First Financial Bancorp has agreed to acquire Finward Bancorp, the holding company for Peoples Bank, in an all-stock transaction valued at approximately $208 million. The deal will expand First Financial's presence in northwest Indiana and Chicago, adding 24 locations and a low-cost core deposit franchise with roughly $2.0 billion in assets, $1.7 billion in deposits, $1.5 billion in loans, and $412 million in assets under management. Under the terms, each Finward share will be exchanged for 1.35 shares of First Financial common stock, and the transaction is expected to be approximately 5% accretive to First Financial's earnings per share with a tangible book value earnback of 0.6 years. The merger, unanimously approved by both boards, is anticipated to close in the fourth quarter of 2026, subject to regulatory approvals and Finward shareholder approval. First Financial also committed to donate $500,000 to its Foundation for local organizations in Finward's communities, adding to the $1 million donated upon its earlier Chicago market entry.
First Financial BancorpAcquiring Finward Bancorp in accretive all-stock deal, expanding footprint and earnings.
Finward BancorpBeing acquired at a premium via stock exchange, shareholders benefit from deal terms.
First Financial Corporation Indiana