MainSource Financial Group to Significantly Expand its Louisville Presence with the Acquisition of FCB Bancorp, Inc.
MainSource Financial Group, Inc. (MSFG) ("MainSource" or the "Company") announced today that it has entered into a definitive merger agreement to acquire all of the common stock of FCB Bancorp, Inc. ("FCB") in a cash and stock transaction valued at approximately $56.9 million.
FCB, headquartered in Louisville, is the holding company for The First Capital Bank of Kentucky ("First Capital Bank"), which operates 7 full service branches in greater Louisville. As of September 30, 2016, FCB had approximately $523.6 million in assets, $428.9 million in loans, $390.1 million in deposits and $30.7 million of total equity. Following the merger, it is anticipated that First Capital Bank will operate as a separate subsidiary of MainSource for a short period of time, after which it is anticipated that First Capital Bank will merge with and into MainSource Bank, an Indiana chartered commercial bank and wholly-owned subsidiary of MainSource, with MainSource Bank as the surviving bank.
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