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 (Nasdaq: FFBC) has successfully completed its acquisition of Cincinnati-based Summit Funding Group, the fourth largest independent equipment financing platform in the U.S. This acquisition enhances First Financial's service offerings by integrating Summit's extensive leasing capabilities, which include a portfolio worth approximately $1 billion and outstanding balances of around $500 million across over 4,000 leases. Summit will operate as a subsidiary, maintaining its brand and leadership under CEO Rick Ross.
First Financial Bancorp (Nasdaq: FFBC) has announced plans to acquire Cincinnati-based Summit Funding Group, the fourth largest independent equipment financing platform in the U.S. The transaction aims to enhance growth opportunities by leveraging both companies' strengths. Summit will maintain its branding and leadership post-acquisition. Expected to close in Q4 2021, this deal is projected to be mid-single-digit accretive to First Financial's earnings per share in the first year post-integration, with further growth anticipated thereafter. Financial advisors for the transaction include Lazard and Keefe, Bruyette & Woods.
First Financial Bank (Nasdaq: FFBC) has received national Bank On certification for its NoWorry Checking account, validating its compliance with the 2021-2022 Bank On National Account Standards. This account features no overdraft fees and no minimum balance requirements, enhancing banking accessibility in Ohio, Indiana, Kentucky, and Illinois. The certification underscores the bank's commitment to improving financial access, particularly for unbanked populations. With $16.0 billion in assets and community initiatives, First Financial aims to elevate financial education and services in low-income areas.
First Financial Bancorp (NASDAQ: FFBC) declared a quarterly cash dividend of $0.23 per common share on October 26, 2021. This dividend is payable on December 15, 2021 to shareholders on record by December 1, 2021. As of September 30, 2021, the company reported $16.0 billion in assets, $9.4 billion in loans, and $12.7 billion in deposits. The bank operates 139 full-service banking centers across Ohio, Indiana, Kentucky, and Illinois.
First Financial Bancorp (FFBC) reported robust Q3 2021 earnings with net income of $60.0 million ($0.63 per diluted share), a significant increase from $50.9 million in Q2 2021 and $41.5 million in Q3 2020. The return on average assets was 1.49%, while net interest margin stood at 3.32%. Loan growth was strong at $74.8 million, despite a decline in PPP loans. The company recaptured $10.1 million in provisions, driven by improved credit quality, and repurchased 2.5 million shares. The total capital ratio remained high at 14.97%. Performance continues to suggest positive trends in earnings and loan origination.
First Financial Bancorp (Nasdaq: FFBC) will announce its third quarter 2021 financial results after market close on October 21, 2021. A teleconference and webcast discussing the results are scheduled for October 22, 2021 at 8:30 a.m. Eastern time. Interested parties can join the call by dialing 1-833-950-0062 (US Toll Free) or through the webcast available at ir.bankatfirst.com. The archived webcast will be accessible for 12 months following the live event.
On July 27, 2021, First Financial Bancorp (NASDAQ: FFBC) announced a quarterly cash dividend of $0.23 per share, payable on September 15, 2021, to shareholders on record as of September 1, 2021. As of June 30, 2021, the company reported $16.0 billion in assets, $9.5 billion in loans, and $12.5 billion in deposits. The company operates 139 banking centers primarily in Ohio, Indiana, Kentucky, and Illinois, offering services in Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance, and Wealth Management.
First Financial Bancorp (FFBC) reported a net income of $50.9 million for Q2 2021, translating to earnings per diluted share of $0.52, compared to $47.3 million in Q1 2021. Adjusted earnings stood at $0.58 per diluted share. The institution showcased a return on average assets of 1.26% and a net interest margin of 3.31%. Notably, the bank repurchased over 1.3 million shares and experienced a provision recapture of $4.2 million, reflecting improved credit conditions. Average transactional deposits rose 17.8% year-over-year, although loan balances declined due to PPP forgiveness.
First Financial Bancorp (Nasdaq: FFBC) will release its second quarter 2021 financial results on Thursday, July 22, 2021, after the market closes. A teleconference and webcast to discuss these results is scheduled for Friday, July 23, 2021, at 8:30 a.m. Eastern time.
The company, based in Cincinnati, had $16.2 billion in assets and $9.9 billion in loans as of March 31, 2021. It operates 143 banking centers across key states including Ohio, Indiana, Kentucky, and Illinois.
Yext, Inc. announced a successful partnership with First Financial Bank to enhance its website search capabilities. By utilizing Yext's natural language processing technology, the bank improved client search experiences, yielding a 272% increase in site visits and a 225% rise in site search usage within five months. The upgraded site now offers direct answers instead of links, facilitating better customer interaction and insights, particularly vital during the pandemic.
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