First Financial Bancorp Reports Solid Financial Performance in Fourth Quarter 2024

First Financial Bancorp, a financial holding company with a rich heritage spanning 160 years, presented its investor presentation for the fourth quarter of 2024. The company highlighted several key points regarding its financial performance, strategic focus, and market positions.

The presentation detailed that despite economic uncertainties, the company continued to show consistent profitability with 137 consecutive quarters of profit. At the end of the fourth quarter, the company reported an increase in end-of-period assets to $18.6 billion, a rise in loans to $11.8 billion, and growth in average deposits to $14.3 billion.

Key highlights were the robust capital position, with a Common Equity Tier 1 (CET1) ratio of 12.16%. The company emphasized its focus on prudent risk management and credit quality to navigate through various economic cycles. The earnings per share growth over the years indicated consistent performance.

First Financial Bancorp outlined various growth strategies, focusing on balanced financial services, including commercial banking, wealth management, and mortgage banking. The company also remains dedicated to enhancing client experience, expanding digital offerings, and strengthening its talent base.

The company’s strong asset quality was underscored by a provision expense of $9.4 million, aiming at maintaining a healthy balance between risk and reward. The noninterest income for the quarter stood at $69.9 million, with notable contributions from foreign exchange income, leasing business, and wealth management services.

Regarding future expectations, First Financial Bancorp anticipates a moderate increase in loan balances, a stable investment portfolio, and a focus on maintaining a stable noninterest expense base. The company also plans to continue its dividend at $0.24.

In conclusion, First Financial Bancorp’s fourth quarter performance reflected its resilience and strategic focus in navigating through evolving market conditions, ensuring a robust foundation for future growth and stability.

The financial information presented in the investor presentation is based on various methods and non-GAAP financial measures, offering supplemental insights into the company’s performance and strategic decisions. Investors and stakeholders are encouraged to refer to the reconciliation tables provided for a detailed comparison with GAAP measures.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read First Financial Bancorp.’s 8K filing here.

First Financial Bancorp. Company Profile

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.