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Dr. Ronald P. Rogers CHIROPRACTOR Support for your body's natural healing capabilities 270-384-5554 Click here for details 
  
Columbia Gas Dept. GAS LEAK or GAS SMELL Contact Numbers 24 hrs/ 365 days 270-384-2006 or 9-1-1 Call before you dig 
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DFI steps in to protect Eastern KY bank's customers DFI Takes Possession of Louisa Community Bank, the Department expects no disruption as bank reopens as branch of Kentucky Farmers Bank By Krista Locke Frankfort, KY - At 4 p.m. on Oct. 25, 2019, Commissioner Charles A. Vice of the Department of Financial Institutions (DFI) took possession of Louisa Community Bank, a state-chartered commercial bank headquartered in Louisa, Kentucky, and a member of the Federal Deposit Insurance Corporation (FDIC). Commissioner Vice appointed the FDIC as receiver, and FDIC immediately entered into a purchase and assumption agreement with Kentucky Farmers Bank, Catlettsburg, KY, to assume all Louisa Community Bank deposits. The DFI and FDIC have been closely monitoring Louisa Community Bank and determined that the bank was critically undercapitalized. Earlier this year, both regulatory agencies notified the institution of its capital designation and provided time for the bank to either raise capital or locate an acquisition partner. The bank's actions to address its capital designation were unsuccessful. In accordance with Kentucky Revised Statutes and the FDI Act, Commissioner Vice took possession of the bank to protect customers and the public and placed the bank in receivership. Chartered on Aug. 7, 2006, and headquartered at 4393 Highway 2565, Louisa, Kentucky, Louisa Community Bank had approximately $29.7 million in total assets and $26.5 million in total deposits as of June 30, 2019. In addition to assuming all of the deposits of the failed bank, Kentucky Farmers Bank Corporation agreed to purchase essentially all of the assets. On Saturday, Oct. 26, 2019, Louisa Community Bank will reopen as a branch of Kentucky Farmers Bank and will resume regular business hours. Kentucky Farmers Bank will automatically transfer all customer accounts from Louisa Community Bank to Kentucky Farmers Bank. FDIC insurance will remain in effect for all deposits. The DFI encourages all customers of Louisa Community Bank to continue to use the 4393 Highway 2565 location. Once Kentucky Farmers Bank completes standard system transfers, all branches will be able to process transactions for former Louisa Community Bank customers. Over the weekend, depositors of Louisa Community Bank can access deposited funds by writing checks or using ATM or debit cards. Checks will continue to be processed, and loan customers should continue to make payments as usual. The Department does not anticipate disruption to the Bank's customers and depositors. This story was posted on 2019-10-27 08:39:40
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Third Annual Payne Thanksgiving Dinner to be held 16 November Red Lick United Methodist Church Harvest Day Final two appearances by The Strength Team Coming events in Adair planned by Chamber of Commerce Blakey Quartet at Walnut Hill SBC, Casey Co., KY Thank You to donors helping with Hungry Kids Cafe Enhanced Benefit Program to encourage adoption FM2 Saturday Market and Cafe will be closed due to weather City of Columbia roads, sidewalk work means slower driving Increasing clouds today, high 64, rainy weekend View even more articles in topic News |
 
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