First Financial has finalised its previously announced acquisition of Chicago-based BankFinancial through an all-stock transaction, marking its entry into the Chicago retail consumer banking market.
The Chicago retail banking acquisition is valued at approximately $142m and closed on 1 January 2026, following an agreement reached in August 2025.
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The acquisition brings First Financial’s total assets to $22bn, with the addition of BankFinancial’s 18 financial centres in the Chicago area along with its regional and national commercial loan, lease, and deposit business lines.
The expanded organisation will offer an increased range of consumer, commercial, specialty lending, and wealth management services.
BankFinancial locations will retain the BankFinancial name until the conversion process completes, expected in June 2026. This process will integrate the products, processes, and operating systems of both banks.
During the transition period, BankFinancial clients are not required to make any changes and can continue using their existing banking services without disruption.
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By GlobalDataDetailed instructions regarding account changes will be provided to BankFinancial clients in the coming months.
The merger will not impact First Financial clients.
First Financial Bank president and CEO Archie Brown said: “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.
“First Financial exists to create opportunities to help our clients and communities thrive, and we look forward to the impact we can have with this approach in Chicago.”
The acquisition is part of First Financial’s recent Midwest expansion.
In 2023, it established a commercial lending presence in Chicago’s Fulton Market and acquired Agile Premium Finance of Lincolnshire in 2024.
In November 2025, it closed on Westfield Bank, adding wealth management and commercial banking capabilities in Northeast Ohio.
Additional expansion includes a new commercial banking presence in Grand Rapids, Michigan, supporting the bank’s broader Midwestern strategy across Dayton, Cincinnati, Northeast Ohio, Columbus; Indianapolis; Chicago; and Louisville.
