CINCINNATI, Jan. 18, 2013 /PRNewswire/ -- First Financial Bancorp (Nasdaq: FFBC) ("First Financial" or the "Company") announced today that Anthony M. Stollings, EVP and Chief Risk Officer has been named the Company's new Chief Financial Officer effective January 18, 2013. He will succeed J. Franklin Hall, EVP, Chief Financial Officer and Chief Operating Officer. It is expected that Mr. Hall will assist the Company in the transition until his departure which is expected to be April 30, 2013. Mr. Hall's departure is unrelated to the Company's financial condition, financial reporting practices or investments. Claude E. Davis, President and Chief Executive Officer, said, "On behalf of the board and senior management team, I want to thank Frank for his many contributions over his more than 13-year tenure with the Company. He has been an influential leader with a key focus on company-wide financial and operational disciplines, and we wish him well in his future endeavors." Mr. Hall said, "For over 13 years, I have had the privilege of working with First Financial Bancorp. Over that time, the Company has nearly doubled in size and we have positioned it well for future growth and profitability. I would like to thank my incredible teams for their personal dedication and extraordinary contributions to the Company's success. I would also like to thank Claude and the Board of Directors for their many years of support and encouragement. I look forward to the opportunities that await me and I wish my colleagues and the Company much continued success." "Tony, our new CFO, inherits strong and talented finance, accounting, treasury, and investor relations teams that will appreciate his impressive breadth of experience," Mr. Davis said. "The Board of Directors and I have the utmost confidence in Tony's leadership as the new Chief Financial Officer. Tony has been an integral part of our team since joining the company in 2006. His leadership skills, strategic insights and financial acumen will be important contributors to our future success," added Mr. Davis.
Investors in First Financial Bancorp saw new options begin trading this week, for the May 2015 expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 144 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration.