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.
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