Exhibit 99.1

First Financial Bancorp Announces Second Quarter 2020 Financial Results

•Earnings per diluted share of $0.38; $0.40 on an adjusted⁽¹⁾ basis

•Return on average assets of 0.96%; 1.00% as adjusted⁽¹⁾

•57.5% efficiency ratio; 56.1% as adjusted⁽¹⁾

•Record core fee income driven by $16.7 million of mortgage banking income

•$20.2 million total provision for credit losses

Cincinnati, Ohio - July 23, 2020 - First Financial Bancorp. (Nasdaq: FFBC) (“First Financial” or the “Company”) announced financial results for the three and six months ended June 30, 2020.

For the three months ended June 30, 2020, the Company reported net income of $37.4 million, or $0.38 per diluted common share. These results compare to net income of $28.6 million, or $0.29 per diluted common share, for the first quarter of 2020 and $52.7 million, or $0.53 per diluted common share, for the second quarter of 2019. For the six months ended June 30, 2020, First Financial had earnings per diluted common share of $0.67 compared to $1.00 for the same period in 2019.

Return on average assets for the second quarter of 2020 was 0.96% while return on average tangible common equity was 12.90%. These compare to returns on average assets of 0.79% and 1.50%, and returns on average tangible common equity of 9.71% and 17.33%, in the first quarter of 2020 and the second quarter of 2019, respectively.

Second quarter 2020 highlights include:

•After adjustments⁽¹⁾ for certain nonrecurring and certain COVID-19 related items:

◦Net income of $0.40 per diluted common share

◦1.00% return on average assets

◦13.47% return on average tangible common equity

•Adjustments⁽¹⁾ to net income include:

◦$0.7 million of costs directly related to COVID-19

◦$1.5 million of other nonrecurring costs such as branch consolidation costs

•Total Allowance for Credit Losses of $175.3 million; Total quarterly provision for credit losses of $20.2 million

◦Loans and leases - ACL of $158.7 million, 1.56% of total loans; 1.71% of loans excluding PPP

◦Unfunded Commitments - ACL of $16.7 million; $2.4 million provision expense

◦Similar to first quarter, substantially all second quarter provision expense related to expected economic impact from COVID-19

•Strong noninterest income of $42.7 million, an increase of 20.7% from the linked quarter

◦Mortgage banking revenue increased $13.8 million, or 488.6%

◦Continued strong client derivative fee income

◦Foreign exchange income of $6.6 million despite COVID-19 headwinds

◦Service charges on deposits, including overdrafts, declined $2.4 million, or 28.9%

• Noninterest expenses of $88.7 million, or $86.5 million as adjusted⁽¹⁾

◦Efficiency ratio of 57.5%; 56.1% as adjusted⁽¹⁾

_________________________________________________________________________________________⁽¹⁾ Financial information in this release that is described as “adjusted” or that is presented on a fully tax equivalent basis is non-GAAP. For details on the calculation of these non-GAAP financial measures and a reconciliation to the GAAP financial measure, see the sections titled “Use of Non-GAAP Financial Measures” in this release and “Appendix: Non-GAAP to GAAP Reconciliation” in the accompanying slide presentation.

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•Loan balances grew $873.9 million, or 37.8% on an annualized basis

◦Loan growth driven by $885.3 million of PPP loans, net of unearned fees

•Net interest margin of 3.44% on a fully tax-equivalent basis⁽¹⁾

◦33 basis point decline compared to the linked quarter; 62 basis point decline due to loan yields

◦3 basis points of dilution from PPP

◦Impact of downward movement in short term rates, including the normalization of LIBOR, partially offset by funding cost reductions, higher loan fees, and elevated purchase accounting accretion

•Strong capital ratios

◦Total capital of 15.13%; bolstered by $150 million sub-debt issuance in early second quarter

◦Tier 1 common equity of 11.44%

◦Tangible common equity of 8.09%; 8.62% excluding PPP loans

◦Tangible book value per share of $12.26

In response to COVID-19, the Company has:

• Introduced hardship relief programs that include payment deferrals, fee-waivers and suspension of foreclosures

◦Processed over $2.0 billion of commercial modifications

◦Modified over $126 million of consumer loans including $103 million in residential mortgages

• Participated in CARES Act SBA Paycheck Protection Program

◦Received in excess of 8,200 PPP applications; over $1.2 billion in requests

◦Approximately 6,800 PPP requests, or 83% of applicants, approved by SBA

◦$912.9 million in PPP balances as of June 30; to date forgiveness has not been requested on any loan

• Continued implementation of new processes and technologies to improve customer access to banking services

• Updated existing internal processes and systems to react to high customer demand for relief

• Donated $1.0 million to fund COVID-19 related relief in our geographic footprint in the first quarter

Archie Brown, President and Chief Executive Officer, remarked, “We are very pleased with our second quarter performance, especially when considering the unique circumstances in which we were operating due to COVID-19. While second quarter earnings were negatively impacted by pandemic-related events, we posted solid results as reflected in our adjusted⁽¹⁾ earnings per share of $0.40, adjusted⁽¹⁾ return on assets of 1.00% and adjusted⁽¹⁾ efficiency ratio of 56.1%. Additionally, credit trends remained stable while our allowance for credit losses increased to 1.71% of total loans, excluding PPP, and we recorded $20.2 million of provision expense in anticipation of credit deterioration in the latter part of the year and into 2021."

Mr. Brown continued, “The second quarter was our highest core fee income quarter on record and was the primary driver of our excellent performance. Our mortgage team had a sensational quarter as the hard work of our team combined with the historic low interest rate environment to drive an almost 500% increase in total mortgage banking revenue to $16.7 million. In addition, client derivative income remained steady during the quarter and Bannockburn revenue, while lower than the first quarter, was in line with our expectations given the challenges caused by business shutdowns. Additionally, total expenses declined during the quarter as we limited discretionary spending and implemented additional controls on hiring."

Mr. Brown further commented, "We are pleased with and appreciative of the incredible work performed by our associates during the quarter. We successfully implemented our pandemic management plan, which resulted in over 50% of our associates working remotely and our branches operating with closed lobbies for most of the quarter. This required a prompt evaluation of our client service model and a shift to leveraging technology in new and innovative ways. Our associates met the challenge, and went above and beyond to originate and fund over $900 million in PPP loans, provide customer deferrals for over $2 billion of loans, and process historic numbers of fee waivers and mortgage applications. By the second half of the quarter, sales activity returned to near pre-pandemic levels which led to increases in new households with checking accounts, strong consumer loan originations and robust wealth production.”

Mr. Brown continued, “At this time, approximately 60% of our banking center lobbies are fully open with the remainder servicing clients by appointment. Physical staffing levels in our office buildings is currently limited to 25% of normal capacity, mostly on a volunteer basis, with the remainder of the staff continuing to work remotely. We continually monitor

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conditions in our markets and banking centers, in addition to guidance provided by local and state governments with regard to safely returning to the workplace and opening our branch locations to customers.”

Mr. Brown concluded, “The second quarter was historic and challenging, however it illuminated what we are capable of as a company and positioned us to build on the lessons learned in a meaningful way. We continue to better leverage technology and are reevaluating our distribution model to better serve the needs of our customers. The broader economic environment remains uncertain and our clients continue to face serious challenges. We are committed to be a stabilizing presence in our communities and remain steadfast in our promise to manage the Company in a manner that prioritizes the physical and financial well-being of our associates and clients while delivering long-term value to our shareholders.”

Full detail of the Company’s second quarter performance is provided in the accompanying financial statements and slide presentation.

Teleconference / Webcast Information

First Financial’s executive management will host a conference call to discuss the Company’s financial and operating results on Friday, July 24, 2020 at 8:30 a.m. Eastern Time. Members of the public who would like to listen to the conference call should dial (877) 506-6873 (U.S. toll free), (855) 669-9657 (Canada toll free) or +1 (412) 380-2003 (International) (no passcode required). The number should be dialed five to ten minutes prior to the start of the conference call. The conference call will also be accessible as an audio webcast via the Investor Relations section of the Company’s website at www.bankatfirst.com. A replay of the conference call will be available beginning one hour after the completion of the live call at (877) 344-7529 (U.S. toll free), (855) 669-9658 (Canada toll free) and +1 (412) 317-0088 (International); conference number 10145789. The webcast will be archived on the Investor Relations section of the Company’s website for 12 months.

Press Release and Additional Information on Website

This press release as well as supplemental information are available to the public through the Investor Relations section of First Financial's website at www.bankatfirst.com.

Use of Non-GAAP Financial Measures

This earnings release contains GAAP financial measures and Non-GAAP financial measures where management believes it to be helpful in understanding the Company’s results of operations or financial position. Where Non-GAAP financial measures are used, the comparable GAAP financial measures, as well as a reconciliation to the comparable GAAP financial measure, can be found in the section titled “Appendix: Non-GAAP to GAAP Reconciliation” in the accompanying slide presentation.

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Forward-Looking Statement

Certain statements contained in this report which are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Words such as ‘‘believes,’’ ‘‘anticipates,’’ “likely,” “expected,” “estimated,” ‘‘intends’’ and other similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.  Examples of forward-looking statements include, but are not limited to, statements we make about (i) our future operating or financial performance, including revenues, income or loss and earnings or loss per share, (ii) future common stock dividends, (iii) our capital structure, including future capital levels, (iv) our plans, objectives and strategies, and (v) the assumptions that underlie our forward-looking statements.

As with any forecast or projection, forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances that may cause actual results to differ materially from those set forth in the forward-looking statements.  Forward-looking statements are not historical facts but instead express only management’s beliefs regarding future results or events, many of which, by their nature, are inherently uncertain and outside of management’s control. It is possible that actual results and outcomes may differ, possibly materially, from the anticipated results or outcomes indicated in these forward-looking statements.  Important factors that could cause actual results to differ materially from those in our forward-looking statements include the following, without limitation:

•economic, market, liquidity, credit, interest rate, operational and technological risks associated with the Company’s business;

•future credit quality and performance, including our expectations regarding future loan losses and our allowance for credit losses

•the effect of and changes in policies and laws or regulatory agencies, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and other legislation and regulation relating to the banking industry; (iv) management’s ability to effectively execute its business plans;

•mergers and acquisitions, including costs or difficulties related to the integration of acquired companies;

•the possibility that any of the anticipated benefits of the Company’s acquisitions will not be realized or will not be realized within the expected time period;

•the effect of changes in accounting policies and practices;

•changes in consumer spending, borrowing and saving and changes in unemployment;

•changes in customers’ performance and creditworthiness;

•the costs and effects of litigation and of unexpected or adverse outcomes in such litigation;  

•current and future economic and market conditions, including the effects of declines in housing prices, high unemployment rates, U.S. fiscal debt, budget and tax matters, geopolitical matters, and any slowdown in global economic growth;

•the adverse impact on the U.S. economy, including the markets in which we operate, of the novel coronavirus, which causes the Coronavirus disease 2019 (“COVID-19”), global pandemic, and the impact of a slowing U.S. economy and increased unemployment on the performance of our loan and lease portfolio, the market value of our investment securities, the availability of sources of funding and the demand for our products;

•our capital and liquidity requirements (including under regulatory capital standards, such as the Basel III capital standards) and our ability to generate capital internally or raise capital on favorable terms;

•financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including the Dodd-Frank Act and other legislation and regulation relating to bank products and services;

•the effect of the current interest rate environment or changes in interest rates or in the level or composition of our assets or liabilities on our net interest income, net interest margin and our mortgage originations, mortgage servicing rights and mortgage loans held for sale;

•the effect of a fall in stock market prices on our brokerage, asset and wealth management businesses;

•a failure in or breach of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber attacks;

•the effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin; and

•our ability to develop and execute effective business plans and strategies.

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Additional factors that may cause our actual results to differ materially from those described in our forward-looking statements can be found in our Form 10-K for the year ended December 31, 2019, as well as our other filings with the SEC, which are available on the SEC website at www.sec.gov. 

All forward-looking statements included in this filing are made as of the date hereof and are based on information available at the time of the filing.  Except as required by law, the Company does not assume any obligation to update any forward-looking statement.

About First Financial Bancorp.

First Financial Bancorp. is a Cincinnati, Ohio based bank holding company. As of June 30, 2020, the Company had $15.9 billion in assets, $10.2 billion in loans, $11.7 billion in deposits and $2.2 billion in shareholders’ equity. The Company’s subsidiary, First Financial Bank, founded in 1863, provides banking and financial services products through its six lines of business: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance and Wealth Management. These business units provide traditional banking services to business and retail clients. Wealth Management provides wealth planning, portfolio management, trust and estate, brokerage and retirement plan services and had approximately $2.8 billion in assets under management as of June 30, 2020. The Company operated 141 full service banking centers as of June 30, 2020, primarily in Ohio, Indiana and Kentucky, while the Commercial Finance business lends into targeted industry verticals on a nationwide basis. Additional information about the Company, including its products, services and banking locations, is available at www.bankatfirst.com.

Contact Information

Investors/Analysts Media

Jamie Anderson      Tim Condron

Chief Financial Officer     Marketing Communications Manager

(513) 887-5400      (513) 979-5796

InvestorRelations@bankatfirst.com media@bankatfirst.com

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Selected Financial Information

June 30, 2020

(unaudited)

Contents			Page
Consolidated Financial Highlights			2
Consolidated Statements of Income			3
Consolidated Quarterly Statements of Income			4-5
Consolidated Statements of Condition			6
Average Consolidated Statements of Condition			7
Net Interest Margin Rate / Volume Analysis			8-9
Credit Quality			10
Capital Adequacy			11

FIRST FINANCIAL BANCORP.
CONSOLIDATED FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share data)
(Unaudited)
			Three Months Ended,																																																						Six months ended,
			June 30,						Mar. 31,						Dec. 31,						Sep. 30,						June 30,						June 30,
			2020						2020						2019						2019						2019						2020						2019
RESULTS OF OPERATIONS
Net income			$	37,393					$	28,628					$	48,677					$	50,856					$	52,703					$	66,021					$	98,542
Net earnings per share - basic			$	0.38					$	0.29					$	0.49					$	0.52					$	0.54					$	0.68					$	1.01
Net earnings per share - diluted			$	0.38					$	0.29					$	0.49					$	0.51					$	0.53					$	0.67					$	1.00
Dividends declared per share			$	0.23					$	0.23					$	0.23					$	0.23					$	0.22					$	0.46					$	0.44
KEY FINANCIAL RATIOS
Return on average assets			0.96		%				0.79		%				1.34		%				1.41		%				1.50		%				0.88		%				1.42		%
Return on average shareholders' equity			6.88		%				5.21		%				8.60		%				9.13		%				9.85		%				6.04		%				9.37		%
Return on average tangible shareholders' equity			12.90		%				9.71		%				15.84		%				16.15		%				17.33		%				11.29		%				16.66		%
Net interest margin			3.38		%				3.71		%				3.84		%				3.91		%				3.99		%				3.54		%				4.02		%
Net interest margin (fully tax equivalent) (1)			3.44		%				3.77		%				3.89		%				3.96		%				4.04		%				3.60		%				4.07		%
Ending shareholders' equity as a percent of ending assets			13.99		%				14.47		%				15.49		%				15.62		%				15.16		%				13.99		%				15.16		%
Ending tangible shareholders' equity as a percent of:
Ending tangible assets			8.09		%				8.25		%				9.07		%				9.17		%				9.34		%				8.09		%				9.34		%
Risk-weighted assets			10.85		%				10.50		%				11.09		%				11.34		%				11.82		%				10.85		%				11.82		%
Average shareholders' equity as a percent of average assets			13.91		%				15.21		%				15.53		%				15.43		%				15.22		%				14.54		%				15.12		%
Average tangible shareholders' equity as a percent of
average tangible assets			7.94		%				8.79		%				9.07		%				9.35		%				9.26		%				8.34		%				9.11		%
Book value per share			$	22.66					$	22.25					$	22.82					$	22.59					$	22.18					$	22.66					$	22.18
Tangible book value per share			$	12.26					$	11.82					$	12.42					$	12.33					$	12.79					$	12.26					$	12.79
Common equity tier 1 ratio (2)			11.44		%				11.27		%				11.30		%				11.52		%				12.00		%				11.44		%				12.00		%
Tier 1 ratio (2)			11.83		%				11.66		%				11.69		%				11.91		%				12.40		%				11.83		%				12.40		%
Total capital ratio (2)			15.13		%				13.54		%				13.39		%				13.62		%				14.20		%				15.13		%				14.20		%
Leverage ratio (2)			8.98		%				9.49		%				9.58		%				9.75		%				10.02		%				8.98		%				10.02		%
AVERAGE BALANCE SHEET ITEMS
Loans (3)			$	10,002,379					$	9,220,643					$	9,149,222					$	9,014,092					$	8,852,662					$	9,611,511					$	8,813,206
Investment securities			3,164,243						3,115,723						3,102,867						3,290,666						3,408,994						3,139,983						3,382,510
Interest-bearing deposits with other banks			91,990						39,332						36,672						38,569						33,255						65,661						33,978
Total earning assets			$	13,258,612					$	12,375,698					$	12,288,761					$	12,343,327					$	12,294,911					$	12,817,155					$	12,229,694
Total assets			$	15,710,204					$	14,524,422					$	14,460,288					$	14,320,514					$	14,102,733					$	15,117,313					$	14,028,058
Noninterest-bearing deposits			$	3,335,866					$	2,643,240					$	2,638,908					$	2,513,458					$	2,484,214					$	2,989,553					$	2,470,974
Interest-bearing deposits			8,395,229						7,590,791						7,583,531						7,504,708						7,612,146						7,993,010						7,611,125
Total deposits			$	11,731,095					$	10,234,031					$	10,222,439					$	10,018,166					$	10,096,360					$	10,982,563					$	10,082,099
Borrowings			$	1,272,819					$	1,735,767					$	1,613,696					$	1,816,983					$	1,656,570					$	1,504,293					$	1,622,011
Shareholders' equity			$	2,185,865					$	2,209,733					$	2,245,107					$	2,210,327					$	2,146,997					$	2,197,799					$	2,120,762
CREDIT QUALITY RATIOS
Allowance to ending loans			1.56		%				1.55		%				0.63		%				0.62		%				0.69		%				1.56		%				0.69		%
Allowance to nonaccrual loans			233.74		%				296.51		%				119.69		%				93.18		%				119.86		%				233.74		%				119.86		%
Allowance to nonperforming loans			208.06		%				203.42		%				96.73		%				71.46		%				69.33		%				208.06		%				69.33		%
Nonperforming loans to total loans			0.75		%				0.76		%				0.65		%				0.87		%				0.99		%				0.75		%				0.99		%
Nonperforming assets to ending loans, plus OREO			0.77		%				0.78		%				0.67		%				0.89		%				1.00		%				0.77		%				1.00		%
Nonperforming assets to total assets			0.49		%				0.48		%				0.42		%				0.56		%				0.62		%				0.49		%				0.62		%
Classified assets to total assets			0.79		%				0.83		%				0.62		%				0.92		%				1.02		%				0.79		%				1.02		%
Net charge-offs to average loans (annualized)			0.12		%				(0.04)		%				0.15		%				0.45		%				0.08		%				0.05		%				0.36		%

(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% 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) June 30, 2020 regulatory capital ratios are preliminary.

(3) Includes loans held for sale.

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FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
			Three months ended,																														Six months ended,
			June 30,																														June 30,
			2020						2019						% Change						2020						2019						% Change
Interest income
Loans and leases, including fees			$	105,900					$	126,365					(16.2)		%				$	221,675					$	249,421					(11.1)		%
Investment securities
Taxable			18,476						23,616						(21.8)		%				37,481						47,851						(21.7)		%
Tax-exempt			4,937						4,336						13.9		%				9,519						8,594						10.8		%
Total investment securities interest			23,413						27,952						(16.2)		%				47,000						56,445						(16.7)		%
Other earning assets			47						206						(77.2)		%				189						416						(54.6)		%
Total interest income			129,360						154,523						(16.3)		%				268,864						306,282						(12.2)		%
Interest expense
Deposits			11,751						20,612						(43.0)		%				28,116						39,855						(29.5)		%
Short-term borrowings			1,274						6,646						(80.8)		%				6,361						12,606						(49.5)		%
Long-term borrowings			4,759						4,963						(4.1)		%				8,529						10,004						(14.7)		%
Total interest expense			17,784						32,221						(44.8)		%				43,006						62,465						(31.2)		%
Net interest income			111,576						122,302						(8.8)		%				225,858						243,817						(7.4)		%
Provision for credit losses-loans and leases (1)			17,859						6,658						168.2		%				41,739						20,741						101.2		%
Provision for credit losses-unfunded commitments (1)			2,370						(132)						N/M						3,938						(126)						N/M
Net interest income after provision for credit losses			91,347						115,776						(21.1)		%				180,181						223,202						(19.3)		%
Noninterest income
Service charges on deposit accounts			6,001						9,819						(38.9)		%				14,436						18,722						(22.9)		%
Trust and wealth management fees			4,114						3,943						4.3		%				8,583						8,013						7.1		%
Bankcard income			2,844						6,497						(56.2)		%				5,542						12,083						(54.1)		%
Client derivative fees			2,984						4,905						(39.2)		%				6,089						6,609						(7.9)		%
Foreign exchange income			6,576						17						N/M						16,542						17						N/M
Net gains from sales of loans			16,662						3,432						385.5		%				19,493						5,322						266.3		%
Net gains (losses) on sale of investment securities			2						(37)						105.4		%				(57)						(215)						73.5		%
Other			3,542						6,062						(41.6)		%				7,481						10,914						(31.5)		%
Total noninterest income			42,725						34,638						23.3		%				78,109						61,465						27.1		%
Noninterest expenses
Salaries and employee benefits			55,925						53,985						3.6		%				110,747						101,897						8.7		%
Net occupancy			5,378						5,596						(3.9)		%				11,482						12,226						(6.1)		%
Furniture and equipment			3,681						4,222						(12.8)		%				7,734						7,638						1.3		%
Data processing			7,019						4,984						40.8		%				13,408						10,111						32.6		%
Marketing			1,339						1,976						(32.2)		%				2,559						3,582						(28.6)		%
Communication			907						747						21.4		%				1,797						1,475						21.8		%
Professional services			2,205						2,039						8.1		%				4,480						4,291						4.4		%
State intangible tax			1,514						1,307						15.8		%				3,030						2,617						15.8		%
FDIC assessments			1,290						1,065						21.1		%				2,695						2,015						33.7		%
Intangible amortization			2,791						2,044						36.5		%				5,583						4,089						36.5		%
Other			6,640						6,545						1.5		%				14,840						13,062						13.6		%
Total noninterest expenses			88,689						84,510						4.9		%				178,355						163,003						9.4		%
Income before income taxes			45,383						65,904						(31.1)		%				79,935						121,664						(34.3)		%
Income tax expense			7,990						13,201						(39.5)		%				13,914						23,122						(39.8)		%
Net income			$	37,393					$	52,703					(29.0)		%				$	66,021					$	98,542					(33.0)		%
ADDITIONAL DATA
Net earnings per share - basic			$	0.38					$	0.54											$	0.68					$	1.01
Net earnings per share - diluted			$	0.38					$	0.53											$	0.67					$	1.00
Dividends declared per share			$	0.23					$	0.22											$	0.46					$	0.44
Return on average assets			0.96		%				1.50		%										0.88		%				1.42		%
Return on average shareholders' equity			6.88		%				9.85		%										6.04		%				9.37		%
Interest income			$	129,360					$	154,523					(16.3)		%				$	268,864					$	306,282					(12.2)		%
Tax equivalent adjustment			1,664						1,416						17.5		%				3,288						2,939						11.9		%
Interest income - tax equivalent			131,024						155,939						(16.0)		%				272,152						309,221						(12.0)		%
Interest expense			17,784						32,221						(44.8)		%				43,006						62,465						(31.2)		%
Net interest income - tax equivalent			$	113,240					$	123,718					(8.5)		%				$	229,146					$	246,756					(7.1)		%
Net interest margin			3.38		%				3.99		%										3.54		%				4.02		%
Net interest margin (fully tax equivalent) (2)			3.44		%				4.04		%										3.60		%				4.07		%
Full-time equivalent employees			2,076						2,076
(1) Beginning January 1,2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on the incurred loss methodology.
(2) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% 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 provide useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons.

3

FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
															2020
															Second						First						Full						% Change
															Quarter						Quarter						Year						Linked Qtr.
Interest income
Loans and leases, including fees															$	105,900					$	115,775					$	221,675					(8.5)		%
Investment securities
Taxable															18,476						19,005						37,481						(2.8)		%
Tax-exempt															4,937						4,582						9,519						7.7		%
Total investment securities interest															23,413						23,587						47,000						(0.7)		%
Other earning assets															47						142						189						(66.9)		%
Total interest income															129,360						139,504						268,864						(7.3)		%
Interest expense
Deposits															11,751						16,365						28,116						(28.2)		%
Short-term borrowings															1,274						5,087						6,361						(75.0)		%
Long-term borrowings															4,759						3,770						8,529						26.2		%
Total interest expense															17,784						25,222						43,006						(29.5)		%
Net interest income															111,576						114,282						225,858						(2.4)		%
Provision for credit losses-loans and leases (1)															17,859						23,880						41,739						(25.2)		%
Provision for credit losses-unfunded commitments (1)															2,370						1,568						3,938						51.1		%
Net interest income after provision for credit losses															91,347						88,834						180,181						2.8		%
Noninterest income
Service charges on deposit accounts															6,001						8,435						14,436						(28.9)		%
Trust and wealth management fees															4,114						4,469						8,583						(7.9)		%
Bankcard income															2,844						2,698						5,542						5.4		%
Client derivative fees															2,984						3,105						6,089						(3.9)		%
Foreign exchange income															6,576						9,966						16,542						(34.0)		%
Net gains from sales of loans															16,662						2,831						19,493						488.6		%
Net gains (losses) on sale of investment securities															2						(59)						(57)						103.4		%
Other															3,542						3,939						7,481						(10.1)		%
Total noninterest income															42,725						35,384						78,109						20.7		%
Noninterest expenses
Salaries and employee benefits															55,925						54,822						110,747						2.0		%
Net occupancy															5,378						6,104						11,482						(11.9)		%
Furniture and equipment															3,681						4,053						7,734						(9.2)		%
Data processing															7,019						6,389						13,408						9.9		%
Marketing															1,339						1,220						2,559						9.8		%
Communication															907						890						1,797						1.9		%
Professional services															2,205						2,275						4,480						(3.1)		%
State intangible tax															1,514						1,516						3,030						(0.1)		%
FDIC assessments															1,290						1,405						2,695						(8.2)		%
Intangible amortization															2,791						2,792						5,583						0.0		%
Other															6,640						8,200						14,840						(19.0)		%
Total noninterest expenses															88,689						89,666						178,355						(1.1)		%
Income before income taxes															45,383						34,552						79,935						31.3		%
Income tax expense															7,990						5,924						13,914						34.9		%
Net income															$	37,393					$	28,628					$	66,021					30.6		%
ADDITIONAL DATA
Net earnings per share - basic															$	0.38					$	0.29					$	0.68
Net earnings per share - diluted															$	0.38					$	0.29					$	0.67
Dividends declared per share															$	0.23					$	0.23					$	0.46
Return on average assets															0.96		%				0.79		%				0.88		%
Return on average shareholders' equity															6.88		%				5.21		%				6.04		%
Interest income															$	129,360					$	139,504					$	268,864					(7.3)		%
Tax equivalent adjustment															1,664						1,624						3,288						2.5		%
Interest income - tax equivalent															131,024						141,128						272,152						(7.2)		%
Interest expense															17,784						25,222						43,006						(29.5)		%
Net interest income - tax equivalent															$	113,240					$	115,906					$	229,146					(2.3)		%
Net interest margin															3.38		%				3.71		%				3.54		%
Net interest margin (fully tax equivalent) (2)															3.44		%				3.77		%				3.60		%
Full-time equivalent employees															2,076						2,067
(1) Beginning January 1,2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on the incurred loss methodology.
(2) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% 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 provide useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons.

4

FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
									2019
									Fourth						Third						Second						First						Full
									Quarter						Quarter						Quarter						Quarter						Year
Interest income
Loans and leases, including fees									$	122,802					$	126,786					$	126,365					$	123,056					$	499,009
Investment securities
Taxable									20,137						22,180						23,616						24,235						90,168
Tax-exempt									4,545						4,457						4,336						4,258						17,596
Total investment securities interest									24,682						26,637						27,952						28,493						107,764
Other earning assets									167						222						206						210						805
Total interest income									147,651						153,645						154,523						151,759						607,578
Interest expense
Deposits									19,026						20,151						20,612						19,243						79,032
Short-term borrowings									5,430						7,199						6,646						5,960						25,235
Long-term borrowings									4,293						4,760						4,963						5,041						19,057
Total interest expense									28,749						32,110						32,221						30,244						123,324
Net interest income									118,902						121,535						122,302						121,515						484,254
Provision for credit losses-loans and leases (1)									4,629						5,228						6,658						14,083						30,598
Provision for credit losses-unfunded commitments (1)									177						(216)						(132)						6						(165)
Net interest income after provision for credit losses									114,096						116,523						115,776						107,426						453,821
Noninterest income
Service charges on deposit accounts									9,343						9,874						9,819						8,903						37,939
Trust and wealth management fees									3,913						3,718						3,943						4,070						15,644
Bankcard income									3,405						3,316						6,497						5,586						18,804
Client derivative fees									4,194						4,859						4,905						1,704						15,662
Foreign exchange income									6,014						1,708						17						0						7,739
Net gains from sales of loans									4,723						4,806						3,432						1,890						14,851
Net gains on sale of investment securities									(296)						105						(37)						(178)						(406)
Other									5,472						4,754						6,062						4,852						21,140
Total noninterest income									36,768						33,140						34,638						26,827						131,373
Noninterest expenses
Salaries and employee benefits									53,952						53,212						53,985						47,912						209,061
Net occupancy									6,334						5,509						5,596						6,630						24,069
Furniture and equipment									4,145						4,120						4,222						3,416						15,903
Data processing									5,996						5,774						4,984						5,127						21,881
Marketing									1,980						1,346						1,976						1,606						6,908
Communication									882						910						747						728						3,267
Professional services									2,192						4,771						2,039						2,252						11,254
State intangible tax									1,767						1,445						1,307						1,310						5,829
FDIC assessments									1,055						(1,097)						1,065						950						1,973
Intangible amortization									3,150						2,432						2,044						2,045						9,671
Other									11,434						8,020						6,545						6,517						32,516
Total noninterest expenses									92,887						86,442						84,510						78,493						342,332
Income before income taxes									57,977						63,221						65,904						55,760						242,862
Income tax expense (benefit)									9,300						12,365						13,201						9,921						44,787
Net income									$	48,677					$	50,856					$	52,703					$	45,839					$	198,075
ADDITIONAL DATA
Net earnings per share - basic									$	0.49					$	0.52					$	0.54					$	0.47					$	2.01
Net earnings per share - diluted									$	0.49					$	0.51					$	0.53					$	0.47					$	2.00
Dividends declared per share									$	0.23					$	0.23					$	0.22					$	0.22					$	0.90
Return on average assets									1.34		%				1.41		%				1.50		%				1.33		%				1.39		%
Return on average shareholders' equity									8.60		%				9.13		%				9.85		%				8.88		%				9.11		%
Interest income									$	147,651					$	153,645					$	154,523					$	151,759					$	607,578
Tax equivalent adjustment									1,630						1,759						1,416						1,523						6,328
Interest income - tax equivalent									149,281						155,404						155,939						153,282						613,906
Interest expense									28,749						32,110						32,221						30,244						123,324
Net interest income - tax equivalent									$	120,532					$	123,294					$	123,718					$	123,038					$	490,582
Net interest margin									3.84		%				3.91		%				3.99		%				4.05		%				3.95		%
Net interest margin (fully tax equivalent) (2)									3.89		%				3.96		%				4.04		%				4.10		%				4.00		%
Full-time equivalent employees									2,065						2,064						2,076						2,087
(1) Beginning January 1,2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on the incurred loss methodology.
(2) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 21% 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 provide useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons.

5

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
			June 30,						Mar. 31,						Dec. 31,						Sep. 30,						June 30,						% Change						% Change
			2020						2020						2019						2019						2019						Linked Qtr.						Comp Qtr.
ASSETS
Cash and due from banks			$	283,639					$	261,892					$	200,691					$	242,482					$	169,694					8.3		%				67.1		%
Interest-bearing deposits with other banks			38,845						71,071						56,948						39,669						101,668						(45.3)		%				(61.8)		%
Investment securities available-for-sale			2,897,413						2,908,688						2,852,084						2,850,502						3,152,970						(0.4)		%				(8.1)		%
Investment securities held-to-maturity			127,347						136,744						142,862						148,778						154,327						(6.9)		%				(17.5)		%
Other investments			132,366						143,581						125,020						124,965						127,439						(7.8)		%				3.9		%
Loans held for sale			43,950						27,334						13,680						23,528						20,244						60.8		%				117.1		%
Loans and leases
Commercial and industrial			3,322,374						2,477,773						2,465,877						2,470,017						2,547,997						34.1		%				30.4		%
Lease financing			80,087						82,602						88,364						92,616						90,638						(3.0)		%				(11.6)		%
Construction real estate			506,085						500,311						493,182						515,960						497,683						1.2		%				1.7		%
Commercial real estate			4,343,702						4,278,257						4,194,651						4,015,908						3,903,654						1.5		%				11.3		%
Residential real estate			1,043,745						1,061,792						1,055,949						1,055,007						1,015,820						(1.7)		%				2.7		%
Home equity			764,171						781,243						771,869						776,885						787,139						(2.2)		%				(2.9)		%
Installment			79,150						80,085						82,589						88,275						89,149						(1.2)		%				(11.2)		%
Credit card			42,397						45,756						49,184						49,010						48,706						(7.3)		%				(13.0)		%
Total loans			10,181,711						9,307,819						9,201,665						9,063,678						8,980,786						9.4		%				13.4		%
Less:
Allowance for credit losses (1)			158,661						143,885						57,650						56,552						61,549						10.3		%				157.8		%
Net loans			10,023,050						9,163,934						9,144,015						9,007,126						8,919,237						9.4		%				12.4		%
Premises and equipment			211,164						212,787						214,506						213,681						211,313						(0.8)		%				(0.1)		%
Goodwill			937,771						937,771						937,771						937,689						879,727						0.0		%				6.6		%
Other intangibles			70,325						73,258						76,201						79,506						36,349						(4.0)		%				93.5		%
Accrued interest and other assets			1,105,020						1,120,507						747,847						812,519						664,695						(1.4)		%				66.2		%
Total Assets			$	15,870,890					$	15,057,567					$	14,511,625					$	14,480,445					$	14,437,663					5.4		%				9.9		%
LIABILITIES
Deposits
Interest-bearing demand			$	2,657,841					$	2,498,109					$	2,364,881					$	2,316,301					$	2,332,692					6.4		%				13.9		%
Savings			3,287,314						2,978,250						2,960,979						2,924,200						2,953,114						10.4		%				11.3		%
Time			2,241,212						2,435,858						2,240,441						2,308,617						2,321,908						(8.0)		%				(3.5)		%
Total interest-bearing deposits			8,186,367						7,912,217						7,566,301						7,549,118						7,607,714						3.5		%				7.6		%
Noninterest-bearing			3,515,048						2,723,341						2,643,928						2,534,739						2,501,290						29.1		%				40.5		%
Total deposits			11,701,415						10,635,558						10,210,229						10,083,857						10,109,004						10.0		%				15.8		%
Federal funds purchased and securities sold
under agreements to repurchase			154,347						215,824						165,181						85,286						260,621						(28.5)		%				(40.8)		%
FHLB short-term borrowings			0						1,181,900						1,151,000						1,128,900						1,052,700						(100.0)		%				(100.0)		%
Total short-term borrowings			154,347						1,397,724						1,316,181						1,214,186						1,313,321						(89.0)		%				(88.2)		%
Long-term debt			1,285,767						325,566						414,376						498,778						547,042						294.9		%				135.0		%
Total borrowed funds			1,440,114						1,723,290						1,730,557						1,712,964						1,860,363						(16.4)		%				(22.6)		%
Accrued interest and other liabilities			508,342						519,336						323,134						422,311						280,107						(2.1)		%				81.5		%
Total Liabilities			13,649,871						12,878,184						12,263,920						12,219,132						12,249,474						6.0		%				11.4		%
SHAREHOLDERS' EQUITY
Common stock			1,635,070						1,633,950						1,640,771						1,639,333						1,623,699						0.1		%				0.7		%
Retained earnings			675,532						660,653						711,249						685,368						657,730						2.3		%				2.7		%
Accumulated other comprehensive income (loss)			36,431						11,788						13,323						15,450						5,193						209.1		%				601.5		%
Treasury stock, at cost			(126,014)						(127,008)						(117,638)						(78,838)						(98,433)						(0.8)		%				28.0		%
Total Shareholders' Equity			2,221,019						2,179,383						2,247,705						2,261,313						2,188,189						1.9		%				1.5		%
Total Liabilities and Shareholders' Equity			$	15,870,890					$	15,057,567					$	14,511,625					$	14,480,445					$	14,437,663					5.4		%				9.9		%
(1) Beginning January 1,2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on the incurred loss methodology.

6

FIRST FINANCIAL BANCORP.
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
			Quarterly Averages																																																						Year-to-Date Averages
			June 30,						Mar. 31,						Dec. 31,						Sep. 30,						June 30,						June 30,
			2020						2020						2019						2019						2019						2020						2019
ASSETS
Cash and due from banks			$	284,726					$	235,696					$	221,060					$	191,000					$	173,278					$	260,211					$	177,463
Interest-bearing deposits with other banks			91,990						39,332						36,672						38,569						33,255						65,661						33,978
Investment securities			3,164,243						3,115,723						3,102,867						3,290,666						3,408,994						3,139,983						3,382,510
Loans held for sale			36,592						13,174						21,050						18,197						13,258						24,883						9,844
Loans and leases
Commercial and industrial			3,058,677						2,450,893						2,469,810						2,509,782						2,533,981						2,754,785						2,521,696
Lease financing			81,218						85,782						91,225						94,858						94,458						83,500						92,760
Construction real estate			495,407						501,471						501,892						509,742						457,962						498,439						476,952
Commercial real estate			4,381,647						4,209,345						4,102,288						3,925,028						3,834,404						4,295,496						3,798,558
Residential real estate			1,052,996						1,055,456						1,053,707						1,035,975						989,923						1,054,226						975,832
Home equity			772,424						773,082						773,119						781,340						789,087						772,753						798,376
Installment			79,016						81,234						85,515						88,760						89,778						80,125						90,520
Credit card			44,402						50,206						50,616						50,410						49,811						47,304						48,668
Total loans			9,965,787						9,207,469						9,128,172						8,995,895						8,839,404						9,586,628						8,803,362
Less:
Allowance for credit losses (1)			155,454						121,126						56,649						61,911						58,335						138,290						57,715
Net loans			9,810,333						9,086,343						9,071,523						8,933,984						8,781,069						9,448,338						8,745,647
Premises and equipment			213,903						215,545						215,171						215,671						211,714						214,724						212,457
Goodwill			937,771						937,771						937,710						899,888						879,726						937,771						879,137
Other intangibles			72,086						75,014						78,190						51,365						37,666						73,550						38,777
Accrued interest and other assets			1,098,560						805,824						776,045						681,174						563,773						952,192						548,245
Total Assets			$	15,710,204					$	14,524,422					$	14,460,288					$	14,320,514					$	14,102,733					$	15,117,313					$	14,028,058
LIABILITIES
Deposits
Interest-bearing demand			$	2,602,917					$	2,418,193					$	2,373,962					$	2,325,405					$	2,334,322					$	2,510,555					$	2,302,313
Savings			3,173,274						2,976,518						2,995,395						2,945,076						3,057,100						3,074,896						3,086,167
Time			2,619,038						2,196,080						2,214,174						2,234,227						2,220,724						2,407,559						2,222,645
Total interest-bearing deposits			8,395,229						7,590,791						7,583,531						7,504,708						7,612,146						7,993,010						7,611,125
Noninterest-bearing			3,335,866						2,643,240						2,638,908						2,513,458						2,484,214						2,989,553						2,470,974
Total deposits			11,731,095						10,234,031						10,222,439						10,018,166						10,096,360						10,982,563						10,082,099
Federal funds purchased and securities sold
under agreements to repurchase			145,291						164,093						206,800						185,156						126,872						154,692						115,075
FHLB short-term borrowings			548,183						1,189,765						952,625						1,112,091						982,993						868,974						948,674
Total short-term borrowings			693,474						1,353,858						1,159,425						1,297,247						1,109,865						1,023,666						1,063,749
Long-term debt			579,345						381,909						454,271						519,736						546,705						480,627						558,262
Total borrowed funds			1,272,819						1,735,767						1,613,696						1,816,983						1,656,570						1,504,293						1,622,011
Accrued interest and other liabilities			520,425						344,891						379,046						275,038						202,806						432,658						203,186
Total Liabilities			13,524,339						12,314,689						12,215,181						12,110,187						11,955,736						12,919,514						11,907,296
SHAREHOLDERS' EQUITY
Common stock			1,634,405						1,638,851						1,640,066						1,629,286						1,622,994						1,636,628						1,624,105
Retained earnings			658,312						660,108						691,236						662,899						635,629						659,210						623,252
Accumulated other comprehensive loss			19,888						31,200						13,986						11,985						(12,889)						25,544						(26,268)
Treasury stock, at cost			(126,740)						(120,426)						(100,181)						(93,843)						(98,737)						(123,583)						(100,327)
Total Shareholders' Equity			2,185,865						2,209,733						2,245,107						2,210,327						2,146,997						2,197,799						2,120,762
Total Liabilities and Shareholders' Equity			$	15,710,204					$	14,524,422					$	14,460,288					$	14,320,514					$	14,102,733					$	15,117,313					$	14,028,058
(1) Beginning January 1,2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on the incurred loss methodology.

7

FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE/VOLUME ANALYSIS
(Dollars in thousands)
(Unaudited)
						Quarterly Averages																																																																																																			Year-to-Date Averages
						June 30, 2020																		March 31, 2020																		June 30, 2019																																																			June 30, 2020																		June 30, 2019
						Balance						Yield						Balance						Yield						Balance						Yield																																							Balance						Yield						Balance						Yield
Earning assets
Investments:
Investment securities						$	3,164,243					2.97		%				$	3,115,723					3.04		%				$	3,408,994					3.29		%																																					$	3,139,983					3.02		%				$	3,382,510					3.37		%
Interest-bearing deposits with other banks						91,990						0.20		%				39,332						1.45		%				33,255						2.48		%																																					65,661						0.58		%				33,978						2.47		%
Gross loans (1)						10,002,379						4.25		%				9,220,643						5.04		%				8,852,662						5.73		%																																					9,611,511						4.65		%				8,813,206						5.71		%
Total earning assets						13,258,612						3.91		%				12,375,698						4.52		%				12,294,911						5.04		%																																					12,817,155						4.23		%				12,229,694						5.05		%
Nonearning assets
Allowance for credit losses						(155,454)												(121,126)												(58,335)																																													(138,290)												(57,715)
Cash and due from banks						284,726												235,696												173,278																																													260,211												177,463
Accrued interest and other assets						2,322,320												2,034,154												1,692,879																																													2,178,237												1,678,616
Total assets						$	15,710,204											$	14,524,422											$	14,102,733																																												$	15,117,313											$	14,028,058
Interest-bearing liabilities
Deposits:
Interest-bearing demand						$	2,602,917					0.11		%				$	2,418,193					0.45		%				$	2,334,322					0.60		%																																					$	2,510,555					0.27		%				$	2,302,313					0.55		%
Savings						3,173,274						0.17		%				2,976,518						0.45		%				3,057,100						0.78		%																																					3,074,896						0.31		%				3,086,167						0.77		%
Time						2,619,038						1.49		%				2,196,080						1.88		%				2,220,724						2.02		%																																					2,407,559						1.68		%				2,222,645						1.98		%
Total interest-bearing deposits						8,395,229						0.56		%				7,590,791						0.86		%				7,612,146						1.09		%																																					7,993,010						0.71		%				7,611,125						1.06		%
Borrowed funds
Short-term borrowings						693,474						0.74		%				1,353,858						1.51		%				1,109,865						2.40		%																																					1,023,666						1.25		%				1,063,749						2.39		%
Long-term debt						579,345						3.29		%				381,909						3.96		%				546,705						3.64		%																																					480,627						3.58		%				558,262						3.61		%
Total borrowed funds						1,272,819						1.90		%				1,735,767						2.05		%				1,656,570						2.81		%																																					1,504,293						2.00		%				1,622,011						2.81		%
Total interest-bearing liabilities						9,668,048						0.74		%				9,326,558						1.08		%				9,268,716						1.39		%																																					9,497,303						0.91		%				9,233,136						1.36		%
Noninterest-bearing liabilities
Noninterest-bearing demand deposits						3,335,866												2,643,240												2,484,214																																													2,989,553												2,470,974
Other liabilities						520,425												344,891												202,806																																													432,658												203,186
Shareholders' equity						2,185,865												2,209,733												2,146,997																																													2,197,799												2,120,762
Total liabilities & shareholders' equity						$	15,710,204											$	14,524,422											$	14,102,733																																												$	15,117,313											$	14,028,058
Net interest income						$	111,576											$	114,282											$	122,302																																												$	225,858											$	243,817
Net interest spread												3.17		%										3.44		%										3.65		%																																											3.32		%										3.69		%
Net interest margin												3.38		%										3.71		%										3.99		%																																											3.54		%										4.02		%
Tax equivalent adjustment												0.06		%										0.06		%										0.05		%																																											0.06		%										0.05		%
Net interest margin (fully tax equivalent)												3.44		%										3.77		%										4.04		%																																											3.60		%										4.07		%
(1) Loans held for sale and nonaccrual loans are included in gross loans.

8

FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE/VOLUME ANALYSIS (1)
(Dollars in thousands)
(Unaudited)
						Linked Qtr. Income Variance																																	Comparable Qtr. Income Variance																														Year-to-Date Income Variance
						Rate									Volume						Total						Rate						Volume						Total						Rate						Volume						Total
Earning assets
Investment securities						$	(533)								$	359					$	(174)					$	(2,728)					$	(1,811)					$	(4,539)					$	(5,815)					$	(3,630)					$	(9,445)
Interest-bearing deposits with other banks						(122)									27						(95)						(189)						30						(159)						(318)						91						(227)
Gross loans (2)						(18,152)									8,277						(9,875)						(32,638)						12,173						(20,465)						(46,158)						18,412						(27,746)
Total earning assets						(18,807)									8,663						(10,144)						(35,555)						10,392						(25,163)						(52,291)						14,873						(37,418)
Interest-bearing liabilities
Total interest-bearing deposits						$	(5,740)								$	1,126					$	(4,614)					$	(9,957)					$	1,096					$	(8,861)					$	(13,082)					$	1,343					$	(11,739)
Borrowed funds
Short-term borrowings						(2,600)									(1,213)						(3,813)						(4,607)						(765)						(5,372)						(5,996)						(249)						(6,245)
Long-term debt						(633)									1,622						989						(472)						268						(204)						(97)						(1,378)						(1,475)
Total borrowed funds						(3,233)									409						(2,824)						(5,079)						(497)						(5,576)						(6,093)						(1,627)						(7,720)
Total interest-bearing liabilities						(8,973)									1,535						(7,438)						(15,036)						599						(14,437)						(19,175)						(284)						(19,459)
Net interest income (1)						$	(9,834)								$	7,128					$	(2,706)					$	(20,519)					$	9,793					$	(10,726)					$	(33,116)					$	15,157					$	(17,959)
(1) Not tax equivalent.
(2) Loans held for sale and nonaccrual loans are included in gross loans.

9

FIRST FINANCIAL BANCORP.
CREDIT QUALITY
(Dollars in thousands)
(Unaudited)
																																	Six months ended
			June 30,						Mar. 31,						Dec. 31,						Sep. 30,						June 30,						June 30,						June 30,
			2020						2020						2019						2019						2019						2020						2019
ALLOWANCE FOR CREDIT LOSS ACTIVITY
Balance at beginning of period			$	143,885					$	57,650					$	56,552					$	61,549					$	56,722					$	57,650					$	56,542
Day one adoption impact of ASC 326			0						61,505						0						0						0						61,505						0
Provision for credit losses			17,859						23,880						4,629						5,228						6,658						41,739						20,741
Gross charge-offs
Commercial and industrial			1,282						1,091						2,919						9,556						1,873						2,373						14,201
Lease financing			0						0						62						0						0						0						100
Construction real estate			0						0						0						0						0						0						0
Commercial real estate			2,037						4						1,854						535						86						2,041						1,300
Residential real estate			148						115						167						278						150						263						232
Home equity			428						267						807						627						689						695						1,157
Installment			7						61						31						65						78						68						127
Credit card			234						311						319						598						289						545						630
Total gross charge-offs			4,136						1,849						6,159						11,659						3,165						5,985						17,747
Recoveries
Commercial and industrial			275						2,000						1,796						556						291						2,275						531
Lease financing			0						0						0						0						0						0						0
Construction real estate			14						0						0						0						5						14						68
Commercial real estate			424						234						439						347						254						658						327
Residential real estate			93						52						72						64						101						145						137
Home equity			156						339						243						335						572						495						757
Installment			27						31						49						93						61						58						109
Credit card			64						43						29						39						50						107						84
Total recoveries			1,053						2,699						2,628						1,434						1,334						3,752						2,013
Total net charge-offs			3,083						(850)						3,531						10,225						1,831						2,233						15,734
Ending allowance for credit losses			$	158,661					$	143,885					$	57,650					$	56,552					$	61,549					$	158,661					$	61,549
NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)
Commercial and industrial			0.13		%				(0.15)		%				0.18		%				1.42		%				0.25		%				0.01		%				1.09		%
Lease financing			0.00		%				0.00		%				0.27		%				0.00		%				0.00		%				0.00		%				0.22		%
Construction real estate			(0.01)		%				0.00		%				0.00		%				0.00		%				0.00		%				(0.01)		%				(0.03)		%
Commercial real estate			0.15		%				(0.02)		%				0.14		%				0.02		%				(0.02)		%				0.06		%				0.05		%
Residential real estate			0.02		%				0.02		%				0.04		%				0.08		%				0.02		%				0.02		%				0.02		%
Home equity			0.14		%				(0.04)		%				0.29		%				0.15		%				0.06		%				0.05		%				0.10		%
Installment			(0.10)		%				0.15		%				(0.08)		%				(0.13)		%				0.08		%				0.03		%				0.04		%
Credit card			1.54		%				2.15		%				2.27		%				4.40		%				1.92		%				1.86		%				2.26		%
Total net charge-offs			0.12		%				(0.04)		%				0.15		%				0.45		%				0.08		%				0.05		%				0.36		%
COMPONENTS OF NONPERFORMING LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans (1)
Commercial and industrial			$	33,906					$	21,126					$	24,346					$	28,358					$	18,502					$	33,906					$	18,502
Lease financing			1,353						222						223						284						295						1,353						295
Construction real estate			0						0						0						5						6						0						6
Commercial real estate			14,002						10,050						7,295						14,889						15,981						14,002						15,981
Residential real estate			12,813						11,163						10,892						11,655						11,627						12,813						11,627
Home equity			5,604						5,821						5,242						5,427						4,745						5,604						4,745
Installment			201						145						167						75						195						201						195
Nonaccrual loans			67,879						48,527						48,165						60,693						51,351						67,879						51,351
Accruing troubled debt restructurings (TDRs)			8,377						22,206						11,435						18,450						37,420						8,377						37,420
Total nonperforming loans			76,256						70,733						59,600						79,143						88,771						76,256						88,771
Other real estate owned (OREO)			1,872						1,467						2,033						1,613						1,421						1,872						1,421
Total nonperforming assets			78,128						72,200						61,633						80,756						90,192						78,128						90,192
Accruing loans past due 90 days or more			124						120						201						287						107						124						107
Total underperforming assets			$	78,252					$	72,320					$	61,834					$	81,043					$	90,299					$	78,252					$	90,299
Total classified assets			$	125,543					$	124,510					$	89,250					$	132,500					$	147,753					$	125,543					$	147,753
CREDIT QUALITY RATIOS
Allowance for credit losses to
Nonaccrual loans			233.74		%				296.51		%				119.69		%				93.18		%				119.86		%				233.74		%				119.86		%
Nonperforming loans			208.06		%				203.42		%				96.73		%				71.46		%				69.33		%				208.06		%				69.33		%
Total ending loans			1.56		%				1.55		%				0.63		%				0.62		%				0.69		%				1.56		%				0.69		%
Nonperforming loans to total loans			0.75		%				0.76		%				0.65		%				0.87		%				0.99		%				0.75		%				0.99		%
Nonperforming assets to
Ending loans, plus OREO			0.77		%				0.78		%				0.67		%				0.89		%				1.00		%				0.77		%				1.00		%
Total assets			0.49		%				0.48		%				0.42		%				0.56		%				0.62		%				0.49		%				0.62		%
Nonperforming assets, excluding accruing TDRs to
Ending loans, plus OREO			0.68		%				0.54		%				0.55		%				0.69		%				0.59		%				0.68		%				0.59		%
Total assets			0.44		%				0.33		%				0.35		%				0.43		%				0.37		%				0.44		%				0.37		%
Classified assets to total assets			0.79		%				0.83		%				0.62		%				0.92		%				1.02		%				0.79		%				1.02		%
(1) Nonaccrual loans include nonaccrual TDRs of $32.7 million, $18.4 million, $18.5 million, $21.5 million, and $11.0 million, as of June 30, 2020, March 31, 2020, December 31, 2019, September 30, 2019, and June 30, 2019, respectively.

10

FIRST FINANCIAL BANCORP.
CAPITAL ADEQUACY
(Dollars in thousands, except per share data)
(Unaudited)
																																	Six months ended,
			June 30,						Mar. 31,						Dec. 31,						Sep. 30,						June 30,						June 30,						June 30,
			2020						2020						2019						2019						2019						2020						2019
PER COMMON SHARE
Market Price
High			$	16.38					$	25.52					$	26.04					$	25.49					$	25.80					$	25.52					$	28.56
Low			$	11.52					$	12.67					$	23.24					$	22.37					$	22.16					$	11.52					$	22.16
Close			$	13.89					$	14.91					$	25.44					$	24.48					$	24.22					$	13.89					$	24.22
Average shares outstanding - basic			97,220,748						97,736,690						98,684,706						98,517,025						98,083,799						97,478,719						98,005,379
Average shares outstanding - diluted			97,988,600						98,356,214						99,232,167						99,077,723						98,648,384						98,172,408						98,542,947
Ending shares outstanding			98,018,858						97,968,958						98,490,998						100,094,819						98,647,690						98,018,858						98,647,690
Total shareholders' equity			$	2,221,019					$	2,179,383					$	2,247,705					$	2,261,313					$	2,188,189					$	2,221,019					$	2,188,189
REGULATORY CAPITAL			Preliminary																														Preliminary
Common equity tier 1 capital			$	1,267,609					$	1,243,152					$	1,245,746					$	1,253,803					$	1,281,406					$	1,267,609					$	1,281,406
Common equity tier 1 capital ratio			11.44		%				11.27		%				11.30		%				11.52		%				12.00		%				11.44		%				12.00		%
Tier 1 capital			$	1,310,276					$	1,285,705					$	1,288,185					$	1,296,399					$	1,323,905					$	1,310,276					$	1,323,905
Tier 1 ratio			11.83		%				11.66		%				11.69		%				11.91		%				12.40		%				11.83		%				12.40		%
Total capital			$	1,676,532					$	1,493,100					$	1,475,813					$	1,482,708					$	1,515,382					$	1,676,532					$	1,515,382
Total capital ratio			15.13		%				13.54		%				13.39		%				13.62		%				14.20		%				15.13		%				14.20		%
Total capital in excess of minimum requirement			$	513,267					$	335,229					$	318,315					$	339,935					$	394,571					$	513,267					$	394,571
Total risk-weighted assets			$	11,078,714					$	11,027,347					$	11,023,795					$	10,883,554					$	10,674,393					$	11,078,714					$	10,674,393
Leverage ratio			8.98		%				9.49		%				9.58		%				9.75		%				10.02		%				8.98		%				10.02		%
OTHER CAPITAL RATIOS
Ending shareholders' equity to ending assets			13.99		%				14.47		%				15.49		%				15.62		%				15.16		%				13.99		%				15.16		%
Ending tangible shareholders' equity to ending tangible assets			8.09		%				8.25		%				9.07		%				9.17		%				9.34		%				8.09		%				9.34		%
Average shareholders' equity to average assets			13.91		%				15.21		%				15.53		%				15.43		%				15.22		%				14.54		%				15.12		%
Average tangible shareholders' equity to average tangible assets			7.94		%				8.79		%				9.07		%				9.35		%				9.26		%				8.34		%				9.11		%
REPURCHASE PROGRAM (1)
Shares repurchased			0						880,000						1,609,778						1,143,494						0						880,000						0
Average share repurchase price			N/A						$	18.96					$	24.13					$	23.94					N/A						$	18.96					N/A
Total cost of shares repurchased			N/A						$	16,686					$	38,846					$	27,372					N/A						$	16,686					N/A
(1) Represents share repurchases as part of publicly announced plans.
N/A = Not applicable

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