- Full Year Earnings per Share Increased 18% Compared to 2015; Quarterly Shareholder Dividend Increased to $0.17 per Share
News: First Financial Bancorp. (Nasdaq: FFBC) belongs to Financial sector and Regional – Midwest Banks industry. First Financial Bancorp. (Nasdaq: FFBC) (“First Financial” or the “Organization”) proclaimed money related outcomes for the final quarter and entire year 2016. For the three months finished December 31, 2016, the Company expressed net pay of $23.3 million, or $0.38 per weakened regular share. These outcomes contrast with net pay of $22.9 million, or $0.37 per weakened normal share, for the second from last quarter of 2016 and $19.8 million, or $0.32 per weakened regular share, for the final quarter of 2015. For the twelve months finished December 31, 2016, First Financial had income per weakened basic share of $1.43 complexity to $1.21 for a similar period in 2015.
Return by and large resources for the final quarter of 2016 was 1.11% while return overall substantial regular value was 14.19%. These contrast with an arrival all things considered resources of 1.09% and profit for normal substantial regular value of 14.08% in the second from last quarter of 2016 and an arrival by and large resources of 0.99% and an arrival overall unmistakable basic value of 12.98% in the final quarter of 2015.
To begin with Financial’s Board of Directors likewise announced a 6.3% expansion in the quarterly profit to $0.17 per share, payable on April 3, 2017 to shareholders of record as of March 2, 2017.
Final quarter and entire year 2016 highlights include:
Net salary raised $0.4 million, or 1.9%, differentiation to the connected quarter; $13.5 million, or 17.9%, expansion for the entire year
Advance parities declined $32.0 million, or 0.6%, difference to the connected quarter; credit equalizations raised $368.7 million, or 6.8%, for the entire year
Add up to stores raised $187.1 million, or 3.0%, from the connected quarter; $346.2 million, or 5.6% expansion for the entire year
Net intrigue edge raised 5 premise guides differentiate toward the connected quarter to 3.66%; 3.71% on a completely assess comparable premise
Proceeded with strong final quarter and entire year acknowledge execution for lower nonaccrual, nonperforming and ordered resource equalizations
Connected quarter change in capital proportions; level 1 capital proportion of 10.46%, aggregate capital proportion of 13.1% and influence proportion of 8.59%
Restrained cost organization reflected in final quarter productivity proportion of 57.6%; 58.8% for the entire year
Claude Davis, Chief Executive Officer, remarked, “We are to a great degree content with another strong quarter, which was our 105th progressive quarter of productivity. Proactive monetary record organization and an enhanced net premium edge brought about solid quarterly income. Capital proportions enhanced amid the period and our final quarter comes about kept on mirroring an enduring credit environment and trained cost organization.”
“Taking a gander at entire year comes about, 2016 was an especially solid year for First Financial. With late acquisitions completely coordinated, we could focus our endeavors on natural development and conveying extraordinary customer benefit. These endeavors prompted to a 17.9% expansion in entire year net pay notwithstanding 6.8% and 5.6% advance and store development, separately.”
“As we head into 2017, we will keep on focusing on natural development and gaining by the energy produced by our 2016 endeavors. We trust our asset report is very much situated for the present financing cost environment and our capital levels and profit consistency position us to exploit arranged open doors should they emerge. Our organization remains situated for proceeded with achievement and further advance toward our expressed point of managed top quartile execution in the new year.”
This discharge declaring our final quarter and entire year 2016 monetary outcomes incorporates a going with slide presentation, which organization means to allude to amid the phone call on Friday, January 20, 2017.
Video chat/Webcast Information
To begin with Financial’s official organization will have a phone call to talk about the Company’s money related and working outcomes on Friday, January 20, 2017 at 8:30 a.m. Eastern Standard Time. Individuals from general society who might want to listen to the telephone call ought to dial (877) 506-6873 (U.S. toll free), (855) 669-9657 (Canada toll free) or +1 (412) 380-2003 (International) (no password required). The number ought to be dialed five to ten minutes before the begin of the phone call.
Summary: First Financial Bancorp. is a Cincinnati, Ohio based bank holding organization. As of December 31, 2016, the Company had $8.4 billion in resources, $5.8 billion in credits, $6.5 billion in stores and $865.2 million in shareholders’ value. The Company’s accomplice, First Financial Bank, established in 1863, gives keeping money and budgetary administrations items through its four lines of business: Commercial and Private Banking, Retail Banking, Investment Commercial Real Estate and Commercial Finance. These specialty units give customary saving money administrations to business and retail customers. Business and Private Banking incorporates First Financial Wealth Administration, which gives riches arranging, portfolio organization, trust and home, financier and retirement arrange benefits and had about $2.4 billion in resources under organization as of December 31, 2016. The Company’s essential working markets are situated in Ohio, Indiana and Kentucky where it works 102 keeping money focuses, while the Commercial Finance business loans into focused industry verticals on an across the nation premise.