First Financial Bancorp CEO Sells 12,500 Shares Worth $309,875 Amid Acquisition Announcement

First Financial Bancorp (FFBC) announced an acquisition of BankFinancial Corporation, expanding its presence in the Chicago market. The all-stock transaction is valued at approximately $142 million and is expected to close in Q4 2025. Following the announcement, RBC Capital raised its price target for FFBC, citing strong quarterly performance and positive outlook for commercial and industrial lending sectors. FFBC's recent earnings report highlighted record revenue and strong profitability metrics.

First Financial Bancorp (FFBC) has announced its intention to acquire BankFinancial Corporation (BFIN) in an all-stock transaction valued at approximately $142 million. The acquisition aims to strengthen FFBC's footprint in the Chicagoland market and enhance its service offerings. The transaction is expected to close in the fourth quarter of 2025, pending regulatory approvals and shareholder consent [1].

Under the terms of the agreement, BankFinancial shareholders will receive 0.48 shares of First Financial for each share they hold. The boards of directors of both companies have unanimously approved the merger. Upon completion, BankFinancial's consumer and wealth management services, along with selected commercial credit lines, will be integrated into First Financial's existing operations. All BankFinancial employees will transition to First Financial, ensuring continuity in client relationships and community engagement [1].

The acquisition will expand First Financial's presence in the Chicagoland area by adding BankFinancial's 18 financial centers to its network. This added footprint will enhance its market reach and complement its existing branch network across Ohio, Indiana, Kentucky, and Illinois. The transaction aligns with THFF’s broader Midwest growth strategy, which includes its prior agreement to acquire Westfield Bank in Northeast Ohio and its ongoing expansion into Chicago, Cleveland, and Grand Rapids [1].

Following the announcement, RBC Capital raised its price target for FFBC, citing strong quarterly performance and a positive outlook for the commercial and industrial lending sectors. FFBC's recent earnings report highlighted record revenue and strong profitability metrics, further bolstering investor confidence in the company's growth prospects [2].

The acquisition of BankFinancial follows FFBC's recent growth initiatives, including a prior agreement to acquire Westfield Bank in Northeast Ohio. This strategic move underscores FFBC's commitment to expanding its Midwest presence and offering a broader range of banking and specialty solutions to its clients. The transaction is expected to close in the fourth quarter of 2025, pending regulatory approvals and the consent of BankFinancial shareholders [2].

References:
[1] https://www.nasdaq.com/articles/first-financial-acquire-bankfinancial-expands-chicago-presence
[2] https://finance.yahoo.com/news/first-financial-bank-acquire-bankfinancial-111443629.html