1st Southern Decides Not to Buy Branches
LOUISVILLE, Ky. - Cumberland Federal Savings Bank said First Southern Bancorp of Stanford, Ky., had decided not to buy Cumberland's two branches in Lexington, Ky.
Cumberland, the second-largest thrift in Kentucky, with $1.3 billion in assets, said the deal came apart after federal regulators imposed certain requirements that made the purchase unattractive to First Southern. The companies did not elaborate.
Louisville-based Cumberland Federal said it would not seek another buyer.
