Cincinnati-based First Financial Bancorp said it has closed on its acquisition of Westfield B Bancorp, Inc. in a cash and stock transaction.
Westfield Bancorp is the holding company and sole shareholder of Westfield Bank, FSB. The acquisition means First Financial now holds $20.6 billion in assets, with a strong foundation in the Midwest. All Westfield Bank retail locations and its commercial, insurance agency banking and private banking services will all now join First Financial’s existing commercial banking and wealth management presence in Northeast Ohio.
“This is an exciting step in the growth of First Financial, as the addition of Westfield Bank opens new possibilities for growth and profitability for us in an attractive market,” Archie Brown, president and CEO of First Financial, said. “We can now bring our wide range of solutions in consumer, commercial, specialty lending and wealth management to new clients, while expanding our geographic footprint for our current clients. The First Financial team is thrilled to welcome the Westfield Bank team members to the First Financial family.”
The companies said Westfield Bank locations will continue to operate under the Westfield Bank name until the conversion process is complete in 2026. The conversion will consolidate the two banks’ products, processes and operating systems, officials said. Westfield Bank clients will receive detailed information about their accounts in the coming months.
First Financial said the acquisition will continue its growth in the Midwest. Recently it has announced agreements to acquire BankFinancial Corporation, and a banking presence in Grand Rapids, Mich. The locations add to the company’s presence in Cincinnati, Dayton, and Columbus, Ohio; Indianapolis, Ind., and Louisville, Ky.