First Financial Bancorp. (FFBC) 10-Year Financial Performance & Capital Metrics

FFBC • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingMidwest Community Banks

AboutFirst 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 accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers. It also provides real estate loans secured by residential property, such as one to four family residential housing units or commercial property comprising owner-occupied and/or investor income producing real estate consisting of apartments, shopping centers, or office buildings; commercial and industrial loans for various purposes, including inventory, receivables, and equipment; consumer loans comprising new and used vehicle loans, second mortgages on residential real estate, and unsecured loans; and home equity lines of credit. In addition, the company offers commercial financing to the insurance industry, registered investment advisors, certified public accountants, indirect auto finance companies, and restaurant franchisees. Further, it provides a range of trust and wealth management services; and lease and equipment financing services. As of December 31, 2021, the company operated 139 full service banking centers, 29 of which are leased facilities. It operates 62 banking centers in Ohio, three banking centers in Illinois, 62 banking centers in Indiana, and 12 banking centers in Kentucky. First Financial Bancorp. was founded in 1863 and is headquartered in Cincinnati, Ohio.Show more

Net Interest Income $612M -2.5%
Total Revenue $1.23B +9.9%
Net Income $229M -10.6%
Return on Equity 9.72% -18.1%
Net Interest Margin 3.3% -8.0%
Efficiency Ratio 42.39% -1.2%
ROA 1.27% -14.4%
Equity / Assets 13.13% +1.5%
Book Value per Share 25.55 +7.1%
Tangible BV/Share 14.16 +14.3%
Debt/Equity 0.45 -20.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 42.4% efficiency ratio
✓Well capitalized: 13.1% equity/assets
✓Healthy dividend yield of 3.5%
✓Trading at only 1.0x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y14.68%

5Y10.65%

3Y23.25%

TTM-

Profit (Net Income) CAGR

10Y13.41%

5Y2.93%

3Y3.71%

TTM10.3%

EPS CAGR

10Y8.21%

5Y3.71%

3Y3.9%

TTM16.38%

ROCE

10Y Avg10.24%

5Y Avg8.76%

3Y Avg9.64%

Latest7.99%

Peer Comparison

Midwest Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TFSLTFS Financial Corporation	3.97B	14.13	44.16	4.37%	11.49%	4.41%	1.15%	2.57
ASBAssociated Banc-Corp	4.43B	26.70	37.08	4.42%	5.85%	3.62%	12.08%	0.69
ASBAAssociated Banc-Corp	4.11B	24.78	30.98	-6.56%	12.92%	3.77%	13.02%	0.17
BANFBancFirst Corporation	3.81B	114.30	17.75	12.28%	23.81%	13.33%	5.89%	0.05
SYBTStock Yards Bancorp, Inc.	2.03B	68.83	17.69	15.84%	22.86%	12.99%	6.56%	0.53
PRKPark National Corporation	2.63B	163.76	17.57	14.4%	23.46%	13.22%	6.44%	0.24
NICNicolet Bankshares, Inc.	1.97B	133.08	16.53	24.6%	23.88%	11.4%	5.95%	0.14
LKFNLakeland Financial Corporation	1.52B	59.47	16.38	9.38%	21.74%	13.06%	6.18%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	246.5M	272.67M	283.55M	449.24M	484.25M	456.51M	452.12M	519.14M	627.77M	612.01M
NII Growth %	0.08%	0.11%	0.04%	0.58%	0.08%	-0.06%	-0.01%	0.15%	0.21%	-0.03%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	269.76M	305.95M	333.07M	540.38M	607.58M	524.96M	483.22M	585.01M	903M	1B
Interest Expense	23.26M	33.28M	49.53M	91.15M	123.32M	68.45M	31.1M	65.86M	275.23M	390.08M
Loan Loss Provision	9.64M	10.14M	3.58M	14.86M	30.43M	70.56M	-18.12M	11.71M	43.11M	47.66M
Non-Interest Income+	75.2M	69.6M	76.14M	103.38M	131.37M	189.12M	171.51M	189.64M	212.42M	223.57M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	344.96M	375.55M	409.21M	643.76M	738.95M	714.09M	654.72M	774.65M	1.12B	1.23B
Revenue Growth %	0.11%	0.09%	0.09%	0.57%	0.15%	-0.03%	-0.08%	0.18%	0.44%	0.1%
Non-Interest Expense	201.13M	201.4M	239.94M	323.54M	342.33M	390.66M	400.81M	455.35M	478.49M	519.6M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	110.93M	130.73M	116.16M	214.22M	242.86M	184.41M	240.93M	241.72M	318.6M	268.32M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.17%	0.18%	-0.11%	0.84%	0.13%	-0.24%	0.31%	0%	0.32%	-0.16%
Pretax Income+	110.93M	130.73M	116.16M	214.22M	242.86M	184.41M	240.93M	241.72M	318.6M	268.32M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	35.87M	42.2M	19.38M	41.63M	44.79M	28.6M	35.77M	24.11M	62.73M	39.49M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	75.06M	88.53M	96.79M	172.59M	198.07M	155.81M	205.16M	217.61M	255.86M	228.83M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.15%	0.18%	0.09%	0.78%	0.15%	-0.21%	0.32%	0.06%	0.18%	-0.11%
Net Income (Continuing)	75.06M	88.53M	96.79M	172.59M	198.07M	155.81M	205.16M	217.61M	255.86M	228.83M
EPS (Diluted)+	1.21	1.43	1.56	1.93	2.00	1.59	2.14	2.30	2.69	2.40
EPS Growth %	0.11%	0.18%	0.09%	0.24%	0.04%	-0.2%	0.35%	0.07%	0.17%	-0.11%
EPS (Basic)	1.23	1.45	1.57	1.95	2.01	1.60	2.16	2.33	2.72	2.42
Diluted Shares Outstanding	61.85M	61.98M	62.17M	89.61M	98.85M	98.09M	95.9M	94.59M	95.1M	95.41M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	148.57M	204.05M	184.62M	273.96M	257.64M	251.36M	434.84M	595.68M	1.01B	904.49M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	7.23B	7.47B	7.94B	12B	12.19B	13.38B	13.49B	13.58B	13.57B	14.41B
Investments Growth %	0.13%	0.03%	0.06%	0.51%	0.02%	0.1%	0.01%	0.01%	-0%	0.06%
Long-Term Investments	6.04B	6.43B	6.59B	9.22B	9.34B	9.96B	9.28B	10.17B	10.55B	11.95B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	204.08M	204.08M	204.08M	880.25M	937.77M	937.77M	1B	1B	1.01B	1.01B
Intangible Assets	7.78M	6.54M	3.79M	40.8M	76.2M	64.55M	104.37M	93.92M	83.95M	79.29M
PP&E (Net)	136.6M	131.58M	125.04M	215.65M	214.51M	207.21M	253.85M	280.82M	347.95M	407.08M
Other Assets	323.42M	324.86M	352.17M	479.71M	747.85M	1.06B	940.31M	1.22B	1.06B	1.18B
Total Current Assets	1.43B	1.34B	1.62B	3.15B	3.2B	3.75B	4.75B	4.24B	4.49B	3.95B
Total Non-Current Assets	6.71B	7.1B	7.27B	10.84B	11.31B	12.22B	11.58B	12.77B	13.04B	14.62B
Total Assets+	8.15B	8.44B	8.9B	13.99B	14.51B	15.97B	16.33B	17B	17.53B	18.57B
Asset Growth %	0.13%	0.04%	0.05%	0.57%	0.04%	0.1%	0.02%	0.04%	0.03%	0.06%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	100.45M	119.45M	136.99M	156.59M	323.13M	516.26M	492.21M	626.94M	0	0
Total Debt+	1.06B	927.5M	934.22M	1.61B	1.73B	507.81M	706.03M	1.63B	1.28B	1.1B
Net Debt	909.39M	723.45M	749.6M	1.34B	1.47B	256.45M	271.19M	1.04B	275.91M	198.47M
Long-Term Debt	119.54M	119.59M	119.65M	570.74M	413.16M	339.36M	385.02M	344.97M	342.5M	345.99M
Short-Term Debt	938.42M	807.91M	814.57M	1.04B	1.32B	166.59M	319.23M	1.29B	937.81M	755.45M
Other Liabilities	0	0	0	0	0	434.98M	0	0	622.2M	700.12M
Total Current Liabilities	7.22B	7.45B	7.85B	11.34B	11.85B	12.91B	13.68B	14.62B	14.3B	15.08B
Total Non-Current Liabilities	119.54M	119.59M	119.65M	570.74M	414.38M	776.2M	386.8M	346.67M	966.32M	1.05B
Total Liabilities	7.34B	7.57B	7.97B	11.91B	12.26B	13.69B	14.07B	14.96B	15.26B	16.13B
Total Equity+	809.38M	865.22M	930.66M	2.08B	2.25B	2.28B	2.26B	2.04B	2.27B	2.44B
Equity Growth %	0.03%	0.07%	0.08%	1.23%	0.08%	0.02%	-0.01%	-0.1%	0.11%	0.07%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.11%	0.11%	0.11%	0.09%	0.07%	0.09%	0.1%	0.12%	0.1%
Book Value per Share	13.09	13.96	14.97	23.19	22.74	23.26	23.56	21.58	23.85	25.55
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	571.15M	570.38M	573.11M	1.63B	1.64B	1.64B	1.64B	1.63B	1.64B	1.64B
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	388.24M	437.19M	491.85M	600.01M	711.25M	720.43M	837.47M	968.24M	1.14B	1.28B
Accumulated OCI	-30.58M	-28.44M	-20.39M	-44.41M	13.32M	48.66M	-433K	-358.66M	-309.82M	-289.8M
Treasury Stock	-119.44M	-113.9M	-113.9M	-110.61M	-117.64M	-125.97M	-218.46M	-202.81M	-197.9M	-190.54M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	91.57M	142.6M	123.52M	260.35M	186.33M	108.36M	388.16M	200.85M	486.97M	262.16M
Operating CF Growth %	0.62%	0.56%	-0.13%	1.11%	-0.28%	-0.42%	2.58%	-0.48%	1.42%	-0.46%
Net Income	75.06M	88.53M	96.79M	172.59M	198.07M	155.81M	205.16M	217.61M	255.86M	228.83M
Depreciation & Amortization	13.27M	13.04M	12.64M	24.17M	28.14M	41.23M	39.56M	38.81M	37.8M	38.42M
Deferred Taxes	4.19M	346K	-4.49M	6.27M	12.59M	-8.38M	12.09M	-3.5M	13.37M	21.2M
Other Non-Cash Items	3.71M	24.73M	12.44M	30.19M	33.58M	41.84M	3.15M	9.13M	37.37M	62.75M
Working Capital Changes	-8.71M	10.61M	696K	20.9M	-94.02M	-129.82M	118.56M	-74.58M	127.68M	-104.74M
Cash from Investing+	-918.85M	-313.35M	-429.45M	-204.78M	-252.42M	-1.2B	-510.03M	-883.11M	-701.26M	-1B
Purchase of Investments	-551.42M	-412.42M	-748.89M	-897.53M	-846.86M	-1.61B	-2.43B	-682.48M	-113.04M	-1.03B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-305.59M	0	0	23.7M	-51.55M	0	-109.02M	0	-3.54M	-96.89M
Other Investing	-385.6M	-416.21M	-210.58M	-28.54M	-427.31M	-674.35M	453.35M	-1.18B	-1.13B	-757.38M
Cash from Financing+	832M	177.5M	334.98M	30.01M	30.57M	1.13B	110.85M	669.73M	219.85M	699.08M
Dividends Paid	-39.07M	-39.13M	-41.18M	-79.66M	-89.1M	-89.69M	-87.32M	-86.61M	-87.16M	-89.54M
Share Repurchases	-4.5M	0	0	0	-66.22M	-16.69M	-108.08M	0	0	0
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K
Other Financing	524.77M	347.23M	369.6M	-18.41M	70.04M	2.02B	640.01M	-170.6M	659.67M	968.34M
Net Change in Cash+	4.72M	6.76M	29.05M	85.57M	-35.53M	30.36M	-11.02M	-12.53M	5.56M	-38.8M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	110.12M	114.84M	121.6M	150.65M	236.22M	200.69M	231.05M	220.03M	207.5M	213.06M
Cash at End	114.84M	121.6M	150.65M	236.22M	200.69M	231.05M	220.03M	207.5M	213.06M	174.26M
Interest Paid	20.96M	33.23M	49.47M	84.13M	121.78M	75.88M	32.84M	59.51M	234.93M	398.13M
Income Taxes Paid	31.19M	37.57M	38.33M	16M	27.5M	32.58M	17.69M	5.7M	10.08M	27.52M
Free Cash Flow+	84.1M	132.87M	116.99M	242.12M	165.4M	91.9M	372.82M	187.07M	462.83M	241.08M
FCF Growth %	0.83%	0.58%	-0.12%	1.07%	-0.32%	-0.44%	3.06%	-0.5%	1.47%	-0.48%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.42%	10.57%	10.78%	11.47%	9.16%	6.88%	9.04%	10.12%	11.87%	9.72%
Return on Assets (ROA)	0.98%	1.07%	1.12%	1.51%	1.39%	1.02%	1.27%	1.31%	1.48%	1.27%
Net Interest Margin	3.03%	3.23%	3.19%	3.21%	3.34%	2.86%	2.77%	3.05%	3.58%	3.3%
Efficiency Ratio	58.31%	53.63%	58.63%	50.26%	46.33%	54.71%	61.22%	58.78%	42.9%	42.39%
Equity / Assets	9.93%	10.25%	10.46%	14.86%	15.49%	14.29%	13.83%	12.01%	12.94%	13.13%
Book Value / Share	13.09	13.96	14.97	23.19	22.74	23.26	23.56	21.58	23.85	25.55
NII Growth	7.82%	10.62%	3.99%	58.44%	7.8%	-5.73%	-0.96%	14.82%	20.92%	-2.51%
Dividend Payout	52.05%	44.2%	42.55%	46.15%	44.98%	57.56%	42.56%	39.8%	34.06%	39.13%

Frequently Asked Questions

Valuation & Price

First Financial Bancorp. (FFBC) has a price-to-earnings (P/E) ratio of 11.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

First Financial Bancorp. (FFBC) grew revenue by 9.9% over the past year. This is steady growth.

Yes, First Financial Bancorp. (FFBC) is profitable, generating $243.4M in net income for fiscal year 2024 (18.7% net margin).

Dividend & Returns

Yes, First Financial Bancorp. (FFBC) pays a dividend with a yield of 3.50%. This makes it attractive for income-focused investors.

First Financial Bancorp. (FFBC) has a return on equity (ROE) of 9.7%. This is below average, suggesting room for improvement.

Industry Metrics

First Financial Bancorp. (FFBC) has a net interest margin (NIM) of 3.3%. This indicates healthy earnings from lending activities.

First Financial Bancorp. (FFBC) has an efficiency ratio of 42.4%. This is excellent, indicating strong cost control.

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