Amsouth Bancorp is selling its four Kentucky branches to Integra Bank Corp. of Evansville, Ind., for an undisclosed sum.
The deal was announced Friday and is expected to close in the fourth quarter.
Beth Mooney, senior executive vice president at Amsouth in Birmingham, Ala., said the company is selling the four branches - all in the city of Bowling Green - to concentrate on markets where it has a more substantial presence.
The $42.6 billion-asset company, with 600 branches, ranks among the market share leaders in Tennessee, Alabama, Florida, and Mississippi and also operates branches in Louisiana, Georgia, and Virginia.
By acquiring the four branches, $2.5 billion-asset Integra would gain the No. 1 market share in Bowling Green, a city of 80,000 in western Kentucky. It would acquire certain loans, other assets, and $185 million of deposits.
"The I-65 Corridor between Bowling Green and Tennessee is one of the fastest-growing regions in the country," said Michael T. Vea, Integra's chairman, president, and chief executive officer.
Integra, formerly known as National City Bancshares, operates 66 branches in Indiana, Kentucky, Illinois, and Ohio.
