Nashville Bank Buys Kentucky Lender in $51.9米的交易

世界赌博十大网站 is buying its way into Kentucky.

On Tuesday, the Nashville-based lender announced its acquisition of FNB Financial Corp., the parent company of Farmers National Bank of Scottsville. 这笔交易 gives the $6 billion bank its first presence in two Kentucky markets: Bowling Green and Scottsville, which are both roughly an hour north of Nashville.

The cash-and-stock deal is valued at $51.900万年.

这笔交易 comes less than two months after 世界赌博十大网站 CEO 克里斯•福尔摩斯 told analysts officials expected to announce their next bank deal by the end of the year. Since taking 世界赌博十大网站 public, Holmes hasn’t been coy 十大正规网投信誉平台 his desire to grow 世界赌博十大网站’s footprint, emphasizing the bank’s desire to push into contiguous markets, including Southern Kentucky.

“Farmers National is a high quality community bank in a shrinking landscape of quality community banks, and we appreciate their faith in this combination with us,” Holmes said in a statement. “We continue to pursue similar opportunities and hope for additional successes in the coming months.”

去年，第一银行 paid $38 million for 14 branches, many of which were in Knoxville and Chattanooga, from Atlanta-based Atlantic Capital Bancshares (Nasdaq: ACBI). 2017年，第一银行 花了284美元.2 million to snap up two banks: Knoxville’s Clayton Bank and 信任 and Tullahoma’s American City Bank.

六月底, Farmers National had $253 million in total assets, $204 million in total deposits and $178 million in total loans, according to a news release. That’s less than 5% of 世界赌博十大网站’s size.

To be sure, 28% of those deposits are noninterest bearing, the release states. This means 世界赌博十大网站 will have access to a new base of stable, 低成本存款, which are increasingly rare in Greater Nashville. Keeping deposit costs low is vital for community lenders to gain a bigger return on their loans.

丹·哈比森, CEO of Farmers National, will manage 世界赌博十大网站’s Kentucky presence once the deal is finalized.

这笔交易, subject to approval from shareholders and regulators, is expected to close in the first quarter of 2020.

Waller Lansden Dortch & Davis LLP served as 世界赌博十大网站’s legal adviser. Mercer Capital served as Farmers National’s financial adviser, and Daniel W. Small & Co. served as its legal adviser.

世界赌博十大网站 51美元.900万年 deal is the second Middle Tennessee-based bank deal in as many days. On Monday, Brentwood-based Reliant Bank 宣布售价37美元.2 million acquisition of Ashland City-based 社区 Bank & 信任.