FIRST FINANCIAL BANCORP /OH/ FFBC
First Financial Bancorp.
First Financial Bancorp., an Ohio corporation (First Financial or the Company), was formed in 1982. First Financial is a mid-sized, regional bank holding company headquartered in Cincinnati, Ohio, which has elected to become a financial holding company. References in this Form 10-K to "we," "us" or "our" refer, as the context requires, to First Financial and its subsidiaries, collectively or to First Financial as the holding company.
First Financial engages in the business of commercial banking and other banking and banking-related activities through its wholly-owned subsidiary, First Financial Bank (the Bank), which was founded in 1863. Effective December 30, 2016, the Bank converted its charter to an Ohio state chartered bank from a nationally chartered bank.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.00B | $1.00B | $903.0M | $585.0M | $483.2M | $525.0M | $607.6M | $540.4M | $333.1M | $305.9M |
| Interest expense | $642.0M | $612.0M | $627.8M | $519.1M | $31.1M | $68.5M | $123.3M | $91.1M | $49.5M | $33.3M |
| Pre-tax income | $321.3M | $268.3M | $318.6M | $241.7M | $240.9M | $184.4M | $242.9M | $214.2M | $116.2M | $130.7M |
| Income tax | $65.7M | $39.5M | $62.7M | $24.1M | $35.8M | $28.6M | $44.8M | $41.6M | $19.4M | $42.2M |
| Net income | $255.6K | $228.8K | $255.9K | $217.6K | $205.2K | $155.8M | $198.1M | $172.6M | $96.8M | $88.5M |
| EPS, basic | 2.68 | 2.42 | 2.72 | 2.33 | 2.16 | 1.60 | 2.01 | 1.95 | 1.57 | 1.45 |
| EPS, diluted | 2.66 | 2.40 | 2.69 | 2.30 | 2.14 | 1.59 | 2.00 | 1.93 | 1.56 | 1.43 |
| Shares, diluted (wtd. avg.) | $96.2M | $95.4M | $95.1M | $94.6M | $95.9M | $98.1M | $98.9M | $89.6M | $62.2M | $62.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $178.6M | $174.3M | $213.1M | $207.5M | $220.0M | $231.1M | $200.7M | $236.2M | $150.7M | $121.6M |
| Property, plant and equipment | $204.8M | $198.0M | $194.7M | $189.1M | $193.0M | $207.2M | $214.5M | $215.7M | $125.0M | $131.6M |
| Goodwill | $1.10B | $1.01B | $1.01B | $1.00B | $1.00B | $937.8M | $937.8M | $880.3M | $204.1M | $204.1M |
| Other intangibles | $118.8M | $79.3M | $83.9M | — | — | — | — | $40.8M | $3.8M | $6.5M |
| Total assets | $21.13B | $18.57B | $17.53B | $17.00B | $16.33B | $15.97B | $14.51B | $13.99B | $8.90B | $8.44B |
| Short-term debt | $675.3M | $755.5M | $937.8M | $1.29B | $296.2M | $166.6M | $1.32B | $1.04B | $814.6M | $807.9M |
| Long-term debt | $514.1M | $347.5M | $344.1M | $346.7M | $409.8M | $776.2M | $414.4M | $570.7M | $119.7M | $119.6M |
| Total liabilities | $18.36B | $16.13B | $15.26B | $14.96B | $14.07B | $13.69B | $12.26B | $11.91B | $7.97B | $7.57B |
| Retained earnings | $1.44B | $1.28B | $1.14B | $968.2M | $837.5M | $720.4M | $711.2M | $600.0M | $491.8M | $437.2M |
| Total equity | $2.77B | $2.44B | $2.27B | $2.04B | $2.26B | $2.28B | $2.25B | $2.08B | $930.7M | $865.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $337.9M | $262.2M | $487.0M | $200.8M | $388.2M | $108.4M | $186.3M | $260.3M | $123.5M | $142.6M |
| Depreciation and amortisation | $14.0M | $14.4M | $13.3M | $12.9M | $14.1M | $15.4M | $16.1M | — | — | — |
| Stock-based compensation | $15.6M | $15.7M | $14.9M | $13.4M | $9.6M | $7.7M | $8.0M | $6.2M | $5.4M | $5.4M |
| Capital expenditure | $20.8M | $21.1M | $24.1M | $13.8M | $15.3M | $16.5M | $20.9M | $18.2M | $6.5M | $9.7M |
| Investing cash flow | -$546.7M | -$1.00B | -$701.3M | -$883.1M | -$510.0M | -$1.20B | -$252.4M | -$204.8M | -$429.5M | -$313.3M |
| Financing cash flow | $213.2M | $699.1M | $219.9M | $669.7M | $110.8M | $1.13B | $30.6M | $30.0M | $335.0M | $177.5M |
| Dividends paid | $94.6M | $89.5M | $87.2M | $86.6M | $87.3M | $89.7M | $89.1M | $79.7M | $41.2M | $39.1M |
| Buybacks | — | — | $0 | $0 | $108.1M | $16.7M | $66.2M | $0 | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-043973.
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| JPM | JPMORGAN CHASE & CO | $953.33B | 17.9x | 2.8% |
| BAC | BANK OF AMERICA CORP /DE/ | $438.31B | 16.5x | 6.8% |
| WFC | WELLS FARGO & COMPANY/MN | $272.07B | 14.4x | -3.8% |
| C | CITIGROUP INC | $240.92B | 19.7x | 5.6% |
| COF | CAPITAL ONE FINANCIAL CORP | $136.66B | 54.5x | 36.3% |
| USB | US BANCORP \DE\ | $98.73B | 13.7x | 4.4% |
| PNC | PNC FINANCIAL SERVICES GROUP, INC. | $97.98B | 14.8x | 7.2% |
| TFC | TRUIST FINANCIAL CORP | $63.10B | 13.5x | -2.1% |