Blackhawk Bancorp of Beloit, Wis., has agreed to buy Belvidere, Ill.- based First Financial Bancorp for $12.6 million in cash.

Blackhawk, a bank holding company with $201 million of assets, would pay up to $30 per share for each outstanding share of First Financial, an $82 million-asset, three-branch thrift company. The deal, for 1.63 times First Financial's book value, is expected to close during the third quarter.

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