Farmers Deposit Bank of Middleburg is in the process of being bought by Citizens Bank & Trust Co., based in Jackson. Monticello Banking has announced it will build a branch in Liberty on Wallace Wilkinson Boulevard.
Citizens Bank expects a final decision on its Federal Reserve application to acquire the Middleburg bank in three weeks.
Burt Bellamy, president and CEO of Citizens Bank said, if the acquisition is approved, Farmers Deposit Bank will keep its name and locations in Liberty and Middleburg. They want local people to serve on board of directors and are hoping the staff will stay.
Bellamy said there are a lot of similarities between the Casey County and Breathitt County communities. Citizens Bank bills itself as a community bank.
It was established in 1962.
"A good bank (is) dedicated to the service of the little man and his financial needs," Ervine Turner, a co-founder of the bank, said on the bank's Web site.