First Financial Bank is buying First Illinois Corporation, the holding company for Hickory Point Bank and Trust, in a stock/cash transaction valued at approximately $111.3 million.
First Financial is the fifth oldest national bank in the United States with 87 banking centers in Georgia, Illinois, Indiana, Kentucky and Tennessee. Hickory Point Bank is a community bank that operates 8 branches in the central Illinois communities of Decatur, Springfield and Champaign.
The transaction will complement First Financial’s existing Illinois franchise by adding Hickory Point Bank’s locations in Decatur, Springfield and Champaign. Hickory Point Bank brings over approximately $717 million in total assets, $438 million in total loans and $627 million in total deposits. The combined company will have approximately $6.9 billion in total assets, $4.9 billion in total loans and $5.5 billion in total deposits.
“We are pleased to expand our footprint in Illinois through the addition of Hickory Point Bank, an exceptional community banking franchise with strong customer relationships across central Illinois,” Norman Lowery, First Financial’s president and CEO, said. “Hickory Point Bank brings an attractive core deposit franchise and strong balance sheet liquidity that will enhance our funding profile and support continued growth.”
The transaction has been approved by each company’s board of directors and is expected to close in the fourth quarter of 2026, subject to customary closing conditions and shareholder approvals.
“We are pleased to be joining an organization that shares Hickory Point Bank’s commitment to relationship-focused community banking. This combination will provide our customers and employees with access to additional resources and capabilities while delivering meaningful value to our stockholders,” Anthony Nestler, president of First Illinois and president & CEO of Hickory Point Bank, said.
Raymond James & Associates, Inc. served as financial advisor to First Financial and Piper Sandler & Co. served as financial advisor to First Illinois.