First Financial Bancorp closed its $325 million acquisition of Westfield Bancorp, Inc. and its subsidiary Westfield Bank, FSB, adding $2.2 billion in assets to the holding company’s balance sheet. The transaction, completed on November 3 2025, was structured as 80 % cash and 20 % stock, with First Financial issuing approximately 2.75 million shares valued at $65 million.
The deal brings Westfield Bank’s 70 retail branches, commercial lending, insurance agency, and private banking services into First Financial’s existing operations in Northeast Ohio. All Westfield Bank locations will remain open and will be rebranded as First Financial Bank after the closing, with the conversion of products, processes, and systems scheduled for completion in March 2026.
Prior to the acquisition, First Financial reported $18.6 billion in assets as of September 30 2025, up from $18.5 billion at March 31 2025 and $17.6 billion at March 31 2024. The transaction is expected to be 12 % accretive to earnings and provides a tangible book value earn‑back period of approximately 2.9 years.
Westfield Bancorp is a subsidiary of Ohio Farmers Insurance Company, a mutual insurer. The acquisition allows First Financial to leverage Westfield’s attractive deposit base, branch network, and commercial client portfolio, complementing its existing strengths in consumer, commercial, specialty lending, and wealth‑management services.
First Financial has committed $500,000 to its Foundation to support local organizations in the communities served by Westfield Bank. Regulatory approval was granted by the Federal Reserve Board and the Ohio Department of Commerce.
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