Forcht Bancorp, the holding company for Forcht Bank, has signed an agreement to purchase all the outstanding shares of Grant County Bancorp, Williamstown.
Grant County Bancorp operates as the holding company of Grant County Deposit Bank.
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Subject to regulatory as well as shareholder approvals, Grant County Deposit Bank will be integrated into Forcht Bank.
Forcht Bank, president, Tucker Ballinger said, "We’re excited about the opportunity to unite two great community banks that are passionate about providing excellent customer service and giving back to the community."
Forcht Bank manages a branch network of 30 offices across 12 Kentucky counties including Fayette, Jefferson, Boone, Grant, Madison, Taylor, Pulaski, Laurel, Whitley, Knox, McCreary and Green County.
As of 31 March 2014, Forcht Bank had $938m in total assets, while Grant County Deposit Bank has total assets of $79m.
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