CRESTVIEW HILLS, Ky., Oct. 31, 2011 (GLOBE NEWSWIRE) -- The Bank of Kentucky Financial Corporation (Nasdaq:BKYF) ("BKFC"), headquartered in Crestview Hills, Kentucky, announced that its subsidiary, The Bank of Kentucky, Inc. ("The Bank of Kentucky"), opened its first branch in Pendleton County, bringing the total number of local branches to thirty two.
On July 1, 2011, The Bank of Kentucky announced a purchase and assumption agreement with United Kentucky Bank of Pendleton County, Inc. ("United Kentucky Bank"), which included a branch and ATM located at 515 Barkley Street in Falmouth, Kentucky. Under the terms of the agreement, The Bank of Kentucky assumed approximately $26 million in deposit liabilities and $14 million in selected loans. Since July, both institutions have been working together on completing the transaction and preparing the change over of the Falmouth branch. The new branch location further strengthens The Bank of Kentucky's leading market share position held in Northern Kentucky and provides The Bank of Kentucky its first office in Pendleton County.
"We continue to grow in Northern Kentucky and this positive step into Pendleton County allows us the opportunity to engage the Falmouth community, rich in history and tradition," stated Robert Zapp, President & CEO of The Bank of Kentucky. "I'm pleased the former staff of United Kentucky Bank will continue to serve their customers and help us meet the banking needs of businesses and families in the area. Our board of directors and leadership team are very proud to welcome former United Kentucky Bank customers and look forward to becoming a contributing member of the community."
Carol Houchen, Chairman of United Kentucky Bank, stated that "We are excited that The Bank of Kentucky will continue to offer a high level of service to United Kentucky Bank customers and that those customers can find a familiar face at The Bank of Kentucky's new Pendleton County branch."
The former United Kentucky Bank branch officially opens as a branch of The Bank of Kentucky today, October 31, and the branch staff is ready to service customers beginning at 8:00 a.m. A formal celebration will occur on Friday, November 4, and the event is open to the public. The festivities begin at 11 a.m., with a short ribbon-cutting ceremony at 11:30 a.m., and last until 3 p.m. Food and refreshments will be available. In addition, WNKR 106.7 FM will be broadcasting live from The Bank of Kentucky's Falmouth branch during the celebration.
Monday, October 31, 2011
The former United Kentucky Bank branch located at 515 Barkley Street, Falmouth, Kentucky 41040 opens for business at 8:00 a.m. as a branch of The Bank of Kentucky.
Friday, November 4, 2011
Open House from 11:00 a.m. – 3:00 p.m.
Short Ceremony at 11:30 a.m.
RSVP to Rebekah Brock (859) 372-2330 or rbrock@bankofky.com
For more information contact:
Mark Exterkamp
Executive Vice President
Retail Banking
(859) 372-2202
About The Bank of Kentucky Financial Corporation
BKFC, a bank holding company with assets of approximately $1.624 billion, offers banking and related financial services to both individuals and business customers. BKFC operates thirty two branch locations and fifty five ATMs in the Northern Kentucky market.