Other locations to be closed are in north Ohio and south central Indiana, according to Lefferson. The closings should be effective by March.
An approach is being developed to have the best outcome for employees and the company, according to Jenny Irey, a spokeswoman for First Financial.
“First Financial Bank is among the strongest in the industry right now and we continue to achieve high performance results,” said Lefferson in a statement. “Our growth strategy includes aligning our retail model with the needs of our clients while directing resources where we see the greatest potential for growth and success.”
Resources and investments are being shifted to core markets including Cincinnati and Dayton, Indianapolis and southern and northwest Indiana, Lefferson said.
First Financial on Wednesday announced plans to exit markets in Michigan and Kentucky. The bank acquired five locations last year from Irwin Union Bank and Trust Company and Irwin Union Bank. First Financial plans to sell loans in Grandville, Kalamazoo, Lansing and Traverse City, Mich., and Louisville, Ky.
First Financial expects to save $5.3 million a year in operating expenses by exiting Michigan and Louisville.
Cincinnati-based First Financial Bancorp is the parent company of First Financial Bank, which was founded and is based in Hamilton.
Contact this reporter at (513) 705-2551 or clevingston@coxohio.com.
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