NASDAQ$FFBC

First Financial Bancorp · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported net income of $69.1 million, or $0.73 per diluted common share, driven by increase in net interest income and record fee income.

First Financial Bancorp reported a strong fourth quarter with earnings per diluted share of $0.73 and a return on average assets of 1.63%. The company experienced loan growth of $501.5 million and a 49 bp increase in net interest margin. Record quarterly revenue was driven by an increase in net interest income and record fee income, with strong credit quality indicated by net recoveries and declining nonperforming assets.

  • Earnings per diluted share were $0.73.
  • Return on average assets was 1.63%.
  • Net interest margin on FTE basis increased 49 bp from linked quarter to 4.47%.
  • Loan growth was $501.5 million, or 20.3% on an annualized basis.

Headline financials

Total Revenue

$214M

Previous: $156M+36.7%
EPS (adj)

$0.73

Previous: $0.58+25.9%
Efficiency Ratio

58.2%

Previous: 70.1%-17.0%
Net Interest Margin

4.5%

Previous: 3.2%+40.1%
Return on Average Assets

1.6%

No prior period
Tangible Book Value Per Share

$9.97

Previous: $12.26-18.7%
Total Capital Ratio

13.6%

No prior period
Nonperforming Assets to Total Assets

0.2%

No prior period
Capital Expenditures

$4.02M

Previous: $4.73M-15.1%
Free Cash Flow

$22.6M

Previous: $102M-77.8%
Net Income

$69.1M

Previous: $46.9M+47.2%
Operating Income

$79.5M

Previous: $54.6M+45.6%
Cash & Equivalents

$208M

Previous: $220M-5.7%
Total Assets

$17B

Previous: $16.3B+4.1%
Stock-Based Comp

$4.67M

Previous: $2.07M+126.0%

Revenue & EPS history

First Financial · Revenue · Quarterly

$214M

Q4 2022+36.7%vs Q4 2021
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Revenue by segment

First Financial · $15.3M total across 3 segments · Q3 2021

  • Foreign Exchange Income
    $9.19M
  • Bankcard Income
    $3.84M
  • Client Derivative Fees
    $2.27M

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

+0.0%

Avg return

Earnings day

+0.9%

Avg return

5 days after

+2.5%

Avg return

30 days after

52%

34 / 66 earnings

Positive

+7.1%

Q1 2018

Best reaction

-11.6%

Q3 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.5%+0.2%+2.8%
Q4 2025+5.8%+8.3%+3.2%
Q3 2025-0.9%-3.0%+0.5%
Q2 2025-1.1%+2.0%+4.1%
Q1 2025-4.5%-3.5%-0.0%
Q4 2024+1.8%+0.4%-3.0%
Q3 2024-4.3%+1.7%+17.2%
Q2 2024+6.8%+4.5%+1.8%
Q1 2024+0.1%-2.0%+0.2%
Q4 2023-2.5%-0.3%-6.9%
Q3 2023-8.3%-4.1%+7.7%
Q2 2023-5.4%-5.0%-10.4%
Q1 2023-0.9%-4.3%-9.0%
Q4 2022+4.9%+9.6%+8.4%
Q3 2022-0.8%+2.6%+6.3%
Q2 2022+2.9%+5.2%+12.0%
Q1 2022-5.8%-8.6%-11.1%
Q4 2021-2.4%-0.4%-1.7%
Q3 2021+2.0%+1.7%+2.8%
Q2 2021+0.0%+0.0%+4.6%
Q1 2021+4.1%+2.8%+8.5%
Q4 2020-3.9%+4.5%+17.6%
Q3 2020+4.7%+3.0%+21.1%
Q2 2020+6.2%+0.0%+1.9%
Q1 2020-1.2%+1.1%-7.8%
Q4 2019+0.2%+0.7%-0.8%
Q3 2019-3.0%-0.2%+0.3%
Q2 2019+3.3%+4.8%+2.4%
Q1 2019-1.2%-0.3%-6.6%
Q4 2018+0.2%+2.9%+8.3%
Q3 2018-11.6%-12.4%-2.7%
Q2 2018-1.4%-3.9%+0.0%
Q1 2018+7.1%+8.7%+10.1%
Q4 2017+3.7%+3.2%+2.5%
Q3 2017+4.6%+5.1%+1.5%
Q2 2017-7.6%-6.7%-12.2%
Q1 2017+6.2%+7.0%-4.0%
Q4 2016+2.4%+4.1%+4.8%
Q3 2016+0.5%+0.5%+19.5%
Q2 2016+3.2%+4.4%+5.2%
Q1 2016+0.5%
Q4 2015-2.8%
Q3 2015+3.8%
Q2 2015+3.9%
Q1 2015-4.7%
Q4 2014+0.5%
Q3 2014+5.3%
Q2 2014+2.0%
Q1 2014-1.6%
Q4 2013-0.5%
Q3 2013-0.8%
Q2 2013-0.7%
Q1 2013-0.5%
Q4 2012+1.3%
Q3 2012-3.8%
Q4 2011+0.5%
Q2 2012-1.6%
Q1 2012+2.3%
Q4 2009-0.7%
Q4 2010-0.7%
Q3 2011-6.1%
Q3 2010-6.1%
Q2 2010+0.1%
Q2 2011+0.1%
Q1 2010+2.2%
Q1 2011+2.2%

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