FIRST FINANCIAL BANCORP. (PARENT COMPANY ONLY) FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheet

Balance Sheets

	December 31,
(Dollars in thousands)	2022		2021
Assets
Cash	$	91,013	$	49,746
Investment securities	1,681		1,836
Subordinated notes from subsidiaries	7,500		7,500
Investment in subsidiaries
Commercial bank	2,161,338		2,447,095
Non-banks	11,246		10,417
Total investment in subsidiaries	2,172,584		2,457,512
Premises and equipment	283		1,311
Other assets	86,355		77,132
Total assets	$	2,359,416	$	2,595,037
Liabilities
Short-term borrowings	$	0	$	20,000
Subordinated notes	311,707		310,864
Dividends payable	1,271		1,042
Other liabilities	5,065		4,189
Total liabilities	318,043		336,095
Shareholders’ equity	2,041,373		2,258,942
Total liabilities and shareholders’ equity	$	2,359,416	$	2,595,037

Schedule of Condensed Income Statement

Statements of Income and Comprehensive Income (Loss)

	Years Ended December 31,
(Dollars in thousands)	2022		2021		2020
Income
Interest income	$	37	$	34	$	27
Noninterest income	13		215		0
Net gain (loss) on equity securities	(156)		448		272
Dividends from subsidiaries	171,900		202,000		81,725
Total income	171,794		202,697		82,024
Expenses
Interest expense	16,624		15,900		14,172
Salaries and employee benefits	13,547		9,784		8,004
Professional services	256		2,343		1,160
Other	5,581		5,186		5,163
Total expenses	36,008		33,213		28,499
Income before income taxes and equity in undistributed net earnings of subsidiaries	135,786		169,484		53,525
Income tax expense (benefit)	(8,523)		(7,787)		(6,145)
Equity in undistributed earnings (loss) of subsidiaries	73,303		27,889		96,140
Net income	$	217,612	$	205,160	$	155,810
Comprehensive income (loss)	$	(140,618)	$	156,063	$	191,151

Schedule of Condensed Cash Flow Statement

Statements of Cash Flows

	Years Ended December 31,
(Dollars in thousands)	2022		2021		2020
Operating activities
Net income	$	217,612	$	205,160	$	155,810
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed (earnings) loss of subsidiaries	(73,303)		(27,889)		(96,140)
Depreciation and amortization	860		859		712
Stock-based compensation expense	13,379		9,635		7,678
Unrealized (gain) loss on equity securities	156		(448)		(272)
Deferred income taxes	(475)		(224)		(158)
(Decrease) increase in dividends payable	229		368		(175)
(Decrease) increase in other liabilities	634		(751)		(22)
Decrease (increase) in other assets	(8,748)		(8,096)		8,907
Net cash provided by (used in) operating activities	150,344		178,614		76,340
Investing activities
Capital contributions to subsidiaries	0		(113,152)		0
Other	1,011		0		0
Net cash (used in) provided by investing activities	1,011		(113,152)		0
Financing activities
(Decrease) increase in short-term borrowings	(20,000)		20,000		0
Proceeds from long-term borrowings	0		(10,592)		150,000
Cash dividends paid on common stock	(86,606)		(87,316)		(89,691)
Purchases of common stock	0		(108,077)		(16,686)
Proceeds from exercise of stock options, net of shares purchased	177		64		72
Other	(3,659)		(2,697)		(3,002)
Net cash provided by (used in) financing activities	(110,088)		(188,618)		40,693
Net increase (decrease) in cash	41,267		(123,156)		117,033
Cash at beginning of year	49,746		172,902		55,869
Cash at end of year	$	91,013	$	49,746	$	172,902