Articles and Publications
ETFCU Buys American Founders Bank
Evansville, Ind. (March 12, 2018) – Evansville Teachers Federal Credit Union (ETFCU) has announced their intention to acquire American Founders Bank (AFB) of Louisville, Ky. The acquisition will allow ETFCU, a $1.4 billion sized Federally insured entity to grow their position in the Louisville, Ky. market as well as enhance their mortgage lending and deposit growth in the area.
Bill Schirmer, ETFCU president and CEO said that “in conjunction with our strategic business plan, we have been seeking to add several new branch offices in the Louisville market. We currently have two mortgage loan...
Bank of Lexington, First Breckinridge Merger
Merger announcement - November 15, 2017
It was announced that the Bancorp of Lexington, Inc. and its subsidiary bank, Bank of Lexington has agreed to a sale with First Breckinridge Bancshares, a multi -bank holding company headquartered in Irvington, KY. and Meade Bancorp Inc. its lead bank, as reported by SNL and S & P Global Market Intelligence.
The purchase price or terms of the deal were not disclosed, however SNL stated that valuations for bank and thrift targets in the Midwest between November of 2016 and November of 2017 averaged 161.04% of book, 166.67% of tangible book and had a...
Monticello Harlan Merger
Monticello Bankshares, the Holding Company for the Monticello Banking Company, Monticello KY has acquired Banco Harlan, the Holding Company for the Bank of Harlan, in Harlan, KY. Subject to Shareholder and Regulatory approval, the recent announcement would result in a $700 million bank Holding Company with 16 offices located in 8 Kentucky counties in South Central and Eastern Kentucky.
The deal is a combination of cash and stock. Cash totaling $8,571,171 along with 284,002 shares will be paid for the company. Certain non-eligible shareholders of Banco Harlan will receive $379.09 per share...
KY Community Banks Gain Share
KENTUCKY Headquartered Community Banks Dominate the Deposit Growth for the State over the Super Regionals
The FDIC recently released its latest figures on bank deposits and market share as of June 30, 2016. Banks are required to provide regulators with branch deposit numbers for their offices as of June 30 each year.
Those numbers indicate that there are 190 banks and 1,689 bank offices in the state with total deposits of $76,529,871,000. The number of banks declined by six and the number of offices has declined by 12 from the prior year however deposits have increased a total of $1.8...
ETFCU First Liberty Merger
TRANSACTION ANNOUNCEMENT
ETFCU ACQUIRES FIRST LIBERTY FINANCIAL GROUP
Milynco Financial is pleased to announce that Evansville Teachers Federal Credit Union has acquired First Liberty Financial Group.
Evansville Teachers Federal Credit Union is a $1.3 Billion asset credit union headquartered in Evansville, Indiana with 15 offices located in Evansville, Newburgh, Mt. Vernon, Princeton and Vincennes, Indiana and Henderson and Owensboro, Kentucky.
First Liberty Financial Group operating under the name of First Liberty Financial Mortgage is a mortgage company headquartered in Louisville, KY...
Kentucky Bank's Performance - 2016
It was a solid year of performance for the banks in Kentucky. When we compare Kentucky Banks with all other banks nationwide there are few areas that stand out.
Kentucky Banks added more employees on a relative percentage basis than the Nation’s Banks. Other areas of note include loan growth which outpaced the rest of the nation. Deposit Growth and Asset size outpaced the Kentucky banks but not by a large margin.
Kentucky Banks have historically had better loan yields and margins than their counterparts and this past year was no exception. Additionally, charge offs were one third of the...
Indiana Bank's Performance - 2016
It was a solid year of performance for the banks in Indiana. When we compare Indiana Banks with all other banks nationwide there are few areas that stand out.
Indiana Banks outperformed the Nation’s Banks with substantial growth in assets, loans and deposits. Yields on Assets and Margins were higher while the non-interest income was 50 points behind other banks in the country.
Loan quality continued to improve and maintained much stronger numbers than banks nationwide. Profitability was solid at or near the same numbers as other banks across the nation. Loans to assets were better partially...
Hiring Top Talent
The “Art and Science” of attracting and hiring Top Talent
By M. Lynn Cooper, President, Milynco Financial and Co-founder and Partner, The Newburgh Group
Every organization with whom I have been associated and worked desired to locate and hire the best talent available at the best price. So how is this accomplished?
I often recruited top talent to come and work with me for less money than they were making at the time. Why? How? The most important factor was that they wanted to work where they felt appreciated, challenged and could see opportunity for career growth. They also wanted to work...
A Look Back 20 Years
Richard Grasso, Chairman of the New York Stock Exchange (third from left pointing finger) and M. Lynn Cooper, (second from right) Executive Vice President,
along with other Executive Officers and Directors of CNB Bancshares and Citizens Bank in Evansville, participate in ringing the opening bell of the New York Stock Exchange on Wall Street, on the first day of trading for BNK (CNB's trading symbol). Wednesday, April 10, 1996.
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