By Jeff McKinney
Enquirer staff writer

HAMILTON - First Financial Bancorp said Tuesday second-quarter profits were basically flat as the company continues its hunt for a president and chief executive.

The parent of First Financial Bank earned $10.3 million, or 24 cents a share, versus $10.6 million, 24 cents a share, in the same period last year.

"While we continue to work diligently to sign on a new chief executive officer, we remain focused on moving the company forward," Bruce Leep, First Financial's chairman, said in a statement.

The quarterly results for First Financial, Greater Cincinnati's fifth-largest bank, comes a month after the company said it was extending its search for a new leader. Stanley Pontius stepped down as First Financial's president and CEO in October.

Doug Lefferson, First Financial chief financial officer, said the bank is in talks with job candidates, but cannot give a timeframe for filling the position.

The quarterly results showed some progress for the $3.9 billion banking company. Its shares have been buffeted in recent months by pressure from industry analysts to boost profits.

First Financial earnings per share of 24 cents beat the consensus estimate of 23 cents by Wall Street banking analysts. The stock closed Tuesday at $17.78, up 53 cents.

First Financial said its second-quarter profits were primarily helped by fewer losses on loans.

The bank set aside $2.2 million to cover potential problem loans, down from $3.9 million in last year's second quarter. And the amount it wrote off was $2.1 million, down from $3.4 million in 2003's second quarter.

U.S. Bancorp earnings jump

In other earnings news, U.S. Bancorp, based in Minneapolis, said Tuesday that it had record second-quarter profits of $1.04 billion, or 54 cents a share, up from $919.9 million, or 48 cent share, in the same year-ago period.

The higher profits primarily came as the nation's sixth-largest banking company had gains in fee income from its consumer-banking operations and payment systems business. U.S. Bancorp's share earnings of 54 cents beat the consensus estimate of 53 cents by Wall Street banking analysts. U.S. Bancorp closed at $28.17, up 21 cents.

U.S. Bancorp is parent of U.S. Bank, which operates about 115 branches in Greater Cincinnati.

E-mail jmckinney@enquirer.com