First Financial Bancorp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, total interest income was $67,605,000 against $74,985,000 for the same period a year ago. Net interest income was $61,976,000 against $65,476,000 for the same period a year ago. Income before income taxes was $25,458,000 against $28,374,000 for the same period a year ago. Net income was $16,265,000 or $0.28 basic and diluted per share against $17,941,000 or $0.31 basic and diluted per share for the same period a year ago. Return on average assets was 1.03% against 1.09% for the same period a year ago. Return on average shareholders' equity was 9.06% against 9.89% for the same period a year ago.

For the year, total interest income was $280,930,000 against $308,817,000 for the same period a year ago. Net interest income was $61,976,000 against $65,476,000 for the same period a year ago. Income before income taxes was $103,745,000 against $105,039,000 for the same period a year ago. Net income was $67,303,000 or $1.16 basic and diluted per share against $66,739,000 or $1.16 basic and diluted per share for the same period a year ago. Return on average assets was 1.07% against 1.06% for the same period a year ago. Return on average shareholders' equity was 9.43% against 9.37% for the same period a year ago. As of December 31, 2012, tangible book value per common share was $10.47, consistent with September 30, 2012 and compared to $10.41 as of December 31, 2011. The full earnings impact of this growth has been muted due to the interest rate environment but the company has strong, growing commercial and retail sales teams in place that are well positioned to have continued success. Total interest income increased compared to the linked quarter due primarily to higher interest income earned on investment securities and loan P income during the period, including a $2.2 million prepayment fee related to the early payoff of a commercial credit.

The board of directors has authorized a regular dividend of $0.15 per common share and a variable dividend of $0.13 per common share for the next regularly scheduled dividend, payable on April 1, 2013 to shareholders of record as of March 1, 2013.

Net charge-offs on covered loans during the fourth quarter 2012 were $9.0 million compared to $6.1 million for the third quarter 2012, an increase of $2.9 million, or 48.5%.