8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 26, 2023

FIRST FINANCIAL BANCORP.

(Exact name of registrant as specified in its charter)

Ohio	001-34762		31-1042001
(State or other jurisdiction of incorporation or organization)	(Commission File Number)		(I.R.S. employer identification number)
255 East Fifth Street, Suite 800	Cincinnati,	Ohio	45202
(Address of principal executive offices)			(Zip Code)

Registrant's telephone number, including area code: (877) 322-9530

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol	Name of exchange on which registered
Common stock, No par value	FFBC	The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☐

Item 2.02    Results of Operations and Financial Condition.

On January 26, 2023, First Financial Bancorp. (the "Company") issued its earnings press release that included its results of operations and financial condition for the twelve months and fourth quarter of 2022. A copy of the earnings press release is attached as Exhibit 99.1.

The Company also provided electronic presentation slides that will be used in connection with the earnings conference call. A copy of the electronic presentation slides is included in this Report as Exhibit 99.2 and will be available on the Company's website, www.bankatfirst.com.

The information set forth in this Current Report on Form 8-K (including the information in Exhibits 99.1 and 99.2 attached hereto) is being furnished to the Securities and Exchange Commission and is not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act")    , or otherwise subject to the liabilities under the Exchange Act. Such information shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits.

    (d)    Exhibits:

The following exhibits shall not be deemed to be "filed" for purposes of the Exchange Act:

    Exhibit No.    Description

    99.1 First Financial Bancorp. Press Release dated January 26, 2023

    99.2 First Financial Bancorp. presentation materials

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                        FIRST FINANCIAL BANCORP.

		By: /s/ James M. Anderson
		James M. Anderson
		Executive Vice President and Chief Financial Officer
Date:	January 26, 2023

EX-99.1

Exhibit 99.1

First Financial Bancorp Announces Fourth Quarter and Full Year 2022 Financial Results and Quarterly Dividend

•Earnings per diluted share of $0.73

•Return on average assets of 1.63%

•Net interest margin on FTE basis(1) of 4.47%; 49 bp increase from linked quarter

•Loan growth of $501.5 million; 20.3% on an annualized basis

•Record quarterly revenue driven by increase in net interest income and record fee income

•Strong credit quality with net recoveries and declining nonperforming assets

Cincinnati, Ohio - January 26, 2023. First Financial Bancorp. (Nasdaq: FFBC) (“First Financial” or the “Company”) announced financial results for the three and twelve months ended December 31, 2022.

For the three months ended December 31, 2022, the Company reported net income of $69.1 million, or $0.73 per diluted common share. These results compare to net income of $55.7 million, or $0.59 per diluted common share, for the third quarter of 2022. For the twelve months ended December 31, 2022, First Financial had earnings per diluted share of $2.30 compared to $2.14 for the same period in 2021.

Return on average assets for the fourth quarter of 2022 was 1.63% while return on average tangible common equity was 29.93%(1). These compare to return on average assets of 1.35% and return on average tangible common equity of 22.29%(1) in the third quarter of 2022.

Fourth quarter 2022 highlights include:

•Strong loan growth when compared to linked quarter(2)

◦Loan balances increased $501.5 million compared to the third quarter

◦Growth of 20.3% on an annualized basis

◦Broad based portfolio growth; Summit contributed $129.7 million of the quarterly growth

•Net interest margin of 4.43%, or 4.47% on a fully tax-equivalent basis(1), exceeded expectations

◦49 bp increase to 4.47% from 3.98% in the third quarter due to higher asset yields resulting from higher interest rates

◦96 bp increase in loan yields offset 31 bp increase in cost of deposits

◦Stable core deposit balances; $58.0 million decline in total deposit balances, excluding $319.3 million increase in brokered CD's

•Record noninterest income of $56.0 million, or $55.1 million as adjusted(1)

◦Record foreign exchange income of $19.6 million; 66.7% increase from third quarter

◦Record leasing business income of $11.1 million; 56.1% increase from third quarter

◦Adjusted(1) for $0.9 million gain on investment securities

________________________________________________________________________________________

(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 consolidated balance sheets at December 31, 2022, September 30, 2022, June 30, 2022, March 31, 2022 and December 31, 2021 include assets acquired and liabilities assumed in the Summit Financial transaction. The fair value measurements of assets acquired and liabilities assumed are subject to refinement for up to one year after the closing date of the acquisition as additional information relative to closing date fair values becomes available. These fair value measurements are considered final as of December 31, 2022.

•Noninterest expenses of $124.4 million, or $117.3 million as adjusted(1)

◦Adjustments(1) include $6.4 million tax credit investment writedown and $0.7 million of other costs not expected to recur such as acquisition, severance and branch consolidation costs

◦Increase driven by elevated incentive costs tied to record foreign exchange income during the period

◦$2.5 million contribution to First Financial Foundation

◦Efficiency ratio of 58.2%; 55.1% as adjusted(1)

•Total Allowance for Credit Losses of $151.4 million; Total quarterly provision expense of $10.0 million

◦Loans and leases - ACL of $133.0 million; increased 2 bps to 1.29% of total loans

◦Unfunded Commitments - ACL of $18.4 million

◦Provision expense driven by loan growth and slower prepayment speeds

◦Net recoveries of 1 bp of average loans and leases

◦Nonperforming assets declined 16% compared to the linked quarter to 23 bps of total assets

•Regulatory capital ratios remain in excess of internal targets

◦Total capital ratio of 13.64%

◦Tier 1 common equity increased 1 bps to 10.83%

◦Tangible common equity increased 16 bps to 5.95%(1); 8.20%(1) excluding impact from AOCI

◦Tangible book value per share of $9.97(1)

Additionally, the board of directors approved a quarterly dividend of $0.23 per common share for the next regularly scheduled dividend, payable on March 15, 2023 to shareholders of record as of March 1, 2023.

Archie Brown, President and CEO, commented on the quarter, “I am extremely pleased with our fourth quarter performance, which was exceptional on many levels. Earnings per diluted share were $0.73, return on assets was 1.63% and our adjusted(1) efficiency ratio improved to 55%. Diluted earnings per common share increased 24% from the third quarter, and we achieved record operating revenue of $214 million driven by a 15% increase in net interest income and a 32% increase in fee income. Rate increases continued to positively impact our asset sensitive balance sheet, with our net interest margin expanding by 49 basis points to 4.47% as increasing asset yields outpaced deposit costs. The growth in noninterest income was due to record quarters from Bannockburn and Summit, which more than offset softness in mortgage, client derivative fees and service charge income."

Mr. Brown continued, “We were also very pleased with $502 million of broad-based loan growth in the quarter, which is 20.3% on an annualized basis and included a $130 million increase in finance leases at Summit. We expect loan growth to moderate in the first quarter of 2023 due to seasonal and economic uncertainty. We experienced modest outflows in personal interest-bearing transaction accounts, however this was offset by seasonal inflows in our public fund and business deposits. The result was a stable core deposit base and a loan to deposit ratio of 81%."

Mr. Brown continued, “Loan quality remained strong across our portfolio, with nonperforming assets declining by 16% to 23 basis points of total assets and 1 basis point of net recoveries for the period. Our ACL to total loan coverage increased slightly during the fourth quarter due to slowing prepayments and the general outlook for the U.S. economy.”

Mr. Brown discussed full year results, “2022 was a great year for First Financial. Adjusted(1) earnings per share of $2.36 was a record, and increased 3% compared to 2021, resulting in a 1.36% adjusted(1) return on assets and an adjusted(1) efficiency ratio of 60%. Revenue increased 14% compared to the prior year to $709 million, which was a record for our Company. Net interest income grew by 15% with short-term rate increases providing a catalyst, while record fee income increased by 11% for the year as our acquisition of Summit Funding drove new fees and Bannockburn revenue grew by 23% to a record $55 million. Our recent acquisitions have diversified our income sources as we intended, and we are very pleased that they effectively insulated the Company from much of the fee pressure that impacted the broader industry in 2022.”

Mr. Brown continued, “Loan growth exceeded $1 billion for the year, representing an 11% increase from 2021. We were pleased that the growth was broad-based, and included strong contributions from Summit Funding, which we acquired at the end of 2021. Summit's originations exceeded $400 million for the year, which was an all time high for them and surpassed our expectations, contributing over 20% of the Company's overall loan growth.”

Mr. Brown commented on asset quality, “Asset Quality was very strong for the year. Net Charge-offs were 6 basis points of total loans, which was a 20 basis point decline compared to 26 basis points in 2021. In addition, nonperforming assets declined $20 million, or 34%, to 23 basis points of total assets.”

Mr. Brown concluded, “The outstanding performance we achieved this year is the direct result of our associates executing at a very high level. I want to thank them for their commitment to our clients, our communities and each other. While we are proud of our 2022 financial results, we believe we have further opportunity to improve our execution and are committed to doing so. As we look forward to 2023, we remain focused on delivering consistent, sustained, industry leading results.”

Full detail of the Company’s fourth quarter and full year 2022 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, January 27, 2023 at 8:30 a.m. Eastern Time. Members of the public who would like to listen to the conference call should dial (844) 200-6205 (U.S. toll free), (646) 904-5544 (U.S. local) or +1 (929) 526-1599 (International), access code 329103. 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 (866) 813-9403 (U.S. toll free), (929) 458-6194 (U.S. local) and +44 204 525-0658 (all other locations), access code 347122. The recording will be available until February 10, 2023. 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, 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, 2021, 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 December 31, 2022, the Company had $17.0 billion in assets, $10.3 billion in loans, $12.7 billion in deposits and $2.0 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 $3.2 billion in assets under management as of December 31, 2022. The Company operated 132 full service banking centers as of December 31, 2022, located in Ohio, Indiana, Kentucky and Illinois, while the Commercial Finance business lends into targeted industry verticals on a nationwide basis. Additional information about the Company, including its products, services and banking locations, is available at www.bankatfirst.com.

Contact Information

Investors/AnalystsMedia

Jamie Anderson                        Tim Condron

Chief Financial Officer                    Marketing Communications Manager

(513) 887-5400                        (513) 979-5796

InvestorRelations@bankatfirst.commedia@bankatfirst.com

Selected Financial Information

December 31, 2022

(unaudited)

Contents	Page
Consolidated Financial Highlights	2
Consolidated Quarterly Statements of Income	3
Consolidated Quarterly Statements of Income	4-5
Consolidated Statements of Condition	6
Average Consolidated Statements of Condition	7
Net Interest Margin Rate / Volume Analysis	8-9
Credit Quality	10
Capital Adequacy	11

FIRST FINANCIAL BANCORP.
CONSOLIDATED FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share data)
(Unaudited)
	Three Months Ended,															Twelve months ended,
	Dec. 31,			Sep. 30,			June 30,			Mar. 31,			Dec. 31,			Dec. 31,
	2022			2022			2022			2022			2021			2022			2021
RESULTS OF OPERATIONS
Net income	$	69,086		$	55,705		$	51,520		$	41,301		$	46,945		$	217,612		$	205,160
Net earnings per share - basic	$	0.74		$	0.60		$	0.55		$	0.44		$	0.51		$	2.33		$	2.16
Net earnings per share - diluted	$	0.73		$	0.59		$	0.55		$	0.44		$	0.50		$	2.30		$	2.14
Dividends declared per share	$	0.23		$	0.23		$	0.23		$	0.23		$	0.23		$	0.92		$	0.92
KEY FINANCIAL RATIOS
Return on average assets	1.63		%	1.35		%	1.28		%	1.03		%	1.16		%	1.33		%	1.28		%
Return on average shareholders' equity	13.64		%	10.58		%	9.84		%	7.53		%	8.31		%	10.34		%	9.08		%
Return on average tangible shareholders' equity (1)	29.93		%	22.29		%	20.68		%	14.93		%	15.11		%	21.62		%	16.43		%
Net interest margin	4.43		%	3.93		%	3.41		%	3.11		%	3.19		%	3.73		%	3.27		%
Net interest margin (fully tax equivalent) (1)(2)	4.47		%	3.98		%	3.45		%	3.16		%	3.23		%	3.77		%	3.31		%
Ending shareholders' equity as a percent of ending assets	12.01		%	12.00		%	12.74		%	13.35		%	13.83		%	12.01		%	13.83		%
Ending tangible shareholders' equity as a percent of:
Ending tangible assets (1)	5.95		%	5.79		%	6.40		%	6.95		%	7.58		%	5.95		%	7.58		%
Risk-weighted assets (1)	7.32		%	7.21		%	8.09		%	8.85		%	9.91		%	7.32		%	9.91		%
Average shareholders' equity as a percent of average assets	11.98		%	12.75		%	12.97		%	13.75		%	13.98		%	12.85		%	14.06		%
Average tangible shareholders' equity as a percent of
average tangible assets (1)	5.84		%	6.49		%	6.62		%	7.44		%	8.20		%	6.59		%	8.29		%
Book value per share	$	21.51		$	21.03		$	21.90		$	22.63		$	23.99		$	21.51		$	23.99
Tangible book value per share (1)	$	9.97		$	9.48		$	10.27		$	10.97		$	12.26		$	9.97		$	12.26
Common equity tier 1 ratio (3)	10.83		%	10.82		%	10.91		%	10.87		%	10.85		%	10.83		%	10.85		%
Tier 1 ratio (3)	11.17		%	11.17		%	11.28		%	11.24		%	11.22		%	11.17		%	11.22		%
Total capital ratio (3)	13.64		%	13.73		%	13.94		%	13.97		%	14.11		%	13.64		%	14.11		%
Leverage ratio (3)	8.89		%	8.88		%	8.76		%	8.64		%	8.70		%	8.89		%	8.70		%
AVERAGE BALANCE SHEET ITEMS
Loans (4)	$	10,059,119		$	9,597,197		$	9,367,820		$	9,266,774		$	9,283,227		$	9,574,965		$	9,640,235
Investment securities	3,705,304			4,003,472			4,118,287			4,308,059			4,343,513			4,032,046			4,113,240
Interest-bearing deposits with other banks	372,054			317,146			294,136			273,763			166,904			314,552			73,170
Total earning assets	$	14,136,477		$	13,917,815		$	13,780,243		$	13,848,596		$	13,793,644		$	13,921,563		$	13,826,645
Total assets	$	16,767,598		$	16,385,989		$	16,185,978		$	16,184,919		$	16,036,417		$	16,382,730		$	16,072,360
Noninterest-bearing deposits	$	4,225,192		$	4,176,242		$	4,224,842		$	4,160,175		$	4,191,457		$	4,196,735		$	4,005,034
Interest-bearing deposits	8,407,114			8,194,781			8,312,876			8,623,800			8,693,792			8,383,529			8,655,308
Total deposits	$	12,632,306		$	12,371,023		$	12,537,718		$	12,783,975		$	12,885,249		$	12,580,264		$	12,660,342
Borrowings	$	1,489,088		$	1,406,718		$	1,079,596		$	721,695		$	396,743		$	1,177,013		$	647,223
Shareholders' equity	$	2,009,564		$	2,089,179		$	2,099,670		$	2,225,495		$	2,241,820		$	2,105,339		$	2,259,807
CREDIT QUALITY RATIOS
Allowance to ending loans	1.29		%	1.27		%	1.25		%	1.34		%	1.42		%	1.29		%	1.42		%
Allowance to nonaccrual loans	464.58		%	341.61		%	302.87		%	273.09		%	272.76		%	464.58		%	272.76		%
Allowance to nonperforming loans	335.94		%	262.09		%	235.08		%	231.98		%	219.96		%	335.94		%	219.96		%
Nonperforming loans to total loans	0.38		%	0.48		%	0.53		%	0.58		%	0.65		%	0.38		%	0.65		%
Nonaccrual loans to total loans	0.28		%	0.37		%	0.41		%	0.49		%	0.52		%	0.28		%	0.52		%
Nonperforming assets to ending loans, plus OREO	0.39		%	0.48		%	0.53		%	0.58		%	0.65		%	0.39		%	0.65		%
Nonperforming assets to total assets	0.23		%	0.28		%	0.31		%	0.33		%	0.37		%	0.23		%	0.37		%
Classified assets to total assets	0.75		%	0.69		%	0.74		%	0.67		%	0.64		%	0.75		%	0.64		%
Net charge-offs to average loans (annualized)	(0.01)		%	0.07		%	0.08		%	0.10		%	0.32		%	0.06		%	0.26		%

(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) December 31, 2022 regulatory capital ratios are preliminary.

(4) Includes loans held for sale.

2

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
	Three months ended,								Twelve months ended,
	Dec. 31,								Dec. 31,
	2022			2021			% Change		2022			2021			% Change
Interest income
Loans and leases, including fees	$	152,299		$	92,682		64.3	%	$	458,742		$	385,535		19.0	%
Investment securities
Taxable	30,248			20,993			44.1	%	102,314			79,212			29.2	%
Tax-exempt	4,105			4,127			(0.5)	%	18,466			18,323			0.8	%
Total investment securities interest	34,353			25,120			36.8	%	120,780			97,535			23.8	%
Other earning assets	3,262			71			N/M		5,484			147			N/M
Total interest income	189,914			117,873			61.1	%	585,006			483,217			21.1	%
Interest expense
Deposits	16,168			3,089			423.4	%	28,140			14,435			94.9	%
Short-term borrowings	11,091			10			N/M		19,132			198			N/M
Long-term borrowings	4,759			3,968			19.9	%	18,591			16,466			12.9	%
Total interest expense	32,018			7,067			353.1	%	65,863			31,099			111.8	%
Net interest income	157,896			110,806			42.5	%	519,143			452,118			14.8	%
Provision for credit losses-loans and leases	8,689			(9,525)			(191.2)	%	6,731			(19,024)			(135.4)	%
Provision for credit losses-unfunded commitments	1,341			1,799			(25.5)	%	4,982			903			451.7	%
Net interest income after provision for credit losses	147,866			118,532			24.7	%	507,430			470,239			7.9	%
Noninterest income
Service charges on deposit accounts	6,406			8,645			(25.9)	%	28,062			31,876			(12.0)	%
Trust and wealth management fees	5,648			6,038			(6.5)	%	23,506			23,780			(1.2)	%
Bankcard income	3,736			3,602			3.7	%	14,380			14,300			0.6	%
Client derivative fees	1,822			2,303			(20.9)	%	5,441			7,927			(31.4)	%
Foreign exchange income	19,592			12,808			53.0	%	54,965			44,793			22.7	%
Leasing business income	11,124			0			100.0	%	31,574			0			100.0	%
Net gains from sales of loans	2,206			6,492			(66.0)	%	15,048			33,021			(54.4)	%
Net gain (loss) on sale of investment securities	(393)			(14)			N/M		(569)			(759)			(25.0)	%
Net gain (loss) on equity securities	1,315			321			309.7	%	(639)			702			(191.0)	%
Other	4,579			5,465			(16.2)	%	17,873			15,866			12.6	%
Total noninterest income	56,035			45,660			22.7	%	189,641			171,506			10.6	%
Noninterest expenses
Salaries and employee benefits	73,621			62,170			18.4	%	269,368			245,924			9.5	%
Net occupancy	5,434			5,332			1.9	%	22,208			22,142			0.3	%
Furniture and equipment	3,234			3,161			2.3	%	13,224			13,819			(4.3)	%
Data processing	8,567			8,261			3.7	%	33,662			31,363			7.3	%
Marketing	2,198			2,152			2.1	%	8,744			7,983			9.5	%
Communication	690			677			1.9	%	2,683			2,930			(8.4)	%
Professional services	3,015			5,998			(49.7)	%	9,734			11,676			(16.6)	%
State intangible tax	974			651			49.6	%	4,285			4,256			0.7	%
FDIC assessments	2,173			1,453			49.6	%	7,194			5,630			27.8	%
Intangible amortization	2,573			2,401			7.2	%	11,185			9,839			13.7	%
Leasing business expense	6,061			0			100.0	%	20,363			0			100.0	%
Other	15,902			17,349			(8.3)	%	52,699			45,250			16.5	%
Total noninterest expenses	124,442			109,605			13.5	%	455,349			400,812			13.6	%
Income before income taxes	79,459			54,587			45.6	%	241,722			240,933			0.3	%
Income tax expense (benefit)	10,373			7,642			35.7	%	24,110			35,773			(32.6)	%
Net income	$	69,086		$	46,945		47.2	%	$	217,612		$	205,160		6.1	%
ADDITIONAL DATA
Net earnings per share - basic	$	0.74		$	0.51				$	2.33		$	2.16
Net earnings per share - diluted	$	0.73		$	0.50				$	2.30		$	2.14
Dividends declared per share	$	0.23		$	0.23				$	0.92		$	0.92
Return on average assets	1.63		%	1.16		%			1.33		%	1.28		%
Return on average shareholders' equity	13.64		%	8.31		%			10.34		%	9.08		%
Interest income	$	189,914		$	117,873		61.1	%	$	585,006		$	483,217		21.1	%
Tax equivalent adjustment	1,553			1,386			12.0	%	6,357			6,091			4.4	%
Interest income - tax equivalent	191,467			119,259			60.5	%	591,363			489,308			20.9	%
Interest expense	32,018			7,067			353.1	%	65,863			31,099			111.8	%
Net interest income - tax equivalent	$	159,449		$	112,192		42.1	%	$	525,500		$	458,209		14.7	%
Net interest margin	4.43		%	3.19		%			3.73		%	3.27		%
Net interest margin (fully tax equivalent) (1)	4.47		%	3.23		%			3.77		%	3.31		%
Full-time equivalent employees	2,070			1,994
(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.

3

FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
	2022
	Fourth			Third			Second			First			Year to			% Change
	Quarter			Quarter			Quarter			Quarter			Date			Linked Qtr.
Interest income
Loans and leases, including fees	$	152,299		$	122,170		$	97,091		$	87,182		$	458,742		24.7	%
Investment securities
Taxable	30,248			26,331			23,639			22,096			102,314			14.9	%
Tax-exempt	4,105			5,014			4,916			4,431			18,466			(18.1)	%
Total investment securities interest	34,353			31,345			28,555			26,527			120,780			9.6	%
Other earning assets	3,262			1,597			505			120			5,484			104.3	%
Total interest income	189,914			155,112			126,151			113,829			585,006			22.4	%
Interest expense
Deposits	16,168			6,386			2,963			2,623			28,140			153.2	%
Short-term borrowings	11,091			6,158			1,566			317			19,132			80.1	%
Long-term borrowings	4,759			4,676			4,612			4,544			18,591			1.8	%
Total interest expense	32,018			17,220			9,141			7,484			65,863			85.9	%
Net interest income	157,896			137,892			117,010			106,345			519,143			14.5	%
Provision for credit losses-loans and leases	8,689			7,898			(4,267)			(5,589)			6,731			10.0	%
Provision for credit losses-unfunded commitments	1,341			386			3,481			(226)			4,982			247.4	%
Net interest income after provision for credit losses	147,866			129,608			117,796			112,160			507,430			14.1	%
Noninterest income
Service charges on deposit accounts	6,406			6,279			7,648			7,729			28,062			2.0	%
Trust and wealth management fees	5,648			5,487			6,311			6,060			23,506			2.9	%
Bankcard income	3,736			3,484			3,823			3,337			14,380			7.2	%
Client derivative fees	1,822			1,447			1,369			803			5,441			25.9	%
Foreign exchange income	19,592			11,752			13,470			10,151			54,965			66.7	%
Leasing business income	11,124			7,127			7,247			6,076			31,574			56.1	%
Net gains from sales of loans	2,206			3,729			5,241			3,872			15,048			(40.8)	%
Net gain (loss) on sale of investment securities	(393)			(179)			0			3			(569)			119.6	%
Net gain (loss) on equity securities	1,315			(701)			(1,054)			(199)			(639)			287.6	%
Other	4,579			4,109			5,723			3,462			17,873			11.4	%
Total noninterest income	56,035			42,534			49,778			41,294			189,641			31.7	%
Noninterest expenses
Salaries and employee benefits	73,621			66,808			64,992			63,947			269,368			10.2	%
Net occupancy	5,434			5,669			5,359			5,746			22,208			(4.1)	%
Furniture and equipment	3,234			3,222			3,201			3,567			13,224			0.4	%
Data processing	8,567			8,497			8,334			8,264			33,662			0.8	%
Marketing	2,198			2,523			2,323			1,700			8,744			(12.9)	%
Communication	690			657			670			666			2,683			5.0	%
Professional services	3,015			2,346			2,214			2,159			9,734			28.5	%
State intangible tax	974			1,090			1,090			1,131			4,285			(10.6)	%
FDIC assessments	2,173			1,885			1,677			1,459			7,194			15.3	%
Intangible amortization	2,573			2,783			2,915			2,914			11,185			(7.5)	%
Leasing business expense	6,061			5,746			4,687			3,869			20,363			5.5	%
Other	15,902			23,842			5,572			7,383			52,699			(33.3)	%
Total noninterest expenses	124,442			125,068			103,034			102,805			455,349			(0.5)	%
Income before income taxes	79,459			47,074			64,540			50,649			241,722			68.8	%
Income tax expense (benefit)	10,373			(8,631)			13,020			9,348			24,110			(220.2)	%
Net income	$	69,086		$	55,705		$	51,520		$	41,301		$	217,612		24.0	%
ADDITIONAL DATA
Net earnings per share - basic	$	0.74		$	0.60		$	0.55		$	0.44		$	2.33
Net earnings per share - diluted	$	0.73		$	0.59		$	0.55		$	0.44		$	2.30
Dividends declared per share	$	0.23		$	0.23		$	0.23		$	0.23		$	0.92
Return on average assets	1.63		%	1.35		%	1.28		%	1.03		%	1.33		%
Return on average shareholders' equity	13.64		%	10.58		%	9.84		%	7.53		%	10.34		%
Interest income	$	189,914		$	155,112		$	126,151		$	113,829		$	585,006		22.4	%
Tax equivalent adjustment	1,553			1,712			1,625			1,467			6,357			(9.3)	%
Interest income - tax equivalent	191,467			156,824			127,776			115,296			591,363			22.1	%
Interest expense	32,018			17,220			9,141			7,484			65,863			85.9	%
Net interest income - tax equivalent	$	159,449		$	139,604		$	118,635		$	107,812		$	525,500		14.2	%
Net interest margin	4.43		%	3.93		%	3.41		%	3.11		%	3.73		%
Net interest margin (fully tax equivalent) (1)	4.47		%	3.98		%	3.45		%	3.16		%	3.77		%
Full-time equivalent employees	2,070			2,072			2,096			2,050 (2)
(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.
(2) Includes 65 FTE from Summit acquisition.

4

FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
	2021
	Fourth			Third			Second			First			Full
	Quarter			Quarter			Quarter			Quarter			Year
Interest income
Loans and leases, including fees	$	92,682		$	96,428		$	97,494		$	98,931		$	385,535
Investment securities
Taxable	20,993			20,088			19,524			18,607			79,212
Tax-exempt	4,127			4,282			4,871			5,043			18,323
Total investment securities interest	25,120			24,370			24,395			23,650			97,535
Other earning assets	71			23			25			28			147
Total interest income	117,873			120,821			121,914			122,609			483,217
Interest expense
Deposits	3,089			3,320			3,693			4,333			14,435
Short-term borrowings	10			68			53			67			198
Long-term borrowings	3,968			4,023			4,142			4,333			16,466
Total interest expense	7,067			7,411			7,888			8,733			31,099
Net interest income	110,806			113,410			114,026			113,876			452,118
Provision for credit losses-loans and leases	(9,525)			(8,193)			(4,756)			3,450			(19,024)
Provision for credit losses-unfunded commitments	1,799			(1,951)			517			538			903
Net interest income after provision for credit losses	118,532			123,554			118,265			109,888			470,239
Noninterest income
Service charges on deposit accounts	8,645			8,548			7,537			7,146			31,876
Trust and wealth management fees	6,038			5,896			6,216			5,630			23,780
Bankcard income	3,602			3,838			3,732			3,128			14,300
Client derivative fees	2,303			2,273			1,795			1,556			7,927
Foreign exchange income	12,808			9,191			12,037			10,757			44,793
Leasing business income	0			0			0			0			0
Net gains from sales of loans	6,492			8,586			8,489			9,454			33,021
Net gain (loss) on sale of investment securities	(14)			(314)			(265)			(166)			(759)
Net gain (loss) on equity securities	321			108			161			112			702
Other	5,465			4,411			3,285			2,705			15,866
Total noninterest income	45,660			42,537			42,987			40,322			171,506
Noninterest expenses
Salaries and employee benefits	62,170			61,717			60,784			61,253			245,924
Net occupancy	5,332			5,571			5,535			5,704			22,142
Furniture and equipment	3,161			3,318			3,371			3,969			13,819
Data processing	8,261			7,951			7,864			7,287			31,363
Marketing	2,152			2,435			2,035			1,361			7,983
Communication	677			669			746			838			2,930
Professional services	5,998			2,199			2,029			1,450			11,676
State intangible tax	651			1,202			1,201			1,202			4,256
FDIC assessments	1,453			1,466			1,362			1,349			5,630
Intangible amortization	2,401			2,479			2,480			2,479			9,839
Leasing business expense	0			0			0			0			0
Other	17,349			10,051			12,236			5,614			45,250
Total noninterest expenses	109,605			99,058			99,643			92,506			400,812
Income before income taxes	54,587			67,033			61,609			57,704			240,933
Income tax expense (benefit)	7,642			7,021			10,721			10,389			35,773
Net income	$	46,945		$	60,012		$	50,888		$	47,315		$	205,160
ADDITIONAL DATA
Net earnings per share - basic	$	0.51		$	0.64		$	0.53		$	0.49		$	2.16
Net earnings per share - diluted	$	0.50		$	0.63		$	0.52		$	0.48		$	2.14
Dividends declared per share	$	0.23		$	0.23		$	0.23		$	0.23		$	0.92
Return on average assets	1.16		%	1.49		%	1.26		%	1.20		%	1.28		%
Return on average shareholders' equity	8.31		%	10.53		%	9.02		%	8.44		%	9.08		%
Interest income	$	117,873		$	120,821		$	121,914		$	122,609		$	483,217
Tax equivalent adjustment	1,386			1,434			1,619			1,652			6,091
Interest income - tax equivalent	119,259			122,255			123,533			124,261			489,308
Interest expense	7,067			7,411			7,888			8,733			31,099
Net interest income - tax equivalent	$	112,192		$	114,844		$	115,645		$	115,528		$	458,209
Net interest margin	3.19		%	3.28		%	3.27		%	3.35		%	3.27		%
Net interest margin (fully tax equivalent) (1)	3.23		%	3.32		%	3.31		%	3.40		%	3.31		%
Full-time equivalent employees	1,994			2,026			2,053			2,063
(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.

5

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
	Dec. 31,		Sep. 30,		June 30,		Mar. 31,		Dec. 31,		% Change		% Change
	2022		2022		2022		2022		2021		Linked Qtr.		Comp Qtr.
ASSETS
Cash and due from banks	$	207,501	$	195,553	$	217,481	$	214,571	$	220,031	6.1	%	(5.7)	%
Interest-bearing deposits with other banks	388,182		338,978		270,042		243,004		214,811		14.5	%	80.7	%
Investment securities available-for-sale	3,409,648		3,531,353		3,843,580		3,957,882		4,207,846		(3.4)	%	(19.0)	%
Investment securities held-to-maturity	84,021		85,823		88,057		92,597		98,420		(2.1)	%	(14.6)	%
Other investments	143,160		138,767		132,151		114,563		102,971		3.2	%	39.0	%
Loans held for sale	7,918		10,684		22,044		12,670		29,482		(25.9)	%	(73.1)	%
Loans and leases
Commercial and industrial	3,410,272		3,139,219		2,927,175		2,800,209		2,720,028		8.6	%	25.4	%
Lease financing	236,124		176,072		146,639		125,867		109,624		34.1	%	115.4	%
Construction real estate	512,050		489,446		449,734		479,744		455,894		4.6	%	12.3	%
Commercial real estate	4,052,759		3,976,345		4,007,037		4,031,484		4,226,614		1.9	%	(4.1)	%
Residential real estate	1,092,265		1,024,596		965,387		913,838		896,069		6.6	%	21.9	%
Home equity	733,791		737,318		725,700		707,973		708,399		(0.5)	%	3.6	%
Installment	209,895		202,267		146,680		132,197		119,454		3.8	%	75.7	%
Credit card	51,815		52,173		52,065		50,305		52,217		(0.7)	%	(0.8)	%
Total loans	10,298,971		9,797,436		9,420,417		9,241,617		9,288,299		5.1	%	10.9	%
Less:
Allowance for credit losses	(132,977)		(124,096)		(117,885)		(124,130)		(131,992)		7.2	%	0.7	%
Net loans	10,165,994		9,673,340		9,302,532		9,117,487		9,156,307		5.1	%	11.0	%
Premises and equipment	189,080		189,067		191,099		190,975		193,040		0.0	%	(2.1)	%
Operating leases	91,738		84,851		82,659		61,927		60,811		8.1	%	50.9	%
Goodwill	1,001,507		998,422		999,959		999,959		1,000,749		0.3	%	0.1	%
Other intangibles	93,919		96,528		99,019		101,673		104,367		(2.7)	%	(10.0)	%
Accrued interest and other assets	1,220,648		1,280,427		995,091		901,842		940,306		(4.7)	%	29.8	%
Total Assets	$	17,003,316	$	16,623,793	$	16,243,714	$	16,009,150	$	16,329,141	2.3	%	4.1	%
LIABILITIES
Deposits
Interest-bearing demand	$	3,037,153	$	2,980,465	$	3,096,365	$	3,246,646	$	3,198,745	1.9	%	(5.1)	%
Savings	3,828,139		3,980,020		4,029,717		4,188,867		4,157,374		(3.8)	%	(7.9)	%
Time	1,700,705		1,242,412		1,026,918		1,121,966		1,330,263		36.9	%	27.8	%
Total interest-bearing deposits	8,565,997		8,202,897		8,153,000		8,557,479		8,686,382		4.4	%	(1.4)	%
Noninterest-bearing	4,135,180		4,137,038		4,124,111		4,261,429		4,185,572		0.0	%	(1.2)	%
Total deposits	12,701,177		12,339,935		12,277,111		12,818,908		12,871,954		2.9	%	(1.3)	%
Federal funds purchased and securities sold
under agreements to repurchase	0		3,535		0		0		51,203		100.0	%	(100.0)	%
FHLB short-term borrowings	1,130,000		972,600		896,000		185,000		225,000		16.2	%	402.2	%
Other	157,156		184,912		152,226		57,247		20,000		(15.0)	%	685.8	%
Total short-term borrowings	1,287,156		1,161,047		1,048,226		242,247		296,203		10.9	%	334.6	%
Long-term debt	346,672		355,116		358,578		379,840		409,832		(2.4)	%	(15.4)	%
Total borrowed funds	1,633,828		1,516,163		1,406,804		622,087		706,035		7.8	%	131.4	%
Accrued interest and other liabilities	626,938		773,563		491,129		430,710		492,210		(19.0)	%	27.4	%
Total Liabilities	14,961,943		14,629,661		14,175,044		13,871,705		14,070,199		2.3	%	6.3	%
SHAREHOLDERS' EQUITY
Common stock	1,634,605		1,631,696		1,637,237		1,634,903		1,640,358		0.2	%	(0.4)	%
Retained earnings	968,237		920,943		887,006		857,178		837,473		5.1	%	15.6	%
Accumulated other comprehensive income (loss)	(358,663)		(354,570)		(243,328)		(142,477)		(433)		1.2	%	N/M
Treasury stock, at cost	(202,806)		(203,937)		(212,245)		(212,159)		(218,456)		(0.6)	%	(7.2)	%
Total Shareholders' Equity	2,041,373		1,994,132		2,068,670		2,137,445		2,258,942		2.4	%	(9.6)	%
Total Liabilities and Shareholders' Equity	$	17,003,316	$	16,623,793	$	16,243,714	$	16,009,150	$	16,329,141	2.3	%	4.1	%

6

FIRST FINANCIAL BANCORP.
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
	Quarterly Averages										Year-to-Date Averages
	Dec. 31,		Sep. 30,		June 30,		Mar. 31,		Dec. 31,		Dec. 31,
	2022		2022		2022		2022		2021		2022		2021
ASSETS
Cash and due from banks	$	218,216	$	228,068	$	248,463	$	241,271	$	253,091	$	233,925	$	242,201
Interest-bearing deposits with other banks	372,054		317,146		294,136		273,763		166,904		314,552		73,170
Investment securities	3,705,304		4,003,472		4,118,287		4,308,059		4,343,513		4,032,046		4,113,240
Loans held for sale	8,639		12,283		15,446		15,589		24,491		12,968		27,711
Loans and leases
Commercial and industrial	3,249,252		3,040,547		2,884,373		2,736,613		2,552,686		2,979,273		2,790,733
Lease financing	203,790		158,667		134,334		115,703		67,537		153,380		67,822
Construction real estate	501,787		469,489		460,609		474,278		460,588		476,597		575,883
Commercial real estate	4,028,944		3,969,935		4,025,493		4,139,072		4,391,328		4,040,365		4,379,325
Residential real estate	1,066,859		998,476		936,165		903,567		917,399		976,775		943,981
Home equity	735,039		728,791		716,219		703,714		709,954		721,048		713,521
Installment	208,484		164,063		140,145		125,579		106,188		159,807		91,642
Credit card	56,325		54,946		55,036		52,659		53,056		54,752		49,617
Total loans	10,050,480		9,584,914		9,352,374		9,251,185		9,258,736		9,561,997		9,612,524
Less:
Allowance for credit losses	(127,541)		(119,000)		(123,950)		(129,601)		(144,756)		(125,001)		(162,477)
Net loans	9,922,939		9,465,914		9,228,424		9,121,584		9,113,980		9,436,996		9,450,047
Premises and equipment	189,342		190,738		191,895		192,832		192,941		191,191		198,425
Operating leases	88,365		83,970		73,862		61,297		659		76,967		166
Goodwill	998,575		999,690		999,958		1,000,238		938,453		999,611		937,943
Other intangibles	95,256		97,781		100,354		103,033		71,006		99,081		73,496
Accrued interest and other assets	1,168,908		986,927		915,153		867,253		931,379		985,393		955,961
Total Assets	$	16,767,598	$	16,385,989	$	16,185,978	$	16,184,919	$	16,036,417	$	16,382,730	$	16,072,360
LIABILITIES
Deposits
Interest-bearing demand	$	3,103,091	$	3,105,547	$	3,180,846	$	3,246,919	$	3,069,416	$	3,158,560	$	2,988,359
Savings	3,943,342		4,036,565		4,076,380		4,145,615		4,195,504		4,049,883		4,065,654
Time	1,360,681		1,052,669		1,055,650		1,231,266		1,428,872		1,175,086		1,601,295
Total interest-bearing deposits	8,407,114		8,194,781		8,312,876		8,623,800		8,693,792		8,383,529		8,655,308
Noninterest-bearing	4,225,192		4,176,242		4,224,842		4,160,175		4,191,457		4,196,735		4,005,034
Total deposits	12,632,306		12,371,023		12,537,718		12,783,975		12,885,249		12,580,264		12,660,342
Federal funds purchased and securities sold
under agreements to repurchase	16,167		32,637		24,229		45,358		79,382		29,526		160,967
FHLB short-term borrowings	944,320		892,786		586,846		257,800		2,445		672,928		43,371
Other	184,439		131,237		109,353		33,297		654		115,041		165
Total short-term borrowings	1,144,926		1,056,660		720,428		336,455		82,481		817,495		204,503
Long-term debt	344,162		350,058		359,168		385,240		314,262		359,518		442,720
Total borrowed funds	1,489,088		1,406,718		1,079,596		721,695		396,743		1,177,013		647,223
Accrued interest and other liabilities	636,640		519,069		468,994		453,754		512,605		520,114		504,988
Total Liabilities	14,758,034		14,296,810		14,086,308		13,959,424		13,794,597		14,277,391		13,812,553
SHAREHOLDERS' EQUITY
Common stock	1,632,941		1,631,078		1,635,990		1,638,321		1,637,828		1,634,558		1,636,126
Retained earnings	941,987		899,524		866,910		841,652		822,500		887,826		772,063
Accumulated other comprehensive loss	(361,284)		(236,566)		(190,949)		(38,448)		8,542		(207,778)		28,317
Treasury stock, at cost	(204,080)		(204,857)		(212,281)		(216,030)		(227,050)		(209,267)		(176,699)
Total Shareholders' Equity	2,009,564		2,089,179		2,099,670		2,225,495		2,241,820		2,105,339		2,259,807
Total Liabilities and Shareholders' Equity	$	16,767,598	$	16,385,989	$	16,185,978	$	16,184,919	$	16,036,417	$	16,382,730	$	16,072,360

7

FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE/VOLUME ANALYSIS
(Dollars in thousands)
(Unaudited)
	Quarterly Averages																		Year-to-Date Averages
	December 31, 2022						September 30, 2022						December 31, 2021						December 31, 2022				December 31, 2021
	Balance		Interest		Yield		Balance		Interest		Yield		Balance		Interest		Yield		Balance		Yield		Balance		Yield
Earning assets
Investments:
Investment securities	$	3,705,304	$	34,353	3.68	%	$	4,003,472	$	31,345	3.11	%	$	4,343,513	$	25,120	2.29	%	$	4,032,046	3.00	%	$	4,113,240	2.37	%
Interest-bearing deposits with other banks	372,054		3,262		3.48	%	317,146		1,597		2.00	%	166,904		71		0.17	%	314,552		1.74	%	73,170		0.20	%
Gross loans (1)	10,059,119		152,299		6.01	%	9,597,197		122,170		5.05	%	9,283,227		92,682		3.96	%	9,574,965		4.79	%	9,640,235		4.00	%
Total earning assets	14,136,477		189,914		5.33	%	13,917,815		155,112		4.42	%	13,793,644		117,873		3.39	%	13,921,563		4.20	%	13,826,645		3.49	%
Nonearning assets
Allowance for credit losses	(127,541)						(119,000)						(144,756)						(125,001)				(162,477)
Cash and due from banks	218,216						228,068						253,091						233,925				242,201
Accrued interest and other assets	2,540,446						2,359,106						2,134,438						2,352,243				2,165,991
Total assets	$	16,767,598					$	16,385,989					$	16,036,417					$	16,382,730			$	16,072,360
Interest-bearing liabilities
Deposits:
Interest-bearing demand	$	3,103,091	$	5,195	0.66	%	$	3,105,547	$	2,404	0.31	%	$	3,069,416	$	461	0.06	%	$	3,158,560	0.28	%	$	2,988,359	0.06	%
Savings	3,943,342		4,819		0.48	%	4,036,565		2,199		0.22	%	4,195,504		901		0.09	%	4,049,883		0.22	%	4,065,654		0.10	%
Time	1,360,681		6,154		1.79	%	1,052,669		1,783		0.67	%	1,428,872		1,727		0.48	%	1,175,086		0.88	%	1,601,295		0.52	%
Total interest-bearing deposits	8,407,114		16,168		0.76	%	8,194,781		6,386		0.31	%	8,693,792		3,089		0.14	%	8,383,529		0.34	%	8,655,308		0.17	%
Borrowed funds
Short-term borrowings	1,144,926		11,091		3.84	%	1,056,660		6,158		2.31	%	82,481		10		0.05	%	817,495		2.34	%	204,503		0.10	%
Long-term debt	344,162		4,759		5.49	%	350,058		4,676		5.30	%	314,262		3,968		5.01	%	359,518		5.17	%	442,720		3.72	%
Total borrowed funds	1,489,088		15,850		4.22	%	1,406,718		10,834		3.06	%	396,743		3,978		3.98	%	1,177,013		3.20	%	647,223		2.57	%
Total interest-bearing liabilities	9,896,202		32,018		1.28	%	9,601,499		17,220		0.71	%	9,090,535		7,067		0.31	%	9,560,542		0.69	%	9,302,531		0.33	%
Noninterest-bearing liabilities
Noninterest-bearing demand deposits	4,225,192						4,176,242						4,191,457						4,196,735				4,005,034
Other liabilities	636,640						519,069						512,605						520,114				504,988
Shareholders' equity	2,009,564						2,089,179						2,241,820						2,105,339				2,259,807
Total liabilities & shareholders' equity	$	16,767,598					$	16,385,989					$	16,036,417					$	16,382,730			$	16,072,360
Net interest income	$	157,896					$	137,892					$	110,806					$	519,143			$	452,118
Net interest spread					4.05	%					3.71	%					3.08	%			3.51	%			3.16	%
Net interest margin					4.43	%					3.93	%					3.19	%			3.73	%			3.27	%
Tax equivalent adjustment					0.04	%					0.05	%					0.04	%			0.04	%			0.04	%
Net interest margin (fully tax equivalent)					4.47	%					3.98	%					3.23	%			3.77	%			3.31	%
(1) Loans held for sale and nonaccrual loans are included in gross loans.

8

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	$	5,772	$	(2,764)	$	3,008	$	15,150	$	(5,917)	$	9,233	$	25,677	$	(2,432)	$	23,245
Interest-bearing deposits with other banks	1,184		481		1,665		1,392		1,799		3,191		1,129		4,208		5,337
Gross loans (2)	23,135		6,994		30,129		47,870		11,747		59,617		76,334		(3,127)		73,207
Total earning assets	30,091		4,711		34,802		64,412		7,629		72,041		103,140		(1,351)		101,789
Interest-bearing liabilities
Total interest-bearing deposits	$	9,374	$	408	$	9,782	$	13,630	$	(551)	$	13,079	$	14,617	$	(912)	$	13,705
Borrowed funds
Short-term borrowings	4,078		855		4,933		789		10,292		11,081		4,588		14,346		18,934
Long-term debt	165		(82)		83		378		413		791		6,427		(4,302)		2,125
Total borrowed funds	4,243		773		5,016		1,167		10,705		11,872		11,015		10,044		21,059
Total interest-bearing liabilities	13,617		1,181		14,798		14,797		10,154		24,951		25,632		9,132		34,764
Net interest income (1)	$	16,474	$	3,530	$	20,004	$	49,615	$	(2,525)	$	47,090	$	77,508	$	(10,483)	$	67,025
(1) Not tax equivalent.
(2) Loans held for sale and nonaccrual loans are included in gross loans.

9

FIRST FINANCIAL BANCORP.
CREDIT QUALITY
(Dollars in thousands)
(Unaudited)
	Dec. 31,			Sep. 30,			June 30,			Mar. 31,			Dec. 31,			Full Year			Full Year
	2022			2022			2022			2022			2021			2022			2021
ALLOWANCE FOR CREDIT LOSS ACTIVITY
Balance at beginning of period	$	124,096		$	117,885		$	124,130		$	131,992		$	148,903		$	131,992		$	175,679
Purchase accounting ACL for PCD	0			0			0			0			17			0			17
Provision for credit losses	8,689			7,898			(4,267)			(5,589)			(9,525)			6,731			(19,024)
Gross charge-offs
Commercial and industrial	334			1,947			773			2,845			1,364			5,899			15,620
Lease financing	0			13			8			131			0			152			0
Construction real estate	0			0			0			0			1,496			0			1,498
Commercial real estate	245			3			3,419			0			9,150			3,667			13,471
Residential real estate	79			119			4			22			6			224			127
Home equity	72			45			22			21			22			160			1,073
Installment	717			294			361			177			184			1,549			334
Credit card	212			237			212			246			149			907			780
Total gross charge-offs	1,659			2,658			4,799			3,442			12,371			12,558			32,903
Recoveries
Commercial and industrial	293			90			177			379			201			939			1,612
Lease financing	0			13			3			33			0			49			0
Construction real estate	0			0			0			0			0			0			3
Commercial real estate	1,327			561			2,194			222			4,292			4,304			4,785
Residential real estate	15			35			34			90			74			174			228
Home equity	88			185			360			265			303			898			1,223
Installment	68			29			47			21			27			165			151
Credit card	60			58			6			159			71			283			221
Total recoveries	1,851			971			2,821			1,169			4,968			6,812			8,223
Total net charge-offs	(192)			1,687			1,978			2,273			7,403			5,746			24,680
Ending allowance for credit losses	$	132,977		$	124,096		$	117,885		$	124,130		$	131,992		$	132,977		$	131,992
NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)
Commercial and industrial	0.01		%	0.24		%	0.08		%	0.37		%	0.18		%	0.17		%	0.50		%
Lease financing	0.00		%	0.00		%	0.01		%	0.34		%	0.00		%	0.07		%	0.00		%
Construction real estate	0.00		%	0.00		%	0.00		%	0.00		%	1.29		%	0.00		%	0.26		%
Commercial real estate	(0.11)		%	(0.06)		%	0.12		%	(0.02)		%	0.44		%	(0.02)		%	0.20		%
Residential real estate	0.02		%	0.03		%	(0.01)		%	(0.03)		%	(0.03)		%	0.01		%	(0.01)		%
Home equity	(0.01)		%	(0.08)		%	(0.19)		%	(0.14)		%	(0.16)		%	(0.10)		%	(0.02)		%
Installment	1.24		%	0.64		%	0.90		%	0.50		%	0.59		%	0.87		%	0.20		%
Credit card	1.07		%	1.29		%	1.50		%	0.67		%	0.58		%	1.14		%	1.13		%
Total net charge-offs	(0.01)		%	0.07		%	0.08		%	0.10		%	0.32		%	0.06		%	0.26		%
COMPONENTS OF NONPERFORMING LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans (1)
Commercial and industrial	$	8,242		$	8,719		$	11,675		$	14,390		$	17,362		$	8,242		$	17,362
Lease financing	178			199			217			249			203			178			203
Construction real estate	0			0			0			0			0			0			0
Commercial real estate	5,786			13,435			14,650			19,843			19,512			5,786			19,512
Residential real estate	10,691			10,250			8,879			7,432			8,305			10,691			8,305
Home equity	3,123			3,445			3,331			3,377			2,922			3,123			2,922
Installment	603			279			170			163			88			603			88
Nonaccrual loans	28,623			36,327			38,922			45,454			48,392			28,623			48,392
Accruing troubled debt restructurings (TDRs)	10,960			11,022			11,225			8,055			11,616			10,960			11,616
Total nonperforming loans	39,583			47,349			50,147			53,509			60,008			39,583			60,008
Other real estate owned (OREO)	191			22			22			72			98			191			98
Total nonperforming assets	39,774			47,371			50,169			53,581			60,106			39,774			60,106
Accruing loans past due 90 days or more	857			139			142			180			137			857			137
Total underperforming assets	$	40,631		$	47,510		$	50,311		$	53,761		$	60,243		$	40,631		$	60,243
Total classified assets	$	128,137		$	114,956		$	119,769		$	106,839		$	104,815		$	128,137		$	104,815
CREDIT QUALITY RATIOS
Allowance for credit losses to
Nonaccrual loans	464.58		%	341.61		%	302.87		%	273.09		%	272.76		%	464.58		%	272.76		%
Nonperforming loans	335.94		%	262.09		%	235.08		%	231.98		%	219.96		%	335.94		%	219.96		%
Total ending loans	1.29		%	1.27		%	1.25		%	1.34		%	1.42		%	1.29		%	1.42		%
Nonperforming loans to total loans	0.38		%	0.48		%	0.53		%	0.58		%	0.65		%	0.38		%	0.65		%
Nonaccrual loans to total loans	0.28		%	0.37		%	0.41		%	0.49		%	0.52		%	0.28		%	0.52		%
Nonperforming assets to
Ending loans, plus OREO	0.39		%	0.48		%	0.53		%	0.58		%	0.65		%	0.39		%	0.65		%
Total assets	0.23		%	0.28		%	0.31		%	0.33		%	0.37		%	0.23		%	0.37		%
Nonperforming assets, excluding accruing TDRs to
Ending loans, plus OREO	0.28		%	0.37		%	0.41		%	0.49		%	0.52		%	0.28		%	0.52		%
Total assets	0.17		%	0.22		%	0.24		%	0.28		%	0.30		%	0.17		%	0.30		%
Classified assets to total assets	0.75		%	0.69		%	0.74		%	0.67		%	0.64		%	0.75		%	0.64		%
(1) Nonaccrual loans include nonaccrual TDRs of $10.0 million, $12.8 million, $9.5 million, $16.2 million, and $16.0 million, as of December 31, 2022, September 30, 2022, June 30, 2022, March 31, 2022, and December 31, 2021, respectively.

10

FIRST FINANCIAL BANCORP.
CAPITAL ADEQUACY
(Dollars in thousands, except per share data)
(Unaudited)
																Twelve months ended,
	Dec. 31,			Sep. 30,			June 30,			Mar. 31,			Dec. 31,			Dec. 31,			Dec. 31,
	2022			2022			2022			2022			2021			2022			2021
PER COMMON SHARE
Market Price
High	$	26.68		$	23.75		$	23.03		$	26.73		$	25.79		$	26.73		$	26.40
Low	$	21.56		$	19.02		$	19.09		$	22.92		$	22.89		$	19.02		$	17.62
Close	$	24.23		$	21.08		$	19.40		$	23.05		$	24.38		$	24.23		$	24.38
Average shares outstanding - basic	93,590,674			93,582,250			93,555,131			93,383,932			92,903,900			93,528,712			95,034,690
Average shares outstanding - diluted	94,831,788			94,793,766			94,449,817			94,263,925			93,761,909			94,586,851			95,897,385
Ending shares outstanding	94,891,099			94,833,964			94,448,792			94,451,496			94,149,240			94,891,099			94,149,240
Total shareholders' equity	$	2,041,373		$	1,994,132		$	2,068,670		$	2,137,445		$	2,258,942		$	2,041,373		$	2,258,942
REGULATORY CAPITAL	Preliminary															Preliminary
Common equity tier 1 capital	$	1,399,420		$	1,348,413		$	1,307,259		$	1,272,115		$	1,262,789		$	1,399,420		$	1,262,789
Common equity tier 1 capital ratio	10.83		%	10.82		%	10.91		%	10.87		%	10.85		%	10.83		%	10.85		%
Tier 1 capital	$	1,443,698		$	1,392,565		$	1,351,287		$	1,316,020		$	1,306,571		$	1,443,698		$	1,306,571
Tier 1 ratio	11.17		%	11.17		%	11.28		%	11.24		%	11.22		%	11.17		%	11.22		%
Total capital	$	1,762,971		$	1,711,741		$	1,670,367		$	1,635,003		$	1,642,549		$	1,762,971		$	1,642,549
Total capital ratio	13.64		%	13.73		%	13.94		%	13.97		%	14.11		%	13.64		%	14.11		%
Total capital in excess of minimum requirement	$	406,032		$	402,662		$	412,167		$	405,931		$	420,118		$	406,032		$	420,118
Total risk-weighted assets	$	12,923,233		$	12,467,422		$	11,982,860		$	11,705,447		$	11,642,201		$	12,923,233		$	11,642,201
Leverage ratio	8.89		%	8.88		%	8.76		%	8.64		%	8.70		%	8.89		%	8.70		%
OTHER CAPITAL RATIOS
Ending shareholders' equity to ending assets	12.01		%	12.00		%	12.74		%	13.35		%	13.83		%	12.01		%	13.83		%
Ending tangible shareholders' equity to ending tangible assets (1)	5.95		%	5.79		%	6.40		%	6.95		%	7.58		%	5.95		%	7.58		%
Average shareholders' equity to average assets	11.98		%	12.75		%	12.97		%	13.75		%	13.98		%	12.85		%	14.06		%
Average tangible shareholders' equity to average tangible assets (1)	5.84		%	6.49		%	6.62		%	7.44		%	8.20		%	6.59		%	8.29		%
REPURCHASE PROGRAM (2)
Shares repurchased	0			0			0			0			0			0			4,633,355
Average share repurchase price	N/A			N/A			N/A			N/A			N/A			N/A			$	23.33
Total cost of shares repurchased	N/A			N/A			N/A			N/A			N/A			N/A			$	108,077
(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

11

EX-99.2

earnings presentation • Fourth Quarter 2022 Exhibit 99.2

forward looking statements disclosure 2 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; (iv) 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, 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;

forward looking statements disclosure 3 • 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, 2021, 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.

4Q 2022 results 129th Consecutive Quarter of Profitability 4 • EOP assets increased $379.5 million compared to the linked quarter to $17.0 billion • EOP loans increased $501.5 million compared to the linked quarter to $10.3 billion • Average deposits increased $261.3 million compared to the linked quarter to $12.6 billion • EOP investment securities decreased $119.1 million compared to the linked quarter Balance Sheet Profitability Asset Quality Income Statement Capital • Noninterest income - $56.0 million; $55.1 million as adjusted1 • Noninterest expense - $124.4 million; $117.3 million as adjusted1 • Efficiency ratio - 58.17%. Adjusted1 efficiency ratio - 55.08% • Effective tax rate of 13.1%. Adjusted1 effective tax rate of 19.5% • Net interest income - $157.9 million • Net interest margin of 4.43% on a GAAP basis; 4.47% on a fully tax equivalent basis1 • Net income - $69.1 million or $0.73 per diluted share. Adjusted1 net income - $68.9 million or $0.73 per diluted share • Return on average assets - 1.63%. • Return on average shareholders’ equity - 13.64%. Adjusted1 return on average shareholders’ equity - 13.61% • Return on average tangible common equity - 29.93%1. Adjusted1 return on average tangible common equity - 29.86% • Provision expense - $10.0 million • Net charge-offs – ($0.2) million. NCOs / Avg. Loans – (0.01%) annualized • Classified Assets / Total Assets - 0.75% • NPA / Total Assets – 0.23% • ACL / Total Loans – 1.29% • Total capital ratio – 13.64% • Tier 1 common equity ratio – 10.83% • Tangible common equity ratio – 5.95%. Adjusted1 Tangible common equity ratio– 8.20% • Tangible book value per share – $9.97 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation.

4Q 2022 highlights • Quarterly earnings driven by strong net interest margin and record fee income • Adjusted1 earnings per share - $0.73 • Adjusted1 return on assets - 1.63% • Adjusted1 pre-tax, pre-provision return on assets – 2.26% • Adjusted1 return on average tangible common equity – 29.86% • End of period loan balances increased with strong origination volumes across the portfolio • EOP loan balances increased $501.5 million compared to the linked quarter; 20.3% on an annualized basis • Broad based portfolio growth included a $150.2 million increase in C&I; a $129.7 million increase in finance leases; a $111.2 million increase in ICRE; a $65.4 million increase in residential mortgage loans, and a $60.4 million increase in Oak Street • Total average deposit balances increased $261.3 million, or 8.4% annualized • Stable core deposit balances; $58.0 million decline in total deposit balances, excluding $319.3 million increase in brokered CD’s • $49.0 million in noninterest bearing deposit growth from linked quarter • Average noninterest bearing deposits were 33.4% of average total deposits • Accelerating 4.47% net interest margin (FTE) • 49 bp increase from third quarter driven by increase in interest rates and asset sensitive balance sheet • 96 bp increase in loan yields offset 31 bp increase in cost of deposits • Adjusted1 noninterest income of $55.1 million • Record foreign exchange income of $19.6 million, an increase of $7.8 million, or 66.7%, from linked quarter • Record leasing business revenue of $11.1 million, an increase of $4.0 million, or 56.1% compared to linked quarter • Adjusted1 for $0.9 million gain on investment securities 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. 2The fair value measurements of assets acquired and liabilities assumed in the Summit acquisition are subject to refinement for up to one year after the closing date of the acquisition as additional information relative to closing date fair values becomes available. These fair value measurements are considered final as of December 31, 2022. 5

4Q 2022 highlights • Adjusted1 noninterest expense of $117.3 million • Adjusted1 for $6.4 million in tax credit investment writedowns and $0.7 million of other costs not expected to recur such as acquisition, severance and branch consolidation costs • Increase compared to linked quarter driven by elevated incentive costs tied to record foreign exchange income and overall Company performance during the period • $2.5 million contribution to First Financial Foundation • Efficiency ratio of 58.2%; 55.1% as adjusted1 • Allowance for credit loss (ACL) and provision expense increased compared to linked quarter • Total ACL of $151.4 million; provision expense of $10.0 million o Loans and leases - ACL of $133.0 million; 1.29% of total loans o Unfunded Commitments - ACL of $18.4 million • Increase in provision expense driven by loan grown, slowing prepayments and economic forecasts • NPA to total assets of 0.23% • Net recoveries for the quarter of 1 bp of average loans and leases • Nonaccrual loans of $28.6 million; $7.7 million, or 21.2%, decline compared to linked quarter • Regulatory capital ratios in excess of internal targets • Total capital ratio of 13.64% • Tier 1 common equity of 10.83%; 1 basis point increase from linked quarter • Tangible book value increased by $0.49 to $9.97 due to strong earnings • Tangible common equity increased 16 bps to 5.95%; 8.20%1 excluding ($358.7) million of AOCI • No shares repurchased in fourth quarter 6 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. 2The fair value measurements of assets acquired and liabilities assumed in the Summit acquisition are subject to refinement for up to one year after the closing date of the acquisition as additional information relative to closing date fair values becomes available. These fair value measurements are considered final as of December 31, 2022. .

adjusted net income1 7 The table below lists certain adjustments that the Company believes are significant to understanding its quarterly performance. 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliations. All dollars shown in thousands, except per share amounts As Reported Adjusted 1 As Reported Adjusted 1 Net interest income 157,896$ 157,896$ 137,892$ 137,892$ Provision for credit losses-loans and leases 8,689$ 8,689$ 7,898$ 7,898$ Provision for credit losses-unfunded commitments 1,341$ 1,341$ 386$ 386$ Noninterest income 56,035$ 56,035$ 42,534$ 42,534$ less: gains (losses) on investment securities - 922 A - (880) A Total noninterest income 56,035$ 55,113$ 42,534$ 43,414$ Noninterest expense 124,442$ 124,442$ 125,068$ 125,068$ less: tax credit investment - 6,406 A - 17,212 A less: Summit acquistion costs - 149 A - 76 A less: other - 558 A - 1,671 A Total noninterest expense 124,442$ 117,329$ 125,068$ 106,109$ Income before income taxes 79,459$ 85,650$ 47,074$ 66,913$ Income tax expense 10,373$ 10,373$ (8,631)$ (8,631)$ plus: after-tax impact of tax credit investment @ 21% - 5,061 - 13,598 plus: tax effect of adjustments (A) @ 21% statutory rate - 1,300 - 4,166 Total income tax expense 10,373$ 16,734$ (8,631)$ 9,133$ Net income 69,086$ 68,916$ 55,705$ 57,780$ Net earnings per share - diluted 0.73$ 0.73$ 0.59$ 0.61$ Pre-tax, pre-provision return on average assets 2.12% 2.26% 1.34% 1.82% 4Q 2022 3Q 2022

profitability 8 Return on Average Assets Return on Avg Tangible Common Equity Diluted EPS 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation. Efficiency Ratio $0.73 $0.59$0.55 $0.44$0.50 $0.73  $0.61  $0.56  $0.46  $0.58  4Q223Q222Q221Q224Q21 Diluted EPS Adjusted EPS 1 1.63% 1.35%1.28% 1.03%1.16% 1.63% 1.40% 1.31% 1.09% 1.34% 4Q223Q222Q221Q224Q21 ROA Adjusted ROA 1 29.93% 22.29%20.68% 14.93%15.11% 29.86% 23.12%21.26% 15.75% 17.43% 4Q223Q222Q221Q224Q21 ROATCE Adjusted ROATCE 1 70.1% 69.6% 61.8% 69.3% 58.2%60.2% 67.7% 60.9% 58.5% 55.1% 4Q21 1Q22 2Q22 3Q22 4Q22 Efficiency Ratio Adjusted Efficiency Ratio 1

net interest income & margin 9 Net Interest Margin (FTE) 4Q22 NIM (FTE) Progression Net Interest Income All dollars shown in millions $5.0 $4.2 $3.9 $3.7$6.5 $1.2 $2.3 $2.6 $2.2$2.3 $5.6 $157.9 $137.9 $117.0 $106.3 $110.8 4Q223Q222Q221Q224Q21 Loan Fees Loan Accretion PPP Interest/Fees 3Q22 3.98% Asset yields/mix 0.90% Deposit/funding costs/mix -0.39% Accretion/other -0.02% 4Q22 4.47% 4.28% 3.78% 3.24% 2.93%2.82% 0.15% 0.12% 0.11% 0.11%0.18% 0.04% 0.07% 0.08% 0.07%0.07% 0.16% 4.47% 3.98% 3.45% 3.16%3.23% 4Q223Q222Q221Q224Q21 Basic Margin (FTE) Loan Fees Loan Accretion PPP Fees

average balance sheet 10 Average Loans Average Securities Average Deposits All dollars shown in millions 1 Includes loans fees and loan accretion $12,632$12,371$12,538$12,784$12,885 0.51% 0.20% 0.09%0.08%0.10% 4Q223Q222Q221Q224Q21 Total Deposits Cost of Deposits $10,059$9,597$9,368$9,267$9,283 6.01% 5.05% 4.16%3.82%3.96% 4Q223Q222Q221Q224Q21 Gross Loans Loan Yield (Gross) 1 $3,705$4,003$4,118$4,308$4,344 3.68% 3.11% 2.78% 2.50% 2.29% 4Q223Q222Q221Q224Q21 Average Investment Securities Investment Securities Yield

11 1NII – Year 1 impact, represents percentage change for immediate parallel changes in rates 2Reflects percentage of loans classified as variable rate and repricing in ≤ 1yr, hybrid variable rate repricing in > 1yr, or fixed rate, including loans held for sale 3Schedule reflects remaining maturity or repricing frequency for all fixed rate loans or hybrid variable rate loans repricing in > 1yr, including loans held for sale asset sensitive balance sheet positioning Net Interest Income Sensitivity 1 Loans - Variable Exposure2 Fixed/Hybrid Years to Maturity/Repricing3 ‐6.7% 4.5% 8.2% ‐100 bps +100 bps +200 bps 11% 7% 9% 73% ≤1 yr 1-2 yrs 2-3 yrs > 3 yrs Variable ≤ 1yr 65% Hybrid >  1yr 8% Fixed 27%

liquidity and beta profile 12 1Historical data adjusted for the merger with MainSource Financial Group, Inc. using the sum of the individual components. Historical Deposit and Loan Betas1 Total Deposit Beta Loan Beta Liquidity Trends 26% 28% 29% 30% 29% 28% 26% 25% 1Q21 2Q21 3Q21 4Q21  1Q22  2Q22  3Q22  4Q22 Cash + Securities / Assets 79% 76% 74% 72% 72% 77% 79% 81% 1Q21 2Q21 3Q21 4Q21  1Q22  2Q22  3Q22  4Q22 Loans / Deposits Ratio 53.1% 79.0% 62.1% 3Q15‐2Q19 Fed Cycle (+225bps) 3Q19‐4Q21 Fed Cycle (‐225bps) 1Q22‐4Q22 Fed Cycle (+425bps) 24% 31% 10% 3Q15‐2Q19 Fed Cycle (+225bps) 3Q19‐4Q21 Fed Cycle (‐225bps) 1Q22‐4Q22 Fed Cycle (+425bps)

13 Liquidity Sources Available Borrowing Capacity Liquidity Sources • In addition to deposits, First Financial has approximately $6.0 billion of readily available funding sources to meet customer needs through the following sources: • Interest-bearing deposits with other banks • Fed funds • FHLB funding • Brokered CDs • Highly liquid securities • Fed discount window • Investment securities portfolio: • $814 million of expected cash flow from securities portfolio in next 12 months • $371 million of securities available to be sold at breakeven • Portfolio duration of 4.6 years at 12/31 liquidity and borrowing capacity Investment Liquidity (dollars shown in thousands) (dollars shown in billions) Interest-bearing deposits with other banks 387,982$ Fed funds 1,688,000 Unpledged investment securities 1,931,516 FHLB borrowing availability 347,435 Brokered CDs 959,090 Funds available through Fed Discount Window 714,623 Total as of December 31, 2022 6,028,646$ $4.6  $4.5  $4.6  $4.8  $5.1  $4.5  $4.3  $3.7  1Q21 2Q21 3Q21  4Q21  1Q22  2Q22  3Q22  4Q22 Available borrowing capacity

loan portfolio 14 Loan LOB Mix (EOP) Net Loan Change-LOB (Linked Quarter) All dollars shown in millions Total growth/(decline): $501.5 million ICRE $3,526  34% Commercial &  Small Business  Banking $3,362  33% Oak Street $670  7% Franchise $276  3% Summit $307  3% Consumer $972  9% Mortgage $1,183  11% PPP $3  0% Total $10.3 Billion 1 $111.2 $150.2 $60.4 ‐$19.7 $129.7 $5.2 $65.4 ‐$0.9 ICRE Commercial & Small Business Banking Oak Street Franchise Summit Consumer Mortgage PPP

loan concentrations 15 C&I and Owner Occupied CRE Loans by Sector1 Investor CRE Loans by Property Type All dollars shown in millions 1 Excludes Summit Funding Group Property Type 12/31/22 % of Total Loans Residential Multi Family 5+ $952.5 9.24% Retail Property 790.2 7.67% Office 555.2 5.39% Hospital/Nursing Home 343.9 3.34% Industrial 341.9 3.32% Hotel 291.3 2.83% Residential 1-4 Family 90.4 0.88% Land 85.9 0.83% Other Real Estate 51.2 0.50% Other 23.2 0.23% Grand Total $3,525.8 34.21% NAICS Sector 12/31/22 % of Total Loans Finance and Insurance $787.0 7.64% Real Estate and Rental and Leasing 768.7 7.46% Manufacturing 591.7 5.74% Accommodation and Food Services 349.9 3.39% Health Care and Social Assistance 253.6 2.46% Construction 219.3 2.13% Retail Trade 199.6 1.94% Professional, Scientific, and Technical Services 190.6 1.85% Other Services (except Public Administration) 159.2 1.54% Agriculture, Forestry, Fishing and Hunting 145.4 1.41% Wholesale Trade 139.7 1.36% Transportation and Warehousing 122.3 1.19% Administrative and Support and Waste Management 89.0 0.86% Arts, Entertainment, and Recreation 73.3 0.71% Public Administration 67.5 0.65% Other 154.2 1.50% Grand Total $4,311.0 41.83%

deposits 16 Deposit Product Mix (Avg) 4Q22 Average Deposit Progression All dollars shown in millions Total growth/(decline): $261.3 million ‐$90.1 $49.0 $9.3 ‐$63.4 ‐$8.1 $319.3 $45.3 Interest‐bearing demand Noninterest‐bearing Savings Money Markets Retail CDs Brokered CDs Public Funds Interest‐bearing  demand $1,791  14% Noninterest‐ bearing $4,225  33% Savings $1,399  11% Money Markets $2,113  17% Retail CDs $841  7% Brokered CDs $446  4% Public Funds $1,817  14% Total $12.6 billion                                    

noninterest income 17 Noninterest Income 4Q22 Highlights All dollars shown in thousands • Total fee income 26.2% of net revenue • Record foreign exchange income of $19.6 million; increased $7.8 million, or 66.7%, from linked quarter • Record leasing business income of $11.1 million; increased $4.0 million, or 56.1%, from the linked quarter • Trust and wealth management fees of $5.6 million increased $0.2 million, or 2.9%, from the linked quarter • Deposit service charge income of $6.4 million; increased $0.1 million, or 2.0%, from the linked quarter • Mortgage banking income of $2.2 million; decreased $1.5 million, or 40.8%, from the linked quarter • Client derivative income of $1.8 million; $0.4 million, or 25.9%, increase from the linked quarter Service Charges $6,406  11% Wealth Mgmt $5,648  10% Bankcard income $3,736  7% Client derivative  fees $1,822  3% Foreign  exchange income $19,592  35% Leasing  business income $11,124  20% Mortgage  origination income $2,206  4% Other  $5,501  10% Total $56.0 million

noninterest expense 18 Noninterest Expense 4Q22 Highlights All dollars shown in thousands • Core expenses increased due to elevated incentive costs tied to record foreign exchange income during the period and overall Company performance • $2.5 million contribution to First Financial Foundation • Adjustments include: • $6.4 million of tax credit investment writedowns • $0.7 million of other costs not expected to recur such as acquisition, branch consolidation and severance costs Salaries and  benefits $73,621  59% Occupancy  and  equipment $8,668  7% Data processing $8,567  7% Professional  services $3,015  2% Intangible  amortization $2,573  2% Leasing business  expense $6,061  5% Other $21,937  18% Total $124.4 million

current expected credit losses - loans and leases 19 ACL / Total Loans 4Q22 Highlights All dollars shown in thousands • $151.4 million combined ACL; $10.0 million combined provision expense • $133.0 million ACL – loans and leases; increase driven by strong loan growth and slower prepayment rates; 1.29% of loan balances • Utilized Moody’s December baseline forecast in quantitative model • $18.4 million ACL – unfunded commitments ACL by Loan Type All dollars shown in millions 4Q21 1Q22 2Q22 3Q22 4Q22 Loans Commercial and industrial 44,052$              37,783$              39,179$              41,032$              42,313$              Lease financing 1,633                    2,093                    2,212                    2,450                    3,571                    Real estate ‐construction 11,874                 11,410                 11,965                 14,046                 13,527                 Real estate ‐ commercial 53,420                 51,512                 39,856                 38,071                 41,106                 Real estate ‐ residential 6,225                    6,152                    7,383                    9,422                    12,684                 Home equity 9,643                    9,676                    10,980                 11,620                 12,447                 Installment  1,097                    1,075                    1,189                    4,855                    4,945                    Credit card 4,048                    4,429                    5,121                    2,600                    2,384                    ACL‐loan and lease losses  131,992$           124,130$           117,885$           124,096$           132,977$               ACL‐unfunded commitments  13,406$              13,179$              16,661$              17,046$              18,388$              $133.0$124.1$117.9$124.1$132.0 1.29%1.27%1.25% 1.34%1.42% 4Q223Q222Q221Q224Q21 Allowance for Credit Losses ACL / Total Loans

asset quality 20 Nonperforming Assets / Total AssetsClassified Assets / Total Assets Net Charge Offs & Provision Expense1 . 1 Provision includes both loans & leases and unfunded commitments All dollars shown in millions $7.4  $2.3  $2.0  $1.7  $(0.2) ‐$7.7 ‐$5.8 ‐$0.8 $8.3 $10.0 ‐0.01% 0.07% 0.08%0.10% 0.32% 4Q21 1Q22 2Q22 3Q22 4Q22 NCOs Provision Expense NCOs / Average Loans $39.8 $47.4$50.2$53.6 $60.1 0.23%0.28%0.31%0.33%0.37% 4Q223Q222Q221Q224Q21 NPAs NPAs / Total Assets $128.1 $115.0$119.8 $106.8$104.8 0.75%0.69%0.74%0.67%0.64% 4Q223Q222Q221Q224Q21 Classified Assets Classified Assets / Total Assets

capital 21 Tier 1 Common Equity Ratio Total Capital Ratio Tangible Common Equity Ratio 12/31 Risk Weighted Assets = $12,923,233 All capital numbers are considered preliminary. 1 Non-GAAP financial measure which management believes facilitates a better understanding of the Company’s financial condition. See Appendix for Non-GAAP reconciliation. Adjusted TCE excludes impact from AOCI Tier 1 Capital Ratio 10.83%10.82%10.91%10.87%10.85% 7.00% 4Q223Q222Q221Q224Q21 Tier 1 Common Equity Ratio Basel III minimum 11.17%11.17%11.28%11.24%11.22% 8.50% 4Q223Q222Q221Q224Q21 Tier 1 Capital Ratio Basel III minimum 13.64%13.73%13.94%13.97%14.11% 10.50% 4Q223Q222Q221Q224Q21 Total Capital Ratio Basel III minimum 7.58% 6.95% 6.40% 5.79% 5.95% 7.58% 7.90% 8.01% 8.07% 8.20% 4Q21 1Q22 2Q22 3Q22 4Q22 TCE ratio Adjusted TCE ratio1

capital strategy 22 Strategy & Deployment Tangible Book Value Per Share • 3.8% annualized dividend yield • 31.5% of 4Q22 earnings returned to shareholders through common dividend • Most recent internal stress testing indicates capital ratios above regulatory minimums in all modeled scenarios • Common dividend expected to remain unchanged in near-term • No shares repurchased in 4Q22; no plans to repurchase shares in near- term• Increase in TBV per share driven by strong earnings during the period $9.97  $9.48  $10.27  $10.97  $12.26  4Q223Q222Q221Q224Q21 Tangible Book Value per Share

outlook commentary1 • Loan balances expected to grow mid single digits in near term • Core deposit balances to moderately decline in near term 23 • Expected to be $109-111 million • Growth in leasing business expense as portfolio grows • Incentive expense will fluctuate with fee income Noninterest Expense Net Interest Margin Balance Sheet Credit • Continued stability in credit quality trends • ACL coverage expected to be slightly higher • Uncertainty regarding inflation and macroeconomic environment Noninterest Income • Total fee income expected to be $45-47 million • Foreign exchange income expected to return to historical levels in 1Q23 1 See Forward Looking Statement Disclosure on page 2-3 of this presentation for a discussion of factors that could affect management’s expectations and results in future periods. • Expected to be 4.50% - 4.60% • Likely to peak in 1Q dependent upon Fed action Capital • Expect to maintain dividend at current levels

The Company’s Investor Presentation contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States (GAAP). Such non-GAAP financial information should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. However, we believe that non-GAAP reporting provides meaningful information and therefore we use it to supplement our GAAP information. We have chosen to provide this supplemental information to investors, analysts and other interested parties to enable them to perform additional analyses of operating results, to illustrate the results of operations giving effect to the non-GAAP adjustments and to provide an additional measure of performance. We believe this information is helpful in understanding the results of operations separate and apart from items that may, or could, have a disproportional positive or negative impact in any given period. For a reconciliation of the differences between the non-GAAP financial measures and the most comparable GAAP measures, please refer to the following reconciliation tables. to GAAP Reconciliation 24 appendix: non-GAAP measures

appendix: non-GAAP to GAAP reconciliation 25 All dollars shown in thousands Net interest income and net interest margin - fully tax equivalent Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, 2022 2022 2022 2022 2021 Net interest income 157,896$ 137,892$ 117,010$ 106,345$ 110,806$ Tax equivalent adjustment 1,553 1,712 1,625 1,467 1,386 Net interest income - tax equivalent 159,449$ 139,604$ 118,635$ 107,812$ 112,192$ Average earning assets 14,136,477$ 13,917,815$ 13,780,243$ 13,848,596$ 13,793,644$ Net interest margin1 4.43 % 3.93 % 3.41 % 3.11 % 3.19 % Net interest margin (fully tax equivalent)1 4.47 % 3.98 % 3.45 % 3.16 % 3.23 % Three months ended 1 Margins are calculated using net interest income annualized divided by average earning assets. 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.

appendix: non-GAAP to GAAP reconciliation 26 All dollars shown in thousands Additional non-GAAP ratios Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, (Dollars in thousands, except per share data) 2022 2022 2022 2022 2021 Net income (a) 69,086$ 55,705$ 51,520$ 41,301$ 46,945$ Average total shareholders' equity 2,009,564 2,089,179 2,099,670 2,225,495 2,241,820 Less: Goodw ill (998,575) (999,690) (999,958) (1,000,238) (938,453) Other intangibles (95,256) (97,781) (100,354) (103,033) (71,006) Average tangible equity (b) 915,733 991,708 999,358 1,122,224 1,232,361 Total shareholders' equity 2,041,373 1,994,132 2,068,670 2,137,445 2,258,942 Less: Goodw ill (1,001,507) (998,422) (999,959) (999,959) (1,000,749) Other intangibles (93,919) (96,528) (99,019) (101,673) (104,367) Ending tangible equity (c) 945,947 899,182 969,692 1,035,813 1,153,826 Less: AOCI (358,663) (354,570) (243,328) (142,477) (433) Ending tangible equity less AOCI (d) 1,304,610 1,253,752 1,213,020 1,178,290 1,154,259 Total assets 17,003,316 16,623,793 16,243,714 16,009,150 16,329,141 Less: Goodw ill (1,001,507) (998,422) (999,959) (999,959) (1,000,749) Other intangibles (93,919) (96,528) (99,019) (101,673) (104,367) Ending tangible assets (e) 15,907,890 15,528,843 15,144,736 14,907,518 15,224,025 Risk-w eighted assets (f) 12,923,233 12,467,422 11,982,860 11,705,447 11,642,201 Total average assets 16,767,598 16,385,989 16,185,978 16,184,919 16,036,417 Less: Goodw ill (998,575) (999,690) (999,958) (1,000,238) (938,453) Other intangibles (95,256) (97,781) (100,354) (103,033) (71,006) Average tangible assets (g) 15,673,767$ 15,288,518$ 15,085,666$ 15,081,648$ 15,026,958$ Ending shares outstanding (h) 94,891,099 94,833,964 94,448,792 94,451,496 94,149,240 Ratios Return on average tangible shareholders' equity (a)/(b) 29.93% 22.29% 20.68% 14.93% 15.11% Ending tangible equity as a percent of: Ending tangible assets (c)/(e) 5.95% 5.79% 6.40% 6.95% 7.58% Risk-w eighted assets (c)/(f) 7.32% 7.21% 8.09% 8.85% 9.91% Ending tangible equity excluding AOCI as a percent of: Ending tangible assets (d)/(e) 8.20% 8.07% 8.01% 7.90% 7.58% Average tangible equity as a percent of average tangible assets (b)/(g) 5.84% 6.49% 6.62% 7.44% 8.20% Tangible book value per share (c)/(h) 9.97$ 9.48$ 10.27$ 10.97$ 12.26$ Three months ended,

appendix: non-GAAP to GAAP reconciliation 27 All dollars shown in thousands Additional non-GAAP measures 2Q22 1Q22 As Reported Adjusted As Reported Adjusted As Reported Adjusted As Reported Adjusted Net interest income (f) 157,896$ 157,896$ 137,892$ 137,892$ 117,010$ 117,010$ 106,345$ 106,345$ Provision for credit losses-loans and leases (j) 8,689 8,689 7,898 7,898 (4,267) (4,267) (5,589) (5,589) Provision for credit losses-unfunded commitments (j) 1,341 1,341 386 386 3,481 3,481 (226) (226) Noninterest income 56,035 56,035 42,534 42,534 49,778 49,778 41,294 41,294 less: gains (losses) on sale of investment securities 922 (880) (1,054) (196) less: other - - - - Total noninterest income (g) 56,035 55,113 42,534 43,414 49,778 50,832 41,294 41,490 Noninterest expense 124,442 124,442 125,068 125,068 103,034 103,034 102,805 102,805 less: tax credit investments 6,406 17,212 104 104 less: legal settlement - - - - less: Summit acquisition costs 149 76 100 323 less: COVID-19 and other 558 1,671 666 2,354 Total noninterest expense (e) 124,442 117,329 125,068 106,109 103,034 102,164 102,805 100,024 Income before income taxes (i) 79,459 85,650 47,074 66,913 64,540 66,464 50,649 53,626 Income tax expense 10,373 10,373 (8,631) (8,631) 13,020 13,020 9,348 9,348 plus: tax effect of adjustments 5,061 13,598 82 83 plus: after-tax impact of tax credit investments @ 21% 1,300 4,166 404 625 Total income tax expense (h) 10,373 16,734 (8,631) 9,133 13,020 13,506 9,348 10,056 Net income (a) 69,086$ 68,916$ 55,705$ 57,780$ 51,520$ 52,958$ 41,301$ 43,570$ Average diluted shares (b) 94,832 94,832 94,794 94,794 94,450 94,450 94,264 94,264 Average assets (c) 16,767,598 16,767,598 16,385,989 16,385,989 16,185,978 16,185,978 16,184,919 16,184,919 Average shareholders' equity 2,009,564 2,009,564 2,089,179 2,089,179 2,099,670 2,099,670 2,225,495 2,225,495 Less: Goodw ill and other intangibles (1,093,831) (1,093,831) (1,097,471) (1,097,471) (1,100,312) (1,100,312) (1,103,271) (1,103,271) Average tangible equity (d) 915,733 915,733 991,708 991,708 999,358 999,358 1,122,224 1,122,224 Ratios Net earnings per share - diluted (a)/(b) 0.73$ 0.73$ 0.59$ 0.61$ 0.55$ 0.56$ 0.44$ 0.46$ Return on average assets - (a)/(c) 1.63% 1.63% 1.35% 1.40% 1.28% 1.31% 1.03% 1.09% Pre-tax, pre-provision return on average assets - ((a)+(j)+(h))/(c) 2.12% 2.26% 1.34% 1.82% 1.58% 1.63% 1.12% 1.20% Return on average tangible shareholders' equity - (a)/(d) 29.93% 29.86% 22.29% 23.12% 20.68% 21.26% 14.93% 15.75% Efficiency ratio - (e)/((f)+(g)) 58.2% 55.1% 69.3% 58.5% 61.8% 60.9% 69.6% 67.7% Effective tax rate - (h)/(i) 13.1% 19.5% -18.3% 13.6% 20.2% 20.3% 18.5% 18.8% (Dollars in thousands, except per share data) 4Q22 3Q22

28 First Financial Bancorp First Financial Center 255 East Fifth Street Cincinnati, OH 45202

XML

Document and Entity Information Document	Jan. 26, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jan. 26, 2023
Entity Registrant Name	FIRST FINANCIAL BANCORP.
Entity Incorporation, State or Country Code	OH
Entity File Number	001-34762
Entity Tax Identification Number	31-1042001
Entity Address, Address Line One	255 East Fifth Street, Suite 800
Entity Address, City or Town	Cincinnati,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45202
City Area Code	877
Local Phone Number	322-9530
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000708955
Amendment Flag	false
NASDAQ/NMS (GLOBAL MARKET) [Member]
Entity Listings [Line Items]
Title of 12(b) Security	Common stock, No par value
Trading Symbol	FFBC
Security Exchange Name	NASDAQ