First Financial Bancorp. · NASDAQ:FFBC
First Financial Bancorp — Debt Investor Presentation (November 2025)
44 slides from First Financial Bancorp's debt investor presentation, Nov 3, 2025
Slide 1: Fixed Income Investor Presentation Third Quarter 2025
Fixed Income Investor Presentation Third Quarter 2025
Slide 2: Disclaimer
disclaimer 2 This Presentation contains summarized consolidated information concerning First Financial Bancorp. (the “Company”) and the Company’s business, operations, financial performance and trends. No representation is made that the information in this presentation is complete. For additional fi
Slide 3: Forward Looking Statements
forward looking statements disclosure 3 Forward Looking Statements Certain statements contained in this Presentation 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,
Slide 4: Forward Looking Statements (continued)
forward looking statements disclosure 4 • 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 5: Presentation Contents
About First Financial Bancorp Financial Overview Overview of Recent Acquisitions Appendix presentation contents 5
Slide 6: Our Franchise
our franchise Commercial C&I, O-CRE, Treasury, ABL, ESOP, Equipment Finance, Bannockburn Global Forex Retail Banking Consumer, Small Business Mortgage Banking NASDAQ: FFBC Headquarters: Cincinnati, Ohio Founded: 1863 Banking Centers: 1271 Employees: 1,9861 Market Cap (9/30/25): $2.4B Dividend Yield
Slide 7: Key Investment Highlights
key investment highlights ✓ Proven & sustainable business model for more than 160 years o Conservative operating philosophy with 140 consecutive quarters of profitability o Well managed through past credit cycles ✓ Premier Midwest franchise with top quartile profitability o Top quartile ROA, ROATCE,
Slide 8: A Long History of Growth
a long history of growth 8 $18.6B $6.4B $7.2B $8.1B $8.4B $8.9B $14.0B $14.5B $16.0B $16.3B $17.0B $17.5B $18.6B $22.1B 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q3'25 Total Assets ($B) 2014 First Financial acquires Insight Bank, First Bexley Bank and The Guernsey Bank (Combined as
Slide 9: A Top Quartile Performer
KRX Constituents FFBC Bottom Top Q3 Quartile Median Quartile Actual ROAA 1.03% 1.25% 1.44% 1.54% ROATCE 13.3% 14.9% 16.9% 19.1% Net Interest Margin 3.25% 3.47% 3.80% 4.02% Noninterest Income / Net Revenue 13.6% 18.1% 22.1% 31.4% Loans + HTM / Deposits 97% 92% 86% 82% Cash + AFS Securities / Assets 1
Slide 10: Consistent Best-in-Class Earnings
consistent best-in-class earnings 10 1 KRX calculated as the top quartile or median of the current 50 KRX constituents. Source: S&P Capital IQ Pro. All data calculated as of or for the period ending 6/30/25 for comparability purposes. Return on Tangible Common EquityReturn on Average Assets Earnings
Slide 11: Key Company Brands
key company brands Full suite of diversified financial products for individuals and businesses $18.6 Billion Assets $14.4 Billion Deposits Diversified financial holding company with comprehensive and innovative solutions for individuals and businesses Wealth & asset management services for individua
Slide 12: Complementary Market Centric Strategies
Note: Financial data as of 9/30/25. Greater Cincinnati/Dayton loan and deposit balances include large public fund relationships, special assets, loan marks, and other out of market and corporately held balances. complementary market centric strategies Loans $3.4B / Deposits $2.3B Loans $1.9B / Depos
Slide 13: Diversified Lines of Business
The number of Trust & Investments and RPS relationships are updated as of 9/30/22. All other data as of 12/31/22. diversified lines of business 13 Note: Data as of 9/30/25 and excludes the impact of Westfield Bancorp and BankFinancial acquisitions.
Slide 14: Presentation Contents
About First Financial Bancorp Financial Overview Overview of Recent Acquisitions Appendix presentation contents 14
Slide 15: 3Q 2025 Results
3Q 2025 results 140th Consecutive Quarter of Profitability 15 • EOP assets decreased $79.7 million compared to the linked quarter to $18.6 billion • EOP loans decreased $71.6 million compared to the linked quarter to $11.7 billion • Average deposits increased $157.2 million compared to the linked qu
Slide 16: Consistent & High Levels of Profitability
consistent & high levels of profitability 16 Return on Average Assets Return on Avg Tangible Common Equity Diluted EPS 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation. $0.75$0.73
Slide 17: Diversified & Growing Fee Revenues
diversified & growing fee revenues 17 Noninterest Income 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. 3Q25 Highlights • Adjusted noninterest income1 31% of net revenue • Fore
Slide 18: Net Interest Income & Margin
net interest income & margin 18 3Q25 NIM (FTE) Progression Net Interest Income All dollars shown in millions 3.89%3.95% 3.80%3.82% 3.98% 0.13%0.10% 0.08%0.12% 0.10% 4.02%4.05% 3.88% 3.94% 4.08% 3Q252Q251Q254Q243Q24 Basic Margin (FTE) Loan Fees Net Interest Margin (FTE) 2Q25 4.05% Asset yields/mix -0
Slide 19: Attractive Deposit Portfolio
19 All dollars shown in millions attractive deposit portfolio Deposit Product Mix (Avg) 3Q25 Average Deposit Progression Total growth/(decline): $157.2 million Noninterest- bearing $3,002 21% Interest-bearing demand $1,786 12% Savings $994 7% Money Market $3,337 23% Retail CDs $1,968 13% Brokered De
Slide 20: High Quality Loan Portfolio
high quality loan portfolio 20 All dollars shown in millions Loan LOB Mix (EOP) Net Loan Change-LOB (Linked Quarter) Total growth/(decline): ($71.6) million ICRE $3,583 31% Commercial & Small Business Banking $3,490 30% Oak Street $733 6% Summit $959 8% Agile $254 2% Consumer $1,090 9% Mortgage $1,6
Slide 21: Diversified & Granular Commercial Portfolio
diversified & granular commercial portfolio 21 C&I and Owner Occupied CRE Loans by Sector1 Investor CRE Loans by Property Type 1 Excludes Agile Premium Finance NAICS Sector 9/30/25 % of Total Loans Finance and Insurance $1,134.4 9.7% Manufacturing 539.6 4.6% Construction 379.1 3.2% Real Estate and R
Slide 22: Strong Credit Quality & Disciplined Credit Risk Management
strong credit quality & highly disciplined credit risk management 22 Classified Assets / Total Assets 1 Provision includes both loans & leases and unfunded commitments All dollars shown in millions Nonperforming Assets / Total Assets Net Charge Offs & Provision Expense1 $218.8$214.3$213.4 $224.1 $20
Slide 23: Strongly Reserved
23 strongly reserved 3Q25 Highlights All dollars shown in millions • $179.5 million combined ACL; $9.1 million combined provision expense • $161.9 million ACL – loans and leases; 1.38% of loan balances • Utilized Moody’s September baseline forecast in quantitative model • $17.6 million ACL – unfunde
Slide 24: Ample Sources of Liquidity
24 ample sources of liquidity • Interest-bearing deposits with other banks of $565 million • Investment securities portfolio: • 98.0% of investment portfolio classified as available- for-sale • $727.6 million of expected cash flow from securities portfolio in next 12 months • $343.1 million of float
Slide 25: Solid Capital Base
solid capital base 25 9/30 Risk Weighted Assets = $14,166,935 All capital numbers are considered preliminary. 1 Pro forma includes estimated impact of Westfield Bancorp and BankFinancial acquisitions consistent with merger assumptions as detailed on pages 38 and 39. 2 CRE balances per bank regulator
Slide 26: Presentation Contents
About First Financial Bancorp Financial Overview Overview of Recent Acquisitions Appendix presentation contents 26
Slide 27: Overview of Westfield Bancorp
27 overview of Westfield Bancorp Westfield Bank Lines of Business • Commercial Banking / Treasury Management • Agency Banking and Premium Finance • Registered Investment Advisor Banking • Consumer - Retail • Consumer - Mortgage • Private Banking 3.23% YTD NIM $2.1B in assets Consolidated Financial H
Slide 28: Transaction Highlights
28 transaction highlights Strategically Compelling • Accelerates entry into Northeast Ohio. • Provides attractive deposit base, branch network and commercial client base in a market with limited acquisition targets. • Adds talented staff in Retail, Commercial, Mortgage and Private Banking. • Adds ta
Slide 29: Overview of BankFinancial
29 overview of BankFinancial Key franchise highlights Financial summary Balance Sheet & Capital (As of 3Q’25 Unless Otherwise Stated, %) Cash & Securities / Assets 43 Loan / Deposit Ratio 62 Non-Time Deposit Composition 79 TCE / TA 10.8 CET1 Ratio 21.1 NCOs / Avg. Loans (MRQ, annualized) 0.05 Profit
Slide 30: Transaction Highlights
30 transaction highlights ✓ Expected enhanced pro forma earnings per share ✓ Expected robust pro forma profitability ✓ Acquisition of a low cost, granular core deposit franchise with $1.5Bn of assets and +100 year presence in Chicago market ✓ Complementary to existing Northwest Indiana presence, Chi
Slide 31: Pro Forma Loan & Deposit Composition
31 pro forma loan & deposit composition Pro Forma Lo an s D ep os its CLD 6% Resi. 21% OO CRE 9% NOO CRE 17% Multifam. 8% C&I 27% Consumer 1% Other 11% CLD 4% Resi. 28% OO CRE 12% NOO CRE 9% Multifam. 3% C&I 35% Consumer 6% Other 3% CLD 0% Resi. 2% OO CRE 2% NOO CRE 11% Multifam. 63% C&I 22% Consume
Slide 32: Presentation Contents
About First Financial Bancorp Financial Overview Overview of Recent Acquisitions Appendix presentation contents 32
Slide 33: Our Management Team
our management team Archie Brown President & Chief Executive Officer 17 42 Yrs at FFBC Yrs in Banking Jamie Anderson Chief Financial & Operating Officer 25 25 Yrs at FFBC Yrs in Banking Karen Woods EVP, GC & Chief Administrative Officer 9 30 Yrs at FFBC Yrs in Banking / Law Bill Harrod Chief Credit
Slide 34: Consolidated Financial Highlights
consolidated financial highlights 34 Year Ended December 31, Quarter Ended, ($000 except per share data) 2020 2021 2022 2023 2024 3/31/25 6/30/25 9/30/252021 Summary Balance Sheet: Total Assets $15,973,134 $16,329,141 $17,003,316 $17,532,900 $18,570,261 $18,455,067 $18,634,255 $18,554,506 Loans Held
Slide 35: Markets of Operation
markets of operation 35 Source: S&P Capital IQ Pro. Market share data as of 6/30/25 and is pro forma for pending or recently completed transactions. FFBC's Top 15 MSAs FFBC Rank FFBC Branches FFBC Deposits in Mkt. ($M) % of Franchise FFBC Mkt. Share (%) Proj. Pop. Growth '26 - '31 Current Median HHI
Slide 36: Kroll Ratings Reflect an Overall Strong Credit Profile
Kroll ratings as of October 3, 2025 FFBC’s Kroll ratings reflect an overall strong credit profile 36 Source: Kroll Bond Rating Agency. 1 Kroll Ratings Scale: https://www.krollbondratings.com/understanding-ratings/methodologies/rating-scales Entity Type Rating1 Outlook First Financial Bancorp. Senior
Slide 37: Historical Interest Coverage
historical interest coverage 37 Standalone FFBC Pro Forma (dollars in millions) For the Twelve Months Ended Nine Months Ended Nine Months Ended1 12/31/21 12/31/22 12/31/23 12/31/24 9/30/25 9/30/25 Double Leverage Investment in Bank Subsidiary $2,447 $2,161 $2,334 $2,414 $2,528 $2,883 Consolidated Eq
Slide 38: Key Transaction Assumptions: Westfield Bancorp
key transaction assumptions Westfield Bancorp 38 Earnings, Synergies and Cost Savings • Net income for FFBC based on consensus analyst estimates • Net income for Westfield Bancorp based on FFBC management estimates • Cost savings of ~40% of Westfield Bancorp’s noninterest expense base (75% realized
Slide 39: Key Transaction Assumptions: BankFinancial
key transaction assumptions BankFinancial 39 Key Merger Assumptions Fair Value Adjustments Other • Cost Savings – Approximately 45% of BankFinancial’s annual operating expense ‒ 75% phase-in during 2026 and 100% in 2027 and thereafter • One-Time Merger Expenses – $25 million pre-tax; fully reflected
Slide 40: Non-GAAP Financial Information
The Company’s Investor Presentation contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States (GAAP). Such non-GAAP financial information should be considered supplemental to, and not as a substitute for,
Slide 41: Appendix: Non-GAAP to GAAP Reconciliation
appendix: non-GAAP to GAAP reconciliation 41 All dollars shown in thousands Net interest income and net interest margin - fully tax equivalent Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, 2025 2025 2025 2024 2024 Net interest income 160,486$ 158,269$ 149,296$ 154,399$ 155,560$ Tax equivalent adjustm
Slide 42: Appendix: Non-GAAP to GAAP Reconciliation
appendix: non-GAAP to GAAP reconciliation 42 All dollars shown in thousands Additional non-GAAP ratios Sep. 30, June 30, Mar. 31, Dec. 31, Sep. 30, (Dollars in thousands, except per share data) 2025 2025 2025 2024 2024 Net income (a) 71,923$ 69,996$ 51,293$ 64,885$ 52,451$ Average total shareholders
Slide 43: Appendix: Non-GAAP to GAAP Reconciliation
appendix: non-GAAP to GAAP reconciliation 43 All dollars shown in thousands Additional non-GAAP measures 1Q25 4Q24 As Reported Adjusted As Reported Adjusted As Reported Adjusted As Reported Adjusted Net interest income (f) 160,486$ 160,486$ 158,269$ 158,269$ 149,296$ 149,296$ 154,399$ 154,399$ Provi
Slide 44: First Financial Bancorp
44 First Financial Bancorp First Financial Center 255 East Fifth Street Cincinnati, OH 45202
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