First Financial Bank, a subsidiary of First Financial Bancorp, has completed its acquisition of Oak Street Holdings, a lender based in Indianapolis, Indiana.
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Established in 2003, Oak Street provides funding, lending, and servicing to insurance agents and brokers. It has approximately $240m in loans.
As part of the deal, Oak Street will be led by its founder and president Rick Dennen under the Oak Street brand, as a subsidiary of First Financial Bank.
First Financial Bank chairman and CEO Claude Davis said: "We view the combination with Oak Street as a tremendous opportunity to expand our already diverse product suite and are very excited by the growth and profitability profile of Oak Street.
"This acquisition complements our nationwide franchise finance business and we welcome Oak Street’s associates and clients to First Financial."
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