Hopkinsville-based Planters Bank has announced the intention to acquire five Old National Bank branches in western Kentucky.
A news release says the branches are in Princeton, Providence, Dawson Springs, Sebree and Sturgis. Planters will assume approximately 92-million dollars in deposit liabilities, but will not acquire any loans.
The transaction will be complete within the next 90 to 120 days if all goes as planned and subject to regulatory approval. Planters CEO Elizabeth McCoy says the opportunity to expand the bank’s presence further into Western Kentucky is a positive move both for the bank and the five communities.