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Stock impact report

KBRA Comments on First Financial Bancorp's Proposed Acquisition of Westfield Bancorp [Yahoo! Finance]

First Financial Bancorp. (FFBC) 
Last first financial bancorp. earnings: 4/20 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/100255
Company Research Source: Yahoo! Finance
unsecured debt rating: BBB+ / Stable Outlook), the parent company of First Financial Bank, announced a definitive agreement to acquire Westfield Bancorp ("Westfield" - $2.2 billion of assets or 11% of pro forma total assets), the holding company of Westfield Bank, FSB, from the ultimate parent, Ohio Farmers Insurance Company, a property and casualty insurance group. Under the terms of the agreement, Westfield will merge with and into First Financial in a cash-and-stock transaction (80% cash / 20% stock) valued at approximately $325 million, or 1.4x price-to-tangible book value at announcement. The acquisition is expected to close in the fourth quarter of 2025, subject to customary regulatory approvals. There are no anticipated changes to First Financial's management team or Board of Directors, though select members of Westfield's executive team are expected to assume leadership roles at the combined company. Overall, we believe the transaction makes strategic sense for First Financi Show less Read more
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