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First Financial Bancorp (NASDAQ:FFBC), a regional bank with a market capitalization of $2.4 billion, announced it has received regulatory approval for the planned merger of its subsidiary, First Financial Bank, with Westfield Bank, FSB. The company disclosed Monday that the Board of Governors of the Federal Reserve System and the Ohio Department of Commerce, Division of Financial Institutions, have approved the application for the merger. According to InvestingPro analysis, First Financial maintains a strong financial health score, suggesting solid positioning for this strategic move.
The merger is part of First Financial Bancorp’s previously announced acquisition of all issued and outstanding equity securities of Westfield Bancorp, Inc., the parent company of Westfield Bank. The acquisition agreement was signed with Ohio Farmers Insurance Company on June 23, 2025.
According to the company’s statement, the closing of the acquisition is anticipated to occur on November 1, 2025.
First Financial Bancorp is incorporated in Ohio and is headquartered in Cincinnati. Its common stock is listed on the NASDAQ Stock Market under the symbol FFBC.
This information is based on a press release statement included in a recent SEC filing.
In other recent news, First Financial Bancorp reported a record revenue of $226.3 million for the second quarter of 2025, reflecting a 5% increase compared to the same period last year. The company also announced adjusted earnings per share of $0.74. Additionally, First Financial Bancorp revealed its acquisition of Westfield Bank in Northeast Ohio, a strategic move to bolster its market position. These developments come as the company continues to expand its presence in the banking sector. While the company’s stock price saw an increase, the focus remains on the company’s financial performance and strategic growth. Investors will likely keep an eye on how the acquisition impacts future earnings and revenue. Analysts may provide further insights into the potential benefits of this acquisition in upcoming reports.
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