US-based First Financial Bancorp has completed its previously announced $142m worth acquisition of Chicago-based BankFinancial.
The all-stock transaction closed on 1 January 2026.
The deal marks First Financial’s entry into retail, consumer-focused banking in Chicago, extending its presence in the city beyond commercial lending.
As part of the transaction, the group has taken on BankFinancial’s core deposit operations, including 18 financial centres across the Chicago area, alongside its regional and national commercial loan, lease and deposit businesses.
Following completion, First Financial Bancorp has assets of approximately $22bn, broadening its range of consumer, commercial, speciality lending, and wealth management offerings.
BankFinancial branches will continue operating under the BankFinancial name while the two banks complete the integration of systems and products.
The conversion process is expected to conclude in June 2026.
BankFinancial customers will be provided with additional information about account changes in the coming months and are not required to take any action in the meantime.
First Financial said its existing clients will not be affected by either the merger or the conversion.
The acquisition forms part of First Financial’s wider expansion across the Midwest.
In 2023, the bank established a commercial lending operation in Chicago’s Fulton Market district.
This was followed in 2024 by the acquisition of Lincolnshire-based Agile Premium Finance.
In November 2025, the group completed the purchase of Westfield Bank, extending its commercial banking and wealth management activities in north-east Ohio.
It has also added commercial banking presence in Grand Rapids, Michigan.
First Financial Bank president and CEO Archie Brown said: “Expanding our presence in Chicago presents us with significant opportunities for growth and profitability because of the many solutions we can bring to new and existing clients in this market.
“First Financial exists to create opportunities to help our clients and communities thrive, and we look forward to the impact we can have with this approach in Chicago.”
First Financial Bancorp is headquartered in Cincinnati, Ohio.
As of 30 September 2025, the company reported $18.6bn in assets, with $11.7bn in loans, $14.4bn in deposits and $2.6bn in shareholders’ equity.
Its main subsidiary, First Financial Bank, operates across six business lines and ran 127 full-service banking centres across Ohio, Indiana, Kentucky and Illinois at the end of Q3 2025.
“First Financial completes all-stock acquisition of BankFinancial” was originally created and published by Private Banker International, a GlobalData owned brand.