EXHIBIT 99.1 Another step on the path to success

EXHIBIT 99.1

First Financial Bancorp Reports First Quarter 2010 Financial Results

§First quarter 2010 net income available to common shareholders of $9.7 million, or $0.17 per diluted common share

§Strong earnings contribution from recent acquisitions

§Successful completion of common equity offering, receiving over $91 million in net proceeds, and subsequent full redemption of $80 million of CPP preferred shares

§Capital ratios improved with tangible common equity to tangible assets of 9.73% and total risk-based capital of 19.19%

§Solid growth in strategic core deposit balances

§Completion of Irwin integration which included significant integration costs

Cincinnati, Ohio – April 29, 2010 – First Financial Bancorp (Nasdaq: FFBC) (“First Financial” or the “Company”) announced today financial and operational results for the first quarter of 2010.

First quarter 2010 net income was $11.6 million, net income available to common shareholders was $9.7 million and earnings per diluted common share were $0.17.  This compares with fourth quarter 2009 net income of $13.8 million, net income available to common shareholders of $12.8 million and earnings per diluted common share of $0.25 and first quarter 2009 net income of $5.7 million, net income available to common shareholders of $5.2 million and earnings per diluted common share of $0.14.

When compared to first quarter 2009, first quarter 2010 results were impacted by a number of acquisition-related items.  During the third quarter of 2009, through FDIC-assisted transactions, First Financial assumed the banking operations of Peoples Community Bank (“Peoples”), Irwin Union Bank and Trust Company and Irwin Union Bank, F.S.B. (collectively, “Irwin”).

As a result of the acquisitions, the Company’s business and operating markets expanded significantly.  To assist readers in understanding the financial and strategic impact of the acquisitions, the combined operations of First Financial’s legacy and acquired businesses will be discussed in three categories: “Legacy-Strategic”, “Acquired-Strategic” and “Acquired-Non-Strategic”.  Additional disclosures have been added in a separate section of the earnings release that segregate the effect acquisition-related items have on certain reported income statement and balance sheet amounts, “Section II – Supplemental Information on Covered Assets and Acquisition-Related Items”.  Definitions of the business categories and other financial items related to the acquisitions can be found below in “Guidance”.

Claude Davis, President and Chief Executive Officer, commented, “Overall, we are pleased with the operating results for the first quarter.  We continued to focus on integrating our recent acquisitions and preserving the client relationships from the transactions, and are satisfied with the progress we achieved in the first quarter.

“Our solid operating results, strong balance sheet and core deposit retention and growth reflect the quality of our franchise.  Capital and liquidity remain strong, allowing us to continue investing in our business.”

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SUMMARY OF FIRST QUARTER 2010 RESULTS

Guidance

In a manner consistent with the Company’s guidance provided in the fourth quarter 2009, earnings for the first quarter 2010 were approximately $0.33 per diluted common share when adjusted for items similar to the fourth quarter 2009, which include no adjustments to net interest income, a $2.3 million reduction in noninterest income and a $14 million reduction in noninterest expense.  These items include expenses associated with transition, support of non-strategic locations and other items not expected to recur, offset only by gains associated with sales of covered loans.  This estimate also includes the $0.02 per diluted common share impact of a higher share count relative to the fourth quarter 2009.

In future periods, First Financial will simply disclose the components of its earnings and any significant changes to the performance expectations of each component.  The Company believes this approach will provide a greater level of transparency and a better foundation from which readers may form their opinions of future performance.

In an effort to simplify and clarify the financial performance of First Financial, a number of significant drivers are noted separately throughout this release and will address the nature, timing and expected recurrence of each item. Available on the Company’s website at www.bankatfirst.com is a presentation on providing supplemental information regarding corrected assets and acquisition-related items.

Glossary of Terms

To assist readers in understanding the Company’s financial results and the effect of the acquisitions on reported amounts, the following terms are used throughout this release to refer to specific acquisition-related items.  The first three define the business components referred to above and the remaining items define specific covered loan terminology.

Legacy-strategic – Elements of the business that existed prior to the acquisitions and will continue to be supported.

Acquired-strategic – Elements of the business that the Company intends to retain and will continue to support and build.  Legacy-strategic and acquired-strategic are collectively referred to as “strategic.”

Acquired-non-strategic – Elements of the business that the Company intends to exit but will continue to support to obtain maximum economic value.  No growth or replacement is expected.

Rate-based valuation mark – Represents the carrying value discount required to establish the appropriate effective yield for covered loans.

Credit-based valuation mark – The valuation adjustment applied to covered loans related to credit loss assumptions.

Accelerated discount on prepayment and dispositions – The acceleration of the unrealized rate-based valuation mark plus any recognition of the credit-based valuation mark.

UPB – Unpaid principal balance

Carrying value – The unpaid principal balance of a covered loan less any rate- or credit-based valuation mark.

For information on First Financial’s comparable financial results, please refer to the discussions that follow detailing revenue and expense fluctuations.

DETAILS OF RESULTS

Unless otherwise noted, all amounts discussed in this earnings release are pre-tax except net income and per-share data which are presented after-tax. Percentage changes are not annualized unless specifically noted. In some instances, financial data may not add up due to rounding.

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SECTION I – RESULTS OF OPERATIONS

NET INTEREST INCOME

Net interest income on a fully tax-equivalent basis for the first quarter 2010 was $72.2 million as compared to $73.5 million for the fourth quarter 2009 and an increase of $40.9 million, or 130.8%, as compared to the comparable year-over-year period.  In addition to higher levels of interest earning assets and interest bearing liabilities resulting from the 2009 acquisitions, the year-over-year increase was also impacted by the significant increase in the net interest margin (see further discussion below).  The linked quarter decline resulted from the lower level of interest-earning assets.

Included in net interest income for both the first quarter 2010 and fourth quarter 2009 were the results of operations classified by the Company as acquired-non-strategic.  These amounts totaled $10.9 million and $16.8 million during those periods, respectively.  See additional discussion below in Section II.

NET INTEREST MARGIN

Net interest margin was 4.87% for the first quarter 2010 as compared to 4.63% for the fourth quarter 2009 and 3.61% for the first quarter 2009.  The increase of 126 basis points over the comparable year-over-year period was primarily attributable to the higher yield on covered loans, improved pricing in new loan originations, lower funding costs of deposits as a result of repricing acquired CDs and disciplined pricing strategies, and an overall decrease in earning assets.

NONINTEREST INCOME

The following table presents noninterest income for the three months ended March 31, 2010, December 31, 2009 and March 31, 2009 highlighting the estimated impact of covered loan activity and other transition items on the Company’s reported balance.

Table I
	For the Three Months Ended
	March 31,		December 31,
(Dollars in thousands)	2010		2009
Total noninterest income	$	19,368	$	24,149
Accelerated discount on loan prepayments and dispositions 1
Rate-based valuation mark - loan sales		1,631		2,298
Rate-based valuation mark - prepayments		2,706		3,083
Credit-based valuation mark - loan sales 2		295		621
Credit-based valuation mark - prepayments 2		1,465		2,213
Total accelerated discount		6,098		8,215
Other acquired-non-strategic income		80		1,839
Transition-related items		366		(388	)
Total	$	12,824	$	14,483
Noninterest income consistent with guidance 3	$	17,076		21,618

1 See Section II for additional information

2 Net of the corresponding valuation adjustment on the FDIC indemnification asset

3 Excludes the accelerated discount on loan sales and other acquired-non-strategic income

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During both the first quarter 2010 and fourth quarter 2009, covered loan activity positively impacted noninterest income.  This activity is discussed in more detail below in Section II.  Excluding the impact of all accelerated discounts and other transition items, estimated noninterest income earned in the first quarter 2010 was $12.8 million as compared to $14.5 million in the fourth quarter 2009 and $11.5 million in the first quarter 2009.  The decrease from the linked quarter was attributable to lower service charges on deposit accounts, loan service fees, gains on sales of mortgage loans and approximately $1.7 million of acquired-non-strategic income that should have been noted in the fourth quarter and is not expected to recur.  On the same basis, the increase in the comparable year-over-year quarter of $913,000 was driven primarily by higher service charges on deposit accounts resulting from an increase in transaction-based deposits, increased bankcard income and higher trust and wealth management fees, offset partially by lower gains on sales of mortgage loans.

NONINTEREST EXPENSE

The following table presents noninterest expense for the three months ended March 31, 2010, December 31, 2009 and March 31, 2009 including the estimated effect of acquired-non-strategic operations, acquisition-related costs and other transition items.

Table II
	For the Three Months Ended
	March 31,		December 31,
(Dollars in thousands)	2010		2009
Total noninterest expense	$	62,154	$	61,607
Proportionate share of losses in excess of credit-based
valuation mark 1,2		1,892		763
Acquired-non-strategic operating expenses 1		2,201		1,303
Acquisition-related costs 1		2,629		3,703
Transition-related items 1		6,263		6,625
Other items not expected to recur		1,019		1,599
FDIC indemnification support		605		387
Total	$	47,545	$	47,227
Noninterest expense consistent with guidance 3	$	48,150	$	47,614

1 See Section II for additional information

2 Represents 20% of total recognized, unanticipated losses on covered loans

3 Excludes all items noted above except FDIC indemnification support

First quarter 2010 noninterest expense continued to be affected by acquisition-related costs as well as other transition-related items and costs related to the Company’s acquired-non-strategic operations.  After adjusting for these items, estimated noninterest expense was essentially unchanged, totaling $47.5 million for the first quarter 2010.  Compared to the year-over-year quarter, estimated noninterest expense increased $18.6, primarily driven by higher salaries and employment benefits and occupancy costs resulting from the 2009 acquisitions.

INCOME TAXES

For the first quarter 2010, income tax expense was $6.3 million, resulting in an effective tax rate of 35.0%, compared with income tax expense of $7.1 million and an effective tax rate of 34.0% during the fourth quarter 2009 and $3.0 million and an effective tax rate of 34.6% during the comparable year-over-year period.

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CREDIT QUALITY – EXCLUDING COVERED ASSETS

The following table presents certain credit quality metrics for the trailing five quarter period as of March 31, 2010.

Table III
	As of or for the Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(Dollars in thousands)	2010			2009			2009			2009			2009
Total nonperforming loans	$	74,453		$	77,782		$	63,608		$	37,790		$	24,892
Total nonperforming assets	$	92,540		$	81,927		$	67,909		$	42,956		$	28,405
Nonperforming assets as a % of:
Period-end loans plus OREO		3.27	%		2.83	%		2.36	%		1.48	%		1.04	%
Total assets		1.41	%		1.23	%		0.94	%		1.14	%		0.75	%
Nonperforming loans as a % of total loans		2.64	%		2.69	%		2.21	%		1.31	%		0.91	%
Provision for loan & lease losses	$	11,378		$	14,812		$	26,655		$	10,358		$	4,259
Allowance for loan & lease losses	$	56,642		$	59,311		$	55,770		$	38,649		$	36,437
Allowance for loan & lease losses as a % of:
Period-end loans		2.01	%		2.05	%		1.94	%		1.34	%		1.33	%
Nonaccrual loans		84.7	%		82.8	%		92.2	%		102.8	%		147.6	%
Nonperforming loans		76.1	%		76.3	%		87.7	%		102.3	%		146.4	%
Total net charge-offs	$	14,047		$	11,271		$	9,534		$	8,146		$	3,695
Annualized net-charge-offs as a % of average
loans & leases		2.00	%		1.53	%		1.31	%		1.19	%		0.55	%

Net Charge-offs

First quarter 2010 net charge-offs were $14.0 million, or 2.00% of average loans and leases, compared with $11.3 million, or 1.53%, for the linked quarter and $3.7 million, or 0.55%, for the comparable year-over-year quarter.  While the Company experienced improvement in its construction portfolio metrics, continued stress in the commercial and commercial real estate portfolios resulted in the overall increase in net charge-offs.  Specifically, alleged fraudulent activity by one borrower to whom both commercial and commercial real estate credit was extended, totaling $8.8 million in the aggregate and disclosed in the fourth quarter 2009, was charged off during the first quarter 2010, representing 125 basis points of average loans and leases.  The majority of this amount was previously reserved for in the fourth quarter 2009.  Excluding this activity, net charge-offs during the quarter totaled $5.2 million, or 75 basis points of average loans and leases.

Nonperforming Assets

Nonperforming loans totaled $74.5 million and nonperforming assets totaled $92.5 million as of March 31, 2010 compared with $77.8 million and $81.9 million, respectively, for the linked quarter and $24.9 million and $28.4 million, respectively, for the comparable year-over-year quarter.  Nonperforming loans related to the commercial and commercial real estate portfolios increased $13.7 million in the aggregate for the quarter, offset by a reduction of $17.9 million in nonperforming construction loans.  One relationship with multiple commercial land development loans, totaling $13.6 million in the aggregate and all previously classified as nonperforming, was transferred to OREO as First Financial took possession of the underlying properties.

Delinquent Loans

Loans 30-to-89 days past due totaled $22.6 million, or 0.80% of period end loans, as of March 31, 2010.  This compares to $19.1 million, or 0.66%, as of December 31, 2009 and $20.4 million, or 0.75%, as of March 31, 2009.  Similar to activity in nonperforming loans, the increase was attributable to commercial and commercial real estate credits, offset by declines in construction, home equity and credit card loans.

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Provision for Loan & Lease Losses

First quarter 2010 provision expense was $11.4 million as compared to $14.8 million during the linked quarter and $4.3 million during the comparable year-over-year quarter.  As a percentage of net charge-offs, first quarter 2010 provision expense equaled 81.0% compared to 131.4% during the fourth quarter 2009 and 115.3% during the first quarter 2009.  Excluding the alleged fraudulent activity discussed above, first quarter 2010 provision expense equaled 217.0% of net charge-offs.

Allowance for Loan & Lease Losses

As of the end of the first quarter, the allowance for loan and lease losses decreased to $56.6 million from $59.3 million as of December 31, 2009 and was $36.4 million as of March 31, 2009.  As a percentage of period-end loans, the allowance for loan and lease losses totaled 2.01% as of March 31, 2010 as compared to 2.05% as of December 31, 2009 and 1.33% as of March 31, 2009.  The allowance for loan and lease losses as of March 31, 2010 preserves a coverage level relative to total loans and nonperforming loans that reflects management’s estimate of credit risk inherent in the Company’s portfolio.

Covered Assets / Loss Share Agreements

In connection with the FDIC-assisted transactions, the Company has loss sharing arrangements with the FDIC.  Under the terms of these agreements, the FDIC will reimburse the Company for losses with respect to certain loans (“covered loans”) and other real estate owned (“OREO”) (collectively, “covered assets”).

LOANS (EXCLUDING COVERED LOANS)

The following table presents the loan portfolio, not including covered loans, as of March 31, 2010, December 31, 2009 and March 31, 2009.

Table IV
	As of
	March 31, 2010					December 31, 2009					March 31, 2009
			Percent					Percent					Percent
(Dollars in thousands)	Balance		of Total			Balance		of Total			Balance		of Total
Commercial	$	763,084		27.1	%	$	798,622		27.6	%	$	850,111		31.1	%
Real estate - construction		216,289		7.7	%		253,223		8.8	%		251,115		9.2	%
Real estate - commercial		1,091,830		38.8	%		1,079,628		37.3	%		859,303		31.4	%
Real estate - residential		306,769		10.9	%		321,047		11.1	%		360,013		13.2	%
Installment		78,682		2.8	%		82,989		2.9	%		91,767		3.4	%
Home equity		330,973		11.8	%		328,940		11.4	%		298,000		10.9	%
Credit card		27,960		1.0	%		29,027		1.0	%		26,191		1.0	%
Lease financing		15		0.0	%		14		0.0	%		45		0.0	%
Total	$	2,815,602		100.0	%	$	2,893,490		100.0	%	$	2,736,545		100.0	%

Loans, excluding covered loans, totaled $2.82 billion at the end of the first quarter, a decrease of $77.9 million, or 2.7%, over the balance of $2.89 billion as of December 31, 2009 and an increase of $79.1 million, or 2.9%, over the amount of $2.74 billion as of March 31, 2009.  As compared to the linked quarter, the composition of the loan portfolio remained essentially the same with the majority of the decrease occurring in the commercial and construction portfolios as loan demand remained sluggish in the Company’s strategic operating markets.

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INVESTMENTS

The following table presents a summary of the total investment portfolio at March 31, 2010.

Table V
	As of March 31, 2010
	Book		Percent of			Book		Book		Market		Gain/
(Dollars in thousands)	Value		Total			Yield		Price		Value		(Loss)
UST notes & agencies	$	24,423		4.6	%		3.74		99.78		102.46	$	643
CMOs (agency)		52,557		9.8	%		4.61		100.46		104.68		2,115
CMOs (private)		58		0.0	%		0.94		100.00		100.07		0
MBSs (agency)		340,667		63.6	%		4.61		100.93		105.35		14,303
		417,705		78.0	%		4.56		100.80		105.09		17,061
Municipal		20,889		3.9	%		7.19		99.07		101.34		474
Other 1		96,857		18.1	%		3.44		101.75		102.38		596
		117,746		22.0	%		4.10		101.28		102.19		1,070
Total investment portfolio	$	535,451		100.0	%		4.46		100.91		104.44	$	18,131
			Net Unrealized Gain/(Loss)									$	18,131
			Aggregate Gains										18,451
			Aggregate Losses										(320	)
			Net Unrealized Gain/(Loss) % of Book Value										3.39	%

1 Other includes $87 million of regulatory stock

Investment securities totaled $535.5 million as of March 31, 2010 as compared to $579.1 million as of December 31, 2009 and $765.6 million as of March 31, 2009.  The decrease relative to the comparable periods was due to net securities paydowns and maturities, the majority of which were agency mortgage-backed securities.  Further impacting the year-over-year comparison was the sale of $149.4 million of securities, the proceeds of which were used to fund the purchase of $145.1 million of performing loans from Irwin in the second quarter 2009.   While loan demand remains muted, the Company intends on redeploying its excess liquidity to purchase investments as market conditions permit.  Future purchases will be made utilizing the same discipline and portfolio management philosophy applied in the past, including avoidance of credit risk and geographic concentration risk within mortgage-backed securities, while also balancing the Company’s overall asset / liability management objectives.  During the second quarter 2010, the Company began to redeploy its excess liquidity, purchasing $100 million of FNMA agency securities in accordance with these guidelines.

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DEPOSITS

The following table presents a roll-forward of deposit activity during the first quarter 2010, including activity related to deposits acquired through the FDIC-assisted transactions.

Table VI
	Deposit Activity - First Quarter 2010
	Balance as of					Acquired-			Balance as of
	December 31,		Strategic			Non-Strategic			March 31,
(Dollars in thousands)	2009		Portfolio			Portfolio			2010
Transaction and savings accounts	$	3,121,140	$	63,414		$	(96,551	)	$	3,088,003
Time deposits		1,864,215		(17,207	)		(38,882	)		1,808,126
Brokered deposits		365,285		10,213			(47,941	)		327,557
Total deposits	$	5,350,640	$	56,420		$	(183,374	)	$	5,223,686

Overall, deposit retention from the acquisitions continues to exceed management’s expectations.

BORROWED FUNDS

The following table presents a roll-forward of activity related to short- and long-term borrowings during the first quarter 2010.

Table VII
	Borrowed Funds Activity - First Quarter 2010
	Balance as of							Balance as of
	December 31,							March 31,
(Dollars in thousands)	2009		Additions		Maturities			2010
Short-term borrowings:
Federal funds purchased and securities
sold under agreements to repurchase	$	37,430	$	1,013	$	-		$	38,443
Long-term borrowings:
Federal Home Loan Bank advances 1		339,716		-		(10,312	)		329,404
Securities sold under agreements to
repurchase		65,000		-		-			65,000
Other		20,620		-		-			20,620
Total long-term borrowings		425,336		-		(10,312	)		415,024
Total borrowings	$	462,766	$	1,013	$	(10,312	)	$	453,467

1 Includes market value adjustment

Borrowed funds as of March 31, 2010 totaled $453.5 million, representing a decrease of $9.3 million, or 2.0%, from $462.8 million as of December 31, 2009.  This decrease was primarily due to maturities of long-term Federal Home Loan Bank advances.  As compared to the similar year-over-year period, borrowed funds declined $66.5 million, or 12.8%, from $520.0 million as of March 31, 2009.   The year-over-year comparison was impacted by long-term borrowings assumed as a result of the FDIC-assisted transactions that were offset by significant maturities of primarily short- and long-term Federal Home Loan Bank advances and other short-term borrowings.  Other than the Federal Home Loan Bank long-term debt acquired in the Peoples and Irwin transactions in the third quarter of 2009, First Financial has not increased long-term borrowings since the third quarter of 2008.

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As of March 31, 2010, in addition to liquidity on hand, the Company had available and unused overnight wholesale funding of approximately $2.3 billion to fund any significant deposit runoff that may occur as a result of exiting acquired-non-strategic markets.

CAPITAL MANAGEMENT

The following table presents First Financial’s preliminary regulatory and other capital ratios as of March 31, 2010, December 31, 2009 and March 31, 2009.

Table VIII
	As of
	March 31,			December 31,			March 31,			"Well-Capitalized"
	2010			2009			2009			Minimum
Leverage Ratio		10.10	%		9.57	%		9.51	%		5.00	%
Tier 1 Capital Ratio		17.93	%		16.74	%		12.16	%		6.00	%
Total Risk-Based Capital Ratio		19.19	%		17.99	%		13.39	%		10.00	%
Ending tangible shareholders' equity
to ending tangible assets		9.73	%		9.30	%		8.60	%		N/A
Ending tangible common shareholders'
equity to ending tangible assets		9.73	%		8.10	%		6.54	%		N/A

During February 2010, First Financial successfully completed a follow-on equity offering issuing 6,372,117 common shares at a price of $15.14 per share subsequent to the underwriters’ exercising their over-allotment option in full.  This amount per share represented no discount to the market value on the day of pricing.  After deducting underwriting and other offering costs, the Company received net proceeds of $91.2 million.  Following the offering, First Financial used most of the net proceeds to redeem all of the $80 million in senior preferred shares issued to the U.S. Treasury in December 2008 under its Capital Purchase Program (“CPP”), a component of the Troubled Asset Relief Program (“TARP”).  As shown in the table above, subsequent to the equity offering and redemption of the preferred shares, the Company experienced an increase in its already strong regulatory and capital ratios, continuing to remain among industry leaders.

The computation of earnings per diluted common share for the first quarter 2010 includes the impact of a one-time deemed dividend of $765,000, or $0.01 per common share, representing the unaccreted CPP preferred stock discount remaining as of the redemption date.  When combined with the cash dividend of $1.1 million paid during the first quarter 2010, the total effect on net income available to common shareholders’ was $1.9 million, or $0.03 per diluted common share, compared to dividends paid during the fourth quarter 2009 of $1.0 million, or $0.02 per diluted common share and the first quarter 2009 of $578,000, or $0.02 per diluted common share.  The per share calculations reflect the increase in average diluted common shares outstanding as a result of the offering.

A warrant issued in connection with the preferred shares continues to be held by the U.S. Treasury.  The warrant enables the holder to purchase up to 465,117 shares of the Company’s common stock at an exercise price of $12.90 per share.  The Company has previously announced its intent not to repurchase the warrant, which expires on December 23, 2018.  During April 2010, the U.S. Treasury announced its intent to sell the warrant in a public offering to be executed using a modified Dutch auction methodology.  If the warrant sale is consummated in full, the U.S. Treasury would no longer hold any securities issued by First Financial.

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ACQUISITIONS

Subsequent Events

The Irwin and Peoples acquisitions were considered business combinations and accounted for under FASB Codification Topic 805: Business Combinations (“Topic 805”), FASB Codification Topic 820: Fair Value Measurements and FASB Codification Topic 310-30: Loans and Debt Securities Acquired with Deteriorated Credit Quality. All acquired assets and liabilities were recorded at their estimated fair values as of the date of acquisition and identifiable intangible assets were recorded at their estimated fair value.

Estimated fair values are considered preliminary and, in accordance with Topic 805, are subject to change up to one year after the acquisition date.  This allows for adjustments to the initial purchase entries if additional information relative to closing date fair values becomes available.  Adjustments to acquisition date estimated fair values are recorded in the period in which the acquisition occurred and, as a result, previously reported results are subject to change.

Certain reclassifications of prior periods’ amounts may also be made to conform to the current period’s presentation and would have no effect on previously reported net income amounts.

Integration

During the first quarter 2010, the Company successfully completed the technology conversion and operational integration of Irwin.  In total, 27 Irwin banking centers were acquired in the FDIC transaction including ten locations in the western part of the United States that are considered to be acquired-non-strategic.  In late December 2009, the Company closed the St. Louis, MO location and during the first quarter 2010 seven additional branches were closed.  In the aggregate, the two remaining western locations had $143.5 million in unpaid principal balances on loans and $123.0 million in deposits as of March 31, 2010.

During the fourth quarter 2009, First Financial successfully completed the technology conversion and operational integration of Peoples.  The Company did not acquire the 19 banking properties associated with Peoples and their contents on the acquisition date, but held a purchase option from the FDIC for each location.  During the first quarter 2010, First Financial exercised the option to purchase 17 locations, including all associated furniture and equipment, at their fair market values; however, a settlement date with the FDIC for the exercise of the purchase option has not yet been determined.

While the technology and operational integration of Irwin and Peoples is complete, there may be additional integration-related costs incurred throughout the year.

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SECTION II – SUPPLEMENTAL INFORMATION ON COVERED ASSETS AND ACQUISITION-RELATED ITEMS

Due to the FDIC-assisted transactions and other acquisitions occurring during 2009, the size of First Financial’s business expanded significantly. To assist in analyzing the effect of these transactions on the financial results, supplemental information that segregates the estimated impact on pre-tax earnings of certain acquisition-related items and provides additional detail on the covered loan portfolio follows.

SUMMARY OF SIGNIFICANT ACQUISITION-RELATED ITEMS

The following table illustrates the estimated effect certain acquisition-related items had on the results of operations for the three months ended March 31, 2010 and December 31, 2009.

Table IX
	For the Three Months Ended
	March 31,		December 31,
(Dollars in thousands)	2010		2009
Income effect:
Accelerated discount on loan prepayments and dispositions: 1
Rate-based valuation mark - loan sales	$	1,631	$	2,298
Rate-based valuation mark - prepayments		2,706		3,083
Credit-based valuation mark - loan sales 2		295		621
Credit-based valuation mark - prepayments 2		1,465		2,213
Acquired-non-strategic net interest income		10,854		16,832
Service charges on deposit accounts related to
acquired-non-strategic operations		230		258
Other income related to acquired-non-strategic operations		150		1,581
Income related to the accelerated discount on loan prepayments
and dispositions and acquired-non-strategic operations		17,032		26,886
Expense effect:
Acquired-non-strategic operating expenses: 3
Salaries and employee benefits		122		27
Occupancy		1,415		560
Other		664		716
Total acquired-non-strategic operating expenses		2,201		1,303
FDIC indemnification support		605		387
Acquisition-related costs:
Integration-related costs		999		2,580
Professional services fees		1,457		1,123
Other		172		-
Total acquisition-related costs		2,629		3,703
Transition-related items:
Salaries and benefits		4,776		5,474
Occupancy		910		1,307
Other		577		(156	)
Total transition-related items		6,263		6,625
Proportionate share of losses in excess of credit-based
valuation mark 4		1,892		763
Total expense effect		13,590		12,781
Total estimated effect on pre-tax earnings	$	3,442	$	14,105

1  Included in noninterest income

2  Net of the corresponding valuation adjustment on the FDIC indemnification asset

3  Included in noninterest expense

4  Represents 20% of total recognized, unanticipated losses on covered loans included in other noninterest expense

-11-

When unpaid covered loan principal balances decrease faster than expected, which could occur either through a loan sale, any prepayment by the borrower, either in full or in part, or is charged off, etc., the remaining or pro rata carrying value of the rate-based valuation mark is recognized as noninterest income.  The carrying value of the credit-based valuation mark also impacts noninterest income as well as noninterest expense.  When covered loan balances paydown early, again through either a loan sale or prepayments by the borrower, and credit experience is better than originally estimated, the remaining carrying value is recognized as noninterest income, net of a corresponding valuation adjustment on the FDIC indemnification asset.  However, when losses are incurred on covered loans that exceed the initial estimate, the Company will recognize noninterest expense representing its proportional share of the unanticipated losses.

During the first quarter 2010, First Financial sold $21.2 million of acquired-non-strategic western market covered loans at 100% of their UPB, resulting in the acceleration of income of which $1.6 million pertained to the rate-based valuation mark and $295,000 pertained to the credit-based valuation mark.  During the fourth quarter 2009, the Company sold $43.0 million of acquired-non-strategic western market covered loans at 100% of their UPB, resulting in $2.3 million of income related to the rate-based valuation mark and $621,000 related to the credit-based valuation mark.
 

COVERED ASSETS & LOSS SHARE AGREEMENTS

As of March 31, 2010, 39.4% of the Company’s total loans were covered loans.  As required under the loss-share arrangements, First Financial has filed monthly certifications with the FDIC on single-family residential loans and quarterly certifications on all other loans.  To date, all certifications have been filed in a timely manner and without significant issues.

COVERED LOAN PORTFOLIO

The following table presents estimated activity in the covered loan portfolio by loan type during the first quarter 2010.

Table X
	Covered Loan Activity - First Quarter 2010
			Reduction in Balance Due to:
									Charge-Offs
	December 31,								in Excess of		March 31,
(Dollars in thousands)	2009		Loan Sales		Prepayments 1		Contractual 2		Valuation Mark 3		2010
Commercial	$	509,727	$	7,286	$	25,394	$	12,850	$	3,421	$	460,776
Real estate - construction		86,810		-		1,287		4,100		2,304		79,119
Real estate - commercial		1,012,173		13,889		18,279		326		795		978,884
Real estate - residential		291,210		-		5,568		1,197		-		284,445
Installment		9,979		-		385		1,729		400		7,465
Other covered loans		19,650		-		31		2,149		-		17,470
Total covered loans	$	1,929,549	$	21,174	$	50,945	$	22,351	$	6,920	$	1,828,158

1 Includes complete paid in full balances only

2 Includes partial paydowns and accretion of the rate-based valuation mark

3 Indemnified at 80% from the FDIC

During the first quarter 2010, the total balance of covered loans decreased $101.4 million, or 5.3%, as compared to the previous quarter.  Of this decrease, $21.2 million, or 1.1%, was attributable to sales of acquired-non-strategic loans, $50.9 million, or 2.6%, resulted from prepayments, and $22.4 million, or 1.2%, related to repayments in accordance with contractual obligations.  The remaining 36 bps of the decrease related to credit losses in excess of the credit-based valuation mark.  Credit experience to date related to covered loans is nominally better than the Company’s expectations.

-12-

Teleconference /  Webcast Information

First Financial’s senior management will host a conference call to discuss the Company’s financial and operating results on Friday, April 30, 2010 at 9:00 a.m.  Members of the public who would like to listen to the conference call should dial (800) 860-2442 (U.S. toll free), (866) 605-3852 (Canada toll free) or +1 (412) 317-0088 (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/investor.  A replay of the conference call will be available beginning one hour after the completion of the live call through May 15, 2010 at (877) 344-7529 (U.S. toll free) and +1 (412) 317-0088 (International); conference number 440026.  The webcast will be archived on the Investor Relations section of the Company’s website through April 30, 2011.

Press Release and Additional Information on Website

This press release as well as a presentation providing supplemental information is available to the public through the Investor Relations section of First Financial’s website at www.bankatfirst.com/investor.

Forward-Looking Statement

This news release should be read in conjunction with the consolidated financial statements, notes and tables in First Financial Bancorp’s most recent Annual Report on Form 10-K for the year ended December 31, 2009. Management’s analysis contains forward-looking statements that are provided to assist in the understanding of anticipated future financial performance. However, such performance involves risk 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; 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, such as the U.S. Treasury’s Troubled Asset Relief Program and the Federal Deposit Insurance Corporation’s (“FDIC”) Temporary Liquidity Guarantee Program, 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 participation in the Temporary Liquidity Guarantee Program or from increased payments from FDIC insurance funds as a result of depositary institution failures; the effects of and changes in policies and laws of regulatory agencies, inflation and interest rates; technology changes; mergers and acquisitions, including costs or difficulties related to the integration of acquired companies, including our ability to successfully integrate the branches of Peoples Community Bank, Irwin Union Bank and Trust Company and Irwin Union Bank, F.S.B., which were acquired out of FDIC receivership, and 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 securities and debt 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 (the “Federal Reserve”) and the U.S. government and other governmental initiatives affecting the financial services industry; our ability to manage loan delinquency and charge-off rates and changes in estimation of the adequacy of the allowance for loan losses; the costs and effects of litigation and of unexpected or adverse outcomes in such litigation; and our success at managing the risks involved in the foregoing. For further discussion of certain factors that may cause such forward-looking statements to differ materially from actual results, refer to the 2009 Form 10-K and other public documents filed with the Securities and Exchange Commission (“SEC”). These documents are available at no cost within the investor relations section of First Financial’s website at www.bankatfirst.com/investor and on the SEC's website at www.sec.gov.  Additional information will also be set forth in our quarterly report on Form 10-Q for the quarter ended March 31, 2010, which will be filed with the SEC no later than May 10, 2010.

-13-

About First Financial Bancorp

First Financial Bancorp is a Cincinnati, Ohio based bank holding company.  As of March 31, 2010, the Company had $6.6 billion in assets, $4.6 billion in loans, $5.2 billion in deposits and $693 million in shareholders’ equity.  The Company’s subsidiary, First Financial Bank, N.A., founded in 1863, provides banking and financial services products through its three lines of business: Commercial, Retail and Wealth Resource Group.  The Commercial and Retail units provide traditional banking services to business and consumer clients and the Wealth Resource Group provides financial planning, investment management, trust & estate, brokerage, insurance and retirement plan services and had approximately $2.3 billion in assets under management as of March 31, 2010.  The Company’s strategic operating markets are located in Ohio, Indiana, Kentucky and Michigan where it operates 115 banking centers across 75 communities.  Additional information about the Company, including its products, services and banking locations is available at www.bankatfirst.com.

Contact Information
Investors/Analysts	Media
Kenneth Lovik	Cheryl Lipp
Vice President, Investor Relations and	First Vice President, Communications Director
Corporate Development	(513) 979-5797
(513) 979-5837	cheryl.lipp@bankatfirst.com
kenneth.lovik@bankatfirst.com

-14-

FIRST FINANCIAL BANCORP.

CONSOLIDATED FINANCIAL HIGHLIGHTS

(Dollars in thousands, except per share)

(Unaudited)

	Three months ended,
	Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,
	2010			2009			2009			2009			2009
RESULTS OF OPERATIONS
Net interest income	$	72,020		$	73,182		$	40,664		$	31,209		$	30,928
Net income	$	11,598		$	13,795		$	225,566		$	1,450		$	5,735
Net income available to common shareholders	$	9,733		$	12,795		$	224,566		$	450		$	5,157
Net earnings per common share - basic	$	0.18		$	0.25		$	4.40		$	0.01		$	0.14
Net earnings per common share - diluted	$	0.17		$	0.25		$	4.36		$	0.01		$	0.14
Dividends declared per common share	$	0.10		$	0.10		$	0.10		$	0.10		$	0.10
KEY FINANCIAL RATIOS
Return on average assets		0.71	%		0.80	%		19.85	%		0.15	%		0.62	%
Return on average shareholders' equity		6.67	%		8.05	%		186.11	%		1.53	%		6.63	%
Return on average common shareholders' equity		6.01	%		8.44	%		221.29	%		0.60	%		7.67	%
Return on average tangible common shareholders' equity		6.60	%		9.37	%		260.04	%		0.66	%		8.57	%
Net interest margin		4.87	%		4.63	%		3.90	%		3.60	%		3.61	%
Net interest margin (fully tax equivalent) (1)		4.89	%		4.65	%		3.93	%		3.64	%		3.65	%
Ending equity as a percent of ending assets		10.54	%		10.11	%		9.24	%		11.81	%		9.29	%
Ending common equity as a percent of ending assets		10.54	%		8.92	%		8.16	%		9.74	%		7.24	%
Ending tangible common equity as a percent of:
Ending tangible assets		9.73	%		8.10	%		7.40	%		9.06	%		6.54	%
Risk-weighted assets		16.95	%		13.73	%		13.26	%		11.05	%		8.38	%
Average equity as a percent of average assets		10.56	%		9.90	%		10.66	%		10.04	%		9.29	%
Average common equity as a percent of average assets		9.85	%		8.76	%		8.93	%		7.98	%		7.22	%
Average tangible common equity as a percent of
average tangible assets		9.05	%		7.96	%		7.70	%		7.27	%		6.51	%
Book value per common share	$	11.98		$	11.59		$	11.52		$	7.16		$	7.36
Tangible book value per common share	$	10.96		$	10.43		$	10.35		$	6.61		$	6.59
Tier 1 Ratio (2)		17.93	%		16.74	%		16.06	%		14.77	%		12.16	%
Total Capital Ratio (2)		19.19	%		17.99	%		17.32	%		16.02	%		13.39	%
Leverage Ratio (2)		10.10	%		9.57	%		14.41	%		12.02	%		9.51	%
AVERAGE BALANCE SHEET ITEMS
Loans (3)	$	2,849,562		$	2,929,850		$	2,886,729		$	2,744,063		$	2,717,097
Covered loans and FDIC indemnification asset		2,191,849			2,278,431			539,330			0			0
Investment securities		558,595			608,952			575,697			731,119			758,257
Interest-bearing deposits with other banks		394,741			447,999			136,210			8,614			7,291
Total earning assets	$	5,994,747		$	6,265,232		$	4,137,966		$	3,483,796		$	3,482,645
Total assets	$	6,671,071		$	6,863,923		$	4,508,809		$	3,784,458		$	3,777,510
Noninterest-bearing deposits	$	774,393		$	840,314		$	554,471		$	425,330		$	416,206
Interest-bearing deposits		4,544,471			4,710,167			3,054,226			2,408,054			2,405,700
Total deposits	$	5,318,864		$	5,550,481		$	3,608,697		$	2,833,384		$	2,821,906
Borrowings	$	458,876		$	471,916		$	377,406		$	542,578		$	566,808
Shareholders' equity	$	704,776		$	679,840		$	480,839		$	379,944		$	350,857
CREDIT QUALITY RATIOS (excluding covered assets)
Allowance to ending loans		2.01	%		2.05	%		1.94	%		1.34	%		1.33	%
Allowance to nonaccrual loans		84.71	%		82.77	%		92.17	%		102.81	%		147.57	%
Allowance to nonperforming loans		76.08	%		76.25	%		87.68	%		102.27	%		146.38	%
Nonperforming loans to total loans		2.64	%		2.69	%		2.21	%		1.31	%		0.91	%
Nonperforming assets to ending loans, plus OREO		3.27	%		2.83	%		2.36	%		1.48	%		1.04	%
Nonperforming assets to total assets		1.41	%		1.23	%		0.94	%		1.14	%		0.75	%
Net charge-offs to average loans (annualized)		2.00	%		1.53	%		1.31	%		1.19	%		0.55	%

(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) March 31, 2010 regulatory capital ratios are preliminary.

(3) Includes loans held for sale.

-15-

FIRST FINANCIAL BANCORP.

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME

(Dollars in thousands)

(Unaudited)

	2010			2009
	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter			Full Year			% Change Linked Qtr.			% Change Comparable Qtr.
Interest income
Loans, including fees	$	79,338		$	81,471		$	46,811		$	33,978		$	33,657		$	195,917			(2.6	%)		135.7	%
Investment securities
Taxable		5,396			6,422			6,241			8,023			8,690			29,376			(16.0	%)		(37.9	%)
Tax-exempt		235			320			352			386			434			1,492			(26.6	%)		(45.9	%)
Total investment securities interest		5,631			6,742			6,593			8,409			9,124			30,868			(16.5	%)		(38.3	%)
Other earning assets		5,590			5,132			1,311			0			0			6,443			8.9	%		N/M
Total interest income		90,559			93,345			54,715			42,387			42,781			233,228			(3.0	%)		111.7	%
Interest expense
Deposits		15,648			17,207			11,490			9,080			9,803			47,580			(9.1	%)		59.6	%
Short-term borrowings		19			23			261			527			507			1,318			(17.4	%)		(96.3	%)
Long-term borrowings		2,557			2,611			1,977			1,251			1,306			7,145			(2.1	%)		95.8	%
Subordinated debentures and capital securities		315			322			323			320			237			1,202			(2.2	%)		32.9	%
Total interest expense		18,539			20,163			14,051			11,178			11,853			57,245			(8.1	%)		56.4	%
Net interest income		72,020			73,182			40,664			31,209			30,928			175,983			(1.6	%)		132.9	%
Provision for loan and lease losses		11,378			14,812			26,655			10,358			4,259			56,084			(23.2	%)		167.2	%
Net interest income after provision for loan and lease losses		60,642			58,370			14,009			20,851			26,669			119,899			3.9	%		127.4	%
Noninterest income
Service charges on deposit accounts		5,611			5,886			5,408			4,289			4,079			19,662			(4.7	%)		37.6	%
Trust and wealth management fees		3,545			3,584			3,339			3,253			3,289			13,465			(1.1	%)		7.8	%
Bankcard income		1,968			1,869			1,379			1,422			1,291			5,961			5.3	%		52.4	%
Net gains from sales of loans		169			341			63			408			384			1,196			(50.4	%)		(56.0	%)
Gains on sales of investment securities		0			0			0			3,349			0			3,349			N/M			N/M
Gain on acquisition		0			0			379,086			0			0			379,086			N/M			N/M
(Loss) income on preferred securities		(30	)		(138	)		154			112			11			139			(78.3	%)		(372.7	%)
Other		8,105			12,607			1,599			1,264			2,979			18,449			(35.7	%)		172.1	%
Total noninterest income		19,368			24,149			391,028			14,097			12,033			441,307			(19.8	%)		61.0	%
Noninterest expenses
Salaries and employee benefits		30,241			30,141			22,051			16,223			17,653			86,068			0.3	%		71.3	%
Net occupancy		8,122			7,290			3,442			2,653			2,817			16,202			11.4	%		188.3	%
Furniture and equipment		2,273			2,527			1,874			1,851			1,802			8,054			(10.1	%)		26.1	%
Data processing		1,232			890			973			794			818			3,475			38.4	%		50.6	%
Marketing		1,074			1,283			871			700			640			3,494			(16.3	%)		67.8	%
Communication		1,208			1,169			737			669			671			3,246			3.3	%		80.0	%
Professional services		1,743			2,605			1,220			1,254			953			6,032			(33.1	%)		82.9	%
State intangible tax		1,331			564			628			648			668			2,508			136.0	%		99.3	%
FDIC expense		2,010			1,529			1,612			3,424			282			6,847			31.5	%		612.8	%
Other		12,920			13,609			12,893			4,580			3,630			34,712			(5.1	%)		255.9	%
Total noninterest expenses		62,154			61,607			46,301			32,796			29,934			170,638			0.9	%		107.6	%
Income before income taxes		17,856			20,912			358,736			2,152			8,768			390,568			(14.6	%)		103.6	%
Income tax expense		6,258			7,117			133,170			702			3,033			144,022			(12.1	%)		106.3	%
Net income		11,598			13,795			225,566			1,450			5,735			246,546			(15.9	%)		102.2	%
Dividends on preferred stock		1,865			1,000			1,000			1,000			578			3,578			N/M			N/M
Net income available to common shareholders	$	9,733		$	12,795		$	224,566		$	450		$	5,157		$	242,968			(23.9	%)		88.7	%
ADDITIONAL DATA
Net earnings per common share - basic	$	0.18		$	0.25		$	4.40		$	0.01		$	0.14		$	5.40
Net earnings per common share - diluted	$	0.17		$	0.25		$	4.36		$	0.01		$	0.14		$	5.33
Dividends declared per common share	$	0.10		$	0.10		$	0.10		$	0.10		$	0.10		$	0.40
Return on average assets		0.71	%		0.80	%		19.85	%		0.15	%		0.62	%		5.20	%
Return on average shareholders' equity		6.67	%		8.05	%		186.11	%		1.53	%		6.63	%		52.04	%
Interest income	$	90,559		$	93,345		$	54,715		$	42,387		$	42,781		$	233,228			(3.0	%)		111.7	%
Tax equivalent adjustment		212			295			300			307			363			1,265			(28.1	%)		(41.6	%)
Interest income - tax equivalent		90,771			93,640			55,015			42,694			43,144			234,493			(3.1	%)		110.4	%
Interest expense		18,539			20,163			14,051			11,178			11,853			57,245			(8.1	%)		56.4	%
Net interest income - tax equivalent	$	72,232		$	73,477		$	40,964		$	31,516		$	31,291		$	177,248			(1.7	%)		130.8	%
Net interest margin		4.87	%		4.63	%		3.90	%		3.60	%		3.61	%		4.05	%
Net interest margin (fully tax equivalent) (1)		4.89	%		4.65	%		3.93	%		3.64	%		3.65	%		4.08	%
Full-time equivalent employees		1,466			1,390			1,150			1,048			1,063

(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.

-16-

FIRST FINANCIAL BANCORP.

CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)

(Unaudited)

	Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,			% Change			% Change Comparable
	2010			2009			2009			2009			2009			Linked Qtr.			Qtr.
ASSETS
Cash and due from banks	$	308,330		$	344,150		$	243,924		$	74,347		$	72,508			(10.4	%)		325.2	%
Interest-bearing deposits with other banks		416,619			262,017			728,853			6,591			7,055			59.0	%		N/M
Investment securities trading		0			200			338			184			72			(100.0	%)		(100.0	%)
Investment securities available-for-sale		430,519			471,002			523,355			528,179			732,868			(8.6	%)		(41.3	%)
Investment securities held-to-maturity		17,903			18,115			17,928			4,536			4,701			(1.2	%)		280.8	%
Other investments		87,029			89,830			87,693			27,976			27,976			(3.1	%)		211.1	%
Loans held for sale		3,243			8,052			2,729			6,193			6,342			(59.7	%)		(48.9	%)
Loans
Commercial		763,084			798,622			818,608			876,730			850,111			(4.4	%)		(10.2	%)
Real estate - construction		216,289			253,223			245,535			266,452			251,115			(14.6	%)		(13.9	%)
Real estate - commercial		1,091,830			1,079,628			1,037,121			988,901			859,303			1.1	%		27.1	%
Real estate - residential		306,769			321,047			331,678			337,704			360,013			(4.4	%)		(14.8	%)
Installment		78,682			82,989			86,940			88,370			91,767			(5.2	%)		(14.3	%)
Home equity		330,973			328,940			324,340			307,749			298,000			0.6	%		11.1	%
Credit card		27,960			29,027			27,713			27,023			26,191			(3.7	%)		6.8	%
Lease financing		15			14			19			25			45			7.1	%		(66.7	%)
Total loans, excluding covered loans		2,815,602			2,893,490			2,871,954			2,892,954			2,736,545			(2.7	%)		2.9	%
Covered loans		1,828,158			1,929,549			2,041,691			0			0			(5.3	%)		N/M
Total loans		4,643,760			4,823,039			4,913,645			2,892,954			2,736,545			(3.7	%)		69.7	%
Less
Allowance for loan and lease losses		56,642			59,311			55,770			38,649			36,437			(4.5	%)		55.5	%
Net loans		4,587,118			4,763,728			4,857,875			2,854,305			2,700,108			(3.7	%)		69.9	%
Premises and equipment		115,836			107,351			106,401			86,216			85,385			7.9	%		35.7	%
Goodwill		51,908			51,908			51,908			28,261			28,261			0.0	%		83.7	%
Other intangibles		7,058			7,461			8,094			465			500			(5.4	%)		1311.6	%
FDIC indemnification asset		301,961			316,040			316,389			0			0			(4.5	%)		N/M
Accrued interest and other assets		244,902			241,269			312,219			166,100			143,420			1.5	%		70.8	%
Total Assets	$	6,572,426		$	6,681,123		$	7,257,706		$	3,783,353		$	3,809,196			(1.6	%)		72.5	%
LIABILITIES
Deposits
Interest-bearing	$	1,042,790		$	1,060,383		$	1,105,450		$	599,365		$	622,263			(1.7	%)		67.6	%
Savings		1,303,737			1,231,081			1,135,308			657,300			705,229			5.9	%		84.9	%
Time		2,135,683			2,229,500			2,739,874			1,111,399			1,137,398			(4.2	%)		87.8	%
Total interest-bearing deposits		4,482,210			4,520,964			4,980,632			2,368,064			2,464,890			(0.9	%)		81.8	%
Noninterest-bearing		741,476			829,676			855,352			423,781			427,068			(10.6	%)		73.6	%
Total deposits		5,223,686			5,350,640			5,835,984			2,791,845			2,891,958			(2.4	%)		80.6	%
Short-term borrowings
Federal funds purchased and securities sold
under agreements to repurchase		38,443			37,430			35,763			206,777			162,549			2.7	%		(76.3	%)
Federal Home Loan Bank		0			0			65,000			125,000			160,000			N/M			(100.0	%)
Other		0			0			0			25,000			40,000			N/M			(100.0	%)
Total short-term borrowings		38,443			37,430			100,763			356,777			362,549			2.7	%		(89.4	%)
Long-term debt		394,404			404,716			410,356			135,908			136,832			(2.5	%)		188.2	%
Other long-term debt		20,620			20,620			20,620			20,620			20,620			0.0	%		0.0	%
Accrued interest and other liabilities		202,305			192,550			219,357			31,567			43,477			5.1	%		365.3	%
Total Liabilities		5,879,458			6,005,956			6,587,080			3,336,717			3,455,436			(2.1	%)		70.2	%
SHAREHOLDERS' EQUITY
Preferred stock		0			79,195			78,271			78,173			78,075			(100.0	%)		(100.0	%)
Common stock		581,747			490,532			490,854			490,292			394,887			18.6	%		47.3	%
Retained earnings		305,239			301,328			293,610			74,285			77,695			1.3	%		292.9	%
Accumulated other comprehensive loss		(9,091	)		(10,487	)		(6,659	)		(10,700	)		(8,564	)		(13.3	%)		6.2	%
Treasury stock, at cost		(184,927	)		(185,401	)		(185,450	)		(185,414	)		(188,333	)		(0.3	%)		(1.8	%)
Total Shareholders' Equity		692,968			675,167			670,626			446,636			353,760			2.6	%		95.9	%
Total Liabilities and Shareholders' Equity	$	6,572,426		$	6,681,123		$	7,257,706		$	3,783,353		$	3,809,196			(1.6	%)		72.5	%

N/M = Not meaningful.

-17-

FIRST FINANCIAL BANCORP.

AVERAGE CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)

(Unaudited)

							Quarterly Averages
	Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,
	2010			2009			2009			2009			2009
ASSETS
Cash and due from banks	$	336,333		$	274,601		$	107,216		$	72,402		$	78,359
Interest-bearing deposits with other banks		394,741			447,999			136,210			8,614			7,291
Investment securities		558,595			608,952			575,697			731,119			758,257
Loans held for sale		2,292			2,936			2,629			5,942			5,085
Loans
Commercial		785,579			839,456			855,996			843,183			825,399
Real estate - construction		231,853			256,915			261,601			257,487			242,750
Real estate - commercial		1,079,577			1,048,650			1,002,073			869,985			858,403
Real estate - residential		309,104			333,858			333,981			348,834			372,853
Installment		79,437			87,825			87,506			89,857			94,881
Home equity		333,275			332,169			315,629			302,159			291,038
Credit card		28,430			28,025			27,292			26,577			26,641
Lease financing		15			16			22			39			47
Total loans, excluding covered loans		2,847,270			2,926,914			2,884,100			2,738,121			2,712,012
Covered loans		1,882,417			1,968,136			460,943			0			0
Total loans		4,729,687			4,895,050			3,345,043			2,738,121			2,712,012
Less
Allowance for loan and lease losses		59,891			54,164			42,034			36,644			37,189
Net loans		4,669,796			4,840,886			3,303,009			2,701,477			2,674,823
Premises and equipment		108,608			106,999			91,252			85,433			84,932
Goodwill		51,908			51,627			64,309			28,261			28,261
Other intangibles		7,431			7,885			2,553			489			982
FDIC indemnification asset		309,432			310,295			78,387			0			0
Accrued interest and other assets		231,935			211,743			147,547			150,721			139,520
Total Assets	$	6,671,071		$	6,863,923		$	4,508,809		$	3,784,458		$	3,777,510
LIABILITIES
Deposits
Interest-bearing	$	1,050,697		$	1,093,735		$	735,258		$	630,885		$	642,934
Savings		1,318,374			1,233,715			838,381			645,197			620,509
Time		2,175,400			2,382,717			1,480,587			1,131,972			1,142,257
Total interest-bearing deposits		4,544,471			4,710,167			3,054,226			2,408,054			2,405,700
Noninterest-bearing		774,393			840,314			554,471			425,330			416,206
Total deposits		5,318,864			5,550,481			3,608,697			2,833,384			2,821,906
Short-term borrowings
Federal funds purchased and securities sold
under agreements to repurchase		38,413			41,456			55,197			176,592			127,652
Federal Home Loan Bank		0			1,096			72,855			169,341			218,100
Other		0			0			22,826			39,836			56,078
Total short-term borrowings		38,413			42,552			150,878			385,769			401,830
Long-term debt		399,843			408,744			205,908			136,189			144,358
Other long-term debt		20,620			20,620			20,620			20,620			20,620
Total borrowed funds		458,876			471,916			377,406			542,578			566,808
Accrued interest and other liabilities		188,555			161,686			41,867			28,552			37,939
Total Liabilities		5,966,295			6,184,083			4,027,970			3,404,514			3,426,653
SHAREHOLDERS' EQUITY
Preferred stock		47,521			78,573			78,221			78,126			78,038
Common stock		549,428			490,889			490,596			418,086			394,500
Retained earnings		302,984			302,159			106,729			78,296			77,317
Accumulated other comprehensive loss		(9,873	)		(6,372	)		(9,290	)		(7,936	)		(10,677	)
Treasury stock, at cost		(185,284	)		(185,409	)		(185,417	)		(186,628	)		(188,321	)
Total Shareholders' Equity		704,776			679,840			480,839			379,944			350,857
Total Liabilities and Shareholders' Equity	$	6,671,071		$	6,863,923		$	4,508,809		$	3,784,458		$	3,777,510

-18-

FIRST FINANCIAL BANCORP.

NET INTEREST MARGIN RATE / VOLUME ANALYSIS (1)

(Dollars in thousands)

(Unaudited)

	Quarterly Averages
	Mar. 31, 2010						Dec. 31, 2009						Mar. 31, 2009						Linked Qtr. Income Variance									Comparable Qtr. Income Variance
	Balance			Yield			Balance			Yield			Balance			Yield			Rate			Volume			Total			Rate			Volume			Total
Earning assets
Investment securities	$	558,595			4.09	%	$	608,952			4.39	%	$	758,257			4.88	%	$	(467	)	$	(644	)	$	(1,111	)	$	(1,480	)	$	(2,013	)	$	(3,493	)
Interest-bearing deposits with other banks		394,741			0.35	%		447,999			0.18	%		7,291			0.00	%		189			(55	)		134			6			336			342
Gross loans, including covered loans and indemnification asset (2)		5,041,411			6.80	%		5,208,281			6.58	%		2,717,097			5.02	%		2,933			(4,742	)		(1,809	)		11,931			38,998			50,929
Total earning assets		5,994,747			6.13	%		6,265,232			5.91	%		3,482,645			4.99	%		2,655			(5,441	)		(2,786	)		10,457			37,321			47,778
Nonearning assets
Allowance for loan and lease losses		(59,891	)					(54,164	)					(37,189	)
Cash and due from banks		336,333						274,601						78,359
Accrued interest and other assets		399,882						378,254						253,695
Total assets	$	6,671,071					$	6,863,923					$	3,777,510
Interest-bearing liabilities
Total interest-bearing deposits	$	4,544,471			1.40	%	$	4,710,167			1.45	%	$	2,405,700			1.65	%	$	(628	)	$	(931	)	$	(1,559	)	$	(1,519	)	$	7,364		$	5,845
Borrowed funds
Short-term borrowings		38,413			0.20	%		42,552			0.21	%		401,830			0.51	%		(1	)		(3	)		(4	)		(308	)		(180	)		(488	)
Long-term debt		399,843			2.59	%		408,744			2.53	%		144,358			3.67	%		61			(115	)		(54	)		(383	)		1,634			1,251
Other long-term debt		20,620			6.20	%		20,620			6.20	%		20,620			4.66	%		-			(7	)		(7	)		78			-			78
Total borrowed funds		458,876			2.56	%		471,916			2.49	%		566,808			1.47	%		60			(125	)		(65	)		(613	)		1,454			841
Total interest-bearing liabilities		5,003,347			1.51	%		5,182,083			1.54	%		2,972,508			1.62	%		(568	)		(1,056	)		(1,624	)		(2,132	)		8,818			6,686
Noninterest-bearing liabilities
Noninterest-bearing demand deposits		774,393						840,314						416,206
Other liabilities		188,555						161,686						37,939
Shareholders' equity		704,776						679,840						350,857
Total liabilities & shareholders' equity	$	6,671,071					$	6,863,923					$	3,777,510
Net interest income(1)	$	72,020					$	73,182					$	30,928					$	3,223		$	(4,385	)	$	(1,162	)	$	12,589		$	28,503		$	41,092
Net interest spread(1)					4.62	%					4.37	%					3.37	%
Net interest margin(1)					4.87	%					4.63	%					3.61	%

(1) Not tax equivalent.

(2) Loans held for sale and nonaccrual loans are both included in gross loans.

-19-

FIRST FINANCIAL BANCORP.

CREDIT QUALITY

(excluding covered assets)

(Dollars in thousands)

(Unaudited)

	Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,
	2010			2009			2009			2009			2009
ALLOWANCE FOR LOAN AND LEASE LOSS ACTIVITY
Balance at beginning of period	$	59,311		$	55,770		$	38,649		$	36,437		$	35,873
Provision for loan and lease losses		11,378			14,812			26,655			10,358			4,259
Gross charge-offs
Commercial		6,275			1,143			2,924			4,707			2,521
Real estate - construction		2,126			6,788			4,552			1,340			0
Real estate - commercial		3,932			1,854			927			1,351			382
Real estate - residential		534			262			471			351			231
Installment		414			449			315			304			400
Home equity		684			1,105			382			332			218
All other		520			454			492			386			308
Total gross charge-offs		14,485			12,055			10,063			8,771			4,060
Recoveries
Commercial		109			148			91			333			60
Real estate - construction		0			0			0			0			0
Real estate - commercial		12			360			167			14			16
Real estate - residential		3			3			2			20			2
Installment		160			195			205			203			254
Home equity		87			6			9			1			0
All other		67			72			55			54			33
Total recoveries		438			784			529			625			365
Total net charge-offs		14,047			11,271			9,534			8,146			3,695
Ending allowance for loan and lease losses	$	56,642		$	59,311		$	55,770		$	38,649		$	36,437
NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES (ANNUALIZED)
Commercial		3.18	%		0.47	%		1.31	%		2.08	%		1.21	%
Real estate - construction		4.36	%		10.48	%		6.90	%		2.09	%		0.00	%
Real estate - commercial		1.29	%		0.57	%		0.30	%		0.62	%		0.17	%
Real estate - residential		1.13	%		0.31	%		0.56	%		0.38	%		0.25	%
Installment		1.30	%		1.15	%		0.50	%		0.45	%		0.62	%
Home equity		0.73	%		1.31	%		0.47	%		0.44	%		0.30	%
All other		6.46	%		5.40	%		6.35	%		5.00	%		4.18	%
Total net charge-offs		2.00	%		1.53	%		1.31	%		1.19	%		0.55	%
COMPONENTS OF NONPERFORMING LOANS, NONPERFORMING ASSETS, AND UNDERPERFORMING ASSETS
Nonaccrual loans
Commercial	$	21,572		$	13,756		$	13,244		$	8,100		$	8,412
Real estate - construction		17,710			35,604			26,575			11,936			240
Real estate - commercial		21,196			15,320			12,407			10,130			9,170
Real estate - residential		4,116			3,993			5,253			4,897			4,724
Installment		365			660			493			394			464
Home equity		1,910			2,324			2,534			2,136			1,681
All other		0			0			0			0			0
Total nonaccrual loans		66,869			71,657			60,506			37,593			24,691
Restructured loans		7,584			6,125			3,102			197			201
Total nonperforming loans		74,453			77,782			63,608			37,790			24,892
Other real estate owned (OREO)		18,087			4,145			4,301			5,166			3,513
Total nonperforming assets		92,540			81,927			67,909			42,956			28,405
Accruing loans past due 90 days or more		286			417			308			318			255
Total underperforming assets	$	92,826		$	82,344		$	68,217		$	43,274		$	28,660
Total classified assets	$	171,112		$	163,451		$	137,288		$	106,315		$	79,256
CREDIT QUALITY RATIOS (excluding covered assets)
Allowance for loan and lease losses to
Nonaccrual loans		84.71	%		82.77	%		92.17	%		102.81	%		147.57	%
Nonperforming loans		76.08	%		76.25	%		87.68	%		102.27	%		146.38	%
Total ending loans		2.01	%		2.05	%		1.94	%		1.34	%		1.33	%
Nonperforming loans to total loans		2.64	%		2.69	%		2.21	%		1.31	%		0.91	%
Nonperforming assets to
Ending loans, plus OREO		3.27	%		2.83	%		2.36	%		1.48	%		1.04	%
Total assets		1.41	%		1.23	%		0.94	%		1.14	%		0.75	%

-20-

FIRST FINANCIAL BANCORP.

CAPITAL ADEQUACY

(Dollars in thousands)

(Unaudited)

	Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,
	2010			2009			2009			2009			2009
PER COMMON SHARE
Market Price
High	$	19.00		$	15.48		$	12.07		$	11.92		$	12.10
Low	$	13.89		$	11.83		$	7.52		$	7.35		$	5.58
Close	$	17.78		$	14.56		$	12.05		$	7.53		$	9.53
Average common shares outstanding - basic		55,161,551			51,030,661			51,027,887			40,734,254			37,142,531
Average common shares outstanding - diluted		56,114,424			51,653,562			51,457,189			41,095,949			37,840,954
Ending common shares outstanding		57,833,969			51,433,821			51,431,422			51,434,346			37,474,422
REGULATORY CAPITAL	Preliminary
Tier 1 Capital	$	670,620		$	654,104		$	644,988		$	454,243		$	358,834
Tier 1 Ratio		17.93	%		16.74	%		16.06	%		14.77	%		12.16	%
Total Capital	$	717,939		$	703,202		$	695,420		$	492,696		$	395,271
Total Capital Ratio		19.19	%		17.99	%		17.32	%		16.02	%		13.39	%
Total Capital in excess of minimum
requirement	$	418,661		$	390,554		$	374,219		$	246,613		$	159,133
Total Risk-Weighted Assets	$	3,740,979		$	3,908,105		$	4,015,018		$	3,076,042		$	2,951,721
Leverage Ratio		10.10	%		9.57	%		14.41	%		12.02	%		9.51	%
OTHER CAPITAL RATIOS
Ending shareholders' equity to ending
assets		10.54	%		10.11	%		9.24	%		11.81	%		9.29	%
Ending common shareholders' equity
to ending assets		10.54	%		8.92	%		8.16	%		9.74	%		7.24	%
Ending tangible shareholders' equity
to ending tangible assets		9.73	%		9.30	%		8.48	%		11.14	%		8.60	%
Ending tangible common shareholders'
equity to ending tangible assets		9.73	%		8.10	%		7.40	%		9.06	%		6.54	%
Average shareholders' equity to
average assets		10.56	%		9.90	%		10.66	%		10.04	%		9.29	%
Average common shareholders' equity
to average assets		9.85	%		8.76	%		8.93	%		7.98	%		7.22	%
Average tangible shareholders' equity
to average tangible assets		9.77	%		9.12	%		9.46	%		9.35	%		8.59	%
Average tangible common shareholders'
equity to average tangible assets		9.05	%		7.96	%		7.70	%		7.27	%		6.51	%

-21-