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First Financial Bancorp's Management Presents At Barclays 2012 Global Financial Services Conference (Transcript)

First Financial Bancorp (FFBC)

Barclays 2012 Global Financial Services Conference Call

September 12, 2012 8:15 am ET


Kenneth Lovik – Vice President-Investor Relations & Corporate Development

J. Franklin Hall – Executive Vice President, Chief Financial Officer and Chief Operating Officer


Matthew Keating – Barclays Capital, Inc.


Matthew Keating – Barclays Capital, Inc.

Matthew Keating and I work on the U.S. Bank’s Research team here at Barclays. Our discussion of Ohio-based banks continues this morning, and we’re very pleased to welcome First Financial Bancorp to our conference returning again this year. We believe that First Financial is a very well run organization with a sound growth strategy of transitioning its business and customer mix towards faster growing metropolitan markets within its Midwest footprint, largely Ohio and Indiana. More recently, well loan demand in its strategic market has been a bit low, its industry-leading capital levels have afforded it the flexibility to pursue acquisitions and return capital to shareholders. With the current dividend yield of over 7%, its one of the highest dividend yielding stocks in our bank universe.

With us, presenting today is Frank Hall, CFO and COO and also in attendance for the company are Ken Lovik, VP of Investor Relations & Corporate Development.

With that, I’ll turn it over to Frank.

J. Franklin Hall

Thank you, Matt, and good morning everyone and thank you to Barclays for inviting us to present at their conference. Here in the printed version of our presentation is our forward-looking statement. I’ll now turn to what many of you may already be familiar with, but I do want to remind you that we are a fairly simply straightforward bank that is conservatively managed that is known for strong execution in profitability located in the heart of the Midwest. We work diligently over the past several years to develop a strong sales culture across our lines of business, which include commercial, retail, wealth management, and franchise finance.

Our target commercial client is a small- to mid-size business located within our operating markets of Ohio, Kentucky or Indiana who have traditional deposit needs and lending needs of less than $15 million. Our retail business is supported by 122 locations primarily in metro or near metro markets. Our wealth management business manages over $2 billion in client assets and contributes approximately 25% of our adjusted non-interest income.

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