CINCINNATI, Dec. 4, 2017 /PRNewswire/ -- First Financial
Bancorp. (Nasdaq: FFBC) ("First Financial") and MainSource
Financial Group, Inc. (Nasdaq: MSFG) ("MainSource") announced today
that each company has received the requisite shareholder approval
for the merger of MainSource with and into First Financial that was
announced on July 25, 2017.
The transaction remains subject to receipt of all required
regulatory approvals and satisfaction of customary closing
conditions, and is expected to close in early 2018.
Upon closing of the merger, the banking subsidiaries of each
will also merge, with First Financial Bank as the surviving
entity. The MainSource branches will continue to operate under the
name "MainSource Bank" until the conversion of the operating
systems, anticipated to occur in the second quarter of 2018.
About First Financial Bancorp.
First Financial
Bancorp. is a Cincinnati, Ohio
based bank holding company. As of September 30, 2017,
First Financial had $8.8 billion
in assets, $6.0 billion in loans,
$6.7 billion in deposits and
$915.0 million in shareholders'
equity. First Financial's subsidiary, First Financial Bank,
founded in 1863, provides banking and financial services products
through its four lines of business: Commercial and Private Banking,
Retail Banking, Investment Commercial Real Estate and Commercial
Finance. These business units provide traditional banking
services to business and retail clients. Commercial and
Private Banking includes First Financial Wealth Management, which
provides wealth planning, portfolio management, trust and estate,
brokerage and retirement plan services and had approximately
$2.6 billion in assets under
management as of September 30, 2017. First Financial's
primary operating markets are located in Ohio, Indiana
and Kentucky where it operates 102
banking centers, while the Commercial Finance business lends into
targeted industry verticals on a nationwide basis. Additional
information about First Financial, including its products, services
and banking locations is available at
www.bankatfirst.com.
About MainSource Financial Group, Inc.
MainSource
Financial Group, Inc. is listed on the NASDAQ National
Market (under the symbol: "MSFG") and is a community-focused,
financial holding company with assets of approximately $4.6 billion. MainSource operates 94
full-service offices throughout Indiana, Illinois, Kentucky and Ohio through its banking subsidiary,
MainSource Bank, Greensburg,
Indiana.
Cautionary Statements Regarding Forward-Looking
Information
Certain statements contained in this press
release which are not statements of historical fact constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, certain plans, expectations,
goals, projections and benefits relating to the transaction between
First Financial and MainSource, which are subject to numerous
assumptions, risks and uncertainties. Words such as
''believes,'' ''anticipates,'' "likely," "expected," "estimated,"
''intends'' and other similar expressions are intended to identify
forward-looking statements but are not the exclusive means of
identifying such statements. Please refer to each of First
Financial's and MainSource's Annual Report on Form 10-K for the
year ended December 31, 2016, as well
as their other filings with the SEC, for a more detailed discussion
of risks, uncertainties and factors that could cause actual results
to differ from those discussed in the forward-looking
statements.
Forward-looking statements are not historical facts but instead
express only management's beliefs regarding future results or
events, many of which, by their nature, are inherently uncertain
and outside of the management's control. It is possible that
actual results and outcomes may differ, possibly materially, from
the anticipated results or outcomes indicated in these
forward-looking statements. In addition to factors previously
disclosed in reports filed by First Financial and MainSource with
the SEC, risks and uncertainties for First Financial, MainSource
and the combined company include, but are not limited to: the
possibility that any of the anticipated benefits of the proposed
Merger will not be realized or will not be realized within the
expected time period; the risk that integration of MainSource's
operations with those of First Financial will be materially delayed
or will be more costly or difficult than expected; the inability to
close the Merger in a timely manner; diversion of management's
attention from ongoing business operations and opportunities; the
failure to satisfy other conditions to completion of the ,
including receipt of required regulatory and other approvals; the
failure of the proposed Merger to close for any other reason; the
challenges of integrating and retaining key employees; the effect
of the announcement of the Merger on First Financial's,
MainSource's or the combined company's respective customer
relationships and operating results; the possibility that the
Merger may be more expensive to complete than anticipated,
including as a result of unexpected factors or events; and general
competitive, economic, political and market conditions and
fluctuations. All forward-looking statements included in this
filing are made as of the date hereof and are based on information
available at the time of the filing. Except as required by
law, neither First Financial nor MainSource assumes any obligation
to update any forward-looking statement.
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SOURCE First Financial Bancorp.