Shares of First Financial Bancorp (FFBC) plummeted by 5.31% on Thursday after the regional bank reported disappointing third-quarter results, missing revenue estimates and showing weaker profitability metrics.

The Cincinnati-based lender reported a 5% year-over-year drop in top-line revenues to $201 million, missing consensus estimates by $13 million. Net income also declined to $52.5 million, as higher cost of funds weighed on net interest margins.

Loan growth was modest at just 1% annualized, driven by leasing and mortgage origination. However, the bank's return on average assets and return on average equity fell to the lowest levels seen this year, at 1.17% and 8.8% respectively, reflecting the pressure on profitability.

Asset quality showed mixed results, with nonperforming assets rising and the provision for loan losses improving compared to a year ago. Tangible book value per share increased significantly by 30% year-over-year, but shares still trade at a premium to this value.