By Kirk Johannesen, The Republic
johannesen@therepublic.com
Leaders of community organizations want First Financial Bank to play a significant role in Columbus and Bartholomew County, similar to the past involvement of Irwin Financial Corp. and Irwin Union Bank.
Hamilton, Ohio-based First Financial bought assets of the failed Irwin Union Bank & Trust and Irwin Union Bank FSB on Sept. 18, and IFC filed for bankruptcy the same day.
First Financial has ties to Columbus dating to 1998. Union Bank & Trust, an affiliate of First Financial Bancorp, opened an office in downtown Columbus, said Cheryl Lipp, first vice president and marketing director for First Financial Bancorp.
For a while, the office was known as Heritage Community Bank, but it has been under the First Financial Bank name for years.
Sherry Stark, president and CEO of The Heritage Fund: The Community Foundation of Bartholomew County, said, "One of the challenges will be their home office is in Ohio. I hope they view Columbus as a second home, and that the community and its causes and needs are a high priority."
Doug Otto, president of United Way of Bartholomew County, said it is unrealistic to expect First Financial to support community projects with the same levels of time and money as the Irwin entities, because FFB is not based in Columbus.
However, First Financial's donations have been generous despite its small presence, Otto added.
Having FFB's employees actively involved in the community will make a difference, Stark said.
"The true value is when you come to the table to set the strategy for the community and problem-solve and share creative vision," Stark said.
Irwin Union supported Columbus Area Arts Council programs, such as mural projects by at-risk youth, and gave annual donations to the council, said Warren Baumgart, Arts Council executive director.
Irwin was a primary supporter of the new Mill Race Center during the capital campaign, and Irwin supported major events by the center, said Bob Pitman, executive director of Senior Center Services.
Irwin also was "a major, generous supporter" of United Way, which provided funding for organizations such as the Senior Center, Pitman noted.
He said he would like First Financial to be active with United Way and the Senior Center.
The per-capita donations of Irwin Financial and Irwin Union employees to United Way were among the top three or four in the community, and, coupled with the companies matching the donations, provided a significant boost, Otto said.
Stark said the contributions and involvement of Irwin Union run "deep and wide," and the tradition, history and engagement of Irwin are irreplaceable.
Involvement important
However, Stark sees positive signs from First Financial because of how active some of its employees have been in Columbus.
Claude Davis, FFB president and chief executive officer; Al Roszczyk, FFB's Indiana regional president; and Tom Dowd, FFB's president of the south central Indiana market formerly worked at Irwin Union. Davis is a former IUB president. Roszczyk and Dowd live in Columbus.
Baumgart said he was relieved to hear that First Financial, a bank with a local presence, had taken over Irwin Union - instead of a large bank with no ties.
He said he thinks First Financial will play an active role in the community.
Baumgart also noted that FFB executives Steve Gochenour, Renee Gorbett and Beth Stroh have been Columbus residents for a while. Gochenour recently joined the Arts Council's board.
Otto said he has personal relationships with some former Irwin Union employees who now work for First Financial, so he thinks they understand the importance of supporting United Way.
"We know and are familiar with Irwin's past involvement in the community and its contributions," Lipp said.
Lipp said First Financial knows this is a big opportunity for a presence in Bartholomew County. The bank will assess to which community projects to commit and support, and is working on a community development plan.
"Our bank has always had a lot of community involvement and it is part of our continuing strategy," Lipp said.
First Financial gave $645,000 in charitable donations in 2007, according to that year's annual report. It focused on three areas: economic development, education and neighborhood development.
In 2007, First Financial pledged $100,000 over four years to the Boys & Girls Clubs of Greater Cincinnati.