TERRE HAUTE, Ind – On Monday First Financial Corporation and HopFed Bancorp announced the merger of First Financial and HFBC in a cash and stock transaction.

The board of directors of both institutions have already unanimously approved the deal. It still needs approval from banking regulators. The deal is expected to close in the second quarter this year.

HFBC is headquartered in Hopkinsville, Kentucky and has approximately $905 million in consolidated assets and through Heritage operates 18 bank branches and 3 loan production offices in Kentucky and Tennessee.
First Financial is headquartered in Terre Haute, Indiana and has assets of approximately $3.0 billion and operates 65 banking centers in east-central Illinois and west-central Indiana through First Financial Bank. If the proposed merger is completed as expected, it is anticipated that First Financial will have total combined consolidated assets of approximately $3.9 billion.

The full press release is posted on the First Financial website here.