First Financial Bancorp. · NASDAQ:FFBC
First Financial Bancorp — Non-Deal Roadshow (March 2016)
26 slides from First Financial Bancorp's roadshow presentation, Mar 29, 2016
Slide 1: Another step on the path to success
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Slide 2: Forward-looking statements
2 Certain statements contained in this release which are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Examples of forward-looking statements include, but are not limited to, projections of revenues, income
Slide 3: Presentation Contents
3 About First Financial Bancorp Strategic Direction Recent Financial Results Presentation Contents
Slide 4: Company Overview
4 Company Overview NASDAQ: FFBC Overview Founded: 1863 Headquarters: Cincinnati, Ohio Banking Centers: 106 Assets: $8.1 billion Loans: $5.4 billion Deposits: $6.2 billion Wealth Mgmt: $2.3 billion AUM Lines of Business Commercial / Private Banking C&I, I-CRE, Treasury, Wealth Retail Banking Consumer
Slide 5: Through the Cycle
Proven Acquirer Two FDIC-assisted acquisitions totaling $2.5 billion in assets (2009) Two branch acquisitions of 38 offices in Indiana and Ohio (2011) Three banks in Columbus, Ohio totaling $727 million in assets (2014) Oak Street Finance, specialty lender focused on the insurance industry, $243 mil
Slide 6: Investments in our Business
Product expansions Specialty lending (~ $1 billion, excluding Oak Street) Mobile banking & other technology enhancements for clients Re-entry into mortgage business (2010) 2015 originations of $320 million Wealth infrastructure improvements Investment model Real estate management, tax & insurance ou
Slide 7: Invest with First Financial
Proven & sustainable business model Well managed through the cycle Conservative operating philosophy Consistent profitability Robust capital management Prudent steward of shareholders’ capital Strong asset quality Well defined M&A strategy Selective markets, products & asset diversification 7 Invest
Slide 8: Total Shareholder Return
8 1 – includes dividend reinvestment Company Ticker 2008-2015 2014 2015 First Financial FFBC 129.45% 10.55% 0.68% KBW Regional Bank Index KRX 30.70% 2.43% 5.99% NASDAQ Composite CCMP 107.45% 14.83% 7.11% Fifth Third FITB -3.95% -0.75% 1.27% US Bancorp USB 62.43% 13.77% -2.81% PNC PNC 75.07% 20.32% 6
Slide 9: Strategic Direction
9 About First Financial Bancorp Strategic Direction Recent Financial Results
Slide 10: Strategic Overview
10 Operational Excellence • Focus on cost, efficiency & volume Client Intimacy • Strong client focus • Relationship driven Product Leadership • Develop new products, new markets & new techniques What does First Financial stand for? Strategic Overview
Slide 11: Our Strategy: Premier Business Bank
Our strategy is to be the Premier Business Bank in the markets we serve “Bank the business, bank the owner & bank the employees.” Rationale: Our value proposition – relationship banking & sophisticated solutions – resonates with and is desired by small / mid-size businesses Alignment with our compet
Slide 12: Connecting Strategy to Execution
12 Connecting Strategy to Execution
Slide 13: Strategic Priorities
13 Strategic Priorities Deliver top quartile shareholder returns Continue to invest in innovative solutions that enable our clients to bank with us on their terms Promote leadership & development within our communities Achieve best-in-class compliance & risk management programs Remain vigilant in ou
Slide 14: Recent Financial Results
14 About First Financial Bancorp Strategic Direction Recent Financial Results
Slide 15: 4Q 2015 Highlights
15 4Q 2015 Highlights – 101st Consecutive Quarter of Profitability Total assets increased $267 million, to $8.1 billion, compared to the third quarter. Loans increased $173 million, or 13% annualized, over the linked quarter. Deposits increased $98 million, or 6% annualized, compared to the linked q
Slide 16: Profitability
16 Profitability Net Income Return on Average Assets Earnings per Share Return on Tangible Common Equity $19.8 $18.7 $18.9 $17.6 $18.6 $20.5 $20.9 $19.2 $17.8 $19.6 $0.32 $0.30 $0.31 $0.29 $0.30 $0.33 $0.34 $0.31 $0.29 $0.32 4Q153Q152Q151Q154Q14 Net Income (GAAP) Net Income (Operating) EPS (GAAP) EP
Slide 17: Net Interest Income / Net Interest Margin
17 Net Interest Income / Net Interest Margin Average Loan & Deposit Balances for the Quarter Gross loans include loans held for sale and FDIC indemnification asset Net Interest Income Net Interest Margin Average Loans Average Deposits $66.1 $63.2 $58.7 $58.6 $61.1 3.69% 3.67% 3.62% 3.67% 3.72% 4Q153
Slide 18: Non-Interest Income / Non-Interest Expense
18 Non-Interest Income / Non-Interest Expense Non-Interest Income 1 Non-Interest Expense Efficiency Ratio Non-Personnel Expense 1 Excludes Gain on Sale of Investment Securities and Non-Interest Income Related to the Covered / Formerly Covered Loan Portfolio $4.8 $4.9 $4.8 $4.5 $5.1 $3.1 $3.1 $3.3 $3
Slide 19: Loans
19 Loans Loan Product Mix 1 Loan Portfolio By Geography 2 Average Loan Size & Rate 3 Nationwide Lending Platforms 1 Commercial & Business includes Owner Occupied Commercial Real Estate 2 Includes loans held for sale. Excludes purchase accounting loan marks. 3 Average loan balances in $000s.
Slide 20: Loans: C&I by Industry, CRE by Collateral
20 Loans C&I Loans By Industry 1 CRE Loans By Collateral 2 1 Industry types included in Other representing greater than 1% of total C&I loans include Retail Trade, Agriculture, Public Administration, Waste Management, Utilities and Education. 2 Collateral types included in Other representing greater
Slide 21: Investment Portfolio
21 Investment Portfolio Total investments of $1.97 billion Investment Portfolio / Total Assets = 24.2% Effective yield earned during fourth quarter = 2.44% Portfolio duration = 3.4 years Portfolio Composition Portfolio Quality
Slide 22: Asset Quality
22 Asset Quality Non-Performing Loans / Total Loans Non-Performing Assets / Total Assets Net Charge Offs / Average Loans Classified Assets / Total Assets $56.9 $55.9 $59.8 $64.6 $64.4 1.06% 1.07% 1.23% 1.36% 1.35% 4Q153Q152Q151Q154Q14 NPLs NPLs / Total Loans $70.1 $71.1 $76.2 $85.5 $87.1 0.86% 0.90%
Slide 23: Asset Quality
23 Asset Quality Allowance / Non-Accrual Loans Allowance / Total Loans Net Charge Offs & Provision Expense $53.4 $53.3 $52.9 $53.1 $52.9 0.99% 1.02% 1.09% 1.11% 1.11% 1.11% 1.17% 1.27% 1.43% 1.51% 4Q153Q152Q151Q154Q14 Allowance for Loan Losses ALLL / Total Loans (ALLL + Loan Marks - Indem Asset) / T
Slide 24: Capital
24 Capital Tier 1 Common Equity Tangible Book Value Total Capital Tangible Common Equity
Slide 25: Reconciliation of Non-GAAP Measures
25 Reconciliation of Non-GAAP Measures Non-Operating Expenses include acquisition-related expenses, expenses associated with efficiency initiatives and other expenses not expected to recur. $ in 000s 4Q - 2014 1Q - 2015 2Q - 2015 3Q - 2015 4Q - 2015 Net Interest Income $ 61,139 $ 58,586 $ 58,674 $ 6
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