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.
On May 25, 2022, First Financial Bank (Nasdaq: FFBC) announced significant changes to its overdraft programs, effective June 1, 2022, aiming to reduce or eliminate overdraft fees. This initiative is designed to support clients facing financial challenges. Changes will include the elimination of non-sufficient funds fees and notification fees, with further reductions in other fees. The bank's NoWorry Checking account, certified by the CFE Fund, offers no overdraft fees. As of March 31, 2022, First Financial Bancorp reported $16.0 billion in assets and operates 135 banking centers across several states.
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.
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.
On April 26, 2022, First Financial Bancorp (NASDAQ: FFBC) announced a quarterly cash dividend of $0.23 per common share, payable on June 15, 2022, to shareholders of record as of June 1, 2022. As of March 31, 2022, the company reported total assets of $16.0 billion, loans of $9.2 billion, and deposits of $12.8 billion. With $2.1 billion in shareholders' equity, it operates 135 banking centers across Ohio, Indiana, Kentucky, and Illinois, providing various banking and financial services.
First Financial Bancorp (FFBC) reported Q1 2022 net income of $41.3 million, or $0.44 per diluted share, down from $46.9 million in Q4 2021. The return on average assets was 1.03% and 1.09% adjusted. The net interest margin was 3.17%, showing a slight decrease from the previous quarter. Noninterest income totaled $41.3 million, while expenses rose to $102.8 million. Notably, net charge-offs fell by 69.3%, indicating strong credit quality. Management expects improvements in loan trends and positive contributions from the Summit acquisition.
First Financial Bancorp (Nasdaq: FFBC) will release its first quarter 2022 financial results on April 21, 2022, after market close. A teleconference will follow on April 22, 2022, at 8:30 a.m. Eastern time to discuss these results. As of December 31, 2021, the bank holding company reported $16.3 billion in assets, $9.3 billion in loans, and $12.9 billion in deposits. The teleconference can be accessed via dial-in or webcast, with replays available until April 29, 2022.
First Financial Bank (Nasdaq: FFBC) has rebranded its Wealth Management division to Yellow Cardinal Advisory Group, reflecting a commitment to personalized financial solutions. This division manages $3.3 billion in assets and includes a new focus on business succession planning and fixed income investments. Yellow Cardinal aims to provide comprehensive support for both personal and business financial needs. With over 90 years in investment advisory services, it serves clients nationwide while leveraging First Financial's extensive banking services.
First Financial Bancorp (FFBC) reported Q4 2021 earnings per diluted share of $0.50 ($0.58 adjusted). Net income was $46.9 million, a decline from $60.0 million in Q3 2021. The return on average assets stood at 1.16%, down from 1.49%. The company closed the acquisition of Summit Funding Group and achieved $143.6 million in commercial loan sales. A quarterly dividend of $0.23 per share was announced along with a share repurchase authorization of up to 5 million shares. Noninterest income grew to $45.7 million, while noninterest expenses were $109.6 million.
First Financial Bancorp (Nasdaq: FFBC) will announce its fourth quarter and full-year 2021 financial results after market close on January 27, 2022. A teleconference and webcast to discuss these results is scheduled for January 28, 2022, at 8:30 a.m. Eastern time. As of September 30, 2021, the company reported $16 billion in assets, $9.4 billion in loans, $12.7 billion in deposits, and $2.2 billion in shareholders' equity. First Financial Bancorp operates in Ohio, Indiana, Kentucky, and Illinois with a focus on commercial and retail banking services.
First Financial Bank (Nasdaq: FFBC) President and CEO Archie Brown has been appointed to the Board of Directors of the Cincinnati Branch of the Federal Reserve Bank of Cleveland for a three-year term starting January 1, 2022. Brown, who has led First Financial since April 2018, expressed his commitment to contributing to the Board's discussions on financial needs in the region. The Federal Reserve considered his extensive community service and banking experience in making this appointment, which enhances the Board's regional economic insights.
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