Kentucky

Poage Bankshares in Ashland, Ky., has promoted Thomas Burnette to chairman of the boards of the company and its Town Square Bank subsidiary.

Farmers Capital Bank in Frankfort, Ky., plans to extinguish $15 million of subordinated debt. The $1.8 billion-asset company expects to record a $4.1 million pretax gain during the first quarter from the transaction.

The $933-million asset institution said in a press release Tuesday that the technology, provided by Louisville-based R.C. Giltner Services, will enable consumer and small-business customers to complete the loan application process in minutes.

First United Bancorp in Madisonville, Ky., has agreed to buy Town & Country Financial in Beaver Dam, Ky.

The $30.2 million-asset Citizens, in Hartford, Ky., agreed to pay a 1.77% premium for the branch's average daily balance of assumed deposits for the ten days prior to the closing date.

Old National said that by owning the branches instead of leasing them, it would have greater control of the properties, classify the branches as assets on its balance sheet and become more efficient.

Republic Bancorp in Louisville, Ky., has agreed to buy Cornerstone Bancorp in St. Petersburg, Fla.

First Cecilian Bancorp in Cecilia, Ky., has agreed to buy Farmers Bancshares in Hardinsburg, Ky.

Porter Bancorp in Louisville, Ky., has Edmond Seifried to its board. Seifried, 68, is executive director of the Sheshunoff Affiliation Program, which provides education and an idea exchange to community bankers.

Poage Bankshares in Ashland, Ky., has promoted its bank president to chief executive, following the resignation of Ralph "Gene" Coffman.