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.