HSLC to acquire Lexington branches of German American Bank – WKTN
Move to expand HSLC’s Lexington footprint
Lexington, KY (June 4, 2021) – Home Savings and Loan Company of Kenton Ohio (HSLC) is a $ 148 million mutual banking company that recently pledged to grow its presence.
Today, it announced that it has reached an agreement to acquire the two Lexington, Kentucky branches of German American Bank, a wholly-owned banking subsidiary of German American Bancorp, Inc. The acquisition represents approximately $ 30.3 million in total deposits and $ 8.9 million in total loans as of April 30, 2021, subject to required federal and state bank agency regulatory approvals. Both sides expect the sale to be completed in the second half of 2021.
“We made the decision to open a loan production office in Lexington last summer. We are delighted to continue to grow in such a dynamic market, ”said Chris Kurt, President and CEO of HSLC. “HSLC has served our local community in Kenton, Ohio for over 133 years. We are delighted to have found an experienced team to lead our expansion / acquisition and will now have the opportunity to offer full banking service to our existing customers in the Lexington area as well as welcome Lexington employees and customers. of German American in our family.
HSLC was founded in February 1888 in Kenton, Ohio and has been a mainstay of that community ever since. HSLC will bring its desire to grow and support communities by providing ‘endless opportunities’ to the greater Lexington area, through conveniently located branches on Sir Barton Way in Hamburg and on Ruccio Way, just off Reynolds Road.
“I had the opportunity to join HSLC just over 2 years ago,” said Chris Jones, senior vice president and local resident of Bourbon County. “Having worked for several banks during my career, I can tell you that HSLC is a great organization. With a CEO who wants to grow the right way, not only by building equity for the organization, but by continually seeking to expand products and services to better serve our customers. I can’t wait to help unleash this vision in Lexington.
For more information or if you have any questions, please contact us at (859) 484-7030.