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TRANS FINANCIAL BANCORP, INC. EXPANDS KENTUCKY FRANCHISE

 BOWLING GREEN and MAYSVILLE, Ky., Nov. 9 /PRNewswire/ -- Trans Financial Bancorp, Inc. (NASDAQ: TRFI) and Kentucky Community Bancorp, Inc. today announced that they entered into a definitive agreement providing for Kentucky Community Bancorp, Inc. affiliation with Trans Financial in an all-stock transaction.
 Kentucky Community Bancorp, Inc., headquartered in the northern Kentucky community of Maysville, is the $171 million three-bank holding company for State National Bank (Mason County), Peoples First Bank (Rowan County), and Farmers Liberty Bank (Bracken County).
 Under the terms of the agreement, Kentucky Community Bancorp, Inc. shareholders will receive 5.30 shares of Trans Financial Bancorp, Inc. stock for each share of Kentucky Community stock. Based on Monday's closing price of $16 and approximately 1,375,000 of newly issued shares, the transaction is valued at approximately $22.0 million. It is anticipated that the transaction will constitute a tax-free reorganization and qualify for the pooling of interest method of accounting.
 Douglas M. Lester, chairman and chief executive officer of Trans Financial Bancorp, stated, "Kentucky Community provides an excellent opportunity to expand the Trans Financial franchise into northern Kentucky. Kentucky Community's leading market share and improved financial performance will allow Trans Financial to profitably expand in this area of the state."
 Thomas R. Wallingford, president and chief executive officer of Kentucky Community Bancorp, stated, "Our decision to affiliate with Trans Financial is based in part on our recognition of the capabilities and philosophies of its management, enhanced career opportunities for our employees, and access to a broader array of products and services to enable us to participate more fully in the economic development of the communities we serve."
 Trans Financial anticipates merging the three banks into its commercial bank subsidiary, Trans Financial Bank, N.A., upon the closing of the transaction.
 Trans Financial Bancorp, Inc. serves Kentucky and Tennessee through 37 branches. Its stock is traded in the NASDAQ National Market System under the symbol TRFI.
 TRANS FINANCIAL BANCORP, INC.
 KENTUCKY COMMUNITY BANCORP, INC.
 For the Nine Months Ended Sept. 30, 1993 ($ in thousands)
 Share and per-share data adjusted for the 4-for-3 stock split effective Feb. 1, 1993.
 Trans Kentucky Pro
 Average Balance Sheet Financial Community Forma
 Investments 242,820 50,268 293,088
 Loans, net of unearned 626,006 103,701 729,707
 Earning assets 927,368 161,331 1,088,699
 Assets 1,008,011 171,028 1,179,039
 Deposits 879,561 155,008 1,034,569
 Equity 71,519 13,042 84,561
 Income Statement:
 Interest income 52,522 9,201 61,723
 Interest expense 23,317 3,594 26,911
 Net interest income 29,205 5,607 34,812
 Loan loss provision 1,321 338 1,659
 Non-interest income 9,941 989 10,930
 Non-interest expense 27,904 4,469 32,373
 Pretax income 9,921 1,789 11,710
 Income taxes 2,990 481 3,471
 Cum. effect of FASB 109 91 81 10
 Nei?ncome 6,840 1,389 8,229
 Primary EPS bef. cum.
 effect of FASB 109 0.92 5.06 0.93
 Primary EPS 0.91 5.38 0.93
 Dividends per share 0.3825 0.65 0.3825
 In percentages:
 Return on avg. assets 0.91 1.09 0.93
 Return on avg. equity 12.79 14.24 13.01
 Net interest margin 4.21 4.65 4.28
 Net non-int. exp./avg. assets -2.38 -2.72 -2.43
 Efficiency ratio 71.28 67.75 70.77
 Average shares - primary 7,520 258 8,895
 Transaction Summary
 Exchange ratio 5.30
 Price to 9/30/93 book 1.66X
 Price to 9/30/93 tangible book 1.91X
 Multiple of trailing 12 mos. earnings 12.8X
 End of Period Balance Sheets
 Securities, held to maturity 243,451 50,042 293,493
 Loans, net of unearned 752,466 104,276 856,742
 Loans held for sale 35,129 289 35,418
 Loan loss reserve 8,288 1,963 10,251
 Earning assets 1,084,216 161,437 1,245,653
 Assets 1,178,743 171,296 1,350,039
 Deposits 1,002,462 154,388 1,156,850
 Equity 74,308 13,220 87,528
 Goodwill 5,360 1,721 7,081
 Book value 10.03 51.17 9.97
 Nonaccrual loans 6,522 598 7,120
 Restructured loans 35 0 35
 90 days past due 1,065 443 1,508
 Total nonperforming loans 7,622 1,041 8,663
 OREO 6,938 330 7,268
 Total nonperform. assets 14,560 1,371 15,931
 Net charge-offs 972 355 1,327
 In percentages:
 NPLs/Loans 1.01 1.00 1.01
 NPAs/Assets 1.24 0.80 1.18
 Loan loss reserve 1.10 1.88 1.20
 Net charge-off ratio 0.21 0.46 0.24
 Tier 1 leverage ratio 5.88 6.78 5.99
 Total risk-based capital ratio 13.84 12.43 13.68
 -0- 11/9/93
 /CONTACT: In Bowling Green: Douglas M. Lester, 502-745-7550, or Vince Berta, 502-745-7504; in Maysville: Thomas R. Wallingford, 606-564-3381/
 (TRFI)


CO: Trans Financial Bancorp, Inc.; Kentucky Community Bancorp, Inc. ST: Kentucky, Tennessee IN: FIN SU: TNM

LG-JS -- NY089 -- 2349 11/09/93 14:42 EST
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Date:Nov 9, 1993
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