First Financial Bancorp Targets Chicago Growth in $208 Million Acquisition

With a $208 million all-stock agreement, Cincinnati-based First Financial Bancorp is set to absorb Finward Bancorp, aiming to cement a deeper footprint across northwest Indiana and the Chicago metropolitan area. The deal, which exchanges each Finward share for 1.35 First Financial shares, marks a significant consolidation play for the regional lender.

Today, 00:18· Money Talk· 776 reads

First Financial Bancorp Targets Chicago Growth in $208 Million Acquisition

The merger adds 24 financial centers to First Financial’s network, pulling in Finward’s $2 billion in assets and $1.7 billion in deposits. This move follows the bank’s January purchase of BankFinancial Corp., a strategy that will boost First Financial’s pro forma deposits in the Chicago market by 75% to over $4 billion.

Finward’s existing consumer, commercial, and wealth-management operations will fold into First Financial, with Peoples Bank employees transitioning to the parent company. First Financial projects the deal will be 5% accretive to earnings per share, with a rapid 0.6-year earnback period for tangible book value dilution. Pending regulatory nods and shareholder approval, the transaction is slated to close in the fourth quarter of 2026.

First Financial Bancorp Targets Chicago Growth in $208 Million Acquisition

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