First Financial Bancorp to acquire Westfield Bancorp for $325M in cash and stock

FIRST FINANCIAL BANCORP /OH/

Total consideration $325M: $260M cash + $65M in ~2.75M FFBC shares based on 10-day VWAP.
Expected 12% accretive to earnings with tangible book value earn-back of ~2.9 years.
Westfield Bank holds $2.2B assets; combined entity will be $20.6B Midwest institution.
Closing targeted in Q4 2025, subject to regulatory approvals; no shareholder vote required.
First Financial pledged $500K to its Foundation for Northeast Ohio communities served by Westfield Bank.

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