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.

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