LOUISVILLE, Ky.--Shareholders of Cumberland Federal Bancorp. and its subsidiary, Cumberland Federal' Savings Bank, have approved its merger with Fifth Third Bancorp.
Fifth Third's $149 million stock acquisition of Comberland, which has $1.1 billion of assets, is expected to close this quarter. Cumberland's 43 offices in 12 Kentucky counties will become full-service Fifth Third banking centers, and the bank will be part of a new holding company, Fifth Third Kentucky Bancorp, headed by Cumberland chairman H. David Hale.
Nine of the Cumberland offices are in Kroger supermarkets and will be open seven days a week.
