Exhibit 99.1

First Financial Bancorp Announces First Quarter 2024

Financial Results and Quarterly Dividend

•Earnings per diluted share of $0.53; $0.59 on an adjusted(1) basis

•Return on average assets of 1.18%; 1.30% on an adjusted(1) basis

•Net interest margin on FTE basis(1) of 4.10%

•Acquired Agile Premium Finance

•Loan growth of $271.9 million; 10.0% on an annualized basis

•Tangible common equity ratio increased to 7.23%

•Quarterly dividend of $0.23 approved by Board of Directors

Cincinnati, Ohio - April 25, 2024. First Financial Bancorp. (Nasdaq: FFBC) (“First Financial” or the “Company”) announced financial results for the three months ended March 31, 2024.

For the three months ended March 31, 2024, the Company reported net income of $50.7 million, or $0.53 per diluted common share. These results compare to net income of $56.7 million, or $0.60 per diluted common share, for the fourth quarter of 2023.

Return on average assets for the first quarter of 2024 was 1.18% while return on average tangible common equity was 17.35%(1). These compare to return on average assets of 1.31% and return on average tangible common equity of 21.36%(1) in the fourth quarter of 2023.

First quarter 2024 highlights include:

•Net interest margin of 4.05%, or 4.10% on a fully tax-equivalent basis(1)

◦16 bp decrease to 4.10% from 4.26% in the fourth quarter due to increasing funding costs

◦Decline from linked quarter driven by 19 bp increase in funding costs, which was partially offset by modestly higher asset yields

•Noninterest income of $46.5 million, or $51.7 million as adjusted(1)

◦Strong leasing business income of $14.6 million

◦Wealth management continues strong performance; 9.6% increase from linked quarter

◦Foreign exchange and client derivative fees improved from lower levels in fourth quarter

◦Adjusted(1) $5.2 million for losses on sales of investment securities related to repositioning of a portion of the portfolio

•Noninterest expenses of $122.4 million, or $121.0 million as adjusted(1)

◦Increase from fourth quarter driven by seasonal payroll taxes and increased variable compensation tied to fee income

◦First quarter adjustments(1) include $0.2 million FDIC special assessment and $1.1 million of other costs such as acquisition, severance and branch consolidation costs

◦Efficiency ratio of 62.7%; 60.4% as adjusted(1)

•Acquired Agile Premium Finance on February 29, 2024

◦Lends primarily to commercial customers to finance insurance premiums

◦$93.4 million in loan balances at acquisition; $119.0 million at March 31, 2024

◦$5.6 million of intangible assets, including $1.8 million of goodwill and $2.7 million customer list

_________________________________________________________________________________________

(1) Non-GAAP measure. 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.

•Solid loan growth during the quarter

◦Loan balances increased $271.9 million compared to the linked quarter; includes $93.4 million acquired in Agile transaction

◦Growth of 10.0% on an annualized basis driven by Investor CRE and acquisition of Agile

•Modest average deposit growth during the quarter

◦Average deposits increased $76.3 million, or 2.3% on an annualized basis; First quarter included approximately $100 million of seasonal business deposit outflows

◦Growth in money market accounts and retail CDs offset declines in noninterest bearing checking, savings and public funds

•Total Allowance for Credit Losses of $160.4 million; Total quarterly provision expense of $11.2 million

◦Loans and leases - ACL of $144.3 million; ratio to total loans of 1.29% unchanged from fourth quarter

◦Unfunded Commitments - ACL of $16.2 million; decreased $2.3 million from linked quarter

◦Provision expense driven by net charge-offs and loan growth; Classified assets increased to $162.3 million

◦Annualized net charge-offs were 38 bps of total loans; 8 bps decline from linked quarter

◦NPAs to total assets of 0.34%; 4 bp, or 10.5% decline from linked quarter

•Capital ratios stable and strong

◦Total capital ratio increased 5 bps to 14.31%

◦Tier 1 common equity decreased 6 bps to 11.67%

◦Tangible common equity increased 6 bps to 7.23%(1); 9.18%(1) excluding impact from AOCI

◦Tangible book value per share of $12.50(1);1.0% increase from linked quarter

Additionally, the board of directors approved a quarterly dividend of $0.23 per common share for the next regularly scheduled dividend, payable on June 17, 2024 to shareholders of record as of June 3, 2024.

Archie Brown, President and CEO, commented on the quarter, “I am pleased with our first quarter results and encouraged by our trends, several of which were bolstered by actions we took during the quarter. These actions included a repositioning of a portion of the investment portfolio, a workforce efficiency initiative, and the acquisition of Agile Premium Finance. We also commenced the restructuring of a portion of our bank owned life insurance portfolio, which is expected to increase income in the back half of the year.”

Mr. Brown continued, “Adjusted(1) earnings per share were $0.59, which resulted in an adjusted(1) return on assets of 1.30% and an adjusted(1) return on tangible common equity of 19.1%. At 4.10%, the net interest margin remains very strong. Asset yields remained steady during the quarter, however, as expected, the continued rise of funding costs negatively impacted our net interest margin. Additionally, loan growth was robust for the second consecutive quarter with balances increasing by 10% on an annualized basis. Average deposit growth slowed for the quarter to a 2.3% annualized growth rate and included a seasonal outflow of business deposits in the first part of the quarter.”

Mr. Brown continued, “I am also pleased that noninterest income rebounded from the fourth quarter with increases across most of our fee revenue areas. During the quarter, we incurred a loss on the sale of investment securities associated with the repositioning of a portion of the investment portfolio. This repositioning has a very short earnback and should enhance our asset yields going forward. We also intensified our focus on expenses during the first quarter. Our workforce efficiency initiative resulted in the reduction of 43 associates during the quarter and we will continue to evaluate additional expense reductions throughout 2024. While expenses increased on a linked quarter basis, most of the increase was related to seasonal employee costs and variable compensation tied to the increase in fee income.”

Mr. Brown discussed the Agile acquisition, “We are excited to add Agile to our mix of specialty businesses. Agile operates an impressive business model, which originates high-quality, short duration loans at attractive yields. At closing, we acquired $93 million in loans, which grew to $119 million at quarter end. We believe Agile will further diversify the loan portfolio and is a perfect complement to our Oak Street and commercial banking businesses.”

Mr. Brown commented on asset quality, “Asset quality was stable for the quarter. Net charge-offs declined for the second consecutive quarter to 38 basis points and were primarily driven by charges on two office loans that had been on nonaccrual since early 2023. These two loans have been charged down to their net realizable value and no other office loans were considered classified at the end of the first quarter. Overall, classified assets increased 12 basis points to 0.92% of assets, while nonperforming assets declined 9.8% from the prior quarter.”

Mr. Brown concluded, “I am pleased with our quarter and with the work our teams are doing to continuously improve the Company. While we are in a difficult operating environment for the industry, I am encouraged by our results and trends, and I expect we will have another strong year.”

Full detail of the Company’s first quarter 2024 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, April 26, 2024 at 8:30 a.m. Eastern Time. Members of the public who would like to listen to the conference call should dial (888) 550-5723 (U.S. toll free) or (646) 960-0471 (U.S. local), access code 5048068. The number should be dialed five to ten minutes prior to the start of the conference call. A replay of the conference call will be available beginning one hour after the completion of the live call at (800) 770-2030 (U.S. toll free), (647) 362-9199 (U.S. local), access code 5048068. The recording will be available until May 10, 2024. 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. 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.

Forward-Looking Statements

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;

•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 changes in housing prices, fluctuations in 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 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.

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, 2023, 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 March 31, 2024, the Company had $17.6 billion in assets, $11.2 billion in loans, $13.5 billion in deposits and $2.3 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 $3.6 billion in assets under management as of March 31, 2024. The Company operated 130 full service banking centers as of March 31, 2024, located in Ohio, Indiana, Kentucky and Illinois, 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

Selected Financial Information

March 31, 2024

(unaudited)

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

FIRST FINANCIAL BANCORP.
CONSOLIDATED FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share data)
(Unaudited)
			Three Months Ended,
			Mar. 31,						Dec. 31,						Sep. 30,						June 30,						Mar. 31,
			2024						2023						2023						2023						2023
RESULTS OF OPERATIONS
Net income			$	50,689					$	56,732					$	63,061					$	65,667					$	70,403
Net earnings per share - basic			$	0.54					$	0.60					$	0.67					$	0.70					$	0.75
Net earnings per share - diluted			$	0.53					$	0.60					$	0.66					$	0.69					$	0.74
Dividends declared per share			$	0.23					$	0.23					$	0.23					$	0.23					$	0.23
KEY FINANCIAL RATIOS
Return on average assets			1.18		%				1.31		%				1.48		%				1.55		%				1.69		%
Return on average shareholders' equity			9.00		%				10.50		%				11.62		%				12.32		%				13.71		%
Return on average tangible shareholders' equity (1)			17.35		%				21.36		%				23.60		%				25.27		%				29.02		%
Net interest margin			4.05		%				4.21		%				4.28		%				4.43		%				4.51		%
Net interest margin (fully tax equivalent) (1)(2)			4.10		%				4.26		%				4.33		%				4.48		%				4.55		%
Ending shareholders' equity as a percent of ending assets			12.99		%				12.94		%				12.49		%				12.54		%				12.53		%
Ending tangible shareholders' equity as a percent of:
Ending tangible assets (1)			7.23		%				7.17		%				6.50		%				6.56		%				6.47		%
Risk-weighted assets (1)			8.80		%				8.81		%				7.88		%				8.03		%				7.87		%
Average shareholders' equity as a percent of average assets			13.09		%				12.52		%				12.70		%				12.60		%				12.29		%
Average tangible shareholders' equity as a percent of
average tangible assets (1)			7.25		%				6.57		%				6.69		%				6.57		%				6.21		%
Book value per share			$	23.95					$	23.84					$	22.39					$	22.52					$	22.29
Tangible book value per share (1)			$	12.50					$	12.38					$	10.91					$	11.02					$	10.76
Common equity tier 1 ratio (3)			11.67		%				11.73		%				11.60		%				11.34		%				11.00		%
Tier 1 ratio (3)			12.00		%				12.06		%				11.94		%				11.68		%				11.34		%
Total capital ratio (3)			14.31		%				14.26		%				14.19		%				14.16		%				13.79		%
Leverage ratio (3)			9.75		%				9.70		%				9.59		%				9.33		%				9.03		%
AVERAGE BALANCE SHEET ITEMS
Loans (4)			$	11,066,184					$	10,751,028					$	10,623,734					$	10,513,505					$	10,373,302
Investment securities			3,137,665						3,184,408						3,394,237						3,560,453						3,635,317
Interest-bearing deposits with other banks			553,654						548,153						386,173						329,584						318,026
Total earning assets			$	14,757,503					$	14,483,589					$	14,404,144					$	14,403,542					$	14,326,645
Total assets			$	17,306,221					$	17,124,955					$	16,951,389					$	16,968,055					$	16,942,999
Noninterest-bearing deposits			$	3,169,750					$	3,368,024					$	3,493,305					$	3,663,419					$	3,954,915
Interest-bearing deposits			10,109,416						9,834,819						9,293,860						9,050,464						8,857,226
Total deposits			$	13,279,166					$	13,202,843					$	12,787,165					$	12,713,883					$	12,812,141
Borrowings			$	1,139,014					$	1,083,954					$	1,403,071					$	1,523,699					$	1,434,338
Shareholders' equity			$	2,265,562					$	2,144,482					$	2,153,601					$	2,137,765					$	2,082,210
CREDIT QUALITY RATIOS
Allowance to ending loans			1.29		%				1.29		%				1.36		%				1.41		%				1.36		%
Allowance to nonaccrual loans			243.55		%				215.10		%				193.75		%				276.70		%				409.46		%
Nonaccrual loans to total loans			0.53		%				0.60		%				0.70		%				0.51		%				0.33		%
Nonperforming assets to ending loans, plus OREO			0.53		%				0.60		%				0.71		%				0.51		%				0.33		%
Nonperforming assets to total assets			0.34		%				0.38		%				0.44		%				0.32		%				0.21		%
Classified assets to total assets			0.92		%				0.80		%				0.82		%				0.81		%				0.94		%
Net charge-offs to average loans (annualized)			0.38		%				0.46		%				0.61		%				0.22		%				0.00		%

(1) Non-GAAP measure. 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.

(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 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.

(3) March 31, 2024 regulatory capital ratios are preliminary.

(4) Includes loans held for sale.

2

FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
			2024						2023
			First						Fourth						Third						Second						First						Full
			Quarter						Quarter						Quarter						Quarter						Quarter						Year
Interest income
Loans and leases, including fees			$	201,840					$	197,416					$	192,261					$	184,387					$	169,706					$	743,770
Investment securities
Taxable			28,296						30,294						31,297						32,062						31,867						125,520
Tax-exempt			3,092						3,402						3,522						3,513						3,464						13,901
Total investment securities interest			31,388						33,696						34,819						35,575						35,331						139,421
Other earning assets			7,458						7,325						5,011						3,933						3,544						19,813
Total interest income			240,686						238,437						232,091						223,895						208,581						903,004
Interest expense
Deposits			76,075						69,193						57,069						44,292						31,456						202,010
Short-term borrowings			10,943						10,277						14,615						15,536						12,950						53,378
Long-term borrowings			4,928						5,202						4,952						4,835						4,857						19,846
Total interest expense			91,946						84,672						76,636						64,663						49,263						275,234
Net interest income			148,740						153,765						155,455						159,232						159,318						627,770
Provision for credit losses-loans and leases			13,419						8,804						12,907						12,719						8,644						43,074
Provision for credit losses-unfunded commitments			(2,259)						1,426						(1,234)						(1,994)						1,835						33
Net interest income after provision for credit losses			137,580						143,535						143,782						148,507						148,839						584,663
Noninterest income
Service charges on deposit accounts			6,912						6,846						6,957						6,972						6,514						27,289
Wealth management fees			6,676						6,091						6,943						6,713						6,334						26,081
Bankcard income			3,142						3,349						3,406						3,692						3,592						14,039
Client derivative fees			1,250						711						1,612						1,827						1,005						5,155
Foreign exchange income			10,435						8,730						13,384						15,039						16,898						54,051
Leasing business income			14,589						12,856						14,537						10,265						13,664						51,322
Net gains from sales of loans			3,784						2,957						4,086						3,839						2,335						13,217
Net gain (loss) on sale of investment securities			(5,277)						(851)						(4)						(384)						(19)						(1,258)
Net gain (loss) on equity securities			90						202						(54)						(82)						140						206
Other			4,911						6,102						5,761						5,377						5,080						22,320
Total noninterest income			46,512						46,993						56,628						53,258						55,543						212,422
Noninterest expenses
Salaries and employee benefits			74,037						70,637						75,641						74,199						72,254						292,731
Net occupancy			5,923						5,890						5,809						5,606						5,685						22,990
Furniture and equipment			3,688						3,523						3,341						3,362						3,317						13,543
Data processing			8,305						8,488						8,473						9,871						9,020						35,852
Marketing			1,962						2,087						2,598						2,802						2,160						9,647
Communication			795						707						744						644						634						2,729
Professional services			2,268						3,148						2,524						2,308						1,946						9,926
State intangible tax			877						984						981						964						985						3,914
FDIC assessments			2,780						3,651						2,665						2,806						2,826						11,948
Intangible amortization			2,301						2,601						2,600						2,601						2,600						10,402
Leasing business expense			9,754						8,955						8,877						6,730						7,938						32,500
Other			9,665						8,466						7,791						8,722						7,328						32,307
Total noninterest expenses			122,355						119,137						122,044						120,615						116,693						478,489
Income before income taxes			61,737						71,391						78,366						81,150						87,689						318,596
Income tax expense (benefit)			11,048						14,659						15,305						15,483						17,286						62,733
Net income			$	50,689					$	56,732					$	63,061					$	65,667					$	70,403					$	255,863
ADDITIONAL DATA
Net earnings per share - basic			$	0.54					$	0.60					$	0.67					$	0.70					$	0.75					$	2.72
Net earnings per share - diluted			$	0.53					$	0.60					$	0.66					$	0.69					$	0.74					$	2.69
Dividends declared per share			$	0.23					$	0.23					$	0.23					$	0.23					$	0.23					$	0.92
Return on average assets			1.18		%				1.31		%				1.48		%				1.55		%				1.69		%				1.51		%
Return on average shareholders' equity			9.00		%				10.50		%				11.62		%				12.32		%				13.71		%				12.01		%
Interest income			$	240,686					$	238,437					$	232,091					$	223,895					$	208,581					$	903,004
Tax equivalent adjustment			1,535						1,672						1,659						1,601						1,424						6,356
Interest income - tax equivalent			242,221						240,109						233,750						225,496						210,005						909,360
Interest expense			91,946						84,672						76,636						64,663						49,263						275,234
Net interest income - tax equivalent			$	150,275					$	155,437					$	157,114					$	160,833					$	160,742					$	634,126
Net interest margin			4.05		%				4.21		%				4.28		%				4.43		%				4.51		%				4.36		%
Net interest margin (fully tax equivalent) (1)			4.10		%				4.26		%				4.33		%				4.48		%				4.55		%				4.40		%
Full-time equivalent employees			2,116						2,129						2,121						2,193						2,066
(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 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 STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
			Mar. 31,						Dec. 31,						Sep. 30,						June 30,						Mar. 31,						% Change						% Change
			2024						2023						2023						2023						2023						Linked Qtr.						Comp Qtr.
ASSETS
Cash and due from banks			$	199,407					$	213,059					$	220,335					$	217,385					$	199,835					(6.4)		%				(0.2)		%
Interest-bearing deposits with other banks			751,290						792,960						452,867						485,241						305,465						(5.3)		%				145.9		%
Investment securities available-for-sale			2,850,667						3,021,126						3,044,361						3,249,404						3,384,949						(5.6)		%				(15.8)		%
Investment securities held-to-maturity			79,542						80,321						81,236						82,372						83,070						(1.0)		%				(4.2)		%
Other investments			125,548						129,945						133,725						141,892						143,606						(3.4)		%				(12.6)		%
Loans held for sale			11,534						9,213						12,391						15,267						9,280						25.2		%				24.3		%
Loans and leases
Commercial and industrial			3,591,428						3,501,221						3,420,873						3,433,162						3,449,289						2.6		%				4.1		%
Lease financing			492,862						474,817						399,973						360,801						273,898						3.8		%				79.9		%
Construction real estate			641,596						564,832						578,824						536,464						525,906						13.6		%				22.0		%
Commercial real estate			4,145,969						4,080,939						3,992,654						4,048,460						4,056,627						1.6		%				2.2		%
Residential real estate			1,344,677						1,333,674						1,293,470						1,221,484						1,145,069						0.8		%				17.4		%
Home equity			773,811						758,676						743,991						728,711						724,672						2.0		%				6.8		%
Installment			153,838						159,078						160,648						165,216						204,372						(3.3)		%				(24.7)		%
Credit card			60,939						59,939						56,386						55,911						53,552						1.7		%				13.8		%
Total loans			11,205,120						10,933,176						10,646,819						10,550,209						10,433,385						2.5		%				7.4		%
Less:
Allowance for credit losses			(144,274)						(141,433)						(145,201)						(148,646)						(141,591)						2.0		%				1.9		%
Net loans			11,060,846						10,791,743						10,501,618						10,401,563						10,291,794						2.5		%				7.5		%
Premises and equipment			198,428						194,740						192,572						192,077						188,959						1.9		%				5.0		%
Operating leases			161,473						153,214						136,883						132,272						153,986						5.4		%				4.9		%
Goodwill			1,007,656						1,005,868						1,005,868						1,005,828						1,005,738						0.2		%				0.2		%
Other intangibles			85,603						83,949						86,378						88,662						91,169						2.0		%				(6.1)		%
Accrued interest and other assets			1,067,244						1,056,762						1,186,618						1,078,186						1,076,033						1.0		%				(0.8)		%
Total Assets			$	17,599,238					$	17,532,900					$	17,054,852					$	17,090,149					$	16,933,884					0.4		%				3.9		%
LIABILITIES
Deposits
Interest-bearing demand			$	2,916,518					$	2,993,219					$	2,880,617					$	2,919,472					$	2,761,811					(2.6)		%				5.6		%
Savings			4,467,894						4,331,228						4,023,455						3,785,445						3,746,403						3.2		%				19.3		%
Time			2,896,860						2,718,390						2,572,909						2,484,780						2,336,368						6.6		%				24.0		%
Total interest-bearing deposits			10,281,272						10,042,837						9,476,981						9,189,697						8,844,582						2.4		%				16.2		%
Noninterest-bearing			3,175,876						3,317,960						3,438,572						3,605,181						3,830,102						(4.3)		%				(17.1)		%
Total deposits			13,457,148						13,360,797						12,915,553						12,794,878						12,674,684						0.7		%				6.2		%
FHLB short-term borrowings			700,000						800,000						755,000						1,050,300						1,089,400						(12.5)		%				(35.7)		%
Other			162,145						137,814						219,188						165,983						128,160						17.7		%				26.5		%
Total short-term borrowings			862,145						937,814						974,188						1,216,283						1,217,560						(8.1)		%				(29.2)		%
Long-term debt			343,236						344,115						340,902						339,963						342,647						(0.3)		%				0.2		%
Total borrowed funds			1,205,381						1,281,929						1,315,090						1,556,246						1,560,207						(6.0)		%				(22.7)		%
Accrued interest and other liabilities			649,706						622,200						694,700						595,606						577,497						4.4		%				12.5		%
Total Liabilities			15,312,235						15,264,926						14,925,343						14,946,730						14,812,388						0.3		%				3.4		%
SHAREHOLDERS' EQUITY
Common stock			1,632,971						1,638,972						1,636,054						1,632,659						1,629,428						(0.4)		%				0.2		%
Retained earnings			1,166,065						1,136,718						1,101,905						1,060,715						1,016,893						2.6		%				14.7		%
Accumulated other comprehensive income (loss)			(321,109)						(309,819)						(410,005)						(353,010)						(328,059)						3.6		%				(2.1)		%
Treasury stock, at cost			(190,924)						(197,897)						(198,445)						(196,945)						(196,766)						(3.5)		%				(3.0)		%
Total Shareholders' Equity			2,287,003						2,267,974						2,129,509						2,143,419						2,121,496						0.8		%				7.8		%
Total Liabilities and Shareholders' Equity			$	17,599,238					$	17,532,900					$	17,054,852					$	17,090,149					$	16,933,884					0.4		%				3.9		%

4

FIRST FINANCIAL BANCORP.
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
			Quarterly Averages
			Mar. 31,						Dec. 31,						Sep. 30,						June 30,						Mar. 31,
			2024						2023						2023						2023						2023
ASSETS
Cash and due from banks			$	204,119					$	214,678					$	211,670					$	221,527					$	218,724
Interest-bearing deposits with other banks			553,654						548,153						386,173						329,584						318,026
Investment securities			3,137,665						3,184,408						3,394,237						3,560,453						3,635,317
Loans held for sale			12,069						12,547						15,420						11,856						5,531
Loans and leases
Commercial and industrial			3,543,475						3,422,381						3,443,615						3,469,683						3,456,681
Lease financing			480,540						419,179						371,598						323,819						252,219
Construction real estate			603,974						540,314						547,884						518,190						536,294
Commercial real estate			4,101,238						4,060,733						4,024,798						4,050,946						4,017,021
Residential real estate			1,336,749						1,320,670						1,260,249						1,181,053						1,115,889
Home equity			765,410						750,925						735,251						726,333						728,185
Installment			157,663						160,242						164,092						172,147						205,934
Credit card			65,066						64,037						60,827						59,478						55,548
Total loans			11,054,115						10,738,481						10,608,314						10,501,649						10,367,771
Less:
Allowance for credit losses			(143,950)						(149,398)						(150,297)						(145,578)						(136,419)
Net loans			10,910,165						10,589,083						10,458,017						10,356,071						10,231,352
Premises and equipment			198,482						194,435						194,228						190,583						190,346
Operating leases			154,655						139,331						132,984						138,725						107,092
Goodwill			1,006,477						1,005,870						1,005,844						1,005,791						1,005,713
Other intangibles			84,109						85,101						87,427						89,878						92,587
Accrued interest and other assets			1,044,826						1,151,349						1,065,389						1,063,587						1,138,311
Total Assets			$	17,306,221					$	17,124,955					$	16,951,389					$	16,968,055					$	16,942,999
LIABILITIES
Deposits
Interest-bearing demand			$	2,895,768					$	2,988,086					$	2,927,416					$	2,906,855					$	2,906,712
Savings			4,399,768						4,235,658						3,919,590						3,749,902						3,818,807
Time			2,813,880						2,611,075						2,446,854						2,393,707						2,131,707
Total interest-bearing deposits			10,109,416						9,834,819						9,293,860						9,050,464						8,857,226
Noninterest-bearing			3,169,750						3,368,024						3,493,305						3,663,419						3,954,915
Total deposits			13,279,166						13,202,843						12,787,165						12,713,883						12,812,141
Federal funds purchased and securities sold
under agreements to repurchase			4,204						3,586						10,788						21,881						26,380
FHLB short-term borrowings			646,187						554,826						878,199						1,028,207						925,144
Other			146,127						185,221						175,682						132,088						139,195
Total short-term borrowings			796,518						743,633						1,064,669						1,182,176						1,090,719
Long-term debt			342,496						340,321						338,402						341,523						343,619
Total borrowed funds			1,139,014						1,083,954						1,403,071						1,523,699						1,434,338
Accrued interest and other liabilities			622,479						693,676						607,552						592,708						614,310
Total Liabilities			15,040,659						14,980,473						14,797,788						14,830,290						14,860,789
SHAREHOLDERS' EQUITY
Common stock			1,637,835						1,637,197						1,634,102						1,631,230						1,633,396
Retained earnings			1,144,447						1,111,786						1,076,515						1,034,092						989,777
Accumulated other comprehensive loss			(319,601)						(406,265)						(358,769)						(330,263)						(339,450)
Treasury stock, at cost			(197,119)						(198,236)						(198,247)						(197,294)						(201,513)
Total Shareholders' Equity			2,265,562						2,144,482						2,153,601						2,137,765						2,082,210
Total Liabilities and Shareholders' Equity			$	17,306,221					$	17,124,955					$	16,951,389					$	16,968,055					$	16,942,999

5

FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE/VOLUME ANALYSIS
(Dollars in thousands)
(Unaudited)
						Quarterly Averages
						March 31, 2024																		December 31, 2023																		March 31, 2023
						Balance						Interest						Yield						Balance						Interest						Yield						Balance						Interest						Yield
Earning assets
Investments:
Investment securities						$	3,137,665					$	31,388					4.01		%				$	3,184,408					$	33,696					4.20		%				$	3,635,317					$	35,331					3.94		%
Interest-bearing deposits with other banks						553,654						7,458						5.40		%				548,153						7,325						5.30		%				318,026						3,544						4.52		%
Gross loans (1)						11,066,184						201,840						7.32		%				10,751,028						197,416						7.29		%				10,373,302						169,706						6.63		%
Total earning assets						14,757,503						240,686						6.54		%				14,483,589						238,437						6.53		%				14,326,645						208,581						5.90		%
Nonearning assets
Allowance for credit losses						(143,950)																		(149,398)																		(136,419)
Cash and due from banks						204,119																		214,678																		218,724
Accrued interest and other assets						2,488,549																		2,576,086																		2,534,049
Total assets						$	17,306,221																	$	17,124,955																	$	16,942,999
Interest-bearing liabilities
Deposits:
Interest-bearing demand						$	2,895,768					$	14,892					2.06		%				$	2,988,086					$	14,480					1.92		%				$	2,906,712					$	6,604					0.92		%
Savings						4,399,768						29,486						2.69		%				4,235,658						26,632						2.49		%				3,818,807						7,628						0.81		%
Time						2,813,880						31,697						4.52		%				2,611,075						28,081						4.27		%				2,131,707						17,224						3.28		%
Total interest-bearing deposits						10,109,416						76,075						3.02		%				9,834,819						69,193						2.79		%				8,857,226						31,456						1.44		%
Borrowed funds
Short-term borrowings						796,518						10,943						5.51		%				743,633						10,277						5.48		%				1,090,719						12,950						4.82		%
Long-term debt						342,496						4,928						5.77		%				340,321						5,202						6.06		%				343,619						4,857						5.73		%
Total borrowed funds						1,139,014						15,871						5.59		%				1,083,954						15,479						5.67		%				1,434,338						17,807						5.03		%
Total interest-bearing liabilities						11,248,430						91,946						3.28		%				10,918,773						84,672						3.08		%				10,291,564						49,263						1.94		%
Noninterest-bearing liabilities
Noninterest-bearing demand deposits						3,169,750																		3,368,024																		3,954,915
Other liabilities						622,479																		693,676																		614,310
Shareholders' equity						2,265,562																		2,144,482																		2,082,210
Total liabilities & shareholders' equity						$	17,306,221																	$	17,124,955																	$	16,942,999
Net interest income						$	148,740																	$	153,765																	$	159,318
Net interest spread																		3.26		%																3.45		%																3.96		%
Net interest margin																		4.05		%																4.21		%																4.51		%
Tax equivalent adjustment																		0.05		%																0.05		%																0.04		%
Net interest margin (fully tax equivalent)																		4.10		%																4.26		%																4.55		%
(1) Loans held for sale and nonaccrual loans are included in gross loans.

6

FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE/VOLUME ANALYSIS (1)
(Dollars in thousands)
(Unaudited)
						Linked Qtr. Income Variance																		Comparable Qtr. Income Variance
						Rate									Volume						Total						Rate						Volume						Total
Earning assets
Investment securities						$	(1,490)								$	(818)					$	(2,308)					$	636					$	(4,579)					$	(3,943)
Interest-bearing deposits with other banks						140									(7)						133						693						3,221						3,914
Gross loans (2)						831									3,593						4,424						17,417						14,717						32,134
Total earning assets						(519)									2,768						2,249						18,746						13,359						32,105
Interest-bearing liabilities
Total interest-bearing deposits						$	5,629								$	1,253					$	6,882					$	34,464					$	10,155					$	44,619
Borrowed funds
Short-term borrowings						52									614						666						1,870						(3,877)						(2,007)
Long-term debt						(251)									(23)						(274)						33						38						71
Total borrowed funds						(199)									591						392						1,903						(3,839)						(1,936)
Total interest-bearing liabilities						5,430									1,844						7,274						36,367						6,316						42,683
Net interest income (1)						$	(5,949)								$	924					$	(5,025)					$	(17,621)					$	7,043					$	(10,578)
(1) Not tax equivalent.
(2) Loans held for sale and nonaccrual loans are included in gross loans.

7

FIRST FINANCIAL BANCORP.
CREDIT QUALITY
(Dollars in thousands)
(Unaudited)
			Mar. 31,						Dec. 31,						Sep. 30,						June 30,						Mar. 31,
			2024						2023						2023						2023						2023
ALLOWANCE FOR CREDIT LOSS ACTIVITY
Balance at beginning of period			$	141,433					$	145,201					$	148,646					$	141,591					$	132,977
Provision for credit losses			13,419						8,804						12,907						12,719						8,644
Gross charge-offs
Commercial and industrial			2,695						6,866						9,207						2,372						730
Lease financing			3						4,244						76						90						13
Construction real estate			0						0						0						0						0
Commercial real estate			5,319						1						6,008						2,648						66
Residential real estate			65						9						10						20						0
Home equity			25						174						54						21						91
Installment			2,236						2,054						1,349						1,515						1,524
Credit card			794						363						319						274						217
Total gross charge-offs			11,137						13,711						17,023						6,940						2,641
Recoveries
Commercial and industrial			162						459						335						631						109
Lease financing			59						52						1						1						1
Construction real estate			0						0						0						0						0
Commercial real estate			38						93						39						153						2,238
Residential real estate			24						24						44						113						66
Home equity			80						178						125						232						80
Installment			145						210						87						90						54
Credit card			51						123						40						56						63
Total recoveries			559						1,139						671						1,276						2,611
Total net charge-offs			10,578						12,572						16,352						5,664						30
Ending allowance for credit losses			$	144,274					$	141,433					$	145,201					$	148,646					$	141,591
NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)
Commercial and industrial			0.29		%				0.74		%				1.02		%				0.20		%				0.07		%
Lease financing			(0.05)		%				3.97		%				0.08		%				0.11		%				0.02		%
Construction real estate			0.00		%				0.00		%				0.00		%				0.00		%				0.00		%
Commercial real estate			0.52		%				(0.01)		%				0.59		%				0.25		%				(0.22)		%
Residential real estate			0.01		%				0.00		%				(0.01)		%				(0.03)		%				(0.02)		%
Home equity			(0.03)		%				0.00		%				(0.04)		%				(0.12)		%				0.01		%
Installment			5.33		%				4.57		%				3.05		%				3.32		%				2.89		%
Credit card			4.59		%				1.49		%				1.82		%				1.47		%				1.12		%
Total net charge-offs			0.38		%				0.46		%				0.61		%				0.22		%				0.00		%
COMPONENTS OF NONACCRUAL LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans
Commercial and industrial			$	14,532					$	15,746					$	17,152					$	21,508					$	13,971
Lease financing			3,794						3,610						7,731						4,833						175
Construction real estate			0						0						0						0						0
Commercial real estate			23,055						27,984						33,019						11,876						5,362
Residential real estate			12,836						14,067						12,328						11,697						11,129
Home equity			4,036						3,476						3,937						3,239						3,399
Installment			984						870						774						568						544
Total nonaccrual loans			59,237						65,753						74,941						53,721						34,580
Other real estate owned (OREO)			161						106						142						281						191
Total nonperforming assets			59,398						65,859						75,083						54,002						34,771
Accruing loans past due 90 days or more			820						2,028						698						873						159
Total underperforming assets			$	60,218					$	67,887					$	75,781					$	54,875					$	34,930
Total classified assets			$	162,348					$	140,995					$	140,552					$	138,909					$	158,984
CREDIT QUALITY RATIOS
Allowance for credit losses to
Nonaccrual loans			243.55		%				215.10		%				193.75		%				276.70		%				409.46		%
Total ending loans			1.29		%				1.29		%				1.36		%				1.41		%				1.36		%
Nonaccrual loans to total loans			0.53		%				0.60		%				0.70		%				0.51		%				0.33		%
Nonperforming assets to
Ending loans, plus OREO			0.53		%				0.60		%				0.71		%				0.51		%				0.33		%
Total assets			0.34		%				0.38		%				0.44		%				0.32		%				0.21		%
Nonperforming assets, excluding accruing TDRs to
Ending loans, plus OREO			0.53		%				0.60		%				0.71		%				0.51		%				0.33		%
Total assets			0.34		%				0.38		%				0.44		%				0.32		%				0.21		%
Classified assets to total assets			0.92		%				0.80		%				0.82		%				0.81		%				0.94		%

8

FIRST FINANCIAL BANCORP.
CAPITAL ADEQUACY
(Dollars in thousands, except per share data)
(Unaudited)
			Three Months Ended,
			Mar. 31,						Dec. 31,						Sep. 30,						June 30,						Mar. 31,
			2024						2023						2023						2023						2023
PER COMMON SHARE
Market Price
High			$	23.68					$	24.28					$	24.02					$	22.27					$	26.24
Low			$	21.04					$	17.37					$	19.19					$	18.20					$	21.30
Close			$	22.42					$	23.75					$	19.60					$	20.44					$	21.77
Average shares outstanding - basic			94,218,067						94,063,570						94,030,275						93,924,068						93,732,532
Average shares outstanding - diluted			95,183,998						95,126,316						95,126,269						95,169,348						94,960,158
Ending shares outstanding			95,473,595						95,141,244						95,117,180						95,185,483						95,190,406
Total shareholders' equity			$	2,287,003					$	2,267,974					$	2,129,509					$	2,143,419					$	2,121,496
REGULATORY CAPITAL			Preliminary
Common equity tier 1 capital			$	1,582,113					$	1,568,815					$	1,527,793					$	1,481,913					$	1,432,332
Common equity tier 1 capital ratio			11.67		%				11.73		%				11.60		%				11.34		%				11.00		%
Tier 1 capital			$	1,626,899					$	1,613,480					$	1,572,248					$	1,526,362					$	1,476,734
Tier 1 ratio			12.00		%				12.06		%				11.94		%				11.68		%				11.34		%
Total capital			$	1,940,762					$	1,907,441					$	1,868,490					$	1,851,144					$	1,796,385
Total capital ratio			14.31		%				14.26		%				14.19		%				14.16		%				13.79		%
Total capital in excess of minimum requirement			$	516,704					$	503,152					$	485,580					$	478,911					$	428,700
Total risk-weighted assets			$	13,562,455					$	13,374,177					$	13,170,574					$	13,068,888					$	13,025,567
Leverage ratio			9.75		%				9.70		%				9.59		%				9.33		%				9.03		%
OTHER CAPITAL RATIOS
Ending shareholders' equity to ending assets			12.99		%				12.94		%				12.49		%				12.54		%				12.53		%
Ending tangible shareholders' equity to ending tangible assets (1)			7.23		%				7.17		%				6.50		%				6.56		%				6.47		%
Average shareholders' equity to average assets			13.09		%				12.52		%				12.70		%				12.60		%				12.29		%
Average tangible shareholders' equity to average tangible assets (1)			7.25		%				6.57		%				6.69		%				6.57		%				6.21		%
REPURCHASE PROGRAM (2)
Shares repurchased			0						0						0						0						0
Average share repurchase price			N/A						N/A						N/A						N/A						N/A
Total cost of shares repurchased			N/A						N/A						N/A						N/A						N/A
(1) Non-GAAP measure. 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.
(2) Represents share repurchases as part of publicly announced plans.
N/A = Not applicable

9