First Financial Bancorp announced that the former Irwin Franchise Capital Corporation (IFCC) changed its name to First Franchise Capital Corporation. The new name is effective immediately.
First Financial Bancorp acquired the company in September of 2009 when its principal banking subsidiary, First Financial Bank, N.A., acquired certain assets and liabilities of Irwin Union Bank and Trust of Columbus, Indiana.
“First Financial Bancorp is a well capitalized, publicly traded company,” says First Franchise Capital president John Rinaldi. “Our increased access to capital will allow us to grow as an industry leader in the franchise finance industry.”
First Franchise Capital Corporation is retaining its current staff, its headquarters in Park Ridge, New Jersey, and its market focus. The company will continue to lend to tenured franchise restaurant owners in the nation’s top brands. The company finances equipment and real estate for new store development, remodels, acquisitions, refinancing, and partnership restructuring.