CINCINNATI - Fifth Third Bancorp has announced a definitive agreement to acquire Kentucky Enterprise Bancorp, a $280 million-asset thrift company based in Newport, Ky., with 11 offices in four counties.

The offices will be merged into Fifth Third Bank of Northern Kentucky, which has 23 offices in those counties, after the completion of the deal, expected early next year. The deal will make Fifth Third the largest bank in the area, with more than $1 billion of assets, said president and chief executive officer George A. Schaefer Jr.

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