First Financial Bancorp Announces Fourth Quarter and Full Year 2024 Financial Results

— Earnings per diluted share of $0.68; $0.71 on an adjusted(1) basis

— Return on average assets of 1.41%; 1.47% on an adjusted(1) basis

— Net interest margin on FTE basis(1) of 3.94%

— Noninterest income of $69.9 million; $69.7 million on an adjusted(1) basis

— Loan growth of $208.7 million; 7.2% on an annualized basis

— Average deposit growth of $543.1 million; 15.7% on an annualized basis

First FinancialBancorp. (Nasdaq: FFBC) (“First Financial” or the “Company”) announced financial results for the three and twelve months ended December 31, 2024.

For the three months ended December31, 2024, the Company reported net income of $64.9 million, or $0.68 per diluted common share. These results compare to net income of $52.5 million, or $0.55 per diluted common share, for the third quarter of 2024. For the twelve months ended December31, 2024, First Financial had earnings per diluted share of $2.40 compared to $2.69 for the same period in 2023.

Return on average assets for the fourth quarter of 2024 was 1.41% while return on average tangible common equity was 19.08%(1). These compare to return on average assets of 1.17% and return on average tangible common equity of 16.29%(1) in the third quarter of 2024.

Fourth quarter 2024 highlights include:

— Robust net interest margin of 3.91%, or 3.94% on a fully tax-equivalent basis(1)

— 14 bp decline fromthird quarter, in line with initial expectations

— 13 bp decline in cost of deposits and favorable shift in funding mix offset by 37 bp decline in loan yields

— Noninterest income of $69.9 million, or $69.7 million as adjusted(1)

— Adjustments include $0.1 million gain on securities

— Record wealth management income

— Strong results from foreign exchange and leasing businesses

— Noninterest expenses of $147.9 million, or $130.9 million as adjusted(1); 5.0% increase from linked quarter

— Fourth quarter adjustments(1) include $4.7 million of efficiency related costs, $14.3 million of tax credit writedowns, $1.0 million of state tax credits and $2.0 million of gains on the sale of previously closed branches

— Increase from prior quarter driven by higher incentive compensation tied to increase innoninterest income and overall company performance

— Efficiency ratio of 66.0%; 58.4% as adjusted(1)

— Broad-based loan growth during the quarter

— Loan balances increased $208.7 million compared to the linked quarter; 7% annualized growth

— Growth driven by C&I,ICRE, leasing and mortgage

_________________________________________________________________________________________ (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.

— Average deposit growth surged during the quarter

— Average deposits increased $543.1 million, or 15.7% on an annualized basis

— Growth across most product types offset a decline in brokered CDs and savings

— Total Allowance for Credit Losses of $173.7 million; Total quarterly provision expense of $9.4 million

— Loans and leases -ACL of $156.8 million; ratio to total loans of 1.33% declined 4 bps from third quarter

— Unfunded Commitments -ACL of $16.9 million

— Provision expense driven by net charge offs, slower prepayment rates and loan growth

— Classified assets increased 7 bps to 1.21% of total assets

— Annualized net charge-offs were 40 bps of total loans; 30 bps for full year

— Capital ratios stable and strong

— Total capital ratio decreased 15bps to 14.43%

— Tier 1 common equity increased 12bps to 12.16%

— Tangible common equity of 7.73%(1); 9.39%(1) excluding impact from AOCI

— Tangible book value per share of $14.15(1)

Archie Brown, President and CEO, commented on the quarter, “I am very pleased with our fourth quarter performance. Adjusted(1) earnings per share were $0.71, leading to an adjusted(1) return on assets of 1.47%, and an adjusted(1) return on tangible common equity ratio of 19.90%. As expected, due to decreases in short term rates by the Fed, the decline in asset yields outpaced the decline in deposit costs, leading to a reduction in our net interest margin to 3.94%. Balance sheet trends were very strong for the quarter with loan growth exceeding 7% on an annualized basis and total deposits surging by approximately 16% on an annualized basis.”

Mr. Brown continued, “Adjusted(1) noninterest income was robust in the fourth quarter with leasing, foreign exchange and wealth management income all increasing by double-digit percentages from the linked quarter. While adjusted(1) expenses increased by 5% from the linked quarter, the increase was driven by higher incentive compensation tied to the strong fee income and overall company performance. Our workforce efficiency initiative continued during the quarter, and we have eliminated 145 positions to date. We expect to complete this work in 2025.”

Mr. Brown commented on asset quality, “Asset quality was relatively stable for the quarter. Nonperforming assets were flat compared to the linked quarter at 0.36%, while classified assets increased by 7 basis points to 1.21%. The increase in classified assets was driven by the mutually agreed upon termination of a foreign exchange trade, resulting in a $45 million obligation from the customer, which we believe is fully collateralized. We expect the customer to pay this obligation in 2025. Net charge-offs were slightly elevated due to the resolution of three loans that have been longer term workouts. We believe that overall credit trends are improving and, as a result, we anticipate lower credit costs going forward.”

Mr. Brown highlighted full year results. “2024 was an excellent year for our Company. On an adjusted(1) basis, we earned $249 million, or $2.61 per share. Adjusted(1) return on assets was 1.40% and adjusted(1) return on tangible common equity was 19.9%. While the net interest margin declined from 4.40% to 4.05%, due to declining short-term rates, strong loan growth offset most of the impact with net interest income declining by only 2.5%. Noninterest income increased by 13.3% to a record $241.8 million, led by growth in leasing and wealth management income. The result was record revenue for the Company of $853.8 million, which was a 2% increase over 2023.”

Mr. Brown continued, “I am very pleased with our balance sheet growth for the year. Total loans increased by 7.6% to $11.8 billion and total deposits increased by 7.2% to $14.3 billion. Additionally, tangible common equity increased by 56 basis points to 7.73% and tangible book value per share increased from $12.38 to $14.15, which was a 14.3% increase.”

Mr. Brown commented on asset quality, “Similar to the fourth quarter, asset quality was relatively stable for the year. Net charge-offs as a percent of average loans declined 3 basis points to 0.30% and nonperforming assets as a percent of total assets declined by 2 basis points to 0.36%.”

Mr. Brown concluded, “During the year, we were excited to add the Agile team and I want to thank them for making an immediate contribution to our Company. We continued to gain momentum in our expansion markets, Chicago, IL, Evansville, IN and Cleveland, OH and at the beginning of 2025, we expanded into Grand Rapids, MI with a commercial banking team. We look forward to the continued growth and success of our expansion strategies. Performing at a consistently high level requires an engaged team that is committed to its clients. This describes the team at First Financial. I want to thank our associates for their outstanding work in 2024.”

Full detail of the Company's fourth quarter 2024 performance is provided in the accompanying financial statements and slide presentation.

Teleconference / WebcastInformation First Financial's executive management will host a conference call to discuss the Company's financial and operating results on Friday, January 24, 2025 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), (609) 800-9099 (U.S. toll), access code 5048068. The recording will be available until February 7, 2025. 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 theDodd-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 andcreditworthiness;

— 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 theBasel 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 theDodd-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 atwww.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 December31, 2024, the Company had $18.6 billion in assets, $11.8 billion in loans, $14.3 billion in deposits and $2.4 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 $3.7 billion in assets under management as of December31, 2024. The Company operated 127 full service banking centers as of December31, 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.

FIRST FINANCIAL BANCORP.CONSOLIDATED FINANCIAL HIGHLIGHTS(Dollars in thousands, except per share data)(Unaudited) Three Months Ended, Twelve months ended, Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, Dec. 31, 2024 2024 2024 2024 2023 2024 2023RESULTS OF OPERATIONSNet income $ 64,885 $ 52,451 $ 60,805 $ 50,689 $ 56,732 $ 228,830 $ 255,863Net earnings per share – basic $ 0.69 $ 0.56 $ 0.64 $ 0.54 $ 0.60 $ 2.42 $ 2.72Net earnings per share – diluted $ 0.68 $ 0.55 $ 0.64 $ 0.53 $ 0.60 $ 2.40 $ 2.69Dividends declared per share $ 0.24 $ 0.24 $ 0.23 $ 0.23 $ 0.23 $ 0.94 $ 0.92KEY FINANCIAL RATIOSReturn on average assets 1.41% 1.17% 1.38% 1.18% 1.31% 1.29% 1.51%Return on average shareholders' equity 10.57% 8.80% 10.72% 9.00% 10.50% 9.78% 12.01%Return on average tangible shareholders' equity (1) 19.08% 16.29% 20.57% 17.35% 21.36% 18.31% 24.72%Net interest margin 3.91% 4.05% 4.06% 4.05% 4.21% 4.02% 4.36%Net interest margin (fully tax equivalent) (1)(2) 3.94% 4.08% 4.10% 4.10% 4.26% 4.05% 4.40%Ending shareholders' equity as a percent of ending assets 13.13% 13.50% 12.81% 12.99% 12.94% 13.13% 12.94%Ending tangible shareholders' equity as a percent of:Ending tangible assets (1) 7.73% 7.98% 7.23% 7.23% 7.17% 7.73% 7.17%Risk-weighted assets (1) 9.61% 9.86% 8.95% 8.80% 8.81% 9.61% 8.81%Average shareholders' equity as a percent of average assets 13.36% 13.28% 12.87% 13.09% 12.52% 13.15% 12.53%Average tangible shareholders' equity as a percent 7.87% 7.64% 7.15% 7.25% 6.57% 7.48% 6.51%of average tangible assets (1)Book value per share $ 25.53 $ 25.66 $ 24.36 $ 23.95 $ 23.84 $ 25.53 $ 23.84Tangible book value per share (1) $ 14.15 $ 14.26 $ 12.94 $ 12.50 $ 12.38 $ 14.15 $ 12.38Common equity tier 1 ratio (3) 12.16% 12.04% 11.78% 11.67% 11.73% 12.16% 11.73%Tier 1 ratio (3) 12.48% 12.37% 12.11% 12.00% 12.06% 12.48% 12.06%Total capital ratio (3) 14.43% 14.58% 14.47% 14.31% 14.26% 14.43% 14.26%Leverage ratio (3) 9.98% 9.93% 9.73% 9.75% 9.70% 9.98% 9.70%AVERAGE BALANCE SHEET ITEMSLoans (4) $ 11,687,886 $ 11,534,000 $ 11,440,930 $ 11,066,184 $ 10,751,028 $ 11,433,226 $ 10,566,587Investment securities 3,372,539 3,274,498 3,131,541 3,137,665 3,184,408 3,229,577 3,442,233Interest-bearing deposits with other banks 654,251 483,880 599,348 553,654 548,153 572,763 396,089Total earning assets $ 15,714,676 $ 15,292,378 $ 15,171,819 $ 14,757,503 $ 14,483,589 $ 15,235,566 $ 14,404,909Total assets $ 18,273,419 $ 17,854,191 $ 17,728,251 $ 17,306,221 $ 17,124,955 $ 17,792,014 $ 16,997,223Noninterest-bearing deposits $ 3,162,643 $ 3,106,239 $ 3,144,198 $ 3,169,750 $ 3,368,024 $ 3,145,646 $ 3,617,961Interest-bearing deposits 11,177,010 10,690,265 10,486,068 10,109,416 9,834,819 10,617,427 9,261,866Total deposits $ 14,339,653 $ 13,796,504 $ 13,630,266 $ 13,279,166 $ 13,202,843 $ 13,763,073 $ 12,879,827Borrowings $ 855,083 $ 1,053,737 $ 1,171,246 $ 1,139,014 $ 1,083,954 $ 1,054,222 $ 1,360,420Shareholders' equity $ 2,441,045 $ 2,371,125 $ 2,281,040 $ 2,265,562 $ 2,144,482 $ 2,340,056 $ 2,129,751CREDIT QUALITY RATIOSAllowance to ending loans 1.33% 1.37% 1.36% 1.29% 1.29% 1.33% 1.29%Allowance to nonaccrual loans 237.66% 242.72% 249.21% 243.55% 215.10% 237.66% 215.10%Nonaccrual loans to total loans 0.56% 0.57% 0.54% 0.53% 0.60% 0.56% 0.60%Nonperforming assets to ending loans, plus OREO 0.56% 0.57% 0.54% 0.53% 0.60% 0.56% 0.60%Nonperforming assets to total assets 0.36% 0.36% 0.35% 0.34% 0.38% 0.36% 0.38%Classified assets to total assets 1.21% 1.14% 1.07% 0.92% 0.80% 1.21% 0.80%Net charge-offs to average loans (annualized) 0.40% 0.25% 0.15% 0.38% 0.46% 0.30% 0.33%

(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)December31, 2024 regulatory capital ratios are preliminary.(4) Includes loans held for sale.

FIRST FINANCIAL BANCORP.CONSOLIDATED STATEMENTS OF INCOME(Dollars in thousands, except per share data)(Unaudited) Three months ended, Twelve months ended, Dec. 31, Dec. 31, 2024 2023 % Change 2024 2023 % ChangeInterest incomeLoans and leases, including fees $ 207,508 $ 197,416 5.1% $ 836,541 $ 743,770 12.5%Investment securitiesTaxable 33,978 30,294 12.2% 124,936 125,520 (0.5)%Tax-exempt 2,423 3,402 (28.8)% 10,835 13,901 (22.1)%Total investment securities interest 36,401 33,696 8.0% 135,771 139,421 (2.6)%Other earning assets 7,662 7,325 4.6% 29,783 19,813 50.3%Total interest income 251,571 238,437 5.5% 1,002,095 903,004 11.0%Interest expenseDeposits 85,441 69,193 23.5% 331,092 202,010 63.9%Short-term borrowings 6,586 10,277 (35.9)% 38,856 53,378 (27.2)%Long-term borrowings 5,145 5,202 (1.1)% 20,137 19,846 1.5%Total interest expense 97,172 84,672 14.8% 390,085 275,234 41.7%Net interest income 154,399 153,765 0.4% 612,010 627,770 (2.5)%Provision for credit losses-loans and leases 9,705 8,804 10.2% 49,211 43,074 14.2%Provision for credit losses-unfunded commitments (273) 1,426 (119.1)% (1,552) 33 N/MNet interest income after provision for credit losses 144,967 143,535 1.0% 564,351 584,663 (3.5)%Noninterest incomeService charges on deposit accounts 7,632 6,846 11.5% 29,279 27,289 7.3%Wealth management fees 7,962 6,091 30.7% 28,720 26,081 10.1%Bankcard income 3,659 3,349 9.3% 14,399 14,039 2.6%Client derivative fees 1,528 711 114.9% 4,701 5,155 (8.8)%Foreign exchange income 16,794 8,730 92.4% 56,064 54,051 3.7%Leasing business income 19,413 12,856 51.0% 67,641 51,322 31.8%Net gains from sales of loans 4,634 2,957 56.7% 17,918 13,217 35.6%Net gain (loss) on investment securities 144 (649) 122.2% (22,575) (1,052) N/MOther 8,088 6,102 32.5% 27,421 22,320 22.9%Total noninterest income 69,854 46,993 48.6% 223,568 212,422 5.2%Noninterest expensesSalaries and employee benefits 80,314 70,637 13.7% 304,389 292,731 4.0%Net occupancy 5,415 5,890 (8.1)% 23,050 22,990 0.3%Furniture and equipment 3,476 3,523 (1.3)% 14,427 13,543 6.5%Data processing 9,139 8,488 7.7% 35,178 35,852 (1.9)%Marketing 2,204 2,087 5.6% 9,026 9,647 (6.4)%Communication 767 707 8.5% 3,229 2,729 18.3%Professional services 6,631 3,148 110.6% 14,087 9,926 41.9%State intangible tax (104) 984 (110.6)% 2,524 3,914 (35.5)%FDIC assessments 2,736 3,651 (25.1)% 11,209 11,948 (6.2)%Intangible amortization 2,395 2,601 (7.9)% 9,487 10,402 (8.8)%Leasing business expense 12,536 8,955 40.0% 44,317 32,500 36.4%Other 22,398 8,466 164.6% 48,672 32,307 50.7%Total noninterest expenses 147,907 119,137 24.1% 519,595 478,489 8.6%Income before income taxes 66,914 71,391 (6.3)% 268,324 318,596 (15.8)%Income tax expense (benefit) 2,029 14,659 (86.2)% 39,494 62,733 (37.0)%Net income $ 64,885 $ 56,732 14.4% $ 228,830 $ 255,863 (10.6)%ADDITIONAL DATANet earnings per share – basic $ 0.69 $ 0.60 $ 2.42 $ 2.72Net earnings per share – diluted $ 0.68 $ 0.60 $ 2.40 $ 2.69Dividends declared per share $ 0.24 $ 0.23 $ 0.94 $ 0.92Return on average assets 1.41% 1.31% 1.29% 1.51%Return on average shareholders' equity 10.57% 10.50% 9.78% 12.01%Interest income $ 251,571 $ 238,437 5.5% $ 1,002,095 $ 903,004 11.0%Tax equivalent adjustment 1,274 1,672 (23.8)% 5,589 6,356 (12.1)%Interest income – tax equivalent 252,845 240,109 5.3% 1,007,684 909,360 10.8%Interest expense 97,172 84,672 14.8% 390,085 275,234 41.7%Net interest income – tax equivalent $ 155,673 $ 155,437 0.2% $ 617,599 $ 634,126 (2.6)%Net interest margin 3.91% 4.21% 4.02% 4.36%Net interest margin (fully tax equivalent) (1) 3.94% 4.26% 4.05% 4.40%Full-time equivalent employees 2,064 2,129

(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.

FIRST FINANCIAL BANCORP.CONSOLIDATED QUARTERLY STATEMENTS OF INCOME(Dollars in thousands, except per share data)(Unaudited) 2024 Fourth Third Second First Year to % Change Quarter Quarter Quarter Quarter Date Linked Qtr.Interest incomeLoans and leases, including fees $ 207,508 $ 215,433 $ 211,760 $ 201,840 $ 836,541 (3.7)%Investment securitiesTaxable 33,978 32,367 30,295 28,296 124,936 5.0%Tax-exempt 2,423 2,616 2,704 3,092 10,835 (7.4)%Total investment securities interest 36,401 34,983 32,999 31,388 135,771 4.1%Other earning assets 7,662 6,703 7,960 7,458 29,783 14.3%Total interest income 251,571 257,119 252,719 240,686 1,002,095 (2.2)%Interest expenseDeposits 85,441 86,554 83,022 76,075 331,092 (1.3)%Short-term borrowings 6,586 9,932 11,395 10,943 38,856 (33.7)%Long-term borrowings 5,145 5,073 4,991 4,928 20,137 1.4%Total interest expense 97,172 101,559 99,408 91,946 390,085 (4.3)%Net interest income 154,399 155,560 153,311 148,740 612,010 (0.7)%Provision for credit losses-loans and leases 9,705 9,930 16,157 13,419 49,211 (2.3)%Provision for credit losses-unfunded commitments (273) 694 286 (2,259) (1,552) (139.3)%Net interest income after provision for credit losses 144,967 144,936 136,868 137,580 564,351 0.0%Noninterest incomeService charges on deposit accounts 7,632 7,547 7,188 6,912 29,279 1.1%Wealth management fees 7,962 6,910 7,172 6,676 28,720 15.2%Bankcard income 3,659 3,698 3,900 3,142 14,399 (1.1)%Client derivative fees 1,528 1,160 763 1,250 4,701 31.7%Foreign exchange income 16,794 12,048 16,787 10,435 56,064 39.4%Leasing business income 19,413 16,811 16,828 14,589 67,641 15.5%Net gains from sales of loans 4,634 5,021 4,479 3,784 17,918 (7.7)%Net gain (loss) on investment securities 144 (17,468) (64) (5,187) (22,575) 100.8%Other 8,088 9,974 4,448 4,911 27,421 (18.9)%Total noninterest income 69,854 45,701 61,501 46,512 223,568 52.9%Noninterest expensesSalaries and employee benefits 80,314 74,813 75,225 74,037 304,389 7.4%Net occupancy 5,415 5,919 5,793 5,923 23,050 (8.5)%Furniture and equipment 3,476 3,617 3,646 3,688 14,427 (3.9)%Data processing 9,139 8,857 8,877 8,305 35,178 3.2%Marketing 2,204 2,255 2,605 1,962 9,026 (2.3)%Communication 767 851 816 795 3,229 (9.9)%Professional services 6,631 2,303 2,885 2,268 14,087 187.9%State intangible tax (104) 876 875 877 2,524 (111.9)%FDIC assessments 2,736 3,036 2,657 2,780 11,209 (9.9)%Intangible amortization 2,395 2,395 2,396 2,301 9,487 0.0%Leasing business expense 12,536 11,899 10,128 9,754 44,317 5.4%Other 22,398 8,938 7,671 9,665 48,672 150.6%Total noninterest expenses 147,907 125,759 123,574 122,355 519,595 17.6%Income before income taxes 66,914 64,878 74,795 61,737 268,324 3.1%Income tax expense (benefit) 2,029 12,427 13,990 11,048 39,494 (83.7)%Net income $ 64,885 $ 52,451 $ 60,805 $ 50,689 $ 228,830 23.7%ADDITIONAL DATANet earnings per share – basic $ 0.69 $ 0.56 $ 0.64 $ 0.54 $ 2.42Net earnings per share – diluted $ 0.68 $ 0.55 $ 0.64 $ 0.53 $ 2.40Dividends declared per share $ 0.24 $ 0.24 $ 0.23 $ 0.23 $ 0.94Return on average assets 1.41% 1.17% 1.38% 1.18% 1.29%Return on average shareholders' equity 10.57% 8.80% 10.72% 9.00% 9.78%Interest income $ 251,571 $ 257,119 $ 252,719 $ 240,686 $ 1,002,095 (2.2)%Tax equivalent adjustment 1,274 1,362 1,418 1,535 5,589 (6.5)%Interest income – tax equivalent 252,845 258,481 254,137 242,221 1,007,684 (2.2)%Interest expense 97,172 101,559 99,408 91,946 390,085 (4.3)%Net interest income – tax equivalent $ 155,673 $ 156,922 $ 154,729 $ 150,275 $ 617,599 (0.8)%Net interest margin 3.91% 4.05% 4.06% 4.05% 4.02%Net interest margin (fully tax equivalent) (1) 3.94% 4.08% 4.10% 4.10% 4.05%Full-time equivalent employees 2,064 2,084 2,144 2,116

FIRST FINANCIAL BANCORP.CONSOLIDATED QUARTERLY STATEMENTS OF INCOME(Dollars in thousands, except per share data)(Unaudited) 2023 Fourth Third Second First Full Quarter Quarter Quarter Quarter YearInterest incomeLoans and leases, including fees $ 197,416 $ 192,261 $ 184,387 $ 169,706 $ 743,770Investment securitiesTaxable 30,294 31,297 32,062 31,867 125,520Tax-exempt 3,402 3,522 3,513 3,464 13,901Total investment securities interest 33,696 34,819 35,575 35,331 139,421Other earning assets 7,325 5,011 3,933 3,544 19,813Total interest income 238,437 232,091 223,895 208,581 903,004Interest expenseDeposits 69,193 57,069 44,292 31,456 202,010Short-term borrowings 10,277 14,615 15,536 12,950 53,378Long-term borrowings 5,202 4,952 4,835 4,857 19,846Total interest expense 84,672 76,636 64,663 49,263 275,234Net interest income 153,765 155,455 159,232 159,318 627,770Provision for credit losses-loans and leases 8,804 12,907 12,719 8,644 43,074Provision for credit losses-unfunded commitments 1,426 (1,234) (1,994) 1,835 33Net interest income after provision for credit losses 143,535 143,782 148,507 148,839 584,663Noninterest incomeService charges on deposit accounts 6,846 6,957 6,972 6,514 27,289Wealth management fees 6,091 6,943 6,713 6,334 26,081Bankcard income 3,349 3,406 3,692 3,592 14,039Client derivative fees 711 1,612 1,827 1,005 5,155Foreign exchange income 8,730 13,384 15,039 16,898 54,051Leasing business income 12,856 14,537 10,265 13,664 51,322Net gains from sales of loans 2,957 4,086 3,839 2,335 13,217Net gain (loss) on investment securities (649) (58) (466) 121 (1,052)Other 6,102 5,761 5,377 5,080 22,320Total noninterest income 46,993 56,628 53,258 55,543 212,422Noninterest expensesSalaries and employee benefits 70,637 75,641 74,199 72,254 292,731Net occupancy 5,890 5,809 5,606 5,685 22,990Furniture and equipment 3,523 3,341 3,362 3,317 13,543Data processing 8,488 8,473 9,871 9,020 35,852Marketing 2,087 2,598 2,802 2,160 9,647Communication 707 744 644 634 2,729Professional services 3,148 2,524 2,308 1,946 9,926State intangible tax 984 981 964 985 3,914FDIC assessments 3,651 2,665 2,806 2,826 11,948Intangible amortization 2,601 2,600 2,601 2,600 10,402Leasing business expense 8,955 8,877 6,730 7,938 32,500Other 8,466 7,791 8,722 7,328 32,307Total noninterest expenses 119,137 122,044 120,615 116,693 478,489Income before income taxes 71,391 78,366 81,150 87,689 318,596Income tax expense (benefit) 14,659 15,305 15,483 17,286 62,733Net income $ 56,732 $ 63,061 $ 65,667 $ 70,403 $ 255,863ADDITIONAL DATANet earnings per share – basic $ 0.60 $ 0.67 $ 0.70 $ 0.75 $ 2.72Net earnings per share – diluted $ 0.60 $ 0.66 $ 0.69 $ 0.74 $ 2.69Dividends declared per share $ 0.23 $ 0.23 $ 0.23 $ 0.23 $ 0.92Return on average assets 1.31% 1.48% 1.55% 1.69% 1.51%Return on average shareholders' equity 10.50% 11.62% 12.32% 13.71% 12.01%Interest income $ 238,437 $ 232,091 $ 223,895 $ 208,581 $ 903,004Tax equivalent adjustment 1,672 1,659 1,601 1,424 6,356Interest income – tax equivalent 240,109 233,750 225,496 210,005 909,360Interest expense 84,672 76,636 64,663 49,263 275,234Net interest income – tax equivalent $ 155,437 $ 157,114 $ 160,833 $ 160,742 $ 634,126Net interest margin 4.21% 4.28% 4.43% 4.51% 4.36%Net interest margin (fully tax equivalent) (1) 4.26% 4.33% 4.48% 4.55% 4.40%Full-time equivalent employees 2,129 2,121 2,193 2,066

FIRST FINANCIAL BANCORP.CONSOLIDATED STATEMENTS OF CONDITION(Dollars in thousands)(Unaudited) Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, % Change % Change 2024 2024 2024 2024 2023 Linked Qtr. Comp Qtr.ASSETSCash and due from banks $ 174,258 $ 190,618 $ 193,794 $ 199,407 $ 213,059 (8.6)% (18.2)%Interest-bearing deposits with other banks 730,228 660,576 738,555 751,290 792,960 10.5% (7.9)%Investment securities available-for-sale 3,183,776 3,157,265 3,036,758 2,850,667 3,021,126 0.8% 5.4%Investment securities held-to-maturity 76,960 77,985 78,921 79,542 80,321 (1.3)% (4.2)%Other investments 114,598 120,318 132,412 125,548 129,945 (4.8)% (11.8)%Loans held for sale 13,181 12,685 16,911 11,534 9,213 3.9% 43.1%Loans and leasesCommercial and industrial 3,815,858 3,678,546 3,782,487 3,591,428 3,501,221 3.7% 9.0%Lease financing 598,045 587,415 534,557 492,862 474,817 1.8% 26.0%Construction real estate 779,446 802,264 741,406 641,596 564,832 (2.8)% 38.0%Commercial real estate 4,061,744 4,034,820 4,076,596 4,145,969 4,080,939 0.7% (0.5)%Residential real estate 1,462,284 1,422,186 1,377,290 1,344,677 1,333,674 2.8% 9.6%Home equity 849,039 825,431 800,860 773,811 758,676 2.9% 11.9%Installment 133,051 141,270 148,530 153,838 159,078 (5.8)% (16.4)%Credit card 62,311 61,140 59,477 60,939 59,939 1.9% 4.0%Total loans 11,761,778 11,553,072 11,521,203 11,205,120 10,933,176 1.8% 7.6%Less:Allowance for credit losses (156,791) (158,831) (156,185) (144,274) (141,433) (1.3)% 10.9%Net loans 11,604,987 11,394,241 11,365,018 11,060,846 10,791,743 1.8% 7.5%Premises and equipment 197,965 196,692 197,873 198,428 194,740 0.6% 1.7%Operating leases 209,119 201,080 167,472 161,473 153,214 4.0% 36.5%Goodwill 1,007,656 1,007,656 1,007,656 1,007,656 1,005,868 0.0% 0.2%Other intangibles 79,291 81,547 83,528 85,603 83,949 (2.8)% (5.5)%Accrued interest and other assets 1,178,242 1,045,669 1,147,282 1,067,244 1,056,762 12.7% 11.5%Total Assets $ 18,570,261 $ 18,146,332 $ 18,166,180 $ 17,599,238 $ 17,532,900 2.3% 5.9%LIABILITIESDepositsInterest-bearing demand $ 3,095,724 $ 2,884,971 $ 2,922,540 $ 2,916,518 $ 2,993,219 7.3% 3.4%Savings 4,948,768 4,710,223 4,628,320 4,467,894 4,331,228 5.1% 14.3%Time 3,152,265 3,244,861 3,049,635 2,896,860 2,718,390 (2.9)% 16.0%Total interest-bearing deposits 11,196,757 10,840,055 10,600,495 10,281,272 10,042,837 3.3% 11.5%Noninterest-bearing 3,132,381 3,107,699 3,061,427 3,175,876 3,317,960 0.8% (5.6)%Total deposits 14,329,138 13,947,754 13,661,922 13,457,148 13,360,797 2.7% 7.2%FHLB short-term borrowings 625,000 765,000 1,040,000 700,000 800,000 (18.3)% (21.9)%Other 130,452 46,653 139,172 162,145 137,814 179.6% (5.3)%Total short-term borrowings 755,452 811,653 1,179,172 862,145 937,814 (6.9)% (19.4)%Long-term debt 347,509 344,086 338,556 343,236 344,115 1.0% 1.0%Total borrowed funds 1,102,961 1,155,739 1,517,728 1,205,381 1,281,929 (4.6)% (14.0)%Accrued interest and other liabilities 700,121 592,401 660,091 649,706 622,200 18.2% 12.5%Total Liabilities 16,132,220 15,695,894 15,839,741 15,312,235 15,264,926 2.8% 5.7%SHAREHOLDERS' EQUITYCommon stock 1,642,055 1,639,045 1,635,705 1,632,971 1,638,972 0.2% 0.2%Retained earnings 1,276,329 1,234,375 1,204,844 1,166,065 1,136,718 3.4% 12.3%Accumulated other comprehensive income (loss) (289,799) (232,262) (323,409) (321,109) (309,819) 24.8% (6.5)%Treasury stock, at cost (190,544) (190,720) (190,701) (190,924) (197,897) (0.1)% (3.7)%Total Shareholders' Equity 2,438,041 2,450,438 2,326,439 2,287,003 2,267,974 (0.5)% 7.5%Total Liabilities and Shareholders' Equity $ 18,570,261 $ 18,146,332 $ 18,166,180 $ 17,599,238 $ 17,532,900 2.3% 5.9%

FIRST FINANCIAL BANCORP.AVERAGE CONSOLIDATED STATEMENTS OF CONDITION(Dollars in thousands)(Unaudited) Quarterly Averages Year-to-Date Averages Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, Dec. 31, 2024 2024 2024 2024 2023 2024 2023ASSETSCash and due from banks $ 182,242 $ 179,321 $ 174,435 $ 204,119 $ 214,678 $ 185,006 $ 216,625Interest-bearing deposits with other banks 654,251 483,880 599,348 553,654 548,153 572,763 396,089Investment securities 3,372,539 3,274,498 3,131,541 3,137,665 3,184,408 3,229,577 3,442,233Loans held for sale 17,284 16,399 14,075 12,069 12,547 14,967 11,369Loans and leasesCommercial and industrial 3,727,549 3,723,761 3,716,083 3,543,475 3,422,381 3,677,979 3,447,984Lease financing 587,110 550,634 509,758 480,540 419,179 532,212 342,243Construction real estate 826,936 763,779 683,780 603,974 540,314 720,031 535,715Commercial real estate 4,045,347 4,059,939 4,146,764 4,101,238 4,060,733 4,088,127 4,038,457Residential real estate 1,442,799 1,399,932 1,361,133 1,336,749 1,320,670 1,385,351 1,220,138Home equity 837,863 811,265 790,384 765,410 750,925 801,358 735,236Installment 136,927 143,102 151,753 157,663 160,242 147,321 175,447Credit card 66,071 65,189 67,200 65,066 64,037 65,880 59,998Total loans 11,670,602 11,517,601 11,426,855 11,054,115 10,738,481 11,418,259 10,555,218Less:Allowance for credit losses (161,477) (159,252) (147,666) (143,950) (149,398) (153,126) (145,472)Net loans 11,509,125 11,358,349 11,279,189 10,910,165 10,589,083 11,265,133 10,409,746Premises and equipment 197,664 197,881 199,096 198,482 194,435 198,278 192,414Operating leases 202,110 180,118 156,457 154,655 139,331 173,432 129,631Goodwill 1,007,658 1,007,654 1,007,657 1,006,477 1,005,870 1,007,363 1,005,805Other intangibles 80,486 82,619 84,577 84,109 85,101 82,940 88,724Accrued interest and other assets 1,050,060 1,073,472 1,081,876 1,044,826 1,151,349 1,062,555 1,104,587Total Assets $ 18,273,419 $ 17,854,191 $ 17,728,251 $ 17,306,221 $ 17,124,955 $ 17,792,014 $ 16,997,223LIABILITIESDepositsInterest-bearing demand $ 3,081,148 $ 2,914,934 $ 2,888,252 $ 2,895,768 $ 2,988,086 $ 2,945,315 $ 2,932,477Savings 4,886,784 4,694,923 4,617,658 4,399,768 4,235,658 4,650,554 3,932,100Time 3,209,078 3,080,408 2,980,158 2,813,880 2,611,075 3,021,558 2,397,289Total interest-bearing deposits 11,177,010 10,690,265 10,486,068 10,109,416 9,834,819 10,617,427 9,261,866Noninterest-bearing 3,162,643 3,106,239 3,144,198 3,169,750 3,368,024 3,145,646 3,617,961Total deposits 14,339,653 13,796,504 13,630,266 13,279,166 13,202,843 13,763,073 12,879,827Federal funds purchased and securities soldunder agreements to repurchase 2,282 10,807 750 4,204 3,586 4,522 15,583FHLB short-term borrowings 415,652 626,490 669,111 646,187 554,826 588,987 845,666Other 93,298 76,859 161,913 146,127 185,221 119,361 158,221Total short-term borrowings 511,232 714,156 831,774 796,518 743,633 712,870 1,019,470Long-term debt 343,851 339,581 339,472 342,496 340,321 341,352 340,950Total borrowed funds 855,083 1,053,737 1,171,246 1,139,014 1,083,954 1,054,222 1,360,420Accrued interest and other liabilities 637,638 632,825 645,699 622,479 693,676 634,663 627,225Total Liabilities 15,832,374 15,483,066 15,447,211 15,040,659 14,980,473 15,451,958 14,867,472SHAREHOLDERS' EQUITYCommon stock 1,640,280 1,637,045 1,634,183 1,637,835 1,637,197 1,637,343 1,633,992Retained earnings 1,249,263 1,210,924 1,179,827 1,144,447 1,111,786 1,196,301 1,053,441Accumulated other comprehensive loss (257,792) (285,978) (341,941) (319,601) (406,265) (301,167) (358,870)Treasury stock, at cost (190,706) (190,866) (191,029) (197,119) (198,236) (192,421) (198,812)Total Shareholders' Equity 2,441,045 2,371,125 2,281,040 2,265,562 2,144,482 2,340,056 2,129,751Total Liabilities and Shareholders' Equity $ 18,273,419 $ 17,854,191 $ 17,728,251 $ 17,306,221 $ 17,124,955 $ 17,792,014 $ 16,997,223

FIRST FINANCIAL BANCORP.NET INTEREST MARGIN RATE/VOLUME ANALYSIS(Dollars in thousands)(Unaudited) Quarterly Averages Year-to-Date Averages December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Balance Interest Yield Balance Interest Yield Balance Interest Yield Balance Yield Balance YieldEarning assetsInvestments:Investment securities $ 3,372,539 $ 36,401 4.28% $ 3,274,498 $ 34,983 4.24% $ 3,184,408 $ 33,696 4.20% $ 3,229,577 4.20% $ 3,442,233 4.05%Interest-bearing deposits with other banks 654,251 7,662 4.65% 483,880 6,703 5.50% 548,153 7,325 5.30% 572,763 5.20% 396,089 5.00%Gross loans (1) 11,687,886 207,508 7.04% 11,534,000 215,433 7.41% 10,751,028 197,416 7.29% 11,433,226 7.32% 10,566,587 7.04%Total earning assets 15,714,676 251,571 6.35% 15,292,378 257,119 6.67% 14,483,589 238,437 6.53% 15,235,566 6.58% 14,404,909 6.27%Nonearning assetsAllowance for credit losses (161,477) (159,252) (149,398) (153,126) (145,472)Cash and due from banks 182,242 179,321 214,678 185,006 216,625Accrued interest and other assets 2,537,978 2,541,744 2,576,086 2,524,568 2,521,161Total assets $ 18,273,419 $ 17,854,191 $ 17,124,955 $ 17,792,014 $ 16,997,223Interest-bearing liabilitiesDeposits:Interest-bearing demand $ 3,081,148 $ 15,092 1.94% $ 2,914,934 $ 15,919 2.17% $ 2,988,086 $ 14,480 1.92% $ 2,945,315 2.07% $ 2,932,477 1.45%Savings 4,886,784 33,924 2.75% 4,694,923 34,220 2.89% 4,235,658 26,632 2.49% 4,650,554 2.81% 3,932,100 1.73%Time 3,209,078 36,425 4.50% 3,080,408 36,415 4.69% 2,611,075 28,081 4.27% 3,021,558 4.62% 2,397,289 3.81%Total interest-bearing deposits 11,177,010 85,441 3.03% 10,690,265 86,554 3.21% 9,834,819 69,193 2.79% 10,617,427 3.12% 9,261,866 2.18%Borrowed fundsShort-term borrowings 511,232 6,586 5.11% 714,156 9,932 5.52% 743,633 10,277 5.48% 712,870 5.45% 1,019,470 5.24%Long-term debt 343,851 5,145 5.94% 339,581 5,073 5.93% 340,321 5,202 6.06% 341,352 5.90% 340,950 5.82%Total borrowed funds 855,083 11,731 5.44% 1,053,737 15,005 5.65% 1,083,954 15,479 5.67% 1,054,222 5.60% 1,360,420 5.38%Total interest-bearing liabilities 12,032,093 97,172 3.20% 11,744,002 101,559 3.43% 10,918,773 84,672 3.08% 11,671,649 3.34% 10,622,286 2.59%Noninterest-bearing liabilitiesNoninterest-bearing demand deposits 3,162,643 3,106,239 3,368,024 3,145,646 3,617,961Other liabilities 637,638 632,825 693,676 634,663 627,225Shareholders' equity 2,441,045 2,371,125 2,144,482 2,340,056 2,129,751Total liabilities & shareholders' equity $ 18,273,419 $ 17,854,191 $ 17,124,955 $ 17,792,014 $ 16,997,223Net interest income $ 154,399 $ 155,560 $ 153,765 $ 612,010 $ 627,770Net interest spread 3.15% 3.24% 3.45% 3.24% 3.68%Net interest margin 3.91% 4.05% 4.21% 4.02% 4.36%Tax equivalent adjustment 0.03% 0.03% 0.05% 0.03% 0.04%Net interest margin (fully tax equivalent) 3.94% 4.08% 4.26% 4.05% 4.40%(1) Loans held for sale and nonaccrual loans are included in gross loans.

FIRST FINANCIAL BANCORP.NET INTEREST MARGIN RATE/VOLUME ANALYSIS (1)(Dollars in thousands)(Unaudited) Linked Qtr. Income Variance Comparable Qtr. Income Variance Year-to-Date Income Variance Rate Volume Total Rate Volume Total Rate Volume TotalEarning assetsInvestment securities $ 360 $ 1,058 $ 1,418 $ 674 $ 2,031 $ 2,705 $ 5,290 $ (8,940) $ (3,650)Interest-bearing deposits with other banks (1,036) 1,995 959 (906) 1,243 337 783 9,187 9,970Gross loans (2) (10,657) 2,732 (7,925) (6,541) 16,633 10,092 29,361 63,410 92,771Total earning assets (11,333) 5,785 (5,548) (6,773) 19,907 13,134 35,434 63,657 99,091Interest-bearing liabilitiesTotal interest-bearing deposits $ (4,834) $ 3,721 $ (1,113) $ 5,988 $ 10,260 $ 16,248 $ 86,810 $ 42,272 $ 129,082Borrowed fundsShort-term borrowings (732) (2,614) (3,346) (697) (2,994) (3,691) 2,190 (16,712) (14,522)Long-term debt 8 64 72 (110) 53 (57) 267 24 291Total borrowed funds (724) (2,550) (3,274) (807) (2,941) (3,748) 2,457 (16,688) (14,231)Total interest-bearing liabilities (5,558) 1,171 (4,387) 5,181 7,319 12,500 89,267 25,584 114,851Net interest income (1) $ (5,775) $ 4,614 $ (1,161) $ (11,954) $ 12,588 $ 634 $ (53,833) $ 38,073 $ (15,760)(1) Not tax equivalent.(2) Loans held for sale and nonaccrual loans are included in gross loans.

FIRST FINANCIAL BANCORP.CREDIT QUALITY(Dollars in thousands)(Unaudited) Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, Full Year Full Year 2024 2024 2024 2024 2023 2024 2023ALLOWANCE FOR CREDIT LOSS ACTIVITYBalance at beginning of period $ 158,831 $ 156,185 $ 144,274 $ 141,433 $ 145,201 $ 141,433 $ 132,977Provision for credit losses 9,705 9,930 16,157 13,419 8,804 49,211 43,074Gross charge-offsCommercial and industrial 4,333 5,471 2,149 2,695 6,866 14,648 19,175Lease financing 2,831 368 190 3 4,244 3,392 4,423Construction real estate 0 0 0 0 0 0 0Commercial real estate 5,051 261 2 5,319 1 10,633 8,723Residential real estate 12 60 6 65 9 143 39Home equity 210 90 122 25 174 447 340Installment 1,680 1,510 2,034 2,236 2,054 7,460 6,442Credit card 492 768 532 794 363 2,586 1,173Total gross charge-offs 14,609 8,528 5,035 11,137 13,711 39,309 40,315RecoveriesCommercial and industrial 1,779 434 236 162 459 2,611 1,534Lease financing 17 11 1 59 52 88 55Construction real estate 0 0 0 0 0 0 0Commercial real estate 19 25 137 38 93 219 2,523Residential real estate 23 22 37 24 24 106 247Home equity 222 240 118 80 178 660 615Installment 499 421 219 145 210 1,284 441Credit card 305 91 41 51 123 488 282Total recoveries 2,864 1,244 789 559 1,139 5,456 5,697Total net charge-offs 11,745 7,284 4,246 10,578 12,572 33,853 34,618Ending allowance for credit losses $ 156,791 $ 158,831 $ 156,185 $ 144,274 $ 141,433 $ 156,791 $ 141,433NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)Commercial and industrial 0.27% 0.54% 0.21% 0.29% 0.74% 0.33% 0.51%Lease financing 1.91% 0.26% 0.15% (0.05)% 3.97% 0.62% 1.28%Construction real estate 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%Commercial real estate 0.49% 0.02% (0.01)% 0.52% (0.01)% 0.25% 0.15%Residential real estate 0.00% 0.01% (0.01)% 0.01% 0.00% 0.00% (0.02)%Home equity (0.01)% (0.07)% 0.00% (0.03)% 0.00% (0.03)% (0.04)%Installment 3.43% 3.03% 4.81% 5.33% 4.57% 4.19% 3.42%Credit card 1.13% 4.13% 2.94% 4.59% 1.49% 3.18% 1.49%Total net charge-offs 0.40% 0.25% 0.15% 0.38% 0.46% 0.30% 0.33%COMPONENTS OF NONACCRUAL LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETSNonaccrual loansCommercial and industrial $ 6,641 $ 10,703 $ 17,665 $ 14,532 $ 15,746 $ 6,641 $ 15,746Lease financing 6,227 11,632 5,374 3,794 3,610 6,227 3,610Construction real estate 0 0 0 0 0 0 0Commercial real estate 32,303 23,608 22,942 23,055 27,984 32,303 27,984Residential real estate 16,700 14,596 12,715 12,836 14,067 16,700 14,067Home equity 3,418 4,074 3,295 4,036 3,476 3,418 3,476Installment 684 826 682 984 870 684 870Total nonaccrual loans 65,973 65,439 62,673 59,237 65,753 65,973 65,753Other real estate owned (OREO) 64 30 30 161 106 64 106Total nonperforming assets 66,037 65,469 62,703 59,398 65,859 66,037 65,859Accruing loans past due 90 days or more 361 463 1,573 820 2,028 361 2,028Total underperforming assets $ 66,398 $ 65,932 $ 64,276 $ 60,218 $ 67,887 $ 66,398 $ 67,887Total classified assets $ 224,084 $ 206,194 $ 195,277 $ 162,348 $ 140,995 $ 224,084 $ 140,995CREDIT QUALITY RATIOSAllowance for credit losses toNonaccrual loans 237.66% 242.72% 249.21% 243.55% 215.10% 237.66% 215.10%Total ending loans 1.33% 1.37% 1.36% 1.29% 1.29% 1.33% 1.29%Nonaccrual loans to total loans 0.56% 0.57% 0.54% 0.53% 0.60% 0.56% 0.60%Nonperforming assets toEnding loans, plus OREO 0.56% 0.57% 0.54% 0.53% 0.60% 0.56% 0.60%Total assets 0.36% 0.36% 0.35% 0.34% 0.38% 0.36% 0.38%Classified assets to total assets 1.21% 1.14% 1.07% 0.92% 0.80% 1.21% 0.80%

FIRST FINANCIAL BANCORP.CAPITAL ADEQUACY(Dollars in thousands, except per share data)(Unaudited) Three Months Ended, Twelve months ended, Dec. 31, Sep. 30, June 30, Mar. 31, Dec. 31, Dec. 31, Dec. 31, 2024 2024 2024 2024 2023 2024 2023PER COMMON SHAREMarket PriceHigh $ 30.34 $ 28.09 $ 23.78 $ 23.68 $ 24.28 $ 30.34 $ 26.24Low $ 23.98 $ 21.70 $ 20.79 $ 21.04 $ 17.37 $ 20.79 $ 17.37Close $ 26.88 $ 25.23 $ 22.22 $ 22.42 $ 23.75 $ 26.88 $ 23.75Average shares outstanding – basic 94,486,838 94,473,666 94,438,235 94,218,067 94,063,570 94,404,617 93,938,772Average shares outstanding – diluted 95,487,564 95,479,510 95,470,093 95,183,998 95,126,316 95,405,719 95,096,067Ending shares outstanding 95,494,840 95,486,317 95,486,010 95,473,595 95,141,244 95,494,840 95,141,244Total shareholders' equity $ 2,438,041 $ 2,450,438 $ 2,326,439 $ 2,287,003 $ 2,267,974 $ 2,438,041 $ 2,267,974REGULATORY CAPITAL Preliminary PreliminaryCommon equity tier 1 capital $ 1,709,422 $ 1,661,759 $ 1,626,345 $ 1,582,113 $ 1,568,815 $ 1,709,422 $ 1,568,815Common equity tier 1 capital ratio 12.16% 12.04% 11.78% 11.67% 11.73% 12.16% 11.73%Tier 1 capital $ 1,754,584 $ 1,706,796 $ 1,671,258 $ 1,626,899 $ 1,613,480 $ 1,754,584 $ 1,613,480Tier 1 ratio 12.48% 12.37% 12.11% 12.00% 12.06% 12.48% 12.06%Total capital $ 2,028,099 $ 2,012,349 $ 1,997,378 $ 1,940,762 $ 1,907,441 $ 2,028,099 $ 1,907,441Total capital ratio 14.43% 14.58% 14.47% 14.31% 14.26% 14.43% 14.26%Total capital in excess of minimum requirement $ 551,881 $ 563,273 $ 548,037 $ 516,704 $ 503,152 $ 551,881 $ 503,152Total risk-weighted assets $ 14,059,215 $ 13,800,728 $ 13,803,249 $ 13,562,455 $ 13,374,177 $ 14,059,215 $ 13,374,177Leverage ratio 9.98% 9.93% 9.73% 9.75% 9.70% 9.98% 9.70%OTHER CAPITAL RATIOSEnding shareholders' equity to ending assets 13.13% 13.50% 12.81% 12.99% 12.94% 13.13% 12.94%Ending tangible shareholders' equity to ending tangible 7.73% 7.98% 7.23% 7.23% 7.17% 7.73% 7.17%assets (1)Average shareholders' equity to average assets 13.36% 13.28% 12.87% 13.09% 12.52% 13.15% 12.53%Average tangible shareholders' equity to average tangible 7.87% 7.64% 7.15% 7.25% 6.57% 7.48% 6.51%assets (1)REPURCHASE PROGRAM (2)Shares repurchased 0 0 0 0 0 0 0Average share repurchase price N/A N/A N/A N/A N/A N/A N/ATotal cost of shares repurchased N/A N/A N/A N/A N/A N/A N/A

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SOURCE First Financial Bancorp.

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