First Financial Bancorp. Q4 Net Income Declines YoY - Quick Facts

(RTTNews) - First Financial Bancorp. (FFBC) reported that, after adjustments for merger-related and nonrecurring items, net income was $0.52 per share, for the fourth-quarter. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.53 for the quarter. Analysts' estimates typically exclude special items. Reported net income was $48.7 million or $0.49 per share compared to $55.0 million or $0.56 per share, a year ago.

Fourth-quarter net interest income after provision for loan and lease losses declined 5.3 percent year-on-year to $114.27 million. Total noninterest income was $36.77 million, an increase of 24.6 percent from prior year. Analysts expected revenue of $154.57 million for the quarter.

Fourth-quarter return on average assets was 1.34% compared to 1.59%, prior year. Return on average tangible common equity was 15.84% compared to 19.63%, a year ago. After adjustments for merger-related and nonrecurring items, the company recorded 1.41% return on average assets; and 16.73% return on average tangible common equity, for the fourth quarter of 2019.