other banks of Fed Discount Window availability 839,235 $1.0 billion Brokered CDs/Deposit placement services 3,117,338 • Investment sec
Slide 33: Loan portfolio
loan portfolio Loan LOB Mix (EOP) Net Loan Change-LOB (Linked Quarter) Agile Total $13.5 billion ICRE -$151.9 $298 2% Consumer Commercial & Small Business Banking -$4.4 $1,239 9% Mortgage Summit Oak Street -$15.8 $1,928 $1,084 14% 8% Summit $45.1 Oak Street $1,185 9% Agile $11.9 Consumer -$14.5 ICRE
Slide 34: Loan concentrations
loan concentrations C&I and Owner Occupied CRE Loans Investor CRE Loans by Property Type by Sector % of Total % of Total NAICS Sector 3/31/26 Loans Property Type 3/31/26 Loans Finance and Insurance $1,517.1 11.2% Residential Multi Family 5+ $1,160.4 8.6% Manufacturing 619.6 4.6% Retail Property 833.
Slide 35: Area of focus – NDFI exposure
area of focus – NDFI exposure NDFI Private Credit Exposure • Loans to NDFI totaled $423.6 million, or 3.1% • Direct Exposure of the total loan portfolio • $123.9 million outstanding • Primarily subscription lines to well- • All NDFI loans pass rated at 3/31 established funds that are either an insti
Slide 36: Allowance for credit losses
allowance for credit losses ACL / Total Loans 1Q26 Highlights • $206.7 million combined ACL; $8.5 1.39% million combined provision expense 1.34% 1.38% 1.36% 1.33% $206.7 $206.7 $175.7 $179.5 $20.2 $23.0 $171.9 $186.5 $183.7 • $183.7 million ACL – loans and leases; $17.6 $16.4 $17.1 $2.8 million rela
Slide 37: Asset quality
asset quality Classified Assets / Total Assets Nonperforming Assets / Total Assets 1.16% 1.15% 1.18% 0.48% 0.44% 1.11% 1.02% 0.41% 0.41% 0.32% $102.0 $100.8 $235.5 $232.4 $218.8 $77.1 $76.1 $213.4 $214.3 $59.8 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Classified Assets Classified Assets / To
Slide 38: Capital
capital Tier 1 Common Equity Ratio Tier 1 Capital Ratio 12.57% 12.91% 13.23% 12.29% 12.22% 12.61% 12.89% 12.50% 11.32% 11.60% 8.50% 7.00% 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Tier 1 Common Equity Ratio Basel III minimum Tier 1 Capital Ratio Basel III minimum Total Capital Ratio Tangible
Slide 39: Capital strategy
capital strategy Tangible Book Value Per Share Strategy & Deployment $18.52 • 3.6% annualized dividend yield as of $18.23 $17.45 $17.98 $17.67 March 31st $16.19 35% of 1Q26 earnings returned to $16.15 $15.40 $15.74 • $14.80 shareholders through common dividend • Most recent internal stress testing i
Slide 40: Outlook commentary
outlook commentary1 • Loan balances expected to increase mid single digits on an annualized basis Balance Sheet Balance Sheet • Core deposit balances expected to be relatively flat NetInterest Net Interest Margin Margin • Expected to be 3.99% - 4.04%; assumes no rate cuts • Stable credit costs expec
Slide 41: Presentation contents
presentation contents About First Financial Bancorp Acquisitions Financial Performance Appendix 41
Slide 42: Appendix: Our markets
appendix: our markets • Greater Cincinnati/Dayton • Indianapolis • Loans $4.8 billion • Loans $1.0 billion • Deposits $8.2 billion • Deposits $0.5 billion • Deposit Market Share #4 (3.4%) • Deposit Market Share #14 (1.2%) • Banking Centers 46 • Banking Centers 7 • Fortune 500 Companies 8 • Fortune 5
Slide 43: Appendix: Non-GAAP measures
appendix: non-GAAP measures 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, a
Slide 44: Appendix: Non-GAAP to GAAP reconciliation
appendix: non-GAAP to GAAP reconciliation Net interest income and net interest margin - fully tax equivalent Three months ended Mar. 31, Dec. 31, Sep. 30, June 30, Mar. 31, 2026 2025 2025 2025 2025 Net interest income $ 189,610 $ 173,995 $ 160,486 $ 158,269 $ 149,296 Tax equivalent adjustment 1,186
Slide 45: Appendix: Non-GAAP to GAAP reconciliation
appendix: non-GAAP to GAAP reconciliation Additional non-GAAP ratios Three months ended, Mar. 31, Dec. 31, Sep. 30, June 30, Mar. 31, (Dollars in thousands, except per share data) 2026 2025 2025 2025 2025 Net income (a) $ 74,445 $ 62,393 $ 71,923 $ 69,996 $ 51,293 Average total shareholders' equity
Slide 46: Appendix: Non-GAAP to GAAP reconciliation
appendix: non-GAAP to GAAP reconciliation Additional non-GAAP measures 1Q26 4Q25 3Q25 2Q25 (Dollars in thousands, except per share data) As Reported Adjusted As Reported Adjusted As Reported Adjusted As Reported Adjusted Net interest income (f) $ 189,610 $ 189,610 $ 173,995 $ 173,995 $ 160,486 $ 160
Slide 47: First Financial Bancorp contact
First Financial Bancorp First Financial Center 255 East Fifth Street Cincinnati, OH 45202 47
First Financial Bancorp. — Q1 2026 Earnings Presentation on 6ix