<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: APRIL 22, 1997
FIRST FINANCIAL BANCORP
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
COMMISSION FILE NUMBER : 0-12499
CALIFORNIA 94-28222858
(STATE OR OTHER JURISDICTION OF (I.R.S.EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
701 SOUTH HAM LANE, LODI, CALIFORNIA 95242
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(209)-367-2000
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
NA
(FORMER NAME OR IF CHANGED SINCE LAST REPORT.)
1
<PAGE>
ITEM 5. OTHER EVENTS
EARNINGS FOR THE QUARTER ENDED MARCH 31, 1997
First Financial Bancorp, parent company of Bank of Lodi, reports earnings for
the quarter ended March 31, 1997, were $340,000, or $.25 per share, compared to
earnings of $128,000, or $.10 per share, for the comparable prior year quarter.
Annualized return on average assets and equity were 1.16% and 11.4%,
respectively, compared to .49% and 4.4%, respectively, for the prior year
quarter.
While earnings benefited from improvement in net interest margin and a 33%
increase in SBA and mortgage operations, certain income and expense items were
impacted by several significant items. Loan loss recoveries were realized on
several loans that had been charged off in previous years and resulted in a
negative loan loss provision of $80,000 and added approximately $445,000 to
interest income. Noninterest expenses increased relative to the prior year
quarter due to expense accruals related to the increase in quarterly
profitability, expenses associated with the resolution of nonearning assets, and
amortization of the investment in three new branches acquired from Wells Fargo
Bank. Those expense items totaled approximately $300,000 for the current year
quarter compared to the comparable quarter in 1996.
Total assets at March 31, 1997, were $140 million, representing a 34% increase
over December 31, 1996, and reflecting the impact of acquiring three branches
from Wells Fargo Bank in Galt, Plymouth, and San Andreas, California.
2
<PAGE>
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
First Financial Bancorp
Date April 22, 1997 /s/ David M. Philipp
-------------- --------------------
David M. Philipp
Executive Vice-President & CFO
Corporate Secretary
3
