UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C
FORM
11-K
x ANNUAL
REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF
1934
For the
fiscal year ended December 31, 2009
OR
¨ TRANSITION
REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF
1934
For the
transition period from ____________ to ____________
Commission
file number 0-12379
First
Financial Bancorp 401(k) Savings Plan
201
East Fourth Street, Suite 1900
Cincinnati,
OH 45202
First
Financial Bancorp
201 East
Fourth Street, Suite 1900
Cincinnati,
OH 45202
Financial
Statements and Supplemental Schedules
First
Financial Bancorp 401(k) Savings Plan
Years
ended December 31, 2009 and 2008
with
Report of Independent Registered Public Accounting Firm
First
Financial Bancorp 401(k) Savings Plan
Financial
Statements and Supplemental Schedules
Years
Ended December 31, 2009 and 2008
Contents
The Audit
Committee of the Board of Directors
First
Financial Bancorp
We have
audited the accompanying statements of net assets available for benefits of the
First Financial Bancorp 401(k) Savings Plan (the “Plan”) as of December 31, 2009
and 2008, and the related statements of changes in net assets available for
benefits for the years then ended. These financial statements are the
responsibility of the Plan's management. Our responsibility is to express
an opinion on these financial statements based on our audits.
We
conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audits to obtain reasonable assurance about whether the
financial statements are free of material misstatement. We were not engaged to
perform an audit of the Plan's internal control over financial reporting. Our
audits included consideration of internal control over financial reporting as a
basis for designing audit procedures that are appropriate in the circumstances,
but not for the purpose of expressing an opinion on the
effectiveness of the Plan's internal control over financial reporting.
Accordingly, we express no such opinion. An audit also includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management, and evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our
opinion.
In our
opinion, the financial statements referred to above present fairly, in all
material respects, the net assets available for benefits of the Plan at December
31, 2009 and 2008, and the changes in its net assets available for benefits for
the years then ended, in conformity with US generally accepted accounting
principles.
Our
audits were performed for the purpose of forming an opinion on the financial
statements taken as a whole. The accompanying supplemental schedules of assets
(held at end of year) as of December 31, 2009, and reportable transactions for
the year then ended, are presented for purposes of additional analysis and are
not a required part of the financial statements but are supplementary
information required by the Department of Labor’s Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. These supplemental schedules are the responsibility of the Plan’s
management. The supplemental schedules have been subjected to the auditing
procedures applied in our audits of the financial statements and, in our
opinion, are fairly stated in all material respects in relation to the financial
statements taken as a whole.
Cincinnati,
Ohio
June 28,
2010
First
Financial Bancorp 401(k) Savings Plan
|
|
December 31,
|
|
|
|
2009
|
|
|
2008
|
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
Investments-at
fair value:
|
|
|
|
|
|
|
First
Financial Bancorp common stock
|
|
$ |
11,892,824 |
|
|
$ |
10,072,970 |
|
Common
collective trust
|
|
|
6,629,725 |
|
|
|
7,121,652 |
|
Mutual
funds
|
|
|
20,738,989 |
|
|
|
14,048,896 |
|
|
|
|
|
|
|
|
|
|
Total
investments
|
|
|
39,261,538 |
|
|
|
31,243,518 |
|
|
|
|
|
|
|
|
|
|
Receivables:
|
|
|
|
|
|
|
|
|
Interest
and dividends
|
|
|
20,601 |
|
|
|
21,592 |
|
Employer
|
|
|
- |
|
|
|
508 |
|
|
|
|
|
|
|
|
|
|
Total
assets
|
|
|
39,282,139 |
|
|
|
31,265,618 |
|
|
|
|
|
|
|
|
|
|
Net
assets reflecting investments at fair value
|
|
|
39,282,139 |
|
|
|
31,265,618 |
|
|
|
|
|
|
|
|
|
|
Adjustment
from fair value to contract value for fully benefit-responsive investment
contract
|
|
|
(175,904 |
) |
|
|
(21,458 |
) |
|
|
|
|
|
|
|
|
|
Net
assets available for benefits
|
|
$ |
39,106,235 |
|
|
$ |
31,244,160 |
|
See
accompanying notes.
First
Financial Bancorp 401(k) Savings Plan
|
|
Year Ended December 31,
|
|
|
|
2009
|
|
|
2008
|
|
|
|
|
|
|
|
|
Additions
to (deductions from) net assets attributed to:
|
|
|
|
|
|
|
Investment
income (loss):
|
|
|
|
|
|
|
Net
appreciation (depreciation) in fair value of investments
|
|
$ |
5,153,139 |
|
|
$ |
(10,134,044 |
) |
Interest
|
|
|
197,275 |
|
|
|
161,765 |
|
Dividends
|
|
|
814,015 |
|
|
|
2,532,213 |
|
|
|
|
|
|
|
|
|
|
Total
investment income (loss)
|
|
|
6,164,429 |
|
|
|
(7,440,066 |
) |
|
|
|
|
|
|
|
|
|
Contributions:
|
|
|
|
|
|
|
|
|
Employer
|
|
|
1,775,104 |
|
|
|
1,656,761 |
|
Participants
|
|
|
3,385,472 |
|
|
|
3,228,643 |
|
Rollovers
|
|
|
88,133 |
|
|
|
21,621 |
|
|
|
|
|
|
|
|
|
|
Total
contributions
|
|
|
5,248,709 |
|
|
|
4,907,025 |
|
|
|
|
|
|
|
|
|
|
Benefits
paid to participants
|
|
|
(3,551,063 |
) |
|
|
(4,756,288 |
) |
|
|
|
|
|
|
|
|
|
Net
increase (decrease)
|
|
|
7,862,075 |
|
|
|
(7,289,329 |
) |
Net
assets available for benefits:
|
|
|
|
|
|
|
|
|
Beginning
of year
|
|
|
31,244,160 |
|
|
|
38,533,489 |
|
|
|
|
|
|
|
|
|
|
End
of year
|
|
$ |
39,106,235 |
|
|
$ |
31,244,160 |
|
See
accompanying notes.
First
Financial Bancorp 401(k) Savings Plan
December
31, 2009
1.
Description of the Plan
The
following brief description of the First Financial Bancorp 401(k) Savings Plan
(the Plan) is provided for general information purposes only. Participants
should refer to the summary plan description for more information.
First
Financial Bancorp (the Plan Sponsor) is the sponsor of the plan.
General
The Plan
is a defined-contribution plan, qualified under Section 401 of the Internal
Revenue Code and is subject to the provisions of the Employee Retirement Income
Security Act of 1974 (ERISA). The Plan covers substantially all employees
of the Plan Sponsor and affiliates who are age twenty-one or older. The
Plan is subject to the provisions of Section 401(k) of the Internal Revenue Code
whereby the participants’ discretionary contributions would not be reportable as
compensation for federal and state income tax purposes. The Plan is a
single plan of a controlled group as defined in Code Sections 414(b) and
414(c).
Funding
Employer
contributions to the Plan are equal to 100 percent of the employee’s
contribution up to the first 3% of the participant’s deferrals and 50 percent of
the next 2% of the employee’s contribution up to a maximum employer contribution
of 4%. Employer contributions are initially invested in the Federated
Stock and Bond Fund or as designated during the enrollment by the employee.
Employer contributions made prior to January 1, 2006 were fully vested upon
contribution to the Plan. Employer contributions made after December 31, 2007
for participants with a plan entry date of January 1, 2006 or after will be
fully vested after the participant completes two years of service. As of January
1, 2008, participants are 100% vested under the safe harbor provision.
Although the Plan Sponsor has not expressed any intention to do so, it has the
right under the Plan to discontinue contributions at any time and terminate the
Plan, subject to provisions set forth in ERISA.
Participants
may elect to make contributions to the Plan of up to 50 percent of their
eligible salary on a before-tax basis. Prior to January 1, 1986,
participants were permitted to contribute certain amounts on an after-tax
basis.
First
Financial Bancorp 401(k) Savings Plan
Notes to
Financial Statements (continued)
1.
Description of the Plan (continued)
Participating
Corporations
The terms
of the Plan provide that any corporation that becomes a member of the controlled
group may, with consent of the Plan Sponsor, adopt the Plan for those employees
which the Plan determines shall be eligible.
Benefit
Payments
Participants
may elect an in-service, non-hardship distribution comprised of the
participant’s after-tax contributions and rollover accounts and the earnings on
these accounts.
Active
employees may withdraw before-tax contributions only if the participant can
prove “financial hardship” as defined by the Plan Document. Any
distribution of before-tax funds results in a six month suspension of
participation in the Plan. Earnings on the participant’s before-tax
contributions are not eligible for distribution prior to termination or
retirement.
Benefits
are recorded when paid.
Basis
of Accounting
The
accompanying financial statements have been prepared on the accrual basis of
accounting.
Participants’
Accounts
Each
participant’s account is credited with the participant’s contribution and
allocations of the Company’s contribution and plan earnings. Allocations are
based on participant earnings or account balances, as defined.
Plan
Termination
In the
event of termination, the net assets will be distributed to participants and
beneficiaries in proportion to their respective account
balances.
First
Financial Bancorp 401(k) Savings Plan
Notes to
Financial Statements (continued)
2.
Summary of Significant Accounting Policies
Use
of Estimates
The
preparation of financial statements in conformity with U.S. generally accepted
accounting principles requires management to make estimates and assumptions that
affect the amounts reported in the financial statements and accompanying notes.
Actual results could differ from those estimates.
Valuation
of Investments
Investments
are individual mutual funds held with Federated Retirement Plan Services and a
separate trust account at First Financial Bank (the Bank), National Association,
a wholly-owned subsidiary of the Plan Sponsor, to hold the First Financial
Bancorp Common Stock Fund investment option for the Plan. Investments are
stated at fair values based on quoted closing net asset values obtained by
Federated Retirement Plan Services from published market data. Security
transactions are recorded on the trade date.
The
Federated Capital Preservation Fund invests in fully benefit-responsive
investment contracts through a common collective trust. This fund is
recorded at fair value (see Note 4); however, since these contracts are fully
benefit-responsive, an adjustment is reflected in the statements of net assets
available for benefits to present these investments at contract value.
Contract value is the relevant measurement attributable to fully
benefit-responsive investment contracts because contract value is the amount
participants would receive if they were to initiate permitted transactions under
the terms of the Plan. The contract value represents contributions plus
earnings, less participant withdrawals and administrative expenses.
New
Accounting Pronouncements
In April
2009, the Financial Accounting Standards Board (FASB) issued FASB Staff Position
157-4, Determining Fair Value
When the Volume and Level of Activity for the Asset or Liability Have
Significantly Decreased and Identifying Transactions That Are Not Orderly
(FSP 157-4). FSP 157-4 amended FASB Statement No. 157 (codified as ASC
820) to provide additional guidance on estimating fair value when the volume and
level of activity for an asset or liability have significantly decreased in
relation to its normal market activity. FSP 157-4 also provided additional
guidance on circumstances that may indicate that a transaction is not orderly
and on defining major categories of debt and equity securities to comply with
the disclosure requirements of FASB ASC Topic 820. The Plan adopted the
guidance in FSP 157-4 for the reporting period ended December 31, 2009.
Adoption of FSP 157-4 did not have a material effect on the Plan’s net assets
available for benefits or its changes in net assets available for
benefits.
First
Financial Bancorp 401(k) Savings Plan
Notes to
Financial Statements (continued)
2.
Summary of Significant Accounting Policies (continued)
In May
2009, the FASB issued FASB Statement No. 165, Subsequent Events, which was
codified into FASB ASC Topic 855, Subsequent Events, to provide
general standards of accounting for and disclosure of events that occur after
the balance sheet date, but before financial statements are issued or are
available to be issued. FASB ASC Topic 855 was amended in February
2010. The Plan has adopted FASB ASC Topic 855, as amended.
In
January 2010, the FASB issued Accounting Standards Update 2010-6, Improving Disclosures about Fair
Value Measurements, (ASU 2010-6). ASU 2010-6 amended ASC 820 to
clarify certain existing fair disclosures and require a number of additional
disclosures. The guidance in ASU 2010-6 clarified that disclosures should
be presented separately for each “class” of assets and liabilities measured at
fair value and provided guidance on how to determine the appropriate classes of
assets and liabilities to be presented. ASU 2010-6 also clarified the
requirement for entities to disclose information about both valuation techniques
and inputs used in estimating Level 2 and Level 3 fair value measurements.
In addition, ASU 2010-6 introduced new requirements to disclose the amounts (on
a gross basis) and reasons for any significant transfers between Levels 1, 2 and
3 of the fair value hierarchy and present information regarding the purchases,
sales, issuances, and settlements of Level 3 assets and liabilities on a gross
basis. With the exception of the requirement to present changes in Level 3
measurements on a gross basis, which is delayed until 2011, the guidance in ASU
2010-6 becomes effective for reporting periods beginning after December 15,
2009. Plan management is currently evaluating the effect that the
provisions of ASU 2010-6 will have on the Plan’s financial
statements.
3.
Investments
The fair
value of individual investments that represent five percent or more of the
Plan’s net assets are as follows:
|
|
December
31
|
|
|
|
2009
|
|
|
2008
|
|
First
Financial Bancorp common stock
|
|
$ |
11,892,824 |
|
|
$ |
10,072,970 |
|
Federated
Capital Preservation Fund
|
|
|
6,629,725 |
|
|
|
5,344,449 |
|
Federated
Max-Cap Index Fund SS
|
|
|
4,268,137 |
|
|
|
3,341,723 |
|
American
Funds EuroPacific Growth Fund (R3)
|
|
|
3,217,481 |
|
|
|
2,347,555 |
|
Federated
Kaufmann Small Cap Fund (A)
|
|
|
2,905,592 |
|
|
|
2,165,027 |
|
Federated
Total Return Bond Fund (A)
|
|
|
2,237,266 |
|
|
|
N/A |
|
Lord
Abbett Fundamental Equity (R3)
|
|
|
2,224,703 |
|
|
|
N/A |
|
Federated
Stock and Bond Fund, Inc. (A)
|
|
|
2,155,781 |
|
|
|
N/A |
|
First
Funds Caliber Equity Fund (A)
|
|
|
− |
|
|
|
2,376,560 |
|
Legacy
Balanced Fund
|
|
|
− |
|
|
|
1,777,203 |
|
First
Funds Sterling Income Fund (A)
|
|
|
− |
|
|
|
1,639,585 |
|
First
Financial Bancorp 401(k) Savings Plan
Notes to
Financial Statements (continued)
3.
Investments (continued)
The
Plan’s investments (including investments purchased, sold, and held during the
year) appreciated (depreciated) in carrying value as follows:
|
|
December 31
|
|
|
|
2009
|
|
|
2008
|
|
First
Financial Bancorp common stock
|
|
$ |
1,797,809 |
|
|
$ |
875,951 |
|
Equity
and fixed income mutual funds
|
|
|
3,355,330 |
|
|
|
(10,477,399 |
) |
Common
collective trust
|
|
|
− |
|
|
|
(532,596 |
) |
Net
appreciation (depreciation)
|
|
$ |
5,153,139 |
|
|
$ |
(10,134,044 |
) |
4.
Fair Value Measurements
FASB ASC
Topic 820-10 establishes a framework for measuring fair value. That
framework provides a fair value hierarchy that prioritizes the inputs to
valuation techniques used to measure fair value. The hierarchy gives the
highest priority to unadjusted quoted prices in active markets for identical
assets or liabilities (level 1 measurements) and the lowest priority to
unobservable inputs (level 3 measurements). The three levels of the fair
value hierarchy are described below:
|
Level
1
|
Inputs
to the valuation methodology are unadjusted quoted prices for identical
assets or liabilities in active markets that the Plan has the ability to
access.
|
|
Level
2
|
Inputs
to the valuation methodology
include:
|
|
·
|
Quoted
prices for similar assets or liabilities in active
markets;
|
|
·
|
Quoted
prices for identical or similar assets or liabilities in inactive
markets;
|
|
·
|
Inputs
other than quoted prices that are observable for the asset or
liability;
|
|
·
|
Inputs
that are derived principally from or corroborated by observable market
data by correlation or other means.
|
If the
asset or liability has a specified (contractual) term, the Level 2 input must be
observable for substantially the full term of the asset or
liability.
|
Level
3
|
Inputs
to the valuation methodology are unobservable and significant to the fair
value measurement.
|
First
Financial Bancorp 401(k) Savings Plan
Notes to
Financial Statements (continued)
4.
Fair Value Measurements (continued)
The
asset’s or liability’s fair value measurement level within the fair value
hierarchy is based on the lowest level of any input that is significant to the
fair value measurement. Valuation techniques used need to maximize the use
of observable inputs and minimize the use of unobservable inputs.
The
following tables set forth by level, within the fair value hierarchy, the Plan’s
assets at fair value as of December 31, 2009 and December 31, 2008,
respectively.
|
|
Assets at Fair Value as of December 31,
2009
|
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common
stocks
(a)
|
|
$ |
11,892,824 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
11,892,824 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common
collective trust
(b)
|
|
|
- |
|
|
|
6,629,725 |
|
|
|
- |
|
|
|
6,629,725 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mutual
funds (c)
|
|
|
20,738,989 |
|
|
|
- |
|
|
|
- |
|
|
|
20,738,989 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets at fair value
|
|
$ |
32,631,813 |
|
|
$ |
6,629,725 |
|
|
$ |
- |
|
|
$ |
39,261,538 |
|
|
|
Assets at Fair Value as of December 31,
2008
|
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common
stocks (a)
|
|
$ |
10,072,970 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
10,072,970 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common
collective trust (b)
|
|
|
- |
|
|
|
7,121,652 |
|
|
|
- |
|
|
|
7,121,652 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mutual
funds (c)
|
|
|
14,048,896 |
|
|
|
- |
|
|
|
- |
|
|
|
14,048,896 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets at fair value
|
|
$ |
24,121,866 |
|
|
$ |
7,121,652 |
|
|
$ |
- |
|
|
$ |
31,243,518 |
|
First
Financial Bancorp 401(k) Savings Plan
Notes to
Financial Statements (continued)
4.
Fair Value Measurements (continued)
|
a.
|
This
category includes investments valued at the closing price reported on the
active market on which the individual securities are
traded.
|
|
b.
|
This
category includes a common collective trust fund that is designed to
deliver safety and stability by preserving principal and accumulating
earnings. This fund is primarily invested in guaranteed investment
contracts and synthetic investment contracts. Participant-directed
redemptions have no restrictions; however, the Plan is required to provide
a one year redemption notice to liquidate its entire share in the
fund. The fair value of this fund has been estimated based on the
fair value of the underlying investment contracts in the fund as reported
by the issuer of the fund. The fair value differs from the contract
value. As previously discussed in Note 2, contract value is the
relevant measurement attributable to fully benefit-responsive investment
contracts because contract value is the amount participants would receive
if they were to initiate permitted transactions under the terms of the
Plan.
|
|
c.
|
This
category includes mutual funds and money market funds that are valued at
the net asset value (NAV) of shares held by the Plan at
year-end.
|
5.
Income Tax Status
The Plan
has received a determination letter from the Internal Revenue Service dated June
4, 2008, stating that the Plan is qualified under section 401(a) of the Internal
Revenue Code (the “Code”) and, therefore, the related trust is exempt from
taxation. Subsequent to issuance of the determination letter, the Plan was
amended. Once qualified, the Plan is required to operate in conformity with the
Code to maintain its qualification. The Plan Administrator believes the
Plan is being operated in compliance with the applicable requirements of the
Code and therefore believes the Plan is qualified and the related trust is
tax-exempt.
6.
Transactions with Parties-in-Interest
Administrative
and other service fees are paid by the Plan Sponsor. The Plan is not
charged for administrative services performed on its behalf by First Financial
Bancorp.
The Plan
invested in the First Funds Sterling Income Fund, the First Funds Caliber Equity
Fund, and the Legacy Balanced Fund sponsored by an affiliate of the Plan Sponsor
in 2008 and through December of 2009. In December of 2009 those funds were
liquidated and closed. The investment alternatives made available were the
Federated Total Return Bond Fund, the Lord Abbett Fundamental Equity Fund, and
the Janus Balanced Fund.
First
Financial Bancorp 401(k) Savings Plan
Notes to
Financial Statements (continued)
6.
Transactions with Parties-in-Interest (continued)
The Plan
invests in common stock of the Plan Sponsor.
The Bank,
an affiliate of the Plan Sponsor, is the Plan Trustee.
7.
Reconciliation of Financial Statements to Form 5500
The
following is a reconciliation of the net increase (decrease) in net assets
available for benefits per the financial statements to the Form
5500:
|
|
Year Ended
|
|
|
Year Ended
|
|
|
|
December 31,
2009
|
|
|
December 31,
2008
|
|
|
|
|
|
|
|
|
Net
increase (decrease) in net assets available for benefits per the financial
statements
|
|
$ |
7,862,075 |
|
|
$ |
(7,289,329 |
) |
|
|
|
|
|
|
|
|
|
Adjustment
from fair value to contract value for fully benefit-responsive investment
contracts
|
|
|
154,446 |
|
|
|
381 |
|
|
|
|
|
|
|
|
|
|
Net
income (loss) per the Form 5500
|
|
$ |
8,016,521 |
|
|
$ |
(7,288,948 |
) |
8.
Risks and Uncertainties
The Plan
invests in various investment securities. Investment securities are
exposed to various risks such as interest rate, market volatility, and credit
risks. Due to the level of risk associated with certain investment
securities, it is at least reasonably possible that changes in the values of
investment securities will occur in the near term and that such changes could
materially affect participants’ account balances and the amounts reported in the
statements of net assets available for benefits.
First
Financial Bancorp 401(k) Savings Plan
EIN
31-1042001/Plan 002
December
31, 2009
|
|
Number of Shares or
|
|
|
|
|
Current
|
|
Identity of Issue/Description of Asset
|
|
Principal Amount
|
|
Cost
|
|
|
Value
|
|
|
|
|
|
|
|
|
|
|
First
Financial Bancorp common stock*
|
|
817,782
shares
|
|
$ |
12,294,819 |
|
|
$ |
11,892,824 |
|
|
|
|
|
|
|
|
|
|
|
|
Federated
Capital Preservation Fund
|
|
645,382
shares
|
|
|
N/A |
|
|
|
6,629,725 |
|
|
|
|
|
|
|
|
|
|
|
|
Federated
Max-Cap Index Fund SS
|
|
355,678
shares
|
|
|
N/A |
|
|
|
4,268,137 |
|
|
|
|
|
|
|
|
|
|
|
|
American
Funds EuroPacific Growth Fund (R3)
|
|
85,390
shares
|
|
|
N/A |
|
|
|
3,217,481 |
|
|
|
|
|
|
|
|
|
|
|
|
Federated
Kaufmann Small Cap Fund (A)
|
|
146,010
shares
|
|
|
N/A |
|
|
|
2,905,592 |
|
|
|
|
|
|
|
|
|
|
|
|
Federated
Total Return Bond Fund (A)
|
|
205,820
shares
|
|
|
N/A |
|
|
|
2,237,266 |
|
|
|
|
|
|
|
|
|
|
|
|
Lord
Abbett Fundamental Equity (R3)
|
|
205,991
shares
|
|
|
N/A |
|
|
|
2,224,703 |
|
|
|
|
|
|
|
|
|
|
|
|
Federated
Stock and Bond Fund, Inc. (A)
|
|
135,074
shares
|
|
|
N/A |
|
|
|
2,155,781 |
|
|
|
|
|
|
|
|
|
|
|
|
Janus
Balanced Fund
|
|
77,030
shares
|
|
|
N/A |
|
|
|
1,891,089 |
|
|
|
|
|
|
|
|
|
|
|
|
Federated
International Small Company Fund (A)
|
|
27,896
shares
|
|
|
N/A |
|
|
|
895,176 |
|
|
|
|
|
|
|
|
|
|
|
|
Federated
Mid Cap Index IS
|
|
30,210
shares
|
|
|
N/A |
|
|
|
532,602 |
|
|
|
|
|
|
|
|
|
|
|
|
American
Century Real Estate Fund (A)
|
|
28,453
shares
|
|
|
N/A |
|
|
|
411,149 |
|
|
|
|
|
|
|
|
|
|
|
|
Federated
Prime Value Obligation
|
|
|
|
|
|
|
|
|
|
|
Money
Market Fund
|
|
13
shares
|
|
|
13 |
|
|
|
13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
39,261,538 |
|
*
Represents a party-in-interest to the Plan
N/A-Information
is not required since these are participant directed
investments
First
Financial Bancorp 401(k) Savings Plan
EIN
31-1042001/Plan 002
For the
year ended December 31, 2009
|
|
|
|
|
|
|
|
Expenses
|
|
|
|
|
|
Current
|
|
|
|
|
|
|
|
|
|
|
|
|
Incurred
|
|
|
|
|
|
Value of
|
|
|
Net
|
|
|
|
Purchase
|
|
|
Selling
|
|
|
with
|
|
|
Cost of
|
|
|
Asset on
|
|
|
Gain
|
|
Identity of Issue/Description of Asset
|
|
Price
|
|
|
Price
|
|
|
Transaction
|
|
|
Asset
|
|
|
Valuation Date
|
|
|
(Loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Category (i)—Transactions in excess of 5 percent
of plan assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federated
Total Return Bond Fund
|
|
$ |
2,236,205 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
2,236,205 |
|
|
$ |
2,236,205 |
|
|
$ |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lord
Abbett Fundamental Equity (R3)
|
|
|
2,174,621 |
|
|
|
- |
|
|
|
- |
|
|
|
2,174,621 |
|
|
|
2,174,621 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Janus
Balanced Fund
|
|
|
1,845,708 |
|
|
|
- |
|
|
|
- |
|
|
|
1,845,708 |
|
|
|
1,845,708 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First
Sterling Income Fund*
|
|
|
- |
|
|
|
2,235,230 |
|
|
|
- |
|
|
|
2,138,451 |
|
|
|
2,235,230 |
|
|
|
96,779 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First
Caliber Equity Fund*
|
|
|
- |
|
|
|
2,176,659 |
|
|
|
- |
|
|
|
4,172,732 |
|
|
|
2,176,659 |
|
|
|
(1,996,073 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legacy
Balanced Fund*
|
|
|
- |
|
|
|
1,858,916 |
|
|
|
- |
|
|
|
1,913,909 |
|
|
|
1,858,916 |
|
|
|
(54,993 |
) |
*
Represents a party-in-interest to the Plan
First
Financial Bancorp 401(k) Savings Plan
EIN
31-1042001/Plan 002
Schedule
H, Line 4 j - Schedule of Reportable Transactions
For the
year ended December 31, 2009
|
|
|
|
|
|
|
|
Expenses
|
|
|
|
|
|
Current
|
|
|
|
|
|
|
|
|
|
|
|
|
Incurred
|
|
|
|
|
|
Value of
|
|
|
Net
|
|
|
|
Purchase
|
|
|
Selling
|
|
|
with
|
|
|
Cost of
|
|
|
Asset on
|
|
|
Gain
|
|
Identity of Issue/Description of Asset
|
|
Price
|
|
|
Price
|
|
|
Transaction
|
|
|
Asset
|
|
|
Valuation Date
|
|
|
(Loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Category (iii)—series of transactions in excess of
5 percent of plan assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federated
Capital Preservation Fund
|
|
$ |
3,108,205 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
3,108,205 |
|
|
$ |
3,108,205 |
|
|
$ |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federated
Total Return Bond Fund
|
|
|
2,259,939 |
|
|
|
- |
|
|
|
- |
|
|
|
2,259,939 |
|
|
|
2,259,939 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lord
Abbett Fundamental Equity (R3)
|
|
|
2,188,196 |
|
|
|
- |
|
|
|
- |
|
|
|
2,188,196 |
|
|
|
2,188,196 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Janus
Balanced Fund
|
|
|
1,878,608 |
|
|
|
- |
|
|
|
- |
|
|
|
1,878,608 |
|
|
|
1,878,608 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federated
Stock & Bond Fund
|
|
|
1,587,695 |
|
|
|
- |
|
|
|
- |
|
|
|
1,587,695 |
|
|
|
1,587,695 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federated
Capital Preservation Fund
|
|
|
|
|
|
|
1,959,272 |
|
|
|
- |
|
|
|
1,794,359 |
|
|
|
1,959,272 |
|
|
|
164,913 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First
Caliber Equity Fund*
|
|
|
- |
|
|
|
2,937,276 |
|
|
|
- |
|
|
|
5,777,281 |
|
|
|
2,937,276 |
|
|
|
(2,840,005 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First
Sterling Income Fund*
|
|
|
- |
|
|
|
2,512,287 |
|
|
|
- |
|
|
|
2,406,584 |
|
|
|
2,512,287 |
|
|
|
105,703 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legacy
Balanced Fund*
|
|
|
- |
|
|
|
2,368,913 |
|
|
|
- |
|
|
|
2,492,864 |
|
|
|
2,368,913 |
|
|
|
(123,951 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First
Financial Bancorp common stock*
|
|
|
- |
|
|
|
1,402,241 |
|
|
|
- |
|
|
|
2,073,555 |
|
|
|
1,402,241 |
|
|
|
(671,314 |
) |
*
Represents a party-in-interest to the Plan
There
were no category (ii) or (iv) reportable transactions during
2009.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Plan
Administrator has caused this annual report to be signed by the undersigned
thereunto duly authorized.
|
|
|
FIRST
FINANCIAL BANCORP
|
|
|
|
401(K)
SAVINGS PLAN
|
|
|
|
|
|
Date:
|
June 28, 2010
|
|
By:
|
/s/ Jennifer
Quehl-Gessendorf
|
|
|
|
|
Jennifer
Quehl-Gessendorf
|
|
|
|
|
Vice
President
|
|
|
|
|
Human
Resources
|
|
|
|
|
|
|
|
|
|
/s/
J. Franklin Hall
|
|
|
|
|
J.
Franklin Hall
|
|
|
|
|
Executive
Vice President and
Chief
Financial
Officer
|