LOUISVILLE -- Liberty National Bancorp said it adopted a shareholder rights plan to protect the interests of its shareholders in the even of a takeover attempt.

As part of the plan, the company declared a dividend of one right per share, with a payable and record date of Sept. 11.

The rights would be distributed on the 20th business day after such a circumstance as the announcement that a person or group had acquired 20% or more of Liberty's outstanding stock or the beginning of a tender offer that would result in a person or group's owning 30% or more of the shares.

The $4.3 billion-asset holding company said the program is not a response to any takeover effort and the board isn't aware of any such attempt.

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.