First Financial Bancorp (FFBC) Q4 2025 earnings summary

Executive summary

• Achieved record adjusted earnings per share of $0.80 in Q4 and $2.92 for the full year 2025, with adjusted ROA of 1.52% and adjusted ROTCE of 20.3% in Q4.

• Completed acquisitions of Westfield (adding $2.1B in assets) and BankFinancial (adding $1.4B in assets), expanding Midwest presence.

• Maintained strong capital and asset quality metrics, with CET1 ratio of 11.32% and NPA/total assets at 0.48%.

• Board approved a quarterly dividend of $0.25 per share, payable March 16, 2026; 40% of Q4 earnings returned via dividend.

• Opened a new banking office in Grand Rapids and received a second consecutive Outstanding CRA rating and Gallup Exceptional Workplace Award.

Financial highlights

• Q4 2025 net income was $62.4M ($0.64 per diluted share); adjusted net income was $77.7M ($0.80 per share); full year adjusted net income was $281M ($2.92 per share).

• Record revenue of $921.8M for the year, up 8% year-over-year; Q4 adjusted revenue was $251.3M.

• Net interest margin (FTE) was 3.98% in Q4, down 4 bps from Q3 but among the highest in the peer group.

• Adjusted noninterest income reached $77.3M in Q4, up 5% sequentially, and $279.8M for the year, up 16% year-over-year.

• Tangible book value per share increased 11% to $15.74.

Outlook and guidance

• Projecting low single-digit organic loan growth (annualized) in Q1, ramping to 6%-8% for the full year, excluding acquisitions.

• Net interest margin expected between 3.94%-3.99% in Q1, assuming a 25 bps rate cut in March.

• Fee income guidance for Q1 is $71-$73M, with foreign exchange and leasing contributing $14-$16M and $19-$21M, respectively.

• Noninterest expense expected at $156-$158M in Q1, with cost savings from acquisitions to materialize later in 2026.

• Asset quality and capital levels expected to remain stable; integration of recent acquisitions to drive future growth.