M&A Deal Summary

First Financial Bank Acquires Summit Funding Group

On December 7, 2021, First Financial Bank acquired financial services company Summit Funding Group

Acquisition Highlights
  • This is First Financial Bank’s 11th transaction in the Financial Services sector.
  • This is First Financial Bank’s 11th transaction in the United States.
  • This is First Financial Bank’s 7th transaction in Ohio.

M&A Deal Summary
Date 2021-12-07
Target Summit Funding Group
Sector Financial Services
Buyer(s) First Financial Bank
Deal Type Add-on Acquisition
Advisor(s) Keefe, Bruyette, & Woods, Inc. (Financial)
Taft Stettinius & Hollister (Legal)

Target

Summit Funding Group

Mason, Ohio, United States
Summit Funding Group is an independent equipment financing platform that manages a portfolio with an aggregate original equipment cost of approximately $1 billion and outstanding balances of approximately $500 million, across over 4,000 leases. Summit Funding Group was founded in 1993 and is based in Mason, Ohio.

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Buyer(S) 1

Buyer

First Financial Bank

Cincinnati, Ohio, United States
Category Company
Founded 1863
Sector Financial Services
Employees2,108
Revenue 709M USD (2022)
DESCRIPTION

First Financial Bank is a mid-sized, regional bank holding company. First Financial engages in the business of commercial banking and other banking and banking-related activities through its wholly owned subsidiary, First Financial Bank. The range of banking services provided by First Financial to individuals and businesses includes commercial lending, real estate lending, and consumer financing. In addition, a full range of trust and wealth management services is also provided through First Financial’s Wealth Management division. First Financial Bank was incorporated in 1863 and is based in Cincinnati, Ohio.

DEAL STATS #
Overall 11 of 11
Sector (Financial Services) 11 of 11
Type (Add-on Acquisition) 9 of 9
State (Ohio) 7 of 7
Country (United States) 11 of 11
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-19 Bannockburn Global Forex

Cincinnati, Ohio, United States

Bannockburn Global Forex LLC is a provider of currency trading services headquartered in Cincinnati, Ohio with regional sales offices located in New York, Kansas City, Chicago, Richmond, and Santa Monica. The company specializes in foreign exchange hedging and settlement transactions as well as currency-related advisory services for corporate and institutional clients.

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Legal