Forcht Bank to acquire Grant County Deposit Bank

Williamstown bank has total assets of $79 million

LEXINGTON, Ky. (June 12, 2014) — Forcht Bancorp, Inc., the holding company for Forcht Bank, N.A., announced it has reached an agreement to acquire all the outstanding shares of Grant County Bancorp, Inc. of Williamstown, Ky., the holding company of Grant County Deposit Bank. Upon regulatory and shareholder approval, Grant County Deposit Bank will be merged with and into Forcht Bank.

“We’re excited about the opportunity to unite two great community banks that are passionate about providing excellent customer service and giving back to the community. Grant County Deposit Bank has served this community since 1882 and has the same vision and mission as we do,” said Tucker Ballinger, President of Forcht Bank.

Forcht Bank operates 30 banking centers in 12 Kentucky counties — Fayette, Jefferson, Boone, Grant, Madison, Taylor, Pulaski, Laurel, Whitley, Knox, McCreary and Green County —and has total assets of $938 million. Grant County Deposit Bank has total assets of $79 million.

“We’re pleased that we’ve found in Forcht Bank a partner that shares the same community banking philosophy and commitment to customer service,”  said Tom McCandless, president of Grant County Deposit Bank. “By combining with Forcht Bank, we’ll have the resources and talent to continue that tradition of service while offering our customers many new financial products and services.”