Area Bancshares Corporation Affiliates Become AREA Bank; Banks Change Name But Remain Focused On Hometown Service.

Business Editors

OWENSBORO, Ky.--(BUSINESS WIRE)--Aug. 16, 2000

On Monday, Area Bancshares Corporation (Nasdaq:AREA) begins its first phase of consolidating 16 affiliate banks into a statewide network under one name, AREA Bank, giving customers more convenience, more service and a wider range of financial products.

The first AREA Bank affiliates to make the transformation are Owensboro National Bank, Broadway Bank & Trust in Paducah, Peoples Bank of Murray, Dees Bank of Hazel, The Bank of Livingston County and The Bank of Lyon County. Those banks have a total of 23 locations. The remainder of the banks will adopt the AREA Bank name October 1.

"Establishing one common name for our network will give our customers convenient access to 72 statewide banking locations and 98 ATMs in Kentucky communities," said Thomas R. Brumley, president and CEO of Area Bancshares Corporation. "We'll bring our customers the expertise and resources of the largest Kentucky-based bank network, but with the local market sensitivity and ability to respond like a hometown bank."

According to Brumley, although the bank names will change, the way the bank conducts business won't. Local ties will be maintained in all markets and presidents of the current banks will continue to have responsibility and accountability for local operations.

"When customers visit their local AREA Bank location, they'll still see the same friendly faces of tellers, lenders, managers and customer service representatives that have handled their financial needs in the past," said Brumley. "Each community will still have a board of directors made up of local civic and business leaders focused on that community and its citizens."

Vine Street Trust Company in Lexington, which is part of the AREA Bank network, will retain its name.

In addition to installing new signage, AREA Bank will launch a print and radio advertising campaign in the communities where banks are undergoing the name change.

Area Bancshares Corporation, headquartered in Owensboro, Ky., is the largest bank holding company based in Kentucky. The company currently has 17 subsidiary banks headquartered in Somerset, Bowling Green, Paducah, Calhoun, Hopkinsville, Springfield, Harlan, Louisville, Glasgow, Owensboro, Winchester, Russellville, Murray, Grand Rivers, Hazel, Eddyville and Lexington. Area Bancshares Corporation has 72 Banking Centers and 98 ATMs throughout Kentucky.