Kentucky

The Defense Department's decision to bar service members from using the military's discretionary allotment system will reduce Farmers Capital's annual process revenue by nearly $1.5 million.

Farmers Capital Bank in Frankfort, Ky., said a change in the rules governing allotments by active-duty service members will shave more than $800,000 off its bottom line next year.

Porter Bancorp in Louisville, Ky., is rearranging some of its capital with an eye toward improving common equity and perhaps making its pursuit of additional funds easier.

Republic Bancorp in Louisville, Ky., reported higher third-quarter profits, driven by a combination of organic loan growth and asset quality improvements.

BB&T was not the first choice for Bank of Kentucky when it negotiating to sell itself. But when two preferred suitors failed to provide revised draft terms to Bank of Kentucky by an Aug. 11 deadline, it opened a window for BB&T.

Poage Bankshares in Ashland, Ky., has agreed to acquire Commonwealth Bank in Mount Sterling, Ky.

BB&T has agreed to buy the Bank of Kentucky for $363 million in cash and stock. The acquisition would allow the $188 billion-asset BB&T to expand in the northern Kentucky and Cincinnati region, where the $1.9 billion-asset Bank of Kentucky operates 32 branches.

Republic Bancorp (RBCAA) in Louisville, Ky., reported a slight bump in second-profits due to modest loan growth but results were tempered somewhat by a sharp drop in mortgage banking income.

Community Trust Bancorp (CTBI) in Pikeville, Ky., said Wednesday that its second-quarter earnings climbed 2% from the same period last year, to $12.2 million, due to improved loan quality and lower overhead.

The National Credit Union Administration has liquidated IBEW Local 816 Federal Credit Union in Paducah, Ky.

NASHVILLE, Tenn. and LOUISVILLE, Ky. — The Tennessee Department of Financial Institutions gave the nod to the proposed merger of Kentucky Corporate Credit Union and Volunteer Corporate Credit Union, the final step toward completing the union, VolCorp reported.

NASHVILLE — The merger between Kentucky Corporate FCU and Volunteer Corporate CU moved a step closer to completion with NCUA approving the deal earlier this month in a closed meeting.

Forcht Bancorp in Lexington, Ky., has agreed to buy Grant County Bancorp of Williamstown, Ky. Financial terms of Forcht's agreement to buy the $79 million-asset Grant Country Bancorp were not disclosed.

Poage Bankshares (PBSK) has fended off a proxy challenge from activist investor Joseph Stilwell.

Republic Bancorp (RBCCA) of Louisville, Ky., announced Monday the merger of two of its subsidiaries: Republic Bank, a federally chartered savings association, and Republic Bank & Trust Co., a state-chartered commercial bank.

Community Bank Shares of Indiana (CBIN) in New Albany has agreed to buy First Financial Service (FFKY) in Elizabethtown, Ky.

First Security in Owensboro, Ky., has raised $30 million through a private placement. The $500 million-asset company said it would use the funds for organic growth and "acquisitive opportunities."

Poage Bankshares (PBSK) in Ashland, Ky., and an activist investor have sent competing letters to shareholders ahead of next month's annual meeting.

The president and chief executive of Town & Country Bank and Trust in Bardstown, Ky., is reportedly stepping down.

Farmers Capital Bank (FFKT) in Frankfort, Ky., has received regulatory approval to repurchase some of its preferred stock.