Business
First Financial Bancorp and Westfield Jointly Announce First Financial's Acquisition of Westfield Bancorp
First Financial Bancorp ("First Financial") has agreed to acquire Westfield Bancorp, which has $2.2 billion in assets, the holding company of Westfield Bank,
About this update from First Financial Bancorp.
[{"type":"text","content":"First Financial Bancorp (\"First Financial\") has agreed to acquire Westfield Bancorp, which has $2.2 billion in assets, the holding company of Westfield Bank, FSB. This expands First Financial's ability to serve the geographically attractive communities of Northeast Ohio.The acquisition will grow First Financial to a $20.6 billion Midwest-based institution, with a broad suite of capabilities for retail and business clients and a focus on community.All Westfield Bank retail locations will remain open and will be rebranded as First Financial Bank locations after closing of the transaction.CINCINNATI, June 23, 2025 /PRNewswire/ -- First Financial (Nasdaq: FFBC) announced today that it has entered into a definitive agreement to acquire Westfield Bancorp, in a cash and stock transaction, from Ohio Farmers Insurance Company (\"Ohio Farmers\"). Ohio Farmers is the parent company of the global property and casualty (P&C) insurance group conducting business as Westfield.\n\n \n \n \n \n \n \n\n \nThe acquisition builds on First Financial's existing commercial banking and wealth management presence in Northeast Ohio by adding all of Westfield Bank's retail banking locations and its commercial, insurance agency, and private banking services. Additionally, First Financial's larger balance sheet will provide expanded credit capacity for Westfield Bank clients and additional growth opportunities for Westfield Bank employees. \n\"We are excited to welcome Westfield Bank and to accelerate our growth in Northeast Ohio,\" said Archie Brown, president and CEO of First Financial. \"This targeted expansion of our commercial, consumer, and specialty banking businesses broadens our ability to serve additional clients, and it opens up new avenues for growth and profitability in an attractive geographical area. We are excited about the commercial banking focus of Westfield Bank as well as the complementary nature of Westfield Bank's specialty lending businesses, which will build upon our existing strengths. Both teams share a community-first approach, while emphasizing a positive workplace culture, which is an excellent foundation for us as we expand our banking solutions to serve more communities. To demonstrate our commitment to Northeast Ohio, First Financial has committed to donate $500,000 to its Foundation for the benefit of local organizations i...