Cincinnati-based First Financial Bancorp is expanding in Chicagoland by acquiring Finward Bancorp, Munster, Ind. .The $208 million deal, expected to close in the fourth quarter, will increase First Financial’s branch footprint in northwest Indiana and Chicago to nearly 40. A $22.4 billion-asset bank, First Financial Bancorp has $13.7 billion in loans and $17.6 billion in deposits. The holding company of Peoples Bank, Finward Bancorp has $2 billion in assets, $1.7 billion in deposits and $1.5 billion in loans. “We are excited to partner with a bank with a similar operating philosophy and strong credit culture,” said First Financial Bank President and CEO Archie Brown. The acquisition continues First Financial’s growth. In the past year, the bank acquired Westfield Bancorp in Northeast Ohio and Chicago-based BankFinancial Corporation, expanding its commercial banking program in Chicago, Cleveland and Grand Rapids, Mich. Morgan Stanley & Co. LLC is financial advisor to First Financial. Stephens Inc. is financial advisor to Finward and provided a fairness opinion to Finward’s Board of Directors. Squire Patton Boggs LLP is legal counsel to First Financial, while Barack Ferrazzano Kirschbaum & Nagelberg LLP is legal counsel to Finward.
