FIRST FINANCIAL BANCORP. (PARENT COMPANY ONLY) FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheet

Balance Sheets

	December 31,
(Dollars in thousands)	2020		2019
Assets
Cash	$	172,902	$	55,869
Investment securities	1,388		1,116
Subordinated notes from subsidiaries	7,500		7,500
Investment in subsidiaries
Commercial bank	2,346,009		2,272,991
Non-banks	9,559		8,260
Total investment in subsidiaries	2,355,568		2,281,251
Premises and equipment	1,328		1,344
Other assets	68,812		77,572
Total assets	$	2,607,498	$	2,424,652
Liabilities
Subordinated notes	$	320,615	$	171,983
Dividends payable	674		849
Other liabilities	4,139		4,115
Total liabilities	325,428		176,947
Shareholders’ equity	2,282,070		2,247,705
Total liabilities and shareholders’ equity	$	2,607,498	$	2,424,652

Schedule of Condensed Income Statement

Statements of Income and Comprehensive Income

	Years Ended December 31,
(Dollars in thousands)	2020		2019		2018
Income
Interest income	$	27	$	30	$	23
Noninterest income	272		191		0
Dividends from subsidiaries	81,725		196,800		107,340
Total income	82,024		197,021		107,363
Expenses
Interest expense	14,172		9,552		8,798
Salaries and employee benefits	8,004		8,169		6,413
Professional services	1,160		1,040		5,130
Other	5,163		6,599		5,648
Total expenses	28,499		25,360		25,989
Income before income taxes and equity in undistributed net earnings of subsidiaries	53,525		171,661		81,374
Income tax expense (benefit)	(6,145)		(5,975)		(6,687)
Equity in undistributed earnings (loss) of subsidiaries	96,140		20,439		84,534
Net income	$	155,810	$	198,075	$	172,595
Comprehensive income	$	191,151	$	254,900	$	153,670

Schedule of Condensed Cash Flow Statement

Statements of Cash Flows

	Years Ended December 31,
(Dollars in thousands)	2020		2019		2018
Operating activities
Net income	$	155,810	$	198,075	$	172,595
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed (earnings) loss of subsidiaries	(96,140)		(20,439)		(84,534)
Depreciation and amortization	712		584		194
Stock-based compensation expense	7,678		7,969		6,219
Deferred income taxes	(158)		1,255		739
(Decrease) increase in dividends payable	(175)		384		(10,500)
(Decrease) increase in other liabilities	(22)		(244)		9,979
Decrease (increase) in other assets	8,635		(7,187)		16,346
Net cash provided by (used in) operating activities	76,340		180,397		111,038
Investing activities
Capital contributions to subsidiaries	0		0		(3,000)
Net cash acquired (paid) in business combinations	0		(53,660)		11,353
Proceeds from sales and maturities of investment securities	0		264		0
Purchases of investment securities	0		(500)		0
Net cash (used in) provided by investing activities	0		(53,896)		8,353
Financing activities
(Decrease) increase in short-term borrowings	0		0		(8,333)
Proceeds from long-term borrowings	150,000		0		0
Cash dividends paid on common stock	(89,691)		(89,097)		(79,655)
Purchases of common stock	(16,686)		(66,218)		0
Proceeds from exercise of stock options, net of shares purchased	72		90		284
Other	(3,002)		(2,285)		(2,528)
Net cash provided by (used in) financing activities	40,693		(157,510)		(90,232)
Net increase (decrease) in cash	117,033		(31,009)		29,159
Cash at beginning of year	55,869		86,878		57,719
Cash at end of year	$	172,902	$	55,869	$	86,878