First Financial Bank Acquires BankFinancial in $142m All-Stock Deal

First Financial Bank to acquire BankFinancial for $142m in an all-stock transaction, expanding operations in the Chicagoland area. BankFinancial's consumer and wealth management services, along with selected commercial credit lines, will be integrated into First Financial's existing operations. All employees of BankFinancial will transition to First Financial. The transaction is anticipated to close in Q4 2025, pending regulatory approvals and shareholder consent.

First Financial Bancorp (FFBC) has agreed to acquire BankFinancial Corporation (BFIN) in an all-stock transaction valued at approximately $142 million. The acquisition aims to strategically expand First Financial's presence in the Chicago market and enhance its commercial banking capabilities. The deal is expected to close in the fourth quarter of 2025, subject to regulatory approvals and shareholder consent [1].

The acquisition includes 18 retail locations from BankFinancial, which will be integrated into First Financial's existing operations. BankFinancial's consumer and wealth management services, along with selected commercial credit lines, will be incorporated into First Financial's respective business lines. All BankFinancial bank employees will transition to First Financial upon closing [1].

Archie Brown, president and chief executive officer of First Financial, expressed excitement about the acquisition, stating, "We are excited to add consumer banking and lending solutions to the existing lineup of commercial services offered to Chicago businesses. The addition of BankFinancial's retail financial centers enables us to continue our Midwest growth strategy and provides Chicago clients a broader range of banking and specialty solutions to help them meet their financial goals" [1].

Morgan Gasior, chairman, president, and chief executive officer of BankFinancial, echoed similar sentiments, "First Financial is the ideal choice to help us continue our legacy of delivering exceptional financial solutions, while maintaining a strong commitment to customer care and service to our communities" [1].

This acquisition follows First Financial's recent growth period, including the announced agreement to acquire Westfield Bank in Northeast Ohio. The acquisition is expected to be accretive to First Financial's earnings per share and tangible book value per share, with the transaction valuation based on First Financial's closing stock price on August 8, 2025 [1].

References:
[1] https://www.prnewswire.com/news-releases/first-financial-bank-to-strategically-expand-presence-in-chicago-with-the-complementary-acquisition-of-bankfinancial-302526801.html