Farmers Capital Bank in Frankfort, Ky., will consolidate its four banks under a single charter.

The $1.8 billion-asset company said in a press release Thursday that it will also consolidate FCB Services, its data processing unit, into the bank, which will be called United Bank & Capital Trust. The merger is expected to close in January.

"We will be stronger as one bank to meet the demands of our growing markets," Lloyd Hillard Jr., Farmers Capital's president and chief executive, said in the release. "We believe that operating as one bank will offer enhanced opportunities to better serve our communities and provide more value to our customers."

The bank will be governed by a new board consisting of members from the boards of the current subsidiaries. Hillard will be the bank's chairman and CEO.

The bank will have four regions, with Michael Schornick Jr., Rickey Harp, Michael Hill and Scott Conway serving as regional presidents.

Farmers Capital said it is still assessing the one-time nonrecurring costs associated with the merger, along with the annual savings to be realized.

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