Finward Bancorp jumps on $208 million buyout deal from First Financial Bancorp
FNWD•Closing timeline and share performance
The deal is expected to close in Q4 2026 and is poised to boost FFBC's profit per share by 5%.
Up to the last close, FNWD shares were up 3.7% year to date.
Finward shares jump on First Financial buyout
Community lender Finward Bancorp's FNWD.O shares jumped 20.8% to $44.08 after regional lender First Financial Bancorp announced late Tuesday that it will buy the smaller rival in a $208 million all-stock deal.
FNWD shareholders will receive 1.35 shares of First Financial for each share held.
Deal expands First Financial's regional presence
Buying FNWD will bolster FFBC's presence in northwest Indiana and Chicago markets.
FFBC stock was down 6%.
"Recent success with the Westfield and BankFinancial acquisitions should provide investors with confidence that First Financial will efficiently close and integrate Finward into the First Financial platform, achieving the financial targets," Stephens analyst Brandon Rud said.
