First Financial Bancorp. · NASDAQ:FFBC
First Financial Bancorp — Q1 2010 Earnings Presentation
21 slides from First Financial Bancorp's earnings presentation, Apr 30, 2010
Slide 1: First Quarter 2010 Earnings Release Supplemental Information
fi RST EXHIBIT 99.2 first financial bancorp First Financial Bancorp First Quarter 2010 Earnings Release Supplemental Information Covered Assets and Acquisition-Related Items
Slide 2: Forward-Looking Statement Disclosure
fiRST first financial bancorp Forward-Looking Statement Disclosure This presentation should be read in conjunction with the consolidated financial statements, notes and tables in First Financial Bancorp's most recent Annual Report on Form 10-K far the year ended December 31, 2009, as well as financi
Slide 3: Revenue by Source
fiRST Revenue by Source first financial bancorp Total Revenue: $91.4 million For the Three Months Ended March 31, 2010 (Dollars in millions) = Strategic — Elements of the business that either existed prior to the acquisitions or were acquired with the intent to retain and grow. Approximately 81% of
Slide 4: Deposit and Loan Composition
fiRST first financial bancorp Deposit and Loan Composition Total Deposits = $5.2 billion Gross Loans = $4.6 billion As of March 31, 2010 As of March 31, 2010 {Dollars in millions) {Dollars in millions) mStrategic GAcquired-Non-Strategic = Westem market (acquired-non-strategic) branch exits largely c
Slide 5: Valuation adjustments on covered loans
fiRST first financial bancorp 15% Credittbased valuation adjustment - FFBC Credittbased valuation adjustment ‘covered by FDIC indemnification Rate-based valuation adjustment Approximate values at acquisition date (millions): Credit-based adjustment covered by FDIC - $340" Credit-based adjustment pro
Slide 6: Scenario I and II - Credit performance versus expectations
Scenario |- Better than expected credit performance versal of Valuation Adjustments come Statement pact credi-based ofeet Unpaid Principal foe Addiional FDIC by FOIE Nontnterest Non nterest alance (UPR) Disposition Value __Rate-besed _—_Credi-based__Indemaficaton Indemnification _Indemfications tnco
Slide 7: Valuation Recognition
fiRST first financial bancorp Valuation Recognition Noninterest Income Impact of Components of Valuation Adjustments Accelerated Discount Recognition Estimated as of March 31, 2010 (Dollars in millions) For the Three Months Ended March 31, 2010 (Dollars in millions) $28 $82 Es $54 61 4a03 rato Credi
Slide 8: Noninterest Expenses
fiRST first financial bancorp Noninterest Expenses Components of Noninterest Expense FDIC Support Expenses For the Three Months Ended March 31, 2010 Estimated 10 Year Trend (allars in millions) $0.6 % $22 4% zoo 2011 2012 2013 2014 215 we wT 2018 m3 mStrategic mAcquired-non-strategic FDIC support Ot
Slide 9: Tables from First Quarter 2010 Earnings Release
fiRST first financial bancorp Tables from First Quarter 2010 Earnings Release
Slide 10: Noninterest Income
Noninterest Income Table! (ola ntmousanse) Forte Three Months Endec ‘Becenber 37, “Total noninterest neome ‘Accelerated discount on loan prepayments and clspositons * Rate-based vatistion mark- loan sales ate-based valuation mark- prepayments CCract-based valuation mark loan sales? Crecz-based valua
Slide 11: Noninterest Expense
Noninterest Expense Tablell For the Three Months Ended March31, December 31, olirsin rouse) 2010 2008 Total neninterest exrense 3 e2ts¢ $I 07 Pronorionate share of losses in excess of cretit-based valuation mark 7 1892 763 Acquired-non-strategc operating expenses * 2201 4,303 ‘Acquistion-rated costs
Slide 12: Credit Quality
Credit Quality Table I (altars inttousars) 8 of or forthe Three Months Ended March 31, 2008 Total norpertorring loans Total norpertonring assets Nonperfarming assets as a % of Period-end loans plus OREO Total assets Nonperfarming loans as a % of total ens Provision for loon & lease lasses Allowance
Slide 13: Loan Portfolio - Excluding Covered Loans
Loan Portfolio - Excluding Covered Loans Table As of March 31,2010 December 31, 2005 March 31, 2008 Percent Percert Percent olbrsintousares) Balance of Tital_—Balance of Told __—Balenoe of Total Commercial 3 763084 «271% «$= 798622 2TH% «GF «BAT BHA Feal esate - construction 216288 77% 25323 88% 251
Slide 14: Investment Portfolio
Investment Portfolio Table v 9 of Merch 31,2010 Bock Percent? Boake Book Wankel Gani Polirsintousres) Value Taal Yield Price Value (Loss) UsTndes & agencies $24,423 48% 374 9978 10248 $a 0s (axency) 52557 3.8% 481 1004 = 10468 2418 OMOs (private) 8 0.0% os4 = 10000 = t0007 a MBs (agency) 34087 63.8%
Slide 15: Deposit Activity
Deposit Activity Table Wl Deposit Adtivity - First Quarter 2010, Balance as of ‘Acquired. Balance as of December 31, Stratego Non Strategie March, (Gates inthousars) 2003 Portfoto Pertfalio 2010 Transadtion andsavings accounts § 3,121,140 $ 83414.» -$ (BBS) $3,088,003, Time derosts 4,884,215 (i727 (
Slide 16: Borrowed Funds Activity
Borrowed Funds Activity Total borrowings Table Wi Borrowed Funds Activly - First Quarter 2010 Balance as of Balance as of December 31, March3t., (alas inthousars) 2008 Aton Maturities 2010 Short-term borrowings: Federal funds purchased ard securtties sollunder agreements torepurchase § © 37430 $1013
Slide 17: Capital Ratios
Capital Ratios Table vil Ast March3i, December 31, March, "Wel-Catalizen” 2010 2008 2008 Mim Leverage Rati 10.10% 9.57% 5% 5.00% Ter 1 Capital Ratio 17.90% 16.74% 12.16% 6.00% Total Risk-Based Capital Ratio 19.19% 17.99% 13.39% 10.00% Encingtangjble shareholders’ equty to ending tangible assets 9.73
Slide 18: Significant Acquisition Related Items
Significant Acquisition Related Items ‘Another step on the path to success, 18
Slide 19: Covered Loan Portfolio
Covered Loan Portfolio Table x Covered Loan Activiy - First Quarter 2010 Reduction in Balance Due ta Charge-Offs December 31, in Excess of Colirsintrousars) 03 LoanSales Prepayments’ Contractual? Valuation Mark Commercial 3 sur $7288 $5834 S| 1285D FB ART Feal esate - construction Real esate - comme
Slide 20: About First Financial Bancorp
fiRST first financial bancorp About First Financial Bancorp First Financial Bancorp is a Cincinnati, Ohio based bank holding company with $6.6 billion in assets. The Company's subsidiary, First Financial Bank, N.A., founded in 1863, provides banking and financial services products through its three
Slide 21: fiRST
fiRST first financial bancorp Another step on the path to success
First Financial Bancorp — Q1 2010 Earnings Presentation on 6ix