Mergers & Acquisitions

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Deal Overview

Buyer:
First Financial Bancorp.
Actual Acquirer:
First Financial Bank, National Association
Target:
Commercial business loans
Deal Type:
Specialty Finance Portfolio
Seller:
Irwin Financial Corporation
Agreement Date:
6/30/2009
Announcement Date:
6/30/2009
Announced Deal Value ($ M):
149.70
Status:
Completed
Completion Date:
6/30/2009

Consideration Breakout
Unclassified ($M) 149.7

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 103.17 103.17
Price / Managed Receivables (%) 103.17 103.17
Deal Terms
Description of Consideration

First Financial Bancorp. has paid approximately $149.7 million to acquire commercial business loans from Irwin Financial Corporation. These loans were sold at 99.8% of par value.

Percent Acquired (%) NA
Purchase Method Acquisition
Merger of Equals? No
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer NA NA
Seller Yes Stifel Nicolaus & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer NA NA
Seller Yes Barnes & Thornburg LLP