First Financial Bancorp
P R E S S R E L E A S E
For Immediate Release November 1, 2000
Contact Person:
Leon Zimmerman
President and CEO
(209) 367-2000
First Financial Bancorp Reports
Third Quarter 2000 Net Income
Lodi, Calif. (November 1, 2000) - First Financial Bancorp (Symbol:
FLLC), parent company of Bank of Lodi, N.A., today reported net income of
$247,000, or $0.16 per diluted share for its third quarter ended September 30,
2000. This compares with net income of $196,000, or $0.13 per diluted share for
the second quarter ended June 30, 2000. "This represents an increase of 26.0%
over our second quarter 2000 net income," noted Leon Zimmerman, President and
Chief Executive Officer. "We are pleased to see the continued growth of the
Company and are excited about our plans for the future."
For the nine months ended September 30, 2000, net income was $789,000,
or $0.51 per diluted share. This compares with net income of $786,000, or 0.51
per diluted share for the nine months ended September 30, 1999.
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Based upon 2000 year-to-date net income, the annualized return on
average assets and equity were 0.59% and 7.30%, respectively. Under regulatory
standards, the Bank is categorized as "well-capitalized" with a ratio of
risk-adjusted assets to capital of 10.88% and a ratio of total capital to total
assets of 7.75%.
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 888-265-8577 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.
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