Mergers & Acquisitions

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Deal Overview

First Financial Bancorp.
Actual Acquirer:
First Financial Bancorp.
Home Federal Bank, A Federal Savings Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Completion Date:
Announced Deal Value Per Share ($ )

Consideration Breakout
Common Stock ($M) 3.8
Common Stock Issued 116,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 62.5 60.3
Price / Tangible Book (%) 62.5 60.3
Price / Earnings (x) 40.0 13.8
Price / Deposits (%) 2.18 2.18
Price / Assets (%) 2.05 2.03
Tangible Book Premium/ Deposits (%) (1.42) (1.57)
Deal Terms
Description of Consideration

Home Federal shareholders received $11 in First Financial common stock for each share held, providing an exchange ratio of 0.3322 shares of First Financial common for each share held.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) NA
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) NA
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 0.332200
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement NA
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes KeyBanc Capital Markets Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Parrish Fryman Marcum
Seller Yes Vorys Sater Seymour and Pease