First Financial Bancorp.
FFBCNASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $32.89 Prior regular-session close from the quote source.
- $32.56–$32.87 Regular-session low and high so far today.
- 419.5K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Jan 27 projected Projected for 2027-01-27 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $23.16–$36.25 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own FFBC if its Ohio-centered relationship-banking franchise can keep funding disciplined loan growth without credit costs or deposit competition eroding the spread economics.
FFBC price history
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Investment thesis
What must happen next
FFBC’s local relationship-banking franchise continues to attract and retain enough customer funding and lending relationships that balance-sheet growth converts into spread and fee revenue, rather than being competed away by larger banks and online deposit gatherers.StrengtheningMateriality: High
GAAP annual revenue, defined in the data as net interest income plus noninterest income, increased to $899.5 million in FY2025 from $835.6 million in FY2024 and $623.6 million in FY2021. If the funding relationship holds, revenue can grow with the balance sheet; if it breaks, asset growth becomes lower-quality and margin-destructive.
Watch: Fifth Third, Huntington, PNC, U.S. Bancorp, or online banks raise deposit rates aggressively in FFBC’s core markets and pull away customer balances before reported revenue weakens.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue, defined in the data as net interest income plus noninterest income, increased to $899.5 million in FY2025.
Open source ↗Management continues to expand the bank’s earning-asset base without allowing leverage or capital pressure to undermine the franchise.StrengtheningMateriality: High
GAAP stockholders’ equity increased to $2.77 billion at FY2025 year-end from $2.44 billion at FY2024 year-end and $2.04 billion at FY2022 year-end. For a bank, asset growth only creates owner value if it is supported by capital; otherwise growth can lead to regulatory pressure, dilution, or curtailed returns.
Watch: Management pursues an acquisition or loan-growth push that consumes capital faster than earnings rebuild it.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP stockholders’ equity increased to $2.77 billion at FY2025 year-end from $2.44 billion at FY2024 year-end and $2.04 billion at.
Open source ↗FFBC’s underwriting and portfolio mix remain good enough that credit costs do not consume the benefits of asset growth and customer spread income.HoldingMateriality: Medium
GAAP annual net income was $255.6 million in FY2025, up from $228.8 million in FY2024 and roughly in line with $255.9 million in FY2023. This is the main downside lever for a regional bank: the same loans that drive revenue can destroy book value if credit losses arrive late in the cycle.
Watch: A downturn in Ohio and surrounding regional commercial activity causes small-business borrowers to miss payments before reported earnings fully reflect losses.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual net income was $255.6 million in FY2025, up from $228.8 million in FY2024 and roughly in line with.
Open source ↗The bank’s added scale and customer relationships continue to reach shareholders through per-share earnings, rather than being absorbed by higher expenses, technology catch-up costs, or dilution.HoldingMateriality: Medium
GAAP diluted EPS was $2.66 in FY2025, up from $2.40 in FY2024 and $2.14 in FY2021. Owners are paid on per-share economics; a larger bank that cannot grow EPS is not compounding value.
Watch: Digital banking demands force FFBC to spend materially more to keep up with Fifth Third, Huntington, PNC, or fintech alternatives, preventing scale benefits from reaching EPS.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP diluted EPS was $2.66 in FY2025, up from $2.40 in FY2024 and $2.14 in FY2021.
Open source ↗
Full investment case & evidence
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Original research
FFBC’s local relationship-banking franchise continues to attract and retain enough customer funding and lending relationships that balance-sheet growth converts into spread and fee revenue, rather than being competed away by larger banks and online deposit gatherers. If the funding relationship holds, revenue can grow with the balance sheet; if it breaks, asset growth becomes lower-quality and margin-destructive.
Management continues to expand the bank’s earning-asset base without allowing leverage or capital pressure to undermine the franchise. For a bank, asset growth only creates owner value if it is supported by capital; otherwise growth can lead to regulatory pressure, dilution, or curtailed returns.
FFBC’s underwriting and portfolio mix remain good enough that credit costs do not consume the benefits of asset growth and customer spread income. This is the main downside lever for a regional bank: the same loans that drive revenue can destroy book value if credit losses arrive late in the cycle.
The bank’s added scale and customer relationships continue to reach shareholders through per-share earnings, rather than being absorbed by higher expenses, technology catch-up costs, or dilution. Owners are paid on per-share economics; a larger bank that cannot grow EPS is not compounding value.
All standing thesis claims
Original report summary
its Ohio-centered relationship-banking franchise can keep funding disciplined loan growth without credit costs or deposit competition eroding the spread economics.
Bull case and bear case
Bull case and bear case for First Financial Bancorp
Where the evidence on First Financial Bancorp stands: Holding on the latest evidence (Oct 21, 2026). Of its 4 thesis points, 2 strengthening and 2 holding.
Bull case: what the evidence supports
FFBC’s local relationship-banking franchise continues to attract and retain enough customer funding and lending relationships that balance-sheet growth converts into spread and fee revenue, rather than being competed away by larger banks and online deposit gatherers.
Management continues to expand the bank’s earning-asset base without allowing leverage or capital pressure to undermine the franchise.
FFBC’s underwriting and portfolio mix remain good enough that credit costs do not consume the benefits of asset growth and customer spread income.
The bank’s added scale and customer relationships continue to reach shareholders through per-share earnings, rather than being absorbed by higher expenses, technology catch-up costs, or dilution.
Bear case: what would count against it
Fifth Third, Huntington, PNC, U.S. Bancorp, or online banks raise deposit rates aggressively in FFBC’s core markets and pull away customer balances before reported revenue weakens.
Management pursues an acquisition or loan-growth push that consumes capital faster than earnings rebuild it.
A downturn in Ohio and surrounding regional commercial activity causes small-business borrowers to miss payments before reported earnings fully reflect losses.
Thesis-Break Engine
Thesis-break watch · First Financial Bancorp
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedDirector or principal officer change.
First Financial Bancorp filed an SEC 8-K on 2026-09-15: Director or principal officer change. It is a dated development that tests the current thesis.
- MixedRegulation FD disclosure.
First Financial Bancorp filed an SEC 8-K on 2026-07-27: Regulation FD disclosure. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
First Financial Bancorp filed an SEC 8-K on 2026-07-21: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Fifth Third, Huntington, PNC, U.S. Bancorp, or online banks raise deposit rates aggressively in FFBC’s core markets and pull away customer balances before reported revenue weakens.
- Management pursues an acquisition or loan-growth push that consumes capital faster than earnings rebuild it.
- A downturn in Ohio and surrounding regional commercial activity causes small-business borrowers to miss payments before reported earnings fully reflect losses.
- Digital banking demands force FFBC to spend materially more to keep up with Fifth Third, Huntington, PNC, or fintech alternatives, preventing scale benefits from reaching EPS.
FFBC news
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Financial statements
FFBC income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
FFBC: quick answers
- When does First Financial Bancorp (FFBC) report earnings next?
- First Financial Bancorp's next results are projected for January 27, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on October 27, 2026. Earnings calendar
- What is FFBC's short interest?
- As of October 30, 2026, 7.0M FFBC shares were sold short, 6.67% of its shares outstanding, up 5.1% from the count before. At the stock's average daily volume that is 7.5 days to cover. FINRA publishes the count twice a month. FFBC short interest history
- Have members of Congress traded FFBC?
- 1 trade in FFBC has been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed FFBC trade