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 2007 Financial Results

	•		Full year 2007 net earnings of $0.93 per diluted share, an increase of 72 percent over 2006, and fourth quarter 2007 net earnings of $0.29 per diluted share
	•		Full year return on average assets of 1.08 percent and return on average shareholders’ equity of 12.73 percent
	•		Period-end growth in commercial, commercial real estate, and construction loans of 17.5 percent from year-end 2006
	•		Credit quality remains stable
	•		Strong noninterest income growth versus 2006

HAMILTON, Ohio – January 29, 2008 – First Financial Bancorp (Nasdaq: FFBC) president and chief executive officer, Claude E. Davis, today announced full year 2007 net income of $35.7 million or 93 cents in diluted earnings per share, compared to $21.3 million or 54 cents in diluted earnings per share for the full year 2006. First Financial also announced fourth quarter 2007 net income of $10.7 million or 29 cents in diluted earnings per share, compared to $0.8 million or 2 cents in diluted earnings per share for the fourth quarter 2006. Net income was $8.4 million or 22 cents in diluted earnings per share in the third quarter 2007.

Davis said, “We are pleased with our fourth quarter performance, particularly against the backdrop of a very difficult quarter for the banking industry, and believe that our full year results are strong evidence that the efforts put forth by our associates in the implementation of our strategic initiatives are paying off.  While current economic conditions may put stress on both commercial and consumer borrowers, we remain optimistic that our strong credit processes will allow us to effectively manage our credit risk.

“Our capital position is strong, and we have a diversified portfolio of earning assets that should help us mitigate any significant macro-economic risks. The interest rate environment will have some negative impact on our performance, but overall we believe we are well positioned to capitalize on opportunities that are sure to present themselves in these interesting times.”

Return on average assets for the full year 2007 was 1.08 percent compared to 0.62 percent for the full year 2006. Fourth quarter 2007 return on average assets was 1.27 percent compared to 0.10 percent for the same period in 2006 and 1.00 percent last quarter. Return on average shareholders’ equity was 12.73 percent for the full year 2007 compared to 7.13 percent for the full year 2006. Fourth quarter 2007 return on average shareholders’ equity was 15.37 percent compared to 1.10 percent for the same period in 2006 and 12.03 percent last quarter.

Unless otherwise noted, all amounts discussed in the earnings release are pre-tax except net income and per-share data which is presented after-tax. Percentage changes are not annualized unless specifically noted.

Summary of Operating Results and Outlook of Key Drivers

Net income in the fourth quarter 2007 of $10.7 million was significantly impacted by the following items: gain on the sale of the merchant payment processing portfolio of $5.5 million or 9 cents per diluted share, pension settlement expense of $2.2 million or 4 cents per diluted share, and Visa litigation expense of $0.5 million or 1 cent per diluted share. For further detail on comparable financial results, please refer to the discussion regarding revenue and expense fluctuations found later in this release.

Net interest margin decreased to 3.94 percent for the full year 2007 from 4.01 percent for the full year 2006 primarily due to the effect of competitive increases in deposit rates and account migration to higher cost products, somewhat offset by increased yields due to the mix shift of earnings assets. In a series of actions beginning in September 2007, the Federal Reserve lowered the federal funds rate a total of 100 basis points by year-end, and an additional 75 basis points to date in January 2008, in an effort to reduce the impact on consumers and the financial markets from the subprime mortgage and credit crisis. These actions have resulted in the decline of other market interest rates, specifically the prime rate, but have created a disproportionate impact on asset yields as compared to deposit costs. The linked-quarter (fourth quarter 2007 compared to third quarter 2007) net interest margin decline of 9 basis points to 3.79 percent in the fourth quarter 2007 was primarily due to these recent actions by the Federal Reserve and the resulting impact from our asset sensitivity.

Noninterest income grew $2.8 million, or 5.5 percent, on a comparative full year basis, excluding the impact of the several significant events detailed later in this release. This net increase was primarily due to higher trust and wealth management fees and bankcard income, resulting from our successful efforts to market both products. We expect this to continue throughout 2008, though wealth management fees may be muted by overall market value decreases, should they continue.

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Noninterest expense has improved significantly as a direct result of the successful execution of the previously mentioned strategic initiatives, resulting in a reduction in noninterest expense of $31.8 million, or 20.8 percent, for the full year 2007 as compared to the full year 2006. The pension settlement charge recorded in both 2006 and 2007 was a result of First Financial’s staff reductions, and is an acceleration of costs that were previously deferred under pension accounting rules and would have been recognized in future periods. First Financial continues to evaluate its staffing levels based on its business needs and requirements; and as a result, associate base salaries excluding severance costs have decreased $5.0 million in 2007 from the full year 2006, or 9.3 percent.

The fourth quarter 2007 noninterest expense included $0.5 million associated with First Financial’s proportionate share of the announced Visa Inc. member bank settlement charges and pending litigation. It is anticipated that Visa will use a portion of the proceeds of their planned initial public offering (“IPO”) to satisfy such litigation judgments and settlements. In the event this IPO occurs, First Financial expects that its proportionate share of proceeds from the offering will more than offset its current liability for this litigation.

Please refer to the detailed schedule of significant expense items in the noninterest expense section that follows.

Loan growth during 2007 was primarily driven by First Financial’s continued efforts to expand its commercial lending sales force and deepen its market presence, primarily in its metropolitan markets. The mix shift from lower yielding consumer lending to higher yielding commercial loans continues. Period-end commercial, commercial real estate, and construction loans increased from $1.40 billion in the fourth quarter 2006 to $1.64 billion in the fourth quarter 2007, an increase of $244.2 million or 17.5 percent.

Deposit growth during 2007 was modest, with the competitive landscape remaining intense and made even more difficult by the increased liquidity pressure being exhibited by a number of banks in our markets. The consumer’s preference for higher-yielding money market accounts and time deposits, rather than more traditional transaction accounts, remains and continues to result in shifts in deposit mix. This is also the primary driver of behavior-based margin compression.

Capital ratios at December 31, 2007, significantly exceeded the levels necessary to be classified as “well capitalized” and were slightly higher than the third quarter 2007, with a leverage ratio of 8.26%, a tangible ratio of 7.41% and a total capital ratio of 11.38%. In 2008 we expect to operate within the boundaries of our target capital ratios for minimum leverage, tangible and total risk-based capital of 8.0%, 6.75% and 11.50% respectively. The timing and volume of our most recent share repurchase activity has resulted in a 12 basis point shortfall to the total capital minimum target ratio, but we expect to return to that range within the first half of 2008.

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Credit quality overall is stable, as evidenced by our level of net charge-offs, as well as the low level of nonperforming assets. Net charge-offs, as a percent of average loans, for the full year and fourth quarter of 2007 were 24 basis points and 26 basis points respectively. While there is some anticipation of decay in certain consumer-based lending products due to a broad economic downturn, First Financial’s total loan portfolio has, and continues to shift away from most consumer-based lending. As such, the expected effects from such economic conditions on First Financial, relative to the industry, should be less severe. Additionally, the mix of the total loan portfolio has shifted not only in product type, but in the risk profile of the borrowers due to the improvements in both underwriting and in the resolution strategies used for problem credits. However, there always remains the possibility of an unexpected event which could result in higher credit losses.

Nonperforming asset levels remained relatively stable throughout 2007, reflective of First Financial’s strong credit management policies and practices, particularly in the current economic environment. Improvement in the commercial and installment loan categories in the second half of 2007 were offset by increases in the commercial real estate, residential real estate, and home equity loan categories. Nonaccrual loans, as a percent of total loans, for the fourth and third quarters of 2007 were 0.56 percent and 0.53 percent, respectively. First Financial’s December 31, 2007 allowance for loan and lease losses to period-end loans ratio was 1.12 percent, an increase of 2 basis points compared to December 31, 2006 and equal to the September 30, 2007 ratio. For a more detailed discussion of credit quality, please refer to the credit quality section that follows.

2008 Outlook

Based upon the overall economic outlook for 2008, management anticipates low single digit growth in both loans and deposits. Net interest margin compression will continue as our assets reprice downward at a faster pace and with greater magnitude than our liabilities with a larger near-term impact and slow return to pre-rate-cut levels in 2009. Expected net charge-off levels are between 30 and 40 basis points of average loans. Management does expect modest noninterest income growth and little to no growth in noninterest expense. A material change in economic conditions would have an impact on our expected 2008 performance.

Current Period Operating Results Detail

NET INTEREST INCOME

Full Year 2007 vs. Full Year 2006

Net interest income for the full year 2007 was $118.5 million compared to $125.1 million for the full year 2006, a decrease of $6.6 million or 5.3 percent. This decrease is primarily due to a 3.6 percent net decline in the level of

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average 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.

Fourth Quarter 2007 vs. Fourth Quarter 2006

Net interest income in the fourth quarter 2007 was $29.1 million compared to $30.1 million in the fourth quarter 2006, a decrease of $1.0 million or 3.4 percent. This decrease is primarily due to a slight reduction in the yield on earning assets, as well as increased average deposit balances and interest rates paid on those deposits.

Fourth Quarter 2007 vs. Third Quarter 2007

Net interest income on a linked-quarter basis remained relatively flat, decreasing from $29.4 million in the third quarter 2007 to $29.1 million in the fourth quarter 2007, a $0.3 million or 4.6 percent annualized decrease. The slight decline in net interest income is primarily a result of recent actions by the Federal Reserve to lower targeted interest rates and the resulting impact from our modest asset sensitivity.

NET INTEREST MARGIN

Full Year 2007 vs. Full Year 2006

Full year net interest margin was 3.94 percent in 2007 compared to 4.01 percent in 2006, a decline of 7 basis points primarily due to an increase in deposit costs. On a tax-equivalent full year basis, net interest margin was 4.01 percent in 2007 as compared to 4.09 percent in 2006.

Fourth Quarter 2007 vs. Fourth Quarter 2006

Fourth quarter 2007 net interest margin of 3.79 percent decreased 16 basis points from 3.95 percent for the fourth quarter 2006 primarily due to an increase in deposit costs on a higher level of average interest-bearing deposits. On a tax equivalent basis, the fourth quarter 2007 net interest margin of 3.86 percent decreased 19 basis points from 4.05 percent for the fourth quarter 2006.

Fourth Quarter 2007 vs. Third Quarter 2007

Linked-quarter net interest margin decreased 9 basis points from 3.88 percent to 3.79 percent. The net interest margin was positively impacted by the continuing shift from lower yielding indirect installment and residential real estate loans to higher yielding commercial and commercial real estate loans, offset by the impact of recent actions by the Federal Reserve to lower targeted interest rates. On a tax-equivalent basis, the fourth quarter 2007 net interest margin was 3.86 percent as compared to 3.95 percent for the third quarter 2007.

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

BALANCE SHEET TRENDS

Loans

The change in period-end commercial, commercial real estate, and construction loans are summarized below (in thousands):

														Annualized				% Change
														% Change				Comparable
Period-end balances:		12/31/07				9/30/07				12/31/06				Linked Qtr.				Qtr.
Commercial		$	785,143			$	774,059			$	673,445				5.7	%			16.6	%
Real estate — commercial			706,409				684,931				623,603				12.5	%			13.3	%
Real estate — construction			151,432				155,495				101,688				(10.5	)%			48.9	%
Total		$	1,642,984			$	1,614,485			$	1,398,736				7.1	%			17.5	%

During late 2005 and early 2006, management made a number of decisions to realign its balance sheet and change its lending focus. These decisions included exiting indirect installment lending, no longer holding its residential real estate loan originations on the balance sheet, and utilizing the sale of loans to strategically manage the company’s asset mix, risk profile, and credit quality. This has resulted in the cumulative reduction in loan balances as follows (in thousands):

Indirect installment loan runoff		$	196,898
Residential real estate loan runoff			174,304
Strategic loan sales			260,423
Total		$	631,625

Full Year 2007 vs. Full Year 2006

Full year 2007 average total loans remained relatively flat in comparison to 2006, decreasing $19.8 million or less than 1.0 percent; however, average commercial, commercial real estate, and construction loans increased $185.9 million or 13.8 percent from 2006.

Fourth Quarter 2007 vs. Fourth Quarter 2006

Average total loans for the fourth quarter 2007 increased $88.0 million or 3.5 percent from the comparable period a year ago. Period-end commercial, commercial real estate, and construction loans increased $244.2 million or 17.5 percent from the fourth quarter 2006.

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Fourth Quarter 2007 vs. Third Quarter 2007

Average total loans for the fourth quarter 2007 increased $11.2 million or 1.7 percent on an annualized basis from the third quarter 2007; and average commercial, commercial real estate, and construction loans increased $36.3 million or 9.1 percent on an annualized basis from the third quarter 2007. Period-end commercial, commercial real estate, and construction loans increased $28.5 million or 7.1 percent on an annualized basis from the third quarter 2007.

Investments

Securities available-for-sale were $306.9 million at December 31, 2007, compared to $324.3 million at December 31, 2006, and $307.9 million at September 30, 2007. The combined investment portfolio was 10.3 percent and 11.1 percent of total assets at December 31, 2007, and 2006, respectively, and 10.4 percent of total assets at September 30, 2007. At December 31, 2007, First Financial held approximately 44 percent of its available-for-sale securities in pass-through residential real estate instruments. Among other factors, several of the portfolio criteria have been to avoid securities backed by sub-prime assets and also those containing assets that would give rise to material geographic concentrations.

Deposits

Full Year 2007 vs. Full Year 2006

Full year 2007 average total deposits decreased $48.2 million or 1.7 percent from 2006. Excluding the $74.6 million of average deposit balances included with the branch sales in the third quarter 2006, full year 2007 average deposits increased $26.4 million from 2006.

Fourth Quarter 2007 vs. Fourth Quarter 2006

Average deposits for the fourth quarter 2007 increased $50.7 million or 1.8 percent from the comparable period a year ago. Average total interest-bearing deposits for the fourth quarter 2007 increased $69.4 million or 2.9 percent, and average noninterest-bearing deposits decreased $18.7 million or 4.5 percent, both from the fourth quarter 2006.

Fourth Quarter 2007 vs. Third Quarter 2007

Average deposits for the fourth quarter 2007 increased $24.3 million or 3.4 percent on an annualized basis from the third quarter 2007. Average total interest-bearing deposits increased $10.6 million or 1.7 percent, and average noninterest-bearing deposits increased $13.7 million or 14.2 percent, both on an annualized basis from the third quarter 2007. Period-end noninterest-bearing deposits increased $76.7 million from the third quarter 2007 with approximately $60 million of the variance primarily due to the seasonal deposit activity of large commercial clients. These seasonal fluctuations are generally temporary in nature.

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NONINTEREST INCOME

Full Year 2007 vs. Full Year 2006

Full year noninterest income was $63.6 million in 2007 compared to $68.0 million in 2006, a $4.4 million or 6.5 percent decrease. The full year 2007 included a $5.5 million fourth quarter gain on the sale of the merchant payment processing portfolio, $0.4 million in gains on the sale of investment securities during the third quarter, and a $1.1 million first quarter gain on the sale of mortgage servicing rights. The full year 2006 included third quarter gains of $12.5 million on the sales of branches, $2.2 million on the sales of problem loans, and a first quarter $0.5 million loss from the sales of investment securities. Excluding these items, full year 2007 noninterest income increased $2.8 million or 5.5 percent from 2006. This remaining increase was primarily due to higher trust and wealth management fees and bankcard income.

Fourth Quarter 2007 vs. Fourth Quarter 2006

Fourth quarter 2007 noninterest income was $20.3 million, an increase of $7.4 million or 57.0 percent from the fourth quarter 2006. Excluding the fourth quarter 2007 gain on the sale of the merchant payment processing portfolio, fourth quarter 2007 noninterest income increased $1.9 million or 14.4 percent from the comparable period in 2006. This increase was primarily due to higher trust and wealth management fees as well as increased earnings from bank-owned life insurance, offset by lower service charge income on deposit accounts.

Fourth Quarter 2007 vs. Third Quarter 2007

On a linked-quarter basis, excluding the fourth quarter 2007 gain on the sale of the merchant payment processing portfolio and the third quarter 2007 gain on sale of investment securities, total noninterest income increased $0.7 million or 19.3 percent on an annualized basis.

NONINTEREST EXPENSE

Full Year 2007 vs. Full Year 2006

Full year noninterest expense was $120.7 million in 2007 compared to $152.5 million in 2006, a $31.8 million or 20.8 percent decrease. Significant items that impacted the level of noninterest expense for both years are shown below, by quarter:

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		Full Year				Full Year
		2007				2006				$ Change				% Change
Total noninterest expense		$	120,747			$	152,515			$	(31,768	)			(20.8	)%
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				—
Q3 items:
Technology contract early termination costs			—				(500	)			500				—
Gain (loss) on properties and fixed assets			406				(511	)			917				—
Severance			(521	)			(696	)			175				—
Q3 items subtotal			(115	)			(1,707	)			1,592				—
Q4 items:
Pension settlement charges			(2,222	)			(2,969	)			747				—
Technology contract early termination costs			—				(408	)			408				—
Gain (loss) on properties and fixed assets			227				(985	)			1,212				—
Severance			(38	)			(798	)			760				—
Visa member litigation charges			(461	)			—				(461	)			—
Q4 items subtotal			(2,494	)			(5,160	)			2,666				—
Adjusted total noninterest expense		$	117,019			$	137,033			$	(20,014	)			(14.6	)%

The following items contributed to the adjusted $20.0 million decrease in noninterest expense from the full year 2006:

	•		decreases in salaries and employee benefits of $9.0 million primarily due to the $5.3 million reduction in salaries and other performance and incentive-based compensation as a result of an overall reduction in staffing levels and the $3.2 million reduction in pension and other retirement-related expenses
	•		decreases in data processing of $4.5 million primarily due to the impact of First Financial’s prior year technology upgrade in which the company moved from an out-sourced to an in-house data processing environment
	•		decreases in professional services of $3.7 million primarily due to 2006 costs associated with the corporate reorganization, branding initiative, branch staffing, and recruiting fees, combined with an overall reduction in consultant usage

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Fourth Quarter 2007 vs. Fourth Quarter 2006

Total noninterest expense decreased $6.4 million or 16.9 percent during the fourth quarter 2007 as compared to the fourth quarter 2006, in addition to the items listed in the table above, primarily due to the following:

	•		decreases in salaries and employee benefits of $1.8 million primarily due to the $1.0 million reduction in pension and other retirement-related expenses
	•		decreases in data processing of $0.3 million primarily due to the positive 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 marketing of $0.5 million primarily due to the costs associated with the branding initiative in the prior year
	•		decreases in professional services of $1.0 million primarily due to 2006 costs associated with the branding initiative, branch staffing, and recruiting fees, combined with an overall reduction in outside consulting usage
	•		decreases totalling $0.6 million in other individually immaterial, noninterest expense categories, primarily due to the company’s heightened focus on expense control.

Fourth Quarter 2007 vs. Third Quarter 2007

On a linked-quarter basis, noninterest expense increased $2.6 million or 9.2 percent from the third quarter 2007. The increase in noninterest expense was primarily due to the previously mentioned fourth quarter 2007 pension settlement charge.

INCOME TAXES

Income tax expense was $18.0 million and $9.4 million for the full years 2007 and 2006, respectively. The effective tax rates for the full years 2007 and 2006 were 33.5 percent and 30.8 percent, respectively. Income tax expense was $5.6 million for the fourth quarter 2007 with an effective tax rate of 34.5 percent. The fourth quarter 2006 included an income tax benefit of $1.4 million.

CREDIT QUALITY

First Financial’s December 31, 2007 allowance for loan and lease losses to period-end loans ratio was 1.12 percent, 2 basis points higher when compared to December 31, 2006 and equal to September 30, 2007. Full year 2007 net charge-offs of 24 basis points of average loans were significantly improved from the full year 2006 net charge-offs of 48 basis points of average loans, excluding the impact of the transfer of approximately $53 million of loans to loans held for sale. A large percentage of underperforming assets is secured by real estate, and this collateral has been appropriately considered in establishing the allowance for loan and lease losses at December 31, 2007.

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In the second quarter 2005, First Financial made the strategic decision to discontinue the origination of residential real estate loans for retention on its balance sheet. As a result, the residential real estate portfolio has declined $174.3 million, excluding the impact of the loan sales, since that time. Earlier in 2007, First Financial sold the servicing of its remaining residential real estate portfolio and established an agreement to sell future originations to a strategic partner. Prior to this decision, First Financial was not a sub-prime lender, and the company does not originate sub-prime residential real estate loans in the current originate-and-sell model.

At December 31, 2007, the commercial real estate and real estate construction loan portfolio totaled $857.8 million, or 33.0 percent of total loans, including $91.9 million or 3.5 percent of total loans for commercial real estate construction, and $46.6 million or 1.8 percent of total loans, for residential construction and land acquisition and development. First Financial’s internal lending policies are key to limiting credit exposure from both the residential construction and land acquisition and development segments in any particular project. Most of the residential construction and land acquisition and development loans are in areas of relatively strong housing demand or with borrowers who have undergone an extensive underwriting process.

First Financial continually evaluates the commercial real estate and real estate construction portfolio for geographic and borrower concentrations, as well as loan-to-value coverage, and believes its credit underwriting processes are producing a prudent and acceptable level of credit exposure.

It is management’s belief that the $29.1 million allowance for loan and lease losses is adequate to absorb probable credit losses inherent in the portfolio.

Full Year 2007 vs. Full Year 2006

Full year net charge-offs were $6.0 million, an annualized 24 basis points of average loans, compared to full year 2006 net charge-offs of $12.2 million, or 48 basis points of average loans excluding the full year 2006 impact of the transfer of approximately $53 million of loans to loans held for sale. Full year 2006 net charge-offs were 97 basis points of average loans including the impact of the previously mentioned transfer of loans to loans held for sale.

Total underperforming assets at the end of the fourth quarter 2007 were $17.6 million, an increase of $4.3 million from the end of the fourth quarter 2006 primarily due to higher commercial real estate, residential real estate, and home equity loans on nonaccrual status. As a result, the ratio of nonperforming assets to ending loans, plus other real estate owned, increased from 53 basis points at the end of the fourth quarter 2006 to 67 basis points at the end of the fourth quarter 2007, and the ratio of nonperforming loans to total loans increased from 44 basis points at the end of the fourth quarter 2006 to 56 basis points at the end of the fourth quarter 2007.

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Fourth Quarter 2007 vs. Fourth Quarter 2006

Fourth quarter 2007 net charge-offs were $1.7 million, an annualized 26 basis points of average loans, compared to fourth quarter 2006 net charge-offs of $5.9 million, an annualized 95 basis points of average loans excluding the impact of the transfer of approximately $15 million of loans to loans held for sale. The fourth quarter 2006 net charge-offs to average loans ratio was 1.64 percent including the impact of the previously mentioned transfer of loans to loans held for sale.

Fourth Quarter 2007 vs. Third Quarter 2007

Fourth quarter 2007 net charge-offs were $1.7 million, an annualized 26 basis points of average loans, compared to third quarter 2007 net charge-offs of $1.5 million, an annualized 23 basis points of average loans. Total underperforming assets at the end of the fourth quarter 2007 were $17.6 million, an increase of $0.6 million from the end of the third quarter 2007. The ratio of nonperforming assets to ending loans, plus other real estate owned, increased 2 basis points to 67 basis points at the end of the fourth quarter 2007.

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 January 30, 2008, First Financial will host an earnings conference call that will be webcast live at 9:00 a.m. EST. The presenters will be Claude E. Davis, president and chief executive officer, and J. Franklin Hall, executive vice president and chief financial officer. Anyone may participate in the conference call by calling 1-800-860-2442 (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 First Financial’s investor relations website at www.bankatfirst.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in our annual report on Form 10-K for the year ended December 31, 2007, which will be filed with the SEC by February 29, 2008.

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FIRST FINANCIAL BANCORP.
CONSOLIDATED FINANCIAL HIGHLIGHTS

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

		Three months ended,																				Twelve months ended
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,				Dec. 31,
		2007				2007				2007				2007				2006				2007				2006
RESULTS OF OPERATIONS
Net interest income		$	29,079			$	29,417			$	29,601			$	30,403			$	30,104			$	118,500			$	125,073
Net income		$	10,701			$	8,373			$	8,172			$	8,435			$	827			$	35,681			$	21,271
Net earnings per common share — basic		$	0.29			$	0.22			$	0.21			$	0.22			$	0.02			$	0.93			$	0.54
Net earnings per common share — diluted		$	0.29			$	0.22			$	0.21			$	0.22			$	0.02			$	0.93			$	0.54
Dividends declared per common share		$	0.17			$	0.16			$	0.16			$	0.16			$	0.16			$	0.65			$	0.64
KEY FINANCIAL RATIOS
Return on average assets			1.27	%			1.00	%			1.00	%			1.04	%			0.10	%			1.08	%			0.62	%
Return on average shareholders’ equity			15.37	%			12.03	%			11.61	%			11.94	%			1.10	%			12.73	%			7.13	%
Return on average tangible shareholders’ equity			17.17	%			13.44	%			12.95	%			13.31	%			1.24	%			14.20	%			8.05	%
Net interest margin			3.79	%			3.88	%			3.97	%			4.12	%			3.95	%			3.94	%			4.01	%
Net interest margin (fully tax equivalent) (1)			3.86	%			3.95	%			4.05	%			4.20	%			4.05	%			4.01	%			4.09	%
Average shareholders’ equity to average assets			8.27	%			8.34	%			8.58	%			8.68	%			8.98	%			8.47	%			8.69	%
Tier 1 Ratio (2)			10.29	%			10.18	%			11.13	%			11.57	%			11.73	%			10.29	%			11.73	%
Total Capital Ratio (2)			11.38	%			11.27	%			12.18	%			12.64	%			12.81	%			11.38	%			12.81	%
Leverage Ratio (2)			8.26	%			8.21	%			9.04	%			9.08	%			9.02	%			8.33	%			8.76	%
AVERAGE BALANCE SHEET ITEMS
Loans (3)		$	2,588,985			$	2,576,308			$	2,530,638			$	2,490,252			$	2,497,389			$	2,546,898			$	2,571,935
Investment securities			350,346				349,686				364,050				367,407				381,985				357,803				407,116
Other earning assets			106,922				81,669				93,986				134,635				142,320				104,165				141,347
Total earning assets		$	3,046,253			$	3,007,663			$	2,988,674			$	2,992,294			$	3,021,694			$	3,008,866			$	3,120,398
Total assets		$	3,338,828			$	3,309,800			$	3,291,756			$	3,299,346			$	3,332,388			$	3,310,040			$	3,432,661
Noninterest-bearing deposits		$	399,304			$	385,653			$	405,179			$	401,698			$	418,009			$	397,918			$	415,211
Interest-bearing deposits			2,461,464				2,450,830				2,403,919				2,406,913				2,392,092				2,430,986				2,461,914
Total deposits		$	2,860,768			$	2,836,483			$	2,809,098			$	2,808,611			$	2,810,101			$	2,828,904			$	2,877,125
Borrowings		$	177,876			$	176,528			$	177,472			$	181,613			$	192,811			$	178,357			$	227,146
Shareholders’ equity		$	276,269			$	276,183			$	282,354			$	286,453			$	299,320			$	280,275			$	298,227
CREDIT QUALITY RATIOS
Allowance to ending loans			1.12	%			1.12	%			1.10	%			1.10	%			1.10	%			1.12	%			1.10	%
Allowance to nonaccrual loans			205.89	%			221.70	%			194.92	%			254.59	%			267.55	%			205.89	%			267.55	%
Allowance to nonperforming loans			197.94	%			212.42	%			187.35	%			241.41	%			252.82	%			197.94	%			252.82	%
Nonperforming loans to total loans			0.56	%			0.53	%			0.59	%			0.45	%			0.44	%			0.56	%			0.44	%
Nonperforming assets to ending loans, plus OREO			0.67	%			0.65	%			0.67	%			0.56	%			0.53	%			0.67	%			0.53	%
Nonperforming assets to total assets			0.51	%			0.51	%			0.52	%			0.42	%			0.40	%			0.51	%			0.40	%
Net charge-offs to average loans (annualized) (4)			0.26	%			0.23	%			0.23	%			0.22	%			1.64	%			0.24	%			0.97	%

(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)		December 31, 2007 regulatory capital ratios are preliminary.
(3)		Includes loans held for sale.
(4)		December 31, 2006 and the full year 2006 charge-offs include $4,375 and $12,731, 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,												Twelve months ended,
		Dec. 31,												Dec. 31,
		2007				2006				% Change				2007				2006				% Change
Interest income
Loans, including fees		$	45,709			$	44,972				1.6	%		$	182,670			$	177,699				2.8	%
Investment securities
Taxable			3,641				3,925				(7.2	%)			14,961				16,592				(9.8	%)
Tax-exempt			859				985				(12.8	%)			3,542				4,142				(14.5	%)
Total investment securities interest			4,500				4,910				(8.4	%)			18,503				20,734				(10.8	%)
Federal funds sold			1,224				1,894				(35.4	%)			5,269				7,092				(25.7	%)
Total interest income			51,433				51,776				(0.7	%)			206,442				205,525				0.4	%
Interest expense
Deposits			20,238				19,349				4.6	%			79,184				70,012				13.1	%
Short-term borrowings			1,211				1,027				17.9	%			4,232				3,768				12.3	%
Long-term borrowings			466				609				(23.5	%)			2,099				4,062				(48.3	%)
Subordinated debentures and capital securities			439				687				(36.1	%)			2,427				2,610				(7.0	%)
Total interest expense			22,354				21,672				3.1	%			87,942				80,452				9.3	%
Net interest income			29,079				30,104				(3.4	%)			118,500				125,073				(5.3	%)
Provision for loan and lease losses			1,640				5,822				(71.8	%)			7,652				9,822				(22.1	%)
Net interest income after provision for loan and lease losses			27,439				24,282				13.0	%			110,848				115,251				(3.8	%)
Noninterest income
Service charges on deposit accounts			5,330				5,766				(7.6	%)			20,766				21,958				(5.4	%)
Trust and wealth management fees			4,989				3,987				25.1	%			18,396				16,264				13.1	%
Bankcard income			1,165				1,126				3.5	%			5,251				4,437				18.3	%
Net gains from sales of loans			295				234				26.1	%			844				3,206				(73.7	%)
Gain on sale of merchant payment processing portfolio			5,501				0				N/M				5,501				0				N/M
Gain on sale of mortgage servicing rights			0				0				N/M				1,061				0				N/M
Gains on sales of branches			0				0				N/M				0				12,545				N/M
Gains (losses) on sales of investment securities			0				0				N/M				367				(476	)			177.1	%
Other			2,982				1,791				66.5	%			11,402				10,050				13.5	%
Total noninterest income			20,262				12,904				57.0	%			63,588				67,984				(6.5	%)
Noninterest expenses
Salaries and employee benefits			16,508				18,265				(9.6	%)			69,891				81,560				(14.3	%)
Pension settlement charges			2,222				2,969				(25.2	%)			2,222				2,969				(25.2	%)
Net occupancy			2,842				2,699				5.3	%			10,861				11,038				(1.6	%)
Furniture and equipment			1,742				1,496				16.4	%			6,761				5,607				20.6	%
Data processing			825				1,574				(47.6	%)			3,498				9,969				(64.9	%)
Marketing			523				1,022				(48.8	%)			2,441				3,490				(30.1	%)
Communication			903				1,204				(25.0	%)			3,230				3,334				(3.1	%)
Professional services			1,109				2,074				(46.5	%)			4,142				7,835				(47.1	%)
Debt extinguishment			0				0				N/M				0				4,295				N/M
Other			4,698				6,466				(27.3	%)			17,701				22,418				(21.0	%)
Total noninterest expenses			31,372				37,769				(16.9	%)			120,747				152,515				(20.8	%)
Income (loss) before income taxes			16,329				(583	)			N/M				53,689				30,720				74.8	%
Income tax expense (benefit)			5,628				(1,410	)			N/M				18,008				9,449				90.6	%
Net income		$	10,701			$	827				N/M			$	35,681			$	21,271				67.7	%
ADDITIONAL DATA
Net earnings per common share — basic		$	0.29			$	0.02							$	0.93			$	0.54
Net earnings per common share — diluted		$	0.29			$	0.02							$	0.93			$	0.54
Dividends declared per common share		$	0.17			$	0.16							$	0.65			$	0.64
Book value per common share		$	7.40			$	7.27							$	7.40			$	7.27
Return on average assets			1.27	%			0.10	%							1.08	%			0.62	%
Return on average shareholders’ equity			15.37	%			1.10	%							12.73	%			7.13	%
Interest income		$	51,433			$	51,776				(0.7	%)		$	206,442			$	205,525				0.4	%
Tax equivalent adjustment			561				712				(21.2	%)			2,281				2,655				(14.1	%)
Interest income — tax equivalent			51,994				52,488				(0.9	%)			208,723				208,180				0.3	%
Interest expense			22,354				21,672				3.1	%			87,942				80,452				9.3	%
Net interest income — tax equivalent		$	29,640			$	30,816				(3.8	%)		$	120,781			$	127,728				(5.4	%)
Net interest margin			3.79	%			3.95	%							3.94	%			4.01	%
Net interest margin (fully tax equivalent) (1)			3.86	%			4.05	%							4.01	%			4.09	%
Full-time equivalent employees			1,057				1,214								1,057				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 QUARTERLY STATEMENTS OF INCOME

(Dollars in thousands)
(Unaudited)

		2007
		Fourth				Third				Second				First				Full				% Change
		Quarter				Quarter				Quarter				Quarter				Year				Linked Qtr.
Interest income
Loans, including fees		$	45,709			$	46,606			$	45,291			$	45,064			$	182,670				(1.9	%)
Investment securities
Taxable			3,641				3,667				3,762				3,891				14,961				(0.7	%)
Tax-exempt			859				863				911				909				3,542				(0.5	%)
Total investment securities interest			4,500				4,530				4,673				4,800				18,503				(0.7	%)
Federal funds sold			1,224				1,048				1,241				1,756				5,269				16.8	%
Total interest income			51,433				52,184				51,205				51,620				206,442				(1.4	%)
Interest expense
Deposits			20,238				20,528				19,409				19,009				79,184				(1.4	%)
Short-term borrowings			1,211				1,041				984				996				4,232				16.3	%
Long-term borrowings			466				532				542				559				2,099				(12.4	%)
Subordinated debentures and capital securities			439				666				669				653				2,427				(34.1	%)
Total interest expense			22,354				22,767				21,604				21,217				87,942				(1.8	%)
Net interest income			29,079				29,417				29,601				30,403				118,500				(1.1	%)
Provision for loan and lease losses			1,640				2,558				2,098				1,356				7,652				(35.9	%)
Net interest income after provision for loan and lease losses			27,439				26,859				27,503				29,047				110,848				2.2	%
Noninterest income
Service charges on deposit accounts			5,330				5,396				5,296				4,744				20,766				(1.2	%)
Trust and wealth management fees			4,989				4,721				4,526				4,160				18,396				5.7	%
Bankcard income			1,165				1,422				1,424				1,240				5,251				(18.1	%)
Net gains from sales of loans			295				203				184				162				844				45.3	%
Gain on sale of merchant payment processing portfolio			5,501				0				0				0				5,501				N/M
Gain on sale of mortgage servicing rights			0				0				0				1,061				1,061				N/M
Gains on sales of investment securities			0				367				0				0				367				N/M
Other			2,982				2,341				2,702				3,377				11,402				27.4	%
Total noninterest income			20,262				14,450				14,132				14,744				63,588				40.2	%
Noninterest expenses
Salaries and employee benefits			16,508				17,288				17,134				18,961				69,891				(4.5	%)
Pension settlement charges			2,222				0				0				0				2,222				N/M
Net occupancy			2,842				2,728				2,484				2,807				10,861				4.2	%
Furniture and equipment			1,742				1,684				1,708				1,627				6,761				3.4	%
Data processing			825				1,010				818				845				3,498				(18.3	%)
Marketing			523				407				642				869				2,441				28.5	%
Communication			903				664				798				865				3,230				36.0	%
Professional services			1,109				964				1,063				1,006				4,142				15.0	%
Other			4,698				3,980				4,793				4,230				17,701				18.0	%
Total noninterest expenses			31,372				28,725				29,440				31,210				120,747				9.2	%
Income before income taxes			16,329				12,584				12,195				12,581				53,689				29.8	%
Income tax expense			5,628				4,211				4,023				4,146				18,008				33.6	%
Net income		$	10,701			$	8,373			$	8,172			$	8,435			$	35,681				27.8	%
ADDITIONAL DATA
Net earnings per common share — basic		$	0.29			$	0.22			$	0.21			$	0.22			$	0.93
Net earnings per common share — diluted		$	0.29			$	0.22			$	0.21			$	0.22			$	0.93
Dividends declared per common share		$	0.17			$	0.16			$	0.16			$	0.16			$	0.65
Book value per common share		$	7.40			$	7.26			$	7.18			$	7.29			$	7.40
Return on average assets			1.27	%			1.00	%			1.00	%			1.04	%			1.08	%
Return on average shareholders’ equity			15.37	%			12.03	%			11.61	%			11.94	%			12.73	%
Interest income		$	51,433			$	52,184			$	51,205			$	51,620			$	206,442				(1.4	%)
Tax equivalent adjustment			561				564				580				576				2,281				(0.5	%)
Interest income — tax equivalent			51,994				52,748				51,785				52,196				208,723				(1.4	%)
Interest expense			22,354				22,767				21,604				21,217				87,942				(1.8	%)
Net interest income — tax equivalent		$	29,640			$	29,981			$	30,181			$	30,979			$	120,781				(1.1	%)
Net interest margin			3.79	%			3.88	%			3.97	%			4.12	%			3.94	%
Net interest margin (fully tax equivalent) (1)			3.86	%			3.95	%			4.05	%			4.20	%			4.01	%
Full-time equivalent employees			1,057				1,078				1,158				1,166				1,057

(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			18,265				19,968				23,110				20,217				81,560
Pension settlement charges			2,969				0				0				0				2,969
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
(Loss) income before income taxes			(583	)			19,030				6,732				5,541				30,720
Income tax (benefit) expense			(1,410	)			6,911				2,374				1,574				9,449
Net income		$	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)

		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,				% Change				% Change
		2007				2007				2007				2007				2006				Linked Qtr.				Comparable Qtr.
ASSETS
Cash and due from banks		$	106,224			$	92,414			$	87,808			$	87,969			$	119,407				14.9	%			(11.0	%)
Federal funds sold			106,990				71,700				55,000				159,200				102,000				49.2	%			4.9	%
Investment securities held-to-maturity			5,639				5,467				5,711				7,769				7,995				3.1	%			(29.5	%)
Investment securities available-for-sale			306,928				307,908				313,575				325,755				324,259				(0.3	%)			(5.3	%)
Other investments			33,969				33,969				33,969				33,969				33,969				0.0	%			0.0	%
Loans held for sale			1,515				5,763				0				0				8,824				(73.7	%)			(82.8	%)
Loans
Commercial			785,143				774,059				747,292				709,341				673,445				1.4	%			16.6	%
Real estate — construction			151,432				155,495				125,732				107,867				101,688				(2.6	%)			48.9	%
Real estate — commercial			706,409				684,931				676,679				647,126				623,603				3.1	%			13.3	%
Real estate — residential			539,332				556,255				580,005				604,213				628,579				(3.0	%)			(14.2	%)
Installment			138,895				149,881				162,506				180,116				198,881				(7.3	%)			(30.2	%)
Home equity			250,888				245,853				235,734				228,660				228,128				2.0	%			10.0	%
Credit card			26,610				24,904				24,488				23,678				24,587				6.9	%			8.2	%
Lease financing			378				500				608				732				923				(24.4	%)			(59.0	%)
Total loans			2,599,087				2,591,878				2,553,044				2,501,733				2,479,834				0.3	%			4.8	%
Less
Allowance for loan and lease losses			29,057				29,136				28,060				27,407				27,386				(0.3	%)			6.1	%
Net loans			2,570,030				2,562,742				2,524,984				2,474,326				2,452,448				0.3	%			4.8	%
Premises and equipment			78,994				78,214				79,079				79,553				79,609				1.0	%			(0.8	%)
Goodwill			28,261				28,261				28,261				28,261				28,261				0.0	%			0.0	%
Other intangibles			698				828				1,003				1,195				5,842				(15.7	%)			(88.1	%)
Accrued interest and other assets			130,068				141,890				143,277				129,991				138,985				(8.3	%)			(6.4	%)
Total Assets		$	3,369,316			$	3,329,156			$	3,272,667			$	3,327,988			$	3,301,599				1.2	%			2.1	%
LIABILITIES
Deposits
Interest-bearing		$	603,870			$	611,764			$	594,788			$	627,996			$	667,305				(1.3	%)			(9.5	%)
Savings			596,636				595,664				588,229				564,340				526,663				0.2	%			13.3	%
Time			1,227,954				1,253,383				1,211,182				1,218,823				1,179,852				(2.0	%)			4.1	%
Total interest-bearing deposits			2,428,460				2,460,811				2,394,199				2,411,159				2,373,820				(1.3	%)			2.3	%
Noninterest-bearing			465,731				389,070				399,260				420,521				424,138				19.7	%			9.8	%
Total deposits			2,894,191				2,849,881				2,793,459				2,831,680				2,797,958				1.6	%			3.4	%
Short-term borrowings
Federal funds purchased and securities sold
under agreements to repurchase			26,289				26,749				31,700				39,998				57,201				(1.7	%)			(54.0	%)
Other			72,000				74,500				52,500				52,246				39,500				(3.4	%)			82.3	%
Total short-term borrowings			98,289				101,249				84,200				92,244				96,701				(2.9	%)			1.6	%
Federal Home Loan Bank long-term debt			45,896				55,317				59,021				60,298				63,762				(17.0	%)			(28.0	%)
Other long-term debt			20,620				20,620				30,930				30,930				30,930				0.0	%			(33.3	%)
Accrued interest and other liabilities			33,737				30,386				25,831				28,481				26,769				11.0	%			26.0	%
Total Liabilities			3,092,733				3,057,453				2,993,441				3,043,633				3,016,120				1.2	%			2.5	%
SHAREHOLDERS’ EQUITY
Common stock			391,962				391,355				390,545				393,091				392,736				0.2	%			(0.2	%)
Retained earnings			82,093				77,745				75,444				73,505				71,320				5.6	%			15.1	%
Accumulated other comprehensive loss			(7,127	)			(7,569	)			(16,168	)			(13,121	)			(13,375	)			(5.8	%)			(46.7	%)
Treasury stock, at cost			(190,345	)			(189,828	)			(170,595	)			(169,120	)			(165,202	)			0.3	%			15.2	%
Total Shareholders’ Equity			276,583				271,703				279,226				284,355				285,479				1.8	%			(3.1	%)
Total Liabilities and Shareholders’ Equity		$	3,369,316			$	3,329,156			$	3,272,667			$	3,327,988			$	3,301,599				1.2	%			2.1	%

N/M = Not meaningful.

FIRST FINANCIAL BANCORP.
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)
(Unaudited)

								Quarterly Averages														Full Year Averages
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,				Dec. 31,
		2007				2007				2007				2007				2006				2007				2006
ASSETS
Cash and due from banks		$	84,771			$	85,576			$	94,541			$	94,384			$	106,010			$	89,780			$	113,553
Federal funds sold			106,922				81,669				93,986				134,635				142,320				104,165				141,347
Investment securities			350,346				349,686				364,050				367,407				381,985				357,803				407,116
Loans held for sale			3,689				2,245				162				6,793				96				3,211				8,491
Loans
Commercial			776,286				766,028				733,936				685,585				664,476				739,238				628,879
Real estate — construction			154,208				139,291				118,425				100,192				96,280				128,208				89,992
Real estate — commercial			693,038				681,920				657,959				637,642				623,632				669,370				632,086
Real estate — residential			542,204				566,618				592,811				616,892				649,638				579,391				716,042
Installment			145,787				155,478				170,748				189,397				209,053				165,206				248,187
Home equity			248,071				239,585				231,982				229,112				229,900				237,246				224,315
Credit card			25,271				24,586				23,944				23,809				23,247				24,407				22,443
Lease financing			431				557				671				830				1,067				621				1,500
Total loans			2,585,296				2,574,063				2,530,476				2,483,459				2,497,293				2,543,687				2,563,444
Less
Allowance for loan and lease losses			29,503				28,278				27,482				27,770				30,894				28,263				35,959
Net loans			2,555,793				2,545,785				2,502,994				2,455,689				2,466,399				2,515,424				2,527,485
Premises and equipment			78,992				79,102				79,491				79,819				79,123				79,348				76,927
Goodwill			28,261				28,261				28,261				28,261				28,263				28,261				28,230
Other intangibles			749				915				1,096				5,464				6,261				2,040				6,970
Accrued interest and other assets			129,305				136,561				127,175				126,894				121,931				130,008				122,542
Total Assets		$	3,338,828			$	3,309,800			$	3,291,756			$	3,299,346			$	3,332,388			$	3,310,040			$	3,432,661
LIABILITIES
Deposits
Interest-bearing		$	607,009			$	632,890			$	606,320			$	646,548			$	669,076			$	623,110			$	705,435
Savings			604,063				586,065				578,357				545,101				526,550				578,579				530,274
Time			1,250,392				1,231,875				1,219,242				1,215,264				1,196,466				1,229,297				1,226,205
Total interest-bearing deposits			2,461,464				2,450,830				2,403,919				2,406,913				2,392,092				2,430,986				2,461,914
Noninterest-bearing			399,304				385,653				405,179				401,698				418,009				397,918				415,211
Total deposits			2,860,768				2,836,483				2,809,098				2,808,611				2,810,101				2,828,904				2,877,125
Short-term borrowings
Federal funds purchased and securities sold under agreements to repurchase			28,952				29,385				34,280				46,397				59,196				34,691				53,599
Other			77,772				58,914				52,849				42,136				35,648				58,018				39,707
Total short-term borrowings			106,724				88,299				87,129				88,533				94,844				92,709				93,306
Federal Home Loan Bank long-term debt			50,532				57,860				59,413				62,150				67,037				57,458				102,910
Other long-term debt			20,620				30,369				30,930				30,930				30,930				28,190				30,930
Total borrowed funds			177,876				176,528				177,472				181,613				192,811				178,357				227,146
Accrued interest and other liabilities			23,915				20,606				22,832				22,669				30,156				22,504				30,163
Total Liabilities			3,062,559				3,033,617				3,009,402				3,012,893				3,033,068				3,029,765				3,134,434
SHAREHOLDERS’ EQUITY
Common stock			391,606				390,898				391,536				392,908				392,931				391,731				392,317
Retained earnings			81,615				77,428				74,049				74,497				78,162				76,918				75,666
Accumulated other comprehensive loss			(6,670	)			(15,097	)			(13,739	)			(13,725	)			(8,768	)			(12,296	)			(9,261	)
Treasury stock, at cost			(190,282	)			(177,046	)			(169,492	)			(167,227	)			(163,005	)			(176,078	)			(160,495	)
Total Shareholders’ Equity			276,269				276,183				282,354				286,453				299,320				280,275				298,227
Total Liabilities and Shareholders’ Equity		$	3,338,828			$	3,309,800			$	3,291,756			$	3,299,346			$	3,332,388			$	3,310,040			$	3,432,661

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

(Dollars in thousands)
(Unaudited)

		Quarterly Averages																								Full Year Averages
		Dec. 31, 2007								Sep. 30, 2007								Dec. 31, 2006								Dec. 31, 2007								Dec. 31, 2006
		Balance				Yield				Balance				Yield				Balance				Yield				Balance				Yield				Balance				Yield
Earning assets
Investment securities		$	350,346				5.10	%		$	349,686				5.14	%		$	381,985				5.10	%		$	357,803				5.17	%		$	407,116				5.09	%
Federal funds sold			106,922				4.54	%			81,669				5.09	%			142,320				5.28	%			104,165				5.06	%			141,347				5.02	%
Gross loans (2)			2,588,985				7.00	%			2,576,308				7.18	%			2,497,389				7.14	%			2,546,898				7.17	%			2,571,935				6.91	%
Total earning assets			3,046,253				6.70	%			3,007,663				6.88	%			3,021,694				6.80	%			3,008,866				6.86	%			3,120,398				6.59	%
Nonearning assets
Allowance for loan and lease losses			(29,503	)							(28,278	)							(30,894	)							(28,263	)							(35,959	)
Cash and due from banks			84,771								85,576								106,010								89,780								113,553
Accrued interest and other assets			237,307								244,839								235,578								239,657								234,669
Total assets		$	3,338,828							$	3,309,800							$	3,332,388							$	3,310,040							$	3,432,661
Interest-bearing liabilities
Total interest-bearing deposits		$	2,461,464				3.26	%		$	2,450,830				3.32	%		$	2,392,092				3.21	%		$	2,430,986				3.26	%		$	2,461,914				2.84	%
Borrowed funds
Short-term borrowings			106,724				4.50	%			88,299				4.68	%			94,844				4.30	%			92,709				4.56	%			93,306				4.04	%
Federal Home Loan Bank long-term debt			50,532				3.66	%			57,860				3.65	%			67,037				3.60	%			57,458				3.65	%			102,910				3.95	%
Other long-term debt			20,620				8.45	%			30,369				8.70	%			30,930				8.81	%			28,190				8.61	%			30,930				8.44	%
Total borrowed funds			177,876				4.72	%			176,528				5.03	%			192,811				4.78	%			178,357				4.91	%			227,146				4.60	%
Total interest-bearing liabilities			2,639,340				3.36	%			2,627,358				3.44	%			2,584,903				3.33	%			2,609,343				3.37	%			2,689,060				2.99	%
Noninterest-bearing liabilities
Noninterest-bearing demand deposits			399,304								385,653								418,009								397,918								415,211
Other liabilities			23,915								20,606								30,156								22,504								30,163
Shareholders’ equity			276,269								276,183								299,320								280,275								298,227
Total liabilities & shareholders’ equity		$	3,338,828							$	3,309,800							$	3,332,388							$	3,310,040							$	3,432,661
Net interest income (1)		$	29,079							$	29,417							$	30,104							$	118,500							$	125,073
Net interest spread (1)							3.34	%							3.44	%							3.47	%							3.49	%							3.60	%
Net interest margin (1)							3.79	%							3.88	%							3.95	%							3.94	%							4.01	%

(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 ANALYSIS ⁽¹⁾

(Dollars in thousands)
(Unaudited)

		Linked Qtr. Income Variance												Comparable Qtr. Income Variance												Full Year Income Variance
		Rate				Volume				Total				Rate				Volume				Total				Rate				Volume				Total
Earning assets
Investment securities		$	(38	)		$	8			$	(30	)		$	(4	)		$	(406	)		$	(410	)		$	319			$	(2,550	)		$	(2,231	)
Federal funds sold			(113	)			289				176				(265	)			(405	)			(670	)			58				(1,881	)			(1,823	)
Gross loans (2)			(1,121	)			224				(897	)			(880	)			1,617				737				6,767				(1,796	)			4,971
Total earning assets			(1,272	)			521				(751	)			(1,149	)			806				(343	)			7,144				(6,227	)			917
Nonearning assets
Allowance for loan and lease losses
Cash and due from banks
Accrued interest and other assets
Total assets
Interest-bearing liabilities
Total interest-bearing deposits		$	(377	)		$	87			$	(290	)		$	319			$	570			$	889			$	10,179			$	(1,007	)		$	9,172
Borrowed funds
Short-term borrowings			(39	)			209				170				49				135				184				491				(27	)			464
Federal Home Loan Bank long-term debt			2				(68	)			(66	)			9				(152	)			(143	)			(303	)			(1,660	)			(1,963	)
Other long-term debt			(19	)			(208	)			(227	)			(29	)			(219	)			(248	)			53				(236	)			(183	)
Total borrowed funds			(56	)			(67	)			(123	)			29				(236	)			(207	)			241				(1,923	)			(1,682	)
Total interest-bearing liabilities			(433	)			20				(413	)			348				334				682				10,420				(2,930	)			7,490
Noninterest-bearing liabilities
Noninterest-bearing demand deposits
Other liabilities
Shareholders’ equity
Total liabilities & shareholders’ equity
Net interest income (1)		$	(839	)		$	501			$	(338	)		$	(1,497	)		$	472			$	(1,025	)		$	(3,276	)		$	(3,297	)		$	(6,573	)
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)

		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,				Full Year				Full Year
		2007				2007				2007				2007				2006				2007				2006
ALLOWANCE FOR LOAN AND LEASE LOSS ACTIVITY
Balance at beginning of period		$	29,136			$	28,060			$	27,407			$	27,386			$	31,888			$	27,386			$	42,485
Provision for loan and lease losses			1,640				2,558				2,098				1,356				5,822				7,652				9,822
Gross charge-offs
Commercial			1,433				1,008				920				746				5,675				4,107				11,950
Real estate — commercial			465				76				176				146				1,099				863				7,312
Real estate — residential			33				49				57				116				2,729				255				4,952
Installment			522				471				604				741				776				2,338				2,620
Home equity			285				189				149				139				331				762				629
All other			304				304				224				265				306				1,097				886
Total gross charge-offs (1)			3,042				2,097				2,130				2,153				10,916				9,422				28,349
Recoveries
Commercial			342				145				246				269				206				1,002				1,328
Real estate — commercial			632				124				48				58				20				862				256
Real estate — residential			3				25				10				18				4				56				222
Installment			242				263				288				346				292				1,139				1,382
Home equity			19				12				25				76				1				132				1
All other			85				46				68				51				69				250				239
Total recoveries			1,323				615				685				818				592				3,441				3,428
Total net charge-offs			1,719				1,482				1,445				1,335				10,324				5,981				24,921
Ending allowance for loan and lease losses		$	29,057			$	29,136			$	28,060			$	27,407			$	27,386			$	29,057			$	27,386
NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED) (1)
Commercial			0.56	%			0.45	%			0.37	%			0.28	%			3.27	%			0.42	%			1.69	%
Real estate — commercial			(0.10	%)			(0.03	%)			0.08	%			0.06	%			0.69	%			0.00	%			1.12	%
Real estate — residential			0.02	%			0.02	%			0.03	%			0.06	%			1.66	%			0.03	%			0.66	%
Installment			0.76	%			0.53	%			0.74	%			0.85	%			0.92	%			0.73	%			0.50	%
Home equity			0.43	%			0.29	%			0.21	%			0.11	%			0.57	%			0.27	%			0.28	%
All other			0.48	%			0.62	%			0.44	%			0.70	%			0.78	%			0.55	%			0.57	%
Total net charge-offs (1)			0.26	%			0.23	%			0.23	%			0.22	%			1.64	%			0.24	%			0.97	%
(1) December 31, 2006 and the full year 2006 charge-offs include $4,375 and $12,731, respectively, in loans held for sale write-downs to the lower of cost or estimated fair value.
COMPONENTS OF NONPERFORMING LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans
Commercial		$	2,677			$	3,782			$	6,812			$	2,529			$	2,610			$	2,677			$	2,610
Real estate — commercial			5,965				5,343				4,140				4,947				4,102				5,965				4,102
Real estate — residential			3,063				2,147				1,694				1,311				1,482				3,063				1,482
Installment			734				745				681				920				1,328				734				1,328
Home equity			1,662				1,117				1,048				1,038				698				1,662				698
All other			12				8				21				20				16				12				16
Total nonaccrual loans			14,113				13,142				14,396				10,765				10,236				14,113				10,236
Restructured loans			567				574				581				588				596				567				596
Total nonperforming loans			14,680				13,716				14,977				11,353				10,832				14,680				10,832
Other real estate owned (OREO)			2,636				3,124				2,023				2,672				2,334				2,636				2,334
Total nonperforming assets			17,316				16,840				17,000				14,025				13,166				17,316				13,166
Accruing loans past due 90 days or more			313				222				165				81				185				313				185
Total underperforming assets		$	17,629			$	17,062			$	17,165			$	14,106			$	13,351			$	17,629			$	13,351
Total classified assets		$	49,372			$	53,997			$	49,263			$	50,364			$	42,469			$	49,372			$	42,469
CREDIT QUALITY RATIOS
Allowance for loan and lease losses to
Nonaccrual loans			205.89	%			221.70	%			194.92	%			254.59	%			267.55	%			205.89	%			267.55	%
Nonperforming loans			197.94	%			212.42	%			187.35	%			241.41	%			252.82	%			197.94	%			252.82	%
Total ending loans			1.12	%			1.12	%			1.10	%			1.10	%			1.10	%			1.12	%			1.10	%
Nonperforming loans to total loans			0.56	%			0.53	%			0.59	%			0.45	%			0.44	%			0.56	%			0.44	%
Nonperforming assets to
Ending loans, plus OREO			0.67	%			0.65	%			0.67	%			0.56	%			0.53	%			0.67	%			0.53	%
Total assets			0.51	%			0.51	%			0.52	%			0.42	%			0.40	%			0.51	%			0.40	%

FIRST FINANCIAL BANCORP.
CAPITAL ADEQUACY

(Dollars in thousands)
(Unaudited)

																						Twelve months ended,
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,				Dec. 31,				Dec. 31,
		2007				2007				2007				2007				2006				2007				2006
PER COMMON SHARE
Market Price
High		$	13.89			$	15.12			$	15.72			$	16.76			$	17.50			$	16.76			$	18.32
Low		$	10.12			$	10.76			$	14.43			$	14.83			$	15.52			$	10.12			$	14.20
Close		$	11.40			$	12.78			$	14.99			$	15.11			$	16.61			$	11.40			$	16.61
Average shares outstanding — basic			37,370,618				38,383,228				38,965,409				39,121,105				39,377,735				38,455,084				39,539,114
Average shares outstanding — diluted			37,370,650				38,383,228				38,967,061				39,135,637				39,395,456				38,459,138				39,562,010
Ending shares outstanding			37,367,808				37,405,433				38,883,083				39,001,843				39,245,407				37,367,808				39,245,407
REGULATORY CAPITAL		Preliminary																				Preliminary
Tier 1 Capital		$	274,046			$	269,961			$	295,996			$	298,020			$	299,199			$	274,046			$	299,199
Tier 1 Ratio			10.29	%			10.18	%			11.13	%			11.57	%			11.73	%			10.29	%			11.73	%
Total Capital		$	303,103			$	299,097			$	324,056			$	325,550			$	326,779			$	303,103			$	326,779
Total Capital Ratio			11.38	%			11.27	%			12.18	%			12.64	%			12.81	%			11.38	%			12.81	%
Total Risk-Adjusted Assets		$	2,663,007			$	2,652,999			$	2,659,915			$	2,575,218			$	2,551,505			$	2,663,007			$	2,551,505
Leverage Ratio			8.26	%			8.21	%			9.04	%			9.08	%			9.02	%			8.33	%			8.76	%
OTHER CAPITAL RATIOS
Ending shareholders’ equity to ending assets			8.21	%			8.16	%			8.53	%			8.54	%			8.65	%			8.21	%			8.65	%
Ending tangible shareholders’ equity to ending tangible assets			7.41	%			7.35	%			7.71	%			7.73	%			7.69	%			7.41	%			7.69	%
Average shareholders’ equity to average assets			8.27	%			8.34	%			8.58	%			8.68	%			8.98	%			8.47	%			8.69	%
Average tangible shareholders’ equity to average tangible assets			7.47	%			7.53	%			7.76	%			7.86	%			8.04	%			7.66	%			7.77	%
REPURCHASE PROGRAM (1)
Shares repurchased			34,300				1,469,700				252,000				244,000				252,000				2,000,000				404,000
Average share repurchase price		$	13.52			$	13.00			$	15.07			$	16.11			$	16.64			$	13.65			$	16.24
Total cost of shares repurchased		$	464			$	19,105			$	3,797			$	3,931			$	4,192			$	27,297			$	6,562

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