First Financial Bancorp (FFBC) Tops Q1 EPS by 5c

First Financial Bancorp (NASDAQ: FFBC) reported Q1 EPS of $0.52, $0.05 better than the analyst estimate of $0.47.

First quarter 2018 highlights include:

• Reported net income of $0.49 per diluted common share, 1.40% return on average assets and 17.17% return on average tangible common equity
  • Adjusted net income of $0.52 per share, 1.49% return on average assets and 18.24% return on average tangible common equity as detailed in the accompanying slide presentation
• Net interest income of $75.8 million, a $0.2 million increase compared to the linked quarter
  • Net interest margin increased 5 basis points from the linked quarter to 3.80% on a GAAP basis, 3.84% on a fully tax equivalent basis
• Noninterest expenses of $52.3 million, or $49.9 million as adjusted
  • Efficiency ratio of 56.4% for the first quarter; 53.8% as adjusted
• Loan balances increased $88.8 million, or 6.0% on an annualized basis compared to the linked quarter
• Stable credit performance with provision expense of $2.3 million; annualized net charge-offs of 13 basis points as a percentage of average loans

For earnings history and earnings-related data on First Financial Bancorp (FFBC) click here.

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