First Financial Bancorp (FFBC) Q3 2025 earnings summary

Executive summary

• Adjusted net income for Q3 2025 was $72.6 million ($0.76 EPS), with reported net income of $71.9 million, record revenue, and robust net interest margin and noninterest income.

• Achieved 140th consecutive quarter of profitability, with strong asset quality and stable non-performing assets.

• Completed or announced acquisitions of Westfield Bancorp and BankFinancial, expanding presence in Northeast Ohio and Chicago.

• Maintains a premier Midwest franchise with top quartile profitability and robust capital position.

• Tangible book value per share rose to $16.19, up 5% from the prior quarter and 14% year-over-year.

Financial highlights

• Net interest margin (FTE) was 4.02% in Q3 2025, down three basis points from Q2; net interest income reached $160.5 million.

• Noninterest income hit a record $73.5 million, led by leasing and foreign exchange businesses.

• Noninterest expenses increased due to higher incentive compensation tied to strong fee income.

• Average deposit balances increased $157 million, driven by brokered CDs and money market accounts.

• End-of-period assets were $18.6 billion; loans $11.7 billion; deposits $14.4 billion.

Outlook and guidance

• Q4 loan growth expected in the mid-single digits annualized, excluding Westfield; strong commercial and Summit verticals to drive growth.

• Net interest margin projected between 3.92% and 3.97%, assuming two 25 basis point rate cuts.

• Fee income guidance for Q4 is $77–$79 million, with $18–$20 million from FX and $21–$23 million from leasing.

• Noninterest expense expected at $142–$144 million, including $8 million from Westfield.

• Most cost savings from Westfield integration expected to materialize by mid-2026.