First Financial Bancorp
P R E S S R E L E A S E
For Immediate Release August 9, 2000
Contact Person:
Leon Zimmerman
President and CEO
(209) 367-2000
First Financial Bancorp Reports
10% Increase in Second Quarter 2000 Operating Results
Lodi, Calif. (August 9, 2000) - First Financial Bancorp (Symbol: FLLC),
parent company of Bank of Lodi, N.A., today reported income from continuing
operations of $196,000, or $0.13 per diluted share for its second quarter ended
June 30, 2000. This compares with income from continuing operations of $178,000,
or $0.11 per diluted share for the second quarter one year ago. "This represents
an increase of 10.1% over our net income of one year ago," noted Leon Zimmerman,
President and Chief Executive Officer. "We are pleased to see this Company
continue to grow and expand while improving the quality of service to our
customers, value to our shareholders and service to our communities."
For the six months ended June 30, 2000, income from continuing
operations was $542,000, or $0.35 per diluted share. This compares with income
from continuing operations of $451,000, or 0.29 per diluted share for the first
six months of 1999 and represents a 20.2% increase in year-to-date income from
continuing operations.
<PAGE>
First Financial Bancorp 2 August 9, 2000
Earnings Release
Based upon 2000 year-to-date net income, the annualized return on
average assets and equity were 0.61% and 7.69%, respectively. Under regulatory
standards, the Bank is categorized as "well-capitalized" with a ratio of
risk-adjusted assets to capital of 10.56% and a ratio of total capital to total
assets of 7.70%.
First Financial Bancorp is the parent of Bank of Lodi, N.A., a locally
owned community bank formed in 1982. Bank of Lodi, N.A. offers financial
services via the web at www.bankoflodi.com, by phone at 800-265-8577 or at any
one of its eight branches located in the communities of Lodi, Woodbridge,
Lockeford, Galt, Plymouth, San Andreas, Elk Grove, and Folsom. Bank of Lodi also
offers investment services through its affiliation with Investment Centers of
America.
END
