A Danville banking mainstay has joined with a company that owns financial institutions in Hazard and Frankfort, subject to regulatory approval.
A press release Thursday said CKF Bancorp, the holding company for the Danville-based Central Kentucky Federal Savings Bank, will merge with Kentucky First Federal Bancorp, which owns First Federal Savings and Loan of Hazard and First Federal Savings Bank of Frankfort.
“As a representative of community banks with two of the longest tenures of continuous service to their respective communities in the state (Danville since 1886 and Lancaster since 1873), I believe this merger will enhance our tradition and provide additional opportunities for our customers,” William H. Johnson, president and chief executive officer of CKF Bancorp, said.
“Our staff, management, and board are looking forward to serving our existing customers and attracting new ones as well.”
Johnson said Central Kentucky Federal has about 1,600 loan customers and 3,500-4,000 savings, checking and certificate of deposit customers each representing over $100 million in business.