MainSource Hits Record Profit Ahead of Merger

Posted: Updated:
(photo courtesy MainSource Bank) (photo courtesy MainSource Bank)
GREENSBURG -

Greensburg-based MainSource Financial Group Inc. (Nasdaq: MSFG) is reporting record full-year net income of $49.4 million in 2017, up from $38.3 million the previous year. Chief Executive Officer Archie Brown says the results are largely due to the bank's acquisition of FCB Bancorp in April.

The parent of MainSource Bank is also reporting record fourth quarter net income of $16.6 million, up from $11.7 million during the same quarter in 2016. Brown says the bank continues to work toward completing its $1 billion merger with Cincinnati-based First Financial Bancorp (Nasdaq: FFBC).

"Our team is fully engaged in integration activities and the process is going very well," said Brown. "We believe the combination with First Financial will create a 'best-in-class' banking company that serves its customers in a very personal way while providing great products. Our goal is for the combined company to achieve top quartile performance for its shareholders."

The merger was first announced in July 2017. Brown says the merger remains on track for completion in the first quarter of 2018, with the integration of the two banks set to be complete in the second quarter. The combined entity will continue under the First Financial brand.

You can connect to MainSource's full earnings report by clicking here.

  • Perspectives

    • Retirement Communities - What's The Appeal?

      If you are retired, or soon to be, selling your home may be a consideration. But before you downsize to a smaller home, check out Continuing Care Retirement Communities. They have a big advantage other housing can't match! Continuing Care Retirement Communities (CCRCs), or life care communities, are facilities that...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Triple XXX Root Beer Appears in Prime Time

      A soft drink that carries the name of an iconic West Lafayette restaurant has been featured on a national television series. In a message on the Triple XXX Family Restaurant's Instagram page, co-owner Carrie Ehresman said the recent appearance of Triple XXX Root Beer on NBC's "Chicago Fire" was not product placement. She said the show's producers reached out through the restaurant's website and "we weren't sure we'd make the final cut until it aired!"

    • Parkview Plans Regional Medical Center Expansion

      Fort Wayne-based Parkview Health has announced plans to expand its Parkview Regional Medical Center campus. The health system says the project includes a new six-story, 168,000-square-foot medical tower. The new facility will allow the hospital to add 72 inpatient beds. 

    • Speedway Redevelopment Not an 'Overnight Success'

      The town manager of Speedway says activities related to this weekend's 102nd running of the Indianapolis 500 will benefit the community the whole year. Jacob Blasdel says developments that along the Main Street district -- such as the mixed-use Wilshaw housing project, a soon-to-be-built hotel, Daredevil Brewing Co.'s headquarters and The Dallara IndyCar Factory -- continue to drive additional investors to consider the area. The recent interest and growth, Blasdel says, started...

    • Indiana Enhancing Partnership With Slovakia

      Governor Eric Holcomb has signed a memorandum of understanding with the minister of economy from Slovakia. The Indiana Economic Development Corp. says the partnership aims to build on the established relationships between Indiana and Slovakia "while advancing collaborative efforts toward two-way investment, trade and workforce development."

    • Anthem Partnership Aims to Improve Health Care Delivery

      Indianapolis-based Anthem Inc. (NYSE: ANTM) has announced a partnership with the Wharton School at the University of Pennsylvania. The collaboration involves the study and pilot of new ideas in an effort to improve health care quality, accessibility and affordability.