First Financial Bancorp (FFBC) Q4 2025 earnings summary

Executive summary

• Achieved record adjusted earnings per share of $0.80 for Q4 and $2.92 for the full year 2025, with adjusted return on assets of 1.52% and adjusted return on tangible common equity of 20.3% in Q4.

• Achieved 141st consecutive quarter of profitability, with robust net interest margin in Q4 2025.

• Completed acquisitions of Westfield (Nov 2025) and BankFinancial (Jan 2026), expanding Midwest presence.

• Non-interest income reached record levels, led by wealth management, foreign exchange, and mortgage income.

• Board approved a quarterly dividend of $0.25 per share, payable March 16, 2026.

Financial highlights

• Q4 adjusted net income was $77.7 million ($0.80 per share); full-year adjusted net income was $281 million.

• Net interest margin for Q4 was 3.98%, down 4 basis points sequentially; full-year margin was 3.98%, down from 4.05% in 2024.

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

• Record revenue of nearly $922 million for 2025, an 8% increase year-over-year.

• Noninterest expenses (adjusted) rose 6.4% from Q3, mainly due to the Westfield acquisition.

Outlook and guidance

• Projecting low single-digit organic loan growth annualized in Q1 2026, ramping to 6%-8% for the full year, excluding acquisitions.

• Net interest margin expected between 3.94%–3.99% in Q1, assuming a 25 bp rate cut.

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

• Non-interest expense expected at $156-$158 million 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.