First Financial Bancorp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported net income was $36.418 million against $22.736 million a year ago. Basic and diluted earnings per share were $0.37 against $0.37 a year ago. Return on average assets was 1.05% against 1.06% a year ago. Return on average shareholder's equity was 7.36% against 10.25% a year ago. Book value per share was $20.40 against $14.45 a year ago. Tangible book value as at June 30, 2018 was $11.01 against $11.07 a year ago. Total interest income was $147.379 million against $80.789 million a year ago. Net interest income was $123.979 million against $68.520 million a year ago. Income before income taxes was $45.745 million against $33.951 million a year ago.

For the six months, the company reported net income was $66.924 million against $47.150 million a year ago. Diluted earnings per share were $0.83 against $0.76 a year ago. Return on average assets was 1.18 % against 1.12% a year ago. Return on average shareholder's equity was 9.25% against 10.80% a year ago. Total interest income was $237.733 million against $159.617 million a year ago. Net interest income was $199.791 million against $137.452 million a year ago. Income before income taxes was $83.904 million against $68.835 million a year ago.

For the second quarter of 2018, total net charge-offs was $4.039 million against $1.920 million a year ago.

For the year 2018, the company expects 21% tax rate for the year 2018.

The company expects the third quarter to have low single-digit growth on an annualized basis with gradual improvement to more normalized levels as it approaches the end of 2018. The company expects the net interest margin to be in the range of 3.95% to 4.05%. It expects the effective tax rate of approximately 19.5%.