First Financial Bancorp. (FFBC) 8-K Other Events

Exhibit 99.1

Selected Financial Information

March 31, 2020

(unaudited)

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

FIRST FINANCIAL BANCORP.

CONSOLIDATED FINANCIAL HIGHLIGHTS

(Dollars in thousands, except per share data)

(Unaudited)

	Three Months Ended,
	Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,
	2020			2019			2019			2019			2019
RESULTS OF OPERATIONS
Net income	$	28,628		$	48,677		$	50,856		$	52,703		$	45,839
Net earnings per share - basic	$	0.29		$	0.49		$	0.52		$	0.54		$	0.47
Net earnings per share - diluted	$	0.29		$	0.49		$	0.51		$	0.53		$	0.47
Dividends declared per share	$	0.23		$	0.23		$	0.23		$	0.22		$	0.22
KEY FINANCIAL RATIOS
Return on average assets		0.79	%		1.34	%		1.41	%		1.50	%		1.33	%
Return on average shareholders' equity		5.21	%		8.60	%		9.13	%		9.85	%		8.88	%
Return on average tangible shareholders' equity		9.71	%		15.84	%		16.15	%		17.33	%		15.95	%
Net interest margin		3.71	%		3.84	%		3.91	%		3.99	%		4.05	%
Net interest margin (fully tax equivalent)(1)		3.77	%		3.89	%		3.96	%		4.04	%		4.10	%
Ending shareholders' equity as a percent of ending assets		14.47	%		15.49	%		15.62	%		15.16	%		15.14	%
Ending tangible shareholders' equity as a percent of:
Ending tangible assets		8.25	%		9.07	%		9.17	%		9.34	%		9.15	%
Risk-weighted assets		10.50	%		11.09	%		11.34	%		11.82	%		11.61	%
Average shareholders' equity as a percent of average assets		15.21	%		15.53	%		15.43	%		15.22	%		15.01	%
Average tangible shareholders' equity as a percent of average tangible assets		8.79	%		9.07	%		9.35	%		9.26	%		8.95	%
Book value per share	$	22.25		$	22.82		$	22.59		$	22.18		$	21.60
Tangible book value per share	$	11.82		$	12.42		$	12.33		$	12.79		$	12.19
Common equity tier 1 ratio(2)		11.27	%		11.30	%		11.52	%		12.00	%		12.03	%
Tier 1 ratio(2)		11.66	%		11.69	%		11.91	%		12.40	%		12.43	%
Total capital ratio(2)		13.54	%		13.39	%		13.62	%		14.20	%		14.24	%
Leverage ratio(2)		9.49	%		9.58	%		9.75	%		10.02	%		9.84	%
AVERAGE BALANCE SHEET ITEMS
Loans(3)	$	9,220,643		$	9,149,222		$	9,014,092		$	8,852,662		$	8,773,310
Investment securities		3,115,723			3,102,867			3,290,666			3,408,994			3,355,732
Interest-bearing deposits with other banks		39,332			36,672			38,569			33,255			34,709
Total earning assets	$	12,375,698		$	12,288,761		$	12,343,327		$	12,294,911		$	12,163,751
Total assets	$	14,524,422		$	14,460,288		$	14,320,514		$	14,102,733		$	13,952,551
Noninterest-bearing deposits	$	2,643,240		$	2,638,908		$	2,513,458		$	2,484,214		$	2,457,587
Interest-bearing deposits		7,590,791			7,583,531			7,504,708			7,612,146			7,610,092
Total deposits	$	10,234,031		$	10,222,439		$	10,018,166		$	10,096,360		$	10,067,679
Borrowings	$	1,735,767		$	1,613,696		$	1,816,983		$	1,656,570		$	1,587,068
Shareholders' equity	$	2,209,733		$	2,245,107		$	2,210,327		$	2,146,997		$	2,094,234
CREDIT QUALITY RATIOS
Allowance to ending loans		1.55	%		0.63	%		0.62	%		0.69	%		0.64	%
Allowance to nonaccrual loans		296.51	%		119.69	%		93.18	%		119.86	%		95.40	%
Allowance to nonperforming loans		203.42	%		96.73	%		71.46	%		69.33	%		68.94	%
Nonperforming loans to total loans		0.76	%		0.65	%		0.87	%		0.99	%		0.93	%
Nonperforming assets to ending loans, plus OREO		0.78	%		0.67	%		0.89	%		1.00	%		0.95	%
Nonperforming assets to total assets		0.48	%		0.42	%		0.56	%		0.62	%		0.60	%
Classified assets to total assets		0.83	%		0.62	%		0.92	%		1.02	%		1.01	%
Net charge-offs to average loans (annualized)		(0.04	)%		0.15	%		0.45	%		0.08	%		0.64	%

(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 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) March 31, 2020 regulatory capital ratios are preliminary.

(3) Includes loans held for sale.

2

FIRST FINANCIAL BANCORP.

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME

(Dollars in thousands, except per share data)

(Unaudited)

	2020			2019
	First			Fourth			Third			Second			First			Full
	Quarter			Quarter			Quarter			Quarter			Quarter			Year
Interest income
Loans and leases, including fees	$	115,775		$	122,802		$	126,786		$	126,365		$	123,056		$	499,009
Investment securities
Taxable		19,005			20,137			22,180			23,616			24,235			90,168
Tax-exempt		4,582			4,545			4,457			4,336			4,258			17,596
Total investment securities interest		23,587			24,682			26,637			27,952			28,493			107,764
Other earning assets		142			167			222			206			210			805
Total interest income		139,504			147,651			153,645			154,523			151,759			607,578
Interest expense
Deposits		16,365			19,026			20,151			20,612			19,243			79,032
Short-term borrowings		5,087			5,430			7,199			6,646			5,960			25,235
Long-term borrowings		3,770			4,293			4,760			4,963			5,041			19,057
Total interest expense		25,222			28,749			32,110			32,221			30,244			123,324
Net interest income		114,282			118,902			121,535			122,302			121,515			484,254
Provision for credit losses-loans and leases(1)		23,880			4,629			5,228			6,658			14,083			30,598
Provision for credit losses-unfunded commitments (1)		1,568			177			(216	)		(132	)		6			(165	)
Net interest income after provision for credit losses		88,834			114,096			116,523			115,776			107,426			453,821
Noninterest income
Service charges on deposit accounts		8,435			9,343			9,874			9,819			8,903			37,939
Trust and wealth management fees		4,469			3,913			3,718			3,943			4,070			15,644
Bankcard income		2,698			3,405			3,316			6,497			5,586			18,804
Client derivative fees		3,105			4,194			4,859			4,905			1,704			15,662
Foreign exchange income		9,966			6,014			1,708			17			0			7,739
Net gains from sales of loans		2,831			4,723			4,806			3,432			1,890			14,851
Net gains on sale of investment securities		(59	)		(296	)		105			(37	)		(178	)		(406	)
Other		3,939			5,472			4,754			6,062			4,852			21,140
Total noninterest income		35,384			36,768			33,140			34,638			26,827			131,373
Noninterest expenses
Salaries and employee benefits		54,822			53,952			53,212			53,985			47,912			209,061
Net occupancy		6,104			6,334			5,509			5,596			6,630			24,069
Furniture and equipment		4,053			4,145			4,120			4,222			3,416			15,903
Data processing		6,389			5,996			5,774			4,984			5,127			21,881
Marketing		1,220			1,980			1,346			1,976			1,606			6,908
Communication		890			882			910			747			728			3,267
Professional services		2,275			2,192			4,771			2,039			2,252			11,254
State intangible tax		1,516			1,767			1,445			1,307			1,310			5,829
FDIC assessments		1,405			1,055			(1,097	)		1,065			950			1,973
Intangible amortization		2,792			3,150			2,432			2,044			2,045			9,671
Other		8,200			11,434			8,020			6,545			6,517			32,516
Total noninterest expenses		89,666			92,887			86,442			84,510			78,493			342,332
Income before income taxes		34,552			57,977			63,221			65,904			55,760			242,862
Income tax expense (benefit)		5,924			9,300			12,365			13,201			9,921			44,787
Net income	$	28,628		$	48,677		$	50,856		$	52,703		$	45,839		$	198,075
ADDITIONAL DATA
Net earnings per share - basic	$	0.29		$	0.49		$	0.52		$	0.54		$	0.47		$	2.01
Net earnings per share - diluted	$	0.29		$	0.49		$	0.51		$	0.53		$	0.47		$	2.00
Dividends declared per share	$	0.23		$	0.23		$	0.23		$	0.22		$	0.22		$	0.90
Return on average assets		0.79	%		1.34	%		1.41	%		1.50	%		1.33	%		1.39	%
Return on average shareholders' equity		5.21	%		8.60	%		9.13	%		9.85	%		8.88	%		9.11	%
Interest income	$	139,504		$	147,651		$	153,645		$	154,523		$	151,759		$	607,578
Tax equivalent adjustment		1,624			1,630			1,759			1,416			1,523			6,328
Interest income - tax equivalent		141,128			149,281			155,404			155,939			153,282			613,906
Interest expense		25,222			28,749			32,110			32,221			30,244			123,324
Net interest income - tax equivalent	$	115,906		$	120,532		$	123,294		$	123,718		$	123,038		$	490,582
Net interest margin		3.71	%		3.84	%		3.91	%		3.99	%		4.05	%		3.95	%
Net interest margin (fully tax equivalent)(2)		3.77	%		3.89	%		3.96	%		4.04	%		4.10	%		4.00	%
Full-time equivalent employees		2,067			2,065			2,064			2,076			2,087

(1) Beginning January 1,2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on the incurred loss methodology.

(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 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 STATEMENTS OF CONDITION

(Dollars in thousands)

(Unaudited)

	Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,			% Change			% Change
	2020			2019			2019			2019			2019			Linked Qtr.			Comp Qtr.
ASSETS
Cash and due from banks	$	261,892		$	200,691		$	242,482		$	169,694		$	169,004			30.5	%		55.0	%
Interest-bearing deposits with other banks		71,071			56,948			39,669			101,668			50,224			24.8	%		41.5	%
Investment securities available-for-sale		2,908,688			2,852,084			2,850,502			3,152,970			3,113,811			2.0	%		(6.6	)%
Investment securities held-to-maturity		136,744			142,862			148,778			154,327			158,305			(4.3	)%		(13.6	)%
Other investments		143,581			125,020			124,965			127,439			115,731			14.8	%		24.1	%
Loans held for sale		27,334			13,680			23,528			20,244			8,217			99.8	%		232.7	%
Loans and leases
Commercial and industrial		2,477,773			2,465,877			2,470,017			2,547,997			2,543,427			0.5	%		(2.6	)%
Lease financing		82,602			88,364			92,616			90,638			95,573			(6.5	)%		(13.6	)%
Construction real estate		500,311			493,182			515,960			497,683			458,113			1.4	%		9.2	%
Commercial real estate		4,278,257			4,194,651			4,015,908			3,903,654			3,802,179			2.0	%		12.5	%
Residential real estate		1,061,792			1,055,949			1,055,007			1,015,820			975,120			0.6	%		8.9	%
Home equity		781,243			771,869			776,885			787,139			797,118			1.2	%		(2.0	)%
Installment		80,085			82,589			88,275			89,149			90,689			(3.0	)%		(11.7	)%
Credit card		45,756			49,184			49,010			48,706			46,982			(7.0	)%		(2.6	)%
Total loans		9,307,819			9,201,665			9,063,678			8,980,786			8,809,201			1.2	%		5.7	%
Less:
Allowance for credit losses(1)		143,885			57,650			56,552			61,549			56,722			149.6	%		153.7	%
Net loans		9,163,934			9,144,015			9,007,126			8,919,237			8,752,479			0.2	%		4.7	%
Premises and equipment		212,787			214,506			213,681			211,313			210,676			(0.8	)%		1.0	%
Goodwill		937,771			937,771			937,689			879,727			879,727			0.0	%		6.6	%
Other intangibles		73,258			76,201			79,506			36,349			38,571			(3.9	)%		89.9	%
Accrued interest and other assets		1,120,507			747,847			812,519			664,695			577,518			49.8	%		94.0	%
Total Assets	$	15,057,567		$	14,511,625		$	14,480,445		$	14,437,663		$	14,074,263			3.8	%		7.0	%
LIABILITIES
Deposits
Interest-bearing demand	$	2,498,109		$	2,364,881		$	2,316,301		$	2,332,692		$	2,235,036			5.6	%		11.8	%
Savings		2,978,250			2,960,979			2,924,200			2,953,114			3,100,894			0.6	%		(4.0	)%
Time		2,435,858			2,240,441			2,308,617			2,321,908			2,309,810			8.7	%		5.5	%
Total interest-bearing deposits		7,912,217			7,566,301			7,549,118			7,607,714			7,645,740			4.6	%		3.5	%
Noninterest-bearing		2,723,341			2,643,928			2,534,739			2,501,290			2,488,157			3.0	%		9.5	%
Total deposits		10,635,558			10,210,229			10,083,857			10,109,004			10,133,897			4.2	%		5.0	%
Federal funds purchased and securities sold under agreements to repurchase		215,824			165,181			85,286			260,621			95,015			30.7	%		127.1	%
FHLB short-term borrowings		1,181,900			1,151,000			1,128,900			1,052,700			952,400			2.7	%		24.1	%
Total short-term borrowings		1,397,724			1,316,181			1,214,186			1,313,321			1,047,415			6.2	%		33.4	%
Long-term debt		325,566			414,376			498,778			547,042			546,423			(21.4	)%		(40.4	)%
Total borrowed funds		1,723,290			1,730,557			1,712,964			1,860,363			1,593,838			(0.4	)%		8.1	%
Accrued interest and other liabilities		519,336			323,134			422,311			280,107			216,109			60.7	%		140.3	%
Total Liabilities		12,878,184			12,263,920			12,219,132			12,249,474			11,943,844			5.0	%		7.8	%
SHAREHOLDERS' EQUITY
Common stock		1,633,950			1,640,771			1,639,333			1,623,699			1,622,554			(0.4	)%		0.7	%
Retained earnings		660,653			711,249			685,368			657,730			626,408			(7.1	)%		5.5	%
Accumulated other comprehensive income (loss)		11,788			13,323			15,450			5,193			(19,635	)		(11.5	)%		160.0	%
Treasury stock, at cost		(127,008	)		(117,638	)		(78,838	)		(98,433	)		(98,908	)		8.0	%		28.4	%
Total Shareholders' Equity		2,179,383			2,247,705			2,261,313			2,188,189			2,130,419			(3.0	)%		2.3	%
Total Liabilities and Shareholders' Equity	$	15,057,567		$	14,511,625		$	14,480,445		$	14,437,663		$	14,074,263			3.8	%		7.0	%

(1) Beginning January 1,2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on the incurred loss methodology.

4

FIRST FINANCIAL BANCORP.

AVERAGE CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)

(Unaudited)

	Quarterly Averages
	Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,
	2020			2019			2019			2019			2019
ASSETS
Cash and due from banks	$	235,696		$	221,060		$	191,000		$	173,278		$	181,695
Interest-bearing deposits with other banks		39,332			36,672			38,569			33,255			34,709
Investment securities		3,115,723			3,102,867			3,290,666			3,408,994			3,355,732
Loans held for sale		13,174			21,050			18,197			13,258			6,392
Loans and leases
Commercial and industrial		2,450,893			2,469,810			2,509,782			2,533,981			2,509,274
Lease financing		85,782			91,225			94,858			94,458			91,043
Construction real estate		501,471			501,892			509,742			457,962			496,153
Commercial real estate		4,209,345			4,102,288			3,925,028			3,834,404			3,762,314
Residential real estate		1,055,456			1,053,707			1,035,975			989,923			961,584
Home equity		773,082			773,119			781,340			789,087			807,768
Installment		81,234			85,515			88,760			89,778			91,270
Credit card		50,206			50,616			50,410			49,811			47,512
Total loans		9,207,469			9,128,172			8,995,895			8,839,404			8,766,918
Less:
Allowance for credit losses(1)		121,126			56,649			61,911			58,335			57,088
Net loans		9,086,343			9,071,523			8,933,984			8,781,069			8,709,830
Premises and equipment		215,545			215,171			215,671			211,714			213,208
Goodwill		937,771			937,710			899,888			879,726			878,541
Other intangibles		75,014			78,190			51,365			37,666			39,900
Accrued interest and other assets		805,824			776,045			681,174			563,773			532,544
Total Assets	$	14,524,422		$	14,460,288		$	14,320,514		$	14,102,733		$	13,952,551
LIABILITIES
Deposits
Interest-bearing demand	$	2,418,193		$	2,373,962		$	2,325,405		$	2,334,322		$	2,269,948
Savings		2,976,518			2,995,395			2,945,076			3,057,100			3,115,557
Time		2,196,080			2,214,174			2,234,227			2,220,724			2,224,587
Total interest-bearing deposits		7,590,791			7,583,531			7,504,708			7,612,146			7,610,092
Noninterest-bearing		2,643,240			2,638,908			2,513,458			2,484,214			2,457,587
Total deposits		10,234,031			10,222,439			10,018,166			10,096,360			10,067,679
Federal funds purchased and securities sold under agreements to repurchase		164,093			206,800			185,156			126,872			103,147
FHLB short-term borrowings		1,189,765			952,625			1,112,091			982,993			913,974
Total short-term borrowings		1,353,858			1,159,425			1,297,247			1,109,865			1,017,121
Long-term debt		381,909			454,271			519,736			546,705			569,947
Total borrowed funds		1,735,767			1,613,696			1,816,983			1,656,570			1,587,068
Accrued interest and other liabilities		344,891			379,046			275,038			202,806			203,570
Total Liabilities		12,314,689			12,215,181			12,110,187			11,955,736			11,858,317
SHAREHOLDERS' EQUITY
Common stock		1,638,851			1,640,066			1,629,286			1,622,994			1,625,228
Retained earnings		660,108			691,236			662,899			635,629			610,737
Accumulated other comprehensive loss		31,200			13,986			11,985			(12,889	)		(39,796	)
Treasury stock, at cost		(120,426	)		(100,181	)		(93,843	)		(98,737	)		(101,935	)
Total Shareholders' Equity		2,209,733			2,245,107			2,210,327			2,146,997			2,094,234
Total Liabilities and Shareholders' Equity	$	14,524,422		$	14,460,288		$	14,320,514		$	14,102,733		$	13,952,551

(1) Beginning January 1,2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on the incurred loss methodology.

5

FIRST FINANCIAL BANCORP.

NET INTEREST MARGIN RATE/VOLUME ANALYSIS

(Dollars in thousands)

(Unaudited)

	Quarterly Averages
	March 31, 2020						December 31, 2019						March 31, 2019						Linked Qtr. Income Variance									Comparable Qtr. Income Variance
	Balance			Yield			Balance			Yield			Balance			Yield			Rate			Volume			Total			Rate			Volume			Total
Earning assets
Investments:
Investment securities	$	3,115,723			3.04	%	$	3,102,867			3.16	%	$	3,355,732			3.44	%	$	(934	)	$	(161	)	$	(1,095	)	$	(3,368	)	$	(1,538	)	$	(4,906	)
Interest-bearing deposits with other banks		39,332			1.45	%		36,672			1.81	%		34,709			2.45	%		(33	)		8			(25	)		(86	)		18			(68	)
Gross loans(1)		9,220,643			5.04	%		9,149,222			5.33	%		8,773,310			5.69	%		(6,661	)		(366	)		(7,027	)		(14,108	)		6,827			(7,281	)
Total earning assets		12,375,698			4.52	%		12,288,761			4.77	%		12,163,751			5.06	%		(7,628	)		(519	)		(8,147	)		(17,562	)		5,307			(12,255	)
Nonearning assets
Allowance for credit losses		(121,126	)					(56,649	)					(57,088	)
Cash and due from banks		235,696						221,060						181,695
Accrued interest and other assets		2,034,154						2,007,116						1,664,193
Total assets	$	14,524,422					$	14,460,288					$	13,952,551
Interest-bearing liabilities
Deposits:
Interest-bearing demand	$	2,418,193			0.45	%	$	2,373,962			0.53	%	$	2,269,948			0.50	%
Savings		2,976,518			0.45	%		2,995,395			0.60	%		3,115,557			0.76	%
Time		2,196,080			1.88	%		2,214,174			2.03	%		2,224,587			1.94	%
Total interest-bearing deposits		7,590,791			0.86	%		7,583,531			1.00	%		7,610,092			1.03	%	$	(2,497	)	$	(164	)	$	(2,661	)	$	(3,017	)	$	139		$	(2,878	)
Borrowed funds
Short-term borrowings		1,353,858			1.51	%		1,159,425			1.86	%		1,017,121			2.38	%		(1,026	)		683			(343	)		(2,180	)		1,307			(873	)
Long-term debt		381,909			3.96	%		454,271			3.75	%		569,947			3.59	%		241			(764	)		(523	)		523			(1,794	)		(1,271	)
Total borrowed funds		1,735,767			2.05	%		1,613,696			2.39	%		1,587,068			2.81	%		(785	)		(81	)		(866	)		(1,657	)		(487	)		(2,144	)
Total interest-bearing liabilities		9,326,558			1.08	%		9,197,227			1.24	%		9,197,160			1.33	%		(3,282	)		(245	)		(3,527	)		(4,674	)		(348	)		(5,022	)
Noninterest-bearing liabilities
Noninterest-bearing demand deposits		2,643,240						2,638,908						2,457,587
Other liabilities		344,891						379,046						203,570
Shareholders' equity		2,209,733						2,245,107						2,094,234
Total liabilities & shareholders' equity	$	14,524,422					$	14,460,288					$	13,952,551
												��
Net interest income	$	114,282					$	118,902					$	121,515					$	(4,346	)	$	(274	)	$	(4,620	)	$	(12,888	)	$	5,655		$	(7,233	)
Net interest spread					3.44	%					3.53	%					3.73	%
Net interest margin					3.71	%					3.84	%					4.05	%
Tax equivalent adjustment					0.06	%					0.05	%					0.05	%
Net interest margin (fully tax equivalent)					3.77	%					3.89	%					4.10	%

⁽¹⁾Loans held for sale and nonaccrual loans are included in gross loans.

6

FIRST FINANCIAL BANCORP.

CREDIT QUALITY

(Dollars in thousands)

(Unaudited)

	Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,
	2020			2019			2019			2019			2019
ALLOWANCE FOR CREDIT LOSS ACTIVITY
Balance at beginning of period, prior to adoption of ASC 326	$	57,650		$	56,552		$	61,549		$	56,722		$	56,542
Impact of adopting ASC 326		61,505			0			0			0			0
Provision for credit losses		23,880			4,629			5,228			6,658			14,083
Gross charge-offs
Commercial and industrial		1,091			2,919			9,556			1,873			12,328
Lease financing		0			62			0			0			100
Construction real estate		0			0			0			0			0
Commercial real estate		4			1,854			535			86			1,214
Residential real estate		115			167			278			150			82
Home equity		267			807			627			689			468
Installment		61			31			65			78			49
Credit card		311			319			598			289			341
Total gross charge-offs		1,849			6,159			11,659			3,165			14,582
Recoveries
Commercial and industrial		2,000			1,796			556			291			240
Lease financing		0			0			0			0			0
Construction real estate		0			0			0			5			63
Commercial real estate		234			439			347			254			73
Residential real estate		52			72			64			101			36
Home equity		339			243			335			572			185
Installment		31			49			93			61			48
Credit card		43			29			39			50			34
Total recoveries		2,699			2,628			1,434			1,334			679
Total net charge-offs		(850	)		3,531			10,225			1,831			13,903
Ending allowance for credit losses	$	143,885		$	57,650		$	56,552		$	61,549		$	56,722
NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)
Commercial and industrial		(0.15	)%		0.18	%		1.42	%		0.25	%		1.95	%
Lease financing		0.00	%		0.27	%		0.00	%		0.00	%		0.45	%
Construction real estate		0.00	%		0.00	%		0.00	%		0.00	%		(0.05	)%
Commercial real estate		(0.02	)%		0.14	%		0.02	%		(0.02	)%		0.12	%
Residential real estate		0.02	%		0.04	%		0.08	%		0.02	%		0.02	%
Home equity		(0.04	)%		0.29	%		0.15	%		0.06	%		0.14	%
Installment		0.15	%		(0.08	)%		(0.13	)%		0.08	%		0.00	%
Credit card		2.15	%		2.27	%		4.40	%		1.92	%		2.62	%
Total net charge-offs		(0.04	)%		0.15	%		0.45	%		0.08	%		0.64	%
COMPONENTS OF NONPERFORMING LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans(1)
Commercial and industrial	$	21,126		$	24,346		$	28,358		$	18,502		$	19,263
Lease financing		222			223			284			295			301
Construction real estate		0			0			5			6			7
Commercial real estate		10,050			7,295			14,889			15,981			21,082
Residential real estate		11,163			10,892			11,655			11,627			13,052
Home equity		5,821			5,242			5,427			4,745			5,581
Installment		145			167			75			195			170
Nonaccrual loans		48,527			48,165			60,693			51,351			59,456
Accruing troubled debt restructurings (TDRs)		22,206			11,435			18,450			37,420			22,817
Total nonperforming loans		70,733			59,600			79,143			88,771			82,273
Other real estate owned (OREO)		1,467			2,033			1,613			1,421			1,665
Total nonperforming assets		72,200			61,633			80,756			90,192			83,938
Accruing loans past due 90 days or more		120			201			287			107			178
Total underperforming assets	$	72,320		$	61,834		$	81,043		$	90,299		$	84,116
Total classified assets	$	124,510		$	89,250		$	132,500		$	147,753		$	142,014
CREDIT QUALITY RATIOS
Allowance for credit losses to
Nonaccrual loans		296.51	%		119.69	%		93.18	%		119.86	%		95.40	%
Nonperforming loans		203.42	%		96.73	%		71.46	%		69.33	%		68.94	%
Total ending loans		1.55	%		0.63	%		0.62	%		0.69	%		0.64	%
Nonperforming loans to total loans		0.76	%		0.65	%		0.87	%		0.99	%		0.93	%
Nonperforming assets to
Ending loans, plus OREO		0.78	%		0.67	%		0.89	%		1.00	%		0.95	%
Total assets		0.48	%		0.42	%		0.56	%		0.62	%		0.60	%
Nonperforming assets, excluding accruing TDRs to
Ending loans, plus OREO		0.54	%		0.55	%		0.69	%		0.59	%		0.69	%
Total assets		0.33	%		0.35	%		0.43	%		0.37	%		0.43	%
Classified assets to total assets		0.83	%		0.62	%		0.92	%		1.02	%		1.01	%

(1)  Nonaccrual loans include nonaccrual TDRs of $18.4 million, $18.5 million, $21.5 million, $11.0 million, and $13.1 million, as of March 31, 2020, December 31, 2019, September 30, 2019, June 30, 2019, and March 31, 2019, respectively.

7

FIRST FINANCIAL BANCORP.

CAPITAL ADEQUACY

(Dollars in thousands, except per share data)

(Unaudited)

	Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,
	2020			2019			2019			2019			2019
PER COMMON SHARE
Market Price
High	$	25.52		$	26.04		$	25.49		$	25.80		$	28.56
Low	$	12.67		$	23.24		$	22.37		$	22.16		$	23.02
Close	$	14.91		$	25.44		$	24.48		$	24.22		$	24.06
Average shares outstanding - basic		97,736,690			98,684,706			98,517,025			98,083,799			97,926,088
Average shares outstanding - diluted		98,356,214			99,232,167			99,077,723			98,648,384			98,436,311
Ending shares outstanding		97,968,958			98,490,998			100,094,819			98,647,690			98,613,872
Total shareholders' equity	$	2,179,383		$	2,247,705		$	2,261,313		$	2,188,189		$	2,130,419
REGULATORY CAPITAL		Preliminary
Common equity tier 1 capital	$	1,243,152		$	1,245,746		$	1,253,803		$	1,281,406		$	1,246,004
Common equity tier 1 capital ratio		11.27	%		11.30	%		11.52	%		12.00	%		12.03	%
Tier 1 capital	$	1,285,705		$	1,288,185		$	1,296,399		$	1,323,905		$	1,287,757
Tier 1 ratio		11.66	%		11.69	%		11.91	%		12.40	%		12.43	%
Total capital	$	1,493,100		$	1,475,813		$	1,482,708		$	1,515,382		$	1,474,723
Total capital ratio		13.54	%		13.39	%		13.62	%		14.20	%		14.24	%
Total capital in excess of minimum requirement	$	335,229		$	318,315		$	339,935		$	394,571		$	387,048
Total risk-weighted assets	$	11,027,347		$	11,023,795		$	10,883,554		$	10,674,393		$	10,358,805
Leverage ratio		9.49	%		9.58	%		9.75	%		10.02	%		9.84	%
OTHER CAPITAL RATIOS
Ending shareholders' equity to ending assets		14.47	%		15.49	%		15.62	%		15.16	%		15.14	%
Ending tangible shareholders' equity to ending tangible assets		8.25	%		9.07	%		9.17	%		9.34	%		9.15	%
Average shareholders' equity to average assets		15.21	%		15.53	%		15.43	%		15.22	%		15.01	%
Average tangible shareholders' equity to average tangible assets		8.79	%		9.07	%		9.35	%		9.26	%		8.95	%
REPURCHASE PROGRAM(1)
Shares repurchased		880,000			1,609,778			1,143,494			0			0
Average share repurchase price	$	18.96		$	24.13		$	23.94			N/A			N/A
Total cost of shares repurchased	$	16,686		$	38,846		$	27,372			N/A			N/A

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

N/A = Not applicable

8