First Financial Bancorp (Nasdaq: FFBC) has completed its acquisition of Westfield Bancorp, Inc. from Ohio Farmers Insurance Company, in a bid to strengthen its specialty lending services.
As part of the transaction, Oak Street Funding - a wholly-owned subsidiary of First Financial Bank - will integrate with Westfield Bank’s insurance agency and registered investment advisor (RIA) lending segments.
Oak Street Funding, based in Indianapolis, has specialized in providing capital to the insurance sector since 2003. Over the past decade, it has expanded to serve the RIA industry with non-SBA financing. By aligning with Westfield Bank’s niche lending operations, the firm intends to deepen its reach into these industries and offer more comprehensive solutions.
“This partnership underscores both organizations' commitment to delivering exceptional service and innovative financial solutions to unique industries,” said Rick Dennen, CEO of Oak Street Funding and chief corporate banking officer of First Financial Bank.
“Together, we will aim to set a new benchmark for these industries,” he added.
Until the integration is complete - anticipated in March 2026 - Westfield Bank’s retail operations and specialty lending units will continue under the “Westfield Bank” name. Clients will be notified with account transition details in due course. Oak Street Funding and First Financial clients are not expected to be impacted during the transition.
As of September 30, 2025, First Financial Bancorp held $18.6 billion in assets and operated 127 banking centers across Ohio, Indiana, Kentucky, and Illinois. The bank’s commercial finance arm provides lending solutions nationwide, targeting specialized industry verticals.
Oak Street Funding will continue to offer its tailored financing solutions while benefiting from the added resources and talent of the newly integrated teams.
