SHERIDAN, WYOMING – January 1, 2026 – First Financial Bancorp. says it will close its previously announced all-stock acquisition of Chicago-based BankFinancial Corporation, expanding into the Chicago market with its first retail consumer-focused locations there.
What’s Happening and Why Chicago Is the Center of This Deal
First Financial Bancorp. (Nasdaq: FFBC) announced that the acquisition is scheduled to close on January 1, 2026. The company says the transaction expands its presence in the Chicago market by adding consumer-facing retail locations, marking a new step for a bank that has been steadily growing its Midwest footprint.
The announcement frames the deal as both a scale move and a market move. With BankFinancial, First Financial says it gains a strong core deposit franchise and an on-the-ground presence in the Chicago area through BankFinancial’s network of financial centers.
What First Financial Says It Adds Through BankFinancial
According to the company, the acquisition adds 18 financial centers in the area and brings regional and national commercial loan, lease, and deposit lines of business. First Financial also says that with the completion of the acquisition it will now have $22 billion in assets and offer a broader range of services across consumer banking, commercial banking, specialty lending, and wealth management.
For everyday customers, those details translate into one main point: the bank expects to have more capacity and product breadth than either organization offered on its own. The company also positions this as an opportunity to bring more solutions to clients in a major, competitive metro market.
"Expanding our presence in Chicago presents us with significant opportunities for growth and profitability because of the many solutions we can bring to new and existing clients in this market,"
What Stays the Same for Customers Until the Conversion
First Financial says BankFinancial locations will continue operating under the name “BankFinancial” until the conversion process is complete. The company anticipates that conversion in June 2026, at which point the two banks’ products, processes, and operating systems would be consolidated.
The company also states that BankFinancial clients will receive detailed information about account conversions in the coming months. Until then, BankFinancial clients do not need to take any action and can continue using existing BankFinancial channels. First Financial clients, the company says, will not be impacted by the merger or the conversion.
How This Fits Into First Financial’s Midwest Growth Story
The company describes the BankFinancial acquisition as part of a larger pattern of expansion across the Midwest. It cites adding a commercial lending presence in Chicago’s Fulton Market in 2023 and acquiring Lincolnshire-based Agile Premium Finance in 2024. It also references the closing of its Westfield Bank acquisition announced in November 2025, which it says expanded commercial banking and wealth management capabilities in Northeast Ohio.
First Financial also notes it recently added a commercial banking presence in Grand Rapids, Michigan. The combined picture is a bank building a broader regional network while also adding specialized capabilities, with Chicago positioned as a key market for growth.
3 Ways This Matters for Everyday Banking Customers
- More retail locations in Chicago can mean greater convenience for in-person banking, especially for customers who prefer branch access alongside digital channels.
- The bank says it will ultimately consolidate products and operating systems in a conversion expected in June 2026, so customers should expect future updates and changes once that integration begins.
- A larger combined organization, which First Financial says will total $22 billion in assets after completion, may support a wider range of consumer and wealth management services under one umbrella.
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