Porter Bancorp Inc. has entered into a definitive agreement to sell its Burkesville branch to First & Farmers National Bank of Somerset for $800,000 in cash. Porter President and CEO Maria Bouvette said, “The Burkesville branch was acquired as part of a bank acquisition in 2004 and its location is not contiguous to our other banking locations. This is an excellent opportunity for us to sell the Burkesville branch to a bank already in the market.” The Burkesville branch had deposits of approximately $14 million and loans of approximately $6 million as of June 30.
Add Comment