CBT Corporation announces definitive agreement with Mayfield location of Fifth Third Bank.PADUCAH, Ky.--(BUSINESS WIRE)--Feb. 14, 1997--CBT Corporation, (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 :CBTC CBTC Communications-Based Train Control ) through its wholly-owned subsidiary, Graves County Bank, has reached an agreement to acquire the deposits and facility of Fifth Third Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. of Western Kentucky Kentucky, state, United States Kentucky (kəntŭk`ē, kĭn–), one of the so-called border states of the S central United States. It is bordered by West Virginia and Virginia (E); Tennessee (S); the Mississippi R. , located in Mayfield, Ky. Fifth Third Savings Bank consists of approximately 3,500 accounts with total deposits of approximately $32 million. The purchase is subject to regulatory approval which will take approximately 90 days to complete. As part of this process, Graves County Bank will move its home office to the current facility operated by Fifth Third located at 406 South Seventh Street, Mayfield, Ky. "This expansion of our presence in Western Kentucky is consistent with our strategic plans," stated Bill Jones, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CBT (Computer-Based Training) Using the computer for training and instruction. CBT programs are called "courseware" and provide interactive training sessions for all disciplines. Corporation. Graves County Bank, a $45 million bank currently operates full-service branches at its main office, located on the north side of town, Fancy Farm, and Wingo. Graves County Bank was the first financial institution in the county to open a full-service branch in a supermarket located at the Wal-Mart Supercenter. Once the approval is received, customers of Fifth Third will be able to take advantage of these additional locations to serve their financial needs. "We are excited to add the customers of Fifth Third to our family. We pledge our support to see that any transition is handled with the utmost care and concern for the customers," stated Graves County Bank President Ed Haworth. Graves County Bank is planning a series of promotional campaigns to run after regulatory approval is received to welcome these new customers. The campaign will include special rates on deposits and loan products as well. CBT affiliates include: Citizens Bank & Trust Company 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 Corporation shares are traded on the NASDAQ National Market under the symbol "CBTC." CONTACT: CBT Corporation, Paducah Kathleen O'Toole Kathleen M. O'Toole is the Chief Inspector of the Garda Inspectorate, set up to audit Ireland's national police force, the Garda Síochána and report to Ireland's Minister for Justice, Equality & Law Reform on changes to improve efficiency in line with best international practice. , 502/575-5285 |
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