First Financial to Acquire First Illinois in $111M Bank Merger
THFF sits 62% above its 52-week low of $51.21.
Summary
First Financial signed a definitive agreement to acquire First Illinois, parent of Hickory Point Bank, in a stock/cash deal valued at $111.3 million. The transaction adds 8 branches in Decatur, Springfield, and Champaign, expanding First Financial's Illinois footprint. Pro forma combined assets reach $6.9 billion, with $4.9 billion in loans and $5.5 billion in deposits. First Illinois shareholders can elect 0.5727 First Financial shares or $44.35 cash per share, subject to a 70/30 stock/cash split. The deal is expected to close in Q4 2026, pending regulatory and shareholder approvals. This follows First Financial's record Q2 earnings and strengthens its community banking franchise in central Illinois.
At the time of this announcement, THFF was trading at $83.00 on NASDAQ in the Finance sector, with a market capitalization of approximately $940.3M. The 52-week trading range was $51.21 to $84.17. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.