GREENSBURG, Ind. — Greensburg-based MainSource Financial Group has announced plans to purchase Louisville-based FCB Bancorp, Inc. for $57 million. The transaction is expected to be completed during the second quarter of 2017. FCB Bancorp is the parent company of The First Capital Bank of Kentucky.
The First Capital Bank will operate as subsidiary when the deal is finalized before a complete merger with MainSource. FCB shareholders are scheduled to approve the transaction soon.
“This combination significantly moves MainSource forward on our plan to have full branch coverage in our three core metropolitan markets of Indianapolis, Cincinnati and Louisville,” said Archie Brown, chief executive officer of MainSource. “Our commitment to Louisville and the surrounding areas continues to be strong, and we are eager to welcome the customers and employees of First Capital into MainSource.”
Under terms of the agreement, FCB shareholders will receive .9 shares of MainSource common stock and $7 cash for each share of FCB common stock.
The deal is subject to regulatory approvals.
