First Financial Bancorp Announces Second Quarter and Year to Date 2025 Financial Results & Quarterly Dividend Increase

Earnings per diluted share of $0.73; $0.74 on an adjusted(1) basis Return on average assets of 1.52%; 1.54% on an adjusted(1) basis Net interest margin on FTE basis(1) of 4.05%; 17 bp increase from first quarter Record quarterly revenue of $226.3 million TCE ratio increased to 8.40%; ROATCE of 20% Net charge-offs 0.21% as a percentage of total loans Board of Directors approved quarterly dividend increase to $0.25 , /PRNewswire/ -- First Financial Bancorp. (Nasdaq: FFBC) ("First Financial" or the "Company") announced financial results for the three and six months ended June 30, 2025. For the three months ended June 30, 2025, the Company reported net income of $70.0 million, or $0.73 per diluted common share. These results compare to net income of $51.3 million, or $0.54 per diluted common share, for the first quarter of 2025. For the six months ended June 30, 2025, First Financial had earnings per diluted share of $1.27 compared to $1.17 for the same period in 2024. Return on average assets for the second quarter of 2025 was 1.52% while return on average tangible common equity was 19.61%(1). These compare to return on average assets of 1.13% and return on average tangible common equity of 15.16%(1) in the first quarter of 2025. Second quarter 2025 highlights include: Robust net interest margin of 4.01%, or 4.05% on a fully tax-equivalent basis(1) 17 bp increase from first quarter 12 bp decline in funding costs and 5 bp increase in asset yields Noninterest income of $68.1 million, or $67.8 million as adjusted(1) Adjustments include $0.2 million gain on sales of investment securities Double digit percentage growth from linked quarter in mortgage and bankcard income Strong leasing business income of $20.8 million, an increase of 11.2% from first quarter Foreign exchange income increased $1.2 million, or 9.7% from first quarter Noninterest expenses of $128.7 million, or $127.6 million as adjusted(1); 0.8% increase from linked quarter Second quarter adjustments(1) include $1.0 million of efficiency and acquisition related costs Efficiency ratio of 56.9%; 56.4% as adjusted(1) Loan growth during the quarter of 2% on an annualized basis Loan balances increased $62.1 million compared to the linked quarter Quarterly growth driven by C&I, Agile, Summit and Consumer; offsetting elevated prepayments in ICRE Average deposit growth of 3% on an annualized basis Average deposit balances increased $114.1 million Second quarter included $85 million seasonal increase in public funds Growth in noninterest bearing deposits, retail CDs, and savings offset by declines in interest-bearing demand and money market balances ________________________________________________________________________________(1) Non-GAAP measure. For details on the calculation of these non-GAAP financial measures and a reconciliation to the GAAP financial measure, see the sections titled "Use of Non-GAAP Financial Measures" in this release and "Appendix: Non-GAAP to GAAP Reconciliation" in the accompanying slide presentation. Total Allowance for Credit Losses of $175.7 million; Total quarterly provision expense of $9.8 million Loans and leases - ACL of $158.5 million; ratio to total loans of 1.34% Unfunded Commitments - ACL of $17.1 million Provision expense driven by loan growth and net charge-offs Annualized net charge-offs were 21 bps of total loans; 15 bp decline from linked quarter Nonperforming assets increased 9 bps to 0.41% of total assets Capital ratios stable and strong Total capital ratio increased 8 bps to 14.98% Tier 1 common equity increased 28 bps to 12.57% Tangible common equity of 8.40%(1); 9.81%(1) excluding impact from AOCI Tangible book value per share of $15.40(1); 4% increase from linked quarter Additionally, the Board of Directors approved a quarterly dividend of $0.25 per common share for the next regularly scheduled dividend, payable on September 15, 2025 to shareholders of record as of September 2, 2025. Archie Brown, President and CEO, commented on the quarter, "I am thrilled with our performance this quarter. We achieved record revenue of $226.3 million, which represents a 5% increase over the same quarter one year ago. This drove adjusted(1) earnings per share of $0.74, an adjusted(1) return on assets of 1.54% and an adjusted(1) return on tangible common equity of 20%. The Company's industry-leading profitability was once again driven by a robust net interest margin. Loan growth was 2% on an annualized basis, and we were pleased with broad-based growth in most portfolios, with the exception of commercial real estate, which declined due to accelerated payoffs. Payoffs have started to subside, and we expect higher loan growth in the second half of this year." Mr. Brown continued, "We recorded adjusted(1) noninterest income of $67.8 million in the second quarter, which was an 11% increase over the linked quarter and a 10% increase over the second quarter of 2024. Growth in fees was broad-based, with mortgage, bankcard income, leasing business income and Bannockburn all increasing by double-digit percentages over the linked quarter. We were also pleased with our expense management, with adjusted(1) noninterest expenses increasing 1% compared to the first quarter. Excluding leasing business expenses, which continue to increase as our operating lease portfolio grows, adjusted(1) noninterest expenses increased by less than 2% year over year." Mr. Brown commented on asset quality, "Asset quality was stable for the quarter. Net charge-offs declined 15 basis points from the first quarter to 21 basis points of total loans and classified asset balances were relatively flat. Our outlook for asset quality remains positive, and we expect net charge-offs to be in the 20-25 basis points range for the remainder of the year." Mr. Brown discussed capital and an increase to the common dividend, "We are pleased with the strength of our capital levels. Regulatory ratios are very strong and TCE has continued to grow, increasing 16% over the last year to 8.40%. Tangible book value per share increased to $15.40, which was a 4% increase from the linked quarter and a 19% increase over the same period last year. We are also pleased to announce that our Board of Directors approved a $0.01, or 4.2%, increase in the common dividend to $0.25. The dividend payout remains approximately 35% of net income and continues to provide an attractive yield." Mr. Brown concluded, "We are excited about our recent announcement to acquire Westfield Bank in Northeast Ohio and are actively engaged in the integration process. Appropriate applications have been filed with our regulators, and we continue to expect approval and closing to occur this year. In summary, we are very pleased with our second quarter and year to date financial performance and remain very excited about our outlook for the remainder of 2025 and beyond." Full detail of the Company's second quarter 2025 performance is provided in the accompanying financial statements and slide presentation. Teleconference / Webcast Information First Financial's executive management will host a conference call to discuss the Company's financial and operating results on Friday, July 25, 2025 at 8:30 a.m. Eastern Time. Members of the public who would like to listen to the conference call should dial (888) 550-5723 (U.S. toll free) or (646) 960-0471 (U.S. local), access code 5048068. The number should be dialed five to ten minutes prior to the start of the conference call. A replay of the conference call will be available beginning one hour after the completion of the live call at (800) 770-2030 (U.S. toll free), (609) 800-9099 (U.S. toll), access code 5048068. The recording will be available until August 8, 2025. The conference call will also be accessible as an audio webcast via the Investor Relations section of the Company's website at www.bankatfirst.com. The webcast will be archived on the Investor Relations section of the Company's website for 12 months. Press Release and Additional Information on Website This press release as well as supplemental information are available to the public through the Investor Relations section of First Financial's website at www.bankatfirst.com. Use of Non-GAAP Financial Measures This earnings release contains GAAP financial measures and Non-GAAP financial measures where management believes it to be helpful in understanding the Company's results of operations or financial position. Where Non-GAAP financial measures are used, the comparable GAAP financial measures, as well as a reconciliation to the comparable GAAP financial measure, can be found in the section titled "Appendix: Non-GAAP to GAAP Reconciliation" in the accompanying slide presentation. Forward-Looking Statements Certain statements contained in this report which are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as ''believes,'' ''anticipates,'' "likely," "expected," "estimated," ''intends'' and other similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Examples of forward-looking statements include, but are not limited to, statements we make about (i) our future operating or financial performance, including revenues, income or loss and earnings or loss per share, (ii) future common stock dividends, (iii) our capital structure, including future capital levels, (iv) our plans, objectives and strategies, and (v) the assumptions that underlie our forward-looking statements. As with any forecast or projection, forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that may cause actual results to differ materially from those set forth in the forward-looking statements. Forward-looking statements are not historical facts but instead express only management's beliefs regarding future results or events, many of which, by their nature, are inherently uncertain and outside of management's control. It is possible that actual results and outcomes may differ, possibly materially, from the anticipated results or outcomes indicated in these forward-looking statements. Important factors that could cause actual results to differ materially from those in our forward-looking statements include the following, without limitation: economic, market, liquidity, credit, interest rate, operational and technological risks associated with the Company's business; future credit quality and performance, including our expectations regarding future loan losses and our allowance for credit losses the effect of and changes in policies and laws or regulatory agencies, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and other legislation and regulation relating to the banking industry; Management's ability to effectively execute its business plans; mergers and acquisitions, including costs or difficulties related to the integration of acquired companies; the possibility that any of the anticipated benefits of the Company's acquisitions will not be realized or will not be realized within the expected time period; the effect of changes in accounting policies and practices; changes in consumer spending, borrowing and saving and changes in unemployment; changes in customers' performance and creditworthiness; the costs and effects of litigation and of unexpected or adverse outcomes in such litigation; current and future economic and market conditions, including the effects of changes in housing prices, fluctuations in unemployment rates, U.S. fiscal debt, budget and tax matters, geopolitical matters, trade and tariff policies, and any slowdown in global economic growth; the adverse impact on the U.S. economy, including the markets in which we operate, of the novel coronavirus, which causes the Coronavirus disease 2019 ("COVID-19"), global pandemic, and the impact on the performance of our loan and lease portfolio, the market value of our investment securities, the availability of sources of funding and the demand for our products; our capital and liquidity requirements (including under regulatory capital standards, such as the Basel III capital standards) and our ability to generate capital internally or raise capital on favorable terms; financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including the Dodd-Frank Act and other legislation and regulation relating to bank products and services; the effect of the current interest rate environment or changes in interest rates or in the level or composition of our assets or liabilities on our net interest income, net interest margin and our mortgage originations, mortgage servicing rights and mortgage loans held for sale; the effect of a fall in stock market prices on our brokerage, asset and wealth management businesses; a failure in or breach of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber attacks; the effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin; and our ability to develop and execute effective business plans and strategies. Additional factors that may cause our actual results to differ materially from those described in our forward-looking statements can be found in our Form 10-K for the year ended December 31, 2024, as well as our other filings with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements included in this filing are made as of the date hereof and are based on information available at the time of the filing. Except as required by law, the Company does not assume any obligation to update any forward-looking statement. About First Financial Bancorp. First Financial Bancorp. is a Cincinnati, Ohio based bank holding company. As of June 30, 2025, the Company had $18.6 billion in assets, $11.8 billion in loans, $14.4 billion in deposits and $2.6 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 $3.8 billion in assets under management as of June 30, 2025. The Company operated 128 full service banking centers as of June 30, 2025, located in Ohio, Indiana, Kentucky and Illinois, while the Commercial Finance business lends into targeted industry verticals on a nationwide basis. In 2025, First Financial Bank received its second consecutive Outstanding rating from the Federal Reserve for its performance under the Community Reinvestment Act and was recognized as a Gallup Exceptional Workplace Award winner, one of only 70 Gallup clients worldwide to receive this designation. Additional information about the Company, including its products, services and banking locations, is available at www.bankatfirst.com. FIRST FINANCIAL BANCORP. CONSOLIDATED FINANCIAL HIGHLIGHTS (Dollars in thousands, except per share data) (Unaudited) Three Months Ended, Six months ended, June 30, Mar. 31, Dec. 31, Sep. 30, June 30, June 30, 2025 2025 2024 2024 2024 2025 2024 RESULTS OF OPERATIONS Net income $ 69,996 $ 51,293 $ 64,885 $ 52,451 $ 60,805 $ 121,289 $ 111,494 Net earnings per share - basic $ 0.74 $ 0.54 $ 0.69 $ 0.56 $ 0.64 $ 1.28 $ 1.18 Net earnings per share - diluted $ 0.73 $ 0.54 $ 0.68 $ 0.55 $ 0.64 $ 1.27 $ 1.17 Dividends declared per share $ 0.24 $ 0.24 $ 0.24 $ 0.24 $ 0.23 $ 0.48 $ 0.46 KEY FINANCIAL RATIOS Return on average assets 1.52 % 1.13 % 1.41 % 1.17 % 1.38 % 1.33 % 1.28 % Return on average shareholders' equity 11.16 % 8.46 % 10.57 % 8.80 % 10.72 % 9.83 % 9.86 % Return on average tangible shareholders' equity (1) 19.61 % 15.16 % 19.08 % 16.29 % 20.57 % 17.44 % 18.97 % Net interest margin 4.01 % 3.84 % 3.91 % 4.05 % 4.06 % 3.93 % 4.06 % Net interest margin (fully tax equivalent) (1)(2) 4.05 % 3.88 % 3.94 % 4.08 % 4.10 % 3.96 % 4.10 % Ending shareholders' equity as a percent of ending assets 13.73 % 13.55 % 13.13 % 13.50 % 12.81 % 13.73 % 12.81 % Ending tangible shareholders' equity as a percent of: Ending tangible assets (1) 8.40 % 8.16 % 7.73 % 7.98 % 7.23 % 8.40 % 7.23 % Risk-weighted assets (1) 10.44 % 10.10 % 9.61 % 9.86 % 8.95 % 10.44 % 8.95 % Average shareholders' equity as a percent of average assets 13.66 % 13.38 % 13.36 % 13.28 % 12.87 % 13.52 % 12.98 % Average tangible shareholders' equity as a percent of average tangible assets (1) 8.26 % 7.94 % 7.87 % 7.64 % 7.15 % 8.10 % 7.20 % Book value per share $ 26.71 $ 26.13 $ 25.53 $ 25.66 $ 24.36 $ 26.71 $ 24.36 Tangible book value per share (1) $ 15.40 $ 14.80 $ 14.15 $ 14.26 $ 12.94 $ 15.40 $ 12.94 Common equity tier 1 ratio (3) 12.57 % 12.29 % 12.16 % 12.04 % 11.78 % 12.57 % 11.78 % Tier 1 ratio (3) 12.89 % 12.61 % 12.48 % 12.37 % 12.11 % 12.89 % 12.11 % Total capital ratio (3) 14.98 % 14.90 % 14.64 % 14.58 % 14.47 % 14.98 % 14.47 % Leverage ratio (3) 10.28 % 10.01 % 9.98 % 9.93 % 9.73 % 10.28 % 9.73 % AVERAGE BALANCE SHEET ITEMS Loans (4) $ 11,792,840 $ 11,724,727 $ 11,687,886 $ 11,534,000 $ 11,440,930 $ 11,758,972 $ 11,253,557 Investment securities 3,478,921 3,411,593 3,372,539 3,274,498 3,131,541 3,445,443 3,134,603 Interest-bearing deposits with other banks 542,815 615,812 654,251 483,880 599,348 579,112 576,501 Total earning assets $ 15,814,576 $ 15,752,132 $ 15,714,676 $ 15,292,378 $ 15,171,819 $ 15,783,527 $ 14,964,661 Total assets $ 18,419,437 $ 18,368,604 $ 18,273,419 $ 17,854,191 $ 17,728,251 $ 18,394,161 $ 17,517,236 Noninterest-bearing deposits $ 3,143,081 $ 3,091,037 $ 3,162,643 $ 3,106,239 $ 3,144,198 $ 3,117,203 $ 3,156,974 Interest-bearing deposits 11,211,694 11,149,633 11,177,010 10,690,265 10,486,068 11,180,835 10,297,742 Total deposits $ 14,354,775 $ 14,240,670 $ 14,339,653 $ 13,796,504 $ 13,630,266 $ 14,298,038 $ 13,454,716 Borrowings $ 910,573 $ 1,001,337 $ 855,083 $ 1,053,737 $ 1,171,246 $ 955,704 $ 1,155,130 Shareholders' equity $ 2,515,747 $ 2,457,785 $ 2,441,045 $ 2,371,125 $ 2,281,040 $ 2,486,926 $ 2,273,301 CREDIT QUALITY RATIOS Allowance to ending loans 1.34 % 1.33 % 1.33 % 1.37 % 1.36 % 1.34 % 1.36 % Allowance to nonaccrual loans 206.08 % 261.07 % 237.66 % 242.72 % 249.21 % 206.08 % 249.21 % Nonaccrual loans to total loans 0.65 % 0.51 % 0.56 % 0.57 % 0.54 % 0.65 % 0.54 % Nonperforming assets to ending loans, plus OREO 0.65 % 0.51 % 0.56 % 0.57 % 0.54 % 0.65 % 0.54 % Nonperforming assets to total assets 0.41 % 0.32 % 0.36 % 0.36 % 0.35 % 0.41 % 0.35 % Classified assets to total assets 1.15 % 1.16 % 1.21 % 1.14 % 1.07 % 1.15 % 1.07 % Net charge-offs to average loans (annualized) 0.21 % 0.36 % 0.40 % 0.25 % 0.15 % 0.28 % 0.27 % (1) Non-GAAP measure. For details on the calculation of these non-GAAP financial measures and a reconciliation to the GAAP financial measure, see the sections titled "Use of Non-GAAP Financial Measures" in this release and "Appendix: Non-GAAP to GAAP Reconciliation" in the accompanying slide presentation. (2) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% tax rate. Management believes that it is a standard practice in the banking industry to present net interest margin and net interest income on a fully tax equivalent basis. Therefore, management believes these measures provide useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons. (3) June 30, 2025 regulatory capital ratios are preliminary. (4) Includes loans held for sale. FIRST FINANCIAL BANCORP. CONSOLIDATED STATEMENTS OF INCOME (Dollars in thousands, except per share data) (Unaudited) Three months ended, Six months ended, June 30, June 30, 2025 2024 % Change 2025 2024 % Change Interest income Loans and leases, including fees $ 201,460 $ 211,760 (4.9) % $ 398,623 $ 413,600 (3.6) % Investment securities Taxable 36,243 30,295 19.6 % 70,644 58,591 20.6 % Tax-exempt 2,233 2,704 (17.4) % 4,437 5,796 (23.4) % Total investment securities interest 38,476 32,999 16.6 % 75,081 64,387 16.6 % Other earning assets 5,964 7,960 (25.1) % 12,615 15,418 (18.2) % Total interest income 245,900 252,719 (2.7) % 486,319 493,405 (1.4) % Interest expense Deposits 75,484 83,022 (9.1) % 154,125 159,097 (3.1) % Short-term borrowings 6,393 11,395 (43.9) % 13,938 22,338 (37.6) % Long-term borrowings 5,754 4,991 15.3 % 10,691 9,919 7.8 % Total interest expense 87,631 99,408 (11.8) % 178,754 191,354 (6.6) % Net interest income 158,269 153,311 3.2 % 307,565 302,051 1.8 % Provision for credit losses-loans and leases 9,084 16,157 (43.8) % 18,225 29,576 (38.4) % Provision for credit losses-unfunded commitments 718 286 151.0 % 277 (1,973) (114.0) % Net interest income after provision for credit losses 148,467 136,868 8.5 % 289,063 274,448 5.3 % Noninterest income Service charges on deposit accounts 7,766 7,188 8.0 % 15,229 14,100 8.0 % Wealth management fees 7,787 7,172 8.6 % 15,924 13,848 15.0 % Bankcard income 3,737 3,900 (4.2) % 7,047 7,042 0.1 % Client derivative fees 1,674 763 119.4 % 3,245 2,013 61.2 % Foreign exchange income 13,760 16,787 (18.0) % 26,304 27,222 (3.4) % Leasing business income 20,797 16,828 23.6 % 39,500 31,417 25.7 % Net gains from sales of loans 6,687 4,479 49.3 % 11,009 8,263 33.2 % Net gain (loss) on investment securities 243 (64) 479.7 % (9,706) (5,251) 84.8 % Other 5,612 4,448 26.2 % 10,594 9,359 13.2 % Total noninterest income 68,063 61,501 10.7 % 119,146 108,013 10.3 % Noninterest expenses Salaries and employee benefits 74,917 75,225 (0.4) % 150,155 149,262 0.6 % Net occupancy 5,845 5,793 0.9 % 11,864 11,716 1.3 % Furniture and equipment 3,441 3,646 (5.6) % 7,254 7,334 (1.1) % Data processing 9,020 8,877 1.6 % 17,779 17,182 3.5 % Marketing 2,737 2,605 5.1 % 4,755 4,567 4.1 % Communication 681 816 (16.5) % 1,493 1,611 (7.3) % Professional services 3,549 2,885 23.0 % 6,288 5,153 22.0 % Amortization of tax credit investments 111 31 258.1 % 223 62 259.7 % State intangible tax 1,517 875 73.4 % 2,394 1,752 36.6 % FDIC assessments 2,611 2,657 (1.7) % 5,670 5,437 4.3 % Intangible amortization 2,358 2,396 (1.6) % 4,717 4,697 0.4 % Leasing business expense 13,155 10,128 29.9 % 25,957 19,882 30.6 % Other 8,729 7,640 14.3 % 18,198 17,274 5.3 % Total noninterest expenses 128,671 123,574 4.1 % 256,747 245,929 4.4 % Income before income taxes 87,859 74,795 17.5 % 151,462 136,532 10.9 % Income tax expense 17,863 13,990 27.7 % 30,173 25,038 20.5 % Net income $ 69,996 $ 60,805 15.1 % $ 121,289 $ 111,494 8.8 % ADDITIONAL DATA Net earnings per share - basic $ 0.74 $ 0.64 $ 1.28 $ 1.18 Net earnings per share - diluted $ 0.73 $ 0.64 $ 1.27 $ 1.17 Dividends declared per share $ 0.24 $ 0.23 $ 0.48 $ 0.46 Return on average assets 1.52 % 1.38 % 1.33 % 1.28 % Return on average shareholders' equity 11.16 % 10.72 % 9.83 % 9.86 % Interest income $ 245,900 $ 252,719 (2.7) % $ 486,319 $ 493,405 (1.4) % Tax equivalent adjustment 1,246 1,418 (12.1) % 2,459 2,953 (16.7) % Interest income - tax equivalent 247,146 254,137 (2.8) % 488,778 496,358 (1.5) % Interest expense 87,631 99,408 (11.8) % 178,754 191,354 (6.6) % Net interest income - tax equivalent $ 159,515 $ 154,729 3.1 % $ 310,024 $ 305,004 1.6 % Net interest margin 4.01 % 4.06 % 3.93 % 4.06 % Net interest margin (fully tax equivalent) (1) 4.05 % 4.10 % 3.96 % 4.10 % Full-time equivalent employees 2,033 2,144 (1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% tax rate. Management believes that it is a standard practice in the banking industry to present net interest income on a fully tax equivalent basis. Therefore, management believes these measures provide useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons. FIRST FINANCIAL BANCORP. CONSOLIDATED QUARTERLY STATEMENTS OF INCOME (Dollars in thousands, except per share data) (Unaudited) 2025 Second First Year to % Change Quarter Quarter Date Linked Qtr. Interest income Loans and leases, including fees $ 201,460 $ 197,163 $ 398,623 2.2 % Investment securities Taxable 36,243 34,401 70,644 5.4 % Tax-exempt 2,233 2,204 4,437 1.3 % Total investment securities interest 38,476 36,605 75,081 5.1 % Other earning assets 5,964 6,651 12,615 (10.3) % Total interest income 245,900 240,419 486,319 2.3 % Interest expense Deposits 75,484 78,641 154,125 (4.0) % Short-term borrowings 6,393 7,545 13,938 (15.3) % Long-term borrowings 5,754 4,937 10,691 16.5 % Total interest expense 87,631 91,123 178,754 (3.8) % Net interest income 158,269 149,296 307,565 6.0 % Provision for credit losses-loans and leases 9,084 9,141 18,225 (0.6) % Provision for credit losses-unfunded commitments 718 (441) 277 (262.8) % Net interest income after provision for credit losses 148,467 140,596 289,063 5.6 % Noninterest income Service charges on deposit accounts 7,766 7,463 15,229 4.1 % Wealth management fees 7,787 8,137 15,924 (4.3) % Bankcard income 3,737 3,310 7,047 12.9 % Client derivative fees 1,674 1,571 3,245 6.6 % Foreign exchange income 13,760 12,544 26,304 9.7 % Leasing business income 20,797 18,703 39,500 11.2 % Net gains from sales of loans 6,687 4,322 11,009 54.7 % Net gain (loss) on investment securities 243 (9,949) (9,706) 102.4 % Other 5,612 4,982 10,594 12.6 % Total noninterest income 68,063 51,083 119,146 33.2 % Noninterest expenses Salaries and employee benefits 74,917 75,238 150,155 (0.4) % Net occupancy 5,845 6,019 11,864 (2.9) % Furniture and equipment 3,441 3,813 7,254 (9.8) % Data processing 9,020 8,759 17,779 3.0 % Marketing 2,737 2,018 4,755 35.6 % Communication 681 812 1,493 (16.1) % Professional services 3,549 2,739 6,288 29.6 % Amortization of tax credit investments 111 112 223 (0.9) % State intangible tax 1,517 877 2,394 73.0 % FDIC assessments 2,611 3,059 5,670 (14.6) % Intangible amortization 2,358 2,359 4,717 0.0 % Leasing business expense 13,155 12,802 25,957 2.8 % Other 8,729 9,469 18,198 (7.8) % Total noninterest expenses 128,671 128,076 256,747 0.5 % Income before income taxes 87,859 63,603 151,462 38.1 % Income tax expense 17,863 12,310 30,173 45.1 % Net income $ 69,996 $ 51,293 $ 121,289 36.5 % ADDITIONAL DATA Net earnings per share - basic $ 0.74 $ 0.54 $ 1.28 Net earnings per share - diluted $ 0.73 $ 0.54 $ 1.27 Dividends declared per share $ 0.24 $ 0.24 $ 0.48 Return on average assets 1.52 % 1.13 % 1.33 % Return on average shareholders' equity 11.16 % 8.46 % 9.83 % Interest income $ 245,900 $ 240,419 $ 486,319 2.3 % Tax equivalent adjustment 1,246 1,213 2,459 2.7 % Interest income - tax equivalent 247,146 241,632 488,778 2.3 % Interest expense 87,631 91,123 178,754 (3.8) % Net interest income - tax equivalent $ 159,515 $ 150,509 $ 310,024 6.0 % Net interest margin 4.01 % 3.84 % 3.93 % Net interest margin (fully tax equivalent) (1) 4.05 % 3.88 % 3.96 % Full-time equivalent employees 2,033 2,021 (1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% tax rate. Management believes that it is a standard practice in the banking industry to present net interest income on a fully tax equivalent basis. Therefore, management believes these measures provide useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons. FIRST FINANCIAL BANCORP. CONSOLIDATED QUARTERLY STATEMENTS OF INCOME (Dollars in thousands, except per share data) (Unaudited) 2024 Fourth Third Second First Full Quarter Quarter Quarter Quarter Year Interest income Loans and leases, including fees $ 207,508 $ 215,433 $ 211,760 $ 201,840 $ 836,541 Investment securities Taxable 33,978 32,367 30,295 28,296 124,936 Tax-exempt 2,423 2,616 2,704 3,092 10,835 Total investment securities interest 36,401 34,983 32,999 31,388 135,771 Other earning assets 7,662 6,703 7,960 7,458 29,783 Total interest income 251,571 257,119 252,719 240,686 1,002,095 Interest expense Deposits 85,441 86,554 83,022 76,075 331,092 Short-term borrowings 6,586 9,932 11,395 10,943 38,856 Long-term borrowings 5,145 5,073 4,991 4,928 20,137 Total interest expense 97,172 101,559 99,408 91,946 390,085 Net interest income 154,399 155,560 153,311 148,740 612,010 Provision for credit losses-loans and leases 9,705 9,930 16,157 13,419 49,211 Provision for credit losses-unfunded commitments (273) 694 286 (2,259) (1,552) Net interest income after provision for credit losses 144,967 144,936 136,868 137,580 564,351 Noninterest income Service charges on deposit accounts 7,632 7,547 7,188 6,912 29,279 Wealth management fees 7,962 6,910 7,172 6,676 28,720 Bankcard income 3,659 3,698 3,900 3,142 14,399 Client derivative fees 1,528 1,160 763 1,250 4,701 Foreign exchange income 16,794 12,048 16,787 10,435 56,064 Leasing business income 19,413 16,811 16,828 14,589 67,641 Net gains from sales of loans 4,634 5,021 4,479 3,784 17,918 Net gain (loss) on investment securities 144 (17,468) (64) (5,187) (22,575) Other 8,088 9,974 4,448 4,911 27,421 Total noninterest income 69,854 45,701 61,501 46,512 223,568 Noninterest expenses Salaries and employee benefits 80,314 74,813 75,225 74,037 304,389 Net occupancy 5,415 5,919 5,793 5,923 23,050 Furniture and equipment 3,476 3,617 3,646 3,688 14,427 Data processing 9,139 8,857 8,877 8,305 35,178 Marketing 2,204 2,255 2,605 1,962 9,026 Communication 767 851 816 795 3,229 Professional services 6,631 2,303 2,885 2,268 14,087 Amortization of tax credit investments 14,303 31 31 31 14,396 State intangible tax (104) 876 875 877 2,524 FDIC assessments 2,736 3,036 2,657 2,780 11,209 Intangible amortization 2,395 2,395 2,396 2,301 9,487 Leasing business expense 12,536 11,899 10,128 9,754 44,317 Other 8,095 8,907 7,640 9,634 34,276 Total noninterest expenses 147,907 125,759 123,574 122,355 519,595 Income before income taxes 66,914 64,878 74,795 61,737 268,324 Income tax expense 2,029 12,427 13,990 11,048 39,494 Net income $ 64,885 $ 52,451 $ 60,805 $ 50,689 $ 228,830 ADDITIONAL DATA Net earnings per share - basic $ 0.69 $ 0.56 $ 0.64 $ 0.54 $ 2.42 Net earnings per share - diluted $ 0.68 $ 0.55 $ 0.64 $ 0.53 $ 2.40 Dividends declared per share $ 0.24 $ 0.24 $ 0.23 $ 0.23 $ 0.94 Return on average assets 1.41 % 1.17 % 1.38 % 1.18 % 1.29 % Return on average shareholders' equity 10.57 % 8.80 % 10.72 % 9.00 % 9.78 % Interest income $ 251,571 $ 257,119 $ 252,719 $ 240,686 $ 1,002,095 Tax equivalent adjustment 1,274 1,362 1,418 1,535 5,589 Interest income - tax equivalent 252,845 258,481 254,137 242,221 1,007,684 Interest expense 97,172 101,559 99,408 91,946 390,085 Net interest income - tax equivalent $ 155,673 $ 156,922 $ 154,729 $ 150,275 $ 617,599 Net interest margin 3.91 % 4.05 % 4.06 % 4.05 % 4.02 % Net interest margin (fully tax equivalent) (1) 3.94 % 4.08 % 4.10 % 4.10 % 4.05 % Full-time equivalent employees 2,064 2,084 2,144 2,116 (1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% tax rate. Management believes that it is a standard practice in the banking industry to present net interest income on a fully tax equivalent basis. Therefore, management believes these measures provide useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons. FIRST FINANCIAL BANCORP. CONSOLIDATED STATEMENTS OF CONDITION (Dollars in thousands) (Unaudited) June 30, Mar. 31, Dec. 31, Sep. 30, June 30, % Change % Change 2025 2025 2024 2024 2024 Linked Qtr. Comp Qtr. ASSETS Cash and due from banks $ 210,187 $ 190,610 $ 174,258 $ 190,618 $ 193,794 10.3 % 8.5 % Interest-bearing deposits with other banks 570,173 633,349 730,228 660,576 738,555 (10.0) % (22.8) % Investment securities available-for-sale 3,386,562 3,260,981 3,183,776 3,157,265 3,036,758 3.9 % 11.5 % Investment securities held-to-maturity 72,994 76,469 76,960 77,985 78,921 (4.5) % (7.5) % Other investments 122,322 120,826 114,598 120,318 132,412 1.2 % (7.6) % Loans held for sale 26,504 17,927 13,181 12,685 16,911 47.8 % 56.7 % Loans and leases Commercial and industrial 3,927,771 3,832,350 3,815,858 3,678,546 3,782,487 2.5 % 3.8 % Lease financing 587,176 573,608 598,045 587,415 534,557 2.4 % 9.8 % Construction real estate 732,777 824,775 779,446 802,264 741,406 (11.2) % (1.2) % Commercial real estate 3,961,513 3,956,880 4,061,744 4,034,820 4,076,596 0.1 % (2.8) % Residential real estate 1,492,688 1,479,704 1,462,284 1,422,186 1,377,290 0.9 % 8.4 % Home equity 903,299 872,502 849,039 825,431 800,860 3.5 % 12.8 % Installment 116,598 119,672 133,051 141,270 148,530 (2.6) % (21.5) % Credit card 64,374 64,639 62,311 61,140 59,477 (0.4) % 8.2 % Total loans 11,786,196 11,724,130 11,761,778 11,553,072 11,521,203 0.5 % 2.3 % Less: Allowance for credit losses (158,522) (155,482) (156,791) (158,831) (156,185) 2.0 % 1.5 % Net loans 11,627,674 11,568,648 11,604,987 11,394,241 11,365,018 0.5 % 2.3 % Premises and equipment 197,741 197,968 197,965 196,692 197,873 (0.1) % (0.1) % Operating leases 217,100 213,648 209,119 201,080 167,472 1.6 % 29.6 % Goodwill 1,007,656 1,007,656 1,007,656 1,007,656 1,007,656 0.0 % 0.0 % Other intangibles 75,458 77,002 79,291 81,547 83,528 (2.0) % (9.7) % Accrued interest and other assets 1,119,884 1,089,983 1,178,242 1,045,669 1,147,282 2.7 % (2.4) % Total Assets $ 18,634,255 $ 18,455,067 $ 18,570,261 $ 18,146,332 $ 18,166,180 1.0 % 2.6 % LIABILITIES Deposits Interest-bearing demand $ 3,057,232 $ 3,004,601 $ 3,095,724 $ 2,884,971 $ 2,922,540 1.8 % 4.6 % Savings 4,979,124 4,886,613 4,948,768 4,710,223 4,628,320 1.9 % 7.6 % Time 3,201,711 3,144,440 3,152,265 3,244,861 3,049,635 1.8 % 5.0 % Total interest-bearing deposits 11,238,067 11,035,654 11,196,757 10,840,055 10,600,495 1.8 % 6.0 % Noninterest-bearing 3,131,926 3,161,302 3,132,381 3,107,699 3,061,427 (0.9) % 2.3 % Total deposits 14,369,993 14,196,956 14,329,138 13,947,754 13,661,922 1.2 % 5.2 % FHLB short-term borrowings 680,000 735,000 625,000 765,000 1,040,000 (7.5) % (34.6) % Other 4,699 64,792 130,452 46,653 139,172 (92.7) % (96.6) % Total short-term borrowings 684,699 799,792 755,452 811,653 1,179,172 (14.4) % (41.9) % Long-term debt 344,955 345,878 347,509 344,086 338,556 (0.3) % 1.9 % Total borrowed funds 1,029,654 1,145,670 1,102,961 1,155,739 1,517,728 (10.1) % (32.2) % Accrued interest and other liabilities 676,453 611,206 700,121 592,401 660,091 10.7 % 2.5 % Total Liabilities 16,076,100 15,953,832 16,132,220 15,695,894 15,839,741 0.8 % 1.5 % SHAREHOLDERS' EQUITY Common stock 1,638,796 1,637,041 1,642,055 1,639,045 1,635,705 0.1 % 0.2 % Retained earnings 1,351,674 1,304,636 1,276,329 1,234,375 1,204,844 3.6 % 12.2 % Accumulated other comprehensive income (loss) (246,384) (253,888) (289,799) (232,262) (323,409) (3.0) % (23.8) % Treasury stock, at cost (185,931) (186,554) (190,544) (190,720) (190,701) (0.3) % (2.5) % Total Shareholders' Equity 2,558,155 2,501,235 2,438,041 2,450,438 2,326,439 2.3 % 10.0 % Total Liabilities and Shareholders' Equity $ 18,634,255 $ 18,455,067 $ 18,570,261 $ 18,146,332 $ 18,166,180 1.0 % 2.6 % FIRST FINANCIAL BANCORP. AVERAGE CONSOLIDATED STATEMENTS OF CONDITION (Dollars in thousands) (Unaudited) Quarterly Averages Year-to-Date Averages June 30, Mar. 31, Dec. 31, Sep. 30, June 30, June 30, 2025 2025 2024 2024 2024 2025 2024 ASSETS Cash and due from banks $ 174,375 $ 164,734 $ 182,242 $ 179,321 $ 174,435 $ 169,581 $ 189,277 Interest-bearing deposits with other banks 542,815 615,812 654,251 483,880 599,348 579,112 576,501 Investment securities 3,478,921 3,411,593 3,372,539 3,274,498 3,131,541 3,445,443 3,134,603 Loans held for sale 25,026 10,212 17,284 16,399 14,075 17,660 13,072 Loans and leases Commercial and industrial 3,881,001 3,787,207 3,727,549 3,723,761 3,716,083 3,834,363 3,629,779 Lease financing 581,091 585,119 587,110 550,634 509,758 583,094 495,149 Construction real estate 784,028 797,100 826,936 763,779 683,780 790,528 643,877 Commercial real estate 3,958,730 4,018,211 4,045,347 4,059,939 4,146,764 3,988,306 4,124,001 Residential real estate 1,485,479 1,475,703 1,442,799 1,399,932 1,361,133 1,480,618 1,348,941 Home equity 891,761 858,153 837,863 811,265 790,384 875,050 777,897 Installment 117,724 127,192 136,927 143,102 151,753 122,432 154,708 Credit card 68,000 65,830 66,071 65,189 67,200 66,921 66,133 Total loans 11,767,814 11,714,515 11,670,602 11,517,601 11,426,855 11,741,312 11,240,485 Less: Allowance for credit losses (158,170) (158,206) (161,477) (159,252) (147,666) (158,188) (145,808) Net loans 11,609,644 11,556,309 11,509,125 11,358,349 11,279,189 11,583,124 11,094,677 Premises and equipment 198,407 198,998 197,664 197,881 199,096 198,701 198,789 Operating leases 212,684 205,181 202,110 180,118 156,457 208,953 155,556 Goodwill 1,007,656 1,007,656 1,007,658 1,007,654 1,007,657 1,007,656 1,007,067 Other intangibles 76,076 78,220 80,486 82,619 84,577 77,142 84,343 Accrued interest and other assets 1,093,833 1,119,889 1,050,060 1,073,472 1,081,876 1,106,789 1,063,351 Total Assets $ 18,419,437 $ 18,368,604 $ 18,273,419 $ 17,854,191 $ 17,728,251 $ 18,394,161 $ 17,517,236 LIABILITIES Deposits Interest-bearing demand $ 3,066,986 $ 3,090,526 $ 3,081,148 $ 2,914,934 $ 2,888,252 $ 3,078,691 $ 2,892,010 Savings 5,005,526 4,918,004 4,886,784 4,694,923 4,617,658 4,962,007 4,508,713 Time 3,139,182 3,141,103 3,209,078 3,080,408 2,980,158 3,140,137 2,897,019 Total interest-bearing deposits 11,211,694 11,149,633 11,177,010 10,690,265 10,486,068 11,180,835 10,297,742 Noninterest-bearing 3,143,081 3,091,037 3,162,643 3,106,239 3,144,198 3,117,203 3,156,974 Total deposits 14,354,775 14,240,670 14,339,653 13,796,504 13,630,266 14,298,038 13,454,716 Federal funds purchased and securities sold under agreements to repurchase 4,780 2,055 2,282 10,807 750 3,425 2,477 FHLB short-term borrowings 532,198 553,667 415,652 626,490 669,111 542,873 657,649 Other 26,226 99,378 93,298 76,859 161,913 62,600 154,020 Total short-term borrowings 563,204 655,100 511,232 714,156 831,774 608,898 814,146 Long-term debt 347,369 346,237 343,851 339,581 339,472 346,806 340,984 Total borrowed funds 910,573 1,001,337 855,083 1,053,737 1,171,246 955,704 1,155,130 Accrued interest and other liabilities 638,342 668,812 637,638 632,825 645,699 653,493 634,089 Total Liabilities 15,903,690 15,910,819 15,832,374 15,483,066 15,447,211 15,907,235 15,243,935 SHAREHOLDERS' EQUITY Common stock 1,637,782 1,641,016 1,640,280 1,637,045 1,634,183 1,639,390 1,636,009 Retained earnings 1,322,168 1,282,300 1,249,263 1,210,924 1,179,827 1,302,344 1,162,137 Accumulated other comprehensive loss (257,873) (275,068) (257,792) (285,978) (341,941) (266,423) (330,771) Treasury stock, at cost (186,330) (190,463) (190,706) (190,866) (191,029) (188,385) (194,074) Total Shareholders' Equity 2,515,747 2,457,785 2,441,045 2,371,125 2,281,040 2,486,926 2,273,301 Total Liabilities and Shareholders' Equity $ 18,419,437 $ 18,368,604 $ 18,273,419 $ 17,854,191 $ 17,728,251 $ 18,394,161 $ 17,517,236 FIRST FINANCIAL BANCORP. NET INTEREST MARGIN RATE/VOLUME ANALYSIS (Dollars in thousands) (Unaudited) Quarterly Averages Year-to-Date Averages June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Balance Interest Yield Balance Interest Yield Balance Interest Yield Balance Yield Balance Yield Earning assets Investments: Investment securities $ 3,478,921 $ 38,476 4.44 % $ 3,411,593 $ 36,605 4.35 % $ 3,131,541 $ 32,999 4.23 % $ 3,445,443 4.39 % $ 3,134,603 4.14 % Interest-bearing deposits with other banks 542,815 5,964 4.41 % 615,812 6,651 4.38 % 599,348 7,960 5.33 % 579,112 4.39 % 576,501 5.39 % Gross loans (1) 11,792,840 201,460 6.85 % 11,724,727 197,163 6.82 % 11,440,930 211,760 7.42 % 11,758,972 6.84 % 11,253,557 7.41 % Total earning assets 15,814,576 245,900 6.24 % 15,752,132 240,419 6.19 % 15,171,819 252,719 6.68 % 15,783,527 6.21 % 14,964,661 6.65 % Nonearning assets Allowance for credit losses (158,170) (158,206) (147,666) (158,188) (145,808) Cash and due from banks 174,375 164,734 174,435 169,581 189,277 Accrued interest and other assets 2,588,656 2,609,944 2,529,663 2,599,241 2,509,106 Total assets $ 18,419,437 $ 18,368,604 $ 17,728,251 $ 18,394,161 $ 17,517,236 Interest-bearing liabilities Deposits: Interest-bearing demand $ 3,066,986 $ 14,139 1.85 % $ 3,090,526 $ 15,188 1.99 % $ 2,888,252 $ 14,923 2.07 % $ 3,078,691 1.92 % $ 2,892,010 2.08 % Savings 5,005,526 29,942 2.40 % 4,918,004 30,355 2.50 % 4,617,658 33,142 2.88 % 4,962,007 2.45 % 4,508,713 2.80 % Time 3,139,182 31,403 4.01 % 3,141,103 33,098 4.27 % 2,980,158 34,957 4.70 % 3,140,137 4.14 % 2,897,019 4.64 % Total interest-bearing deposits 11,211,694 75,484 2.70 % 11,149,633 78,641 2.86 % 10,486,068 83,022 3.18 % 11,180,835 2.78 % 10,297,742 3.12 % Borrowed funds Short-term borrowings 563,204 6,393 4.55 % 655,100 7,545 4.67 % 831,774 11,395 5.49 % 608,898 4.62 % 814,146 5.53 % Long-term debt 347,369 5,754 6.64 % 346,237 4,937 5.78 % 339,472 4,991 5.90 % 346,806 6.22 % 340,984 5.87 % Total borrowed funds 910,573 12,147 5.35 % 1,001,337 12,482 5.06 % 1,171,246 16,386 5.61 % 955,704 5.20 % 1,155,130 5.63 % Total interest-bearing liabilities 12,122,267 87,631 2.90 % 12,150,970 91,123 3.04 % 11,657,314 99,408 3.42 % 12,136,539 2.97 % 11,452,872 3.37 % Noninterest-bearing liabilities Noninterest-bearing demand deposits 3,143,081 3,091,037 3,144,198 3,117,203 3,156,974 Other liabilities 638,342 668,812 645,699 653,493 634,089 Shareholders' equity 2,515,747 2,457,785 2,281,040 2,486,926 2,273,301 Total liabilities & shareholders' equity $ 18,419,437 $ 18,368,604 $ 17,728,251 $ 18,394,161 $ 17,517,236 Net interest income $ 158,269 $ 149,296 $ 153,311 $ 307,565 $ 302,051 Net interest spread 3.34 % 3.15 % 3.26 % 3.24 % 3.28 % Net interest margin 4.01 % 3.84 % 4.06 % 3.93 % 4.06 % Tax equivalent adjustment 0.04 % 0.04 % 0.04 % 0.03 % 0.04 % Net interest margin (fully tax equivalent) 4.05 % 3.88 % 4.10 % 3.96 % 4.10 % (1) Loans held for sale and nonaccrual loans are included in gross loans. FIRST FINANCIAL BANCORP. NET INTEREST MARGIN RATE/VOLUME ANALYSIS (1) (Dollars in thousands) (Unaudited) Linked Qtr. Income Variance Comparable Qtr. Income Variance Year-to-Date Income Variance Rate Volume Total Rate Volume Total Rate Volume Total Earning assets Investment securities $ 712 $ 1,159 $ 1,871 $ 1,635 $ 3,842 $ 5,477 $ 3,920 $ 6,774 $ 10,694 Interest-bearing deposits with other banks 41 (728) (687) (1,375) (621) (1,996) (2,860) 57 (2,803) Gross loans (2) 932 3,365 4,297 (16,312) 6,012 (10,300) (32,110) 17,133 (14,977) Total earning assets 1,685 3,796 5,481 (16,052) 9,233 (6,819) (31,050) 23,964 (7,086) Interest-bearing liabilities Total interest-bearing deposits $ (4,400) $ 1,243 $ (3,157) $ (12,423) $ 4,885 $ (7,538) $ (17,145) $ 12,173 $ (4,972) Borrowed funds Short-term borrowings (191) (961) (1,152) (1,953) (3,049) (5,002) (3,702) (4,698) (8,400) Long-term debt 735 82 817 632 131 763 593 179 772 Total borrowed funds 544 (879) (335) (1,321) (2,918) (4,239) (3,109) (4,519) (7,628) Total interest-bearing liabilities (3,856) 364 (3,492) (13,744) 1,967 (11,777) (20,254) 7,654 (12,600) Net interest income (1) $ 5,541 $ 3,432 $ 8,973 $ (2,308) $ 7,266 $ 4,958 $ (10,796) $ 16,310 $ 5,514 (1) Not tax equivalent. (2) Loans held for sale and nonaccrual loans are included in gross loans. FIRST FINANCIAL BANCORP. CREDIT QUALITY (Dollars in thousands) (Unaudited) Six months ended, June 30, Mar. 31, Dec. 31, Sep. 30, June 30, June 30, June 30, 2025 2025 2024 2024 2024 2025 2024 ALLOWANCE FOR CREDIT LOSS ACTIVITY Balance at beginning of period $ 155,482 $ 156,791 $ 158,831 $ 156,185 $ 144,274 $ 156,791 $ 141,433 Provision for credit losses 9,084 9,141 9,705 9,930 16,157 18,225 29,576 Gross charge-offs Commercial and industrial 4,996 8,178 4,333 5,471 2,149 13,174 4,844 Lease financing 606 1,454 2,831 368 190 2,060 193 Construction real estate 0 0 0 0 0 0 0 Commercial real estate 0 0 5,051 261 2 0 5,321 Residential real estate 16 0 12 60 6 16 71 Home equity 100 86 210 90 122 186 147 Installment 1,120 1,321 1,680 1,510 2,034 2,441 4,270 Credit card 489 474 492 768 532 963 1,326 Total gross charge-offs 7,327 11,513 14,609 8,528 5,035 18,840 16,172 Recoveries Commercial and industrial 290 195 1,779 434 236 485 398 Lease financing 11 29 17 11 1 40 60 Construction real estate 0 0 0 0 0 0 0 Commercial real estate 70 24 19 25 137 94 175 Residential real estate 42 24 23 22 37 66 61 Home equity 74 144 222 240 118 218 198 Installment 716 563 499 421 219 1,279 364 Credit card 80 84 305 91 41 164 92 Total recoveries 1,283 1,063 2,864 1,244 789 2,346 1,348 Total net charge-offs 6,044 10,450 11,745 7,284 4,246 16,494 14,824 Ending allowance for credit losses $ 158,522 $ 155,482 $ 156,791 $ 158,831 $ 156,185 $ 158,522 $ 156,185 NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED) Commercial and industrial 0.49 % 0.85 % 0.27 % 0.54 % 0.21 % 0.67 % 0.25 % Lease financing 0.41 % 0.99 % 1.91 % 0.26 % 0.15 % 0.70 % 0.05 % Construction real estate 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % Commercial real estate (0.01) % 0.00 % 0.49 % 0.02 % (0.01) % 0.00 % 0.25 % Residential real estate (0.01) % (0.01) % 0.00 % 0.01 % (0.01) % (0.01) % 0.00 % Home equity 0.01 % (0.03) % (0.01) % (0.07) % 0.00 % (0.01) % (0.01) % Installment 1.38 % 2.42 % 3.43 % 3.03 % 4.81 % 1.91 % 5.08 % Credit card 2.41 % 2.40 % 1.13 % 4.13 % 2.94 % 2.41 % 3.75 % Total net charge-offs 0.21 % 0.36 % 0.40 % 0.25 % 0.15 % 0.28 % 0.27 % COMPONENTS OF NONACCRUAL LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS Nonaccrual loans Commercial and industrial $ 24,489 $ 7,649 $ 6,641 $ 10,703 $ 17,665 $ 24,489 $ 17,665 Lease financing 6,243 6,487 6,227 11,632 5,374 6,243 5,374 Construction real estate 1,365 0 0 0 0 1,365 0 Commercial real estate 23,905 25,736 32,303 23,608 22,942 23,905 22,942 Residential real estate 16,995 16,044 16,700 14,596 12,715 16,995 12,715 Home equity 3,226 2,920 3,418 4,074 3,295 3,226 3,295 Installment 701 719 684 826 682 701 682 Total nonaccrual loans 76,924 59,555 65,973 65,439 62,673 76,924 62,673 Other real estate owned (OREO) 204 213 64 30 30 204 30 Total nonperforming assets 77,128 59,768 66,037 65,469 62,703 77,128 62,703 Accruing loans past due 90 days or more 714 228 361 463 1,573 714 1,573 Total underperforming assets $ 77,842 $ 59,996 $ 66,398 $ 65,932 $ 64,276 $ 77,842 $ 64,276 Total classified assets $ 214,346 $ 213,351 $ 224,084 $ 206,194 $ 195,277 $ 214,346 $ 195,277 CREDIT QUALITY RATIOS Allowance for credit losses to Nonaccrual loans 206.08 % 261.07 % 237.66 % 242.72 % 249.21 % 206.08 % 249.21 % Total ending loans 1.34 % 1.33 % 1.33 % 1.37 % 1.36 % 1.34 % 1.36 % Nonaccrual loans to total loans 0.65 % 0.51 % 0.56 % 0.57 % 0.54 % 0.65 % 0.54 % Nonperforming assets to Ending loans, plus OREO 0.65 % 0.51 % 0.56 % 0.57 % 0.54 % 0.65 % 0.54 % Total assets 0.41 % 0.32 % 0.36 % 0.36 % 0.35 % 0.41 % 0.35 % Classified assets to total assets 1.15 % 1.16 % 1.21 % 1.14 % 1.07 % 1.15 % 1.07 % FIRST FINANCIAL BANCORP. CAPITAL ADEQUACY (Dollars in thousands, except per share data) (Unaudited) Three Months Ended, Six months ended, June 30, Mar. 31, Dec. 31, Sep. 30, June 30, June 30, June 30, 2025 2025 2024 2024 2024 2025 2024 PER COMMON SHARE Market Price High $ 25.19 $ 29.04 $ 30.34 $ 28.09 $ 23.78 $ 29.04 $ 23.78 Low $ 22.05 $ 24.25 $ 23.98 $ 21.70 $ 20.79 $ 22.05 $ 20.79 Close $ 24.26 $ 24.98 $ 26.88 $ 25.23 $ 22.22 $ 24.26 $ 22.22 Average shares outstanding - basic 94,860,428 94,645,787 94,486,838 94,473,666 94,438,235 94,753,700 94,328,151 Average shares outstanding - diluted 95,741,696 95,524,262 95,487,564 95,479,510 95,470,093 95,633,579 95,327,045 Ending shares outstanding 95,760,617 95,730,353 95,494,840 95,486,317 95,486,010 95,760,617 95,486,010 Total shareholders' equity $ 2,558,155 $ 2,501,235 $ 2,438,041 $ 2,450,438 $ 2,326,439 $ 2,558,155 $ 2,326,439 REGULATORY CAPITAL Preliminary Preliminary Common equity tier 1 capital $ 1,776,038 $ 1,724,134 $ 1,709,422 $ 1,661,759 $ 1,626,345 $ 1,776,038 $ 1,626,345 Common equity tier 1 capital ratio 12.57 % 12.29 % 12.16 % 12.04 % 11.78 % 12.57 % 11.78 % Tier 1 capital $ 1,821,316 $ 1,769,357 $ 1,754,584 $ 1,706,796 $ 1,671,258 $ 1,821,316 $ 1,671,258 Tier 1 ratio 12.89 % 12.61 % 12.48 % 12.37 % 12.11 % 12.89 % 12.11 % Total capital $ 2,116,180 $ 2,090,211 $ 2,057,877 $ 2,012,349 $ 1,997,378 $ 2,116,180 $ 1,997,378 Total capital ratio 14.98 % 14.90 % 14.64 % 14.58 % 14.47 % 14.98 % 14.47 % Total capital in excess of minimum requirement $ 632,563 $ 617,347 $ 581,659 $ 563,273 $ 548,037 $ 632,563 $ 548,037 Total risk-weighted assets $ 14,129,683 $ 14,027,274 $ 14,059,215 $ 13,800,728 $ 13,803,249 $ 14,129,683 $ 13,803,249 Leverage ratio 10.28 % 10.01 % 9.98 % 9.93 % 9.73 % 10.28 % 9.73 % OTHER CAPITAL RATIOS Ending shareholders' equity to ending assets 13.73 % 13.55 % 13.13 % 13.50 % 12.81 % 13.73 % 12.81 % Ending tangible shareholders' equity to ending tangible assets (1) 8.40 % 8.16 % 7.73 % 7.98 % 7.23 % 8.40 % 7.23 % Average shareholders' equity to average assets 13.66 % 13.38 % 13.36 % 13.28 % 12.87 % 13.52 % 12.98 % Average tangible shareholders' equity to average tangible assets (1) 8.26 % 7.94 % 7.87 % 7.64 % 7.15 % 8.10 % 7.20 % REPURCHASE PROGRAM (2) Shares repurchased 0 0 0 0 0 0 0 Average share repurchase price N/A N/A N/A N/A N/A N/A N/A Total cost of shares repurchased N/A N/A N/A N/A N/A N/A N/A (1) Non-GAAP measure. For details on the calculation of these non-GAAP financial measures and a reconciliation to the GAAP financial measure, see the sections titled "Use of Non-GAAP Financial Measures" in this release and "Appendix: Non-GAAP to GAAP Reconciliation" in the accompanying slide presentation. (2) Represents share repurchases as part of publicly announced plans. N/A = Not applicable SOURCE First Financial Bancorp. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

First Financial Bancorp Announces Second Quarter and Year to Date 2025 Financial Results & Quarterly Dividend Increase

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