First Financial also 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. Loans that aren’t sold will be retained and serviced by the terms of the loan contracts and deposit customers will be notified, according to First Financial.
“As we execute our strategic plan, we continually evaluate each of our designated markets and specific locations so that our resources are appropriately focused on the best opportunities to maximize value for both the company and our clients,” said Claude Davis, president and chief executive officer of First Financial Bancorp and Bank.
Cincinnati-based First Financial Bancorp is the parent company of First Financial Bank that was founded and is based in Hamilton. Both actions are slated to be effective March of next year.