First Financial Bancorp (FFBC) 10-Q Quarterly Report May 2018

first quarter 2018. For the three months ended March 31, 2018, the Company reported net income of $30.5 million, or $0.49 per diluted common share. These results compare to net income of $24.8 million, or $0.40 per diluted common share, for the fourth quarter of 2017 and $24.4 million, or $0.39 per diluted common share, for the first quarter of 2017.

Return on average assets for the first quarter of 2018 was 1.40% while return on average tangible common equity was 17.17%. These compare to a return on average assets of 1.13% and return on average tangible common equity of 13.85% in the fourth quarter of 2017 and a return on average assets of 1.18% and a return on average tangible common equity of 14.98% in the first quarter of 2017.

First quarter 2018 highlights include:


•	Reported net income of $0.49 per diluted common share, 1.40% return on average assets and 17.17% return on average tangible common equity


◦	Adjusted net income of $0.52 per share, 1.49% return on average assets and 18.24% return on avergage tangible common equity as detailed in the accompanying slide presentation


•	Net interest income of $75.8 million, a $0.2 million increase compared to the linked quarter


◦	Net interest margin increased 5 basis points from the linked quarter to 3.80% on a GAAP basis, 3.84% on a fully tax equivalent basis


•	Noninterest expenses of $52.3 million, or $49.9 million as adjusted


◦	Efficiency ratio of 56.4% for the first quarter; 53.8% as adjusted


•	Loan balances increased $88.8 million, or 6.0% on an annualized basis compared to the linked quarter


•	Stable credit performance with provision expense of $2.3 million; annualized net charge-offs of 13 basis points as a percentage of average loans

Full detail of the Company’s first quarter performance is provided in the accompanying financial statements and slide presentation, which also includes a reconciliation of adjusted financial results. First quarter 2018 financial highlights for MainSource Financial Group, Inc. are also included in the accompanying slide presentation.

Claude Davis, Executive Chairman, commented, “We are extremely pleased with our strong first quarter performance, representing our 110th consecutive quarter of profitability and top-quartile level returns. We are also excited about our recent merger with MainSource which closed on April 1st. We welcome

The following information was filed by First Financial Bancorp (FFBC) on Thursday, April 19, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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First Financial Bancorp's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

First Financial Bancorp provided additional information to their SEC Filing as exhibits

Exhibit 10.1: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: FFBC
CIK: 708955
Form Type: 10-Q Quarterly Report
Accession Number: 0000708955-18-000056
Submitted to the SEC: Mon May 07 2018 4:15:37 PM EST
Accepted by the SEC: Mon May 07 2018
Period: Saturday, March 31, 2018
Industry: National Commercial Banks

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First Financial Bancorp (FFBC) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2018

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