PNC Bank Corp., Pittsburgh, has deals to sell eight branches in rural areas to two community banking companies.

Community Trust Bancorp, Pikeville, Ky., will buy five branches from the $72 billion-asset banking company for an undisclosed price.

The agreement calls for $1.9 billion-asset Community Trust to get about $195 million of deposits and $50 million of loans in the branches.

Community Trust, currently with 56 branches, recently announced a separate deal to buy seven branches from Banc One Corp.

PNC also signed an agreement to sell three branches in Indiana to Indiana United Bancorp, Greensburg, Ind. Indiana United, with $361 million of assets, would pick up $55 million of deposits and an undisclosed amount of loans.

Indiana United, the parent of Union Bank and Trust Co., has also agreed to buy a branch each from First of America and Union Federal Savings Bank, both of Indianapolis.

The PNC deals are expected to close in the third quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.