First Financial To Acquire First Illinois In Cash And Stock Deal Valued At About $111.3 Mln
First Financial Corp. (THFF) will acquire First Illinois Corp. in a $111.3M cash and stock deal. First Illinois shareholders can choose between 0.5727 THFF shares or $44.35 per share. The merger, approved by both boards, is expected to close in Q4 2026. The combined entity will have $6.9B in assets.
How this was made
The 30-second read
Why it matters
The merger creates a larger balance sheet, potentially improving earnings per share and market share in Illinois.
Market read
The deal is material for THFF and may influence other regional banks' valuations.
What to watch
Potential cultural integration challenges and competition from larger banks.
Background
First Financial Corp (THFF) is a publicly traded regional bank seeking growth through acquisitions.
Ticker impact
First Financial Corp announced a $111.3M cash‑stock merger with First Illinois, creating a $6.9B bank.
THFF likely to trade higher on the news as investors price in synergies.
Deal size is material, adds significant assets, and is the first public disclosure.
Market effects
Regional banking consolidation in Illinois may pressure peer community banks.
Midwest banking sector could see modest re‑rating as the combined entity gains scale.
Limited to U.S. regional banking market.
Counterpoint
Integration risks and regulatory approvals could delay benefits, weighing on the stock.
Key entities
- CompanyFirst Financial Corp
Acquirer, ticker THFF.
- CompanyFirst Illinois Corp
Target, holding company for Hickory Point Bank.



