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First Financial Bank Completes Acquisition of Bannockburn Global Forex, LLC

September 04, 2019, 08:00 AM

First Financial Bancorp. (FFBC) announced it has completed its previously announced acquisition of Bannockburn Global Forex, LLC, a Cincinnati-based capital markets firm that provides transactional currency payments, foreign exchange hedging, and other advisory products to more than 1,500 closely held enterprises, financial sponsors, and downstream financial institutions across the United States.

"We are excited to welcome Bannockburn Global Forex to the First Financial team," said Archie Brown, president and chief executive officer of First Financial Bank. "Since we announced our agreement to acquire Bannockburn, we've received a very enthusiastic response from clients and members of the business community. The addition of this experienced team and its capital market offerings creates tremendous opportunities for our bank, clients and shareholders."

Bannockburn has completed more than $90 billion of transaction volume through more than 150,000 secure transactions since it was founded in 2009. It brings deep industry expertise, with a primary focus on small- and middle-market clients that have a need for tailored foreign exchange solutions. Bannockburn has a nationwide presence with offices in 10 locations throughout the U.S.

Bannockburn becomes a division within the Commercial Banking group of First Financial Bank and will continue to operate under the Bannockburn name, which is well recognized in the foreign exchange industry. Senior Managing Partner Mark R. Wendling and the rest of Bannockburn's leadership will continue in their positions in the new Bannockburn Global Forex division of the Bank.

"We are grateful for the support of our early financial sponsors and shareholders throughout our first ten years in business," Mr. Wendling added. "Partnering with First Financial positions us to accelerate our growth and continue to provide high-touch customized currency offerings for our global clients."

The agreement with Bannockburn is the latest acquisition for First Financial Bank, contributing to the company's growth strategy and building on its shareholder value.

First Financial's financial advisor on the transaction was Lazard, and its legal counsel was Vorys, Sater, Seymour and Pease LLP. Bannockburn's legal advisor was Squire Patton Boggs LLP.

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