FIRST FINANCIAL BANCORP /OH/ Earnings Per Share Disclosure
| (Dollars in thousands, except share and per share data) | 2025 | 2024 | 2023 | |||||||||||||||||
| Numerator | ||||||||||||||||||||
| Net income | $ | 255,605 | $ | 228,830 | $ | 255,863 | ||||||||||||||
| Denominator | ||||||||||||||||||||
| Basic earnings per common share - weighted average shares | 95,284,550 | 94,404,617 | 93,938,772 | |||||||||||||||||
| Effect of dilutive securities | ||||||||||||||||||||
| Employee stock awards | 873,414 | 1,001,102 | 1,157,295 | |||||||||||||||||
| Diluted earnings per common share - adjusted weighted average shares | 96,157,964 | 95,405,719 | 95,096,067 | |||||||||||||||||
| Earnings per share available to common shareholders | ||||||||||||||||||||
| Basic | $ | 2.68 | $ | 2.42 | $ | 2.72 | ||||||||||||||
| Diluted | $ | 2.66 | $ | 2.40 | $ | 2.69 | ||||||||||||||
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.