EXHIBIT 99.1

News News News News News News

April 17, 2003

First Financial Bancorp Reports First-Quarter Earnings

HAMILTON, Ohio – First Financial Bancorp (Nasdaq: FFBC) president and chief executive officer, Stanley N. Pontius, today announced first-quarter 2003 earnings of $10,631,000 or 24 cents in diluted earnings per share, compared to $12,401,000 or 27 cents for the same period in 2002. This represents an 11.1 percent decrease in earnings per share from the first quarter of 2002.

Return on assets was 1.16 percent for 2003, compared to 1.32 percent for 2002. Return on average shareholders’ equity was 11.5 percent for the first quarter of 2003, versus 12.9 percent for the comparable period in 2002.

“While our earnings have decreased relative to the first quarter of 2002, we remain cautiously optimistic that the economic factors that contributed to this decrease are stabilizing,” Pontius said. “Bancorp, like its peer banks, continues to be challenged by two fundamental issues — maintaining growth in net interest income in the current interest rate environment and the impact of economic uncertainty on credit quality.”

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

Net Interest Income:

Net interest income for the first quarter of 2003 was $3.8 million or 9.3 percent less than the first quarter of 2002. The major contributing factor to the decline in net interest income was net interest margin compression due to the asset sensitive position of Bancorp’s balance sheet. Bancorp’s net interest margin decreased to 4.37 percent in the first quarter of 2003 from 4.72 percent in the first quarter of 2002. Bancorp also reviews net interest margin on a fully tax equivalent (non-GAAP) basis for peer comparison. Bancorp’s net interest margin on a fully tax equivalent basis decreased to 4.48 percent in the

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first quarter of 2003 compared with a 4.85 percent margin in the first quarter of 2002. This margin compression was due to continued downward repricing of assets without a point-for-point decrease in deposit liability rates. The continued repricing of adjustable and variable rate loans was the primary driver in loan interest in the first quarter of 2003 that was $7.4 million or 13.6 percent lower than the comparable period a year ago. The effect of the 50 basis point (10.5 percent) decrease in the prime lending rate impacted approximately 20 percent of the existing loan portfolio during the first quarter of 2003. Investment income declined by $1.4 million or 16.6 percent from the quarter a year ago. As interest rates declined, cash flows from mortgage-related investment prepayments and called securities accelerated, causing a redeployment of funds at lower yields. In total, interest income declined by $8.9 million. A decline in total interest expense of $5.1 million or 23.4 percent in the first quarter of 2003 versus first quarter of 2002 did not offset the decline in interest income. As a result of strategies to manage interest rate risk, Bancorp also increased the amount of its long-term borrowings, thereby increasing the cost of its funding on a relative basis.

A decrease in loan balances also contributed to lower net interest income through reduced interest income. Average outstanding loan balances for the quarter were 2.1 percent lower than the prior year. Additionally, the margin and net interest income were negatively impacted by fees on loans which were $217 thousand or 11.7 percent lower in the first quarter of 2003 versus 2002. On a linked-quarter basis, the residential real estate portfolio increased $40 million, and that was comprised of both fixed rate and adjustable rate loan growth. That growth plus increases in commercial loans, offset decreases in construction, installment, credit card and leases, for total loan growth since December 2002 of $34 million or 1.2 percent.

Credit Quality:

The provision for loan loss expense for the first quarter of 2003 was $3.2 million compared to $5.6 million for the same period in 2002. Net charge-offs of $3.1 million for the first quarter were $2.4 million less than the $5.5 million in net charge-offs for the first quarter of 2002. The percentage of net charge-offs to average loans was 0.45 percent for the first quarter of 2003 compared with 0.80 percent for the same period in 2002.

Bancorp continued to maintain appropriate reserves with an allowance to ending loans ratio of 1.74 percent at quarter end versus 1.68 percent a year ago. Overall, it is management’s belief that the allowance for loan losses is adequate to absorb estimated probable credit losses.

Total nonperforming assets – which includes nonaccrual loans, restructured loans, and other real estate owned – increased to $33.2 million at the end of the first quarter of 2003 from $28.5 million at March 31, 2002.

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Nonaccrual loans decreased $1.6 million during the same period; however restructured loans increased by $5.8 million accounting for the majority of the increase in nonperforming assets.

On a linked quarter basis – first quarter 2003 compared to fourth quarter 2002 – total nonperforming assets increased $3.6 million or 12.1 percent. Total underperforming assets on a linked quarter basis increased less than one percent as loans delinquent over 90 days decreased by $3.2 million.

Bancorp’s level of nonperforming assets is reflective of the uncertain economy in the corporation’s primary markets in Ohio and Indiana. If the current economic conditions continue or decline, Bancorp could see a continued less-than-favorable impact on credit quality.

Noninterest Income:

First quarter 2003 noninterest income was $13,850,000, a decrease of 6.2 percent from the first quarter of 2002. Service charge income decreased $149,000 or 3.1 percent from the quarter a year ago. Trust revenues for the first quarter of 2003 were $279,000 or 7.0 percent less than the comparable period last year, primarily due to the effect of lower market values indicative of the overall stock market performance. The other category of noninterest income decreased $514,000 or 8.5 percent from a year ago, as gains on the sale of mortgage loans decreased $504,000. Included as a reduction in other income for the first quarter of 2003 were impairment charges of $188,000 against the mortgage-servicing asset in a valuation reserve. There were no such charges in the first quarter of 2002. Additionally, the first quarter of 2002 contained a $223,000 non-recurring life insurance gain.

Noninterest Expense:

Total noninterest expense increased less than 1 percent for the first quarter of 2003 over the first quarter of 2002. The single largest category of increase is salaries and employee benefits, up almost $400,000 due to increased healthcare costs and the addition of staff in support and risk management functions. The increase in salaries and employee benefits was approximately 6 percent, adjusting for Project Renaissance expenses in the first quarter of 2002. Data-processing expense was down $380,000 over 2002 due to the efficiencies gained through Project Renaissance.

Other Items:

Bancorp repurchased 447,400 shares of its common stock during the first quarter of 2003 under a previously approved and ongoing program for general corporate purposes.

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Also during the first quarter of 2003, Flagstone Insurance and Financial Services completed the cash purchase of Wilson Lawson Meyers Insurance Agency in Connersville, Indiana. Flagstone Insurance operates as an affiliate of Heritage Community Bank.

Bancorp has expanded the functionality of the investor-relations portion of its web site at www.ffbcoh.com by partnering with SNL Financial, LC, a leading provider of banking industry data and the IR WebLink product. Information regarding previous SEC filings and press releases, as well as historical stock price information and peer comparisons, can be accessed. Bancorp is committed to providing timely and useful information to the investment community and its shareholders.

A $3.7 billion publicly owned bank holding company with over 4,000 shareholders, First Financial Bancorp currently operates 8 banking affiliates in Ohio, Michigan, Kentucky, and Indiana with a total of 105 retail banking centers as well as an investment-advisor affiliate.

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, 2002. Management’s analysis may contain 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 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 2002 Form 10-K.

First Financial Bancorp
P.O. Box 476
Hamilton, OH 45012
Analyst Contact: C. Douglas Lefferson
513-867-4993
doug.lefferson@ffbc-oh.com
Media Contact: Cheryl R. Lipp
513-867-4929
cheryl.lipp@comfirst.com

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FIRST FINANCIAL BANCORP.
CONSOLIDATED FINANCIAL DATA

(Dollars in thousands, except per share data)
(Unaudited)

					Three months ended,
					Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,
					2003				2002				2002				2002				2002
EARNINGS
Net interest income					$	37,236			$	39,447			$	40,583			$	41,681			$	41,046
Net earnings						10,631				11,601				10,802				13,431				12,401
Net earnings per share — basic					$	0.24			$	0.26			$	0.24			$	0.29			$	0.27
Net earnings per share — diluted					$	0.24			$	0.26			$	0.24			$	0.29			$	0.27
KEY RATIOS
Return on average assets						1.16	%			1.25	%			1.16	%			1.44	%			1.32	%
Return on average shareholders’ equity						11.52	%			12.22	%			11.10	%			13.92	%			12.93	%
Average shareholders’ equity to average assets						10.03	%			10.26	%			10.50	%			10.35	%			10.25	%
Net interest margin						4.37	%			4.60	%			4.70	%			4.81	%			4.72	%
Net interest margin (fully tax equivalent)						4.48	%			4.72	%			4.82	%			4.93	%			4.85	%
COMMON STOCK DATA
Average basic shares outstanding						44,893,511				45,217,538				45,686,803				46,129,716				46,504,814
Average diluted shares outstanding						45,048,972				45,369,400				45,812,452				46,214,803				46,678,785
Ending shares outstanding						44,709,604				45,003,923				45,458,525				45,926,107				46,344,961
Market price:
		High			$	17.19			$	18.87			$	20.00			$	20.31			$	17.82
		Low			$	15.26			$	15.99			$	15.90			$	15.80			$	15.65
		Close			$	15.86			$	16.39			$	17.81			$	19.57			$	15.72
Book value					$	8.34			$	8.39			$	8.49			$	8.40			$	8.22
Common dividend declared					$	0.15			$	0.15			$	0.15			$	0.15			$	0.15
AVERAGE BALANCE SHEET ITEMS
Loans less unearned income					$	2,765,970			$	2,751,664			$	2,777,657			$	2,789,773			$	2,824,667
Investment securities						650,619				605,729				634,160				645,240				626,323
Other earning assets						40,751				44,556				15,518				39,025				72,936
	Total earning assets					3,457,340				3,401,949				3,427,335				3,474,038				3,523,926
Total assets						3,730,744				3,670,699				3,678,706				3,736,305				3,796,324
Noninterest-bearing deposits						416,824				410,568				396,230				406,772				413,129
Interest-bearing deposits						2,487,612				2,487,086				2,498,098				2,571,163				2,623,456
	Total deposits					2,904,436				2,897,654				2,894,328				2,977,935				3,036,585
Borrowings						410,100				356,646				367,367				352,609				343,993
Shareholders’ equity						374,236				376,515				386,211				386,892				388,976
CREDIT QUALITY
Ending allowance for loan losses					$	48,305			$	48,177			$	48,890			$	47,709			$	46,876
Nonperforming assets:
	Nonaccrual					24,276				21,456				28,679				23,655				25,926
	Restructured					6,291				5,375				691				39				453
	OREO					2,636				2,792				1,619				2,181				2,112
		Total nonperforming assets				33,203				29,623				30,989				25,875				28,491
Loans delinquent over 90 days						3,575				6,818				7,360				4,752				3,698
Gross charge-offs:
	Commercial real estate					(112	)			(618	)			(56	)			(243	)			(108	)
	Commercial loans and leases					(1,699	)			(1,669	)			(2,479	)			(1,111	)			(3,693	)
	Consumer					(2,354	)			(2,844	)			(2,343	)			(2,009	)			(2,502	)
	All other					0				(13	)			(84	)			(18	)			(83	)
		Total gross charge-offs				(4,165	)			(5,144	)			(4,962	)			(3,381	)			(6,386	)
Recoveries:
	Commercial real estate					5				111				1				7				15
	Commercial loans and leases					432				1,763				438				214				421
	Consumer					642				567				512				545				389
	All other					0				49				3				44				13
		Total recoveries				1,079				2,490				954				810				838
			Total net charge-offs			(3,086	)			(2,654	)			(4,008	)			(2,571	)			(5,548	)
CREDIT QUALITY RATIOS
Allowance to ending loans, net of unearned income						1.74	%			1.75	%			1.76	%			1.71	%			1.68	%
Nonperforming assets to ending loans, net of unearned income plus OREO						1.19	%			1.08	%			1.11	%			0.93	%			1.02	%
90 days past due to loans, net of unearned income						0.13	%			0.25	%			0.26	%			0.17	%			0.13	%
Net charge-offs to average loans, net of unearned income						0.45	%			0.38	%			0.57	%			0.37	%			0.80	%

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF EARNINGS

(Dollars in thousands)
(Unaudited)

						Three months ended,
						Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,
						2003				2002				2002				2002				2002
Interest income
	Loans, including fees					$	46,704			$	49,827			$	51,459			$	52,768			$	54,077
	Investment securities
		Taxable					5,258				5,505				6,208				6,708				6,450
		Tax-exempt					1,664				1,740				1,769				1,815				1,848
				Total investment securities interest			6,922				7,245				7,977				8,523				8,298
	Interest-bearing deposits with other banks						51				42				64				97				137
	Federal funds sold and securities purchased under agreements to resell						145				163				36				97				198
				Total interest income			53,822				57,277				59,536				61,485				62,710
Interest expense
	Deposits						12,084				13,580				14,826				15,867				17,823
	Short-term borrowings						451				380				539				421				387
	Long-term borrowings						3,931				3,731				3,588				3,516				3,454
	Corporation-obligated mandatorily redeemable capital securities of subsidiary trust						120				139				0				0				0
			Total interest expense				16,586				17,830				18,953				19,804				21,664
			Net interest income				37,236				39,447				40,583				41,681				41,046
	Provision for loan losses						3,214				1,941				5,189				3,404				5,640
		Net interest income after provision for loan losses					34,022				37,506				35,394				38,277				35,406
Noninterest income
	Service charges on deposit accounts						4,598				4,980				4,911				4,927				4,747
	Trust revenues						3,707				3,739				3,792				3,868				3,986
	Investment securities gains						28				80				0				5				4
	Other						5,517				4,788				5,683				5,158				6,031
			Total noninterest income				13,850				13,587				14,386				13,958				14,768
Noninterest expenses
	Salaries and employee benefits						18,191				17,644				18,021				18,159				17,795
	Net occupancy						2,078				2,139				1,901				2,003				1,930
	Furniture and equipment						1,801				2,170				2,029				1,785				1,745
	Data processing						1,487				1,630				2,306				2,014				1,867
	Deposit insurance						100				137				185				142				145
	State taxes						460				431				381				448				487
	Amortization of intangibles						201				201				211				212				223
	Other						7,441				10,013				9,234				7,657				7,267
			Total noninterest expenses				31,759				34,365				34,268				32,420				31,459
Income before income taxes							16,113				16,728				15,512				19,815				18,715
Income tax expense							5,482				5,127				4,710				6,384				6,314
			Net earnings			$	10,631			$	11,601			$	10,802			$	13,431			$	12,401

ADDITIONAL DATA — FULLY TAX EQUIVALENT NET INTEREST INCOME

Interest income			$	53,822			$	57,277			$	59,536			$	61,485			$	62,710
Tax equivalent adjustment				938				984				1,017				1,044				1,063
	Interest income — tax equivalent			54,760				58,261				60,553				62,529				63,773
Interest expense				16,586				17,830				18,953				19,804				21,664
	Net interest income — tax equivalent		$	38,174			$	40,431			$	41,600			$	42,725			$	42,109

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)
(Unaudited)

						Mar. 31,				Dec. 31,				Mar. 31,
						2003				2002				2002
ASSETS
	Cash and due from banks					$	179,317			$	181,839			$	146,113
	Interest-bearing deposits with other banks						6,925				4,474				21,767
	Federal funds sold and securities purchased under agreements to resell						16,416				28,291				26,586
	Investment securities, held-to-maturity						20,620				21,571				22,470
	Investment securities, available-for-sale						673,620				605,345				625,752
	Loans
				Commercial			702,042				690,656*				759,778
				Real estate-construction			85,402				89,674				80,919
				Real estate-mortgage			1,408,345				1,368,207*				1,322,089
				Installment			547,986				556,975				578,626
				Credit card			20,355				22,068				20,772
				Lease financing			18,446				21,031				31,617
				Total loans			2,782,576				2,748,611				2,793,801
				Less
				Unearned income			334				523				1,442
				Allowance for loan losses			48,305				48,177				46,876
				Net loans			2,733,937				2,699,911				2,745,483
	Premises and equipment						56,337				56,348				60,215
	Goodwill						27,379				27,379				27,379
	Other intangibles						8,818				9,147				9,241
	Deferred income taxes receivable						6,386				4,107				1,357
	Other assets						91,233				91,540				84,450
				Total Assets		$	3,820,988			$	3,729,952			$	3,770,813
LIABILITIES
	Deposits
			Noninterest-bearing			$	431,169			$	422,453			$	422,007
			Interest-bearing				2,517,665				2,499,981				2,588,328
				Total deposits			2,948,834				2,922,434				3,010,335
	Short-term borrowings						133,282				95,180				86,017
	Long-term borrowings						318,053				290,051				261,285
	Corporation-obligated mandatorily redeemable capital securities of subsidiary trust						10,000				10,000				0
	Accrued interest and other liabilities						37,729				34,684				32,401
				Total Liabilities			3,447,898				3,352,349				3,390,038
SHAREHOLDERS’ EQUITY
		Common stock					395,946				396,252				396,613
		Retained earnings					42,914				39,005				23,679
		Accumulated comprehensive income					6,407				8,189				2,896
		Restricted stock awards					(5,902	)			(4,022	)			(5,215	)
		Treasury stock, at cost					(66,275	)			(61,821	)			(37,198	)
				Total Shareholders’ Equity			373,090				377,603				380,775
				Total Liabilities and Shareholders’ Equity		$	3,820,988			$	3,729,952			$	3,770,813

ADDITIONAL DATA — RISK BASED CAPITAL

		Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,
		2003				2002				2002				2002				2002
Tier 1 Capital		$	341,739			$	344,090			$	350,918			$	345,037			$	346,040
Tier 1 Ratio			12.66	%			12.62	%			12.89	%			12.66	%			12.63	%
Total Capital		$	375,662			$	378,339			$	385,137			$	379,265			$	380,447
Total Capital Ratio			13.92	%			13.88	%			14.14	%			13.92	%			13.88	%
Total Risk-Adjusted Assets		$	2,699,431			$	2,726,025			$	2,722,820			$	2,724,721			$	2,740,088
Leverage Ratio			9.24	%			9.46	%			9.62	%			9.31	%			9.09	%

* Includes reclassification of approximately $70 million from Commercial to Real estate-mortgage during the period.

FIRST FINANCIAL BANCORP.
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)

						Quarterly Averages
						Mar. 31,				Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,
						2003				2002				2002				2002				2002
ASSETS
	Cash and due from banks					$	140,351			$	141,484			$	122,045			$	126,820			$	136,624
	Interest-bearing deposits with other banks						9,294				5,605				9,900				16,505				25,058
	Federal funds sold and securities purchased under agreements to resell						31,457				38,951				5,618				22,520				47,878
	Investment securities						650,619				605,729				634,160				645,240				626,323
	Loans
			Commercial				701,288				683,576	*			741,938	*			796,984				774,872
			Real estate-construction				86,466				107,238				71,439				88,092				77,964
			Real estate-mortgage				1,388,330				1,351,743	*			1,342,129	*			1,294,918				1,337,121
			Installment				549,668				565,887				575,502				560,402				580,726
			Credit card				20,692				20,973				21,093				20,893				21,402
			Lease financing				19,911				22,862				26,442				29,725				34,298
				Total loans			2,766,355				2,752,279				2,778,543				2,791,014				2,826,383
			Less
				Unearned income			385				615				886				1,241				1,716
				Allowance for loan losses			48,625				50,101				48,563				47,208				47,461
				Net loans			2,717,345				2,701,563				2,729,094				2,742,565				2,777,206
	Premises and equipment						56,468				56,955				57,927				59,094				60,466
	Deferred income tax						3,958				0				0				0				0
	Other assets						121,252				120,412				119,962				123,561				122,769
		Total Assets				$	3,730,744			$	3,670,699			$	3,678,706			$	3,736,305			$	3,796,324
LIABILITIES
	Deposits
			Interest-bearing			$	298,561			$	262,957			$	273,064			$	312,239			$	327,592
			Savings				850,866				873,547				864,761				843,371				812,203
			Time				1,338,185				1,350,582				1,360,273				1,415,553				1,483,661
				Total interest-bearing deposits			2,487,612				2,487,086				2,498,098				2,571,163				2,623,456
			Noninterest-bearing				416,824				410,568				396,230				406,772				413,129
				Total deposits			2,904,436				2,897,654				2,894,328				2,977,935				3,036,585
	Borrowed funds
			Short-term borrowings				102,310				82,149				107,802				87,757				82,858
			Long-term borrowings				307,790				274,497				259,565				264,852				261,135
				Total borrowed funds			410,100				356,646				367,367				352,609				343,993
			Corporation-obligated mandatorily redeemable capital securities of subsidiary trust				10,000				10,002				543				0				0
	Deferred income tax						0				2,019				2,790				231				633
	Accrued interest and other liabilities						31,972				27,863				27,467				18,638				26,137
	Total Liabilities						3,356,508				3,294,184				3,292,495				3,349,413				3,407,348
SHAREHOLDERS’ EQUITY
	Common stock						396,033				396,257				396,276				396,486				396,655
	Retained earnings						38,881				31,874				33,531				31,133				25,069
	Accumulated comprehensive income						8,379				10,655				10,559				5,648				6,477
	Restricted stock awards						(5,625	)			(4,193	)			(4,545	)			(4,996	)			(4,525	)
	Treasury stock, at cost						(63,432	)			(58,078	)			(49,610	)			(41,379	)			(34,700	)
	Total Shareholders’ Equity						374,236				376,515				386,211				386,892				388,976
	Total Liabilities and Shareholders’ Equity					$	3,730,744			$	3,670,699			$	3,678,706			$	3,736,305			$	3,796,324

* Includes reclassification of approximately $70 million from Commercial to Real estate-mortgage during the third quarter of 2002, which affected the averages for the third and fourth quarters of 2002 by approximately $35 million each.