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First Financial Bancorp's CEO Discusses Q2 2012 Results - Earnings Call Transcript

With regard to the [MPR] related Basel III capital standards, while the proposed rules are not final we performed a preliminary analysis under several scenarios and determined that our capital levels are still well in excess of the proposed guidelines. As we manage capital going forward we are obviously in a wait and see period until the new capital guidelines are finalized. Once those guidelines are finalized we will perform a thorough analysis to determine whether or not our stated thresholds are still appropriate.

Total class by assets continued to improve, declining for the seventh consecutive quarter, and are down $9.1 million or 5.9% compared to the linked quarter; and down $39.2 million or 21% compared to June 30, 2011. Net charge offs related to uncovered loans totaled $6.8 million or 93 basis points of average loan balances during the quarter, a slight increase over the linked quarter.

Contributing to the quarterly total was $2 million related to the residual balances of two nonperforming credits sold to third parties. Total nonperforming loans to total loans decreased slightly to 2.76% as of June 30 from 2.79% as of March 31. As I noted earlier, our provision for loan losses related to uncovered loans increased $5.1 million during the quarter to $8.4 million. The provision expense is a byproduct of our internal model used to estimate the period end allowance for loan losses. The increase in the provision for the quarter was driven primarily from having to establish or add to specific reserves totaling $6.1 million in the aggregate related to three separate larger credits in our commercial and commercial real estate portfolios.

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