The banking centers located in the Indiana communities of Carmel, Greensburg and Shelbyville have been transitioned to First Financial
First Financial Bank, a wholly-owned subsidiary of First Financial Bancorp, has completed the purchase of three banking centers from Irwin Union Bank and Trust Company, the subsidiary bank of Irwin Financial. Following the purchase, the banking centers located in the Indiana communities of Carmel, Greensburg and Shelbyville have been transitioned to First Financial Bank and opened as its banking centers.
Reportedly, total deposits of $84.6 million assumed through this transaction include only checking, savings and money market accounts. Certificate of deposit accounts were excluded. Total deposits assumed are approximately $58.7 million less than the previous estimate of $143.3 million, due primarily to the exclusion of the certificate of deposit accounts. Additionally, the clients with certificate of deposit accounts will be able to move their accounts to First Financial at maturity.
According to the bank, the purchase of these banking centers is a plan to extend its reach into central and southeastern Indiana. The company now operates 36 banking centers in 27 communities in Indiana. In total, First Financial operates 104 banking centers in 63 communities in Ohio, Kentucky and Indiana.