First Financial Bank to Strategically Expand Presence in Chicago with the Complementary Acquisition of BankFinancial

Core Viewpoint - First Financial Bancorp has announced an agreement to acquire BankFinancial in an all-stock transaction, enhancing its presence in the Chicago market and expanding its core deposit franchise [1][7]. Company Overview - First Financial Bancorp, based in Cincinnati, Ohio, has $18.6 billion in assets, $11.8 billion in loans, and $14.4 billion in deposits as of June 30, 2025 [8]. - BankFinancial, with over 100 years of experience in commercial lending, operates 18 full-service banking offices in the greater Chicago area [9]. Transaction Details - The acquisition will convert each outstanding share of BankFinancial common stock into 0.48 shares of First Financial common stock, valuing the transaction at approximately $142 million based on First Financial's stock price on August 8, 2025 [4]. - The transaction is expected to close in the fourth quarter of 2025, pending regulatory approvals and BankFinancial shareholders' approval [5]. Strategic Rationale - The acquisition will allow First Financial to add consumer banking and lending solutions to its existing commercial services, supporting its Midwest growth strategy [2]. - The addition of BankFinancial's 18 retail locations will complement First Financial's existing operations in the Chicago area, which includes a commercial loan production office and other financial services [3][7]. Employee Integration - All BankFinancial employees will transition to become associates of First Financial upon the completion of the transaction [4][7].