Management continues to prioritize shareholder returns with $26.0 million in dividends paid during 2026Q1, even as the firm deploys $1.3 billion into investment securities to manage liquidity.
| 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 from Operations | 830.7M | 337.86M | 262.16M | 486.97M | 200.85M | 388.16M | 108.36M | 186.33M | 260.35M | 123.52M | 142.6M | 91.57M | 56.65M | 164.35M | 211.83M | 203.08M | 185.01M | 39.45M | 41.65M | 73.4M | 17.28M | 60.51M | 53.26M | 61.76M | 64.14M | 77.38M | 66.84M | 52.2M | 61.2M | 57M | 35.7M |
| Operating CF Growth % | 947.64% | 28.88% | -46.17% | 142.46% | -48.26% | 258.2% | -41.84% | -28.43% | 110.77% | -13.38% | 55.73% | 61.63% | -65.53% | -22.41% | 4.31% | 9.76% | 368.95% | -5.28% | -43.25% | 324.74% | -71.44% | 13.63% | -13.77% | -3.71% | -17.11% | 15.77% | 28.05% | -14.71% | 7.37% | 59.66% | -14.59% |
| Net Income | 278.76M | 255.6M | 228.83M | 255.86M | 217.61M | 205.16M | 155.81M | 198.07M | 172.59M | 96.79M | 88.53M | 75.06M | 65M | 48.35M | 67.3M | 66.74M | 59.25M | 221.34M | 22.96M | 35.68M | 21.27M | 37.93M | 41.12M | 37.91M | 48.23M | 43.31M | 58.22M | 50.3M | 51M | 46.8M | 33.9M |
| Depreciation & Amortization | 45.88M | 39.82M | 38.42M | 37.8M | 38.81M | 39.56M | 41.23M | 28.14M | 24.17M | 12.64M | 13.04M | 13.27M | 12.79M | 14.27M | 15.83M | 11.95M | 10.98M | 0 | 6.68M | 8.08M | 8.48M | 10.59M | 8.98M | 19.48M | 10.32M | 8.81M | 2.17M | 9.2M | 9.6M | 6.6M | 4.7M |
| Deferred Taxes | 1.13M | 18.91M | 21.2M | 13.37M | -3.5M | 12.09M | -8.38M | 12.59M | 6.27M | -4.49M | 346K | 4.19M | -22.41M | -25.33M | -14.09M | -14.46M | -11.46M | 116.4M | -4.21M | -3.34M | 14.36M | -778K | 2.72M | 1.37M | -7.52M | 79K | 9.18M | 2.1M | 2.7M | -100K | 700K |
| Other Non-Cash Items | 439.75M | 47.52M | 62.75M | 37.37M | 9.13M | 3.15M | 41.84M | 33.58M | 30.19M | 12.44M | 24.73M | 3.71M | 2.76M | 29.15M | 62.96M | 89.08M | 14.81M | -297.61M | 18.62M | 23.12M | -25.52M | 9.78M | -4.45M | 3.82M | 4.21M | 23M | 336K | -7.3M | -1.3M | 4.1M | -3.5M |
| Working Capital Changes | 51.54M | -39.58M | -104.74M | 127.68M | -74.58M | 118.56M | -129.82M | -94.02M | 20.9M | 696K | 10.61M | -8.71M | -5.46M | 94.11M | 75.64M | 45.83M | 108.35M | -3.47M | -4.84M | 9.86M | -1.3M | 2.99M | 4.89M | -823K | 8.89M | 2.18M | -3.07M | -2.1M | -800K | -400K | -100K |
| Cash from Investing | -1.22B | -546.72M | -1B | -701.26M | -883.11M | -510.03M | -1.2B | -252.42M | -204.78M | -429.45M | -313.35M | -918.85M | -83.98M | -100.24M | 10.03M | 218.95M | 25.84M | 1.14B | -349.32M | -104.55M | 336.24M | 213.24M | -2.34M | -253.66M | 87.41M | 74.37M | -34.4M | -353.3M | -307.1M | -50.4M | -40.1M |
| Purchase of Investments | -2.85B | -1.87B | -1.03B | -113.04M | -682.48M | -2.43B | -1.61B | -846.86M | -897.53M | -748.89M | -412.42M | -551.42M | -288.28M | -447.51M | -1.03B | -1.03B | -619.55M | -113.4M | -368.15M | -47.23M | -37.46M | -193.38M | -105.08M | -673.78M | -272.91M | -253.19M | -83.51M | -137.8M | -338.2M | -257.1M | -136.5M |
| Sale/Maturity of Investments | 1.67B | 1.5B | 904.89M | 566.62M | 996.03M | 1.59B | 1.1B | 1.09B | 715.82M | 536.55M | 525M | 331.23M | 373.4M | 437.15M | 663.62M | 520.13M | 169.67M | 338.77M | 111.35M | 63.34M | 274.67M | 155.16M | 215.07M | 500.81M | 246.07M | 232.61M | 77.83M | 188.6M | 348.5M | 237.8M | 198.7M |
| Net Investment Activity | -1.18B | -370.52M | -124.69M | 453.58M | 313.56M | -839.02M | -512.53M | 247.37M | -181.71M | -212.33M | 112.59M | -220.19M | 85.12M | -10.36M | -366.67M | -507.63M | -449.88M | 225.37M | -256.79M | 16.11M | 237.22M | -38.22M | 109.99M | -172.97M | -26.84M | -20.58M | -5.68M | 50.8M | 10.3M | -19.3M | 62.2M |
| Acquisitions | -174.47M | -187.19M | -96.89M | -3.54M | 0 | -109.02M | 0 | -51.55M | 23.7M | 0 | 0 | -305.59M | 34.3M | 0 | 0 | 620.64M | 0 | 1.25B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 166.47M | 31.74M | -757.38M | -1.13B | -1.18B | 453.35M | -674.35M | -427.31M | -28.54M | -210.58M | -416.21M | -385.6M | -192.79M | -82.59M | 402.21M | 129.48M | 498.51M | -320.7M | -80.64M | -113.08M | 114.67M | 263.89M | -98.64M | -72.07M | 117.52M | 103.06M | -23.26M | -395.7M | -308.7M | -26.9M | -97.9M |
| Cash from Financing | 369.24M | 213.16M | 699.08M | 219.85M | 669.73M | 110.85M | 1.13B | 30.57M | 30.01M | 334.98M | 177.5M | 832M | 19.83M | -81M | -237.02M | -378.36M | -449.02M | -940.68M | 302.38M | 17.96M | -397.4M | -265.83M | -79.17M | 193.67M | -180.83M | -122.68M | -76.22M | 362.4M | 242.1M | 23.1M | 6.6M |
| Dividends Paid | -97.61M | -94.65M | -89.54M | -87.16M | -86.61M | -87.32M | -89.69M | -89.1M | -79.66M | -41.18M | -39.13M | -39.07M | -34.85M | -61.43M | -67.8M | -35.31M | -23.59M | -22.6M | -25.44M | -24.84M | -25.31M | -27.67M | -26.35M | -26.59M | -27.47M | -28.4M | -27.9M | -25.6M | -21.4M | -20.3M | -16.3M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -108.08M | -16.69M | -66.22M | 0 | 0 | 0 | -4.5M | -697K | -11.78M | -6.81M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 91.22M | 97.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | 0 | 0 | 0 | 0 | 0 | -108.08M | -16.69M | -66.22M | 0 | 0 | 0 | -4.5M | -697K | -11.78M | -6.81M | 0 | 91.22M | 97.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | -2M | 1000K | -1000K | -1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K |
| Other Financing | 717.55M | 297.84M | 968.34M | 659.62M | -170.78M | 639.95M | 2.02B | 70.04M | -18.41M | 369.6M | 347.23M | 524.77M | 250.84M | -117.57M | -686.24M | -309.71M | -203.58M | -536.86M | -110.69M | 96.3M | -127.96M | -79.75M | 39.32M | 23.23M | -162.66M | -66.33M | 160.22M | 119.1M | 126.6M | 34M | -15.4M |
| Net Change in Cash | -19.97M | 4.29M | -38.8M | 5.56M | -12.53M | -11.02M | 30.36M | -35.53M | 85.57M | 29.05M | 6.76M | 4.72M | -7.5M | -16.88M | -15.15M | 43.67M | -238.17M | 243.22M | -5.29M | -13.18M | -43.87M | 7.93M | -28.26M | 1.77M | -29.29M | 29.07M | -43.78M | 61.3M | -3.9M | 29.8M | -108.7M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 178.55M | 174.26M | 213.06M | 207.5M | 220.03M | 231.05M | 200.69M | 236.22M | 150.65M | 121.6M | 114.84M | 110.12M | 117.62M | 134.5M | 149.65M | 105.98M | 344.15M | 100.94M | 106.22M | 119.41M | 163.28M | 155.35M | 183.61M | 181.84M | 211.13M | 182.06M | 225.84M | 164.5M | 168.4M | 138.6M | 108.7M |
| Cash at End | 170.64M | 178.55M | 174.26M | 213.06M | 207.5M | 220.03M | 231.05M | 200.69M | 236.22M | 150.65M | 121.6M | 114.84M | 110.12M | 117.62M | 134.5M | 149.65M | 105.98M | 344.15M | 100.94M | 106.22M | 119.41M | 163.28M | 155.35M | 183.61M | 181.84M | 211.13M | 182.06M | 225.8M | 164.5M | 168.4M | 0 |
| Interest Paid | 367.25M | 364.96M | 398.13M | 234.93M | 59.51M | 32.84M | 75.88M | 121.78M | 84.13M | 49.47M | 33.23M | 20.96M | 18.15M | 17.24M | 29.28M | 46.77M | 67.23M | 58.52M | 69.75M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 9.57M | 9.21M | 27.52M | 10.08M | 5.7M | 17.69M | 32.58M | 27.5M | 16M | 38.33M | 37.57M | 31.19M | 61.18M | 36.31M | 54.69M | 60.44M | 45.66M | 16.48M | 15.05M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 812.93M | 317.1M | 241.08M | 462.83M | 187.07M | 372.82M | 91.9M | 165.4M | 242.12M | 116.99M | 132.87M | 84.1M | 46.05M | 157.06M | 186.33M | 179.54M | 162.23M | 26.27M | 29.77M | 65.83M | 1.64M | 48.09M | 39.56M | 53.14M | 60.86M | 69.27M | 61.38M | 43.8M | 52.5M | 52.8M | 31.3M |
| FCF Growth % | 202.61% | 31.53% | -47.91% | 147.41% | -49.82% | 305.7% | -44.44% | -31.69% | 106.96% | -11.96% | 58% | 82.65% | -70.68% | -15.71% | 3.78% | 10.67% | 517.46% | -11.74% | -54.78% | 3926.06% | -96.6% | 21.57% | -25.56% | -12.68% | -12.14% | 12.85% | 40.13% | -16.57% | -0.57% | 68.69% | -18.06% |
Specialized Lending Credit Concentration
According to FFBC's quarterly financial statements, the bank consistently generated positive net income, with 2026Q1 earnings of $74.4 million, providing a stable foundation for capital retention and supporting the bank's ongoing strategic expansion into specialized commercial lending verticals without immediate reliance on external equity financing.
The bank's ability to generate consistent earnings suggests a self-funding mechanism for its organic growth initiatives. Investors should monitor whether the current pace of capital generation remains sufficient to support the integration of recent acquisitions like Summit Funding Group while maintaining regulatory capital buffers.
Based on reported cash flow data, FFBC exhibited significant volatility in its investment securities portfolio, highlighted by a $1.3 billion purchase in 2026Q1, which suggests a tactical approach to liquidity management and duration positioning in response to shifting interest rate expectations across the Midwest regional market.
The substantial swings between purchases and sales of investment securities indicate that the bank is actively utilizing its securities portfolio as a primary lever for managing balance sheet liquidity. This activity warrants further investigation to determine if these moves are intended to optimize yield or provide a buffer against deposit outflows.
As reported in recent filings, FFBC has maintained a consistent dividend payout, with $26.0 million distributed in 2026Q1, indicating that management prioritizes shareholder returns even as the bank navigates the capital-intensive integration of its specialized finance units and broader economic uncertainty within its core operating footprint.
The absence of share buybacks in the provided data suggests a conservative approach to capital allocation, favoring the preservation of liquidity over equity reduction. This strategy appears prudent given the potential for credit volatility in the bank's niche franchise lending segments.
Based on historical cash flow disclosures, FFBC's provision for credit losses has remained relatively stable, with a $8.5 million charge in 2026Q1, reflecting a disciplined adherence to CECL requirements despite the inherent risks associated with the bank's specialized commercial and franchise-focused loan portfolio.
The alignment between provision levels and historical loss patterns suggests that management is not currently signaling an expectation of significant credit deterioration. However, analysts should monitor whether these provisions remain adequate if cyclical pressures in the restaurant and retail sectors intensify.
Quick answers to the most common questions about buying FFBC stock.
First Financial Bancorp. (FFBC) generated $337.9M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
First Financial Bancorp. (FFBC) generated $317.1M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
First Financial Bancorp. (FFBC) spent $20.8M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, First Financial Bancorp. (FFBC) returned $94.6M to shareholders via cash dividends. This shows the company's commitment to returning capital to its equity investors.