MainSource Bank Boosting Louisville Presence With Latest Acquisition

By Mike Perleberg File photo. (Greensburg, Ind.) - Greensburg-based MainSource Bank is increasing its presence in the bluegrass state. MainSource Financial Group, Inc. announced Monday that it is expanding its presence in the Louisville market with the acquisition of FCB Bancorp, Inc., the holding company for The First Capital Bank of Kentucky. “We are very pleased to announce the merger with First Capital Bank,” Archie M. Brown, Jr., President and Chief Executive Officer of MainSource, commented in a news release. “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.  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.” The cash and stock transaction is valued at about $57 million. The merger should be complete in the second quarter of 2017, pending regulatory approval and the approval of shareholders of FCB. FCB operates seven branches in greater Louisville, ranking ninth in market share with $390 million in deposits. Those branches will be rebranded with the MainSource Bank name. “MainSource Bank has demonstrated its community banking approach in the greater Louisville area for many years,” said H. David Hale, Chairman, President and Chief Executive Officer of FCB. “We feel strongly that their product offering and commitment to customer service will allow for a seamless transition for our customers. In addition, the added presence of MainSource in the area will create an even greater opportunity for the communities currently served by First Capital Bank.” FCB is just the latest acquisition for rapidly-growing MainSource Bank. In 2015, the bank acquired Cheviot Savings Bank and five branches of Old National Bank. West Harrison-based Merchants Bank & Trust was acquired by MainSource in 2014. RELATED STORIES: MainSource Bank Opens New State Of The Art Branch In Aurora MainSource Bank Acquiring Cheviot Savings Bank MainSource Buys Up More Indiana Banks MainSource, Merchants Banks Complete Merger