Exhibit 99.1

FOR IMMEDIATE RELEASE
Media Contact:		Cheryl Lipp
		(513) 979-5797
		cheryl.lipp@bankatfirst.com
Analyst Contact:		J. Franklin Hall
		(513) 979-5770
		frank.hall@bankatfirst.com

First Financial Bancorp Reports Full Year and Fourth Quarter 2006 Earnings

	•		Full year 2006 net earnings of $0.54 per diluted share versus $0.88 in 2005 as the company substantially completed its previously announced transition strategies
	•		Fourth quarter net earnings of $0.02 per diluted share versus $0.07 in 2005
	•		Improved earning asset mix with stable net interest margin
	•		Year over year period-end growth in commercial, commercial real estate, and construction loans of $147.1 million or 11.7 percent, excluding the effects of the branch and loan sales

HAMILTON, Ohio – January 26, 2007 — First Financial Bancorp (Nasdaq: FFBC) president and chief executive officer, Claude E. Davis, today announced full year 2006 earnings of $21,271,000 or 54 cents in diluted earnings per share, compared to $37,933,000 or 88 cents in diluted earnings per share for the full year 2005. First Financial also announced fourth quarter 2006 earnings of $827,000 or 2 cents in diluted earnings per share, compared to $2,834,000 or 7 cents in diluted earnings per share for the same period in 2005.

Earnings from continuing operations were $21,271,000 and $30,808,000 for the full years 2006 and 2005, respectively. Full year 2005 earnings from discontinued operations were $7,125,000 or 17 cents per diluted share. There were no earnings from discontinued operations during the full year 2006 or the fourth quarter 2005.

Unless otherwise noted, all amounts discussed are pre-tax except income or loss from continuing operations, net income, and per-share data which is presented after-tax.

The following items materially impacted performance in the fourth quarter 2006 and are not expected to impact the future run-rate:

	•		Charge-off and related provision expense associated with the $15 million of loans held for sale and three commercial loan charge-offs – approximately $4.4 million or 7 cents per share
	•		FAS 88 settlement and curtailment charges for the defined benefit pension plan – approximately $3.0 million or 5 cents per share

	•		Costs associated with conversion to a new technology infrastructure – approximately $1 million or 2 cents per share
	•		Employee-related exit and hiring costs – approximately $1 million or 2 cents per share
	•		Asset write-offs related to branding – approximately $1 million or 2 cents per share

Summary and Outlook of Key Drivers

Net interest margin increased to 3.95 percent in the fourth quarter 2006 from 3.72 percent for the fourth quarter 2005 and 3.93 percent for the linked-quarter (fourth quarter 2006 compared to third quarter 2006). The 2007 margin forecast is within a range of 3.90 percent to 4.05 percent, dependent largely on the continuation of the asset mix shift, a tapering off of the deposit account migration, and planned deposit portfolio pricing changes. Earning asset levels in 2007 are expected to grow modestly as the counterbalancing effects of commercial loan growth versus continued retail mortgage and indirect consumer loan runoff. Deposit account growth in 2007 is expected to occur with the introduction of new, competitive commercial deposit products.

Noninterest income, excluding the effects of the 2006 branch and loan sale gains as well as the fourth quarter 2005 loss on sale of investment securities, remained relatively stable for 2006, with strong service charge income growth due largely to the continued benefits of the overdraft protection program introduced in 2005. The expectation for noninterest income growth in 2007 is dependent on increased levels of fee income due to both expected growth in market value for assets under management in the Wealth Resource Group and deposit account growth in both commercial and retail areas.

Noninterest expense was significantly impacted during 2006 by the transition costs associated with the company’s execution of its Strategic Plan. With relatively minor transition steps remaining, management expects that 2007 expense levels will be more in line with peers with an anticipated efficiency ratio of between 62 and 65 percent, but remains committed to the long-term goal of 55 to 60 percent.

Capital management efforts through share repurchase resulted in 252,000 shares repurchased in the fourth quarter at a cost of $4.2 million and 404,000 shares repurchased during the full year of 2006 at a cost of $6.6 million. First Financial expects to repurchase approximately 1,000,000 shares in 2007.

First Financial adopted FASB Statement No. 158, “Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans,” effective December 31, 2006. This new accounting standard requires First Financial to record the funded status of its defined benefit pension plan as an asset and recognize unamortized gains and

losses as a component of shareholders’ equity. The adoption of this statement decreased First Financial’s shareholders’ equity by approximately $5.4 million.

Credit quality is expected to stabilize in 2007 and management is projecting a net charge-off level of between 30 and 40 basis points for the full year. First Financial has made the strategic decision to sell approximately $15 million in commercial, commercial real estate, residential real estate, and related installment loans. The portfolio was moved to “loans held for sale” with the related write-down of approximately $4.4 million recognized in the fourth quarter 2006.

Full year 2006 return on average assets was 0.62 percent, compared to 1.00 percent for the full year 2005, while return on equity was 7.13 percent for 2006 versus 10.40 percent for 2005. Return on average assets for the fourth quarter 2006 was 0.10 percent compared to 0.30 percent for the same period in 2005. Return on average shareholders’ equity was 1.10 percent for the fourth quarter 2006, versus 3.20 percent for the comparable period in 2005.

(The preceding overview of First Financial Bancorp’s earnings is supplemented with the following detail:)

Current Period Operating Results

NET INTEREST INCOME

Full Year 2006 vs. Full Year 2005

Net interest income on a full year 2006 versus 2005 basis declined from $133.0 million in 2005 to $125.1 million in 2006, a $7.9 million or 5.94 percent decrease. This was primarily due to a planned reduction in total earning assets through targeted loan sales, the decision to exit the indirect lending line of business, and the strategic decision to sell conforming mortgage loan production into the secondary market; compounded by the increase in deposit costs, including account migration to higher yielding products.

Fourth Quarter 2006 vs. Fourth Quarter 2005

Net interest income for the fourth quarter 2006 was $30.1 million compared to $31.9 million in the fourth quarter 2005, a decrease of $1.8 million or 5.75 percent. This decrease is due primarily to previously mentioned asset strategies and continued effects of increased rates on deposits.

Fourth Quarter 2006 vs. Third Quarter 2006

Net interest income on a linked-quarter basis decreased from $30.8 million in the third quarter to $30.1 million in the fourth quarter, a $719,000 or 2.33 percent decrease, primarily as a result of lower earning asset levels.

NET INTEREST MARGIN

Full Year 2006 vs. Full Year 2005

Net interest margin for the full year 2006 increased 14 basis points from 3.87 percent to 4.01 percent due to the combined effects of the balance sheet restructuring (completed in the first quarter 2006) and the shift in loan portfolio mix away from indirect installment and conforming mortgage loans to higher-yielding commercial loans. These benefits were partially offset by the planned reduction in earning assets and an increase in deposit costs. For further details on this year over year increase, please see the attached Net Interest Margin Rate / Volume Analysis. The tax equivalent net interest margin was 4.09 percent compared to 3.96 percent for the full years of 2006 and 2005, respectively.

Fourth Quarter 2006 vs. Fourth Quarter 2005

Fourth quarter 2006 net interest margin of 3.95 percent increased 23 basis points from 3.72 percent for the fourth quarter 2005, primarily due to the previously mentioned changes in the asset levels and composition. On a tax equivalent basis, the fourth quarter 2006 net interest margin was 4.05 percent compared to a fourth quarter 2005 margin of 3.80 percent.

Fourth Quarter 2006 vs. Third Quarter 2006

Linked-quarter net interest margin increased 2 basis points from 3.93 percent to 3.95 percent. On a tax-equivalent basis, the fourth quarter 2006 net interest margin was 4.05 percent compared to a linked-quarter 4.01 percent.

The primary risk to our margin remains unanticipated consumer and competitor behavior related to deposit products, specifically the consumer preference for higher-yielding money market accounts rather than more traditional transaction accounts, and the aggressiveness in market pricing for both transaction and certificate of deposit accounts.

BALANCE SHEET TRENDS

Loans

Full Year 2006 vs. Full Year 2005

On a full year basis, average outstanding loan balances decreased $184 million or 6.67 percent, including loans held for sale. The overall decrease in the loan portfolio from 2005 was also impacted by several sale transactions. During the fourth quarter 2005, approximately $64 million in retail mortgage loans that no longer fit the risk profile of the company were sold, as well as a $38 million problem loan sale completed in the third quarter 2006 and a $15 million loan sale announced in the fourth quarter 2006. Furthermore, in the third quarter 2005 management made

the strategic decision to exit the indirect installment loan business. Fourth quarter 2006 runoff of this portfolio was approximately $15 million and approximately $150 million has runoff since the decision was made. Additionally, during 2005 First Financial made the decision to sell most of its mortgage loan production into the secondary market rather than retaining the loans in its portfolio. This strategy will continue with the recently announced strategic partnership with PHH Mortgage.

Since the third quarter of 2005, as a result of First Financial’s decision to improve the company’s asset mix and lower its risk profile, approximately $260 million of loans have been sold through various transactions.

Fourth Quarter 2006 vs. Fourth Quarter 2005

Average loans, net of unearned income, for the fourth quarter 2006 decreased $160 million or 6.02 percent from the comparable period a year ago. On a period-end basis, excluding the effects of the branch and loan sales, commercial, commercial real estate, and construction loans increased from $1.25 billion in the fourth quarter 2005 to $1.40 billion in the fourth quarter 2006, an increase of approximately $150 million or 11.7 percent.

Fourth Quarter 2006 vs. Third Quarter 2006

On a linked-quarter basis, average outstanding loan balances decreased $49 million or 1.94 percent. On a period-end basis, excluding the effect of the loan sale, commercial, commercial real estate, and construction loans increased from $1.38 billion in the third quarter 2006 to $1.40 billion in the fourth quarter 2006, an increase of approximately $20 million or 6.2 percent on an annualized basis.

Investments

Securities available for sale were $324.3 million at December 31, 2006, compared to $554.7 million at December 31, 2005. The combined investment portfolio was 11.09 percent and 16.47 percent of total assets at December 31, 2006, and December 31, 2005, respectively. In February of 2006, First Financial sold $179 million in investment securities and paid down $184 million in Federal Home Loan Bank borrowings. Reliance on wholesale borrowings has been greatly reduced as a result of the restructuring and is likely to continue for the next several quarters as First Financial continues to use excess liquidity to fund future growth.

Deposits

First Financial continues to experience a shift in deposit mix from time deposits to interest bearing transaction accounts. In total, deposit balances have remained relatively stable over the past year excluding the branch and related deposit sale.

Full Year 2006 vs. Full Year 2005

On a full year basis, average deposits decreased $29.7 million or 1.02 percent primarily due to the impact of the third quarter 2006 branch sales, which included $108.6 million of actual deposit balances.

Fourth Quarter 2006 vs. Fourth Quarter 2005

Average deposits for the fourth quarter 2006 decreased $111.2 million or 3.81 percent from the comparable period a year ago primarily due to the previously mentioned sale of branches and their related deposits.

Fourth Quarter 2006 vs. Third Quarter 2006

On a linked-quarter basis, average deposits decreased $84.5 million or 11.68 percent on an annualized basis primarily due to the fluctuation of a large public funds account.

NONINTEREST INCOME

Full Year 2006 vs. Full Year 2005

Full year 2006 noninterest income increased $22.6 million or 42.41 percent from the comparable period in 2005. When the full years of 2006 and 2005 are adjusted for the transition items shown below, noninterest income increased $952,000 or 1.57 percent.

		Full Year				Full Year
		2006				2005				$ Change				% Change
As reported		$	75,853			$	53,262			$	22,591				42.41	%
(Gain) on sale of branches			(12,545	)			—				(12,545	)			—
(Gain) loss from sales of loans			(2,200	)			851				(3,051	)			—
Loss on sale of investment securities			476				6,519				(6,043	)			—
Adjusted		$	61,584			$	60,632			$	952				1.57	%

The increase is primarily due to increases in service charges on deposit accounts of $3.0 million, offset by decreased impairment recapture on mortgage servicing rights and income from bank-owned life insurance.

Fourth Quarter 2006 vs. Fourth Quarter 2005

Fourth quarter 2006 noninterest income was $14.8 million, an increase of $5.4 million or 58.11 percent from the fourth quarter 2005. When the fourth quarter 2005 is adjusted for the transition items shown below, noninterest income decreased $271,000 or 1.79 percent.

		4Q06				4Q05				$ Change				% Change
As reported		$	14,829			$	9,379			$	5,450				58.11	%
(Gain) from sales of loans			—				(798	)			798				—
Loss on sale of investment securities			—				6,519				(6,519	)			—
Adjusted		$	14,829			$	15,100			$	(271	)			(1.79	)%

The $509,000 increase in service charges on deposit accounts in the fourth quarter 2006 compared to the fourth quarter 2005 was offset by lower income from bank-owned life insurance.

Fourth Quarter 2006 vs. Third Quarter 2006

On a linked-quarter basis, total noninterest income decreased $15.6 million or 51.27 percent. When the third quarter 2006 is adjusted for the transition items shown below, noninterest income decreased $855,000 or 5.45 percent primarily as a result of a seasonal adjustment to income from bank-owned life insurance.

		4Q06				3Q06				$ Change				% Change
As reported		$	14,829			$	30,429			$	(15,600	)			(51.27	)%
(Gain) on sale of branches			—				(12,545	)			12,545				—
(Gain) from sales of loans			—				(2,200	)			2,200				—
Adjusted		$	14,829			$	15,684			$	(855	)			(5.45	)%

NONINTEREST EXPENSE

Full Year 2006 vs. Full Year 2005

Full year noninterest expense increased $23.1 million or 16.87 percent due to the following items:

	•		debt extinguishment prepayment penalty of $4.3 million recorded in the first quarter 2006 in conjunction with the balance sheet restructure
	•		increases in salaries and benefits of $6.8 million primarily due to pension and other retirement-related expenses of $3.7 million resulting from First Financial’s staff reductions, severance charges of $1.6 million, as well as $645,000 in incentive compensation and healthcare costs
	•		increases in data processing of $3.1 million primarily due to fees and charges associated with the early termination of technology contracts, as well as increases in software license amortization of $488,000
	•		increases in occupancy of $1.4 million due to increased maintenance costs, utilities, and new building rent consistent with First Financial’s facilities and branch expansion plans
	•		increase in marketing expenses of $1.0 million primarily associated with the new branding initiative
	•		increases in other noninterest expense of $6.2 million due primarily to $1.3 million in losses on the disposal of fixed assets associated with the brand initiative signage replacement, the branch sales, and the disposal of personal computers associated with the technology upgrade, $980,000 in relocation and travel-related expenses, $642,000 in losses on the disposition of various real estate owned and other property, $626,000 in credit and collection expense, and $572,000 in state intangible tax

Fourth Quarter 2006 vs. Fourth Quarter 2005

Total noninterest expense increased $3.9 million or 11.00 percent during the fourth quarter 2006 as compared to the fourth quarter 2005. This increase was primarily due to the following items:

•

increases in salaries and benefits of $964,000 primarily due to increased pension and other retirement-related expenses of $2.7 million resulting from First Financial’s staff reductions, offset by lower severance

			and incentive-based compensation costs of $1.6 million. At December 31, 2006, First Financial had 1,214 full time equivalent employees versus 1,460 at December 31, 2005.
	•		increase in marketing expenses of $318,000 associated with the new branding initiative
	•		First Financial’s technology upgrade resulted in the company moving from an out-sourced to an in-house data processing environment. Certain items previously disclosed in data processing expense have been separated beginning in the fourth quarter 2006 and are now disclosed in specific line items such as communication expense, which increased $373,000 as a result of this change, offset by a decline in data processing expense of $211,000.
	•		increases in other noninterest expense of $2.3 million due to the impact of a number of strategic initiatives, including $835,000 in losses on the disposal of fixed assets associated with the brand initiative signage replacement, $408,000 in technology contract early termination fees, and $345,000 in relocation, travel, and training-related expenses primarily associated with the execution of the Strategic Plan

Fourth Quarter 2006 vs. Third Quarter 2006

On a linked-quarter basis, noninterest expense was $360,000 greater than the third quarter. This increase was due to the following items:

	•		increases in salaries and benefits of $1.3 million primarily due to increased pension expenses of $3.1 million as a result of First Financial’s staff reductions, offset by decreased incentive-based compensation and employee base salary expense of $1.4 million
	•		First Financial’s technology upgrade resulted in the company moving from an out-sourced to an in-house data processing environment. Certain items previously disclosed in data processing expense have been separated beginning in the fourth quarter 2006 and are now disclosed in specific line items such as communication expense, which increased $383,000, offset by a decrease in data processing expense of $1.5 million due partially to third quarter 2006 early termination fees of $500,000.
	•		decreases in professional services of $357,000 primarily due to higher charges in the third quarter related to the data and voice telecommunication system upgrade
	•		increases in other noninterest expense of $579,000 were due primarily to $324,000 in losses on the disposal of fixed assets associated with the brand initiative signage replacement, the branch sales, and the disposal of personal computers associated with the technology upgrade

INCOME TAXES

Income tax benefit related to operating income was $1.4 million and $290,000 for the three months ended December 31, 2006 and 2005, respectively. During the fourth quarter 2006, First Financial reversed certain reserves related to several tax positions that were no longer considered necessary. Full year income tax expense related to operating income was $9.4 million in 2006 versus $12.6 million in 2005. Full year income tax expense related to discontinued operations was

$3.8 million for 2005. The overall effective tax rate for 2006 and 2005 was 30.76 percent and 30.23 percent, respectively. The effective tax rate for income from continuing operations was 29.05 percent and for income from discontinued operations was 34.93 percent for the full year 2005. The estimated effective tax rate for 2007 is 33 percent.

CREDIT QUALITY

The credit quality categories that are included in nonperforming and underperforming assets, both including and excluding the impact of the fourth quarter 2006 loan sale announcement, are presented in the table below (dollars in thousands).

		Quarter Ended
		2006																				2005
		Dec. 31								Sep. 30				Jun. 30				Mar. 31				Dec. 31
						Excluding								Excluding
						loans held								loans held
						for sale								for sale
Nonaccrual loans		$	16,262			$	10,236			$	18,692			$	12,202			$	26,838			$	24,961
Restructured loans			596				596				603				610				3,293				3,408
Other real estate owned			2,334				2,334				2,859				2,277				2,675				3,162
Total nonperforming assets			19,192				13,166				22,154				15,089				32,806				31,531
Accruing loans past due 90 days or more			185				185				788				758				1,104				1,359
Total underperforming assets		$	19,377			$	13,351			$	22,942			$	15,847			$	33,910			$	32,890
Nonperforming assets as a percentage of loans, net of unearned income plus other real estate owned			0.77	%			0.53	%			0.88	%			0.58	%			1.25	%			1.20	%
Underperforming assets as a percentage of loans, net of unearned income plus other real estate owned			0.78	%			0.54	%			0.91	%			0.61	%			1.30	%			1.25	%
Net charge-offs to average loans, net of unearned income			1.64	%			0.95	%			0.17	%			0.40	%			0.40	%			0.38	%
Allowance for loan losses to total nonperforming assets			142.7	%			208.0	%			143.9	%			199.4	%			123.9	%			134.7	%

Full Year 2006 vs. Full Year 2005

During the fourth quarter 2006, First Financial made the strategic decision to sell approximately $15 million in commercial, commercial real estate, residential real estate, and related installment loans. This sale portfolio is comprised of credits that are currently in or are soon to be in foreclosure. These loans were transferred to “loans held for sale” at the lower of cost or estimated fair value of $8.8 million. The loans will be marketed by the Loan Portfolio Sales Group of Keefe, Bruyette and Woods, Inc. during the first quarter 2007, and the company anticipates the sale will close before the end of the quarter.

Full year 2006 net charge-offs were $24.9 million, or 0.97 percent of average loans, as compared to full year 2005 net charge-offs of $8.2 million, or 0.30 percent of average loans. Full year 2006 net charge-offs, excluding the effect of the loan sale write-down recorded in both the second and fourth quarters of 2006, were $12.2 million or 0.47 percent of average loans.

Total underperforming assets decreased $13.5 million from $32.9 million at the end of the fourth quarter 2005 to $19.4 million at the end of the fourth quarter 2006. This improvement was primarily due to a decrease in nonaccrual loans of $8.7 million and restructured loans of $2.8 million. Excluding loans held for sale, total underperforming assets decreased $19.5 million from $32.9 million at the end of the fourth quarter 2005 to $13.4 million at the end of the fourth quarter 2006. A large percentage of the underperforming loans are secured by real estate. These credits have been appropriately considered in establishing the allowance for loan losses at December 31, 2006.

The ratio of nonperforming assets to ending loans decreased from 1.20 percent as of the end of the fourth quarter 2005 to 0.77 percent as of December 31, 2006. Excluding loans held for sale, the nonperforming assets to ending loans ratio as of December 31, 2006, was 0.53 percent.

Full year 2006 provision for loan losses was $9.8 million compared to $5.6 million for the full year 2005. The provision is a result of management’s quarterly analysis of the adequacy of the allowance for loan losses. The allowance to ending loans ratio as of December 31, 2006, was 1.10 percent versus 1.62 percent for the same quarter a year ago. It is management’s belief that the allowance for loan losses of $27.4 million is adequate to absorb probable credit losses inherent in the portfolio, and the changes in the allowance and the resultant provision are consistent with the internal assessment of the risk in the loan portfolios.

Fourth Quarter 2006 vs. Fourth Quarter 2005

Net charge-offs were $5.9 million, or 0.95 percent of average loans, for the fourth quarter 2006 excluding the impact from the transfer of approximately $15 million of loans to loans held for sale, compared to $2.6 million, or 0.38 percent of average loans in the fourth quarter 2005. This higher level of net charge-offs in the fourth quarter is primarily due to three commercial customer relationships totaling $3.1 million.

The provision for loan losses for the fourth quarter 2006 was $5.8 million compared to $3.0 million for the same period in 2005.

Fourth Quarter 2006 vs. Third Quarter 2006

Fourth quarter 2006 net charge-offs were $5.9 million, or 0.95 percent of average loans, excluding the impact from the transfer of approximately $15 million of loans to loans held for sale, compared to the third quarter 2006 net

charge-offs of $1.1 million, or 0.17 percent of average loans. This higher level of net charge-offs in the fourth quarter is primarily due to the previously mentioned commercial loan charge-offs. Excluding loans held for sale, total underperforming assets on the linked-quarter basis decreased $9.6 million. The ratio of nonperforming assets to period-end loans was 0.53 percent for the fourth quarter 2006, excluding loans held for sale, compared to the third quarter 2006 ratio of 0.88 percent.

The provision for loan losses on a linked-quarter basis increased $2.9 million to $5.8 million for the fourth quarter 2006. The fourth quarter 2006 allowance to ending loans ratio was 1.10 percent, compared to the third quarter 2006 of 1.27 percent.

Earnings Conference Call and Webcast

Due to the level of information recently furnished to its investors and shareholders in releases dated January 11, 2007, and December 21, 2006, First Financial will not host an earnings conference call and webcast to discuss the results for the fourth quarter and the full year of 2006. Questions regarding this information should be directed to the Media Contact, Cheryl Lipp, or the Analyst Contact, J. Franklin Hall.

This release should be read in conjunction with the consolidated financial statements, notes, and tables attached and in the First Financial Bancorp Annual Report on Form 10-K for the year ended December 31, 2005. Management’s analysis contains forward-looking statements that are provided to assist in the understanding of anticipated future financial performance. However, such performance involves risk and uncertainties that may cause actual results to differ materially. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to, the ability of the company to implement its strategic plan, the strength of the local economies in which operations are conducted, the effects of and changes in policies and laws of regulatory agencies, inflation, and interest rates. For further discussion of certain factors that may cause such forward-looking statements to differ materially from actual results, refer to the 2005 Form 10-K and other public documents filed with the SEC. These documents are available on our investor relations website at www.bankatfirst.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in our annual report on Form 10-K for the year ended December 31, 2006, which will be filed with the SEC by March 1, 2007.

FIRST FINANCIAL BANCORP.
CONSOLIDATED FINANCIAL DATA

(Dollars in thousand, except per share)
(Unaudited)

																						Twelve months ended
		Dec. 31,				Sep. 30,				June 30,				March 31,				Dec. 31,				Dec. 31,
		2006				2006				2006				2006				2005				2006				2005
EARNINGS
Net interest income		$	30,104			$	30,823			$	31,947			$	32,199			$	31,939			$	125,073			$	132,967
Earnings from continuing operations			827				12,119				4,358				3,967				2,834				21,271				30,808
Earnings from discontinued operations			0				0				0				0				0				0				7,125
Net earnings			827				12,119				4,358				3,967				2,834				21,271				37,933
Earnings per share from continuing operations — basic		$	0.02			$	0.31			$	0.11			$	0.10			$	0.07			$	0.54			$	0.72
Earnings per share from continuing operations — diluted		$	0.02			$	0.31			$	0.11			$	0.10			$	0.07			$	0.54			$	0.71
Earnings per share from discontinued operations — basic		$	0.00			$	0.00			$	0.00			$	0.00			$	0.00			$	0.00			$	0.17
Earnings per share from discontinued operations — diluted		$	0.00			$	0.00			$	0.00			$	0.00			$	0.00			$	0.00			$	0.17
Net earnings per share — basic		$	0.02			$	0.31			$	0.11			$	0.10			$	0.07			$	0.54			$	0.89
Net earnings per share — diluted		$	0.02			$	0.31			$	0.11			$	0.10			$	0.07			$	0.54			$	0.88
KEY RATIOS
Return on average assets			0.10	%			1.40	%			0.51	%			0.45	%			0.30	%			0.62	%			1.00	%
Return on average shareholders’ equity			1.10	%			16.09	%			5.90	%			5.39	%			3.20	%			7.13	%			10.40	%
Return on average tangible shareholders’ equity			1.24	%			18.20	%			6.70	%			6.12	%			3.57	%			8.05	%			11.54	%
Average shareholders’ equity to average assets			8.98	%			8.72	%			8.64	%			8.42	%			9.44	%			8.69	%			9.57	%
Net interest margin			3.95	%			3.93	%			4.11	%			4.04	%			3.72	%			4.01	%			3.87	%
Net interest margin (fully tax equivalent) (1)			4.05	%			4.01	%			4.20	%			4.12	%			3.80	%			4.09	%			3.96	%
COMMON STOCK DATA
Average basic shares outstanding			39,377,735				39,612,408				39,605,631				39,560,109				42,069,965				39,539,114				43,084,378
Average diluted shares outstanding			39,395,456				39,619,786				39,619,729				39,612,496				42,180,824				39,562,010				43,172,750
Ending shares outstanding			39,245,407				39,507,716				39,660,341				39,562,350				39,563,480				39,245,407				39,563,480
Market price:
High			17.50				16.04			$	16.68			$	18.32			$	19.30			$	18.32			$	19.80
Low			15.52				14.20			$	14.63			$	15.88			$	17.51			$	14.20			$	16.65
Close			16.61				15.91			$	14.91			$	16.64			$	17.52			$	16.61			$	17.52
Book value		$	7.27			$	7.58			$	7.37			$	7.50			$	7.58			$	7.27			$	7.58
Common dividend declared		$	0.16			$	0.16			$	0.16			$	0.16			$	0.16			$	0.64			$	0.64
AVERAGE BALANCE SHEET ITEMS
Loans less unearned income (4)		$	2,497,389			$	2,580,005			$	2,614,598			$	2,596,755			$	2,657,160			$	2,571,935			$	2,755,793
Investment securities			381,985				370,095				380,532				497,528				620,868				407,116				634,227
Other earning assets			142,320				158,940				122,413				141,513				127,701				141,347				46,224
Total earning assets			3,021,694				3,109,040				3,117,543				3,235,796				3,405,729				3,120,398				3,436,244
Total assets			3,332,388				3,426,417				3,428,839				3,545,412				3,719,197				3,432,661				3,811,223
Noninterest-bearing deposits			418,009				401,685				424,227				417,061				433,228				415,211				430,231
Interest-bearing deposits			2,392,092				2,492,898				2,477,026				2,486,336				2,488,062				2,461,914				2,476,552
Total deposits			2,810,101				2,894,583				2,901,253				2,903,397				2,921,290				2,877,125				2,906,783
Borrowings			192,811				200,856				202,792				313,743				418,388				227,146				443,575
Shareholders’ equity			299,320				298,909				296,087				298,578				350,934				298,227				364,631
CREDIT QUALITY
Ending allowance for loan losses			27,386				31,888			$	30,085			$	40,656			$	42,485			$	27,386			$	42,485
Nonperforming assets:
Nonaccrual (2)			10,236				18,692				12,202				26,838				24,961				10,236				24,961
Restructured (2)			596				603				610				3,293				3,408				596				3,408
OREO			2,334				2,859				2,277				2,675				3,162				2,334				3,162
Total nonperforming assets (2)			13,166				22,154				15,089				32,806				31,531				13,166				31,531
Loans delinquent over 90 days (2)			185				788				758				1,104				1,359				185				1,359
Gross charge-offs:
Commercial			5,675				1,238				3,521				1,516				1,066				11,950				4,677
Commercial real estate			1,099				119				5,818				276				449				7,312				750
Retail real estate			2,729				111				1,910				202				220				4,952				896
All other			1,413				689				762				1,271				1,583				4,135				5,267
Total gross charge-offs (3)			10,916				2,157				12,011				3,265				3,318				28,349				11,590
Recoveries:
Commercial			206				458				476				188				212				1,328				1,148
Commercial real estate			20				129				57				50				4				256				21
Retail real estate			4				130				78				10				141				222				237
All other			362				355				469				436				395				1,622				2,022
Total recoveries			592				1,072				1,080				684				752				3,428				3,428
Total net charge-offs			10,324				1,085				10,931				2,581				2,566				24,921				8,162
CREDIT QUALITY RATIOS
Allowance to ending loans, net of unearned income			1.10	%			1.27	%			1.15	%			1.56	%			1.62	%			1.10	%			1.62	%
Nonperforming assets to ending loans, net of unearned income plus OREO (2)			0.53	%			0.88	%			0.58	%			1.25	%			1.20	%			0.53	%			1.20	%
90 days past due to loans, net of unearned income (2)			0.01	%			0.03	%			0.03	%			0.04	%			0.05	%			0.01	%			0.05	%
Net charge-offs to average loans, net of unearned income (3)			1.64	%			0.17	%			1.68	%			0.40	%			0.38	%			0.97	%			0.30	%

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF EARNINGS

(Dollars in thousands)
(Unaudited)

		Three months ended,																				Twelve months ended,
		Dec. 31,				Sep. 30,				June 30,				March 31,				Dec. 31,				Dec. 31,
		2006				2006				2006				2006				2005				2006				2005
Interest income
Loans, including fees		$	44,972			$	45,484			$	44,386			$	42,857			$	42,766			$	177,699			$	172,636
Investment securities
Taxable			3,925				3,728				3,798				5,141				5,481				16,592				21,497
Tax-exempt			985				996				1,057				1,104				1,173				4,142				4,863
Total investment securities interest			4,910				4,724				4,855				6,245				6,654				20,734				26,360
Interest-bearing deposits with other banks			0				0				0				0				0				0				1
Federal funds sold and securities purchased under agreements to resell			1,894				2,116				1,500				1,582				1,297				7,092				1,700
Total interest income			51,776				52,324				50,741				50,684				50,717				205,525				200,697
Interest expense
Deposits			19,349				19,176				16,554				14,933				14,015				70,012				48,654
Short-term borrowings			1,027				953				892				896				473				3,768				1,961
Long-term borrowings			609				686				709				2,058				3,720				4,062				15,078
Subordinated debentures and capital securities			687				686				639				598				570				2,610				2,037
Total interest expense			21,672				21,501				18,794				18,485				18,778				80,452				67,730
Net interest income			30,104				30,823				31,947				32,199				31,939				125,073				132,967
Provision for loan losses			5,822				2,888				360				752				3,015				9,822				5,571
Net interest income after provision for loan losses			24,282				27,935				31,587				31,447				28,924				115,251				127,396
Noninterest income
Service charges on deposit accounts			5,766				5,672				5,431				5,089				5,257				21,958				18,976
Trust revenues			3,987				3,949				4,139				4,189				4,154				16,264				16,641
Bankcard interchange income			1,700				1,700				1,745				1,648				1,621				6,793				6,186
Gains from sales of loans			234				2,468				259				245				1,239				3,206				903
Gain on sale of branches			0				12,545				0				0				0				12,545				0
Losses on sales of investment securities			0				0				0				(476	)			(6,519	)			(476	)			(6,519	)
Other			3,142				4,095				4,267				4,059				3,627				15,563				17,075
Total noninterest income			14,829				30,429				15,841				14,754				9,379				75,853				53,262
Noninterest expenses
Salaries and employee benefits			21,234				19,968				23,110				20,217				20,270				84,529				77,690
Net occupancy			2,699				2,802				2,698				2,839				2,555				11,038				9,610
Furniture and equipment			1,496				1,297				1,334				1,480				1,297				5,607				6,276
Data processing			1,574				3,058				3,393				1,944				1,785				9,969				6,867
Marketing			1,022				1,138				647				683				704				3,490				2,464
Communication			1,204				821				642				667				831				3,334				3,085
Professional services			1,918				2,275				1,669				1,307				2,088				7,169				6,466
Amortization of intangibles			213				220				224				217				220				874				880
Debt extinguishment			0				0				0				4,295				0				4,295				0
Other			8,334				7,755				6,979				7,011				6,009				30,079				23,898
Total noninterest expenses			39,694				39,334				40,696				40,660				35,759				160,384				137,236
Earnings from continuing operations before income taxes			(583	)			19,030				6,732				5,541				2,544				30,720				43,422
Income tax (benefit) expense			(1,410	)			6,911				2,374				1,574				(290	)			9,449				12,614
Earnings from continuing operations			827				12,119				4,358				3,967				2,834				21,271				30,808
Discontinued operations
Other operating income			0				0				0				0				0				0				583
Gain on discontinued operations			0				0				0				0				0				0				10,366
Earnings from discontinued operations before income taxes			0				0				0				0				0				0				10,949
Income tax expense			0				0				0				0				0				0				3,824
Earnings from discontinued operations			0				0				0				0				0				0				7,125
Net earnings		$	827			$	12,119			$	4,358			$	3,967			$	2,834			$	21,271			$	37,933
ADDITIONAL DATA — FULLY TAX EQUIVALENT NET INTEREST INCOME*
Interest income		$	51,776			$	52,324			$	50,741			$	50,684			$	50,717			$	205,525			$	200,697
Tax equivalent adjustment			712				586				696				661				723				2,655				2,983
Interest income — tax equivalent			52,488				52,910				51,437				51,345				51,440				208,180				203,680
Interest expense			21,672				21,501				18,794				18,485				18,778				80,452				67,730
Net interest income — tax equivalent		$	30,816			$	31,409			$	32,643			$	32,860			$	32,662			$	127,728			$	135,950

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)
(Unaudited)

																		Annualized
		Dec. 31,				Sep. 30,				Dec. 31,				% Change				% Change
		2006				2006				2005				Yr. / Yr.				Linked-Qtr.
ASSETS
Cash and due from banks		$	119,407			$	117,067			$	163,281				(26.9	%)			8.0	%
Federal funds sold and securities purchased under agreements to resell			102,000				101,000				98,000				4.1	%			4.0	%
Investment securities, held-to-maturity			7,995				8,059				12,555				(36.3	%)			(3.2	%)
Investment securities, available-for-sale			324,259				329,225				554,673				(41.5	%)			(6.0	%)
Other investments			33,969				34,137				40,755				(16.7	%)			(2.0	%)
Loans
Commercial			673,445				663,522				582,594				15.6	%			6.0	%
Real estate — construction			101,688				92,434				86,022				18.2	%			40.0	%
Real estate — commercial			623,603				625,535				646,079				(3.5	%)			(1.2	%)
Real estate — retail			628,579				653,652				772,334				(18.6	%)			(15.3	%)
Installment, net of unearned			198,881				219,677				300,551				(33.8	%)			(37.9	%)
Home equity			228,128				231,741				214,649				6.3	%			(6.2	%)
Credit card			24,587				23,083				22,936				7.2	%			26.1	%
Lease financing			923				1,202				2,258				(59.1	%)			(92.8	%)
Total loans			2,479,834				2,510,846				2,627,423				(5.6	%)			(4.9	%)
Less
Allowance for loan losses			27,386				31,888				42,485				(35.5	%)			(56.5	%)
Net loans			2,452,448				2,478,958				2,584,938				(5.1	%)			(4.3	%)
Loans held for sale			8,824				0				0				100.0	%			100.0	%
Premises and equipment			79,609				78,820				73,025				9.0	%			4.0	%
Goodwill			28,261				28,261				28,116				0.5	%			0.0	%
Other intangibles			5,842				6,471				7,920				(26.2	%)			(38.9	%)
Accrued interest and other assets			138,985				125,084				127,545				9.0	%			44.5	%
Total Assets		$	3,301,599			$	3,307,082			$	3,690,808				(10.5	%)			(0.7	%)
LIABILITIES
Deposits
Interest-bearing		$	208,014			$	225,670			$	247,187				(15.8	%)			(31.3	%)
Savings			985,954				971,055				989,990				(0.4	%)			6.1	%
Time			1,179,852				1,198,059				1,247,274				(5.4	%)			(6.1	%)
Total interest-bearing deposits			2,373,820				2,394,784				2,484,451				(4.5	%)			(3.5	%)
Noninterest-bearing			424,138				381,937				440,988				(3.8	%)			44.2	%
Total deposits			2,797,958				2,776,721				2,925,439				(4.4	%)			3.1	%
Short-term borrowings
Federal funds purchased and securities sold under agreements to repurchase			57,201				54,129				66,634				(14.2	%)			22.7	%
Other			39,500				39,000				45,000				(12.2	%)			5.1	%
Total short-term borrowings			96,701				93,129				111,634				(13.4	%)			15.3	%
Federal Home Loan Bank long-term debt			63,762				68,197				286,655				(77.8	%)			(26.0	%)
Other long-term debt			30,930				30,930				30,930				0.0	%			0.0	%
Accrued interest and other liabilities			26,769				38,580				36,269				(26.2	%)			(122.5	%)
Total Liabilities			3,016,120				3,007,557				3,390,927				(11.1	%)			1.1	%
SHAREHOLDERS’ EQUITY
Common stock			392,736				392,156				392,607				0.0	%			0.6	%
Retained earnings			71,320				76,783				75,357				(5.4	%)			(28.5	%)
Accumulated comprehensive income			(13,375	)			(8,581	)			(7,876	)			69.8	%			223.5	%
Treasury stock, at cost			(165,202	)			(160,833	)			(160,207	)			3.1	%			10.9	%
Total Shareholders’ Equity			285,479				299,525				299,881				(4.8	%)			(18.8	%)
Total Liabilities and Shareholders’ Equity		$	3,301,599			$	3,307,082			$	3,690,808				(10.5	%)			(0.7	%)

ADDITIONAL DATA — RISK BASED CAPITAL

		(Preliminary)
		Dec. 31,				Sep. 30,				June 30,				March 31,				Dec. 31,
		2006				2006				2006				2006				2005
Tier 1 Capital		$	286,244			$	300,551			$	296,334			$	297,602			$	299,680
Tier 1 Ratio			11.28	%			11.89	%			11.37	%			11.58	%			11.49	%
Total Capital		$	313,824			$	332,302			$	326,464			$	329,897			$	332,458
Total Capital Ratio			12.36	%			13.14	%			12.52	%			12.83	%			12.75	%
Total Risk-Adjusted Assets		$	2,538,550			$	2,528,102			$	2,606,871			$	2,570,847			$	2,608,167
Leverage Ratio			8.67	%			8.85	%			8.72	%			8.47	%			8.12	%