(Source: Datamonitor)
First Financial Bancorp has announced that its wholly owned subsidiary First Financial Bank has purchased the banking operations of Irwin Union Bank and Trust Company and Irwin Union Bank, subsidiaries of Irwin Financial, through agreements with the Federal Deposit Insurance Corporation.
The Indiana Department of Financial Institutions and the Office of Thrift Supervision have appointed the Federal Deposit Insurance Corporation as receiver.
Claude Davis, president and CEO of First Financial Bancorp, said: "We are pleased to welcome the clients of Irwin to First Financial and want to assure them that their deposits are safe, secure, and readily accessible. Since all deposits are being assumed by First Financial Bank, there will be no losses to any depositor.
"Clients will recognize familiar banking center associates from Irwin who will continue to take care of their banking needs. The purchase of these banking centers expands First Financial's multi-state presence that now includes 49 locations in Indiana. We're excited to extend our products, services, and brand of banking to a larger client base."
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