Welcome to our dedicated page for First Financial Bancorp news (Ticker: FFBC), a resource for investors and traders seeking the latest updates and insights on First Financial Bancorp stock.
First Financial Bancorp (Nasdaq: FFBC) is a Cincinnati, Ohio-based bank holding company with a rich history dating back to 1863. Operating through its wholly-owned subsidiary, First Financial Bank, N.A., the company provides a wide range of banking and financial services through its six core business lines: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance, and Wealth Management.
As of March 31, 2024, First Financial Bancorp boasts $17.6 billion in assets, $11.2 billion in loans, $13.5 billion in deposits, and $2.3 billion in shareholders' equity. The company has built a strong reputation by combining the resources and expertise of a large financial institution with the personalized service of a community bank. This model has facilitated local decision-making, allowing the bank to provide tailored financial solutions to its clients.
The company’s commercial unit emphasizes commercial real estate loans, which form the mainstay of its loan portfolio, followed by commercial and industrial loans. Retail banking offers a complete suite of services to individual customers, while the mortgage banking division provides a variety of home financing options.
The wealth management division manages around $3.6 billion in assets as of March 31, 2024, offering services such as wealth planning, portfolio management, trust and estate administration, brokerage, and retirement planning. This division has seen consistent growth, bolstered by strong market performance and client trust.
Recent achievements include the acquisition of Agile Premium Finance, expanding their lending portfolio with high-quality, short-duration loans. The company continues to innovate by enhancing its investment portfolio and streamlining operations to improve efficiency and profitability. Management's proactive approach in navigating the challenging economic environment has ensured sustained growth and robust financial health.
Investors can stay updated with regular financial results, including quarterly earnings reports. The company reported net income of $50.7 million for Q1 2024, with a solid return on average assets of 1.18% and a return on average tangible common equity of 17.35%.
First Financial's robust net interest margin, consistent loan growth, and stable asset quality underscore its resilience and ability to deliver strong results. The bank operates 130 full-service banking centers across Ohio, Indiana, Kentucky, and Illinois and lends into targeted industry verticals on a nationwide basis through its Commercial Finance business.
For more information about First Financial Bancorp, including its products, services, and banking locations, visit www.bankatfirst.com.
First Financial Bancorp reported Q3 2024 net income of $52.5 million, or $0.55 per diluted share, compared to $60.8 million ($0.64/share) in Q2 2024. Key highlights include a net interest margin of 4.08% on a tax-equivalent basis, noninterest income of $45.7 million ($58.8 million adjusted), and average deposit growth of $166.2 million (4.9% annualized). The company maintained strong capital ratios with total capital ratio at 14.58% and declared a quarterly dividend of $0.24 per share. Asset quality remained stable with an ACL ratio of 1.37% to total loans and net charge-offs at 0.25%.
First Financial Bancorp (Nasdaq: FFBC) has announced the release date for its third quarter 2024 financial results. The company will disclose the results after the market closes on Thursday, October 24, 2024. Following this, a teleconference and webcast to discuss the results will be held on Friday, October 25, 2024, at 8:30 a.m. Eastern time.
Interested parties can access the teleconference by dialing 1-888-550-5723 (Toll Free) with the access code 5048068. The teleconference replay will be available until November 8th, 2024. Additionally, a webcast will be accessible at http://ir.bankatfirst.com/CorporateProfile and will be archived on the company's website for 12 months after the live call ends.
First Financial Bancorp (Nasdaq: FFBC) reported strong Q2 2024 results with earnings per diluted share of $0.64, or $0.65 adjusted. Highlights include:
- Return on average assets of 1.38% (1.40% adjusted)
- Net interest margin of 4.10% on a fully tax-equivalent basis
- Record fee income of $61.5 million
- Loan growth of $316.1 million (11.3% annualized)
- Average deposit growth of $351.1 million (10.6% annualized)
- Net charge-offs decreased to 0.15% of total loans
The Board approved a quarterly dividend increase to $0.24 per share. The company's performance was driven by strong loan and deposit growth, stable net interest margin, and record noninterest income, particularly in foreign exchange, leasing, and wealth management.
First Financial Bancorp (Nasdaq: FFBC) announced it will release its second-quarter 2024 financial results after the market close on Thursday, July 25, 2024.
A teleconference and webcast to discuss these results will be held on Friday, July 26, 2024, at 8:30 a.m. Eastern time. Interested parties can dial into the teleconference or access the webcast through the company's investor relations website. A replay of the teleconference will be available until August 9, 2024, and the webcast will be archived for 12 months.
First Financial Bancorp (Nasdaq: FFBC) announced the election of Anne Arvia to its Board of Directors, effective May 28, 2024. Arvia, who has extensive experience in banking and strategic transformation, will replace retiring directors Susan Knust and William Barron. Arvia is currently a principal at Cornerstone Advisors and has held senior roles at The Auto Club Group, USAA Bank, Nationwide Insurance, and ShoreBank. The company credits Knust and Barron for their significant contributions over their long tenures. Chairman Claude Davis and CEO Archie Brown praised Arvia's qualifications and expressed confidence in her ability to contribute valuable insights to the board.
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