Why Gator Capital Put $5.6 Million to Work in a Regional Bank Stock Down 7% This Past Year

A quiet regional bank purchase hints at a longer-term thesis that has less to do with momentum and more to do with patience and balance-sheet math.Gator Capital Management, LLC initiated a new position in First Financial Bancorp (FFBC 0.31%), adding 221,920 shares with an estimated value increase of $5.60 million in the third quarter, according to a November 13 SEC filing.What HappenedAccording to a filing with the Securities and Exchange Commission dated November 13, Gator Capital Management disclosed a ne ...