First Financial Bancorp (FFBC) Options

First Financial strikes again, buying Insight Bank for $36M

Dec 20, 2013, 7:00am EST

Insight Bank has agreed to be acquired by First Financial Bancorp, giving the Cincinnati bank its second deal in the Central Ohio market this week.

Worthington-based Insight, with $200 million in assets and one full-service branch, will take on the First Financial Bank banner, joining First Bexley Bank in the fold.

First Financial CEO Claude Davis had said he intended to grow the $6.3 billion-asset bank in Central Ohio and he followed up on that pledge quickly. The cash and stock transaction for Insight Bank is worth $36.6 million. Shareholders of Insight will receive $16.40 in First Financial (NASDAQ: FFBC) common stock and $4.10 in cash, according to terms unanimously approved by both boards.

The deal is subject to regulatory approval and expected to close in the first half of 2014.

Insight, which also has a mortgage origination office in Newark, touts the deal as providing customers a wider array of services including improved mobile banking and wealth-management capabilities. The bank was founded in 2006, around the time First Bexley and several other de novo banks popped up around Central Ohio.

CEO Harvey Glick started Prospect Bancshares Inc. in 2001 and sold it in 2004 for $46.9 million to Sky Financial Group Inc., which was later acquired by Huntington Bancshares Inc. (NASDAQ:HBAN). He took the helm at Insight in 2008.

First Financial will appoint one director from Insight to serve on its board, as well as establish a separate Columbus advisory board consisting of current Insight and First Bexley directors, in order to acclimate the bank to Central Ohio.

Insight has total loans of $165 million, total deposits of $165 million and common shareholders’ equity of $20.1 million. Its net income for the last 12 months was $1.8 million.

First Financial operates 110 branches throughout western Ohio, Indiana and Kentucky.

http://www.bizjournals.com/columbus/news/2013/12/19/first-financial-strikes-again-buying.html

*aggressive acquisitions for FFBC.

FFBC - This stock is a piece of crap

First Financial misses 3Q estimates, stock takes a hit

First Financial misses 3Q estimates, stock takes a hit

FFBC down 5.17% to 15.59

Divi yield around 5% with what they've declared. Little higher than that if you assume the same divi going forward.

Flagstar Completes the Sale of Its Indiana Retail Bank Franchise to FFBC

http://ih.advfn.com/p.php?pid=nmona&article=50292530

FFBC starting to look like a good swing play again.

Do I let this one go ?

This was a nice little gem coming out of the crash. Problem is, not much volatility now. Just a slow drift downward. Should head back up in July if the market doesn't crash again. lol

I'm debating whether to play this one more time. A lot of positive signs showing up in the area where this bank is located.

First Financial Bancorp Reports Fourth Quarter and Full Year 2010 Financial Results
http://ih.advfn.com/p.php?pid=nmona&article=46181951&symbol=FFBC

I can't help wondering what the new year is going to bring to FFBC and other banks that have weathered the storm.

This is starting to look like a safe haven bank instead of a bouncer.

I think I can squeeze another 10% out of FFBC. LOL

Looks like we're doing it again on FFBC.

Looks like a nice heavy weight swing play going into July.

I don't think there's anything left of Irwin or Peoples but the holding companies. I took both off my watch list when the volumes dropped so low you couldn't even flip them. I think there's too many good opportunities out there right now to risk money on a very high risk long term lotto play. CRBC is making a come back and bouncing. FSNM has survived this long, odds are increasing that it's going to survive. FFBC is turning back into a good swing stock. You can make short term money off these banks without the huge risk. I think if you keep playing the low risk banks like FFBC and CRBC then in the long term you'll make more money than what you'd make even if you hit a high risk lotto play.

Do you think Peoples Community Bancorp (PCBI), selling for 1 penny
as of today, and Irwin Financial Corporation (IRWNQ), selling for less than a penny also, would be a great buy??? Let me know, both of these financial institutions were taken over by First Financial Bank. PCBI did not file bankruptcy, but Irwin Financial filed for Chapter 11 Bankruptcy relief last year, but was sold to First Financial Bank before it emerged from bankruptcy in 2009. That means FFBC owns all their shares. At the Nasdaq website First Financial Bank reported revenues over $674 Billion dollars in 2009 on the
link Earnings P/S. Their earnings per share was over $5 dollars per share and dividends of .40 cents per share.

Therefore; I agree with your post, that FFBC, is an excellent choice of stock to buy as long as they keep it up and regulations are kept very strict as to not allow any more naked short-selling in the stock market industry.

Such a lonely board, but one nice investment,

When will it stop ? LOL

Low volume, But FFBC just keeps moving up.

First Financial Bank, N.A. Acquires the Banking Operations of Irwin Union Bank and Trust Company and Irwin Union Bank, F.S.B.
http://www2.snl.com/irweblinkx/file.aspx?FID=1500023992&IID=100255

First Financial Bank, N.A. Completes the Purchase of Three Banking Centers from Irwin Union Bank and Trust Company
http://www.snl.com/irweblinkx/file.aspx?FID=1001148026&IID=100255

First Financial Bancorp to Pay Cash Dividend

http://www.snl.com/irweblinkx/file.aspx?FID=1001148027&IID=100255

Welcome to First Financial Bancorp