As part of its continued restructuring, First Financial Bancorp in Hamilton, Ohio, has struck deals to sell five of its branches in central Indiana and Michigan.
The $3.5 billion-asset company said last week that it would sell three branches in the Indiana cities of Wabash, Warsaw, and Winchester to the $970 million-asset MutualFirst Financial Inc. of Muncie. The branches, which First Financial said last month that it had planned to close, would become branches of Mutual Federal Savings Bank.
First Financial also said that it would sell two branches in Hastings and Wayland, Mich., to the $3.7 billion-asset Chemical Financial Corp. of Midland.
The five branches have $60 million of loans and $77 million of deposits. First Financial said that it would net about $5 million from the sales, which are expected to close next quarter.
Last month First Financial said it would sell four branches in southeastern Indiana to MainSource Financial Group Inc. of Greensburg. It also intends to close about nine branches in Ohio and Kentucky.
