Bank owner reports profit

Staff Reports

Cincinnati-based First Financial Bancorp has announced its second quarter earnings with net income of $22.6 million, or 36 cents per diluted common share.

Those results compare to net income of $19.8 million, or 32 cents per diluted common share, for the first quarter of 2016, and 18.9 million, or 31 cents per diluted common share, in the second quarter of 2015.

Second quarter highlights included:

Loan balances increased $196.6 million, or 14.4 percent, on an annualized basis, from the second quarter of 2015.

Stable net interest margin of 3.61 percent, or 3.67 percent, on a fully tax equivalent basis.

Other noninterest income included $2.4 million from the redemption of a limited partnership investment and $200,000 in losses on sales of investment securities.

Other noninterest expense included $200,000 in expenses related to branch-consolidation activities.

Claude Davis, chief executive officer, said the company was pleased with the results, which produced the 103rd consecutive quarter of profitability.

First Financial Bank has Columbus offices at 125 Third St., 3950 Jonathan Moore Pike and 2531 Eastbrook Plaza.

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