EXHIBIT 99.1

First Financial Bancorp Reports Fourth Quarter and

Full Year 2013 Financial Results

Cincinnati, Ohio - January 30, 2014 - First Financial Bancorp (Nasdaq: FFBC) (“First Financial” or the “Company”) announced today financial and operational results for the fourth quarter 2013 and for the twelve month period ended December 31, 2013.

Fourth quarter net income was $3.8 million and earnings per diluted common share were $0.07. This compares with third quarter net income of $14.9 million and earnings per diluted common share of $0.26 and fourth quarter 2012 net income of $16.3 million and earnings per diluted common share of $0.28.

For the twelve month period ended December 31, 2013, net income was $48.3 million and earnings per diluted common share were $0.83 as compared to net income of $67.3 million and earnings per diluted common share of $1.14 for the twelve month period ended December 31, 2012.

▪ Quarterly adjusted pre-tax, pre-provision income increased 4.0% to $27.4 million, or 1.75% of average assets

▪ Continued solid quarterly performance

• Quarterly results included several items which reduced earnings per diluted share by approximately $0.24 on a net basis

• Return on average assets of 0.24%; 1.14% as adjusted for the items noted below

• Return on average tangible common equity of 2.51%; 11.88% as adjusted for the items noted below

▪ Capital ratios remain strong

• Tangible common equity to tangible assets of 9.20%

• Tier 1 capital ratio of 14.61%

• Total risk-based capital ratio of 15.88%

▪ Total uncovered loan growth for the quarter of 8.6% on an annualized basis

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

•Continued growth in specialty finance balances

▪ Quarterly net interest margin of 3.90%

• Excluding the impact from loans that returned to accrual status, net interest margin was 3.86% for the quarter

• Adjusted yield on the uncovered loan portfolio increased 2 bps during the quarter

• Yield on investment securities increased 18 bps to 2.38%

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▪ Continued improvement in asset quality metrics

• Total nonperforming loans declined $21.5 million, or 29.0%, and represent 1.50% of total loans compared to 2.16% for the linked quarter

• Total nonperforming assets declined $13.5 million, or 15.7%, and represent 1.13% of total assets compared to 1.38% for the linked quarter

During the quarter, the Company incurred certain pre-tax expenses of $1.5 million resulting from its efficiency initiatives. Approximately $1.3 million was related to employee benefit expenses associated with staffing reductions and $0.2 million was related to expenses associated with real estate consolidation and closure plans. Additionally, the Company incurred pre-tax pension settlement charges of $0.5 million resulting from employee-driven activity as well as acquisition-related expenses of $0.3 million. In the aggregate, these items reduced pre-tax earnings by $2.2 million, or approximately $0.02 per diluted share after taxes.

As previously disclosed in the press release dated January 22, 2014, the Company recognized a $22.4 million pre-tax non-cash valuation adjustment on its FDIC indemnification asset during the quarter which reduced the fourth quarter’s diluted earnings per share after taxes by $0.26.

The Company recognized an income tax benefit for the quarter resulting from favorable state tax adjustments as well as lower income for the quarter primarily due to the FDIC indemnification asset valuation adjustment. In the aggregate, these items increased quarterly after-tax net income by $2.1 million, or $0.04 per diluted share.

The board of directors has authorized a dividend of $0.15 per common share for the next regularly scheduled dividend, payable on April 1, 2014 to shareholders of record as of February 28, 2014.

Under the announced share repurchase plan, the Company repurchased 209,745 shares of common stock during the fourth quarter at an average price of $16.39 per share. For the full year 2013, the Company repurchased 750,145 shares at an average price of $15.70 per share. When combined with the regular and variable dividends paid during the year, First Financial returned 151.4% of 2013 full year net income to shareholders during the year. Additionally, the Company has repurchased 40,255 shares during the first quarter 2014 at an average price of $17.32 per share.

The Company continued to execute 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 $1.4 million during the quarter. Based on operating performance during the year, the Company estimates that it surpassed its original goal of 85% realization of announced cost savings and achieved 100% of its annual target of $17.1 million during 2013. All initiatives related to the original plan are fully implemented and annualized run rate savings are expected to exceed the original target. As previously announced, the Company identified additional initiatives that it implemented during the fourth quarter. 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, “We ended 2013 on a positive note as the fourth quarter’s results represent our best operating quarter of the year. Adjusted pre-tax, pre-provision income increased 4% as we were able to maintain a consistent level of operating revenue while operating expenses continued to decline.

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“We were able to execute on strategic initiatives late in the year and early in 2014 with the announced acquisitions of The First Bexley Bank and Insight Bank in Columbus, Ohio, and the hiring of strong commercial and residential mortgage lending teams in Fort Wayne, Indiana - two markets we had previously identified as presenting strong prospects for future growth. In Columbus, we are working hard on the operational and cultural integration of these two outstanding institutions and our new team in Fort Wayne is actively calling on new clients and prospects with the wider product set and resources at their disposal as part of First Financial.

“We were also very pleased with our ability to execute on the efficiency initiative and deliver announced cost savings ahead of schedule. Our associates worked very hard throughout the year to carry out these initiatives and as a result of their efforts we expect to realize savings in 2014 beyond the annual target of $17.1 million related to the original plan. When combined with the additional initiatives we implemented during the fourth quarter, we have made significant progress in right-sizing the expense base and are positioned to deliver positive operating leverage in future periods as organic growth increasingly outweighs the impact of the declining covered loan portfolio and we capitalize on our new market expansion activities.

“The fourth quarter represented our seventh consecutive quarter of growth in the uncovered loan portfolio, increasing $74.7 million, or 8.6% on an annualized basis, compared to the linked quarter and $326.6 million, or 10.3%, compared to the fourth quarter 2012. Additionally, uncovered loan growth exceeded the decline in the covered loan portfolio, making this the fourth out of the last five quarters we achieved this milestone. As loan originations and renewals were particularly strong in December and forecasted production for the first quarter 2014 looks solid, we feel encouraged about our asset generation capabilities and momentum heading into the new year.”

NET INTEREST INCOME AND NET INTEREST MARGIN

Net interest income for the fourth quarter was $55.8 million as compared to $55.8 million for the third quarter and $62.0 million for the fourth quarter 2012. Compared to the linked quarter, total interest income increased $0.3 million, or 0.5%, and total interest expense increased $0.3 million, or 7.6%. Net interest margin was 3.90% for the fourth quarter as compared to 3.91% for the third quarter and 4.27% for the fourth quarter 2012.

Interest income earned on loans decreased $0.6 million, or 1.1%, compared to the prior quarter. Included in the fourth quarter’s interest income on loans was the recognition of $0.6 million of previously reserved interest related to loans that returned to accrual status. Excluding this amount, net interest margin was 3.86%, a decline of 5 bps compared to the linked quarter. Net of the interest income related to loans that returned to accrual status, the lower interest income earned on loans was driven primarily by a decline of $83.2 million, or 14.5%, in average covered loan balances, partially offset by a 37 bp increase in the yield earned on the portfolio. Amortization of the FDIC indemnification asset increased $0.2 million during the quarter despite the average balance declining $4.1 million as the negative yield on the asset increased 182 bps to -12.36%, negatively impacting net interest income and net interest margin.

Growth in average uncovered loan balances of $45.3 million, or 1.3% on a linked quarter basis, helped to partially offset the impact on net interest income and net interest margin from covered loan and FDIC indemnification asset activity during the quarter. Excluding the impact of interest income related to loans that returned to accrual status, the yield earned on the uncovered portfolio during the quarter was approximately 4.45%, a 2 bp increase compared to the linked quarter.

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Interest income earned from investment securities increased $1.1 million, or 12.7%, compared to the prior quarter as average balances increased $64.7 million, or 4.1%, and the yield earned on the portfolio increased 18 bps to 2.38%.

The increase in total interest expense was due to an increase in deposit costs. Average interest-bearing deposit balances increased $66.5 million, or 1.8%, during the quarter driven primarily by growth in interest-bearing checking and money market balances. The cost of funds related to interest-bearing deposits increased 4 bps to 35 bps compared to 31 bps for the linked quarter.

NONINTEREST INCOME

The following table presents noninterest income for the three months ended December 31, 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
	December 31,			September 30,		June 30,			March 31,		December 31,
(Dollars in thousands)	2013			2013		2013			2013		2012
Total noninterest income	$	13,043		$	22,291	$	11,615		$	26,698	$	26,121
Selected components of noninterest income
Accelerated discount on covered loans 1	1,572			1,711		1,935			1,935		2,455
FDIC loss sharing income	(3,385		)	5,555		(7,384		)	8,934		5,754
Gain on sale of investment securities	—			—		188			1,536		1,011
Other items not expected to recur	—			—		442			—		—
Total noninterest income excluding items noted above	$	14,856		$	15,025	$	16,434		$	14,293	$	16,901
1  Net of the corresponding valuation adjustment on the FDIC indemnification asset

Excluding the items highlighted in Table I, noninterest income earned in the fourth quarter was $14.9 million compared to $15.0 million in the third quarter and $16.9 million in the fourth quarter 2012. The decrease of $0.2 million compared to the linked quarter was driven by lower service charges on deposit accounts and net gains on sales of residential mortgages, partially offset by higher trust and wealth management fees.

NONINTEREST EXPENSE

The following table presents noninterest expense for the three months ended December 31, 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.

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Table II
	For the Three Months Ended
	December 31,		September 30,		June 30,			March 31,			December 31,
(Dollars in thousands)	2013		2013		2013			2013			2012
Total noninterest expense	$	70,285	$	48,801	$	53,283		$	53,106		$	53,474
Selected components of noninterest expense
Loss (gain) - covered real estate owned	946		204		(2,212		)	(157		)	(54		)
Loss sharing expense	1,495		1,724		1,578			2,286			2,305
Pension settlement charges	462		1,396		4,316			—			—
Expenses associated with efficiency initiative	1,450		1,051		1,518			2,878			952
FDIC indemnification asset valuation adjustment	22,417		—		—			—			—
Acquisition-related expenses	284		—		—			—			—
Other items not expected to recur	—		—		—			390			—
Total noninterest income excluding items noted above	$	43,231	$	44,426	$	48,083		$	47,709		$	50,271
FDIC loss share support 1	$	844	$	841	$	795		$	776		$	798
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;

Excluding the items highlighted in Table II, noninterest expense in the fourth quarter was $43.2 million as compared to $44.4 million in the third quarter and $50.3 million in the fourth quarter 2012. The decrease of $1.2 million compared to the linked quarter was due primarily to lower salaries and employee benefits expense, occupancy costs and marketing and communications expenses. Expenses associated with the efficiency initiative and other staffing-related changes include $1.3 million of employee benefit expenses related to staffing reductions and $0.2 million of expenses associated with real estate consolidation and closure plans.

During the quarter, the Company recognized $0.5 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.  First Financial exceeded the annual accounting threshold for lump-sum distributions during 2013 and has recognized a proportionate share of lump-sum distributions from its pension plan as pension settlement charges during the year. The annual threshold for recognizing lump-sum distributions as pension settlement charges resets on January 1, 2014.

INCOME TAXES

For the fourth quarter, the Company recognized an income tax benefit of $1.2 million, resulting in an effective tax rate of -47.4%, compared with income tax expense of $7.6 million and an effective tax rate of 33.9% during the third quarter and income tax expense of $9.2 million and an effective tax rate of 36.1% during the fourth quarter 2012. The fourth quarter income tax benefit resulted from favorable state tax adjustments as well as lower net income for the quarter primarily related to the FDIC indemnification asset valuation adjustment. The Company recognized favorable state tax adjustments, net of federal taxes, of approximately $1.0 million during the fourth quarter resulting from the completion of its 2012 state tax returns and other related adjustments. While adjustments related to the completion of federal and state tax returns are typical late in the year, 2013 activity was made more significant by the impact of a favorable state tax rate change on the Company’s deferred taxes. For the full year 2013, the Company’s effective tax rate was 28.5%. A normalized effective tax rate in future periods is estimated to be 34.0%.

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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 December 31, 2013 and the trailing four quarters.

Table III
	As of or for the Three Months Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
(Dollars in thousands)	2013			2013			2013			2013			2012
Total nonaccrual loans 1	$	37,605		$	57,926		$	62,011		$	64,452		$	65,041
Troubled debt restructurings - accruing	15,094			16,278			12,924			12,757			10,856
Total nonperforming loans	52,699			74,204			74,935			77,209			75,897
Total nonperforming assets	72,505			86,008			86,733			89,202			88,423
Nonperforming assets as a % of:
Period-end loans plus OREO	2.06		%	2.50		%	2.56		%	2.74		%	2.77		%
Total assets	1.13		%	1.38		%	1.38		%	1.40		%	1.36		%
Nonperforming assets ex. accruing TDRs as a % of:
Period-end loans plus OREO	1.63		%	2.03		%	2.17		%	2.34		%	2.43		%
Total assets	0.89		%	1.12		%	1.18		%	1.20		%	1.19		%
Nonperforming loans as a % of total loans	1.50		%	2.16		%	2.22		%	2.38		%	2.39		%
Provision for loan and lease losses - uncovered	$	1,851		$	1,413		$	2,409		$	3,041		$	3,882
Allowance for uncovered loan & lease losses	$	43,829		$	45,514		$	47,047		$	48,306		$	47,777
Allowance for loan & lease losses as a % of:
Total loans	1.25		%	1.33		%	1.39		%	1.49		%	1.50		%
Nonaccrual loans	116.6		%	78.6		%	75.9		%	75.0		%	73.5		%
Nonperforming loans	83.2		%	61.3		%	62.8		%	62.6		%	63.0		%
Total net charge-offs	$	3,536		$	2,946		$	3,668		$	2,512		$	5,297
Annualized net-charge-offs as a % of average
loans & leases	0.41		%	0.34		%	0.45		%	0.32		%	0.68		%
1  Includes nonaccrual troubled debt restructurings

Net Charge-offs

For the fourth quarter, net charge-offs increased $0.6 million to $3.5 million compared to the linked quarter. Significant charge-offs during the quarter included $1.8 million related to a commercial real estate credit that was transferred to OREO as well as $0.9 million associated with an unrelated commercial real estate credit.

Nonperforming Assets

Nonaccrual loans, including nonaccrual troubled debt restructurings, decreased $20.3 million, or 35.1%, to $37.6 million as of December 31, 2013 from $57.9 million as of September 30, 2013. Contributing to the decline were three commercial real estate credits totaling $7.5 million in the aggregate that returned to accrual status, $1.2 million in payoffs related to commercial and construction real estate credits and a $9.1 million commercial real estate credit that was charged down and transferred to OREO. Other activity included the addition to nonaccrual loans of a $0.6 million commercial credit and a $1.2 million commercial real estate credit. Included in the $7.5 million of loans that returned to accrual status was a single credit totaling $4.9 million that paid in full during January 2014.

Accruing troubled debt restructurings decreased $1.2 million, or 7.3%, to $15.1 million as of December 31, 2013 compared to the linked quarter. The decline was primarily driven by the transfer of a $1.2 million commercial credit to OREO during the quarter.

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OREO increased $8.0 million, or 67.8%, on a net basis to $19.8 million during the fourth quarter as additions of $9.4 million exceeded resolutions and valuation adjustments of $1.4 million during the quarter. Additions were driven by four properties totaling $9.2 million in the aggregate, while resolutions included one property totaling $0.6 million.

Classified assets as of December 31, 2013 declined $9.9 million, or 8.2%, to $110.5 million from $120.4 million for the linked quarter and decreased $18.5 million, or 14.4%, from $129.0 million as of December 31, 2012. Classified assets are defined by the Company as nonperforming assets plus performing loans internally rated substandard or worse.

Delinquent Loans

As of December 31, 2013, loans 30-to-89 days past due totaled $13.6 million, or 0.39% of period-end loans, as compared to $10.4 million, or 0.30%, as of September 30, 2013 and $16.3 million, or 0.51%, as of December 31, 2012. The increase of $3.2 million, or 31.1%, during the fourth quarter was driven primarily by a $3.3 million increase in delinquent commercial real estate credits during the period.

Provision for Loan & Lease Losses

Fourth quarter provision expense related to uncovered loans and leases was $1.9 million as compared to $1.4 million for the linked quarter and $3.9 million for the fourth quarter 2012. Provision expense is a result of the Company’s modeling efforts to estimate the period-end allowance for loan and lease losses. The allowance for loan and lease losses as a percent of period end loans was 1.25% as of December 31, 2013.

LOANS (EXCLUDING COVERED LOANS)

The following table presents the loan portfolio, excluding covered loans, as of December 31, 2013, September 30, 2013 and December 31, 2012.

Table IV
	As of
	December 31, 2013				September 30, 2013				December 31, 2012
			Percent				Percent				Percent
(Dollars in thousands)	Balance		of Total		Balance		of Total		Balance		of Total
Commercial	$	1,035,668	29.5	%	$	960,016	28.0	%	$	861,033	27.1	%
Real estate - construction	80,741		2.3	%	90,089		2.6	%	73,517		2.3	%
Real estate - commercial	1,496,987		42.7	%	1,493,969		43.5	%	1,417,008		44.6	%
Real estate - residential	352,931		10.1	%	352,830		10.3	%	318,210		10.0	%
Installment	47,133		1.3	%	49,273		1.4	%	56,810		1.8	%
Home equity	376,454		10.7	%	373,839		10.9	%	367,500		11.6	%
Credit card	35,592		1.0	%	34,285		1.0	%	34,198		1.1	%
Lease financing	80,135		2.3	%	76,615		2.2	%	50,788		1.6	%
Total	$	3,505,641	100.0	%	$	3,430,916	100.0	%	$	3,179,064	100.0	%

Loans, excluding covered loans, totaled $3.5 billion as of December 31, 2013, increasing $74.7 million, or 8.6% on an annualized basis, compared to the linked quarter and $326.6 million, or 10.3%, compared to December 31, 2012. The increase relative to the linked quarter was driven by growth in traditional C&I and owner-occupied commercial real estate lending, franchise finance and specialty finance.

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INVESTMENTS

The following table presents a summary of the total investment portfolio at December 31, 2013.

Table V
	As of December 31, 2013
	Held-to-		Available-for						% of
(Dollars in thousands)	Maturity		Sale		Other		Total		Portfolio
Debt obligations of the U.S. Government	$	—	$	21,223	$	—	$	21,223	1.2	%
Debt obligations of U.S. Government Agency	18,981		9,571		—		28,552		1.6	%
Residential Mortgage Backed Securities
Pass-through securities:
Agency fixed rate	86,819		109,398		—		196,217		10.9	%
Agency adjustable rate	145,019		41,667		—		186,686		10.4	%
Collateralized mortgage obligations:
Agency fixed rate	370,303		253,938		—		624,241		34.7	%
Agency variable rate	—		82,137		—		82,137		4.6	%
Agency collateralized and insured municipal securities	68,888		103,974		—		172,862		9.6	%
Commercial mortgage backed securities	145,977		119,275		—		265,252		14.8	%
Municipal bond securities	1,285		3,358		—		4,643		0.3	%
Corporate securities	—		110,513		—		110,513		6.1	%
Asset-backed securities	—		50,554		—		50,554		2.8	%
Regulatory stock	—		—		42,576		42,576		2.4	%
Other	—		7,993		4,851		12,844		0.7	%
	$	837,272	$	913,601	$	47,427	$	1,798,300	100.0	%

The investment portfolio increased $198.5 million, or 12.4%, during the fourth quarter as $289.1 million of purchases were offset by amortizations and other portfolio reductions. As of December 31, 2013, the overall duration of the investment portfolio increased to 4.3 years compared to 4.1 years as of September 30, 2013. The yield earned on the portfolio during the quarter increased 18 bps to 2.38% from 2.20% for the linked quarter, driven by the increase in interest rates and continued stabilization in premium amortization. Due primarily to the increase in interest rates during the quarter, the net unrealized loss included in accumulated other comprehensive loss related to the investment portfolio increased $6.5 million to $16.3 million as of December 31, 2013.

DEPOSITS

Non-time deposit balances totaled $3.9 billion as of December 31, 2013, increasing $82.2 million, or 2.2%, on a linked quarter basis. The Company experienced growth across multiple lines of business as public fund balances increased $38.8 million, consumer balances increased $26.4 million and commercial balances increased $15.2 million.

Time deposit balances increased $26.3 million, or 2.8%, compared to the linked quarter due primarily to an increase in consumer balances of $23.9 million driven by sales of a CD product celebrating the Company’s 150^th anniversary which offers incentives for opening additional checking or money market accounts.

The Company’s total cost of deposit funding, inclusive of noninterest-bearing balances, was 27 bps for the quarter, an increase of 3 bps compared to the prior quarter and a decrease of 11 bps compared to the fourth quarter 2012.

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CAPITAL MANAGEMENT

The following table presents First Financial’s regulatory and other capital ratios as of December 31, 2013, September 30, 2013 and December 31, 2012.

Table VI
	As of
	December 31,			September 30,			December 31,
	2013			2013			2012
Leverage Ratio	10.11		%	10.29		%	10.25		%
Tier 1 Capital Ratio	14.61		%	15.26		%	16.32		%
Total Risk-Based Capital Ratio	15.88		%	16.53		%	17.60		%
Ending tangible shareholders' equity
to ending tangible assets	9.20		%	9.60		%	9.50		%
Ending tangible common shareholders'
equity to ending tangible assets	9.20		%	9.60		%	9.50		%
Tangible book value per share	$	10.10		$	10.24		$	10.47

Shareholders’ equity decreased $9.9 million during the quarter due primarily to the change in the unrealized gain/loss related to the investment portfolio, the excess of dividends paid over net income for the quarter and share repurchases. The decline in shareholders’ equity combined with increases in both tangible assets and risk-weighted assets resulted in lower tangible common equity and regulatory capital ratios compared to the linked quarter. Regulatory capital ratios as of December 31, 2013 are considered preliminary pending the filing of the Company’s regulatory reports.

Teleconference / Webcast Information

First Financial’s executive management will host a conference call to discuss the Company’s financial and operating results on Friday, January 31, 2014 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 February 17, 2014 at (877) 344-7529 (U.S. toll free), (855) 669-9658 (Canada toll free) and +1 (412) 317-0088 (International); conference number 10039964. The webcast will be archived on the Investor Relations section of the Company’s website through January 31, 2015.

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.

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About First Financial Bancorp

First Financial Bancorp is a Cincinnati, Ohio based bank holding company. As of December 31, 2013, the Company had $6.4 billion in assets, $4.0 billion in loans, $4.8 billion in deposits and $682 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 $2.5 billion in assets under management as of December 31, 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 atwww.bankatfirst.com.

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. 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. These factors include, but are not limited to: economic, market, liquidity, credit, interest rate, operational and technological risks associated with the Company’s business; 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); management’s ability to effectively execute its business plan; mergers and acquisitions, including costs or difficulties related to the integration of acquired companies, including the recently announced proposed acquisitions of The First Bexley Bank and Insight Bank; the Company’s ability to comply with the terms of loss sharing agreements with the FDIC; the effect of changes in accounting policies and practices; and the costs and effects of litigation and of unexpected or adverse outcomes in such litigation. Please refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, as well as its other filings with the SEC, for a more detailed discussion of these risks, uncertainties and other factors that could cause actual results to differ from those discussed in the forward-looking statements. Such forward-looking statements are meaningful only on the date when such statements are made, and the Company 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.

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

10

Selected Financial Information

December 31, 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,															Twelve months ended,
	Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Dec. 31,
	2013			2013			2013			2013			2012			2013			2012
RESULTS OF OPERATIONS
Net income	$	3,785		$	14,911		$	15,829		$	13,824		$	16,265		$	48,349		$	67,303
Net earnings per share - basic	$	0.07		$	0.26		$	0.28		$	0.24		$	0.28		$	0.84		$	1.16
Net earnings per share - diluted	$	0.07		$	0.26		$	0.27		$	0.24		$	0.28		$	0.83		$	1.14
Dividends declared per share	$	0.15		$	0.27		$	0.24		$	0.28		$	0.28		$	0.94		$	1.18
KEY FINANCIAL RATIOS
Return on average assets	0.24		%	0.96		%	1.01		%	0.88		%	1.03		%	0.77		%	1.07		%
Return on average shareholders' equity	2.15		%	8.53		%	9.02		%	7.91		%	9.06		%	6.89		%	9.43		%
Return on average tangible shareholders' equity	2.51		%	10.00		%	10.54		%	9.24		%	10.58		%	8.05		%	11.01		%
Net interest margin	3.90		%	3.91		%	4.02		%	4.04		%	4.27		%	3.97		%	4.37		%
Net interest margin (fully tax equivalent) (1)	3.94		%	3.95		%	4.06		%	4.07		%	4.29		%	4.01		%	4.39		%
Ending shareholders' equity as a percent of ending assets	10.63		%	11.07		%	11.08		%	11.05		%	10.93		%	10.63		%	10.93		%
Ending tangible shareholders' equity as a percent of:
Ending tangible assets	9.20		%	9.60		%	9.62		%	9.60		%	9.50		%	9.20		%	9.50		%
Risk-weighted assets	13.59		%	14.27		%	14.50		%	15.05		%	15.57		%	13.59		%	15.57		%
Average shareholders' equity as a percent of average assets	11.23		%	11.19		%	11.15		%	11.09		%	11.35		%	11.17		%	11.30		%
Average tangible shareholders' equity as a percent of
average tangible assets	9.77		%	9.71		%	9.70		%	9.65		%	9.88		%	9.72		%	9.83		%
Book value per share	$	11.86		$	11.99		$	12.05		$	12.09		$	12.24		$	11.86		$	12.24
Tangible book value per share	$	10.10		$	10.24		$	10.29		$	10.33		$	10.47		$	10.10		$	10.47
Tier 1 Ratio (2)	14.61		%	15.26		%	15.41		%	15.87		%	16.32		%	14.61		%	16.32		%
Total Capital Ratio (2)	15.88		%	16.53		%	16.68		%	17.15		%	17.60		%	15.88		%	17.60		%
Leverage Ratio (2)	10.11		%	10.29		%	10.12		%	10.00		%	10.25		%	10.11		%	10.25		%
AVERAGE BALANCE SHEET ITEMS
Loans (3)	$	3,450,069		$	3,410,102		$	3,313,731		$	3,205,781		$	3,107,760		$	3,345,768		$	3,030,308
Covered loans and FDIC indemnification asset	568,385			655,654			758,875			840,190			920,102			704,894			1,050,114
Investment securities	1,654,374			1,589,666			1,705,219			1,838,783			1,746,961			1,696,211			1,682,821
Interest-bearing deposits with other banks	4,906			4,010			13,890			3,056			5,146			6,464			36,674
Total earning assets	$	5,677,734		$	5,659,432		$	5,791,715		$	5,887,810		$	5,779,969		$	5,753,337		$	5,799,917
Total assets	$	6,232,971		$	6,193,722		$	6,310,602		$	6,391,049		$	6,294,084		$	6,281,411		$	6,318,181
Noninterest-bearing deposits	$	1,129,097		$	1,072,259		$	1,063,102		$	1,049,943		$	1,112,072		$	1,078,800		$	1,035,319
Interest-bearing deposits	3,720,809			3,654,311			3,792,891			3,785,402			3,912,854			3,737,946			4,169,175
Total deposits	$	4,849,906		$	4,726,570		$	4,855,993		$	4,835,345		$	5,024,926		$	4,816,746		$	5,204,494
Borrowings	$	583,522		$	667,706		$	644,058		$	735,327		$	439,308		$	657,265		$	273,798
Shareholders' equity	$	700,063		$	693,158		$	703,804		$	708,862		$	714,373		$	701,425		$	713,717
CREDIT QUALITY RATIOS (excluding covered assets)
Allowance to ending loans	1.25		%	1.33		%	1.39		%	1.49		%	1.5		%	1.25		%	1.50		%
Allowance to nonaccrual loans	116.55		%	78.57		%	75.87		%	74.95		%	73.46		%	116.55		%	73.46		%
Allowance to nonperforming loans	83.17		%	61.34		%	62.78		%	62.57		%	62.95		%	83.17		%	62.95		%
Nonperforming loans to total loans	1.50		%	2.16		%	2.22		%	2.38		%	2.39		%	1.50		%	2.39		%
Nonperforming assets to ending loans, plus OREO	2.06		%	2.50		%	2.56		%	2.74		%	2.77		%	2.06		%	2.77		%
Nonperforming assets to total assets	1.13		%	1.38		%	1.38		%	1.4		%	1.36		%	1.13		%	1.36		%
Net charge-offs to average loans (annualized)	0.41		%	0.34		%	0.45		%	0.32		%	0.68		%	0.38		%	0.79		%

(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) December 31, 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,								Twelve months ended,
	Dec. 31,								Dec. 31,
	2013			2012			% Change		2013			2012			% Change
Interest income
Loans, including fees	$	52,351		$	60,389		(13.3	)%	$	216,306		$	249,751		(13.4	)%
Investment securities
Taxable	9,209			8,410			9.5	%	34,147			37,664			(9.3	)%
Tax-exempt	719			370			94.3	%	2,400			736			226.1	%
Total investment securities interest	9,928			8,780			13.1	%	36,547			38,400			(4.8	)%
Other earning assets	(2,432		)	(1,564		)	55.5	%	(7,645		)	(7,221		)	5.9	%
Total interest income	59,847			67,605			(11.5	)%	245,208			280,930			(12.7	)%
Interest expense
Deposits	3,247			4,798			(32.3	)%	13,247			24,625			(46.2	)%
Short-term borrowings	257			159			61.6	%	1,177			262			349.2	%
Long-term borrowings	539			672			(19.8	)%	2,464			2,702			(8.8	)%
Total interest expense	4,043			5,629			(28.2	)%	16,888			27,589			(38.8	)%
Net interest income	55,804			61,976			(10.0	)%	228,320			253,341			(9.9	)%
Provision for loan and lease losses - uncovered	1,851			3,882			(52.3	)%	8,714			19,117			(54.4	)%
Provision for loan and lease losses - covered	(5,857		)	5,283			(210.9	)%	195			30,903			(99.4	)%
Net interest income after provision for loan and lease losses	59,810			52,811			13.3	%	219,411			203,321			7.9	%
Noninterest income
Service charges on deposit accounts	5,226			5,431			(3.8	)%	20,595			21,215			(2.9	)%
Trust and wealth management fees	3,506			3,409			2.8	%	14,319			13,951			2.6	%
Bankcard income	2,699			2,526			6.8	%	10,914			10,028			8.8	%
Net gains from sales of loans	604			1,179			(48.8	)%	3,150			4,570			(31.1	)%
Gain on sale of investment securities	0			1,011			(100.0	)%	1,724			3,628			(52.5	)%
FDIC loss sharing income	(3,385		)	5,754			(158.8	)%	3,720			35,346			(89.5	)%
Accelerated discount on covered loans	1,572			2,455			(36.0	)%	7,153			13,662			(47.6	)%
Other	2,821			4,356			(35.2	)%	12,072			20,021			(39.7	)%
Total noninterest income	13,043			26,121			(50.1	)%	73,647			122,421			(39.8	)%
Noninterest expenses
Salaries and employee benefits	24,023			28,033			(14.3	)%	101,402			113,154			(10.4	)%
Pension settlement charges	462			0			N/M		6,174			0			N/M
Net occupancy	4,557			5,122			(11.0	)%	21,207			20,682			2.5	%
Furniture and equipment	2,136			2,291			(6.8	)%	8,970			9,190			(2.4	)%
Data processing	2,617			2,526			3.6	%	10,229			8,837			15.8	%
Marketing	999			1,566			(36.2	)%	4,270			5,550			(23.1	)%
Communication	728			814			(10.6	)%	3,207			3,409			(5.9	)%
Professional services	1,781			1,667			6.8	%	6,876			7,269			(5.4	)%
State intangible tax	901			942			(4.4	)%	3,929			3,899			0.8	%
FDIC assessments	1,121			1,085			3.3	%	4,501			4,682			(3.9	)%
Loss (gain) - other real estate owned	348			569			(38.8	)%	1,250			3,250			(61.5	)%
Loss (gain) - covered other real estate owned	946			(54		)	(1,851.9	)%	(1,219		)	2,446			(149.8	)%
Loss sharing expense	1,495			2,305			(35.1	)%	7,083			10,725			(34.0	)%
FDIC indemnification impairment	22,417			0			N/M		22,417			0			N/M
Other	5,754			6,608			(12.9	)%	25,179			28,904			(12.9	)%
Total noninterest expenses	70,285			53,474			31.4	%	225,475			221,997			1.6	%
Income before income taxes	2,568			25,458			(89.9	)%	67,583			103,745			(34.9	)%
Income tax expense	(1,217		)	9,193			(113.2	)%	19,234			36,442			(47.2	)%
Net income	$	3,785		$	16,265		(76.7	)%	$	48,349		$	67,303		(28.2	)%
ADDITIONAL DATA
Net earnings per share - basic	$	0.07		$	0.28				$	0.84		$	1.16
Net earnings per share - diluted	$	0.07		$	0.28				$	0.83		$	1.14
Dividends declared per share	$	0.15		$	0.28				$	0.94		$	1.18
Return on average assets	0.24		%	1.03		%			0.77		%	1.07		%
Return on average shareholders' equity	2.15		%	9.06		%			6.89		%	9.43		%
Interest income	$	59,847		$	67,605		(11.5	)%	$	245,208		$	280,930		(12.7	)%
Tax equivalent adjustment	635			366			73.5	%	2,142			1,055			103.0	%
Interest income - tax equivalent	60,482			67,971			(11.0	)%	247,350			281,985			(12.3	)%
Interest expense	4,043			5,629			(28.2	)%	16,888			27,589			(38.8	)%
Net interest income - tax equivalent	$	56,439		$	62,342		(9.5	)%	$	230,462		$	254,396		(9.4	)%
Net interest margin	3.90		%	4.27		%			3.97		%	4.37		%
Net interest margin (fully tax equivalent) (1)	3.94		%	4.29		%			4.01		%	4.39		%
Full-time equivalent employees	1,306			1,439
(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
	Fourth			Third			Second			First						% Change
	Quarter			Quarter			Quarter			Quarter			YTD			Linked Qtr.
Interest income
Loans, including fees	$	52,351		$	52,908		$	55,022		$	56,025		$	216,306		(1.1	)%
Investment securities
Taxable	9,209			8,267			8,295			8,376			34,147			11.4	%
Tax-exempt	719			541			560			580			2,400			32.9	%
Total investment securities interest	9,928			8,808			8,855			8,956			36,547			12.7	%
Other earning assets	(2,432		)	(2,185		)	(1,556		)	(1,472		)	(7,645		)	11.3	%
Total interest income	59,847			59,531			62,321			63,509			245,208			0.5	%
Interest expense
Deposits	3,247			2,856			3,284			3,860			13,247			13.7	%
Short-term borrowings	257			286			305			329			1,177			(10.1	)%
Long-term borrowings	539			617			654			654			2,464			(12.6	)%
Total interest expense	4,043			3,759			4,243			4,843			16,888			7.6	%
Net interest income	55,804			55,772			58,078			58,666			228,320			0.1	%
Provision for loan and lease losses - uncovered	1,851			1,413			2,409			3,041			8,714			31.0	%
Provision for loan and lease losses - covered	(5,857		)	5,293			(8,283		)	9,042			195			(210.7	)%
Net interest income after provision for loan and lease losses	59,810			49,066			63,952			46,583			219,411			21.9	%
Noninterest income
Service charges on deposit accounts	5,226			5,447			5,205			4,717			20,595			(4.1	)%
Trust and wealth management fees	3,506			3,366			3,497			3,950			14,319			4.2	%
Bankcard income	2,699			2,637			3,145			2,433			10,914			2.4	%
Net gains from sales of loans	604			751			1,089			706			3,150			(19.6	)%
Gain on sale of investment securities	0			0			188			1,536			1,724			N/M
FDIC loss sharing income	(3,385		)	5,555			(7,384		)	8,934			3,720			(160.9	)%
Accelerated discount on covered loans	1,572			1,711			1,935			1,935			7,153			(8.1	)%
Other	2,821			2,824			3,940			2,487			12,072			(0.1	)%
Total noninterest income	13,043			22,291			11,615			26,698			73,647			(41.5	)%
Noninterest expenses
Salaries and employee benefits	24,023			23,834			26,216			27,329			101,402			0.8	%
Pension settlement charges	462			1,396			4,316			0			6,174			(66.9	)%
Net occupancy	4,557			5,101			5,384			6,165			21,207			(10.7	)%
Furniture and equipment	2,136			2,213			2,250			2,371			8,970			(3.5	)%
Data processing	2,617			2,584			2,559			2,469			10,229			1.3	%
Marketing	999			1,192			1,182			897			4,270			(16.2	)%
Communication	728			865			781			833			3,207			(15.8	)%
Professional services	1,781			1,528			1,764			1,803			6,876			16.6	%
State intangible tax	901			1,010			1,004			1,014			3,929			(10.8	)%
FDIC assessments	1,121			1,107			1,148			1,125			4,501			1.3	%
Loss (gain) - other real estate owned	348			184			216			502			1,250			89.1	%
Loss (gain) - covered other real estate owned	946			204			(2,212		)	(157		)	(1,219		)	363.7	%
Loss sharing expense	1,495			1,724			1,578			2,286			7,083			(13.3	)%
FDIC indemnification impairment	22,417			0			0			0			22,417			N/M
Other	5,754			5,859			7,097			6,469			25,179			(1.8	)%
Total noninterest expenses	70,285			48,801			53,283			53,106			225,475			44.0	%
Income before income taxes	2,568			22,556			22,284			20,175			67,583			(88.6	)%
Income tax expense	(1,217		)	7,645			6,455			6,351			19,234			(115.9	)%
Net income	$	3,785		$	14,911		$	15,829		$	13,824		$	48,349		(74.6	)%
ADDITIONAL DATA
Net earnings per share - basic	$	0.07		$	0.26		$	0.28		$	0.24		$	0.84
Net earnings per share - diluted	$	0.07		$	0.26		$	0.27		$	0.24		$	0.83
Dividends declared per share	$	0.15		$	0.27		$	0.24		$	0.28		$	0.94
Return on average assets	0.24		%	0.96		%	1.01		%	0.88		%	0.77		%
Return on average shareholders' equity	2.15		%	8.53		%	9.02		%	7.91		%	6.89		%
Interest income	$	59,847		$	59,531		$	62,321		$	63,509		$	245,208		0.5	%
Tax equivalent adjustment	635			516			514			477			2,142			23.1	%
Interest income - tax equivalent	60,482			60,047			62,835			63,986			247,350			0.7	%
Interest expense	4,043			3,759			4,243			4,843			16,888			7.6	%
Net interest income - tax equivalent	$	56,439		$	56,288		$	58,592		$	59,143		$	230,462		0.3	%
Net interest margin	3.90		%	3.91		%	4.02		%	4.04		%	3.97		%
Net interest margin (fully tax equivalent) (1)	3.94		%	3.95		%	4.06		%	4.07		%	4.01		%
Full-time equivalent employees	1,306			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
Gain on sale of investment securities	1,011			2,617			0			0			3,628
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
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)
	Dec. 30,			Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			% Change		% Change
	2013			2013			2013			2013			2012			Linked Qtr.		Comparable Qtr.
ASSETS
Cash and due from banks	$	117,620		$	177,698		$	114,745		$	106,249		$	134,502		(33.8	)%	(12.6	)%
Interest-bearing deposits with other banks	25,830			10,414			2,671			1,170			24,341			148.0	%	6.1	%
Investment securities available-for-sale	913,601			854,747			884,694			952,039			1,032,096			6.9	%	(11.5	)%
Investment securities held-to-maturity	837,272			669,093			670,246			716,214			770,755			25.1	%	8.6	%
Other investments	47,427			75,945			75,645			75,375			71,492			(37.6	)%	(33.7	)%
Loans held for sale	8,114			10,704			18,650			28,126			16,256			(24.2	)%	(50.1	)%
Loans
Commercial	1,035,668			960,016			940,420			892,381			861,033			7.9	%	20.3	%
Real estate - construction	80,741			90,089			97,246			87,542			73,517			(10.4	)%	9.8	%
Real estate - commercial	1,496,987			1,493,969			1,477,226			1,433,182			1,417,008			0.2	%	5.6	%
Real estate - residential	352,931			352,830			343,016			330,260			318,210			0.0	%	10.9	%
Installment	47,133			49,273			50,781			53,509			56,810			(4.3	)%	(17.0	)%
Home equity	376,454			373,839			370,206			365,943			367,500			0.7	%	2.4	%
Credit card	35,592			34,285			33,222			32,465			34,198			3.8	%	4.1	%
Lease financing	80,135			76,615			70,011			53,556			50,788			4.6	%	57.8	%
Total loans, excluding covered loans	3,505,641			3,430,916			3,382,128			3,248,838			3,179,064			2.2	%	10.3	%
Less
Allowance for loan and lease losses	43,829			45,514			47,047			48,306			47,777			(3.7	)%	(8.3	)%
Net loans - uncovered	3,461,812			3,385,402			3,335,081			3,200,532			3,131,287			2.3	%	10.6	%
Covered loans	457,873			518,524			622,265			687,798			748,116			(11.7	)%	(38.8	)%
Less
Allowance for loan and lease losses	18,901			23,259			32,961			45,496			45,190			(18.7	)%	(58.2	)%
Net loans - covered	438,972			495,265			589,304			642,302			702,926			(11.4	)%	(37.6	)%
Net loans	3,900,784			3,880,667			3,924,385			3,842,834			3,834,213			0.5	%	1.7	%
Premises and equipment	137,110			139,125			142,675			146,889			146,716			(1.4	)%	(6.5	)%
Goodwill	95,050			95,050			95,050			95,050			95,050			0.0	%	0.0	%
Other intangibles	5,924			6,249			6,620			7,078			7,648			(5.2	)%	(22.5	)%
FDIC indemnification asset	45,091			78,132			88,966			112,428			119,607			(42.3	)%	(62.3	)%
Accrued interest and other assets	283,390			255,617			250,228			265,565			244,372			10.9	%	16.0	%
Total Assets	$	6,417,213		$	6,253,441		$	6,274,575		$	6,349,017		$	6,497,048		2.6	%	(1.2	)%
LIABILITIES
Deposits
Interest-bearing demand	$	1,125,723		$	1,068,067		$	1,131,466		$	1,113,940		$	1,160,815		5.4	%	(3.0	)%
Savings	1,612,005			1,593,895			1,601,122			1,620,874			1,623,614			1.1	%	(0.7	)%
Time	952,327			926,029			978,680			1,030,124			1,068,637			2.8	%	(10.9	)%
Total interest-bearing deposits	3,690,055			3,587,991			3,711,268			3,764,938			3,853,066			2.8	%	(4.2	)%
Noninterest-bearing	1,147,452			1,141,016			1,059,368			1,056,409			1,102,774			0.6	%	4.1	%
Total deposits	4,837,507			4,729,007			4,770,636			4,821,347			4,955,840			2.3	%	(2.4	)%
Federal funds purchased and securities sold
under agreements to repurchase	94,749			105,472			114,030			130,863			122,570			(10.2	)%	(22.7	)%
FHLB short-term borrowings	654,000			518,200			505,900			502,200			502,000			26.2	%	30.3	%
Total short-term borrowings	748,749			623,672			619,930			633,063			624,570			20.1	%	19.9	%
Long-term debt	60,780			61,088			73,957			74,498			75,202			(0.5	)%	(19.2	)%
Total borrowed funds	809,529			684,760			693,887			707,561			699,772			18.2	%	15.7	%
Accrued interest and other liabilities	88,016			147,635			114,600			118,495			131,011			(40.4	)%	(32.8	)%
Total Liabilities	5,735,052			5,561,402			5,579,123			5,647,403			5,786,623			3.1	%	(0.9	)%
SHAREHOLDERS' EQUITY
Common stock	577,076			577,429			576,641			575,514			579,293			(0.1	)%	(0.4	)%
Retained earnings	324,192			328,993			329,633			327,635			330,004			(1.5	)%	(1.8	)%
Accumulated other comprehensive loss	(31,281		)	(29,294		)	(25,645		)	(21,475		)	(18,677		)	6.8	%	67.5	%
Treasury stock, at cost	(187,826		)	(185,089		)	(185,177		)	(180,060		)	(180,195		)	1.5	%	4.2	%
Total Shareholders' Equity	682,161			692,039			695,452			701,614			710,425			(1.4	)%	(4.0	)%
Total Liabilities and Shareholders' Equity	$	6,417,213		$	6,253,441		$	6,274,575		$	6,349,017		$	6,497,048		2.6	%	(1.2	)%

6

FIRST FINANCIAL BANCORP.
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in thousands)
(Unaudited)
	Quarterly Averages															Year-to-Date Averages
	Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Dec. 31,
	2013			2013			2013			2013			2012			2013			2012
ASSETS
Cash and due from banks	$	110,246		$	120,154		$	119,909		$	111,599		$	118,619		$	115,486		$	120,492
Interest-bearing deposits with other banks	4,906			4,010			13,890			3,056			5,146			6,464			36,674
Investment securities	1,654,374			1,589,666			1,705,219			1,838,783			1,746,961			1,696,211			1,682,821
Loans held for sale	7,990			13,349			19,722			21,096			18,054			15,497			20,848
Loans
Commercial	986,438			937,939			904,029			863,427			819,262			923,336			827,205
Real estate - construction	79,194			93,103			93,813			81,171			85,219			86,832			97,278
Real estate - commercial	1,489,858			1,488,047			1,445,626			1,411,769			1,373,781			1,459,119			1,303,155
Real estate - residential	351,929			347,110			334,652			323,768			307,580			339,463			294,803
Installment	47,733			50,130			52,313			54,684			58,283			51,193			61,768
Home equity	374,919			371,072			367,408			365,568			368,605			369,771			363,470
Credit card	35,673			34,176			33,785			33,300			32,954			34,240			31,882
Lease financing	76,335			75,176			62,383			50,998			44,022			66,317			29,899
Total loans, excluding covered loans	3,442,079			3,396,753			3,294,009			3,184,685			3,089,706			3,330,271			3,009,460
Less
Allowance for loan and lease losses	46,531			49,451			50,172			49,408			50,172			48,884			51,378
Net loans - uncovered	3,395,548			3,347,302			3,243,837			3,135,277			3,039,534			3,281,387			2,958,082
Covered loans	490,072			573,243			653,892			724,846			794,838			609,768			907,520
Less
Allowance for loan and lease losses	21,733			31,208			41,861			46,104			48,553			35,149			48,711
Net loans - covered	468,339			542,035			612,031			678,742			746,285			574,619			858,809
Net loans	3,863,887			3,889,337			3,855,868			3,814,019			3,785,819			3,856,006			3,816,891
Premises and equipment	138,644			141,498			144,759			147,355			148,047			143,036			144,238
Goodwill	95,050			95,050			95,050			95,050			95,050			95,050			95,050
Other intangibles	6,075			6,428			6,831			7,346			8,001			6,666			9,240
FDIC indemnification asset	78,313			82,411			104,983			115,344			125,264			95,126			142,594
Accrued interest and other assets	273,486			251,819			244,371			237,401			243,123			251,869			249,333
Total Assets	$	6,232,971		$	6,193,722		$	6,310,602		$	6,391,049		$	6,294,084		$	6,281,411		$	6,318,181
LIABILITIES
Deposits
Interest-bearing demand	$	1,150,275		$	1,098,524		$	1,141,767		$	1,112,664		$	1,145,800		$	1,125,836		$	1,196,764
Savings	1,637,657			1,608,351			1,639,834			1,618,239			1,640,427			1,626,025			1,630,426
Time	932,877			947,436			1,011,290			1,054,499			1,126,627			986,085			1,341,985
Total interest-bearing deposits	3,720,809			3,654,311			3,792,891			3,785,402			3,912,854			3,737,946			4,169,175
Noninterest-bearing	1,129,097			1,072,259			1,063,102			1,049,943			1,112,072			1,078,800			1,035,319
Total deposits	4,849,906			4,726,570			4,855,993			4,835,345			5,024,926			4,816,746			5,204,494
Federal funds purchased and securities sold
under agreements to repurchase	107,738			114,505			105,299			134,709			100,087			115,486			86,980
FHLB short-term borrowings	414,892			483,937			464,630			525,878			263,895			472,062			111,295
Total short-term borrowings	522,630			598,442			569,929			660,587			363,982			587,548			198,275
Long-term debt	60,892			69,264			74,129			74,740			75,326			69,717			75,523
Total borrowed funds	583,522			667,706			644,058			735,327			439,308			657,265			273,798
Accrued interest and other liabilities	99,480			106,288			106,747			111,515			115,477			105,975			126,172
Total Liabilities	5,532,908			5,500,564			5,606,798			5,682,187			5,579,711			5,579,986			5,604,464
SHAREHOLDERS' EQUITY
Common stock	577,851			576,953			576,391			578,452			578,691			577,409			577,759
Retained earnings	337,034			329,518			329,795			330,879			331,414			331,817			329,615
Accumulated other comprehensive loss	(28,380		)	(28,232		)	(19,204		)	(19,576		)	(19,612		)	(23,884		)	(18,987		)
Treasury stock, at cost	(186,442		)	(185,081		)	(183,178		)	(180,893		)	(176,120		)	(183,917		)	(174,670		)
Total Shareholders' Equity	700,063			693,158			703,804			708,862			714,373			701,425			713,717
Total Liabilities and Shareholders' Equity	$	6,232,971		$	6,193,722		$	6,310,602		$	6,391,049		$	6,294,084		$	6,281,411		$	6,318,181

7

FIRST FINANCIAL BANCORP.
NET INTEREST MARGIN RATE/VOLUME ANALYSIS (1)
(Dollars in thousands)
(Unaudited)
	Quarterly Averages															Year-to-Date Averages
	Dec. 31, 2013					Sep. 30, 2013					Dec. 31, 2012					Dec. 31, 2013					Dec. 31, 2012
	Balance			Yield		Balance			Yield		Balance			Yield		Balance			Yield		Balance			Yield
Earning assets
Investments:
Investment securities	$	1,654,374		2.38	%	$	1,589,666		2.20	%	$	1,746,961		1.99	%	$	1,696,211		2.15	%	$	1,682,821		2.28	%
Interest-bearing deposits with other banks	4,906			0.57	%	4,010			0.49	%	5,146			0.54	%	6,464			0.42	%	36,674			0.30	%
Gross loans (2)	4,018,454			4.93	%	4,065,756			4.95	%	4,027,862			5.79	%	4,050,662			5.15	%	4,080,422			5.94	%
Total earning assets	5,677,734			4.18	%	5,659,432			4.17	%	5,779,969			4.64	%	5,753,337			4.26	%	5,799,917			4.84	%
Nonearning assets
Allowance for loan and lease losses	(68,264		)			(80,659		)			(98,725		)			(84,033		)			(100,089		)
Cash and due from banks	110,246					120,154					118,619					115,486					120,492
Accrued interest and other assets	513,255					494,795					494,221					496,621					497,861
Total assets	$	6,232,971				$	6,193,722				$	6,294,084				$	6,281,411				$	6,318,181
Interest-bearing liabilities
Deposits:
Interest-bearing demand	$	1,150,275		0.19	%	$	1,098,524		0.12	%	$	1,145,800		0.13	%	$	1,125,836		0.13	%	$	1,196,764		0.13	%
Savings	1,637,657			0.15	%	1,608,351			0.09	%	1,640,427			0.11	%	1,626,025			0.11	%	1,630,426			0.12	%
Time	932,877			0.90	%	947,436			0.90	%	1,126,627			1.40	%	986,085			1.01	%	1,341,985			1.57	%
Total interest-bearing deposits	3,720,809			0.35	%	3,654,311			0.31	%	3,912,854			0.49	%	3,737,946			0.35	%	4,169,175			0.59	%
Borrowed funds
Short-term borrowings	522,630			0.20	%	598,442			0.19	%	363,982			0.17	%	587,548			0.20	%	198,275			0.13	%
Long-term debt	60,892			3.51	%	69,264			3.53	%	75,326			3.54	%	69,717			3.53	%	75,523			3.58	%
Total borrowed funds	583,522			0.54	%	667,706			0.54	%	439,308			0.75	%	657,265			0.55	%	273,798			1.08	%
Total interest-bearing liabilities	4,304,331			0.37	%	4,322,017			0.35	%	4,352,162			0.51	%	4,395,211			0.38	%	4,442,973			0.62	%
Noninterest-bearing liabilities
Noninterest-bearing demand deposits	1,129,097					1,072,259					1,112,072					1,078,800					1,035,319
Other liabilities	99,480					106,288					115,477					105,975					126,172
Shareholders' equity	700,063					693,158					714,373					701,425					713,717
Total liabilities & shareholders' equity	$	6,232,971				$	6,193,722				$	6,294,084				$	6,281,411				$	6,318,181
Net interest income (1)	$	55,804				$	55,772				$	61,976				$	228,320				$	253,341
Net interest spread (1)				3.81	%				3.82	%				4.13	%				3.88	%				4.22	%
Net interest margin (1)				3.90	%				3.91	%				4.27	%				3.97	%				4.37	%
(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	$	732		$	388		$	1,120		$	1,704		$	(556	)	$	1,148		$	(2,142	)	$	289		$	(1,853	)
Interest-bearing deposits with other banks	1			1			2			0			0			0			42			(126		)	(84		)
Gross loans (2)	(218		)	(588		)	(806		)	(8,789		)	(117		)	(8,906		)	(32,252		)	(1,533		)	(33,785		)
Total earning assets	515			(199		)	316			(7,085		)	(673		)	(7,758		)	(34,352		)	(1,370		)	(35,722		)
Interest-bearing liabilities
Total interest-bearing deposits	$	333		$	58		$	391		$	(1,383	)	$	(168	)	$	(1,551	)	$	(9,850	)	$	(1,528	)	$	(11,378	)
Borrowed funds
Short-term borrowings	8			(37		)	(29		)	20			78			98			135			780			915
Long-term debt	(4		)	(74		)	(78		)	(5		)	(128		)	(133		)	(33		)	(205		)	(238		)
Total borrowed funds	4			(111		)	(107		)	15			(50		)	(35		)	102			575			677
Total interest-bearing liabilities	337			(53		)	284			(1,368		)	(218		)	(1,586		)	(9,748		)	(953		)	(10,701		)
Net interest income (1)	$	178		$	(146	)	$	32		$	(5,717	)	$	(455	)	$	(6,172	)	$	(24,604	)	$	(417	)	$	(25,021	)
(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)
	Dec. 31,			Sep. 30,			Jun. 30,			Mar 31,			Dec. 31,			Full Year			Full Year
	2013			2013			2013			2013			2012			2013			2012
ALLOWANCE FOR LOAN AND LEASE LOSS ACTIVITY
Balance at beginning of period	$	45,514		$	47,047		$	48,306		$	47,777		$	49,192		$	47,777		$	52,576
Provision for uncovered loan and lease losses	1,851			1,413			2,409			3,041			3,882			8,714			19,117
Gross charge-offs
Commercial	293			1,482			859			781			657			3,415			4,312
Real estate - construction	1			0			0			0			0			1			2,684
Real estate - commercial	3,113			2,174			2,044			995			2,221			8,326			11,012
Real estate - residential	218			249			326			223			454			1,016			1,814
Installment	39			99			97			100			267			335			577
Home equity	706			411			591			701			1,722			2,409			3,661
Other	398			696			277			410			227			1,781			1,252
Total gross charge-offs	4,768			5,111			4,194			3,210			5,548			17,283			25,312
Recoveries
Commercial	194			92			67			319			71			672			393
Real estate - construction	46			490			0			136			0			672			0
Real estate - commercial	634			1,264			57			39			46			1,994			265
Real estate - residential	96			98			5			4			3			203			73
Installment	66			57			110			77			53			310			323
Home equity	136			95			225			52			32			508			115
Other	60			69			62			71			46			262			227
Total recoveries	1,232			2,165			526			698			251			4,621			1,396
Total net charge-offs	3,536			2,946			3,668			2,512			5,297			12,662			23,916
Ending allowance for uncovered loan and lease losses	$	43,829		$	45,514		$	47,047		$	48,306		$	47,777		$	43,829		$	47,777
NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)
Commercial	0.04		%	0.59		%	0.35		%	0.22		%	0.28		%	0.30		%	0.47		%
Real estate - construction	(0.23		)%	(2.09		)%	0.00		%	(0.68		)%	0.00		%	(0.77		)%	2.76		%
Real estate - commercial	0.66		%	0.24		%	0.55		%	0.27		%	0.63		%	0.43		%	0.82		%
Real estate - residential	0.14		%	0.17		%	0.38		%	0.27		%	0.58		%	0.24		%	0.59		%
Installment	(0.22		)%	0.33		%	(0.10		)%	0.17		%	1.46		%	0.05		%	0.41		%
Home equity	0.60		%	0.34		%	0.40		%	0.72		%	1.82		%	0.51		%	0.98		%
Other	1.20		%	2.27		%	0.90		%	1.63		%	0.94		%	1.51		%	1.66		%
Total net charge-offs	0.41		%	0.34		%	0.45		%	0.32		%	0.68		%	0.38		%	0.79		%
COMPONENTS OF NONPERFORMING LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans 1
Commercial	$	7,934		$	8,554		$	12,925		$	16,296		$	15,893		$	7,934		$	15,893
Real estate - construction	223			1,099			1,104			2,094			2,102			223			2,102
Real estate - commercial	17,286			35,549			35,055			33,871			34,977			17,286			34,977
Real estate - residential	8,606			9,346			9,369			8,295			7,869			8,606			7,869
Installment	574			421			249			341			452			574			452
Home equity	2,982			2,871			2,813			3,059			3,252			2,982			3,252
Lease financing	0			86			496			496			496			0			496
Nonaccrual loans	37,605			57,926			62,011			64,452			65,041			37,605			65,041
Accruing troubled debt restructurings (TDRs)	15,094			16,278			12,924			12,757			10,856			15,094			10,856
Total nonperforming loans	52,699			74,204			74,935			77,209			75,897			52,699			75,897
Other real estate owned (OREO)	19,806			11,804			11,798			11,993			12,526			19,806			12,526
Total nonperforming assets	72,505			86,008			86,733			89,202			88,423			72,505			88,423
Accruing loans past due 90 days or more	218			265			158			157			212			218			212
Total underperforming assets	$	72,723		$	86,273		$	86,891		$	89,359		$	88,635		$	72,723		$	88,635
Total classified assets	$	110,509		$	120,423		$	129,832		$	130,436		$	129,040		$	110,509		$	129,040
CREDIT QUALITY RATIOS (excluding covered assets)
Allowance for loan and lease losses to
Nonaccrual loans	116.55		%	78.57		%	75.87		%	74.95		%	73.46		%	116.55		%	73.46		%
Nonperforming loans	83.17		%	61.34		%	62.78		%	62.57		%	62.95		%	83.17		%	62.95		%
Total ending loans	1.25		%	1.33		%	1.39		%	1.49		%	1.50		%	1.25		%	1.50		%
Nonperforming loans to total loans	1.50		%	2.16		%	2.22		%	2.38		%	2.39		%	1.50		%	2.39		%
Nonperforming assets to
Ending loans, plus OREO	2.06		%	2.50		%	2.56		%	2.74		%	2.77		%	2.06		%	2.77		%
Total assets	1.13		%	1.38		%	1.38		%	1.40		%	1.36		%	1.13		%	1.36		%
Nonperforming assets, excluding accruing TDRs to
Ending loans, plus OREO	1.63		%	2.03		%	2.17		%	2.34		%	2.43		%	1.63		%	2.43		%
Total assets	0.89		%	1.12		%	1.18		%	1.20		%	1.19		%	0.89		%	1.19		%
1  Nonaccrual loans include nonaccrual TDRs of $13.0 million, $13.0 million, $19.9 million, $22.3 million, and $14.1 million as of December 31, 2013, September 30, 2013, June 30, 2013, March 31, 2013, December 31, 2012, respectively.

10

FIRST FINANCIAL BANCORP.
CAPITAL ADEQUACY
(Dollars in thousands, except per share data)
(Unaudited)
																Twelve months ended,
	Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Dec. 31,			Dec. 31,
	2013			2013			2013			2013			2012			2013			2012
PER COMMON SHARE
Market Price
High	$	17.59		$	16.47		$	16.05		$	16.07		$	16.95		$	17.59		$	18.28
Low	$	14.56		$	14.89		$	14.52		$	14.46		$	13.90		$	14.46		$	13.90
Close	$	17.43		$	15.17		$	14.90		$	16.05		$	14.62		$	17.43		$	14.62
Average shares outstanding - basic	57,152,425			57,201,390			57,291,994			57,439,029			57,800,988			57,270,233			57,876,685
Average shares outstanding - diluted	57,863,433			58,012,588			58,128,349			58,283,467			58,670,666			58,073,054			58,868,792
Ending shares outstanding	57,533,046			57,702,444			57,698,344			58,028,923			58,046,235			57,533,046			58,046,235
REGULATORY CAPITAL	Preliminary															Preliminary
Tier 1 Capital	$	624,746		$	631,846		$	630,819		$	632,020		$	637,176		$	624,746		$	637,176
Tier 1 Ratio	14.61		%	15.26		%	15.41		%	15.87		%	16.32		%	14.61		%	16.32		%
Total Capital	$	678,970		$	684,363		$	682,927		$	682,974		$	686,961		$	678,970		$	686,961
Total Capital Ratio	15.88		%	16.53		%	16.68		%	17.15		%	17.60		%	15.88		%	17.6		%
Total Capital in excess of minimum
requirement	$	336,878		$	353,118		$	355,435		$	364,376		$	374,633		$	336,878		$	374,633
Total Risk-Weighted Assets	$	4,276,153		$	4,140,561		$	4,093,644		$	3,982,479		$	3,904,096		$	4,276,153		$	3,904,096
Leverage Ratio	10.11		%	10.29		%	10.12		%	10.00		%	10.25		%	10.11		%	10.25		%
OTHER CAPITAL RATIOS
Ending shareholders' equity to ending assets	10.63		%	11.07		%	11.08		%	11.05		%	10.93		%	10.63		%	10.93		%
Ending tangible shareholders' equity to ending tangible assets	9.20		%	9.60		%	9.62		%	9.60		%	9.50		%	9.20		%	9.50		%
Average shareholders' equity to average assets	11.23		%	11.19		%	11.15		%	11.09		%	11.35		%	11.17		%	11.30		%
Average tangible shareholders' equity to average tangible assets	9.77		%	9.71		%	9.70		%	9.65		%	9.88		%	9.72		%	9.83		%
REPURCHASE PROGRAM (1)
Shares repurchased	209,745			0			291,400			249,000			460,500			750,145			460,500
Average share repurchase price	$	16.39		N/A			$	15.47		$	15.39		$	14.78		$	15.70		$	14.78
Total cost of shares repurchased	$	3,438		N/A			$	4,508		$	3,831		$	6,806		$	11,778		$	6,806
(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 fourth quarter, First Financial recognized approximately $1.6 million in accelerated discount on covered loans, net of the related 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.

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 December 31, 2013.

Table VII
	For the Three Months Ended December 31, 2013
	Average
(Dollars in thousands)	Balance		Yield
Loans, excluding covered loans 1	$	3,450,069	4.51%
Covered loan portfolio accounted for under ASC Topic 310-30 2	432,498		10.16%
Covered loan portfolio accounted for under ASC Topic 310-20 3	57,574		14.08%
FDIC indemnification asset 2	78,313		(12.36)%
Total	$	4,018,454	4.93%
Yield earned on total covered loans			10.62%
Yield earned on total covered loans and FDIC indemnification asset			7.45%
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

12

COVERED ASSETS

The following table presents the covered loan portfolio as of December 31, 2013, September 30, 2013 and December 31, 2012.

Table VIII
	As of
	December 31, 2013				September 30, 2013				December 31, 2012
			Percent				Percent				Percent
(Dollars in thousands)	Balance		of Total		Balance		of Total		Balance		of Total
Commercial	$	42,316	9.2	%	$	52,276	10.1	%	$	102,126	13.7	%
Real estate - construction	8,556		1.9	%	8,692		1.7	%	10,631		1.4	%
Real estate - commercial	268,633		58.7	%	312,798		60.3	%	465,555		62.2	%
Real estate - residential	80,733		17.6	%	84,418		16.3	%	100,694		13.5	%
Installment	5,641		1.2	%	6,135		1.2	%	8,674		1.2	%
Home equity	49,624		10.8	%	51,692		10.0	%	57,458		7.7	%
Other	2,370		0.5	%	2,513		0.5	%	2,978		0.4	%
Total	$	457,873	100.0	%	$	518,524	100.0	%	$	748,116	100.0	%

As of December 31, 2013, 11.6% of the Company’s total loans were covered loans. During the fourth quarter, the total balance of covered loans decreased $60.7 million, or 11.7%, compared to the prior quarter. Of this decline, $46.1 million consisted of covered loans classified as likely to exit and resulted from the continued 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. The Company’s loss sharing agreements with the FDIC related to non-single-family loans expire during the third quarter 2014 and the agreements related to single-family loans expire in the third quarter 2019.

Covered OREO decreased $0.6 million, or 2.3%, during the fourth quarter to $27.1 million as of December 31, 2013 as additions of $3.2 million were offset by resolutions and valuation adjustments of $3.8 million. Additionally, the Company recognized a net loss on sales of covered OREO of $0.9 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 December 31, 2013 and for the trailing three quarters.

Table IX
	As of or for the Three Months Ended
	December 31,			September 30,			June 30,			March 31,
(Dollars in thousands)	2013			2013			2013			2013
Balance at beginning of period	$	23,259		$	32,961		$	45,496		$	45,190
Provision for loan and lease losses - covered	(5,857		)	5,293			(8,283		)	9,042
Total gross charge-offs	(3,850		)	(21,009		)	(4,681		)	(9,684		)
Total recoveries	5,349			6,014			429			948
Total net charge-offs	1,499			(14,995		)	(4,252		)	(8,736		)
Ending allowance for loan and lease losses - covered	$	18,901		$	23,259		$	32,961		$	45,496

As a percentage of total covered loans, the allowance for loan losses totaled 4.13% as of December 31, 2013 compared to 4.49% as of September 30, 2013.

The Company realized net recoveries on covered loans during the fourth quarter of $1.5 million compared to net charge-offs of $15.0 million for the third quarter. The net recoveries realized during the fourth quarter were driven primarily by the continued resolution strategies related to covered loans discussed above. During the fourth quarter, the Company recognized a negative provision expense of $5.9 million compared to a provision expense of $5.3 million for the linked quarter. The difference between provision expense and net charge-offs / recoveries 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 $1.5 million, consisting primarily of credit expenses, and net losses related to covered OREO of $0.9 million. The negative FDIC loss sharing income of $3.4 million for the quarter reflects the quarterly re-estimation of expected cash flows and the corresponding offset related to the net losses on sales of covered OREO and loss sharing and covered asset expenses.

As previously disclosed in the press release dated January 22, 2014, the Company recognized a $22.4 million pre-tax non-cash valuation adjustment on its FDIC indemnification asset during the quarter. The non-cash valuation adjustment resulted primarily from an improvement in future expected cash flows on covered loans, a meaningful decline in loss claims filed with the FDIC, higher reimbursements to the FDIC related to positive asset resolutions in recent periods and the significantly shorter remaining life of the indemnification asset in comparison to the weighted average life of the related covered loans.

14