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

First Financial Bank is acquiring BankFinancial Corporation to expand its presence in the Chicago market. The acquisition adds 18 retail locations and augments its commercial banking presence with additional capabilities. Total pro forma deposits will be $2.2 billion, and all BankFinancial bank employees will become First Financial associates upon closing. The deal complements First Financial's existing commercial banking presence in the Chicagoland market and provides capacity for incremental growth.

First Financial Bancorp ("First Financial") has agreed to acquire Chicago-based BankFinancial Corporation ("BankFinancial") in a strategic move to expand its presence in the robust Chicago market. The acquisition, announced on August 11, 2025, will add 18 retail locations and enhance First Financial's commercial banking capabilities. The total pro forma deposits will reach $2.2 billion, and all BankFinancial bank employees will become First Financial associates upon closing [1].

The acquisition complements First Financial's existing commercial banking presence in the Chicagoland market. "We are excited to add consumer banking and lending solutions to the existing lineup of commercial services offered to Chicago businesses," said Archie Brown, president and chief executive officer of First Financial. The addition of BankFinancial's retail financial centers enables First Financial to continue its Midwest growth strategy and provide Chicago clients with a broader range of banking and specialty solutions [1].

BankFinancial, with over 100 years of expertise in commercial lending, has been a trusted partner for businesses, individuals, and families seeking flexible and competitive financial solutions. Through 18 full-service banking offices located in Cook, DuPage, Lake, and Will Counties in Illinois, BankFinancial delivers comprehensive financial services while also serving select commercial loan, lease, and deposit customers regionally and nationwide [2].

The transaction is expected to be accretive to First Financial's earnings per share and its tangible book value per share at closing is estimated to be approximately unchanged. The merger agreement has been unanimously approved by the boards of directors of First Financial and BankFinancial. The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions, regulatory approvals, and approval of BankFinancial shareholders [1].

Through this addition, First Financial continues its recent period of growth, including the announced agreement to acquire Westfield Bank in Northeast Ohio and its commercial banking expansion into Chicago, Cleveland, and Grand Rapids. First Financial's Midwestern base includes Chicago, IL; Cincinnati, Dayton, Cleveland, and Columbus, OH; Indianapolis, IN; and Louisville, KY [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
[2] https://www.bankfinancial.com