UPDATE 1-First Financial strikes deals with Irwin Financial

NEW YORK, July 1 (Reuters) - First Financial Bancorp (FFBC.O) agreed to buy the branches and some $150 million in loans from Irwin Financial Corp IFC.N, two separate deals it expects to add to earnings next year.

The Cincinnati-based bank said on Wednesday the branch purchase includes about $143 million in deposits, $50 million in select performing commercial and consumer loans, and three banking centers in Indiana.

Irwin Financial said in a separate statement it sold about $190 million of commercial loans in the second quarter, including those purchased by First Financial. In aggregate, Irwin said the loans were sold at 99.8 percent of par value.

First Financial's loan purchase closed June 30. The branch deal is expected to close late in the third quarter of this year, said First Financial, which has about $3.8 billion in assets.

Detailed terms of the purchases were not disclosed.

The branch deal expands First Financial's foothold in Indiana, where it plans to build a new banking center later this year.

The bank expects jobs for most Irwin associates in the acquired branches, locations whose names will change to First Financial when the deal closes. It said none of the purchased loans are 30 or more days delinquent. (Reporting by Jonathan Spicer; Editing Bernard Orr)