First Financial Bancorp Announces Changes to Board of Directors

Rhea-AI Summary

First Financial Bancorp (Nasdaq: FFBC) has elected Gary Warzala to its board of directors for a one-year term as of May 24, 2022. Warzala brings extensive experience in security and risk management, previously serving as CISO at multiple major banks. His appointment is expected to enhance the board's capabilities in cybersecurity as the company continues to grow. Concurrently, John T. Neighbours retired from the board after contributing since August 2015. As of March 31, 2022, First Financial reported $16.0 billion in assets and $2.1 billion in shareholders' equity.

Positive

• Appointment of Gary Warzala expected to strengthen the board's cybersecurity expertise.
• Warzala's extensive experience in financial services may provide valuable strategic insights.

Negative

• Retirement of John T. Neighbours raises concerns regarding continuity and experience on the board.

CINCINNATI, May 24, 2022 /PRNewswire/ -- First Financial Bancorp (Nasdaq: FFBC) held its annual meeting of shareholders today, during which Gary Warzala was elected to a one-year term as a new member of the First Financial board of directors, effective immediately.

Warzala is currently a security and risk management executive advisor with Gartner, Inc. Before joining Gartner in 2019, he served as chief information security officer to Fifth Third Bank, PNC Bank, and Visa International. Warzala is a board member of the Economic Crime & Cybersecurity Institute of Utica College, and the INTERalliance of Cincinnati. He also serves as an industry advisory board member for the University of Cincinnati.

"We are excited to welcome Gary to the board and look forward to his leadership, especially in the area of cybersecurity," said Claude Davis, First Financial Bancorp board chair. "Gary's deep knowledge of information security and risk management, along with his experience in strategic planning within the financial services industry, will help the board manage complex challenges as our business continues to grow and evolve."

John T. Neighbours, a member of First Financial Bancorp's board of directors since August 2015, previously announced his retirement from the board, effective as of today's meeting.

"John's contributions and insights have been instrumental in the growth our organization has experienced over the past decade," Davis added. "On behalf of the board of directors, I want to thank John for his service and commitment to First Financial."

About First Financial Bancorp.
First Financial Bancorp. is a Cincinnati, Ohio based bank holding company. As of March 31, 2022, the Company had $16.0 billion in assets, $9.2 billion in loans, $12.8 billion in deposits and $2.1 billion in shareholders' equity. The Company's subsidiary, First Financial Bank, founded in 1863, provides banking and financial services products through its six lines of business: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance and Wealth Management. These business units provide traditional banking services to business and retail clients. Wealth Management provides wealth planning, portfolio management, trust and estate, brokerage and retirement plan services and had approximately $3.3 billion in assets under management as of March 31, 2022. The Company operated 135 full-service banking centers as of March 31, 2022, primarily in Ohio, Indiana, Kentucky and Illinois, while the Commercial Finance business lends into targeted industry verticals on a nationwide basis. Additional information about the Company, including its products, services and banking locations, is available at www.bankatfirst.com.

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SOURCE First Financial Bancorp.

FAQ

What recent changes occurred in First Financial Bancorp's board of directors?

Gary Warzala was elected to the board, and John T. Neighbours retired effective May 24, 2022.

Who is Gary Warzala and what experience does he bring to First Financial Bancorp?

Gary Warzala is a security and risk management executive with experience as CISO at major banks, enhancing the board's cybersecurity capabilities.

What is the significance of the board changes for First Financial Bancorp?

The changes may impact the company's strategic direction, particularly concerning cybersecurity and risk management.

What are the financial metrics reported by First Financial Bancorp?

As of March 31, 2022, the company reported $16.0 billion in assets, $9.2 billion in loans, and $2.1 billion in shareholders' equity.