Bank of Henderson in Kentucky has agreed to buy Harrison Bancorp.
Bank of Henderson did not disclose the price, though Dale Sights, the $78 million-asset bank's president and chief executive, said that he expects to complete the acquisition next month. The bank, which has two branches in western Kentucky, had a total risk-based capital ratio of 14.6% at June 30.
The seller has $50 million in assets and a pair of branches in Cynthiana, Ky. Its Harrison Deposit Bank & Trust had a total risk-based capital ratio of 21.4% at June 30 and nonperforming loans made up just 0.03% of total loans.
