First Financial Bank Releases First Corporate Social Responsibility Report

Rhea-AI Summary

First Financial Bank (Nasdaq: FFBC) released its inaugural Corporate Social Responsibility Report, highlighting 2021 achievements in community development, corporate governance, diversity, equity, inclusion, and sustainability. Key metrics include a 54% increase in diverse vendor purchasing amounting to $5.6 million, $1.7 million donations, and a sustainable investment of $1.7 billion. The report also details employee engagement with 86.5% participation in the 401k plan and 99% completion of diversity training. As of March 31, 2022, the bank had $16.0 billion in assets.

Positive

• Earned an 'Outstanding' rating under the Community Reinvestment Act.
• 54% increase in diverse vendor purchasing for a total of $5.6 million.
• $1.7 million donated by First Financial Bank and $2.6 million by its foundation.

Negative

• None.

CINCINNATI, May 2, 2022 /PRNewswire/ -- First Financial Bank (Nasdaq: FFBC) has released its first Corporate Social Responsibility Report (CSR) and Sustainability Accounting Standards Board (SASB) Commercial Bank disclosure. The CSR report details the bank's progress in 2021 in the areas of community development; corporate governance; diversity, equity and inclusion; and sustainability.

"Since our founding in 1863, First Financial has been focused on addressing the needs of all our stakeholders, including clients, associates, communities, and the environment," said Archie Brown, president and CEO of First Financial. "With this report, we are proud to document the progress we have made on our corporate responsibility journey and our commitment to uphold the high standards of accountability that our stakeholders expect and deserve."

The appointment of Roddell McCullough as the bank's first chief corporate responsibility officer last year positions the bank to make strong future advancements in these areas.

"This report focuses on themes that impact our communities and are the foundation of everything we do at First Financial," McCullough said. "Our mission is to be a positive influence and to help our clients and communities thrive. We celebrate the strides we have made and look forward to building on this important progress."

The report examines multiple factors impacting community, employees, environment, and governance. Specific 2021 highlights include:

Community

• First Financial earned an "Outstanding" rating for its performance under the Community Reinvestment Act.
• The bank's purchasing from diverse vendors increased by 54 percent in 2021, for a total of $5.6 million sourced from diverse businesses.
• $1.7 million was donated by First Financial Bank, and $2.6 million donated by the First Financial Foundation, to organizations that enhance the lives of individuals and communities.
• First Financial's "Your Money, Own It" financial literacy program helped 16,305 participants with 798 hours of teaching.

Employees

• An analysis of pay equity in 2021 confirmed both gender and racial/ethnic parity.
• 86.5 percent of associates participate in the Bank's 401k plan.
• 99 percent of First Financial associates completed diversity, equity and inclusion training.

Environment

• First Financial invested $1.7 billion in sustainable industries to promote positive social impact, corporate social responsibility, and long-term financial return.
• First Financial and its associates recycled 441,360 pounds of paper and saved 6 million gallons of water.
• 64 percent of all deposit statements were delivered electronically.

Governance

• The report explains the bank's approach to governance best practices, risk management, and data security.

First Financial's 2021 Corporate Social Responsibility report is available online at https://www.bankatfirst.com/about/corporate-social-responsibility.html.

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.