Banc One Corp. said it will sell 11 Kentucky branches to two community banks.
In separate deals, Columbus- based BancOne said it would sell eight branches to Trans Financial Inc. of Bowling Green and three branches to First Federal Financial Corp. of Elizabethtown. The prices were not disclosed. Trans Financial would purchase $154 million of deposits and $27 million of loans. The branches it is buying are in two counties where it has no presence.
"The western Kentucky market has been a targeted expansion area for some time," said Vince A. Berta, president and chief executive officer of $2 billion-asset Trans Financial. "We are still investigating additional acquisition opportunities in both Kentucky and Tennessee."
Trans Financial already has 48 branches in Kentucky and Tennessee. First Federal, with $391 million of assets, would buy about $72 million of deposits. It operates eight branches in central Kentucky.
The deals are expected to close during the third quarter.