Cincinnati-based First Financial Bancorp. reported third-quarter net income of $50.9 million, or 51 cents per share, compared with $50.7 million, or 51 cents per share, in the prior-year period.
The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was 55 cents.
Income before taxes was negatively impacted by $5.2 million of severance and merger-related items and $700,000 of branch consolidation costs, which combined to reduce earnings per share by 5 cents after income taxes.
The bank's total assets climbed to $14.48 billion from $14.44 billion in the linked quarter and $13.84 billion in the third quarter of 2018.
Total loans were $9.06 billion, up from $8.85 billion in the year-ago quarter, while total deposits came in at $10.08 billion, up from $9.75 billion in the prior-year period.
The company's net interest margin was 3.91%, compared with the 2018 third-quarter net interest margin of 4.06%. Total net charge-offs were $10.2 million for the third quarter, with provision for loan and lease losses of $5.2 million, compared to total net recoveries of $401,000 and provision for loan and lease losses of $3.2 million during the third quarter a year ago.