HAMILTON, Ohio - First Financial Bancorp said it has signed a definitive agreement to acquire $110 million-asset Bright Financial Services Inc., Flora, Ind., in a $15 million deal.

Bright would become the 13th affiliate of $1.9 billion-asset First Financial. First Financial operates 69 offices in Ohio and Indiana.

In the deal, each of Bright's 205,714 outstanding common shares would be exchanged for First Financial shares at an estimated $73.18 per share in a tax-free exchange.

Subject to regulatory and shareholder approvals, the merger is expected to close in the third quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.