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CFO of MainSource lands promotion following sale

October 14, 2017
focus-brief-15col.jpg The MainSource name will disappear from all branches, including this one in the Barnes and Thornburg building on the southeast corner of Meridian and Washington streets. (IBJ file photo)

Cincinnati-based First Financial Bancorp is making changes to its executive lineup as it prepares to acquire Greensburg-based MainSource Financial Group for $1 billion.

The all-stock transaction, valued at $1 billion, was announced in July. After it closes in the first quarter, the MainSource name will disappear and all its offices will operate as First Financial.

Anderson Anderson

MainSource CFO James M. Anderson will become CFO at First Financial. His annual salary will be $360,000, according to a filing with U.S. Securities and Exchange Commission.

The CFO position currently is held by John M. Gavigan, who is becoming First Financial’s chief administrative officer at an annual salary of $310,000.

The merger will make First Financial the 13th-largest bank in the Indianapolis market, with 18 branches and $789 million in deposits, according to a First Financial investor presentation.•
 

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