First Financial Bancorp Acquires BankFinancial, Expanding Presence in Chicago Banking Market

First Financial Bancorp's Strategic Expansion into Chicago

First Financial Bancorp has successfully completed its acquisition of BankFinancial Corporation, a transaction that positions the company firmly within the competitive Chicago banking market. Effective January 1, 2026, this all-stock deal marks a significant milestone for First Financial, as it adds 18 retail locations aimed at enhancing its consumer-focused banking services. With this expansion, First Financial aims to bolster its core deposit franchise, capitalizing on Chicago's diverse economic landscape to attract a broader customer base. The acquisition is expected to allow First Financial to leverage its existing capabilities in commercial loans, leases, and deposits, thereby solidifying its presence in the region.

Archie Brown, president and CEO of First Financial Bank, emphasizes the growth potential in Chicago, highlighting the company's commitment to fostering opportunities for both clients and the surrounding communities. This strategic move not only increases First Financial's asset base to $22 billion but also enables the bank to offer an expanded range of services, including consumer, commercial, specialty lending, and wealth management solutions. The integration of BankFinancial into First Financial's operations is set to take place over an 18-month period, during which the two institutions will work towards consolidating their products and systems while ensuring a seamless transition for clients.

In the coming months, BankFinancial customers will receive essential information regarding the account conversion process, although they are advised to maintain their current banking practices until further notice. The merger is designed to be smooth, with no immediate disruptions expected for existing clients of either bank. This acquisition aligns with First Financial's broader strategy of growth and expansion in the Midwest, following previous initiatives that included establishing a commercial presence in Chicago's Fulton Market in 2023 and acquiring Agile Premium Finance in Lincolnshire in 2024. The recent acquisition of Westfield Bank in November 2025 further reflects First Financial's commitment to strengthening its commercial banking footprint in the region.

In summary, First Financial Bancorp’s acquisition of BankFinancial represents a pivotal development in the bank's growth strategy, allowing it to deepen its market presence in Chicago. The transaction not only enhances First Financial's capabilities but also demonstrates its dedication to serving diverse client needs across the Midwest. With the integration process underway, both banks remain focused on maintaining service continuity for their respective customers as they work towards a unified banking experience.