AcquisitionsMay 8, 2026, 02:37 PM
First Financial Bancorp Q1 Net Income $74.4M; BankFinancial Acquisition
AI Summary
First Financial Bancorp reported a significant increase in net income and earnings per share for the first quarter of 2026, largely driven by a gain on bargain purchase of $8.892 million from the BankFinancial acquisition. The company also saw substantial growth in total assets and deposits. Net interest income and noninterest income both experienced strong year-over-year increases.
Key Highlights
- BankFinancial acquisition resulted in an $8.892 million gain on bargain purchase.
- Net income for Q1 2026 increased 45.1% to $74.4 million from $51.3 million in Q1 2025.
- Basic earnings per share for Q1 2026 rose 33.3% to $0.72 from $0.54 in Q1 2025.
- Total assets grew 7.8% to $22.78 billion at March 31, 2026, from $21.13 billion at December 31, 2025.
- Total deposits increased 9.1% to $17.92 billion at March 31, 2026, from $16.42 billion at December 31, 2025.
- Net interest income for Q1 2026 increased 27.0% to $189.6 million from $149.3 million in Q1 2025.
- Total noninterest income for Q1 2026 increased 60.3% to $81.9 million from $51.1 million in Q1 2025.
- Common stock valued at $149.65 million was issued in connection with business combinations.