First Financial rises after $325 million deal for Westfield Bancorp

First Financial Bancorp.

24/06/2025 14:56

** Regional lender First Financial Bancorp's FFBC.O shares rise 1.7% to $24.15 in early trading

** First Financial will buy smaller rival Westfield Bancorp in a $325 million cash-and-stock deal from Ohio Farmers Insurance Company

** Consideration includes $260 million in cash and about 2.75 million shares of First Financial

** Deal will expand First Financial into a $20.6 billion Midwest-based institution

** Transaction expected to close in Q4 and anticipated to boost First Financial's earnings by 12%

** 1 of 5 brokerages rate the stock "strong buy" and 4 "hold"; median PT $28 - data compiled by LSEG

** As of last close, FFBC stock down 11.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))