Q1 2025 First Financial Bancorp Earnings Call Transcript
Key Points
- Adjusted earnings per share was $0.63, with a return on assets of 1.33% and a return on tangible common equity of 17.8%.
- Net interest margin remains strong at 3.88%, despite a slight decline from the previous quarter.
- Non-interest expenses declined by 3.3% due to a decrease in incentive compensation and lower fraud losses.
- Asset quality metrics improved, with net charge-offs declining and non-performing assets decreasing by 9.5%.
- Tangible book value per share increased by 5% from the linked quarter and 18% over the last year.
- Loan balances were stable, with first-quarter loan production seasonally lower, impacting loan growth.
- Average deposit balances decreased by $99 million due to a seasonal decline in public funds and lower broker deposit balances.
- Losses on the sale of securities negatively impacted non-interest income by $10 million.
- Elevated pre-payments in the ICRE portfolio are expected to continue, affecting loan growth.
- The company faces uncertainty regarding the impact of tariffs and remains cautious about potential economic turbulence.
Good morning ladies and gentlemen, and thank you for standing by. My name is Kelvin, and I will be your conference operator today. At this time, I would like to welcome everyone to the First Financial Bancorp first-quarter 2025 earnings conference call and webcast. (Operator Instructions)
Thank you. I would now like to turn the call over to Scott Crawley, please go ahead.
Thank you, Kelvin. Good morning everyone, and thank you for joining us on today's conference call to discuss First Financial Bancorp, first-quarter financial results. Participating on today's call will be Archie Brown, President and Chief Executive Officer; Jamie Anderson, Chief Financial Officer; and Bill Harrod, Chief Credit Officer.
Both the press release we issued yesterday and the accompanying slide presentation are available on our website at www.bankatfirst.com under the Investor Relations section. We'll make reference to the slides contained in the
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