Latest news with #FirstFinancial
Yahoo
20 hours ago
- Business
- Yahoo
First Financial to Acquire BankFinancial, Expands Chicago Presence
First Financial Corporation Indiana THFF has entered into an agreement to acquire BankFinancial Corporation BFIN, a Chicago-based financial institution, in an all-stock transaction valued at approximately $142 million. The move aligns with First Financial's strategic focus on strengthening its footprint in the Chicagoland market and enhancing its service offerings. Financial Details of THFF Deal Under the terms of the agreement, BankFinancial shareholders will receive 0.48 shares of First Financial for each share they hold. The transaction is unanimously approved by the boards of directors of both companies. It is expected to close in the fourth quarter of 2025, subject to regulatory approvals and shareholder consent. Upon completion, BankFinancial's consumer and wealth management services, along with selected commercial credit lines, will be integrated into the existing operations of First Financial. All BankFinancial employees will transition to First Financial, ensuring continuity in client relationships and community engagement. Rationale Behind BFIN's Acquisition The acquisition will expand First Financial's presence in the Chicagoland area by adding BankFinancial's 18 financial centers to its network. This added footprint will enhance its market reach and complement its existing branch network across Ohio, Indiana, Kentucky, and Illinois. The transaction aligns with THFF's broader Midwest growth strategy, which includes its prior agreement to acquire Westfield Bank in Northeast Ohio. The company is also focusing on its ongoing expansion into Chicago, Cleveland, and Grand Rapids. Archie Brown, president and CEO of First Financial, stated, 'The addition of BankFinancial's retail financial centers enables us to continue our Midwest growth strategy and provides Chicago clients a broader range of banking and specialty solutions to help them meet their financial goals.' THFF Zacks Rank & Price Performance Over the past year, First Financial shares have gained 39.4% compared with the industry's rise of 20.5%. Image Source: Zacks Investment Research Currently, THFF carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Similar Steps by Other Financial Firms In June 2025, Glacier Bancorp, Inc. GBCI entered a definitive agreement to acquire Guaranty Bancshares, Inc., the bank holding company for Guaranty Bank & Trust, N.A., a leading community bank headquartered in Mount Pleasant, TX. The all-stock transaction is valued at $476.2 million. Glacier Bancorp's planned acquisition of Guaranty demonstrates a significant step forward in its long-term growth strategy. Building on its initial entry into the Southwest region through the 2017 acquisition of Foothills Bank in Arizona, GBCI is now poised to amplify its presence by entering the Texas market. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Glacier Bancorp, Inc. (GBCI) : Free Stock Analysis Report First Financial Corporation Indiana (THFF) : Free Stock Analysis Report BankFinancial Corporation (BFIN) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Journals
a day ago
- Business
- Business Journals
Five things you need to know today, and your personal favorites
Happy Wednesday, Cincinnati! Here are five business news stories you need to know to get your day underway. 1) CVG hires construction firm for $6M project Cincinnati/Northern Kentucky International Airport has hired Hebron-based Harper Co. to reconstruct one of its major taxiways. The project will cost nearly $6 million and will include pavement reconstruction and electrical system upgrades. Harper was the only company that bid on the work, Chris Wetterich reports. The airport expects the project to wrap up by the end of the year. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events 2) First Financial acquiring out-of-state bank to triple branches there First Financial will acquire BankFinancial for $148 million, which will triple its Chicago branches to 26 total. Steve Watkins reports the deal will add $1.4 billion in assets to First Financial, which has $18.6 billion in assets and 128 banking centers in Ohio, Indiana, Kentucky and Illinois. Prior to the acquisition, First Financial had seven branches in the Chicago area but has been interested in expanding in the market for years. 3) Historic former restaurant, beer garden to be redeveloped Corryville Community Development Corp. plans to purchase the historic Mecklenburg Gardens building with $1.2 million in tax increment financing funds. The restaurant and beer garden closed in 2023 after 158 years. It has since sat vacant and deteriorating, Brian Planalp reports. Cincinnati City Council will have to approve the use of TIF funds. Upon approval, the Corryville CDC plans to bring an operating restaurant and brewery back to the space after renovations. Do you like Five Things? Make sure to subscribe to our Morning Edition emails so you have it in your inbox each day. 4) Health system to offshore administrative jobs Bon Secours Mercy Health is planning to build a support center in the Philippines, expanding its existing presence in the country, but cutting jobs in the U.S. as a part of a new global strategy. The offshored roles will include human resources, finance, supply chain and other administrative functions. The number of jobs impacted is unclear, according to the health system's chief administrative officer, who said it will be a small percentage of its domestic workforce. Mercy Health hopes the move will maximize operational efficiencies. 5) Growth fund with Cincinnati ties raises $238M O.H.I.O Fund raised $238 million while making 19 investments across the state, two in Greater Cincinnati companies, Watkins reports. Headed by Mike Venerable and Jill Meyer, the fund raised money from more than 106 investors including high-net-worth individuals, institutions and family offices of wealthy individuals, financial institutions, foundations and other corporations. This day in history 1942: The Manhattan Project commences, marking the start of the large-scale effort to develop an atomic bomb. What I'm reading "The Uptown Local" by Cory Leadbeater What I'm listening to Chappell Roan's new single "The Subway" "August" by Flipturn What I'm watching "The Summer I Turned Pretty" on Amazon Prime Video I've also been watching a lot of movies, including newer releases like "Jurassic World: Rebirth," "Freakier Friday," "Happy Gilmore 2," "Final Destination Bloodlines," "Sinners," the live action "Lilo & Stitch" and "Nonnas." I saw most in theaters with only two Netflix exceptions. My AMC Stubs A-List has been put to good use over the last few months. Your favorite of all time For the past year, I've felt like I was in the worst music drought ever. I find myself recycling the same playlists, same albums, same artists over and over again. I think I know the words to every song I have ever heard at this point. We've had a few music conversations in the Courier newsroom, notably around the time when "A Complete Unknown," the Bob Dylan biopic came out and a few editors and reporters declared their dislike for Dylan, Bruce Springsteen and other similar artists. I won't name names to save my colleagues the grief. I'd say I consume more music than the average listener. I listen to everything. From pop, rock, indie and rap to country, metal, folk, jazz and every sub-genre in between. Looking at my most recent Spotify plays, artists include Lorde, the Red Hot Chili Peppers, St. Vincent, Norah Jones, Mac DeMarco, Doechii, Modern Baseball, Taylor Swift, Turnstile, Steely Dan and Third Eye Blind. While all of these artists are fabulous, I need new stuff. So my question to you, Business Courier readers, is what is your favorite album of all time? Or, is there an artist or song you have on repeat right now? I'm open to any and all genres from any decade. Email me at lschwartz@
Chicago Tribune
4 days ago
- Business
- Chicago Tribune
BankFinancial and its 18 mostly suburban Chicago branches sold for $142 million to First Financial
Cincinnati-based First Financial has agreed to buy BankFinancial, a century-old Burr Ridge-based bank, in an all-stock deal valued at $142 million. BankFinancial, which opened its doors in 1924 as Oakley Federal Savings in Chicago, has 18 mostly suburban locations in Cook, Cook, DuPage, Lake and Will Counties. The merger, announced Monday, is expected to close in the fourth quarter, pending regulatory and shareholder approval. Once the acquisition is completed, all BankFinancial branches will move under the First Financial banner, marking the first foray into the competitive Chicago-area retail banking arena for the growing Ohio financial institution, which already has a commercial presence in the market. 'The addition of BankFinancial's retail financial centers enables us to continue our Midwest growth strategy and provides Chicago clients a broader range of banking and specialty solutions to help them meet their financial goals,' Archie Brown, president and chief executive officer of First Financial, said in a news release. As of June 30, BankFinancial had total assets of $1.4 billion and 190 full-time employees, according to the latest quarterly filing with the Securities and Exchange Commission. While the deal is expected to close by the end of the December, BankFinancial customers likely won't see the new name at their local branch for nearly a year. 'All BankFinancial branches will become First Financial locations once the transaction is closed,' Tim Condron, a First Financial spokesperson said in an email. 'While we have not determined an exact time for the transition to the First Financial brand, we anticipate that it will probably occur by summer of 2026.' Founded in 1863, First Financial has more than 130 banking centers in Ohio, Kentucky, Indiana and Illinois, and $18.6 billion in total assets as of June 30. First Financial has been growing recently through mergers, announcing the $325 million acquisition of Ohio-based Westfield Bank in June. That deal is also expected to close by year's end, pending regulatory approval. The addition of BankFinancial's retail footprint will complement First Financial's commercial presence in the Chicago market, which includes a commercial loan production office in Fulton Market, the Agile Premium Finance division in Lincolnshire and Bannockburn Capital Markets in downtown Chicago. First Financial also has retail and commercial banking locations in Northwest Indiana and downstate Kankakee. BankFinancial executives said the sale to the larger First Financial will benefit customers, even as the bank's first name eventually changes. 'First Financial is the ideal choice to help us continue our legacy of delivering exceptional financial solutions, while maintaining a strong commitment to customer care and service to our communities,' Morgan Gasior, chairman, president and chief executive officer of BankFinancial, said in the news release. While the deal was announced after the market closed Monday, BankFinancial's stock was up nearly 6% to $11.50 per share in after-hours trading. rchannick@
Business Wire
4 days ago
- Business
- Business Wire
BFIN Stock Alert: Halper Sadeh LLC is Investigating Whether the Sale of BankFinancial Corporation is Fair to Shareholders
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of BankFinancial Corporation (NASDAQ: BFIN) to First Financial Bancorp for 0.48 of a share of First Financial common stock per share of BankFinancial is fair to BankFinancial shareholders. Halper Sadeh encourages BankFinancial shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@ or zhalper@ The investigation concerns whether BankFinancial and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for BankFinancial shareholders; (2) determine whether First Financial is underpaying for BankFinancial; and (3) disclose all material information necessary for BankFinancial shareholders to adequately assess and value the merger consideration. On behalf of BankFinancial shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome.
Business Wire
4 days ago
- Business
- Business Wire
Shareholder Alert: The Ademi Firm investigates whether BankFinancial Corporation is obtaining a Fair Price for its Public Shareholders
MILWAUKEE--(BUSINESS WIRE)--The Ademi Firm is investigating BankFinancial (Nasdaq: BFIN) for possible breaches of fiduciary duty and other violations of law in its transaction with First Financial Bancorp. Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ or toll-free: 866-264-3995. There is no cost or obligation to you. In the transaction, shareholders of BankFinancial will receive 0.48 shares of First Financial common stock in an all-stock transaction valued at approximately $142 million, based on First Financial's August 8 closing stock price. BankFinancial insiders will receive substantial benefits as part of change of control arrangements. The transaction agreement unreasonably limits competing transactions for BankFinancial by imposing a significant penalty if BankFinancial accepts a competing bid. We are investigating the conduct of the BankFinancial board of directors, and whether they are fulfilling their fiduciary duties to all shareholders. We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
