Relevant Statistics:

Branches acquired: 16, 12 located within the Dayton, Ohio MSA
Deposits assumed: $346.2 million
Loans purchased: $143.3 million

Background:

First Financial Bancorp, headquartered in Cincinnati, Ohio, is a strong performing Midwestern community-focused bank with solid asset quality and profitability metrics First Financial will expand its banking operations in its core markets through this acquisition. First Financial will acquire $143 million of in-market performing loans and assume approximately $346 million in deposits.

Investment Banking Role:

On June 3, 2011, First Financial Bancorp entered into an agreement to acquire all 16 of the Ohio retail banking branches of Liberty Savings Bank FSB. Raymond James provided strategic advisory services to First Financial with respect to the transaction.

Strategic Rationale:

The acquisition allows First Financial to accelerate its growth objectives in its key strategic market of Dayton, Ohio Based on pro forma deposit market share in the Dayton, Ohio MSA, First Financial will be the largest community-based financial institution headquartered near Dayton A 6.41% net premium will be paid on deposits. First Financial expects the transaction to be accretive to 2012 diluted earnings per share.