First Financial acquiring BankFinancial

First Financial, with branches in Kankakee, Watseka and Hoopeston, said it is acquiring Chicago-based BankFinancial in an all-stock transaction.

The announcement was made Monday, according to a news release.

First Financial has had locations in Kankakee, Watseka and Hoopeston since the First Financial merger with MainSource Bank in 2018. MainSource acquired the locations in 2006, according to Tim Condron, director of corporate communications for First Financial Bank.

This acquisition expands First Financial’s presence in the Chicagoland market with a strong core deposit franchise including 18 financial centers, according to the release.

The acquisition also builds on First Financial’s existing commercial banking presence in the Chicagoland market, according to the release.

“We are excited to add consumer banking and lending solutions to the existing lineup of commercial services offered to Chicago businesses,” Archie Brown, president and chief executive officer of First Financial, said in the release.

“The addition of BankFinancial’s retail financial centers enables us to continue our Midwest growth strategy and provides Chicago clients a broader range of banking and specialty solutions to help them meet their financial goals. This partnership is truly complementary to our existing Chicago presence and provides capacity for incremental growth in the market.”

The transaction is expected to close in the fourth quarter of 2025, according to the release.