First Financial Bancorp. (NASDAQ:FFBC) Q4 2022 Earnings Call Transcript

We just think that trend continues as we go into the quarter. Some of that and some of that’s also been trading out into higher rate products. But I’d say the big difference is probably the business surge in Q4, that’s somewhat seasonal starts to bleed back out along with the public funds, seasonal part bleeds back out.

Jon Arfstrom: Okay, all right. And just one more on Bannockburn, you’ve answered a lot of questions on it, but why do you think they’ve been able to double under your ownership? What has allowed them to do that?

Archie Brown: Well, when they were independent, it is more difficult. It was more difficult when they were independent not having kind of the, if you will, just the wherewithal, the capacity of a bank behind them. And I think Mark Immelt who runs it always thought that to be able to get back with a bank in time and that’s what we were able to do and that having the bank capability, we can provide other services to clients, lines of credit, things like that, that didn’t give us opportunities to get into the FX. He didn’t have those other ancillary things that he could offer as an independent. So I’d say that’s probably the single biggest thing, just again we’ve got the size, we’ve got the balance sheet, we’ve got everything that allows him to grow and then offer more to clients that then gives him opportunities.

Plus we’ve been able — we’ve not done say a great job of penetrating our own middle market book yet. We’ve made some headway, but we have a couple bankers assigned and working with the Bannockburn clients around the country, and they’ve been able to uncover more opportunities as well and they’re just really good at what they do.

James Anderson: Yes. I mean, the other thing, Jon, this is Jamie, I mean, the acquisition also gives them the opportunity to focus primarily on sales as opposed to having to run an independent company.

Jon Arfstrom: Okay. That’s a good story. Thank you.

Operator: Thank you, Jon. We have no more further question on the line. I will now hand the floor back to Archie to make closing remarks.

Archie Brown: Thank you, Glenn. I want to thank everyone for joining us on today’s call and hearing more about our great Q4 in 2022. We look forward to talking to you again at the end of the first quarter. Have a great day. Bye now.

Operator: Thank you, ladies and gentlemen. This concludes today’s call. Thank you for joining. You may now disconnect your lines.