First Financial completes $2.2bn acquisition of Westfield Bancorp

Core Insights - First Financial Bancorp has successfully completed the acquisition of Westfield Bancorp and its subsidiary, Westfield Bank, in a deal valued at $325 million [1][5] - The acquisition enhances First Financial's total assets to $20.6 billion, thereby strengthening its presence in the Midwest region of the US [1][4] Expansion of Services - The acquisition is expected to expand First Financial's commercial banking and wealth management services in Northeast Ohio [2] - Westfield Bank's retail locations will operate under First Financial's network, retaining their branding until the conversion process is completed in March 2026 [2][3] Client Services and Integration - Westfield Bank clients will continue to receive services through existing channels, with information regarding account conversions to be provided in the coming months [3] - The integration will merge the products, processes, and operating systems of both banks [2] Leadership Perspective - First Financial's president and CEO, Archie Brown, expressed that the acquisition opens new possibilities for growth and profitability in an attractive market [3][4] - The company aims to offer a wider range of solutions in consumer, commercial, specialty lending, and wealth management to new clients while expanding its geographic footprint [4] Recent Expansion Activities - The acquisition follows First Financial's recent expansion efforts in the Midwest, including establishing a commercial lending presence in Northeast Ohio and acquiring BankFinancial in Chicago [4][5]