First Financial Bank, Cincinnati, announced two acquisition agreements over the summer.
In June, the bank entered into an agreement to acquire Westfield Bancorp, the holding company of Westfield Bank FSB, Westfield Center, Ohio, in a cash and stock transaction valued at $325 million. Westfield has $2.2 billion in assets, growing First Financial to $20.6 billion. All Westfield locations will remain open, rebranded as First Financial Bank locations. First Financial committed to donating $500,000 to its Foundation for the benefit of local organizations in communities served by Westfield Bank.
In August, First Financial entered into an agreement to acquire BankFinancial, Chicago, in an all-stock transaction valued at $142 million. The acquisition will add 18 retail locations to First Financial’s Illinois & northwest Indiana market presence. Both acquisitions are expected to close by the end of the year.
