Integra Bank Corp. Divests Five Central Ky Branch Locations

By wmadministrator

Indiana-based Integra Bank Corp. has announced plans to sell its branch locations in Lawrenceburg, Georgetown and Lexington. The sales are part of the company’s decision to “focus on the markets and business lines that have the greatest potential return,” said Integra President and CEO Michael T. Vea.

Integra’s two banking offices in Lawrenceburg are being sold to Town & Country Bank, a Bardstown-based company that dates back to 1907. Town & Country, which had total assets of $359 million as of June 30, operates in full-service banking centers in Nelson, Scott, Woodford and Jessamine counties.

Peoples Exchange Bank of Beattyville, Ky., has agreed to purchase Integra’s two branches in Lexington as well as its Georgetown location. Like Town and Country, Peoples Exchange has a long history of doing business in Kentucky, having been established in 1912. The bank currently has eight full-service banking centers, two loan production offices and four full-service insurance agency locations in Lee, Powell, Montgomery, Clark, Scott and Fayette counties.
As of June 30, Peoples Exchange had total assets of $269 million.
Financial details of the transactions have not been disclosed.

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