The bank's rapid asset growth to $22.8 billion has significantly reduced liquidity, with cash and cash equivalents declining from $1.0 billion in 2023Q4 to $170.6 million in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash & Short Term Investments | 11.96B | 4.15B | 3.36B | 4.03B | 4.01B | 4.64B | 3.68B | 3.11B | 3.05B | 1.53B | 1.24B | 1.34B | 973.22M | 1.06B | 1.19B | 1.97B | 282.93M | 606.17M | 100.94M | 106.22M | 119.41M | 163.28M | 152.93M | 188.63M | 186.31M | 224.8M | 185.31M | 234.7M | 167.1M | 145.8M | 115.9M |
| Cash & Due from Banks | 170.64M | 178.55M | 904.49M | 1.01B | 595.68M | 434.84M | 251.36M | 257.64M | 273.96M | 184.62M | 204.05M | 148.57M | 132.75M | 143.45M | 158.84M | 525.05M | 282.93M | 606.17M | 100.94M | 106.22M | 119.41M | 163.28M | 152.93M | 188.63M | 186.31M | 224.8M | 185.31M | 234.7M | 167.1M | 145.8M | 115.9M |
| Short Term Investments | 0 | 3.97B | 2.46B | 3.02B | 3.41B | 4.21B | 3.42B | 2.85B | 2.78B | 1.35B | 1.04B | 1.19B | 840.47M | 913.6M | 1.03B | 1.44B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 19.5B | 17.4B | 14.41B | 13.57B | 13.58B | 13.49B | 13.38B | 12.19B | 12B | 7.94B | 7.47B | 7.23B | 6.42B | 5.71B | 5.72B | 5.47B | 5.27B | 5.36B | 3.34B | 2.92B | 2.83B | 3.19B | 3.43B | 3.57B | 3.33B | 3.44B | 3.56B | 3.52B | 3.21B | 2.34B | 2.05B |
| Investments Growth % | 62.21% | 20.73% | 6.18% | -0.06% | 0.69% | 0.77% | 9.79% | 1.55% | 51.21% | 6.21% | 3.33% | 12.68% | 12.47% | -0.31% | 4.71% | 3.77% | -1.63% | 60.17% | 14.59% | 3.2% | -11.44% | -6.94% | -3.76% | 7.16% | -3.34% | -3.27% | 1.12% | 9.71% | 37.04% | 14.33% | 7.79% |
| Long-Term Investments | 56.07B | 13.42B | 11.95B | 10.55B | 10.17B | 9.28B | 9.96B | 9.34B | 9.22B | 6.59B | 6.43B | 6.04B | 5.58B | 4.79B | 4.69B | 4.03B | 5.27B | 5.36B | 3.34B | 2.92B | 2.83B | 3.19B | 3.43B | 3.57B | 3.33B | 3.44B | 3.56B | 3.52B | 3.21B | 2.34B | 2.05B |
| Accounts Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 283.39M | 244.37M | 262.35M | 300.39M | 241.27M | 140.84M | 130.07M | 138.99M | 127.55M | 112.27M | 101.63M | 91.54M | 87.86M | 87.99M | 73.8M | 52M | 40.6M | 41M |
| Goodwill & Intangibles | 1.25B | 1.22B | 1.09B | 1.09B | 1.1B | 1.11B | 1B | 1.01B | 921.06M | 207.87M | 210.63M | 211.87M | 145.85M | 100.97M | 102.7M | 105.89M | 57.42M | 59.37M | 29.26M | 130.07M | 138.99M | 127.55M | 112.27M | 107.86M | 91.54M | 87.86M | 87.99M | 73.8M | 52M | 40.6M | 0 |
| Goodwill | 1.1B | 1.1B | 1.01B | 1.01B | 1B | 1B | 937.77M | 937.77M | 880.25M | 204.08M | 204.08M | 204.08M | 137.74M | 95.05M | 95.05M | 95.05M | 51.82M | 51.91M | 28.26M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 145.93M | 118.83M | 79.29M | 83.95M | 93.92M | 104.37M | 64.55M | 76.2M | 40.8M | 3.79M | 6.54M | 7.78M | 8.11M | 5.92M | 7.65M | 10.84M | 5.6M | 7.46M | 1M | 130.07M | 138.99M | 127.55M | 112.27M | 107.86M | 91.54M | 87.86M | 87.99M | 73.8M | 52M | 40.6M | 0 |
| PP&E (Net) | 448.44M | 204.76M | 407.08M | 347.95M | 280.82M | 253.85M | 207.21M | 214.51M | 215.65M | 125.04M | 131.58M | 136.6M | 141.38M | 137.11M | 146.72M | 138.1M | 118.48M | 107.35M | 84.11M | 78.99M | 79.61M | 73.03M | 66.22M | 59.05M | 56.35M | 60.58M | 58.47M | 59M | 58M | 47M | 42.6M |
| Other Assets | 1.4B | 1.53B | 1.18B | 1.06B | 1.22B | 940.31M | 1.06B | 747.85M | 479.71M | 352.17M | 324.86M | 323.42M | 301.36M | 45.09M | 119.61M | 173.01M | 222.65M | 287.61M | 61K | 106.99M | 102M | 98M | 121.12M | 607K | 32.4M | 3.38M | 4.73M | 13.7M | 11.7M | 21.9M | 15M |
| Total Current Assets | 170.64M | 4.75B | 3.95B | 4.49B | 4.24B | 4.75B | 3.75B | 3.2B | 3.15B | 1.62B | 1.34B | 1.43B | 1.05B | 1.34B | 1.44B | 2.23B | 583.32M | 847.44M | 241.77M | 236.29M | 258.39M | 290.83M | 265.2M | 296.48M | 277.85M | 312.66M | 273.3M | 308.5M | 219.1M | 186.4M | 156.9M |
| Total Non-Current Assets | 22.59B | 16.38B | 14.62B | 13.04B | 12.77B | 11.58B | 12.22B | 11.31B | 10.84B | 7.27B | 7.1B | 6.71B | 6.17B | 5.08B | 5.06B | 4.44B | 5.67B | 5.81B | 3.46B | 3.13B | 3.04B | 3.4B | 3.65B | 3.66B | 3.45B | 3.54B | 3.66B | 3.63B | 3.32B | 2.45B | 2.1B |
| Total Assets | 22.76B | 21.13B | 18.57B | 17.53B | 17B | 16.33B | 15.97B | 14.51B | 13.99B | 8.9B | 8.44B | 8.15B | 7.22B | 6.42B | 6.5B | 6.67B | 6.25B | 6.68B | 3.7B | 3.37B | 3.3B | 3.69B | 3.92B | 3.96B | 3.73B | 3.85B | 3.93B | 3.94B | 3.54B | 2.64B | 2.26B |
| Asset Growth % | 41.94% | 13.78% | 5.92% | 3.11% | 4.13% | 2.23% | 10.07% | 3.75% | 57.21% | 5.44% | 3.57% | 12.88% | 12.48% | -1.23% | -2.61% | 6.74% | -6.45% | 80.61% | 9.79% | 2.05% | -10.55% | -5.77% | -1% | 6.06% | -3.24% | -1.98% | -0.21% | 11.35% | 34.25% | 16.55% | 7.53% |
| Return on Assets (ROA) | 1.38% | 1.29% | 1.27% | 1.48% | 1.31% | 1.27% | 1.02% | 1.39% | 1.51% | 1.12% | 1.07% | 0.98% | 0.95% | 0.75% | 1.02% | 1.03% | 0.92% | 4.26% | 0.65% | 1.07% | 0.61% | 1% | 1.04% | 0.99% | 1.27% | 1.11% | 1.48% | 1.35% | 1.65% | 1.91% | 1.55% |
| Accounts Payable | 0 | 0 | 0 | 0 | 626.94M | 492.21M | 516.26M | 323.13M | 156.59M | 136.99M | 119.45M | 100.45M | 68.37M | 88.02M | 131.01M | 140.47M | 0 | 0 | 43.98M | 33.74M | 26.77M | 36.27M | 32.7M | 32.03M | 34.68M | 29.97M | 34.17M | 33M | 32.7M | 26.3M | 23M |
| Total Debt | 930.18M | 1.19B | 1.1B | 1.28B | 1.63B | 706.03M | 507.81M | 1.73B | 1.61B | 934.22M | 927.5M | 1.06B | 709.63M | 809.53M | 699.77M | 175.97M | 209.34M | 462.77M | 466.32M | 164.81M | 191.39M | 429.22M | 509.48M | 611.89M | 395.23M | 353.8M | 351.78M | 705.7M | 275.9M | 93.4M | 100.3M |
| Net Debt | 759.53M | 1.01B | 198.47M | 275.91M | 1.04B | 271.19M | 256.45M | 1.47B | 1.34B | 749.6M | 723.45M | 909.39M | 576.88M | 666.08M | 540.93M | -349.08M | -73.59M | -143.4M | 365.38M | 58.58M | 71.99M | 265.94M | 356.55M | 423.26M | 208.92M | 129M | 166.48M | 471M | 108.8M | -52.4M | -15.6M |
| Long-Term Debt | 380.18M | 514.05M | 345.99M | 342.5M | 344.97M | 385.02M | 339.36M | 413.16M | 570.74M | 119.65M | 119.59M | 119.54M | 23.24M | 8.28M | 10.2M | 11.54M | 149.5M | 425.34M | 168.78M | 66.52M | 94.69M | 317.58M | 361.29M | 352.98M | 300.05M | 260.35M | 205.22M | 161.8M | 120.8M | 41.1M | 6.5M |
| Short-Term Debt | 550M | 675M | 755.45M | 937.81M | 1.29B | 319.23M | 166.59M | 1.32B | 1.04B | 814.57M | 807.91M | 938.42M | 686.39M | 801.25M | 689.57M | 164.43M | 59.84M | 37.43M | 297.53M | 98.29M | 96.7M | 111.63M | 148.19M | 258.91M | 95.18M | 93.45M | 146.57M | 543.9M | 155.1M | 52.3M | 93.8M |
| Other Liabilities | 18.89B | 749.27M | 700.12M | 622.2M | 0 | 0 | 434.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -140.47M | 0 | 0 | 13.02M | 0 | 0 | 0 | 100.22M | 0 | 0 | 1.39M | 0 | -161.7M | -100K | -100K | -100K |
| Total Current Liabilities | 550M | 17.1B | 15.08B | 14.3B | 14.62B | 13.68B | 12.91B | 11.85B | 11.34B | 7.85B | 7.45B | 7.22B | 6.41B | 5.73B | 5.78B | 6.09B | 5.4B | 5.58B | 3.17B | 3.03B | 2.92B | 3.07B | 3.09B | 3.24B | 3.05B | 3.21B | 3.33B | 3.57B | 3.06B | 2.31B | 2B |
| Total Non-Current Liabilities | 19.27B | 1.26B | 1.05B | 966.32M | 346.67M | 386.8M | 776.2M | 414.38M | 570.74M | 119.65M | 119.59M | 119.54M | 23.24M | 8.28M | 10.2M | -128.93M | 149.5M | 425.34M | 181.8M | 66.52M | 94.69M | 317.58M | 461.51M | 352.98M | 300.05M | 261.73M | 205.22M | 100K | 120.7M | 41M | 6.4M |
| Total Liabilities | 19.82B | 18.36B | 16.13B | 15.26B | 14.96B | 14.07B | 13.69B | 12.26B | 11.91B | 7.97B | 7.57B | 7.34B | 6.43B | 5.74B | 5.79B | 5.96B | 5.55B | 6.01B | 3.35B | 3.09B | 3.02B | 3.39B | 3.55B | 3.59B | 3.35B | 3.47B | 3.54B | 3.57B | 3.18B | 2.35B | 2B |
| Total Equity | 2.94B | 2.77B | 2.44B | 2.27B | 2.04B | 2.26B | 2.28B | 2.25B | 2.08B | 930.66M | 865.22M | 809.38M | 784.08M | 682.16M | 710.42M | 712.22M | 697.39M | 649.96M | 348.33M | 276.58M | 285.48M | 299.88M | 371.45M | 366.48M | 377.6M | 384.54M | 395.13M | 372.5M | 358.3M | 286.3M | 258.5M |
| Equity Growth % | 48.51% | 13.58% | 7.5% | 11.1% | -9.63% | -1.01% | 1.53% | 8.15% | 123.31% | 7.56% | 6.9% | 3.23% | 14.94% | -3.98% | -0.25% | 2.13% | 7.3% | 86.59% | 25.94% | -3.12% | -4.8% | -19.27% | 1.36% | -2.94% | -1.8% | -2.68% | 6.08% | 3.96% | 25.15% | 10.75% | 10.38% |
| Equity / Assets (Capital Ratio) | 12.92% | 13.11% | 13.13% | 12.94% | 12.01% | 13.83% | 14.29% | 15.49% | 14.86% | 10.46% | 10.25% | 9.93% | 10.86% | 10.63% | 10.93% | 10.68% | 11.16% | 9.73% | 9.42% | 8.21% | 8.65% | 8.13% | 9.48% | 9.26% | 10.12% | 9.98% | 10.05% | 9.45% | 10.12% | 10.86% | 11.43% |
| Return on Equity (ROE) | 10.23% | 9.82% | 9.72% | 11.87% | 10.12% | 9.04% | 6.88% | 9.16% | 11.47% | 10.78% | 10.57% | 9.42% | 8.87% | 6.94% | 9.46% | 9.47% | 8.8% | 44.34% | 7.35% | 12.7% | 7.27% | 11.3% | 11.14% | 10.19% | 12.66% | 11.11% | 15.17% | 13.77% | 15.82% | 17.18% | 13.76% |
| Book Value per Share | 28.11 | 28.92 | 25.55 | 23.85 | 21.58 | 23.56 | 23.26 | 22.74 | 23.19 | 14.97 | 13.96 | 13.09 | 13.20 | 11.75 | 12.07 | 12.13 | 12.03 | 14.27 | 9.29 | 7.19 | 7.22 | 6.95 | 8.47 | 8.25 | 8.21 | 8.10 | 8.09 | 7.55 | 7.23 | 5.83 | 6.61 |
| Tangible BV per Share | 16.20 | 16.20 | 14.16 | 12.39 | 10.00 | 12.03 | 13.05 | 12.48 | 12.91 | 11.63 | 10.56 | 9.66 | 10.75 | 10.01 | 10.32 | 10.33 | 11.04 | 12.96 | 8.51 | 3.81 | 3.70 | 3.99 | 5.91 | 5.82 | 6.22 | 6.25 | 6.29 | 6.05 | 6.18 | 5.00 | 6.61 |
| Common Stock | 1.79B | 1.65B | 1.64B | 1.64B | 1.63B | 1.64B | 1.64B | 1.64B | 1.63B | 573.11M | 570.38M | 571.15M | 574.64M | 577.08M | 579.29M | 579.87M | 0 | 0 | 0 | 0 | 0 | 394.99M | 395.52M | 395.75M | 396.25M | 396.63M | 374.34M | 373.4M | 306.7M | 0 | 0 |
| Additional Paid-in Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 579.87M | 580.1M | 490.53M | 394.17M | 391.96M | 392.74M | 392.61M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 1.49B | 1.44B | 1.28B | 1.14B | 968.24M | 837.47M | 720.43M | 711.25M | 600.01M | 491.85M | 437.19M | 388.24M | 352.89M | 324.19M | 330M | 331.35M | 310.27M | 276.12M | 76.34M | 82.09M | 71.32M | 75.36M | 65.09M | 50.33M | 39.01M | 18.24M | 36.23M | 5.9M | 50.2M | 52M | 93.4M |
| Accumulated OCI | -217.43M | -189.94M | -289.8M | -309.82M | -358.66M | -433K | 48.66M | 13.32M | -44.41M | -20.39M | -28.44M | -30.58M | -21.41M | -31.28M | -18.68M | -601.36M | -12.04M | -10.49M | -11.9M | -7.13M | -13.38M | -7.88M | -6.2M | -1.05M | 4.17M | 2.79M | 1.09M | -6.8M | 4.5M | 2.1M | 1.2M |
| Treasury Stock | -117.19M | -125.75M | -190.54M | -197.9M | -202.81M | -218.46M | -125.97M | -117.64M | -110.61M | -113.9M | -113.9M | -119.44M | -122.05M | -187.83M | -180.19M | -177.51M | -180.93M | -185.4M | -188.29M | -190.34M | -165.2M | -160.21M | -82.97M | -78.54M | -61.82M | -33.12M | -16.52M | 0 | -3.1M | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 79.19M | 78.02M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Specialized Lending Credit Concentration
As reported in recent financial statements, FFBC's total assets surged to $22.8 billion in 2026Q1, reflecting a significant expansion from the $17.5 billion recorded in 2023Q4, which suggests an aggressive growth strategy that may be testing the bank's internal capital generation capabilities over the long term.
The rapid growth in the asset base appears to be driven by a combination of organic expansion and strategic acquisitions, which warrants close monitoring of asset quality. Investors should consider whether this pace of balance sheet expansion is sustainable without diluting the bank's core capital ratios or compromising underwriting standards.
Based on the provided quarterly data, the equity-to-assets ratio has remained relatively tight at 0.13 as of 2026Q1, indicating that the bank's rapid asset growth is consuming capital at a rate that leaves little room for unexpected credit deterioration or significant balance sheet volatility.
While the current capital position appears adequate for a regional institution, the lack of significant improvement in the equity-to-assets ratio despite earnings retention suggests that the bank is deploying capital as quickly as it is generated. This capital-light approach may increase the bank's vulnerability to sudden economic shocks in its specialized lending verticals.
According to recent SEC filings, cash and cash equivalents dropped to $170.6 million in 2026Q1 from $1.0 billion in 2023Q4, a trend that suggests the bank is aggressively deploying liquid assets into higher-yielding securities or loan originations to combat margin compression.
This significant reduction in cash liquidity may indicate a shift toward a more fully invested balance sheet, which could limit the bank's flexibility in a liquidity-constrained environment. Analysts should monitor whether this reliance on securities and loans for liquidity creates duration risk if interest rates remain higher for longer.
Based on the bank's reported figures, the investment securities portfolio has ballooned to $19.5 billion in 2026Q1, representing the vast majority of total assets and signaling a potential duration mismatch that could expose the bank to significant unrealized losses if market interest rates continue to fluctuate.
The heavy concentration in investment securities suggests that the bank's balance sheet is highly sensitive to interest rate movements, potentially offsetting the benefits of its specialty finance revenue streams. This concentration warrants further investigation into the duration and credit quality of the underlying securities to assess the true risk to tangible book value.
Quick answers to the most common questions about buying FFBC stock.
As of 2025, First Financial Bancorp. (FFBC) had total assets of $21.13B including $4.75B in current assets.
First Financial Bancorp. (FFBC) carries total debt of $1.19B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
First Financial Bancorp. (FFBC) has total shareholders' equity (book value) of $2.77B ($28.92 book value per share). Book value represents the net worth of the company belonging to common stock holders.
First Financial Bancorp. (FFBC) reported a current ratio of 0.28x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.