CBT Corporation announces definitive agreement to acquire Murray location of Republic Bank & Trust.PADUCAH, Ky.--(BUSINESS WIRE)--April 2, 1997--CBT Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM: CBTC CBTC Communications-Based Train Control ) has reached a definitive agreement with Republic Bank & Trust to acquire the Murray, Ky. office of that bank. In the agreement, CBT (Computer-Based Training) Using the computer for training and instruction. CBT programs are called "courseware" and provide interactive training sessions for all disciplines. Corp. will purchase the deposits and fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → of the Republic Bank office for an undisclosed amount. The loan portfolio will not be acquired in the transaction. The Murray bank will then become a part of CBT's United Commonwealth Bank operation. The acquired office has $20 million in deposits and will bring United Commonwealth Bank's deposits to approximately $75 million. Subject to regulatory approval, the Republic Bank office should become part of United Commonwealth Bank in 90 days. "We are excited about serving the former Republic Bank customers and welcome them to United Commonwealth Bank," said John Peck John Peck played for Hawthorn from 1954 to 1968. He topped the leading VFL goalkicking in three successive years in 1963-65. , president of United Commonwealth Bank. CBT Corp. is a five bank holding company headquartered in Paducah, Ky. CBT reported assets of $960 million at year end 1996. This acquisition will give CBT's United Commonwealth Bank affiliate a stronger presence in Murray. CBT Affiliates include: Citizens Bank & Trust Co. in Paducah, Ky.; Pennyrile Citizens Bank & Trust in Hopkinsville, Ky.; The Bank of Marshall County Marshall County is the name of twelve counties in the United States:
CBT Corp. shares are traded on the NASDAQ National Market under the symbol "CBTC." CONTACT: CBT Corp., Paducah Kathleen O'Toole, 502/575-5285 |
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