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First Financial Announces 5% Increase to Quarterly Dividend

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First Financial Announces 5% Increase to Quarterly Dividend

PR Newswire

CINCINNATI, July 24, 2018 /PRNewswire/ -- First Financial Bancorp (NASDAQ:FFBC) announced that the board of directors declared a 20-cent per share quarterly cash dividend at their meeting on July 24, 2018.  This represents an increase of approximately 5% over the previous quarterly cash dividend.  Payable on September 17, 2018, the dividend will be distributed to shareholders of record as of September 3, 2018.

Archie Brown, President and Chief Executive Officer, commented, "The successful integration of MainSource and First Financial, in addition to strong second quarter financial performance as a combined company facilitated further evaluation of our dividend policy and capital allocation strategies.  This increase in our dividend is consistent with our stated goal of consistently providing strong shareholder returns while supporting planned growth initiatives and maintaining target capital levels."

First Financial Bancorp has paid a cash dividend every quarter since the holding company was formed in April of 1983.  The Company's last dividend increase was in January of 2018.

 

About First Financial Bancorp
First Financial Bancorp. is a Cincinnati, Ohio based bank holding company.  As of June 30, 2018, the Company had $13.9 billion in assets, $8.9 billion in loans, $10.1 billion in deposits and $2.0 billion in shareholders' equity.  The Company's subsidiary, First Financial Bank, founded in 1863, provides banking and financial services products through its six lines of business: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance and Wealth Management.  These business units provide traditional banking services to business and retail clients.  Wealth Management provides wealth planning, portfolio management, trust and estate, brokerage and retirement plan services and had approximately $2.7 billion in assets under management as of June 30, 2018.  The Company's primary operating markets are located in Ohio, Indiana and Kentucky where it operated 158 banking centers as of June 30, 2018, while the Commercial Finance business lends into targeted industry verticals on a nationwide basis.  Additional information about the Company, including its products, services and banking locations is available at www.bankatfirst.com.

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SOURCE First Financial Bancorp.

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