Cincinnati-Based First Financial Bank to Acquire Westfield Bank, Rebrand Branches
By Patrick Williams, Akron Beacon Journal
In a significant move poised to reshape banking services in Northeast Ohio, Cincinnati-based First Financial Bank has reached a definitive agreement to acquire Westfield Bancorp, the holding company of Westfield Bank. With $2.2 billion in assets, Westfield Bancorp is headquartered in Westfield Center, Medina County, and its acquisition is valued at $325 million.
Details of the Acquisition
The purchase price for the acquisition will be paid 80% in cash and 20% in First Financial stock. The deal includes the acquisition of Westfield Bancorp’s subsidiary, Westfield Bank, and is expected to close in fall 2025, pending regulatory approvals and other closing conditions.
Until the completion of the acquisition, Westfield Bank will continue its current operations, including plans for a new location in Wadsworth. After the acquisition, all retail locations currently operating under the Westfield Bank name—including branches in Westfield Center, Fairlawn, Cuyahoga Falls, Medina, Jackson Township, Wooster, and Brecksville—will remain open. These branches will be rebranded under the First Financial Bank name.
What This Means for Westfield Bank Clients
Clients of Westfield Bank will not have to take any immediate action. Their existing loans and certificate of deposit (CD) rates will remain unchanged following the acquisition. First Financial has assured that it will communicate any future changes regarding products and services to both personal and business clients. Customers with questions are encouraged to contact their personal banker or call the Westfield Bank call center at 800-368-8930. ### Background: Westfield Bank’s Transition
Westfield Bank is being sold off by Ohio Farmers Insurance Company, a global property and casualty insurer doing business under the Westfield brand. The sale marks a strategic pivot for Westfield Insurance, which will continue to focus exclusively on its insurance operations. As the largest employer in Medina County—with about 2,500 U.S. employees and 1,700 based in Westfield Center—Westfield Insurance’s decision aims to sharpen its focus on its core insurance business. By contrast, Westfield Bank employs 192 staff members.
Westfield CEO and Board Chair Ed Largent commented that the sale aligns with the company’s strategic focus on its portfolio of property and casualty insurance services, including recent expansions like Westfield Specialty U.S. and Westfield Specialty International.
First Financial Bank’s Growth Strategy
First Financial Bank President and CEO Archie Brown emphasized that acquiring Westfield Bank will accelerate its growth in Northeast Ohio by expanding the bank’s capacity to serve more customers in an attractive market. The acquisition will also open new avenues for growth and profitability in the region.
In a gesture to support local communities during this transition, First Financial plans to donate $500,000 to its foundation, which benefits the areas served by Westfield Bank.
First Financial Bank’s footprint extends across the Midwest, including Cincinnati, Dayton, Columbus, Indianapolis, and Louisville, Kentucky. The bank has also recently expanded commercial banking services into Cleveland, Chicago, and Grand Rapids, Michigan.
"The commercial banking focus of Westfield Bank complements our strengths and enhances our ability to build upon existing specialty lending businesses," Brown stated. "Both organizations share a community-first approach and a strong workplace culture. This forms an excellent foundation as we expand our banking solutions to serve more communities."
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Patrick Williams covers growth and development for the Akron Beacon Journal. He can be reached at [email protected] or on X @pwilliamsOH.
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