EX-99.1

EXHIBIT 99.1

FOR IMMEDIATE RELEASE


Media Contact:		Cheryl Lipp
		(513) 979-5797
		cheryl.lipp@bankatfirst.com

Analyst Contact:		J. Franklin Hall
		(513) 979-5770
		frank.hall@bankatfirst.com

First Financial Bancorp Reports Second Quarter 2007 Financial Results

	•		Second quarter 2007 net earnings of $0.21 per diluted share versus $0.11 in second quarter 2006

	•		Continued improvement in earning asset mix with stable net interest margin

	•		Year-over-year second quarter period-end growth in commercial, commercial real estate, and construction loans of $207.3 million or 15.4 percent, excluding the effects of the branch and loan sales

	•		Credit quality remains relatively stable

HAMILTON, Ohio – July 25, 2007 – First Financial Bancorp (Nasdaq: FFBC) president and chief executive officer, Claude E. Davis, today announced second quarter 2007 earnings of $8,172,000 or 21 cents in diluted earnings per share, compared to $4,358,000 or 11 cents in diluted earnings per share for the second quarter 2006 and $8,435,000 or 22 cents in diluted earnings per share last quarter. First Financial also announced year-to-date earnings of $16,607,000 or 43 cents in diluted earnings per share, compared to $8,325,000 or 21 cents in diluted earnings per share for the same period in 2006.

Return on average assets for the second quarter 2007 was 1.00 percent compared to 0.51 percent for the same period in 2006 and 1.04 percent last quarter. Year-to-date return on average assets was 1.02 percent for 2007 compared to 0.48 percent for the same period in 2006. Return on average shareholders’ equity was 11.61 percent for the second quarter 2007 compared to 5.90 percent for the comparable period in 2006 and 11.94 percent last quarter. Year-to-date return on average shareholders’ equity was 11.78 percent for 2007 compared to 5.65 percent for the same period in 2006.

Unless otherwise noted, all amounts discussed in the remainder of the earnings release are pre-tax except income or loss from continuing operations, net income, and per-share data which is presented after-tax.

Summary and Outlook of Key Drivers

Net interest margin decreased to 3.97 percent in the second quarter 2007 from 4.11 percent for the second quarter 2006 and 4.12 percent for the linked-quarter (second quarter 2007 compared to first quarter 2007). Approximately 10 basis points of the first quarter 2007 net interest margin was due to the impact of an accrual of income to convert certain consumer loans from a cycle-date basis of income recognition to a calendar-month basis. The first quarter 2007 adjusted net interest margin, excluding the impact of this accrual, was 4.02 percent. The 2007 margin forecast remains within a range of 3.90 to 4.05 percent.

Noninterest income remained relatively stable on a comparative quarter basis. On a linked-quarter basis, excluding the effects of the first quarter 2007 gain on the sale of residential mortgage servicing rights of $1.1 million, noninterest income was positively impacted by increases in service charges on deposit accounts, trust and wealth management fees, and bankcard income. Management expects the full-year noninterest income annualized growth rate to be between zero and 5.0 percent from the 2006 adjusted, full-year baseline of approximately $59 million.

Noninterest expense was significantly impacted during 2006 by the transition costs associated with First Financial’s execution of its Strategic Plan, resulting in a reduction in noninterest expense of $9.2 million in the second quarter 2007 from the prior year comparable quarter. Year-to-date noninterest expense was $60.7 million in 2007 compared to $77.6 million in 2006, a $16.9 million or 21.8 percent decrease. Management expects that the 2007 efficiency ratio will be between 65 and 67 percent, but remains committed to the long-term goal of 55 to 60 percent. These items will be discussed in more detail in the remainder of the earnings release.

Capital management efforts through share repurchases resulted in 252,000 shares repurchased in the second quarter 2007 at a cost of $3.8 million. On a year-to-date basis, First Financial has repurchased 496,000 shares at a cost of $7.7 million and a weighted average share price of $15.58. First Financial expects to repurchase approximately 1,000,000 shares in 2007.

Credit quality remained relatively stable as net charge-offs for the second quarter were an annualized 23 basis points, and management is projecting a net charge-off level of between 30 and 40 basis points for the full year. Nonperforming assets increased $3.0 million from the first quarter 2007 primarily due to the transfer of four commercial loan relationships to nonaccrual status. First Financial's allowance for loan and lease losses to period-end loans ratio was 1.10 percent, flat compared to the first quarter 2007. Year-to-date 2007 net charge-offs were an annualized 22 basis points of average loans compared to an annualized 40 basis points of average loans for the comparable period in 2006, excluding the second quarter 2006 impact from the transfer of approximately $38 million of loans to loans held for sale.

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Updated 2007 guidance


	2007 Original	2007 Updated
	Guidance	Guidance
Earnings Per Share	$1.00 - $1.10	$0.90 - $0.95
Net Interest Margin	3.90% - 4.05%	No change
Noninterest Income Annualized Growth	7% - 13%	0% - 5%
Noninterest Expense	$118 - $122 million	No Change
Net Charge-offs to Average Loans	30 - 40 bp	No Change
Effective Tax Rate	33.0%	No Change
Return on Equity	13% - 15%	12% - 13%
Efficiency	62% - 65%	65% - 67%

(The preceding overview of First Financial Bancorp’s earnings is supplemented with the following detail:)

Current Period Operating Results

NET INTEREST INCOME

Second Quarter 2007 vs. Second Quarter 2006

Net interest income for the second quarter 2007 was $29.6 million compared to $31.9 million in the second quarter 2006, a decrease of $2.3 million or 7.3 percent. This decrease is primarily due to a 4.1 percent net decline in the level of earning assets, resulting primarily from the third quarter 2006 sale of ten branches and their approximate $101 million of loans and $109 million of deposits.

Second Quarter 2007 vs. First Quarter 2007

Net interest income on a linked-quarter basis decreased from $30.4 million in the first quarter 2007 to $29.6 million in the second quarter 2007, an $802,000 or 2.6 percent decrease. Excluding the effect of the first quarter 2007 interest accrual noted earlier, linked-quarter net interest income remained flat primarily due to consistent earning asset levels and stability in the net interest margin.

Year-to-Date 2007 vs. Year-to-Date 2006

Year-to-date net interest income was $60.0 million in 2007 compared to $64.1 million in 2006, a $4.1 million or 6.5 percent decrease. This decrease is primarily due to a 5.9 percent net decline in the level of earning assets,

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resulting primarily from the balance sheet restructure completed in the first quarter 2006, the third quarter 2006 sale of ten branches and their associated loans and deposits, and continued effects of increased rates on deposits.

NET INTEREST MARGIN

Second Quarter 2007 vs. Second Quarter 2006

Second quarter 2007 net interest margin of 3.97 percent decreased 14 basis points from 4.11 percent for the second quarter 2006, reflecting the planned reduction in earning assets and an increase in deposit costs. On a tax equivalent basis, the second quarter 2007 net interest margin of 4.05 percent decreased 15 basis points from 4.20 percent for the second quarter 2006.

Second Quarter 2007 vs. First Quarter 2007

Linked-quarter net interest margin decreased 5 basis points from an adjusted 4.02 percent to 3.97 percent. The net interest margin remains relatively stable as the earning asset mix continues to shift from lower yielding indirect installment and conforming mortgage loans to higher yielding commercial and commercial real estate loans. These benefits were more than offset by the planned reduction in earning assets and a continued increase in deposit costs. On a tax-equivalent basis, the second quarter 2007 net interest margin was 4.05 percent as compared to an adjusted 4.10 percent for the first quarter 2007.

Year-to-Date 2007 vs. Year-to-Date 2006

Year-to-date net interest margin was 4.05 percent in 2007, 4.00 percent when adjusted for the year-to-date impact of the interest accrual noted earlier, compared to 4.07 percent in 2006, reflecting the planned reduction in earning assets and an increase in deposit costs. On a tax-equivalent year-to-date basis, net interest margin was an adjusted 4.08 percent in 2007 as compared to 4.16 percent in 2006.

For further details on the quarter-over-quarter and year-to-date changes in the net interest margin, please see the attached Net Interest Margin Rate / Volume Analysis.

BALANCE SHEET TRENDS

Loans

First Financial has continued to expand its commercial lending sales force and market presence over the past year, which is reflected in the planned loan mix shift to higher yielding commercial loans. Period-end commercial,

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commercial real estate, and construction loans, excluding the effects of the branch and loan sales, increased from $1.34 billion in the second quarter 2006 to $1.55 billion in the second quarter 2007, an increase of approximately $207.3 million or 15.4 percent, as summarized below:


								Annualized			% Change
								% Change			Comparable-
Period-end balances:	6/30/07		3/31/07		6/30/06			Linked-Qtr.			Qtr.
Commercial	$	747,292	$	709,341	$	646,662			21.4	%		15.6	%
Real estate — commercial		676,679		647,126		640,869			18.3	%		5.6	%
Real estate — construction		125,732		107,867		95,603			66.2	%		31.5	%
Branch loan sale impact		—		—		(37,437	)		—			—
Strategic loan sale impact		—		—		(3,277	)		—			—

Total	$	1,549,703	$	1,464,334	$	1,342,420			23.3	%		15.4	%

During late 2005 and early 2006, management made the decisions to exit indirect installment lending, to no longer hold its retail mortgage loan originations on the balance sheet, and to utilize the sale of loans to strategically manage the company’s asset mix, risk profile, and credit quality. Management estimates this has resulted in the cumulative reduction in loan balances as follows:


Indirect installment loan runoff	$	176,725
Retail mortgage loan runoff		133,631
Strategic loan sales		260,423

Total	$	570,779

Second Quarter 2007 vs. Second Quarter 2006

Average total loans for the second quarter 2007 decreased $83.8 million or 3.2 percent from the comparable period a year ago. Period-end commercial, commercial real estate, and construction loans, excluding the effects of the branch and loan sales, increased approximately $207.3 million or 15.4 percent from the second quarter 2006.

Second Quarter 2007 vs. First Quarter 2007

Average total loans for the second quarter 2007 increased $47.0 million or 7.6 percent on an annualized basis from the first quarter 2007, and average commercial, commercial real estate, and construction loans increased $86.9 million or 24.4 percent on an annualized basis from the first quarter 2007. Period-end commercial, commercial real estate, and construction loans increased approximately $85.4 million or 23.3 percent on an annualized basis from the first quarter 2007.

Year-to-Date 2007 vs. Year-to-Date 2006

Year-to-date 2007 average total loans decreased $98.5 million or 7.6 percent on an annualized basis from the comparable period in 2006; however, average commercial, commercial real estate, and construction loans increased $131.7 million or 19.7 percent on an annualized basis from the comparable period in 2006.

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Investments

Securities available-for-sale were $313.6 million at June 30, 2007, compared to $326.6 million at June 30, 2006 and $325.8 million at March 31, 2007. The combined investment portfolio was 10.8 percent and 10.7 percent of total assets at June 30, 2007, and 2006, respectively, and 11.0 percent of total assets at March 31, 2007.

Deposits

In total, average deposit balances have remained relatively stable over the past year, excluding the branch and related deposit sale. Consumer preference for higher-yielding money market accounts rather than more traditional transaction accounts, and the aggressiveness in market pricing for both transaction and certificate of deposit accounts, has made deposit growth difficult and has resulted in significant shifts in deposit mix. First Financial continues to expand its product offerings, primarily in the interest-bearing checking and savings account categories, to address competitive pressures and consumer demand.

Second Quarter 2007 vs. Second Quarter 2006

Average deposits for the second quarter 2007 decreased $92.2 million or 3.2 percent from the comparable period a year ago. The decrease was primarily a result of the previously mentioned sale of branches in the third quarter 2006 which included $108.6 million of actual deposit balances.

Second Quarter 2007 vs. First Quarter 2007

Average deposits for the second quarter 2007 remained relatively flat compared to the first quarter 2007. Average interest-bearing deposits decreased $3.0 million or 50 basis points, and average noninterest-bearing deposits increased $3.5 million or 3.5 percent, both on an annualized basis from the first quarter 2007.

Year-to-Date 2007 vs. Year-to-Date 2006

Year-to-date 2007 average total deposits decreased $93.5 million or 6.4 percent on an annualized basis from the comparable period in 2006. The decrease was primarily a result of the previously mentioned sale of branches in the third quarter 2006.

NONINTEREST INCOME

Second Quarter 2007 vs. Second Quarter 2006

Second quarter 2007 noninterest income was $14.1 million, an increase of $303,000 or 2.2 percent from the second quarter 2006. This increase was primarily due to higher trust and wealth management fees and bankcard income offset by lower service charge income on deposit accounts primarily as a result of the third quarter 2006 branch sales.

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Second Quarter 2007 vs. First Quarter 2007

On a linked-quarter basis, total noninterest income decreased $612,000 or 4.2 percent. Excluding the first quarter 2007 gain on the sale of residential mortgage servicing rights, total noninterest income increased 3.3 percent in the second quarter 2007. The second quarter 2007 included increases in service charge income on deposit accounts, trust and wealth management fees, and bankcard income totaling $1.1 million or 10.9 percent, which were more than offset by the $1.1 million first quarter 2007 gain on the sale of residential mortgage servicing rights and higher earnings from bank-owned life insurance.

Year-to-Date 2007 vs. Year-to-Date 2006

Year-to-date noninterest income was $28.9 million in 2007 compared to $26.8 million in 2006, a $2.1 million or 7.7 percent increase. This increase is primarily due to the gain on the sale of residential mortgage servicing rights in the first quarter 2007 and related lower amortization expense, the first quarter 2006 loss on sale of investment securities, higher trust and wealth management fees, bankcard income, and earnings from bank-owned life insurance. These increases were offset by lower service charge income on deposit accounts primarily as a result of the third quarter 2006 branch sales.

NONINTEREST EXPENSE

Second Quarter 2007 vs. Second Quarter 2006

Total noninterest expense decreased $9.2 million or 23.9 percent during the second quarter 2007 as compared to the second quarter 2006 primarily due to the following:

	•		decreases in salaries and benefits of $6.0 million primarily due to the $2.5 million reduction in severance costs, $1.5 million reduction in salaries and other performance and incentive-based compensation, $831,000 reduction in pension and other retirement-related expenses, and $782,000 reduction in health care costs as a result of lower staffing levels

	•		decreases in data processing of $2.6 million primarily due to the $1.1 million in early termination fees on technology contracts incurred in the second quarter 2006 and the impact of First Financial’s 2006 technology upgrade in which the company moved from an out-sourced to an in-house data processing environment

	•		decreases in professional services of $766,000 primarily due to 2006 costs associated with our branding initiative, branch staffing, and recruiting fees, combined with an overall reduction in outside consulting usage

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Second Quarter 2007 vs. First Quarter 2007

On a linked-quarter basis, noninterest expense was $1.8 million or 5.7 percent less than the first quarter 2007. The decrease in noninterest expense was primarily due to decreased salaries and other performance and incentive-based compensation of $1.0 million and decreased severance costs of $805,000.

Year-to-Date 2007 vs. Year-to-Date 2006

Year-to-date noninterest expense was $60.7 million in 2007 compared to $77.6 million in 2006, a $16.9 million or 21.8 percent decrease. When the first six months of 2007 and 2006 are adjusted for the items shown below, noninterest expense decreased $9.4 million or 13.7 percent.


	YTD 2Q07			YTD 2Q06			$ Change			% Change
Total noninterest expense	$	60,650		$	77,561		$	(16,911	)		(21.8	)%
Q1 items:
Debt extinguishment prepayment penalty		—			(4,295	)		4,295			—
Losses on properties		—			(354	)		354			—
Severance		(933	)		(155	)		(778	)		—

Q1 items subtotal		(933	)		(4,804	)		3,871			—

Q2 items:
Technology contract early termination costs		—			(1,073	)		1,073			—
Losses on properties		(58	)		(137	)		79			—
Severance		(128	)		(2,601	)		2,473			—

Q2 items subtotal		(186	)		(3,811	)		3,625			—

Adjusted total noninterest expense	$	59,531		$	68,946		$	(9,415	)		(13.7	)%

The following items contributed to the adjusted $9.4 million decrease in noninterest expense from the first six months of 2006:

	•		decreases in salaries and benefits of $5.5 million, excluding the year-to-date $1.7 million reduction in severance costs, primarily due to the $2.2 million reduction in salaries and other performance and incentive-based compensation, $1.8 million reduction in pension and other retirement-related expenses, and $828,000 reduction in health care costs

	•		decreases in data processing of $2.6 million, excluding the $1.1 million reduction in technology early termination fees, primarily due to the impact of First Financial’s 2006 technology upgrade in which the company moved from an out-sourced to an in-house data processing environment

	•		decreases in professional services of $1.4 million primarily due to 2006 costs associated with our corporate reorganization, branding initiative, branch staffing, and recruiting fees, combined with an overall reduction in outside consulting usage

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INCOME TAXES

Income tax expense was $4.0 million and $2.4 million for the three months ended June 30, 2007, and 2006, respectively. The effective tax rate for the second quarter 2007, and 2006, was 33.0 percent and 35.3 percent, respectively. Income tax expense was $8.2 million and $3.9 million for the six months ended June 30, 2007, and 2006, respectively. The effective tax rate for the six months ended June 30, 2007, and 2006, was 33.0 percent and 32.2 percent, respectively.

CREDIT QUALITY

Second Quarter 2007 vs. Second Quarter 2006

Second quarter 2007 net charge-offs were $1.4 million, an annualized 23 basis points of average loans, compared to second quarter 2006 net charge-offs of $2.6 million, an annualized 40 basis points of average loans, excluding the second quarter 2006 $8.3 million impact from the transfer of approximately $38 million of loans to loans held for sale. This lower level of net charge-offs in the second quarter 2007 is primarily due to lower commercial and commercial real estate loan charge-offs.

Total underperforming assets at the end of the second quarter 2007 of $17.2 million increased $1.4 million from $15.8 million at the end of the second quarter 2006 primarily due to higher commercial and commercial real estate nonaccrual loans. The ratio of nonperforming assets to ending loans increased from 58 basis points at the end of the second quarter 2006 to 67 basis points at the end of the second quarter 2007, partially driven by a reduction in total loans.

First Financial’s allowance for loan and lease losses to period-end loans ratio was 1.10 percent, flat compared to the first quarter 2007. A large percentage of underperforming assets are secured by real estate and this collateral has been appropriately considered in establishing the allowance for loan and lease losses at June 30, 2007. It is management’s belief that the second quarter 2007 allowance for loan and lease losses of $28.1 million is adequate to absorb probable credit losses inherent in the portfolio.

Second Quarter 2007 vs. First Quarter 2007

Second quarter 2007 net charge-offs were $1.4 million, an annualized 23 basis points of average loans, compared to first quarter 2007 net charge-offs of $1.3 million, an annualized 22 basis points of average loans.

Total underperforming assets increased $3.1 million from $14.1 million at the end of the first quarter 2007 to $17.2 million at the end of the second quarter 2007 primarily due to the transfer of four commercial loan relationships to nonaccrual status. The ratio of nonperforming assets to ending loans increased from 56 basis points at the end of the first quarter 2007 to 67 basis points at the end of the second quarter 2007.

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For further details on the quarter-over-quarter changes in credit quality, please see the attached Credit Quality schedule.

Earnings Conference Call and Webcast

On July 25, 2007, First Financial will host an earnings conference call that will be webcast live at 1:00 p.m. EDT. The presenters will be Claude E. Davis, president and chief executive officer, and J. Franklin Hall, senior vice president and chief financial officer. Anyone may participate in the conference call by calling 1-877-407-8031 (no passcode needed) or by logging on to the company’s website (www.bankatfirst.com) for a live audio webcast of the call. Click on the Investor Relations link and then on Webcast. Listeners should allow an extra five minutes to be connected to the call or webcast. The event will be archived on the company’s website for one year. Questions regarding this information should be directed to the Media Contact, Cheryl Lipp, or the Analyst Contact, J. Franklin Hall.

This release should be read in conjunction with the consolidated financial statements, notes, and tables attached and in the First Financial Bancorp Annual Report on Form 10-K for the year ended December 31, 2006. Management’s analysis contains forward-looking statements that are provided to assist in the understanding of anticipated future financial performance. However, such performance involves risk and uncertainties that may cause actual results to differ materially. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to, the ability of the company to implement its Strategic Plan, the strength of the local economies in which operations are conducted, the effects of and changes in policies and laws of regulatory agencies, inflation, and interest rates. For further discussion of certain factors that may cause such forward-looking statements to differ materially from actual results, refer to the 2006 Form 10-K and other public documents filed with the SEC. These documents are available on our investor relations website at www.bankatfirst.com and on the SEC’s website at www.sec.gov.

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FIRST FINANCIAL BANCORP.
CONSOLIDATED FINANCIAL HIGHLIGHTS

(Dollars in thousand, except per share)
(Unaudited)


	Three months ended,															Six months ended
	Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Jun. 30,
	2007			2007			2006			2006			2006			2007			2006
RESULTS OF OPERATIONS
Net interest income	$	29,601		$	30,403		$	30,104		$	30,823		$	31,947		$	60,004		$	64,146
Net income	$	8,172		$	8,435		$	827		$	12,119		$	4,358		$	16,607		$	8,325
Net earnings per common share — basic	$	0.21		$	0.22		$	0.02		$	0.31		$	0.11		$	0.43		$	0.21
Net earnings per common share — diluted	$	0.21		$	0.22		$	0.02		$	0.31		$	0.11		$	0.43		$	0.21
Dividends declared per common share	$	0.16		$	0.16		$	0.16		$	0.16		$	0.16		$	0.32		$	0.32

KEY FINANCIAL RATIOS
Return on average assets		1.00	%		1.04	%		0.10	%		1.40	%		0.51	%		1.02	%		0.48	%
Return on average shareholders’ equity		11.61	%		11.94	%		1.10	%		16.09	%		5.90	%		11.78	%		5.65	%
Return on average tangible shareholders’ equity		12.95	%		13.31	%		1.24	%		18.20	%		6.70	%		13.13	%		6.40	%

Net interest margin		3.97	%		4.12	%		3.95	%		3.93	%		4.11	%		4.05	%		4.07	%
Net interest margin (fully tax equivalent) ⁽¹⁾		4.05	%		4.20	%		4.05	%		4.01	%		4.20	%		4.12	%		4.16	%

Average shareholders’ equity to average assets		8.58	%		8.68	%		8.98	%		8.72	%		8.64	%		8.63	%		8.53	%
Tier 1 Ratio⁽²⁾		11.13	%		11.57	%		11.73	%		11.89	%		11.37	%		11.13	%		11.37	%
Total Capital Ratio⁽²⁾		12.18	%		12.64	%		12.81	%		13.14	%		12.52	%		12.18	%		12.52	%
Leverage Ratio⁽²⁾		9.04	%		9.08	%		9.02	%		8.85	%		8.72	%		9.04	%		8.72	%

AVERAGE BALANCE SHEET ITEMS
Loans less unearned income ⁽³⁾	$	2,530,638		$	2,490,252		$	2,497,389		$	2,580,005		$	2,614,598		$	2,510,557		$	2,605,725
Investment securities		364,050			367,407			381,985			370,095			380,532			365,719			438,707
Other earning assets		93,986			134,635			142,320			158,940			122,413			114,198			131,910

Total earning assets	$	2,988,674		$	2,992,294		$	3,021,694		$	3,109,040		$	3,117,543		$	2,990,474		$	3,176,342
Total assets	$	3,291,756		$	3,299,346		$	3,332,388		$	3,426,417		$	3,428,839		$	3,295,530		$	3,486,803
Noninterest-bearing deposits	$	405,179		$	401,698		$	418,009		$	401,685		$	424,227		$	403,448		$	420,664
Interest-bearing deposits		2,403,919			2,406,913			2,392,092			2,492,898			2,477,026			2,405,408			2,481,655

Total deposits	$	2,809,098		$	2,808,611		$	2,810,101		$	2,894,583		$	2,901,253		$	2,808,856		$	2,902,319
Borrowings	$	177,472		$	181,613		$	192,811		$	200,856		$	202,792		$	179,531		$	257,961
Shareholders’ equity	$	282,354		$	286,453		$	299,320		$	298,909		$	296,087		$	284,391		$	297,325

CREDIT QUALITY RATIOS
Allowance to ending loans		1.10	%		1.10	%		1.10	%		1.27	%		1.15	%		1.10	%		1.15	%
Allowance to nonperforming assets		165.06	%		195.42	%		208.01	%		143.94	%		199.38	%		165.06	%		199.38	%
Nonperforming assets to ending loans, plus OREO		0.67	%		0.56	%		0.53	%		0.88	%		0.58	%		0.67	%		0.58	%
Nonperforming assets to total assets		0.52	%		0.42	%		0.40	%		0.67	%		0.44	%		0.52	%		0.44	%
Net charge-offs to average loans (annualized)⁽⁴⁾		0.23	%		0.22	%		1.64	%		0.17	%		1.68	%		0.22	%		1.05	%


⁽¹⁾		The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% 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.

⁽²⁾		June 30, 2007 regulatory capital ratios are preliminary.

⁽³⁾		Includes loans held for sale.

⁽⁴⁾		December 31, 2006 and June 30, 2006 charge-offs include $4,375 and $8,356, respectively, in loans held for sale write-downs to the lower of cost or estimated fair value.

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands)
(Unaudited)


	Three months ended,									Six months ended,
	Jun. 30,									Jun. 30,
	2007			2006			% Change			2007			2006			% Change
Interest income
Loans, including fees	$	45,291		$	44,386			2.0	%	$	90,355		$	87,243			3.6	%
Investment securities
Taxable		3,762			3,798			(0.9	%)		7,653			8,939			(14.4	%)
Tax-exempt		911			1,057			(13.8	%)		1,820			2,161			(15.8	%)

Total investment securities interest		4,673			4,855			(3.7	%)		9,473			11,100			(14.7	%)
Federal funds sold		1,241			1,500			(17.3	%)		2,997			3,082			(2.8	%)

Total interest income		51,205			50,741			0.9	%		102,825			101,425			1.4	%

Interest expense
Deposits		19,409			16,554			17.2	%		38,418			31,487			22.0	%
Short-term borrowings		984			892			10.3	%		1,980			1,788			10.7	%
Long-term borrowings		542			709			(23.6	%)		1,101			2,767			(60.2	%)
Subordinated debentures and capital securities		669			639			4.7	%		1,322			1,237			6.9	%

Total interest expense		21,604			18,794			15.0	%		42,821			37,279			14.9	%

Net interest income		29,601			31,947			(7.3	%)		60,004			64,146			(6.5	%)
Provision for loan and lease losses		2,098			360			482.8	%		3,454			1,112			210.6	%

Net interest income after provision for loan and lease losses		27,503			31,587			(12.9	%)		56,550			63,034			(10.3	%)

Noninterest income
Service charges on deposit accounts		5,296			5,431			(2.5	%)		10,040			10,520			(4.6	%)
Trust and wealth management fees		4,526			4,139			9.4	%		8,686			8,328			4.3	%
Bankcard income		1,424			1,165			22.2	%		2,664			2,288			16.4	%
Net gains from sales of loans		184			259			(29.0	%)		346			504			(31.3	%)
Gain on sale of mortgage servicing rights		0			0			N/M			1,061			0			N/M
Losses on sales of investment securities		0			0			N/M			0			(476	)		N/M
Other		2,702			2,835			(4.7	%)		6,079			5,636			7.9	%

Total noninterest income		14,132			13,829			2.2	%		28,876			26,800			7.7	%

Noninterest expenses
Salaries and employee benefits		17,134			23,110			(25.9	%)		36,095			43,327			(16.7	%)
Net occupancy		2,484			2,698			(7.9	%)		5,291			5,537			(4.4	%)
Furniture and equipment		1,708			1,334			28.0	%		3,335			2,814			18.5	%
Data processing		818			3,393			(75.9	%)		1,663			5,337			(68.8	%)
Marketing		642			647			(0.8	%)		1,511			1,330			13.6	%
Communication		798			642			24.3	%		1,663			1,309			27.0	%
Professional services		1,063			1,829			(41.9	%)		2,069			3,419			(39.5	%)
Debt extinguishment		0			0			N/M			0			4,295			N/M
Other		4,793			5,031			(4.7	%)		9,023			10,193			(11.5	%)

Total noninterest expenses		29,440			38,684			(23.9	%)		60,650			77,561			(21.8	%)

Income before income taxes		12,195			6,732			81.1	%		24,776			12,273			101.9	%
Income tax expense (benefit)		4,023			2,374			69.5	%		8,169			3,948			106.9	%

Net income	$	8,172		$	4,358			87.5	%	$	16,607		$	8,325			99.5	%


ADDITIONAL DATA
Net earnings per common share — basic	$	0.21		$	0.11					$	0.43		$	0.21
Net earnings per common share — diluted	$	0.21		$	0.11					$	0.43		$	0.21
Dividends declared per common share	$	0.16		$	0.16					$	0.32		$	0.32
Book value per common share	$	7.18		$	7.37					$	7.18		$	7.37

Return on average assets		1.00	%		0.51	%					1.02	%		0.48	%
Return on average shareholders’ equity		11.61	%		5.90	%					11.78	%		5.65	%

Interest income	$	51,205		$	50,741			0.9	%	$	102,825		$	101,425			1.4	%
Tax equivalent adjustment		580			696			(16.7	%)		1,156			1,357			(14.8	%)

Interest income — tax equivalent		51,785			51,437			0.7	%		103,981			102,782			1.2	%
Interest expense		21,604			18,794			15.0	%		42,821			37,279			14.9	%

Net interest income — tax equivalent	$	30,181		$	32,643			(7.5	%)	$	61,160		$	65,503			(6.6	%)


Net interest margin		3.97	%		4.12	%					4.05	%		4.07	%
Net interest margin (fully tax equivalent) ⁽¹⁾		4.05	%		4.20	%					4.12	%		4.16	%

Full-time equivalent employees		1,158			1,365						1,158			1,365


⁽¹⁾		The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% 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 provided useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons.

N/M = Not meaningful.

FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME

(Dollars in thousands)
(Unaudited)


	2007
	Second			First						% Change
	Quarter			Quarter			Year-to-Date			Linked Qtr.
Interest income
Loans, including fees	$	45,291		$	45,064		$	90,355			0.5	%
Investment securities
Taxable		3,762			3,891			7,653			(3.3	%)
Tax-exempt		911			909			1,820			0.2	%

Total investment securities interest		4,673			4,800			9,473			(2.6	%)
Federal funds sold		1,241			1,756			2,997			(29.3	%)

Total interest income		51,205			51,620			102,825			(0.8	%)

Interest expense
Deposits		19,409			19,009			38,418			2.1	%
Short-term borrowings		984			996			1,980			(1.2	%)
Long-term borrowings		542			559			1,101			(3.0	%)
Subordinated debentures and capital securities		669			653			1,322			2.5	%

Total interest expense		21,604			21,217			42,821			1.8	%

Net interest income		29,601			30,403			60,004			(2.6	%)
Provision for loan and lease losses		2,098			1,356			3,454			54.7	%

Net interest income after provision for loan and lease losses		27,503			29,047			56,550			(5.3	%)

Noninterest income
Service charges on deposit accounts		5,296			4,744			10,040			11.6	%
Trust and wealth management fees		4,526			4,160			8,686			8.8	%
Bankcard income		1,424			1,240			2,664			14.8	%
Net gains from sales of loans		184			162			346			13.6	%
Gain on sale of mortgage servicing rights		0			1,061			1,061			(100.0	%)
Other		2,702			3,377			6,079			(20.0	%)

Total noninterest income		14,132			14,744			28,876			(4.2	%)

Noninterest expenses
Salaries and employee benefits		17,134			18,961			36,095			(9.6	%)
Net occupancy		2,484			2,807			5,291			(11.5	%)
Furniture and equipment		1,708			1,627			3,335			5.0	%
Data processing		818			845			1,663			(3.2	%)
Marketing		642			869			1,511			(26.1	%)
Communication		798			865			1,663			(7.7	%)
Professional services		1,063			1,006			2,069			5.7	%
Other		4,793			4,230			9,023			13.3	%

Total noninterest expenses		29,440			31,210			60,650			(5.7	%)

Income before income taxes		12,195			12,581			24,776			(3.1	%)
Income tax expense (benefit)		4,023			4,146			8,169			(3.0	%)

Net income	$	8,172		$	8,435		$	16,607			(3.1	%)


ADDITIONAL DATA
Net earnings per common share — basic	$	0.21		$	0.22		$	0.43
Net earnings per common share — diluted	$	0.21		$	0.22		$	0.43
Dividends declared per common share	$	0.16		$	0.16		$	0.32
Book value per common share	$	7.18		$	7.29		$	7.18

Return on average assets		1.00	%		1.04	%		1.02	%
Return on average shareholders’ equity		11.61	%		11.94	%		11.78	%

Interest income	$	51,205		$	51,620		$	102,825			(0.8	%)
Tax equivalent adjustment		580			576			1,156			0.7	%

Interest income — tax equivalent		51,785			52,196			103,981			(0.8	%)
Interest expense		21,604			21,217			42,821			1.8	%

Net interest income — tax equivalent	$	30,181		$	30,979		$	61,160			(2.6	%)


Net interest margin		3.97	%		4.12	%		4.05	%
Net interest margin (fully tax equivalent) ⁽¹⁾		4.05	%		4.20	%		4.12	%

Full-time equivalent employees		1,158			1,166			1,158


⁽¹⁾		The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% 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 provided useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons.

N/M = Not meaningful.

FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME

(Dollars in thousands)
(Unaudited)


	2006
	Fourth			Third			Second			First			Full
	Quarter			Quarter			Quarter			Quarter			Year
Interest income
Loans, including fees	$	44,972		$	45,484		$	44,386		$	42,857		$	177,699
Investment securities
Taxable		3,925			3,728			3,798			5,141			16,592
Tax-exempt		985			996			1,057			1,104			4,142

Total investment securities interest		4,910			4,724			4,855			6,245			20,734
Federal funds sold		1,894			2,116			1,500			1,582			7,092

Total interest income		51,776			52,324			50,741			50,684			205,525

Interest expense
Deposits		19,349			19,176			16,554			14,933			70,012
Short-term borrowings		1,027			953			892			896			3,768
Long-term borrowings		609			686			709			2,058			4,062
Subordinated debentures and capital securities		687			686			639			598			2,610

Total interest expense		21,672			21,501			18,794			18,485			80,452

Net interest income		30,104			30,823			31,947			32,199			125,073
Provision for loan and lease losses		5,822			2,888			360			752			9,822

Net interest income after provision for loan and lease losses		24,282			27,935			31,587			31,447			115,251

Noninterest income
Service charges on deposit accounts		5,766			5,672			5,431			5,089			21,958
Trust and wealth management fees		3,987			3,949			4,139			4,189			16,264
Bankcard income		1,126			1,023			1,165			1,123			4,437
Net gains from sales of loans		234			2,468			259			245			3,206
Gains on sales of branches		0			12,545			0			0			12,545
Losses on sales of investment securities		0			0			0			(476	)		(476	)
Other		1,791			2,623			2,835			2,801			10,050

Total noninterest income		12,904			28,280			13,829			12,971			67,984

Noninterest expenses
Salaries and employee benefits		21,234			19,968			23,110			20,217			84,529
Net occupancy		2,699			2,802			2,698			2,839			11,038
Furniture and equipment		1,496			1,297			1,334			1,480			5,607
Data processing		1,574			3,058			3,393			1,944			9,969
Marketing		1,022			1,138			647			683			3,490
Communication		1,204			821			642			667			3,334
Professional services		2,074			2,342			1,829			1,590			7,835
Debt extinguishment		0			0			0			4,295			4,295
Other		6,466			5,759			5,031			5,162			22,418

Total noninterest expenses		37,769			37,185			38,684			38,877			152,515

Earnings before income taxes		(583	)		19,030			6,732			5,541			30,720
Income tax expense (benefit)		(1,410	)		6,911			2,374			1,574			9,449

Net earnings	$	827		$	12,119		$	4,358		$	3,967		$	21,271


ADDITIONAL DATA
Net earnings per common share — basic	$	0.02		$	0.31		$	0.11		$	0.10		$	0.54
Net earnings per common share — diluted	$	0.02		$	0.31		$	0.11		$	0.10		$	0.54
Dividends declared per common share	$	0.16		$	0.16		$	0.16		$	0.16		$	0.64
Book value per common share	$	7.27		$	7.58		$	7.37		$	7.50		$	7.27

Return on average assets		0.10	%		1.40	%		0.51	%		0.45	%		0.62	%
Return on average shareholders’ equity		1.10	%		16.09	%		5.90	%		5.39	%		7.13	%

Interest income	$	51,776		$	52,324		$	50,741		$	50,684		$	205,525
Tax equivalent adjustment		712			586			696			661			2,655

Interest income — tax equivalent		52,488			52,910			51,437			51,345			208,180
Interest expense		21,672			21,501			18,794			18,485			80,452

Net interest income — tax equivalent	$	30,816		$	31,409		$	32,643		$	32,860		$	127,728


Net interest margin		3.95	%		3.93	%		4.11	%		4.04	%		4.01	%
Net interest margin (fully tax equivalent) ⁽¹⁾		4.05	%		4.01	%		4.20	%		4.12	%		4.09	%

Full-time equivalent employees		1,214			1,226			1,365			1,467			1,214


⁽¹⁾		The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% 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 provided useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons.

N/M = Not meaningful.

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)
(Unaudited)


	Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			% Change			% Change
	2007			2007			2006			2006			2006			Linked Qtr.			Comparable Qtr.
ASSETS
Cash and due from banks	$	87,808		$	87,969		$	119,407		$	117,067		$	152,581			(0.2	%)		(42.5	%)
Federal funds sold		55,000			159,200			102,000			101,000			79,000			(65.5	%)		(30.4	%)
Investment securities held-to-maturity		5,711			7,769			7,995			8,059			8,571			(26.5	%)		(33.4	%)
Investment securities available-for-sale		313,575			325,755			324,259			329,225			326,633			(3.7	%)		(4.0	%)
Other investments		33,969			33,969			33,969			34,137			34,827			0.0	%		(2.5	%)
Loans
Commercial		747,292			709,341			673,445			663,522			646,662			5.4	%		15.6	%
Real estate — construction		125,732			107,867			101,688			92,434			95,603			16.6	%		31.5	%
Real estate — commercial		676,679			647,126			623,603			625,535			640,869			4.6	%		5.6	%
Real estate — retail		580,005			604,213			628,579			653,652			721,383			(4.0	%)		(19.6	%)
Installment		162,506			180,116			198,881			219,677			251,463			(9.8	%)		(35.4	%)
Home equity		235,734			228,660			228,128			231,741			226,974			3.1	%		3.9	%
Credit card		24,488			23,678			24,587			23,083			22,563			3.4	%		8.5	%
Lease financing		608			732			923			1,202			1,396			(16.9	%)		(56.4	%)

Total loans		2,553,044			2,501,733			2,479,834			2,510,846			2,606,913			2.1	%		(2.1	%)
Less
Allowance for loan and lease losses		28,060			27,407			27,386			31,888			30,085			2.4	%		(6.7	%)

Net loans		2,524,984			2,474,326			2,452,448			2,478,958			2,576,828			2.0	%		(2.0	%)
Loans held for sale		0			0			8,824			0			30,747			N/M			N/M
Premises and equipment		79,079			79,553			79,609			78,820			78,707			(0.6	%)		0.5	%
Goodwill		28,261			28,261			28,261			28,261			28,261			0.0	%		0.0	%
Other intangibles		1,003			1,195			5,842			6,471			6,927			(16.1	%)		(85.5	%)
Accrued interest and other assets		143,277			129,991			138,985			125,084			132,303			10.2	%		8.3	%

Total Assets	$	3,272,667		$	3,327,988		$	3,301,599		$	3,307,082		$	3,455,385			(1.7	%)		(5.3	%)


LIABILITIES
Deposits
Interest-bearing	$	594,788		$	627,996		$	667,305		$	672,841		$	701,412			(5.3	%)		(15.2	%)
Savings		588,229			564,340			526,663			523,884			549,732			4.2	%		7.0	%
Time		1,211,182			1,218,823			1,179,852			1,198,059			1,243,896			(0.6	%)		(2.6	%)

Total interest-bearing deposits		2,394,199			2,411,159			2,373,820			2,394,784			2,495,040			(0.7	%)		(4.0	%)
Noninterest-bearing		399,260			420,521			424,138			381,937			433,372			(5.1	%)		(7.9	%)

Total deposits		2,793,459			2,831,680			2,797,958			2,776,721			2,928,412			(1.3	%)		(4.6	%)
Short-term borrowings
Federal funds purchased and securities sold under agreements to repurchase		31,700			39,998			57,201			54,129			48,596			(20.7	%)		(34.8	%)
Other		52,500			52,246			39,500			39,000			36,500			0.5	%		43.8	%

Total short-term borrowings		84,200			92,244			96,701			93,129			85,096			(8.7	%)		(1.1	%)
Federal Home Loan Bank long-term debt		59,021			60,298			63,762			68,197			82,025			(2.1	%)		(28.0	%)
Other long-term debt		30,930			30,930			30,930			30,930			30,930			0.0	%		0.0	%
Accrued interest and other liabilities		25,831			28,481			26,769			38,580			36,688			(9.3	%)		(29.6	%)

Total Liabilities		2,993,441			3,043,633			3,016,120			3,007,557			3,163,151			(1.6	%)		(5.4	%)

SHAREHOLDERS’ EQUITY
Common stock		390,545			393,091			392,736			392,156			391,566			(0.6	%)		(0.3	%)
Retained earnings		75,444			73,505			71,320			76,783			70,997			2.6	%		6.3	%
Accumulated comprehensive income		(16,168	)		(13,121	)		(13,375	)		(8,581	)		(11,875	)		23.2	%		36.2	%
Treasury stock, at cost		(170,595	)		(169,120	)		(165,202	)		(160,833	)		(158,454	)		0.9	%		7.7	%

Total Shareholders’ Equity		279,226			284,355			285,479			299,525			292,234			(1.8	%)		(4.5	%)

Total Liabilities and Shareholders’ Equity	$	3,272,667		$	3,327,988		$	3,301,599		$	3,307,082		$	3,455,385			(1.7	%)		(5.3	%)

N/M = Not meaningful.

FIRST FINANCIAL BANCORP.
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)
(Unaudited)


	Quarterly Averages															Year-to-Date Averages
	Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Jun. 30,
	2007			2007			2006			2006			2006			2007			2006
ASSETS
Cash and due from banks	$	94,541		$	94,384		$	106,010		$	109,896		$	115,406		$	94,463		$	119,246
Federal funds sold		93,986			134,635			142,320			158,940			122,413			114,198			131,910
Investment securities		364,050			367,407			381,985			370,095			380,532			365,719			438,707
Loans
Commercial		733,936			685,585			664,476			642,378			626,912			706,790			603,924
Real estate — construction		118,425			100,192			96,280			94,135			83,719			109,359			84,690
Real estate — commercial		657,959			637,642			623,632			611,602			651,156			650,961			646,795
Real estate — retail		592,811			616,892			649,638			709,539			743,948			604,785			753,100
Installment		170,748			189,397			209,053			235,492			262,019			180,021			274,531
Home equity		231,982			229,112			229,900			229,583			222,878			230,555			218,799
Credit card		23,944			23,809			23,247			22,741			22,017			23,877			21,883
Lease financing		671			830			1,067			1,290			1,599			750			1,827

Total loans		2,530,476			2,483,459			2,497,293			2,546,760			2,614,248			2,507,098			2,605,549
Less
Allowance for loan and lease losses		27,482			27,770			30,894			30,284			40,445			27,625			41,418

Net loans		2,502,994			2,455,689			2,466,399			2,516,476			2,573,803			2,479,473			2,564,131
Loans held for sale		162			6,793			96			33,245			350			3,459			176
Premises and equipment		79,491			79,819			79,123			78,798			76,150			79,654			74,860
Goodwill		28,261			28,261			28,263			28,260			28,261			28,261			28,198
Other intangibles		1,096			5,464			6,261			6,721			7,214			3,268			7,457
Accrued interest and other assets		127,175			126,894			121,931			123,986			124,710			127,035			122,118

Total Assets	$	3,291,756		$	3,299,346		$	3,332,388		$	3,426,417		$	3,428,839		$	3,295,530		$	3,486,803


LIABILITIES
Deposits
Interest-bearing	$	606,320		$	646,548		$	669,076		$	724,253		$	702,138		$	626,323		$	714,351
Savings		578,357			545,101			526,550			536,534			540,242			561,821			528,985
Time		1,219,242			1,215,264			1,196,466			1,232,111			1,234,646			1,217,264			1,238,319

Total interest-bearing deposits		2,403,919			2,406,913			2,392,092			2,492,898			2,477,026			2,405,408			2,481,655
Noninterest-bearing		405,179			401,698			418,009			401,685			424,227			403,448			420,664

Total deposits		2,809,098			2,808,611			2,810,101			2,894,583			2,901,253			2,808,856			2,902,319
Short-term borrowings
Federal funds purchased and securities sold under agreements to repurchase		34,280			46,397			59,196			53,958			49,563			40,305			50,572
Other		52,849			42,136			35,648			37,673			39,819			47,522			42,804

Total short-term borrowings		87,129			88,533			94,844			91,631			89,382			87,827			93,376
Federal Home Loan Bank long-term debt		59,413			62,150			67,037			78,295			82,480			60,774			133,655
Other long-term debt		30,930			30,930			30,930			30,930			30,930			30,930			30,930

Total borrowed funds		177,472			181,613			192,811			200,856			202,792			179,531			257,961
Accrued interest and other liabilities		22,832			22,669			30,156			32,069			28,707			22,752			29,198

Total Liabilities		3,009,402			3,012,893			3,033,068			3,127,508			3,132,752			3,011,139			3,189,478

SHAREHOLDERS’ EQUITY
Common stock		391,536			392,908			392,931			391,325			392,354			392,218			392,509
Retained earnings		74,049			74,497			78,162			77,487			73,237			74,271			73,472
Accumulated comprehensive income		(13,739	)		(13,725	)		(8,768	)		(10,708	)		(9,999	)		(13,732	)		(8,776	)
Treasury stock, at cost		(169,492	)		(167,227	)		(163,005	)		(159,195	)		(159,505	)		(168,366	)		(159,880	)

Total Shareholders’ Equity		282,354			286,453			299,320			298,909			296,087			284,391			297,325

Total Liabilities and Shareholders’ Equity	$	3,291,756		$	3,299,346		$	3,332,388		$	3,426,417		$	3,428,839		$	3,295,530		$	3,486,803

FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE / VOLUME ANALYSYS⁽¹⁾

(Dollars in thousands)
(Unaudited)


	Quarterly Averages																		Year-to-Date Averages
	Jun. 30, 2007						Mar. 31, 2007						Jun. 30, 2006						Jun. 30, 2007						Jun. 30, 2006
	Balance			Yield			Balance			Yield			Balance			Yield			Balance			Yield			Balance			Yield
Earning assets
Investment securities	$	364,050			5.15	%	$	367,407			5.30	%	$	380,532			5.12	%	$	365,719			5.22	%	$	438,707			5.10	%
Federal funds sold		93,986			5.30	%		134,635			5.29	%		122,413			4.91	%		114,198			5.29	%		131,910			4.71	%
Gross loans⁽²⁾		2,530,638			7.18	%		2,490,252			7.34	%		2,614,598			6.81	%		2,510,557			7.26	%		2,605,725			6.75	%

Total earning assets		2,988,674			6.87	%		2,992,294			7.00	%		3,117,543			6.53	%		2,990,474			6.93	%		3,176,342			6.44	%

Nonearning assets
Allowance for loan losses		(27,482	)					(27,770	)					(40,445	)					(27,625	)					(41,418	)
Cash and due from banks		94,541						94,384						115,406						94,463						119,246
Accrued interest and other assets		236,023						240,438						236,335						238,218						232,633

Total assets	$	3,291,756					$	3,299,346					$	3,428,839					$	3,295,530					$	3,486,803


Interest-bearing liabilities
Total interest-bearing deposits	$	2,403,919			3.24	%	$	2,406,913			3.20	%	$	2,477,026			2.68	%	$	2,405,408			3.22	%	$	2,481,655			2.56	%
Borrowed funds
Short-term borrowings		87,129			4.53	%		88,533			4.56	%		89,382			4.00	%		87,827			4.55	%		93,376			3.86	%
Federal Home Loan Bank long-term debt		59,413			3.66	%		62,150			3.65	%		82,480			3.45	%		60,774			3.65	%		133,655			4.17	%
Other long-term debt		30,930			8.68	%		30,930			8.56	%		30,930			8.29	%		30,930			8.62	%		30,930			8.06	%

Total borrowed funds		177,472			4.96	%		181,613			4.93	%		202,792			4.43	%		179,531			4.95	%		257,961			4.53	%

Total interest-bearing liabilities		2,581,391			3.36	%		2,588,526			3.32	%		2,679,818			2.81	%		2,584,939			3.34	%		2,739,616			2.74	%

Noninterest-bearing liabilities
Noninterest bearing demand deposits		405,179						401,698						424,227						403,448						420,664
Other liabilities		22,832						22,669						28,707						22,752						29,198
Shareholders’ equity		282,354						286,453						296,087						284,391						297,325

Total liabilities & shareholders’ equity	$	3,291,756					$	3,299,346					$	3,428,839					$	3,295,530					$	3,486,803


Net interest income⁽¹⁾	$	29,601					$	30,403					$	31,947					$	60,004					$	64,146

Net interest spread⁽¹⁾					3.51	%					3.68	%					3.72	%					3.59	%					3.70	%

Net interest margin⁽¹⁾					3.97	%					4.12	%					4.11	%					4.05	%					4.07	%


⁽¹⁾		Not tax equivalent.

⁽²⁾		Loans held for sale and nonaccrual loans are both included in gross loans.

FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE / VOLUME ANALYSYS⁽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	$	(136	)	$	9		$	(127	)	$	30		$	(212	)	$	(182	)	$	264		$	(1,891	)	$	(1,627	)
Federal funds sold		2			(517	)		(515	)		116			(375	)		(259	)		380			(465	)		(85	)
Gross loans⁽²⁾		(986	)		1,213			227			2,408			(1,503	)		905			6,537			(3,425	)		3,112

Total earning assets		(1,120	)		705			(415	)		2,554			(2,090	)		464			7,181			(5,781	)		1,400

Nonearning assets
Allowance for loan losses
Cash and due from banks
Accrued interest and other assets
Total assets

Interest-bearing liabilities
Total interest-bearing deposits	$	211		$	189		$	400		$	3,445		$	(590	)	$	2,855		$	8,149		$	(1,218	)	$	6,931
Borrowed funds
Short-term borrowings		(7	)		(5	)		(12	)		117			(25	)		92			317			(125	)		192
Federal Home Loan Bank long-term debt		2			(19	)		(17	)		43			(210	)		(167	)		(346	)		(1,320	)		(1,666	)
Other long-term debt		9			7			16			30			—			30			85			—			85

Total borrowed funds		4			(17	)		(13	)		190			(235	)		(45	)		56			(1,445	)		(1,389	)

Total interest-bearing liabilities		215			172			387			3,635			(825	)		2,810			8,205			(2,663	)		5,542

Noninterest-bearing liabilities
Noninterest bearing demand deposits
Other liabilities
Shareholders’ equity
Total liabilities & shareholders’ equity

Net interest income⁽¹⁾	$	(1,335	)	$	533		$	(802	)	$	(1,081	)	$	(1,265	)	$	(2,346	)	$	(1,024	)	$	(3,118	)	$	(4,142	)

Net interest spread⁽¹⁾
Net interest margin⁽¹⁾


⁽¹⁾		Not tax equivalent.

⁽²⁾		Loans held for sale and nonaccrual loans are both included in gross loans.

FIRST FINANCIAL BANCORP.
CREDIT QUALITY

(Dollars in thousands)
(Unaudited)


	Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,
	2007			2007			2006			2006			2006
ALLOWANCE FOR LOAN AND LEASE LOSS ACTIVITY
Balance at beginning of period	$	27,407		$	27,386		$	31,888		$	30,085		$	40,656
Provision for loan losses		2,098			1,356			5,822			2,888			360
Gross charge-offs
Commercial		920			746			5,675			1,238			3,521
Commercial real estate		176			146			1,099			119			5,818
Retail real estate		57			116			2,729			111			1,910
Installment		604			741			776			391			562
Home equity		149			139			331			78			11
All other		224			265			306			220			189

Total gross charge-offs⁽¹⁾		2,130			2,153			10,916			2,157			12,011
Recoveries
Commercial		246			269			206			458			476
Commercial real estate		48			58			20			129			57
Retail real estate		10			18			4			130			78
Installment		288			346			292			315			425
Home equity		25			76			1			0			0
All other		68			51			69			40			44

Total recoveries		685			818			592			1,072			1,080

Total net charge-offs		1,445			1,335			10,324			1,085			10,931

Ending allowance for loan losses	$	28,060		$	27,407		$	27,386		$	31,888		$	30,085


NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)⁽¹⁾
Commercial		0.37	%		0.28	%		3.27	%		0.48	%		1.95	%
Commercial real estate		0.08	%		0.06	%		0.69	%		(0.01	%)		3.55	%
Retail real estate		0.03	%		0.06	%		1.66	%		(0.01	%)		0.99	%
Installment		0.74	%		0.85	%		0.92	%		0.13	%		0.21	%
Home equity		0.21	%		0.11	%		0.57	%		0.13	%		0.02	%
All other		0.44	%		0.70	%		0.78	%		0.60	%		0.54	%

Total net charge-offs⁽¹⁾		0.23	%		0.22	%		1.64	%		0.17	%		1.68	%



⁽¹⁾ December 31, 2006 and June 30, 2006 charge-offs include $4,375 and $8,356, respectively, in loans held for sale write-downs to the lower of cost or estimated fair market value.

COMPONENTS OF NONPERFORMING LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans
Commercial	$	6,812		$	2,529		$	2,610		$	8,056		$	4,301
Commercial real estate		4,140			4,947			4,102			4,487			3,107
Retail real estate		1,694			1,311			1,482			3,604			2,362
Installment		681			920			1,328			1,619			1,529
Home equity		1,048			1,038			698			854			831
All other		21			20			16			72			72

Total nonaccrual loans		14,396			10,765			10,236			18,692			12,202
Restructured loans		581			588			596			603			610

Total nonperforming loans		14,977			11,353			10,832			19,295			12,812
Other real estate owned (OREO)		2,023			2,672			2,334			2,859			2,277

Total nonperforming assets		17,000			14,025			13,166			22,154			15,089

Accruing loans past due 90 days or more		165			81			185			788			758

Total underperforming assets	$	17,165		$	14,106		$	13,351		$	22,942		$	15,847


CREDIT QUALITY RATIOS
Allowance for loan and lease losses to
Nonaccrual loans		194.92	%		254.59	%		267.55	%		170.60	%		246.56	%
Nonperforming assets		165.06	%		195.42	%		208.01	%		143.94	%		199.38	%
Total ending loans		1.10	%		1.10	%		1.10	%		1.27	%		1.15	%
Nonaccrual loans to total loans		0.56	%		0.43	%		0.41	%		0.74	%		0.47	%
Nonperforming assets to
Ending loans, plus OREO		0.67	%		0.56	%		0.53	%		0.88	%		0.58	%
Total assets		0.52	%		0.42	%		0.40	%		0.67	%		0.44	%

FIRST FINANCIAL BANCORP.
CAPITAL DATA

(Dollars in thousands)
(Unaudited)


																Six months ended,
	Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Jun. 30,			Jun. 30,
	2007			2007			2006			2006			2006			2007			2006
PER COMMON SHARE
Market Price
High	$	15.72		$	16.76		$	17.50		$	16.04		$	16.68		$	16.76		$	18.32
Low	$	14.43		$	14.83		$	15.52		$	14.20		$	14.63		$	14.43		$	14.63
Close	$	14.99		$	15.11		$	16.61		$	15.91		$	14.91		$	14.99		$	14.91

Average shares outstanding — basic		38,965,409			39,121,105			39,377,735			39,612,408			39,605,631			39,042,827			39,582,995
Average shares outstanding — diluted		38,967,061			39,135,637			39,395,456			39,619,786			39,619,729			39,050,919			39,616,238
Ending shares outstanding		38,883,083			39,001,843			39,245,407			39,507,716			39,660,341			38,883,083			39,660,341

REGULATORY CAPITAL	Preliminary															Preliminary
Tier 1 Capital	$	295,996		$	298,020		$	299,199		$	300,551		$	296,334		$	295,996		$	296,334
Tier 1 Ratio		11.13	%		11.57	%		11.73	%		11.89	%		11.37	%		11.13	%		11.37	%
Total Capital	$	324,056		$	325,550		$	326,779		$	332,302		$	326,464		$	324,056		$	326,464
Total Capital Ratio		12.18	%		12.64	%		12.81	%		13.14	%		12.52	%		12.18	%		12.52	%
Total Risk-Adjusted Assets	$	2,659,915		$	2,575,218		$	2,551,505		$	2,528,102		$	2,606,871		$	2,659,915		$	2,606,871
Leverage Ratio		9.04	%		9.08	%		9.02	%		8.85	%		8.72	%		9.04	%		8.72	%

OTHER CAPITAL RATIOS
Ending shareholders’ equity to ending assets		8.53	%		8.54	%		8.65	%		9.06	%		8.46	%		8.53	%		8.46	%
Ending tangible shareholders’ equity to ending tangible assets		7.71	%		7.73	%		7.69	%		8.09	%		7.52	%		7.71	%		7.52	%
Average shareholders’ equity to average assets		8.58	%		8.68	%		8.98	%		8.72	%		8.64	%		8.63	%		8.53	%
Average tangible shareholders’ equity to average tangible assets		7.76	%		7.86	%		8.04	%		7.79	%		7.69	%		7.81	%		7.58	%

REPURCHASE PROGRAM⁽¹⁾
Shares repurchased		252,000			244,000			252,000			152,000			0			496,000			0
Average share repurchase price	$	15.07		$	16.11		$	16.64		$	15.59			—		$	15.58			—
Total cost of shares repurchased	$	3,797,343		$	3,930,945		$	4,192,464		$	2,369,286			—		$	7,728,288			—


⁽¹⁾		Represents share repurchases as part of publicly announced plans.