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Under the deal, First Financial Bank will purchase about $150 million in performing loans, three banking centers, and additional $50 million in select performing commercial and consumer loans from Irwin Union Bank.

First Financial expects the proposed purchase of the three banking centers to close late in the third quarter of 2009.

First Financial anticipates the combined transactions to be accretive to earnings in 2010, the first full year of integration.

The acquired Irwin banking centers will operate under the First Financial Bank name immediately after the transaction closes. First Financial expects to offer positions to most Irwin associates of the banking centers being acquired.

Shelbyville and Greensburg will become part of First Financial's South Central Indiana market, headed by market president, Tom Dowd.

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