Kentucky Farmers Bank Corporation Assumes All of the Deposits of Louisa Community Bank — 2019-10-25

WASHINGTON – Louisa Community Bank in Louisa, Ky., was closed today by the Kentucky Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Kentucky Farmers Bank Corporation in Catlettsburg, Ky., to assume all of the deposits of Louisa Community Bank. The sole branch of Louisa Community Bank will reopen as a branch of Kentucky Farmers Bank Corporation on Saturday, October 26, 2019. Depositors of Louisa Community Bank will automatically become depositors of Kentucky Farmers Bank Corporation. Deposits will continue to be insured by the FDIC, so customers do not need to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits.