Porter Bancorp Expands to Bowling Green, Kentucky Market
March 05 2007 - 7:00AM
Business Wire
Porter Bancorp, Inc. (NASDAQ: PBIB) announced today that PBI�Bank
plans to open a loan production office in Bowling Green, Kentucky.
The Company also announced that it has hired a Bowling Green based
team of bankers to staff the office. The Bowling�Green office is
expected to open this month. �Bowling Green is one of the fastest
growing markets in the state and is contiguous to our existing
markets,� noted Maria L. Bouvette, President and CEO of Porter
Bancorp, Inc. �We are excited about launching our Bowling Green
office with an experienced staff of bank executives who are based
in Bowling�Green. �Kirk P. Pierce will join PBI Bank as Community
President of Warren County and will head our new loan production
office. He previously served as community president of a competing
institution and has a strong following in the market. Brent Fackler
will also join PBI Bank as a Senior Vice President. He previously
served as a vice president of a competing institution and also has
a strong following in the market. We expect to support operations
in Bowling Green by leveraging our branch in nearby Glasgow,
Kentucky. Longer term, we plan to expand Bowling Green into a full
service banking office. �The addition of the Bowling Green market
follows our strategic plans that are focused on the faster growing
markets on the I-65 corridor. The Bowling Green office will fill a
major piece of our service map and is complementary with our
surrounding markets. With the addition of Bowling Green in Warren
County, we will have six contiguous counties in the immediate area,
providing us with additional leverage for building our loan and
deposit network,� concluded Ms. Bouvette. About Porter Bancorp,
Inc. Porter Bancorp, Inc. is a bank holding company headquartered
in Louisville, Kentucky. It is the seventh largest independent
banking organization based on total assets domiciled in the
Commonwealth of Kentucky. Through Porter�s subsidiary PBI Bank, it
operates banking offices in Louisville and 12 other Kentucky
communities located along central Kentucky�s Interstate 65
corridor, which runs through Louisville and central Kentucky, and
connects Chicago and Indianapolis to Nashville and Atlanta.
Porter�Bancorp�s common stock is traded on the Nasdaq Global Market
under the symbol �PBIB.� Forward-Looking Statement Statements in
this press release relating to Porter Bancorp�s plans, objectives,
expectations or�future performance are forward-looking statements
within the meaning of the Private Securities Litigation�Reform Act
of 1995. These forward-looking statements are based on management�s
current expectations. Porter Bancorp�s actual results in future
periods may differ materially from those currently expected due to
various risks and uncertainties, including those discussed in the
�Risk Factors� section of the Company�s Form S-1 Registration
Statement (Reg. No. 333-133198) and subsequent periodic reports
filed with the Securities and Exchange Commission. The
forward-looking statements in this press release are made as of the
date of the release and Porter Bancorp does not assume any
responsibility to update these statements. PBIB-G
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