M&A
confidence high
sentiment neutral
materiality 0.80
First Financial to acquire Finward Bancorp in all-stock deal valued at 1.35x exchange ratio
Finward Bancorp
- Finward shareholders receive 1.35 shares of First Financial common stock per share; deal expected to close Q4 2026.
- Finward has ~$2.0B assets, $1.7B deposits, $1.5B loans, and $412M in assets under management.
- Transaction expected to be ~5% accretive to First Financial's EPS; $500K donation to local communities.
- Termination fee of $9.0M payable by Finward under certain circumstances; boards unanimously approved.
- Expands First Financial's Chicago presence with 24 locations; pro forma deposits in Chicago MSA exceed $4B.