First Financial Bancorp (Nasdaq: FFBC) announced financial results for the three and nine months ended September 30, 2026. For the third quarter, the company reported net income of $81.2 million, or $0.77 per diluted common share. This represents a 11% increase in earnings per share compared to the third quarter of 2025 and the highest earnings per share in the company's history. For the nine months ended September 30, 2026, earnings per diluted share were $2.21, compared to $2.02 for the same period in 2025.
The company reported a return on average assets (ROAA) of 1.44% and a return on average tangible common equity (ROTCE) of 18.67% for the third quarter. These figures compare to 1.37% and 17.95%, respectively, in the second quarter of 2026. The company also reported a net interest margin of 4.05% on a fully tax-equivalent basis, which increased by 9 basis points from the linked quarter.
Loan balances increased by $170.2 million, or 4.9% on an annualized basis, during the quarter. Noninterest income was reported at $77.7 million, with adjusted noninterest income reaching a record $77.6 million, an 8% increase from the linked quarter. Adjusted noninterest income was driven by double-digit percentage growth in wealth management income, bankcard income, and client derivative fees.
Noninterest expenses for the quarter were $165.7 million, while the adjusted figure was $156.9 million. The company reported an efficiency ratio of 60.5% on a GAAP basis and 57.3% on an adjusted basis. Total Allowance for Credit Losses stood at $209.8 million, with an ACL to total loans ratio of 1.38%. Annualized net charge-offs were $7.2 million, or 21 basis points of total loans.
Capital ratios remain strong, with the total capital ratio increasing 8 basis points to 15.83% and Tier 1 common equity increasing 21 basis points to 12.54%. However, tangible book value per share decreased 5.9% from the linked quarter to $15.65.
The Board of Directors approved a quarterly dividend of $0.26 per common share for the next regularly scheduled dividend, payable on December 15, 2026, to shareholders of record as of December 1, 2026. Additionally, the company received Federal regulatory approval for its acquisition of Finward Bancorp and expects to close the transaction on January 1, 2027, subject to state regulatory and shareholder approvals.
