Exhibit 5.3
[Letterhead of Richards, Layton & Finger, P.A.]
October 1, 2008
First Financial Bancorp.
4000 Smith Road
Cincinnati, Ohio 45209
Re: FFBC Captial Trust II
Ladies and Gentlemen:
We have acted as special Delaware counsel for FFBC Captial Trust II, a Delaware statutory
trust (the Trust), in connection with the matters set forth herein. At your request, this
opinion is being furnished to you.
We have examined and relied upon such records, documents, certificates and other instruments
as in our judgment are necessary or appropriate to enable us to render the opinions expressed
below, including the following documents:
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(a) |
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The Certificate of Trust of the Trust (the Certificate of
Trust), as filed with the office of the Secretary of State of the State of
Delaware (the Secretary of State) on September 25, 2008; |
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(b) |
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The Trust Agreement of the Trust, dated as of September 25,
2008, among First Financial Bancorp., a Ohio corporation (the Company), and
the trustees of the Trust named therein; |
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(c) |
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The Registration Statement, on Form S-3, including a prospectus
(the Prospectus), relating to the Preferred Capital Securities of the Trust
representing preferred undivided beneficial interests in the Trust (each, a
Preferred Capital Security and collectively, the Preferred Capital
Securities), filed by the Company and the Trust with the Securities and
Exchange Commission on October 1, 2008 (the Registration Statement); |
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(d) |
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A form of Amended and Restated Trust Agreement for the Trust
(the Trust Agreement), to be entered into between the Company and the
trustees of the Trust named therein (including the Exhibits thereto), filed as
an exhibit to the Registration Statement; and |
First Financial Bancorp.
October 1, 2008
Page 2
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(e) |
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A Certificate of Good Standing for the Trust, dated
September 30, 2008, obtained from the Secretary of State. |
Initially capitalized terms used herein and not otherwise defined are used as defined in the
Trust Agreement.
As to various questions of fact material to our opinion, we have relied upon the
representations made in the foregoing documents and upon certificates of officers of the Company.
With respect to all documents examined by us, we have assumed (i) the authenticity of all
documents submitted to us as authentic originals, (ii) the conformity with the originals of all
documents submitted to us as copies or forms, and (iii) the genuineness of all signatures.
For purposes of this opinion, we have assumed (i) that the Trust Agreement will constitute the
entire agreement among the parties thereto with respect to the subject matter thereof, including
with respect to the creation, operation and termination of the Trust, and that the Trust Agreement
and the Certificate of Trust will be in full force and effect and will not be amended, (ii) except
to the extent provided in paragraph 1 below, the due organization or due formation, as the case may
be, and valid existence in good standing of each party to the documents examined by us under the
laws of the jurisdiction governing its organization or formation, (iii) the legal capacity of
natural persons who are parties to the documents examined by us, (iv) that each of the parties to
the documents examined by us has the power and authority to execute and deliver, and to perform its
obligations under, such documents, (v) the due authorization, execution and delivery by all parties
thereto of all documents examined by us, (vi) the receipt by each Person to whom a Preferred
Capital Security is to be issued by the Trust (collectively, the Preferred Capital Security
Holders) of a Preferred Capital Security Certificate for such Preferred Capital Security and the
payment for such Preferred Capital Security, in accordance with the Trust Agreement and the
Registration Statement, and (vii) that the Preferred Capital Securities are authenticated, issued
and sold to the Preferred Capital Security Holders in accordance with the Trust Agreement and the
Registration Statement. We have not participated in the preparation of the Registration Statement
(except for providing this opinion) or the Prospectus and assume no responsibility for their
contents, other than this opinion.
This opinion is limited to the laws of the State of Delaware (excluding the securities laws of
the State of Delaware), and we have not considered and express no opinion on the laws of any other
jurisdiction, including federal laws and rules and regulations relating thereto. Our opinions are
rendered only with respect to Delaware laws and rules, regulations and orders thereunder which are
currently in effect.
Based upon the foregoing, and upon our examination of such questions of law and statutes of
the State of Delaware as we have considered necessary or appropriate, and subject to the
assumptions, qualifications, limitations and exceptions set forth herein, we are of the opinion
that:
First Financial Bancorp.
October 1, 2008
Page 3
1. The Trust has been duly formed and is validly existing in good standing as a statutory
trust under the Delaware Statutory Trust Act, 12 Del. C. § 3801, et. seq.
2. The Preferred Capital Securities of the Trust will represent valid and, subject to the
qualifications set forth in paragraph 3 below, fully paid and nonassessable beneficial interests in
the assets of the Trust.
3. The Preferred Capital Security Holders, as beneficial owners of the Trust, will be entitled
to the same limitation of personal liability extended to stockholders of private corporations for
profit organized under the General Corporation Law of the State of Delaware. We note that the
Preferred Capital Security Holders may be obligated to make payments as set forth in the Trust
Agreement.
We consent to the filing of this opinion with the Securities and Exchange Commission as an
exhibit to the Registration Statement. We hereby consent to the use of our name under the heading
Validity of Securities in the Prospectus. In giving the foregoing consents, we do not thereby
admit that we come within the category of persons whose consent is required under Section 7 of the
Securities Act of 1933, as amended, or the rules and regulations of the Securities and Exchange
Commission thereunder.
Very truly yours,
/s/ Richards, Layton & Finger, P.A.
EAM/JWP/jh