- First Financial Bancorp (FFBC, Financial) reported Q1 2025 net income of $51.3 million, or $0.54 per diluted share, with an adjusted EPS of $0.63.
- The company maintained a strong net interest margin of 3.88% on a tax-equivalent basis, despite a 6 basis point decline from Q4 2024.
- Tangible book value per share increased by 4.6% from the previous quarter, reaching $14.80.
First Financial Bancorp (FFBC) announced its financial results for the first quarter of 2025, showcasing a net income of $51.3 million. This equates to $0.54 per diluted share and $0.63 adjusted. The bank managed to achieve a return on average assets of 1.13% and sustained a commendable net interest margin of 3.88% on a fully tax-equivalent basis. However, this marked a slight decline from Q4 2024.
In terms of its financial stability, FFBC reported noninterest income of $51.1 million, climbing to $61.0 million when adjusted. Noninterest expenses saw a slight decrease of 3.3% to $126.6 million (adjusted). Additionally, the bank maintained stable loan balances, indicating strong asset quality with nonperforming assets reducing to 0.32%.
The bank's total capital ratio saw an increase to 14.90%, while the tangible book value per share experienced a rise to $14.80, reflecting a 4.6% increase from the previous quarter and 18% over the past year. These improvements are further bolstered by the bank winning the Gallup Exceptional Workplace Award and receiving an "Outstanding" CRA rating.
