First Financial to Buy Finward for $208 Million, Expand Chicago Footprint

Cincinnati-based First Financial Bancorp is building scale across the Midwest after its recent purchases of Westfield Bancorp in northeast Ohio and BankFinancial in Chicago. Finward Bancorp, the Munster, Indiana-based parent of Peoples Bank, brings a 116-year franchise, low-cost core deposits and established operations in northwest Indiana and greater Chicago. The deal deepens First Financial’s retail and commercial banking footprint in one of the region’s largest markets while strengthening its ability to compete with bigger lenders.

First Financial and Finward announced the all-stock transaction on July 21, 2026, valuing Finward at about $208 million based on First Financial’s July 20 close. Finward shareholders will receive 1.35 First Financial shares for each share held. The acquisition adds 24 financial centers to 15 retail locations gained through BankFinancial, lifting pro forma Chicago-area deposits by more than 75% to over $4 billion. Expected to close in the fourth quarter of 2026, the deal is projected to increase First Financial’s earnings per share by about 5%.