First Financial Closes Oak Street Acquisition

(RTTNews) - First Financial Bank N.A., a subsidiary of First Financial Bancorp (FFBC), on Friday completed its acquisition of Oak Street Holdings Corp.

First Financial expects the deal to be immediately accretive to operating earnings and expects Oak Street to add between 16 and 20 cents per share to operating earnings and about 20 basis points of net interest margin expansion in its first full year of operation.

Oak Street, a nationwide lender based in Indianapolis, Indiana, provides loans, secured by commissions and cash collateral accounts, exclusively to insurance agents and brokers.