FCB OF WESTERN KENTUCKY, INC. ANNOUNCES AGREEMENT TO ACQUIRE THE BALLARD COUNTY OFFICES OF FSNB07-Nov-2013
Contact: Bruce Kimbell
FIRST COMMUNITY BANK OF WESTERN KENTUCKY, INC. ANNOUNCES AGREEMENT TO ACQUIRE
THE BALLARD COUNTY OFFICES OF
FIRST SOUTHERN NATIONAL BANK
Clinton, KY. (November 6, 2013) – First Community Bank of Western Kentucky, Inc. (FCB), with offices in Clinton, Fancy Farm and Kevil today announced that it has entered into a purchase agreement to acquire the two Ballard County (KY) branch locations of First Southern National Bank (FSNB), Stanford, KY.
Under the agreement, FCB will acquire the deposit relationships, certain loan relationships, real estate and fixed assets of FSNB’s branch offices in Wickliffe and Kevil, KY. The transaction is subject to regulatory approval and customary closing conditions and is expected to close in the first quarter of 2014.
Commenting on the announcement, Bruce Kimbell, President of FCB, said, “We greatly value the relationship we have developed with FSNB during the negotiation of this transaction and look forward to moving the process forward. This acquisition will greatly enhance our Ballard County and west McCracken County operations as we look to bring FCB’s brand of community banking to an even wider service area.”
FCB presently has Ballard County offices in Kevil and one under construction in La Center with a planned opening in December, 2013.
Clifton Larson Allen and Williams, Williams & Lentz CPA’s served as financial advisors with Stites & Harbison PLLC acting as legal counsel to FCB.