The first finance to get Westfield Pancorp in a $ 325 million deal

First Financial, a holding company in the United States, has reached a final agreement to obtain Westfield Bancorp from OHIO FARMERS INSURANCE Company.

The value of the money and stock deal is $ 325 million.

The deal will be funded by 80 % cash and 20 % of shares, which includes $ 260 million in cash and about 2.75 million shares of first financial stocks.

The acquisition includes all retail banking sites at Westfield Bank, as well as commercial and commercial services and private banking services.

First Financial expects to enhance the acquisition of its banking mark and wealth management in northeastern Ohio.

“We are excited to welcome Westfield Bank and accelerate our growth in northeastern Ohio,” said financial president and CEO Archi Brown.

“This targeted expansion in commercial banking companies, consumers and specialists expands our ability to serve additional customers, and opens new ways of growth and profitability in an attractive geographical area.

“We are excited about the commercial banking concentration of Westfield Bank as well as the complementary nature of the specialized lending companies of Westfield, which will be based on our current strengths.”

The deal is expected to be closed in the fourth quarter of 2025, awaiting organizational approvals and the conditions of the usual closure.

It is worth noting that the approval of the first financial shareholders is not required, as Ohio farmers already agreed to the deal.

Moreover, Westfield Bank is expected to provide expanded credit capacity and create additional growth opportunities for its employees.

“The growth of Westfield Bank was to become one of the largest community banks in Ohio as a huge success story,” said Westfield Chairman and CEO Mike Teath.

“We are incredibly proud of the strong relationships that we have created with our customers and the contributions made by our banking team over the past two decades.

“The first money to get Westfield Pancorp in a $ 325 million deal” was originally created and published by Banker Retail InternationalThe brand owned by Globaldata.

Information on this site was included in good faith for public media purposes only. It is not intended to reach the advice that you should depend on, and we do not provide any representation, guarantee or guarantee, whether it is explicit or implicit in relation to accurately or completing it. You must have a professional or specialized advice before taking any action based on the content on our website.