First Financial Bancorp. Announces the Completion of its Acquisition of Westfield Bancorp, Inc., and Westfield Bank, FSB

Rhea-AI Summary

First Financial Bancorp (Nasdaq: FFBC) announced it has completed the acquisition of Westfield Bancorp and Westfield Bank in a cash-and-stock transaction from Ohio Farmers Insurance Company, bringing First Financial's total assets to $20.6 billion.

All Westfield retail locations, plus Westfield's commercial, insurance agency banking and private banking services, join First Financial's existing commercial banking and wealth management operations. Westfield Bank will continue to operate under its name until a conversion process expected to complete in March 2026, when products, processes and systems will be consolidated. Clients will receive conversion details and need take no action until then.

Positive

• Assets increased to $20.6 billion after the acquisition
• Expanded retail and commercial footprint in Northeast Ohio and broader Midwest

Negative

• Conversion of systems and products scheduled through March 2026
• Transaction was a cash-and-stock deal (financial structure disclosed)

News Market Reaction

+1.11%

1 alert

+1.11% News Effect

On the day this news was published, FFBC gained 1.11%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

CINCINNATI, Nov. 3, 2025 /PRNewswire/ -- First Financial Bancorp. (Nasdaq: FFBC) ("First Financial") announced today that it has closed its previously announced acquisition of Westfield Bancorp, Inc. ("Westfield") in a cash and stock transaction, from the Ohio Farmers Insurance Company. Westfield is the holding company and sole shareholder of Westfield Bank, FSB ("Westfield Bank"). With the acquisition of Westfield Bank, First Financial now has $20.6 billion in assets, with a strong Midwest foundation and a wide spectrum of solutions for consumers and businesses.

All Westfield Bank retail locations and its commercial, insurance agency banking and private banking services now join First Financial's existing commercial banking and wealth management presence in Northeast Ohio.

"This is an exciting step in the growth of First Financial, as the addition of Westfield Bank opens new possibilities for growth and profitability for us in an attractive market," said Archie Brown, president and CEO of First Financial. "We can now bring our wide range of solutions in consumer, commercial, specialty lending and wealth management to new clients, while expanding our geographic footprint for our current clients. The First Financial team is thrilled to welcome the Westfield Bank team members to the First Financial family."

Westfield Bank locations will continue to operate under the name "Westfield Bank" until the completion of the conversion process, anticipated in March 2026, which will consolidate the two banks' products, processes and operating systems. Westfield Bank clients will receive detailed information about account conversions in the coming months. Until then, Westfield Bank clients do not need to take any action and can continue to obtain services from their existing Westfield Bank channels. First Financial clients will not be impacted by the merger or the conversion. 

This acquisition continues First Financial's recent growth in the Midwest. In 2023, First Financial added a commercial lending presence in Northeast Ohio. Earlier this year, First Financial announced its agreement to acquire BankFinancial Corporation, the holding company of BankFinancial, National Association, in Chicago, Illinois, expanding its existing commercial banking and other capabilities in that market. First Financial also recently added a commercial banking presence in Grand Rapids, Michigan. These growth areas build upon First Financial's Midwestern foundation, which includes Cincinnati, Dayton and Columbus, Ohio; Indianapolis, Indiana; and Louisville, Kentucky.

About First Financial Bancorp.

First Financial Bancorp. is a Cincinnati, Ohio based bank holding company. As of September 30, 2025, the Company had $18.6 billion in assets, $11.7 billion in loans, $14.4 billion in deposits and $2.6 billion in shareholders' equity. The Company's subsidiary, First Financial Bank, founded in 1863, provides banking and financial services products through its six lines of business: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance and Wealth Management. These business units provide traditional banking services to business and retail clients. Wealth Management provides wealth planning, portfolio management, trust and estate, brokerage and retirement plan services and had approximately $4.0 billion in assets under management as of September 30, 2025. The Company operated 127 full service banking centers as of September 30, 2025, located in Ohio, Indiana, Kentucky and Illinois, while the Commercial Finance business lends into targeted industry verticals on a nationwide basis. In 2025, First Financial Bank received its second consecutive Outstanding rating from the Federal Reserve for its performance under the Community Reinvestment Act and was recognized as a Gallup Exceptional Workplace Award winner, one of only 70 Gallup clients worldwide to receive this designation. Additional information about the Company, including its products, services and banking locations, is available at www.bankatfirst.com.

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SOURCE First Financial Bancorp.

FAQ

What did First Financial (FFBC) announce on November 3, 2025 regarding Westfield Bancorp?

First Financial announced it completed the acquisition of Westfield Bancorp and Westfield Bank in a cash-and-stock transaction, effective November 3, 2025.

How large are First Financial's assets after the Westfield Bank acquisition (FFBC)?

Following the acquisition, First Financial reports total assets of $20.6 billion.

When will Westfield Bank clients be converted to First Financial systems (FFBC conversion date)?

Westfield Bank will operate under its current name until the conversion process, which is anticipated to complete in March 2026.

Do Westfield Bank customers need to take any action now after the FFBC acquisition?

No action is required now; Westfield Bank clients will receive detailed account conversion information in the coming months.

What services did First Financial gain by acquiring Westfield Bank (FFBC)?

First Financial added Westfield's retail locations plus its commercial, insurance agency banking and private banking services to its commercial banking and wealth management capabilities.

How does the Westfield acquisition affect First Financial's Midwest presence (FFBC)?

The acquisition strengthens First Financial's Midwest foundation, expanding its footprint in Northeast Ohio and building on recent entries into Chicago and Grand Rapids.