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Through its subsidiary, The Peoples Security Bank of Louisa, Peoples Security operates two offices in Lawrence County. At June 30, 2014, Peoples Security had approximately $48 million in assets and $41 million in deposits.
"This acquisition will allow us to expand financial services and product offerings to the new and current customers within Lawrence County," said V. Burton Bellamy, President CEO of Citizens National Bank. "Additionally, the culture of Peoples Security Bank is similar to our own in that there is strong emphasis on personal service. Customers will expect no less from Citizens National Bank and we are committed to both meeting and exceeding those expectations, as we take banking personally."
John L. Burton, Jr., President and CEO of Peoples Jordan 11 Low Snakeskin Custom
preserve our tradition of community banking and local loan decision making."
Frost Brown Todd LLC, Louisville, Kentucky, served as legal counsel to Citizens National Corporation and VanAntwerp, Monge, Jones, Edwards McCann, LLP, Ashland, Kentucky, served as legal counsel to Peoples Security Bancorp, Inc.
Through its subsidiary, Citizens National Bank of Paintsville, Citizens operates 11 offices throughout Jordan 13 Bred Og
Boyd, Carter, Floyd, Greenup, Johnson, Magoffin and Pike Counties. At June 30, 2014, Citizens had approximately $525 million in assets and $417 million in deposits.
The cash and note transaction is subject to shareholder and regulatory approval and is expected to close before the end of the first quarter of 2015. The purchase price is subject to adjustment, up or down, based on Peoples Security's shareholder's equity at the closing.
Peoples Security merges with Citizens
Security, said, "We're very excited about this new partnership with Citizens National Bank. This is an excellent fit for both companies. Peoples Security Bank and Citizens Jordan 11 Gamma Blue High National Bank share a similar commitment to customers, employees and the communities we serve. This merger will Nike Air Jordan Vi Black
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