EXHIBIT 99.1

First Financial Bancorp Reports Third Quarter 2013 Financial Results

Cincinnati, Ohio - October 24, 2013 - First Financial Bancorp (Nasdaq: FFBC) (“First Financial” or the “Company”) announced today financial and operational results for the third quarter 2013.

Third quarter net income was $14.9 million and earnings per diluted common share were $0.26. This compares with second quarter net income of $15.8 million and earnings per diluted common share of $0.27 and third quarter 2012 net income of $16.2 million and earnings per diluted common share of $0.28.

▪ Quarterly adjusted pre-tax, pre-provision income of $26.4 million, or 1.69% of average assets

▪ Continued solid quarterly performance

• Quarterly results included several items which reduced earnings per diluted share by approximately $0.02

• Return on average assets of 0.96%; 1.05% as adjusted for the items noted below

• Return on average tangible common equity of 10.00%; 11.02% as adjusted for the items noted below

▪ Capital ratios remain strong

• Tangible common equity to tangible assets of 9.60%

• Tier 1 capital ratio of 15.26%

• Total risk-based capital ratio of 16.53%

▪ Total uncovered loan growth of 5.7% on an annualized basis

•Strong performance in traditional C&I / owner-occupied CRE and franchise lending

•Solid contributions from specialty finance and residential mortgage

▪ Quarterly net interest margin of 3.91%

• Decline of 11 bps compared to the linked quarter

• Resolution activity in the covered loans managed to exit portfolio drove a significant decline in covered loans and the FDIC indemnification asset, both of which negatively impacted the margin

▪ Net charge-offs declined $0.7 million, or 19.7%, compared to the linked quarter and totaled 34 bps of average uncovered loans for the quarter on an annualized basis

During the quarter, the Company incurred certain pre-tax expenses of $1.1 million resulting from its efficiency initiatives. Approximately $0.7 million was related to employee benefit expenses associated with staffing reductions and $0.3 million was related to expenses associated with real estate

consolidation and closure plans. Additionally, the Company incurred pre-tax pension settlement charges of $1.4 million resulting from employee-driven activity during the quarter. In the aggregate, these items reduced pre-tax earnings by $2.4 million, or approximately $0.02 per diluted share after taxes.

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The board of directors has authorized a dividend of $0.15 per common share for the next regularly scheduled dividend, payable on January 2, 2014 to shareholders of record as of November 29, 2013. The Company did not repurchase any shares of common stock during the third quarter as its one million share annual repurchase target was achieved as of June 30, 2013. The Company expects to resume execution of the share repurchase plan in the fourth quarter 2013.

The Company continued to make solid progress on its efficiency initiative during the quarter. Adjusting for expenses covered under loss sharing agreements, noninterest expense items discussed above and OREO costs, noninterest expense declined $3.6 million during the quarter. The Company estimates that it has achieved annualized run rate savings exceeding its annual target of $17.1 million as all initiatives have been implemented, and it remains on track to realize 85% of the annual target in 2013 results. In connection with execution of the current plan, the Company has identified additional initiatives that it is implementing in the fourth quarter 2013. These initiatives are expected to produce $5.0 million of added cost savings that will be realized in 2014 full year results across multiple expense categories.

Claude Davis, President and Chief Executive Officer, commented, “Our reported results for the quarter were impacted by declines in net interest income and net interest margin, driven primarily by increased resolution activity and payoffs in the covered loan portfolio, as well as a decline in fee revenue. However, strong expense management helped to offset these declines as adjusted pre-tax, pre-provision income was essentially flat compared to the prior quarter.

“We are very pleased with the progress we have made on our efficiency initiative. Our efforts to date have produced annualized run rate savings in excess of our original target, as demonstrated by our adjusted noninterest expense for the quarter. However, we know that is not enough given the competitive operating environment and continued low interest rates. We remain committed to delivering our products and services through an efficient operating model, balanced appropriately with investments in strategic growth initiatives, and are implementing newly identified efficiencies.

“We continued to generate loan growth as average uncovered loan balances increased $102.7 million, or 12.4% on an annualized basis, during the quarter and end of period balances were up $48.8 million, or 5.7% on an annualized basis. Similar to prior quarters, multiple product groups contributed to the growth, led by strong performance in our C&I / owner-occupied CRE and franchise finance portfolios, which increased $32.1 million and $14.0 million, respectively, compared to the linked quarter. We experienced a higher level of payoffs, as well as some anticipated late quarter production that slid into October, impacting the quarter end balances. However, when combined with the strong pipeline we had at the end of the third quarter, we feel optimistic that we will finish the year on a positive note.”

NET INTEREST INCOME AND NET INTEREST MARGIN

Net interest income for the third quarter was $55.8 million as compared to $58.1 million for the second quarter and $59.8 million for the third quarter 2012. Compared to the linked quarter, total interest income declined $2.8 million, or 4.5%, and total interest expense declined $0.5 million, or 11.4%. Net interest margin was 3.91% for the third quarter as compared to 4.02% for the second quarter and 4.21% for the third quarter 2012.

Interest income earned on loans decreased $2.1 million, or 3.8%, compared to the prior quarter. The lower interest income earned on loans and decline in net interest margin was driven primarily by an

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average balance decrease of $80.6 million, or 12.3%, on covered loans outstanding as well as a 37 bp decline in the yield earned on the portfolio. Additionally, the average balance of the FDIC indemnification asset declined $22.6 million, or 21.5%, during the quarter due to increased resolution activity, resulting in a 455 bp increase to the negative yield earned on the indemnification asset which further negatively impacted net interest income and margin.

Growth in average uncovered loan balances of $102.7 million, or 3.1% on a linked quarter basis, helped to partially offset the impact on net interest income from covered loans and FDIC indemnification asset activity during the quarter, although the impact on net interest margin was muted as the yield earned on the uncovered portfolio declined 13 bps during the quarter.

Interest income earned from investment securities declined only slightly during the quarter despite a decrease of $115.6 million, or 6.8%, in average balances as the yield earned on the portfolio increased 12 bps to 2.20%, helping to mitigate the impact of lower yields earned on loans.

Interest expense and net interest margin continued to benefit from declining deposit costs as well as a decrease in the average balance of interest-bearing deposits, which declined $138.6 million, or 3.7%, during the quarter. The cost of funds related to interest-bearing deposits decreased 4 bps to 31 bps compared to 35 bps for the linked quarter.

NONINTEREST INCOME

The following table presents noninterest income for the three months ended September 30, 2013 and for the trailing four quarters, adjusted to exclude the impact of covered loan activity and other select items on the Company’s reported balance.

Table I
	For the Three Months Ended
	September 30,		June 30,			March 31,		December 31,		September 30,
(Dollars in thousands)	2013		2013			2013		2012		2012
Total noninterest income	$	22,291	$	11,615		$	26,698	$	26,121	$	30,830
Selected components of noninterest income
Accelerated discount on covered loans 1	1,711		1,935			1,935		2,455		3,798
FDIC loss sharing income	5,555		(7,384		)	8,934		5,754		8,496
Gain on sale of investment securities	—		188			1,536		1,011		2,617
Other items not expected to recur	—		442			—		—		—
Total noninterest income excluding items noted above	$	15,025	$	16,434		$	14,293	$	16,901	$	15,919
1  Net of the corresponding valuation adjustment on the FDIC indemnification asset

Excluding the items highlighted in Table I, noninterest income earned in the third quarter was $15.0 million compared to $16.4 million in the second quarter and $15.9 million in the third quarter 2012. The decrease of $1.4 million compared to the linked quarter was driven by lower bankcard income, net gains on sales of residential mortgages, client derivative fees and a credit valuation adjustment related to client derivatives, partially offset by higher service charges on deposits.

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NONINTEREST EXPENSE

The following table presents noninterest expense for the three months ended September 30, 2013 and for the trailing four quarters, adjusted to exclude the impact of covered asset activity and other select items on the Company’s reported balance.

Table II
	For the Three Months Ended
	September 30,		June 30,			March 31,			December 31,			September 30,
(Dollars in thousands)	2013		2013			2013			2012			2012
Total noninterest expense	$	48,801	$	53,283		$	53,106		$	53,474		$	55,286
Selected components of noninterest expense
Loss (gain) - covered real estate owned	204		(2,212		)	(157		)	(54		)	(25		)
Loss sharing expense	1,724		1,578			2,286			2,305			3,584
Pension settlement charges	1,396		4,316			—			—			—
Expenses associated with efficiency initiative	1,051		1,518			2,878			952			351
Other items not expected to recur	—		—			390			—			—
Total noninterest income excluding items noted above	$	44,426	$	48,083		$	47,709		$	50,271		$	51,376
FDIC loss share support 1	$	841	$	795		$	776		$	798		$	951
1  Represents direct expenses associated with credit management and loan administration related to covered assets as well as compliance with FDIC loss sharing agreements; included in total noninterest expense excluding the items noted above and comprised of several noninterest expense line items; expected to recur but decline over time as assets covered under loss sharing agreements decrease

Excluding the items highlighted in Table II, noninterest expense in the third quarter was $44.4 million as compared to $48.1 million in the second quarter and $51.4 million in the third quarter 2012. The decrease of $3.7 million compared to the linked quarter was due primarily to lower salaries and employee benefits, occupancy costs, professional services expenses and other miscellaneous expenses. Expenses associated with the efficiency initiative and other staffing-related changes include $0.7 million of employee benefit expenses related to staffing reductions and $0.3 million of expenses associated with real estate consolidation and closure plans.

During the quarter, the Company recognized $1.4 million of pension settlement charges associated with recent employee-driven actions and the resulting lump-sum distributions from its pension plan.  Pension settlement charges are an acceleration of previously deferred costs that would have been recognized in future periods and are determined in accordance with FASB ASC Topic 715, Compensation - Retirement Benefits.  As First Financial has exceeded the annual accounting threshold for lump-sum distributions, it will recognize a proportionate share of any further lump-sum distributions from its pension plan as additional pension settlement charges through the remainder of 2013.

INCOME TAXES

For the third quarter, income tax expense was $7.6 million, resulting in an effective tax rate of 33.9%, compared with income tax expense of $6.5 million and an effective tax rate of 29.0% during the second quarter and $8.9 million and an effective tax rate of 35.4% during the third quarter 2012. The lower

second quarter tax rate resulted from a favorable tax reversal related to an intercompany tax obligation associated with an unconsolidated former Irwin subsidiary as well as other nonrecurring items associated with favorable tax changes and recent tax planning strategies. In the aggregate, these items reduced the Company’s second quarter income tax expense by $1.1 million.

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CREDIT QUALITY - EXCLUDING COVERED ASSETS

The following table presents certain credit quality metrics related to the Company’s uncovered loan portfolio as of September 30, 2013 and the trailing four quarters.

Table III
	As of or for the Three Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,
(Dollars in thousands)	2013			2013			2013			2012			2012
Total nonaccrual loans 1	$	57,926		$	62,011		$	64,452		$	65,041		$	62,421
Troubled debt restructurings - accruing	16,278			12,924			12,757			10,856			11,604
Total nonperforming loans	74,204			74,935			77,209			75,897			74,025
Total nonperforming assets	86,008			86,733			89,202			88,423			87,937
Nonperforming assets as a % of:
Period-end loans plus OREO	2.50		%	2.56		%	2.74		%	2.77		%	2.86		%
Total assets	1.38		%	1.38		%	1.40		%	1.36		%	1.41		%
Nonperforming assets ex. accruing TDRs as a % of:
Period-end loans plus OREO	2.03		%	2.17		%	2.34		%	2.43		%	2.48		%
Total assets	1.12		%	1.18		%	1.20		%	1.19		%	1.22		%
Nonperforming loans as a % of total loans	2.16		%	2.22		%	2.38		%	2.39		%	2.41		%
Provision for loan and lease losses - uncovered	$	1,413		$	2,409		$	3,041		$	3,882		$	3,613
Allowance for uncovered loan & lease losses	$	45,514		$	47,047		$	48,306		$	47,777		$	49,192
Allowance for loan & lease losses as a % of:
Total loans	1.33		%	1.39		%	1.49		%	1.50		%	1.60		%
Nonaccrual loans	78.6		%	75.9		%	75.0		%	73.5		%	78.8		%
Nonperforming loans	61.3		%	62.8		%	62.6		%	63.0		%	66.5		%
Total net charge-offs	$	2,946		$	3,668		$	2,512		$	5,297		$	5,373
Annualized net-charge-offs as a % of average
loans & leases	0.34		%	0.45		%	0.32		%	0.68		%	0.71		%
1  Includes nonaccrual troubled debt restructurings

Net Charge-offs

For the third quarter, net charge-offs declined $0.7 million, or 19.7%, to $2.9 million compared to the linked quarter. Significant charge-offs during the quarter included $1.7 million related to a commercial real estate credit and $1.1 million related to a valuation adjustment associated with a commercial loan, partially offset by a $1.2 million recovery associated with the payoff of a nonaccrual commercial loan.

Nonperforming Assets

Nonaccrual loans, including nonaccrual troubled debt restructurings, decreased $4.1 million, or 6.6%, to $57.9 million as of September 30, 2013 from $62.0 million as of June 30, 2013. The decline was primarily driven by resolution strategies related to two credits in the commercial and commercial real estate portfolios, totaling $3.1 million in the aggregate, as well as $5.9 million of payoffs related to four credits in the commercial and commercial real estate portfolios. This activity was partially offset by two commercial real estate credits, totaling $6.8 million in the aggregate, that were placed on nonaccrual status during the quarter.

Accruing troubled debt restructurings increased $3.4 million during the third quarter, driven by the addition of three commercial real estate credits totaling $2.0 million in the aggregate, primarily as a result of renewals and term extensions of performing loans that are experiencing operating cash flow stress but have strong underlying collateral and guarantor support.

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OREO totaled $11.8 million as of September 30, 2013 and was unchanged compared to the linked quarter as resolutions and valuation adjustments of $0.9 million were offset by an equal amount of additions during the quarter.

Classified assets as of September 30, 2013 declined $9.4 million, or 7.2%, to $120.4 million from $129.8 million for the linked quarter and decreased $13.0 million, or 9.7%, from $133.4 million as of September 30, 2012. Classified assets are defined by the Company as nonperforming assets plus performing loans internally rated substandard or worse.

Delinquent Loans

As of September 30, 2013, loans 30-to-89 days past due totaled $10.4 million, or 0.30% of period-end loans, as compared to $13.4 million, or 0.40%, as of June 30, 2013 and $17.0 million, or 0.55%, as of September 30, 2012. The decline of $3.0 million, or 22.5%, during the third quarter was driven primarily by a $1.8 million commercial real estate credit that was brought current by the borrower.

Provision for Loan & Lease Losses

Third quarter provision expense related to uncovered loans and leases was $1.4 million as compared to $2.4 million for the linked quarter and $3.6 million for the comparable year-over-year quarter. Provision expense is a result of the Company’s modeling efforts to estimate the period-end allowance for loan and lease losses.

LOANS (EXCLUDING COVERED LOANS)

The following table presents the loan portfolio, excluding covered loans, as of September 30, 2013, June 30, 2013 and September 30, 2012.

Table IV
	As of
	September 30, 2013				June 30, 2013				September 30, 2012
			Percent				Percent				Percent
(Dollars in thousands)	Balance		of Total		Balance		of Total		Balance		of Total
Commercial	$	960,016	28.0	%	$	940,420	27.8	%	$	834,858	27.2	%
Real estate - construction	90,089		2.6	%	97,246		2.9	%	91,897		3.0	%
Real estate - commercial	1,493,969		43.5	%	1,477,226		43.7	%	1,338,636		43.7	%
Real estate - residential	352,830		10.3	%	343,016		10.1	%	299,654		9.8	%
Installment	49,273		1.4	%	50,781		1.5	%	59,191		1.9	%
Home equity	373,839		10.9	%	370,206		10.9	%	368,876		12.0	%
Credit card	34,285		1.0	%	33,222		1.0	%	31,604		1.0	%
Lease financing	76,615		2.2	%	70,011		2.1	%	41,343		1.3	%
Total	$	3,430,916	100.0	%	$	3,382,128	100.0	%	$	3,066,059	100.0	%

Loans, excluding covered loans, totaled $3.4 billion as of September 30, 2013, increasing $48.8 million, or 5.7% on an annualized basis, compared to the linked quarter and $364.9 million, or 11.9%, compared to September 30, 2012. The increase relative to the linked quarter was driven by growth in traditional C&I and owner-occupied commercial real estate lending and franchise finance with additional contributions from specialty finance and residential mortgage lending.

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INVESTMENTS

The following table presents a summary of the total investment portfolio at September 30, 2013.

Table V
	As of September 30, 2013
	Held-to-		Available-for						% of
(Dollars in thousands)	Maturity		Sale		Other		Total		Portfolio
Debt obligations of the U.S. Government	$	—	$	21,923	$	—	$	21,923	1.4	%
Debt obligations of U.S. Government Agency	19,462		10,120		—		29,582		1.8	%
Residential Mortgage Backed Securities
Pass-through securities:
Agency fixed rate	89,807		130,819		—		220,626		13.8	%
Agency adjustable rate	136,872		33,219		—		170,091		10.6	%
Collateralized mortgage obligations:
Agency fixed rate	355,004		230,945		—		585,949		36.6	%
Agency variable rate	—		85,071		—		85,071		5.3	%
Agency collateralized and insured municipal securities	20,647		109,970		—		130,617		8.2	%
Commercial mortgage backed securities	45,956		106,477		—		152,433		9.5	%
Municipal bond securities	1,345		3,698		—		5,043		0.3	%
Corporate securities	—		62,554		—		62,554		3.9	%
Asset-backed securities	—		51,956		—		51,956		3.2	%
Regulatory stock	—		—		71,492		71,492		4.5	%
Other	—		7,995		4,453		12,448		0.8	%
	$	669,093	$	854,747	$	75,945	$	1,599,785	100.0	%

The investment portfolio decreased $30.8 million, or 1.9%, during the third quarter as $48.5 million of purchases was offset by amortizations and paydowns. As of September 30, 2013, the overall duration of

the investment portfolio was essentially flat at 4.1 years compared to 4.0 years as of June 30, 2013. The yield earned on the portfolio during the quarter increased 12 bps to 2.20% from 2.08% for the linked quarter, driven by the increase in interest rates and continued stabilization in premium amortization. Due to the increase in interest rates and a widening of spreads for fixed income securities during the quarter, the net unrealized loss included in accumulated other comprehensive loss related to the investment portfolio increased $4.0 million to $9.8 million as of September 30, 2013.

DEPOSITS

Non-time deposit balances totaled $3.8 billion as of September 30, 2013, increasing $11.0 million, or 0.3%, compared to the linked quarter. Increases in commercial balances of $83.4 million, driven by strong growth in noninterest-bearing deposits, were offset by declines of $60.9 million in consumer balances and $11.5 million in public fund balances.

Time deposit balances decreased $52.7 million, or 5.4%, compared to the linked quarter due primarily to a decline in consumer balances of $53.7 million driven by the continued low interest rate environment and seasonality.

The low interest rate environment continued to have a positive impact on the Company’s deposit costs as the total cost of deposit funding declined to 24 bps for the quarter, a decrease of 3 bps compared to the prior quarter and 21 bps compared to the third quarter 2012.

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CAPITAL MANAGEMENT

The following table presents First Financial’s regulatory and other capital ratios as of September 30, 2013, June 30, 2013 and September 30, 2012.

Table VI
	As of
	September 30,			June 30,			September 30,
	2013			2013			2012
Leverage Ratio	10.29		%	10.12		%	10.54		%
Tier 1 Capital Ratio	15.26		%	15.41		%	16.93		%
Total Risk-Based Capital Ratio	16.53		%	16.68		%	18.21		%
Ending tangible shareholders' equity
to ending tangible assets	9.60		%	9.62		%	9.99		%
Ending tangible common shareholders'
equity to ending tangible assets	9.60		%	9.62		%	9.99		%
Tangible book value per share	$	10.24		$	10.29		$	10.47

Shareholders’ equity decreased $3.4 million during the quarter due primarily to the change in the unrealized gain/loss related to the investment portfolio, which was also the primary driver in the modest decline in the Company’s tangible common equity ratio. The tier 1 capital and total risk-based capital ratios declined during the quarter due primarily to an increase in risk-weighted assets. Regulatory capital ratios as of September 30, 2013 are considered preliminary pending the filing of the Company’s regulatory reports.

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Teleconference / Webcast Information

First Financial’s executive management will host a conference call to discuss the Company’s financial and operating results on Friday, October 25, 2013 at 8:30 a.m. Eastern Time. Members of the public who would like to listen to the conference call should dial (888) 317-6016 (U.S. toll free), (855) 669-9657 (Canada toll free) or +1 (412) 317-6016 (International) (no passcode required). The number should be dialed five to ten minutes prior to the start of the conference call. The conference call will also be accessible as an audio webcast via the Investor Relations section of the Company’s website at www.bankatfirst.com. A replay of the conference call will be available beginning one hour after the completion of the live call through November 11, 2013 at (877) 344-7529 (U.S. toll free), (855) 669-9658 (Canada toll free) and +1 (412) 317-0088 (International); conference number 10035811. The webcast will be archived on the Investor Relations section of the Company’s website through October 25, 2014.

Press Release and Additional Information on Website

This press release as well as supplemental information and any non-GAAP reconciliations related to this release is available to the public through the Investor Relations section of First Financial’s website at www.bankatfirst.com/investor.

Forward-Looking Statement

Certain statements contained in this release which are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act (the ‘‘Act’’). In addition, certain statements in future filings by First Financial with the SEC, in press releases, and in oral and written statements made by or with the approval of First Financial which are not statements of historical fact constitute forward-looking statements within the meaning of the Act. Examples of forward-looking statements include, but are not limited to, projections of revenues, income or loss, earnings or loss per share, the payment or non-payment of dividends, capital structure and other financial items, statements of plans and objectives of First Financial or its management or board of directors and statements of future economic performances and statements of assumptions underlying such statements. Words such as ‘‘believes,’’ ‘‘anticipates,’’ “likely,” “expected,” ‘‘intends,’’ and other similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Management’s analysis contains forward-looking statements that are provided to assist in the understanding of anticipated future financial performance. However, such performance involves risks and uncertainties that may cause actual results to differ materially. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:

▪ management’s ability to effectively execute its business plan;

▪ the risk that the strength of the United States economy in general and the strength of the local economies in which we conduct operations may continue to deteriorate resulting in, among other things, a further deterioration in credit quality or a reduced demand for credit, including the resultant effect on our loan portfolio, allowance for loan and lease losses and overall financial performance;

▪ U.S. fiscal debt and budget matters;

▪ the ability of financial institutions to access sources of liquidity at a reasonable cost;

▪ the impact of recent upheaval in the financial markets and the effectiveness of domestic and international governmental actions taken in response, and the effect of such governmental actions on us, our competitors and counterparties, financial markets generally and availability of credit specifically, and the U.S. and international economies, including potentially higher FDIC premiums arising from increased payments from FDIC insurance funds as a result of depository institution failures;

▪ the effect of and changes in policies and laws or regulatory agencies (notably the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act);

▪ the effect of the current low interest rate environment or changes in interest rates on our net interest margin and our loan originations and securities holdings;

▪ our ability to keep up with technological changes;

▪ failure or breach of our operational or security systems or infrastructure, or those of our third party vendors and other service providers;

▪ our ability to comply with the terms of loss sharing agreements with the FDIC;

▪ mergers and acquisitions, including costs or difficulties related to the integration of acquired companies and the wind-down of non-strategic operations that may be greater than expected, such as the risks and

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uncertainties associated with the Irwin Mortgage Corporation bankruptcy proceedings and other acquired subsidiaries;

▪ the risk that exploring merger and acquisition opportunities may detract from management’s time and ability to successfully manage our Company;

▪ expected cost savings in connection with the consolidation of recent acquisitions may not be fully realized or realized within the expected time frames, and deposit attrition, customer loss and revenue loss following completed acquisitions may be greater than expected;

▪ our ability to increase market share and control expenses;

▪ the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies as well as the Financial Accounting Standards Board and the SEC;

▪ adverse changes in the creditworthiness of our borrowers and lessees, collateral values, the value of investment securities and asset recovery values, including the value of the FDIC indemnification asset and related assets covered by FDIC loss sharing agreements;

▪ adverse changes in the securities, debt and/or derivatives markets;

▪ our success in recruiting and retaining the necessary personnel to support business growth and expansion and maintain sufficient expertise to support increasingly complex products and services;

▪ monetary and fiscal policies of the Board of Governors of the Federal Reserve System (Federal Reserve) and the U.S. government and other governmental initiatives affecting the financial services industry;

▪ unpredictable natural or other disasters could have an adverse effect on us in that such events could materially disrupt our operations or our vendors’ operations or willingness of our customers to access the financial services we offer;

▪ our ability to manage loan delinquency and charge-off rates and changes in estimation of the adequacy of the allowance for loan losses; and

▪ the costs and effects of litigation and of unexpected or adverse outcomes in such litigation.

In addition, please refer to our Annual Report on Form 10-K for the year ended December 31, 2012, as well as our other filings with the SEC, for a more detailed discussion of these risks and uncertainties and other factors. Such forward-looking statements are meaningful only on the date when such statements are made, and First Financial undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such a statement is made to reflect the occurrence of unanticipated events.

About First Financial Bancorp

First Financial Bancorp is a Cincinnati, Ohio based bank holding company. As of September 30, 2013, the Company had $6.3 billion in assets, $3.9 billion in loans, $4.7 billion in deposits and $692 million in shareholders’ equity. The Company’s subsidiary, First Financial Bank, N.A., founded in 1863, provides banking and financial services products through its four lines of business: commercial, consumer, wealth management and mortgage. The commercial, consumer and mortgage units provide traditional banking services to business and retail clients. First Financial Wealth Management provides wealth planning, portfolio management, trust and estate, brokerage and retirement plan services and had approximately $2.6 billion in assets under management as of September 30, 2013. The Company’s strategic operating markets are located in Ohio, Indiana and Kentucky where it operates 110 banking centers. Additional information about the Company, including its products, services and banking locations is available at www.bankatfirst.com

Contact Information

Investors/AnalystsMedia

Kenneth LovikJenny Keighley

Senior Vice President, Investor Relations andAssistant Vice President, Media Relations Manager

Corporate Development(513) 979-5582

(513) 979-5837jennifer.keighley@bankatfirst.com

kenneth.lovik@bankatfirst.com

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Selected Financial Information

September 30, 2013

(unaudited)

Contents	Page
Consolidated Financial Highlights	2
Consolidated Statements of Income	3
Consolidated Quarterly Statements of Income	4 - 5
Consolidated Statements of Condition	6
Average Consolidated Statements of Condition	7
Net Interest Margin Rate / Volume Analysis	8 - 9
Credit Quality	10
Capital Adequacy	11
Supplemental Information on Covered Assets	12 - 14

FIRST FINANCIAL BANCORP.
CONSOLIDATED FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share data)
(Unaudited)
	Three Months Ended,															Nine months ended,
	Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Sep. 30,
	2013			2013			2013			2012			2012			2013			2012
RESULTS OF OPERATIONS
Net income	$	14,911		$	15,829		$	13,824		$	16,265		$	16,242		$	44,564		$	51,038
Net earnings per share - basic	$	0.26		$	0.28		$	0.24		$	0.28		$	0.28		$	0.78		$	0.88
Net earnings per share - diluted	$	0.26		$	0.27		$	0.24		$	0.28		$	0.28		$	0.77		$	0.87
Dividends declared per share	$	0.27		$	0.24		$	0.28		$	0.28		$	0.30		$	0.79		$	0.90
KEY FINANCIAL RATIOS
Return on average assets	0.96		%	1.01		%	0.88		%	1.03		%	1.05		%	0.95		%	1.08		%
Return on average shareholders' equity	8.53		%	9.02		%	7.91		%	9.06		%	9.01		%	8.49		%	9.56		%
Return on average tangible shareholders' equity	10.00		%	10.54		%	9.24		%	10.58		%	10.53		%	9.92		%	11.17		%
Net interest margin	3.91		%	4.02		%	4.04		%	4.27		%	4.21		%	3.99		%	4.40		%
Net interest margin (fully tax equivalent) (1)	3.95		%	4.06		%	4.07		%	4.29		%	4.23		%	4.03		%	4.42		%
Ending shareholders' equity as a percent of ending assets	11.07		%	11.08		%	11.05		%	10.93		%	11.48		%	11.07		%	11.48		%
Ending tangible shareholders' equity as a percent of:
Ending tangible assets	9.60		%	9.62		%	9.60		%	9.50		%	9.99		%	9.60		%	9.99		%
Risk-weighted assets	14.27		%	14.50		%	15.05		%	15.57		%	16.16		%	14.27		%	16.16		%
Average shareholders' equity as a percent of average assets	11.19		%	11.15		%	11.09		%	11.35		%	11.62		%	11.15		%	11.28		%
Average tangible shareholders' equity as a percent of
average tangible assets	9.71		%	9.70		%	9.65		%	9.88		%	10.12		%	9.69		%	9.80		%
Book value per share	$	11.99		$	12.05		$	12.09		$	12.24		$	12.24		$	11.99		$	12.24
Tangible book value per share	$	10.24		$	10.29		$	10.33		$	10.47		$	10.47		$	10.24		$	10.47
Tier 1 Ratio (2)	15.26		%	15.41		%	15.87		%	16.32		%	16.93		%	15.26		%	16.93		%
Total Capital Ratio (2)	16.53		%	16.68		%	17.15		%	17.60		%	18.21		%	16.53		%	18.21		%
Leverage Ratio (2)	10.29		%	10.12		%	10.00		%	10.25		%	10.54		%	10.29		%	10.54		%
AVERAGE BALANCE SHEET ITEMS
Loans (3)	$	3,410,102		$	3,313,731		$	3,205,781		$	3,107,760		$	3,037,734		$	3,310,619		$	3,004,302
Covered loans and FDIC indemnification asset	655,654			758,875			840,190			920,102			1,002,622			750,897			1,093,768
Investment securities	1,589,666			1,705,219			1,838,783			1,746,961			1,606,313			1,710,310			1,661,285
Interest-bearing deposits with other banks	4,010			13,890			3,056			5,146			11,390			6,989			47,260
Total earning assets	$	5,659,432		$	5,791,715		$	5,887,810		$	5,779,969		$	5,658,059		$	5,778,815		$	5,806,615
Total assets	$	6,193,722		$	6,310,602		$	6,391,049		$	6,294,084		$	6,166,667		$	6,297,735		$	6,326,272
Noninterest-bearing deposits	$	1,072,259		$	1,063,102		$	1,049,943		$	1,112,072		$	1,052,421		$	1,061,850		$	1,009,548
Interest-bearing deposits	3,654,311			3,792,891			3,785,402			3,912,854			4,013,148			3,743,721			4,255,239
Total deposits	$	4,726,570		$	4,855,993		$	4,835,345		$	5,024,926		$	5,065,569		$	4,805,571		$	5,264,787
Borrowings	$	667,706		$	644,058		$	735,327		$	439,308		$	257,340		$	682,116		$	218,225
Shareholders' equity	$	693,158		$	703,804		$	708,862		$	714,373		$	716,797		$	701,884		$	713,497
CREDIT QUALITY RATIOS (excluding covered assets)
Allowance to ending loans	1.33		%	1.39		%	1.49		%	1.5		%	1.6		%	1.33		%	1.6		%
Allowance to nonaccrual loans	78.57		%	75.87		%	74.95		%	73.46		%	78.81		%	78.57		%	78.81		%
Allowance to nonperforming loans	61.34		%	62.78		%	62.57		%	62.95		%	66.45		%	61.34		%	66.45		%
Nonperforming loans to total loans	2.16		%	2.22		%	2.38		%	2.39		%	2.41		%	2.16		%	2.41		%
Nonperforming assets to ending loans, plus OREO	2.50		%	2.56		%	2.74		%	2.77		%	2.86		%	2.5		%	2.86		%
Nonperforming assets to total assets	1.38		%	1.38		%	1.4		%	1.36		%	1.41		%	1.38		%	1.41		%
Net charge-offs to average loans (annualized)	0.34		%	0.45		%	0.32		%	0.68		%	0.71		%	0.37		%	0.83		%

(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% tax rate. Management believes that it is a standard practice in the banking industry to present net interest margin and net interest income on a fully tax equivalent basis. Therefore, management believes, these measures provide useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons.

(2) September 30, 2013 regulatory capital ratios are preliminary.

(3) Includes loans held for sale.

2

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
	Three months ended,								Nine months ended,
	Sep. 30,								Sep. 30,
	2013			2012			% Change		2013			2012			% Change
Interest income
Loans, including fees	$	52,908		$	59,536		(11.1	)%	$	163,955		$	189,362		(13.4	)%
Investment securities
Taxable	8,267			8,358			(1.1	)%	24,938			29,254			(14.8	)%
Tax-exempt	541			111			387.4	%	1,681			366			359.3	%
Total investment securities interest	8,808			8,469			4.0	%	26,619			29,620			(10.1	)%
Other earning assets	(2,185		)	(1,700		)	28.5	%	(5,213		)	(5,657		)	(7.8	)%
Total interest income	59,531			66,305			(10.2	)%	185,361			213,325			(13.1	)%
Interest expense
Deposits	2,856			5,730			(50.2	)%	10,000			19,827			(49.6	)%
Short-term borrowings	286			54			429.6	%	920			103			793.2	%
Long-term borrowings	617			675			(8.6	)%	1,925			2,030			(5.2	)%
Total interest expense	3,759			6,459			(41.8	)%	12,845			21,960			(41.5	)%
Net interest income	55,772			59,846			(6.8	)%	172,516			191,365			(9.8	)%
Provision for loan and lease losses - uncovered	1,413			3,613			(60.9	)%	6,863			15,235			(55.0	)%
Provision for loan and lease losses - covered	5,293			6,622			(20.1	)%	6,052			25,620			(76.4	)%
Net interest income after provision for loan and lease losses	49,066			49,611			(1.1	)%	159,601			150,510			6.0	%
Noninterest income
Service charges on deposit accounts	5,447			5,499			(0.9	)%	15,369			15,784			(2.6	)%
Trust and wealth management fees	3,366			3,374			(0.2	)%	10,813			10,542			2.6	%
Bankcard income	2,637			2,387			10.5	%	8,215			7,502			9.5	%
Net gains from sales of loans	751			1,319			(43.1	)%	2,546			3,391			(24.9	)%
FDIC loss sharing (loss) income	5,555			8,496			(34.6	)%	7,105			29,592			(76.0	)%
Accelerated discount on covered loans	1,711			3,798			(54.9	)%	5,581			11,207			(50.2	)%
Gain on sale of investment securities	0			2,617			(100.0	)%	1,724			2,617			(34.1	)%
Other	2,824			3,340			(15.4	)%	9,251			15,665			(40.9	)%
Total noninterest income	22,291			30,830			(27.7	)%	60,604			96,300			(37.1	)%
Noninterest expenses
Salaries and employee benefits	23,834			27,212			(12.4	)%	77,379			85,121			(9.1	)%
Pension settlement charges	1,396			0			N/M		5,712			0			N/M
Net occupancy	5,101			5,153			(1.0	)%	16,650			15,560			7.0	%
Furniture and equipment	2,213			2,332			(5.1	)%	6,834			6,899			(0.9	)%
Data processing	2,584			2,334			10.7	%	7,612			6,311			20.6	%
Marketing	1,192			1,592			(25.1	)%	3,271			3,984			(17.9	)%
Communication	865			788			9.8	%	2,479			2,595			(4.5	)%
Professional services	1,528			1,304			17.2	%	5,095			5,602			(9.1	)%
State intangible tax	1,010			961			5.1	%	3,028			2,957			2.4	%
FDIC assessments	1,107			1,164			(4.9	)%	3,380			3,597			(6.0	)%
Loss (gain) - other real estate owned	184			1,372			(86.6	)%	902			2,681			(66.4	)%
Loss (gain) - covered other real estate owned	204			(25		)	(916.0	)%	(2,165		)	2,500			(186.6	)%
Loss sharing expense	1,724			3,584			(51.9	)%	5,588			8,420			(33.6	)%
Other	5,859			7,515			(22.0	)%	19,425			22,296			(12.9	)%
Total noninterest expenses	48,801			55,286			(11.7	)%	155,190			168,523			(7.9	)%
Income before income taxes	22,556			25,155			(10.3	)%	65,015			78,287			(17.0	)%
Income tax expense	7,645			8,913			(14.2	)%	20,451			27,249			(24.9	)%
Net income	$	14,911		$	16,242		(8.2	)%	$	44,564		$	51,038		(12.7	)%
ADDITIONAL DATA
Net earnings per share - basic	$	0.26		$	0.28				$	0.78		$	0.88
Net earnings per share - diluted	$	0.26		$	0.28				$	0.77		$	0.87
Dividends declared per share	$	0.27		$	0.30				$	0.79		$	0.90
Return on average assets	0.96		%	1.05		%			0.95		%	1.08		%
Return on average shareholders' equity	8.53		%	9.01		%			8.49		%	9.56		%
Interest income	$	59,531		$	66,305		(10.2	)%	$	185,361		$	213,325		(13.1	)%
Tax equivalent adjustment	516			255			102.4	%	1,507			689			118.7	%
Interest income - tax equivalent	60,047			66,560			(9.8	)%	186,868			214,014			(12.7	)%
Interest expense	3,759			6,459			(41.8	)%	12,845			21,960			(41.5	)%
Net interest income - tax equivalent	$	56,288		$	60,101		(6.3	)%	$	174,023		$	192,054		(9.4	)%
Net interest margin	3.91		%	4.21		%			3.99		%	4.40		%
Net interest margin (fully tax equivalent) (1)	3.95		%	4.23		%			4.03		%	4.42		%
Full-time equivalent employees	1,292			1,475
(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% tax rate. Management believes that it is a standard practice in the banking industry to present net interest income on a fully tax equivalent basis. Therefore, management believes, these measures provided useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons.
N/M = Not meaningful.

3

FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
	2013
	Third			Second			First						% Change
	Quarter			Quarter			Quarter			YTD			Linked Qtr.
Interest income
Loans, including fees	$	52,908		$	55,022		$	56,025		$	163,955		(3.8	)%
Investment securities
Taxable	8,267			8,295			8,376			24,938			(0.3	)%
Tax-exempt	541			560			580			1,681			(3.4	)%
Total investment securities interest	8,808			8,855			8,956			26,619			(0.5	)%
Other earning assets	(2,185		)	(1,556		)	(1,472		)	(5,213		)	40.4	%
Total interest income	59,531			62,321			63,509			185,361			(4.5	)%
Interest expense
Deposits	2,856			3,284			3,860			10,000			(13.0	)%
Short-term borrowings	286			305			329			920			(6.2	)%
Long-term borrowings	617			654			654			1,925			(5.7	)%
Total interest expense	3,759			4,243			4,843			12,845			(11.4	)%
Net interest income	55,772			58,078			58,666			172,516			(4.0	)%
Provision for loan and lease losses - uncovered	1,413			2,409			3,041			6,863			(41.3	)%
Provision for loan and lease losses - covered	5,293			(8,283		)	9,042			6,052			(163.9	)%
Net interest income after provision for loan and lease losses	49,066			63,952			46,583			159,601			(23.3	)%
Noninterest income
Service charges on deposit accounts	5,447			5,205			4,717			15,369			4.6	%
Trust and wealth management fees	3,366			3,497			3,950			10,813			(3.7	)%
Bankcard income	2,637			3,145			2,433			8,215			(16.2	)%
Net gains from sales of loans	751			1,089			706			2,546			(31.0	)%
FDIC loss sharing income	5,555			(7,384		)	8,934			7,105			(175.2	)%
Accelerated discount on covered loans	1,711			1,935			1,935			5,581			(11.6	)%
Gain on sale of investment securities	0			188			1,536			1,724			(100.0	)%
Other	2,824			3,940			2,487			9,251			(28.3	)%
Total noninterest income	22,291			11,615			26,698			60,604			91.9	%
Noninterest expenses
Salaries and employee benefits	23,834			26,216			27,329			77,379			(9.1	)%
Pension settlement charges	1,396			4,316			0			5,712			(67.7	)%
Net occupancy	5,101			5,384			6,165			16,650			(5.3	)%
Furniture and equipment	2,213			2,250			2,371			6,834			(1.6	)%
Data processing	2,584			2,559			2,469			7,612			1.0	%
Marketing	1,192			1,182			897			3,271			0.8	%
Communication	865			781			833			2,479			10.8	%
Professional services	1,528			1,764			1,803			5,095			(13.4	)%
State intangible tax	1,010			1,004			1,014			3,028			0.6	%
FDIC assessments	1,107			1,148			1,125			3,380			(3.6	)%
Loss (gain) - other real estate owned	184			216			502			902			(14.8	)%
Loss (gain) - covered other real estate owned	204			(2,212		)	(157		)	(2,165		)	(109.2	)%
Loss sharing expense	1,724			1,578			2,286			5,588			9.3	%
Other	5,859			7,097			6,469			19,425			(17.4	)%
Total noninterest expenses	48,801			53,283			53,106			155,190			(8.4	)%
Income before income taxes	22,556			22,284			20,175			65,015			1.2	%
Income tax expense	7,645			6,455			6,351			20,451			18.4	%
Net income	$	14,911		$	15,829		$	13,824		$	44,564		(5.8	)%
ADDITIONAL DATA
Net earnings per share - basic	$	0.26		$	0.28		$	0.24		$	0.78
Net earnings per share - diluted	$	0.26		$	0.27		$	0.24		$	0.77
Dividends declared per share	$	0.27		$	0.24		$	0.28		$	0.79
Return on average assets	0.96		%	1.01		%	0.88		%	0.95		%
Return on average shareholders' equity	8.53		%	9.02		%	7.91		%	8.49		%
Interest income	$	59,531		$	62,321		$	63,509		$	185,361		(4.5	)%
Tax equivalent adjustment	516			514			477			1,507			0.4	%
Interest income - tax equivalent	60,047			62,835			63,986			186,868			(4.4	)%
Interest expense	3,759			4,243			4,843			12,845			(11.4	)%
Net interest income - tax equivalent	$	56,288		$	58,592		$	59,143		$	174,023		(3.9	)%
Net interest margin	3.91		%	4.02		%	4.04		%	3.99		%
Net interest margin (fully tax equivalent) (1)	3.95		%	4.06		%	4.07		%	4.03		%
Full-time equivalent employees	1,292			1,338			1,385
(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% tax rate. Management believes that it is a standard practice in the banking industry to present net interest income on a fully tax equivalent basis. Therefore, management believes, these measures provided useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons.

4

FIRST FINANCIAL BANCORP.
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
	2012
	Fourth			Third			Second			First			Full
	Quarter			Quarter			Quarter			Quarter			Year
Interest income
Loans, including fees	$	60,389		$	59,536		$	63,390		$	66,436		$	249,751
Investment securities
Taxable	8,410			8,358			10,379			10,517			37,664
Tax-exempt	370			111			121			134			736
Total investment securities interest	8,780			8,469			10,500			10,651			38,400
Other earning assets	(1,564		)	(1,700		)	(1,967		)	(1,990		)	(7,221		)
Total interest income	67,605			66,305			71,923			75,097			280,930
Interest expense
Deposits	4,798			5,730			6,381			7,716			24,625
Short-term borrowings	159			54			37			12			262
Long-term borrowings	672			675			675			680			2,702
Total interest expense	5,629			6,459			7,093			8,408			27,589
Net interest income	61,976			59,846			64,830			66,689			253,341
Provision for loan and lease losses - uncovered	3,882			3,613			8,364			3,258			19,117
Provision for loan and lease losses - covered	5,283			6,622			6,047			12,951			30,903
Net interest income after provision for loan and lease losses	52,811			49,611			50,419			50,480			203,321
Noninterest income
Service charges on deposit accounts	5,431			5,499			5,376			4,909			21,215
Trust and wealth management fees	3,409			3,374			3,377			3,791			13,951
Bankcard income	2,526			2,387			2,579			2,536			10,028
Net gains from sales of loans	1,179			1,319			1,132			940			4,570
FDIC loss sharing income	5,754			8,496			8,280			12,816			35,346
Accelerated discount on covered loans	2,455			3,798			3,764			3,645			13,662
Gain on sale of investment securities	1,011			2,617			0			0			3,628
Other	4,356			3,340			9,037			3,288			20,021
Total noninterest income	26,121			30,830			33,545			31,925			122,421
Noninterest expenses
Salaries and employee benefits	28,033			27,212			29,048			28,861			113,154
Net occupancy	5,122			5,153			5,025			5,382			20,682
Furniture and equipment	2,291			2,332			2,323			2,244			9,190
Data processing	2,526			2,334			2,076			1,901			8,837
Marketing	1,566			1,592			1,238			1,154			5,550
Communication	814			788			913			894			3,409
Professional services	1,667			1,304			2,151			2,147			7,269
State intangible tax	942			961			970			1,026			3,899
FDIC assessments	1,085			1,164			1,270			1,163			4,682
Loss (gain) - other real estate owned	569			1,372			313			996			3,250
Loss (gain) - covered other real estate owned	(54		)	(25		)	1,233			1,292			2,446
Loss sharing expense	2,305			3,584			3,085			1,751			10,725
Other	6,608			7,515			7,814			6,967			28,904
Total noninterest expenses	53,474			55,286			57,459			55,778			221,997
Income before income taxes	25,458			25,155			26,505			26,627			103,745
Income tax expense	9,193			8,913			8,703			9,633			36,442
Net income	$	16,265		$	16,242		$	17,802		$	16,994		$	67,303
ADDITIONAL DATA
Net earnings per share - basic	$	0.28		$	0.28		$	0.31		$	0.29		$	1.16
Net earnings per share - diluted	$	0.28		$	0.28		$	0.30		$	0.29		$	1.14
Dividends declared per share	$	0.28		$	0.30		$	0.29		$	0.31		$	1.18
Return on average assets	1.03		%	1.05		%	1.13		%	1.05		%	1.07		%
Return on average shareholders' equity	9.06		%	9.01		%	9.98		%	9.67		%	9.43		%
Interest income	$	67,605		$	66,305		$	71,923		$	75,097		$	280,930
Tax equivalent adjustment	366			255			216			218			1,055
Interest income - tax equivalent	67,971			66,560			72,139			75,315			281,985
Interest expense	5,629			6,459			7,093			8,408			27,589
Net interest income - tax equivalent	$	62,342		$	60,101		$	65,046		$	66,907		$	254,396
Net interest margin	4.27		%	4.21		%	4.49		%	4.51		%	4.37		%
Net interest margin (fully tax equivalent) (1)	4.29		%	4.23		%	4.50		%	4.52		%	4.39		%
Full-time equivalent employees	1,439			1,475			1,525			1,513
(1) The tax equivalent adjustment to net interest income recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% tax rate. Management believes that it is a standard practice in the banking industry to present net interest income on a fully tax equivalent basis. Therefore, management believes, these measures provided useful information to investors by allowing them to make peer comparisons. Management also uses these measures to make peer comparisons.

5

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
	Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			% Change		% Change
	2013			2013			2013			2012			2012			Linked Qtr.		Comparable Qtr.
ASSETS
Cash and due from banks	$	177,698		$	114,745		$	106,249		$	134,502		$	154,181		54.9	%	15.3	%
Interest-bearing deposits with other banks	10,414			2,671			1,170			24,341			21,495			289.9	%	(51.6	)%
Investment securities available-for-sale	854,747			884,694			952,039			1,032,096			689,680			(3.4	)%	23.9	%
Investment securities held-to-maturity	669,093			670,246			716,214			770,755			822,319			(0.2	)%	(18.6	)%
Other investments	75,945			75,645			75,375			71,492			71,492			0.4	%	6.2	%
Loans held for sale	10,704			18,650			28,126			16,256			23,530			(42.6	)%	(54.5	)%
Loans
Commercial	960,016			940,420			892,381			861,033			834,858			2.1	%	15.0	%
Real estate - construction	90,089			97,246			87,542			73,517			91,897			(7.4	)%	(2.0	)%
Real estate - commercial	1,493,969			1,477,226			1,433,182			1,417,008			1,338,636			1.1	%	11.6	%
Real estate - residential	352,830			343,016			330,260			318,210			299,654			2.9	%	17.7	%
Installment	49,273			50,781			53,509			56,810			59,191			(3.0	)%	(16.8	)%
Home equity	373,839			370,206			365,943			367,500			368,876			1.0	%	1.3	%
Credit card	34,285			33,222			32,465			34,198			31,604			3.2	%	8.5	%
Lease financing	76,615			70,011			53,556			50,788			41,343			9.4	%	85.3	%
Total loans, excluding covered loans	3,430,916			3,382,128			3,248,838			3,179,064			3,066,059			1.4	%	11.9	%
Less
Allowance for loan and lease losses	45,514			47,047			48,306			47,777			49,192			(3.3	)%	(7.5	)%
Net loans - uncovered	3,385,402			3,335,081			3,200,532			3,131,287			3,016,867			1.5	%	12.2	%
Covered loans	518,524			622,265			687,798			748,116			825,515			(16.7	)%	(37.2	)%
Less
Allowance for loan and lease losses	23,259			32,961			45,496			45,190			48,895			(29.4	)%	(52.4	)%
Net loans - covered	495,265			589,304			642,302			702,926			776,620			(16.0	)%	(36.2	)%
Net loans	3,880,667			3,924,385			3,842,834			3,834,213			3,793,487			(1.1	)%	2.3	%
Premises and equipment	139,125			142,675			146,889			146,716			146,603			(2.5	)%	(5.1	)%
Goodwill	95,050			95,050			95,050			95,050			95,050			0.0	%	0.0	%
Other intangibles	6,249			6,620			7,078			7,648			8,327			(5.6	)%	(25.0	)%
FDIC indemnification asset	78,132			88,966			112,428			119,607			130,476			(12.2	)%	(40.1	)%
Accrued interest and other assets	255,617			250,228			265,565			244,372			278,447			2.2	%	(8.2	)%
Total Assets	$	6,253,441		$	6,274,575		$	6,349,017		$	6,497,048		$	6,235,087		(0.3	)%	0.3	%
LIABILITIES
Deposits
Interest-bearing demand	$	1,068,067		$	1,131,466		$	1,113,940		$	1,160,815		$	1,112,843		(5.6	)%	(4.0	)%
Savings	1,593,895			1,601,122			1,620,874			1,623,614			1,568,818			(0.5	)%	1.6	%
Time	926,029			978,680			1,030,124			1,068,637			1,199,296			(5.4	)%	(22.8	)%
Total interest-bearing deposits	3,587,991			3,711,268			3,764,938			3,853,066			3,880,957			(3.3	)%	(7.5	)%
Noninterest-bearing	1,141,016			1,059,368			1,056,409			1,102,774			1,063,654			7.7	%	7.3	%
Total deposits	4,729,007			4,770,636			4,821,347			4,955,840			4,944,611			(0.9	)%	(4.4	)%
Federal funds purchased and securities sold
under agreements to repurchase	105,472			114,030			130,863			122,570			88,190			(7.5	)%	19.6	%
FHLB short-term borrowings	518,200			505,900			502,200			502,000			283,000			2.4	%	83.1	%
Total short-term borrowings	623,672			619,930			633,063			624,570			371,190			0.6	%	68.0	%
Long-term debt	61,088			73,957			74,498			75,202			75,521			(17.4	)%	(19.1	)%
Total borrowed funds	684,760			693,887			707,561			699,772			446,711			(1.3	)%	53.3	%
Accrued interest and other liabilities	147,635			114,600			118,495			131,011			127,799			28.8	%	15.5	%
Total Liabilities	5,561,402			5,579,123			5,647,403			5,786,623			5,519,121			(0.3	)%	0.8	%
SHAREHOLDERS' EQUITY
Common stock	577,429			576,641			575,514			579,293			578,129			0.1	%	(0.1	)%
Retained earnings	328,993			329,633			327,635			330,004			330,014			(0.2	)%	(0.3	)%
Accumulated other comprehensive loss	(29,294		)	(25,645		)	(21,475		)	(18,677		)	(18,855		)	14.2	%	55.4	%
Treasury stock, at cost	(185,089		)	(185,177		)	(180,060		)	(180,195		)	(173,322		)	0.0	%	6.8	%
Total Shareholders' Equity	692,039			695,452			701,614			710,425			715,966			(0.5	)%	(3.3	)%
Total Liabilities and Shareholders' Equity	$	6,253,441		$	6,274,575		$	6,349,017		$	6,497,048		$	6,235,087		(0.3	)%	0.3	%

6

FIRST FINANCIAL BANCORP.
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
	Quarterly Averages															Year-to-Date Averages
	Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Sep. 30,
	2013			2013			2013			2012			2012			2013			2012
ASSETS
Cash and due from banks	$	120,154		$	119,909		$	111,599		$	118,619		$	118,642		$	117,252		$	121,121
Interest-bearing deposits with other banks	4,010			13,890			3,056			5,146			11,390			6,989			47,260
Investment securities	1,589,666			1,705,219			1,838,783			1,746,961			1,606,313			1,710,310			1,661,285
Loans held for sale	13,349			19,722			21,096			18,054			26,035			18,027			21,786
Loans
Commercial	937,939			904,029			863,427			819,262			811,998			902,071			829,872
Real estate - construction	93,103			93,813			81,171			85,219			92,051			89,406			101,327
Real estate - commercial	1,488,047			1,445,626			1,411,769			1,373,781			1,322,369			1,448,760			1,279,441
Real estate - residential	347,110			334,652			323,768			307,580			293,423			335,262			290,513
Installment	50,130			52,313			54,684			58,283			60,691			52,359			62,938
Home equity	371,072			367,408			365,568			368,605			365,669			368,036			361,746
Credit card	34,176			33,785			33,300			32,954			31,977			33,757			31,522
Lease financing	75,176			62,383			50,998			44,022			33,521			62,941			25,157
Total loans, excluding covered loans	3,396,753			3,294,009			3,184,685			3,089,706			3,011,699			3,292,592			2,982,516
Less
Allowance for loan and lease losses	49,451			50,172			49,408			50,172			51,486			49,677			51,783
Net loans - uncovered	3,347,302			3,243,837			3,135,277			3,039,534			2,960,213			3,242,915			2,930,733
Covered loans	573,243			653,892			724,846			794,838			866,486			650,105			945,355
Less
Allowance for loan and lease losses	31,208			41,861			46,104			48,553			51,150			39,670			48,764
Net loans - covered	542,035			612,031			678,742			746,285			815,336			610,435			896,591
Net loans	3,889,337			3,855,868			3,814,019			3,785,819			3,775,549			3,853,350			3,827,324
Premises and equipment	141,498			144,759			147,355			148,047			145,214			144,516			142,959
Goodwill	95,050			95,050			95,050			95,050			95,050			95,050			95,050
Other intangibles	6,428			6,831			7,346			8,001			8,702			6,865			9,656
FDIC indemnification asset	82,411			104,983			115,344			125,264			136,136			100,792			148,413
Accrued interest and other assets	251,819			244,371			237,401			243,123			243,636			244,584			251,418
Total Assets	$	6,193,722		$	6,310,602		$	6,391,049		$	6,294,084		$	6,166,667		$	6,297,735		$	6,326,272
LIABILITIES
Deposits
Interest-bearing demand	$	1,098,524		$	1,141,767		$	1,112,664		$	1,145,800		$	1,164,111		$	1,117,600		$	1,213,876
Savings	1,608,351			1,639,834			1,618,239			1,640,427			1,588,708			1,622,105			1,627,068
Time	947,436			1,011,290			1,054,499			1,126,627			1,260,329			1,004,016			1,414,295
Total interest-bearing deposits	3,654,311			3,792,891			3,785,402			3,912,854			4,013,148			3,743,721			4,255,239
Noninterest-bearing	1,072,259			1,063,102			1,049,943			1,112,072			1,052,421			1,061,850			1,009,548
Total deposits	4,726,570			4,855,993			4,835,345			5,024,926			5,065,569			4,805,571			5,264,787
Federal funds purchased and securities sold
under agreements to repurchase	114,505			105,299			134,709			100,087			81,147			118,097			82,579
FHLB short-term borrowings	483,937			464,630			525,878			263,895			100,758			491,328			60,057
Total short-term borrowings	598,442			569,929			660,587			363,982			181,905			609,425			142,636
Long-term debt	69,264			74,129			74,740			75,326			75,435			72,691			75,589
Total borrowed funds	667,706			644,058			735,327			439,308			257,340			682,116			218,225
Accrued interest and other liabilities	106,288			106,747			111,515			115,477			126,961			108,164			129,763
Total Liabilities	5,500,564			5,606,798			5,682,187			5,579,711			5,449,870			5,595,851			5,612,775
SHAREHOLDERS' EQUITY
Common stock	576,953			576,391			578,452			578,691			577,547			577,260			577,446
Retained earnings	329,518			329,795			330,879			331,414			330,368			330,059			329,011
Accumulated other comprehensive loss	(28,232		)	(19,204		)	(19,576		)	(19,612		)	(17,756		)	(22,369		)	(18,777		)
Treasury stock, at cost	(185,081		)	(183,178		)	(180,893		)	(176,120		)	(173,362		)	(183,066		)	(174,183		)
Total Shareholders' Equity	693,158			703,804			708,862			714,373			716,797			701,884			713,497
Total Liabilities and Shareholders' Equity	$	6,193,722		$	6,310,602		$	6,391,049		$	6,294,084		$	6,166,667		$	6,297,735		$	6,326,272

7

FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE/VOLUME ANALYSIS (1)
(Dollars in thousands)
(Unaudited)
	Quarterly Averages															Year-to-Date Averages
	Sep. 30, 2013					Jun. 30, 2013					Sep. 30, 2012					Sep. 30, 2013					Sep. 30, 2012
	Balance			Yield		Balance			Yield		Balance			Yield		Balance			Yield		Balance			Yield
Earning assets
Investments:
Investment securities	$	1,589,666		2.20	%	$	1,705,219		2.08	%	$	1,606,313		2.09	%	$	1,710,310		2.08	%	$	1,661,285		2.38	%
Interest-bearing deposits with other banks	4,010			0.49	%	13,890			0.32	%	11,390			0.45	%	6,989			0.38	%	47,260			0.29	%
Gross loans (2)	4,065,756			4.95	%	4,072,606			5.26	%	4,040,356			5.68	%	4,061,516			5.22	%	4,098,070			5.99	%
Total earning assets	5,659,432			4.17	%	5,791,715			4.32	%	5,658,059			4.65	%	5,778,815			4.29	%	5,806,615			4.91	%
Nonearning assets
Allowance for loan and lease losses	(80,659		)			(92,033		)			(102,636		)			(89,347		)			(100,547		)
Cash and due from banks	120,154					119,909					118,642					117,252					121,121
Accrued interest and other assets	494,795					491,011					492,602					491,015					499,083
Total assets	$	6,193,722				$	6,310,602				$	6,166,667				$	6,297,735				$	6,326,272
Interest-bearing liabilities
Deposits:
Interest-bearing demand	$	1,098,524		0.12	%	$	1,141,767		0.09	%	$	1,164,111		0.13	%	$	1,117,600		0.11	%	$	1,213,876		0.13	%
Savings	1,608,351			0.09	%	1,639,834			0.10	%	1,588,708			0.12	%	1,622,105			0.10	%	1,627,068			0.13	%
Time	947,436			0.90	%	1,011,290			1.04	%	1,260,329			1.53	%	1,004,016			1.05	%	1,414,295			1.62	%
Total interest-bearing deposits	3,654,311			0.31	%	3,792,891			0.35	%	4,013,148			0.57	%	3,743,721			0.36	%	4,255,239			0.62	%
Borrowed funds
Short-term borrowings	598,442			0.19	%	569,929			0.21	%	181,905			0.12	%	609,425			0.20	%	142,636			0.10	%
Long-term debt	69,264			3.53	%	74,129			3.54	%	75,435			3.55	%	72,691			3.54	%	75,589			3.59	%
Total borrowed funds	667,706			0.54	%	644,058			0.60	%	257,340			1.12	%	682,116			0.56	%	218,225			1.31	%
Total interest-bearing liabilities	4,322,017			0.35	%	4,436,949			0.38	%	4,270,488			0.60	%	4,425,837			0.39	%	4,473,464			0.66	%
Noninterest-bearing liabilities
Noninterest-bearing demand deposits	1,072,259					1,063,102					1,052,421					1,061,850					1,009,548
Other liabilities	106,288					106,747					126,961					108,164					129,763
Shareholders' equity	693,158					703,804					716,797					701,884					713,497
Total liabilities & shareholders' equity	$	6,193,722				$	6,310,602				$	6,166,667				$	6,297,735				$	6,326,272
Net interest income (1)	$	55,772				$	58,078				$	59,846				$	172,516				$	191,365
Net interest spread (1)				3.82	%				3.94	%				4.05	%				3.90	%				4.25	%
Net interest margin (1)				3.91	%				4.02	%				4.21	%				3.99	%				4.40	%
(1) Not tax equivalent.
(2) Loans held for sale, nonaccrual loans, covered loans, and indemnification asset are included in gross loans.

8

FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE/VOLUME ANALYSIS (1)
(Dollars in thousands)
(Unaudited)
	Linked Qtr. Income Variance									Comparable Qtr. Income Variance									Year-to-Date Income Variance
	Rate			Volume			Total			Rate			Volume			Total			Rate			Volume			Total
Earning assets
Investment securities	$	491		$	(538	)	$	(47	)	$	431		$	(92	)	$	339		$	(3,764	)	$	763		$	(3,001	)
Interest-bearing deposits with other banks	6			(12		)	(6		)	1			(9		)	(8		)	31			(115		)	(84		)
Gross loans (2)	(3,204		)	467			(2,737		)	(7,422		)	317			(7,105		)	(23,450		)	(1,429		)	(24,879		)
Total earning assets	(2,707		)	(83		)	(2,790		)	(6,990		)	216			(6,774		)	(27,183		)	(781		)	(27,964		)
Interest-bearing liabilities
Total interest-bearing deposits	$	(352	)	$	(76	)	$	(428	)	$	(2,594	)	(280		)	$	(2,874	)	$	(8,461	)	$	(1,366	)	$	(9,827	)
Borrowed funds
Short-term borrowings	(36		)	17			(19		)	33			199			232			112			705			817
Long-term debt	(1		)	(36		)	(37		)	(3		)	(55		)	(58		)	(28		)	(77		)	(105		)
Total borrowed funds	(37		)	(19		)	(56		)	30			144			174			84			628			712
Total interest-bearing liabilities	(389		)	(95		)	(484		)	(2,564		)	(136		)	(2,700		)	(8,377		)	(738		)	(9,115		)
Net interest income (1)	$	(2,318	)	$	12		$	(2,306	)	$	(4,426	)	$	352		$	(4,074	)	$	(18,806	)	$	(43	)	$	(18,849	)
(1) Not tax equivalent.
(2) Loans held for sale, nonaccrual loans, covered loans, and indemnification asset are included in gross loans.

9

FIRST FINANCIAL BANCORP.
CREDIT QUALITY
(excluding covered assets)
(Dollars in thousands)
(Unaudited)
																Nine months ended,
	Sep. 30,			Jun. 30,			Mar 31,			Dec. 31,			Sep. 30,			Sep. 30,			Sep. 30,
	2013			2013			2013			2012			2012			2013			2012
ALLOWANCE FOR LOAN AND LEASE LOSS ACTIVITY
Balance at beginning of period	$	47,047		$	48,306		$	47,777		$	49,192		$	50,952		$	47,777		$	52,576
Provision for uncovered loan and lease losses	1,413			2,409			3,041			3,882			3,613			6,863			15,235
Gross charge-offs
Commercial	1,482			859			781			657			1,340			3,122			3,655
Real estate - construction	0			0			0			0			180			0			2,684
Real estate - commercial	2,174			2,044			995			2,221			2,736			5,213			8,791
Real estate - residential	249			326			223			454			565			798			1,360
Installment	99			97			100			267			134			296			310
Home equity	411			591			701			1,722			380			1,703			1,939
Other	696			277			410			227			469			1,383			1,025
Total gross charge-offs	5,111			4,194			3,210			5,548			5,804			12,515			19,764
Recoveries
Commercial	92			67			319			71			202			478			322
Real estate - construction	490			0			136			0			0			626			0
Real estate - commercial	1,264			57			39			46			38			1,360			219
Real estate - residential	98			5			4			3			33			107			70
Installment	57			110			77			53			72			244			270
Home equity	95			225			52			32			31			372			83
Other	69			62			71			46			55			202			181
Total recoveries	2,165			526			698			251			431			3,389			1,145
Total net charge-offs	2,946			3,668			2,512			5,297			5,373			9,126			18,619
Ending allowance for uncovered loan and lease losses	$	45,514		$	47,047		$	48,306		$	47,777		$	49,192		$	45,514		$	49,192
NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)
Commercial	0.59		%	0.35		%	0.22		%	0.28		%	0.56		%	0.39		%	0.54		%
Real estate - construction	(2.09		)%	0.00		%	(0.68		)%	0.00		%	0.78		%	(0.94		)%	3.54		%
Real estate - commercial	0.24		%	0.55		%	0.27		%	0.63		%	0.81		%	0.36		%	0.89		%
Real estate - residential	0.17		%	0.38		%	0.27		%	0.58		%	0.72		%	0.28		%	0.59		%
Installment	0.33		%	(0.10		)%	0.17		%	1.46		%	0.41		%	0.13		%	0.08		%
Home equity	0.34		%	0.40		%	0.72		%	1.82		%	0.38		%	0.48		%	0.69		%
Other	2.27		%	0.90		%	1.63		%	0.94		%	2.51		%	1.63		%	1.99		%
Total net charge-offs	0.34		%	0.45		%	0.32		%	0.68		%	0.71		%	0.37		%	0.83		%
COMPONENTS OF NONPERFORMING LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans 1
Commercial	$	8,554		$	12,925		$	16,296		$	15,893		$	10,105		$	8,554		$	10,105
Real estate - construction	1,099			1,104			2,094			2,102			3,702			1,099			3,702
Real estate - commercial	35,549			35,055			33,871			34,977			38,763			35,549			38,763
Real estate - residential	9,346			9,369			8,295			7,869			7,070			9,346			7,070
Installment	421			249			341			452			284			421			284
Home equity	2,871			2,813			3,059			3,252			2,497			2,871			2,497
Lease financing	86			496			496			496			0			86			0
Nonaccrual loans	57,926			62,011			64,452			65,041			62,421			57,926			62,421
Accruing troubled debt restructurings (TDRs)	16,278			12,924			12,757			10,856			11,604			16,278			11,604
Total nonperforming loans	74,204			74,935			77,209			75,897			74,025			74,204			74,025
Other real estate owned (OREO)	11,804			11,798			11,993			12,526			13,912			11,804			13,912
Total nonperforming assets	86,008			86,733			89,202			88,423			87,937			86,008			87,937
Accruing loans past due 90 days or more	265			158			157			212			108			265			108
Total underperforming assets	$	86,273		$	86,891		$	89,359		$	88,635		$	88,045		$	86,273		$	88,045
Total classified assets	$	120,423		$	129,832		$	130,436		$	129,040		$	133,382		$	120,423		$	133,382
CREDIT QUALITY RATIOS (excluding covered assets)
Allowance for loan and lease losses to
Nonaccrual loans	78.57		%	75.87		%	74.95		%	73.46		%	78.81		%	78.57		%	78.81		%
Nonperforming loans	61.34		%	62.78		%	62.57		%	62.95		%	66.45		%	61.34		%	66.45		%
Total ending loans	1.33		%	1.39		%	1.49		%	1.50		%	1.60		%	1.33		%	1.60		%
Nonperforming loans to total loans	2.16		%	2.22		%	2.38		%	2.39		%	2.41		%	2.16		%	2.41		%
Nonperforming assets to
Ending loans, plus OREO	2.50		%	2.56		%	2.74		%	2.77		%	2.86		%	2.50		%	2.86		%
Total assets	1.38		%	1.38		%	1.40		%	1.36		%	1.41		%	1.38		%	1.41		%
Nonperforming assets, excluding accruing TDRs to
Ending loans, plus OREO	2.03		%	2.17		%	2.34		%	2.43		%	2.48		%	2.03		%	2.48		%
Total assets	1.12		%	1.18		%	1.20		%	1.19		%	1.22		%	1.12		%	1.22		%
1  Nonaccrual loans include nonaccrual TDRs of $13.0 million, $19.9 million, $22.3 million, $14.1 million, and $13.0 million as of September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, and September 30, 2012, respectively.

10

FIRST FINANCIAL BANCORP.
CAPITAL ADEQUACY
(Dollars in thousands, except per share data)
(Unaudited)
																Nine months ended,
	Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Sep. 30,			Sep. 30,
	2013			2013			2013			2012			2012			2013			2012
PER COMMON SHARE
Market Price
High	$	16.47		$	16.05		$	16.07		$	16.95		$	17.86		$	16.47		$	18.28
Low	$	14.89		$	14.52		$	14.46		$	13.90		$	15.58		$	14.46		$	14.88
Close	$	15.17		$	14.90		$	16.05		$	14.62		$	16.91		$	15.17		$	16.91
Average shares outstanding - basic	57,201,390			57,291,994			57,439,029			57,800,988			57,976,943			57,309,934			57,902,102
Average shares outstanding - diluted	58,012,588			58,128,349			58,283,467			58,670,666			58,940,179			58,143,372			58,930,570
Ending shares outstanding	57,702,444			57,698,344			58,028,923			58,046,235			58,510,916			57,702,444			58,510,916
REGULATORY CAPITAL	Preliminary															Preliminary
Tier 1 Capital	$	631,846		$	630,819		$	632,020		$	637,176		$	641,828		$	631,846		$	641,828
Tier 1 Ratio	15.26		%	15.41		%	15.87		%	16.32		%	16.93		%	15.26		%	16.93		%
Total Capital	$	684,363		$	682,927		$	682,974		$	686,961		$	690,312		$	684,363		$	690,312
Total Capital Ratio	16.53		%	16.68		%	17.15		%	17.60		%	18.21		%	16.53		%	18.21		%
Total Capital in excess of minimum
requirement	$	353,118		$	355,435		$	364,376		$	374,633		$	387,115		$	353,118		$	387,115
Total Risk-Weighted Assets	$	4,140,561		$	4,093,644		$	3,982,479		$	3,904,096		$	3,789,957		$	4,140,561		$	3,789,957
Leverage Ratio	10.29		%	10.12		%	10.00		%	10.25		%	10.54		%	10.29		%	10.54		%
OTHER CAPITAL RATIOS
Ending shareholders' equity to ending assets	11.07		%	11.08		%	11.05		%	10.93		%	11.48		%	11.07		%	11.48		%
Ending tangible shareholders' equity to ending tangible assets	9.60		%	9.62		%	9.60		%	9.50		%	9.99		%	9.60		%	9.99		%
Average shareholders' equity to average assets	11.19		%	11.15		%	11.09		%	11.35		%	11.62		%	11.15		%	11.28		%
Average tangible shareholders' equity to average tangible assets	9.71		%	9.70		%	9.65		%	9.88		%	10.12		%	9.69		%	9.80		%
REPURCHASE PROGRAM (1)
Shares repurchased	0			291,400			249,000			460,500			0			540,400			0
Average share repurchase price	N/A			$	15.47		$	15.39		$	14.78		N/A			$	15.43		N/A
Total cost of shares repurchased	N/A			$	4,508		$	3,831		$	6,806		N/A			$	8,339		N/A
(1) Represents share repurchases as part of publicly announced plans.
N/A=Not applicable

11

SUPPLEMENTAL INFORMATION ON COVERED ASSETS

ACCELERATED DISCOUNT ON LOAN PREPAYMENTS AND DISPOSITIONS

During the third quarter, First Financial recognized approximately $1.7 million in accelerated discount on covered loans, net of the corresponding adjustment on the FDIC indemnification asset. Accelerated discount is recognized when covered loans, which are recorded on the Company’s balance sheet at an amount less than the unpaid principal balance, prepay at an amount greater than their recorded book value. Prepayments can occur through either customer driven payments before the maturity date or loan sales. The amount of discount attributable to the credit loss component of each loan varies and the recognized amount is offset by a related reduction in the FDIC indemnification asset. Accelerated discount recognized during the quarter resulted primarily from loan prepayments.

NET INTEREST MARGIN IMPACT

Net interest margin is affected by certain activity related to the covered loan portfolio. The majority of these loans are accounted for under FASB ASC Topic 310-30 and, as such, the Company is required to periodically update its forecast of expected cash flows from these loans. Impairment, as a result of a decrease in expected cash flows, is recognized as provision expense in the period it is measured and has no impact on net interest margin. Improvements in expected cash flows, in excess of any prior impairment, are recognized on a prospective basis through an upward adjustment to the yield earned on the portfolio. Impairment and improvement are both partially offset by the impact of changes in the value of the FDIC indemnification asset. Impairment is partially offset by an increase to the FDIC indemnification asset as a result of FDIC loss sharing income. Improvement, which is reflected as a higher yield, is partially offset by a lower yield earned on the FDIC indemnification asset until the next periodic valuation of the loans and the indemnification asset. The weighted average yield of the acquired loan portfolio may also be subject to change as loans with higher yields pay down more quickly or slowly than loans with lower yields.

The following table shows the estimated yield earned by the Company on its covered and uncovered loan portfolios and the FDIC indemnification asset for the three months ended September 30, 2013.

Table VII
	For the Three Months Ended September 30, 2013
	Average
(Dollars in thousands)	Balance		Yield
Loans, excluding covered loans 1	$	3,410,102	4.43%
Covered loan portfolio accounted for under ASC Topic 310-30 2	511,356		10.03%
Covered loan portfolio accounted for under ASC Topic 310-20 3	61,887		12.06%
FDIC indemnification asset 2	82,411		(10.54)%
Total	$	4,065,756	4.95%
Yield earned on total covered loans			10.25%
Yield earned on total covered loans and FDIC indemnification asset			7.64%
1 Includes loans with loss share coverage removed
2  Future yield adjustments subject to change based on required, periodic valuation procedures
3  Includes loans with revolving privileges which are scoped out of ASC Topic 310-30 and certain loans which the Company elected to treat under the cost recovery method of accounting

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COVERED ASSETS

The following table presents the covered loan portfolio as of September 30, 2013, June 30, 2013 and September 30, 2012.

Table VIII
	As of
	September 30, 2013				June 30, 2013				September 30, 2012
			Percent				Percent				Percent
(Dollars in thousands)	Balance		of Total		Balance		of Total		Balance		of Total
Commercial	$	52,276	10.1	%	$	69,562	11.2	%	$	121,745	14.7	%
Real estate - construction	8,692		1.7	%	9,647		1.6	%	12,898		1.6	%
Real estate - commercial	312,798		60.3	%	389,282		62.6	%	512,320		62.1	%
Real estate - residential	84,418		16.3	%	90,707		14.6	%	105,113		12.7	%
Installment	6,135		1.2	%	7,057		1.1	%	9,892		1.2	%
Home equity	51,692		10.0	%	53,214		8.6	%	60,502		7.3	%
Other	2,513		0.5	%	2,796		0.4	%	3,045		0.4	%
Total	$	518,524	100.0	%	$	622,265	100.0	%	$	825,515	100.0	%

As of September 30, 2013, 13.1% of the Company’s total loans were covered loans. During the third quarter, the total balance of covered loans decreased $103.7 million, or 16.7%, compared to the prior quarter. Of this decline, $58.2 million consisted of covered loans classified as likely to exit and resulted from the successful execution of resolution strategies. As required under the loss sharing agreements, First Financial must file monthly certifications with the FDIC on single-family residential loans and quarterly certifications on all other loans. The payment of claims is subject to the FDIC’s review for compliance with the loss sharing agreements and to date, all certifications have been filed in a timely manner and without significant issues.

Covered OREO increased $5.3 million, or 23.5%, during the third quarter to $27.7 million as of September 30, 2013 as additions of $8.7 million exceeded resolutions and valuation adjustments of $3.4 million. Additionally, the Company recognized a net loss on sales of covered OREO of $0.2 million during the quarter. The net loss was offset by a corresponding increase in FDIC loss sharing income of approximately 80% of the net loss recognized.

ALLOWANCE FOR LOAN AND LEASE LOSSES - COVERED

Under the applicable accounting guidance, the allowance for loan losses related to covered loans is a result of impairment identified in ongoing valuation procedures and is generally recognized in the current period as provision expense. However, if improvement is noted in a loan pool that had previously experienced impairment, the amount of improvement is recognized as a reduction to the applicable period’s provision expense. Additional improvement beyond previously recorded impairment is reflected as a yield adjustment on a prospective basis. The timing inherent in this accounting treatment may result in earnings volatility in future periods.

13

The following table presents activity in the allowance for loan losses related to covered loans for the three months ended September 30, 2013 and for the trailing three quarters.

Table IX
	As of or for the Three Months Ended
	September 30,			June 30,			March 31,			December 31,
(Dollars in thousands)	2013			2013			2013			2012
Balance at beginning of period	$	32,961		$	45,496		$	45,190		$	48,895
Provision for loan and lease losses - covered	5,293			(8,283		)	9,042			5,283
Total gross charge-offs	(21,009		)	(4,681		)	(9,684		)	(9,568		)
Total recoveries	6,014			429			948			580
Total net charge-offs	(14,995		)	(4,252		)	(8,736		)	(8,988		)
Ending allowance for loan and lease losses - covered	$	23,259		$	32,961		$	45,496		$	45,190

As a percentage of total covered loans, the allowance for loan losses totaled 4.49% as of September 30, 2013 compared to 5.30% as of June 30, 2013.

Net charge-offs on covered loans during the third quarter were $15.0 million compared to $4.3 million for the second quarter, an increase of $10.7 million, or 252.7%. This increase was driven primarily by the resolution strategies related to covered loans discussed above. During the third quarter, the Company recognized provision expense of $5.3 million compared to a negative provision expense of $8.3 million for the linked quarter. The difference between provision expense and net charge-offs primarily relates to the quarterly re-estimation of cash flow expectations required under FASB ASC Topic 310-30.

In addition to the provision expense, the Company incurred loss sharing and covered asset expenses of $1.7 million, consisting primarily of credit expenses, and net losses related to covered OREO of $0.2 million. FDIC loss sharing income of $5.6 million for the quarter reflects the quarterly re-estimation of expected cash flows as well as the corresponding offset related to the net losses on sales of covered OREO and loss sharing and covered asset expenses.

14