Move will 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 has recently made a commitment to growing its footprint.
Today, it announced that it has entered into an Agreement to acquire the two Lexington, Kentucky branches of German American Bank, a wholly-owned banking subsidiary of German American Bancorp, Inc. This acquisition represents approximately $30.3 million in total deposits and $8.9 million in total loans as of April 30, 2021, subject to regulatory approvals from the required federal and state banking agencies. Both parties expect the sale to be consummated in the second half of 2021.
“We made the decision to open a Loan Production Office in Lexington last summer. We are excited to continue our growth in such a dynamic market,” said Chris Kurt, President and Chief Executive Officer of HSLC. “HSLC has served our local community in Kenton, Ohio for over 133 years. We are thrilled to have found an experienced team to lead our expansion/acquisition and will now have the opportunity to offer full service banking to our existing Lexington area customers as well as welcoming German American’s Lexington employees and customers into our family.”
HSLC was founded in February of 1888 in Kenton, Ohio and has been a mainstay in that community ever since. HSLC will bring its desire to grow, and support communities by providing “Infinite Opportunities” to the greater Lexington area, through conveniently located branches on Sir Barton Way in Hamburg and on Ruccio Way, just off of Reynolds Road.
“I had the opportunity to join HSLC just over 2 years ago,” said Chris Jones, Senior Vice President and local Bourbon County resident. “Having worked for several banks over my career, I can tell you, HSLC is a tremendous organization. With a CEO that wants to grow the right way, not only creating equity for the organization, but continuously looking to expand products and services to serve our customers better. I cannot wait to help unleash that vision in Lexington.”
For more information or if you have questions, please contact us at (859) 484-7030.