Citizens National in Paintsville, Ky., has acquired Peoples Security Bancorp in Louisa, Ky.

The $525 million-asset Citizens paid $682 a share for the $48 million-asset Peoples Security.

Citizens had 11 branches prior to the acquisition. Peoples Security had two branches in Lawrence County, Ky., along with $41 million in deposits.

"We are excited to enter the Lawrence County market with physical locations and look forward to bringing our financial services and product offerings to a broader base of customers within Lawrence County," V. Burton Bellamy, Citizens National's president and chief executive, said in a press release.

Frost Brown & Todd advised Citizens National, while VanAntwerp, Monge, Jones, Edwards & McCann advised Peoples Security.

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