The two companies announced that they were merging Monday afternoon. The cash and stock deal is worth approximately $54.5 million.
The new company will have about $860 million in assets.
"Blending the high performance cultures of both First Federal and Community Bank into one will create a financial services company that is well positioned to return great value to shareholders, customers, employees and the communities it serves," FedFirst CEO Patrick G. O'Brien said.
TheStreet Ratings team rates FEDFIRST FINANCIAL CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FEDFIRST FINANCIAL CORP (FFCO) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations, increase in stock price during the past year, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."