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FIRST FINANCIAL BANCORP. (PARENT COMPANY ONLY) FINANCIAL INFORMATION
 12 Months Ended
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block] First Financial Bancorp. (Parent Company Only) Financial Information

Balance Sheets
 
 
December 31,
(Dollars in thousands)
 
2019
 
2018
Assets
 
 
 
 
Cash
 
$
55,869

 
$
86,878

Investment securities
 
1,116

 
694

Subordinated notes from subsidiaries
 
7,500

 
7,500

Investment in subsidiaries
 
 
 
 
Commercial bank
 
2,272,991

 
2,078,655

Non-banks
 
8,260

 
7,194

Total investment in subsidiaries
 
2,281,251

 
2,085,849

Premises and equipment
 
1,344

 
1,361

Other assets
 
77,572

 
71,817

Total assets
 
$
2,424,652

 
$
2,254,099

 
 
 
 
 
Liabilities
 
 
 
 
Subordinated notes
 
$
171,983

 
$
171,416

Dividends payable
 
849

 
465

Other liabilities
 
4,115

 
3,969

Total liabilities
 
176,947

 
175,850

Shareholders’ equity
 
2,247,705

 
2,078,249

Total liabilities and shareholders’ equity
 
$
2,424,652

 
$
2,254,099



Statements of Income and Comprehensive Income
 
 
Years Ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Income
 
 
 
 
 
 
Interest income
 
$
30

 
$
23

 
$
6

Noninterest income
 
191

 
0

 
86

Dividends from subsidiaries
 
196,800

 
107,340

 
54,600

Total income
 
197,021

 
107,363

 
54,692

 
 
 
 
 
 
 
Expenses
 
 
 
 
 
 
Interest expense
 
9,552

 
8,798

 
6,152

Salaries and employee benefits
 
8,169

 
6,413

 
5,519

Professional services
 
1,040

 
5,130

 
970

Other
 
6,599

 
5,648

 
4,819

Total expenses
 
25,360

 
25,989

 
17,460

Income before income taxes and equity in undistributed net earnings of subsidiaries
 
171,661

 
81,374

 
37,232

Income tax expense (benefit)
 
(5,975
)
 
(6,687
)
 
(7,080
)
Equity in undistributed earnings (loss) of subsidiaries
 
20,439

 
84,534

 
52,475

Net income
 
$
198,075

 
$
172,595

 
$
96,787

 
 
 
 
 
 
 
Comprehensive income
 
$
254,900

 
$
153,670

 
$
104,840


 

  
Statements of Cash Flows
 
 
Years Ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Operating activities
 
 
 
 
 
 
Net income
 
$
198,075

 
$
172,595

 
$
96,787

Adjustments to reconcile net income to net cash provided by operating activities
 
 
 
 
Equity in undistributed (earnings) loss of subsidiaries
 
(20,439
)
 
(84,534
)
 
(52,475
)
Depreciation and amortization
 
584

 
194

 
193

Stock-based compensation expense
 
7,969

 
6,219

 
5,446

Deferred income taxes
 
1,255

 
739

 
(360
)
(Decrease) increase in dividends payable
 
384

 
(10,500
)
 
579

Increase (decrease) in other liabilities
 
(244
)
 
9,979

 
(889
)
Decrease (increase) in other assets
 
(7,187
)
 
16,346

 
(6,951
)
Net cash provided by (used in) operating activities
 
180,397

 
111,038

 
42,330

 
 
 
 
 
 
 
Investing activities
 
 
 
 
 
 
Capital contributions to subsidiaries
 
0

 
(3,000
)
 
0

Net cash acquired (paid) in business combinations
 
(53,660
)
 
11,353

 
0

Proceeds from sales and maturities of investment securities
 
264

 
0

 
0

Purchases of investment securities
 
(500
)
 
0

 
0

Net cash (used in) provided by investing activities
 
(53,896
)
 
8,353

 
0

 
 
 
 
 
 
 
Financing activities
 
 
 
 
 
 
  (Decrease) increase in short-term borrowings
 
0

 
(8,333
)
 
0

Cash dividends paid on common stock
 
(89,097
)
 
(79,655
)
 
(41,178
)
Purchases of common stock
 
(66,218
)
 
0

 
0

Proceeds from exercise of stock options, net of shares purchased
 
90

 
284

 
341

Other
 
(2,285
)
 
(2,528
)
 
(3,059
)
Net cash (used in) provided by financing activities
 
(157,510
)
 
(90,232
)
 
(43,896
)
Net increase (decrease) in cash
 
(31,009
)
 
29,159

 
(1,566
)
Cash at beginning of year
 
86,878

 
57,719

 
59,285

Cash at end of year
 
$
55,869

 
$
86,878

 
$
57,719