Citizens First Corporation Advises Stockholders to Take No Action in Response to Porter Bancorp's Offer
October 23 2009 - 3:53PM
PR Newswire (US)
BOWLING GREEN, Ky., Oct. 23 /PRNewswire-FirstCall/ -- Citizens
First Corporation (NASDAQ:CZFC) today recommended that Citizens
First's stockholders take no action at this time in response to the
announcement by Porter Bancorp, Inc. (NASDAQ:PBIB) that it has made
an unsolicited conditional tender offer to acquire Citizens First's
outstanding shares of common stock. Consistent with its fiduciary
duties and in consultation with its independent financial and legal
advisors, Citizens First's board will review and consider the
offer, and within 10 business days, will advise Citizens First's
stockholders of the board's position regarding the offer as well as
its reasons for that position. Chartwell Capital Ltd. is acting as
financial advisor to Citizens First and Wyatt, Tarrant & Combs,
LLP is acting as legal advisor. About Citizens First Corporation
Citizens First Corporation is a bank holding company headquartered
in Bowling Green, Kentucky and established in 1999. The Company has
branch offices located in Barren, Hart, Simpson and Warren Counties
in Kentucky. Note to Security Holders Investors are urged to read
Citizens First Corporation's Solicitation/Recommendation Statement
on Schedule 14D-9 when it becomes available as it will contain
important information. Security holders may obtain a free copy of
the Solicitation/Recommendation Statement (when it becomes
available), as well as any other public filings made from time to
time by Citizens First with the U.S. Securities and Exchange
Commission in connection with the tender offer by Porter Bancorp
Inc., free of charge at the SEC's website at http://www.sec.gov/.
Forward-Looking Statements This press release contains
forward-looking statements of Citizens First that are not
historical facts. These forward-looking statements may be
identified by words such as "anticipate," "expect," "suggest,"
"plan," "believe," "intend," "estimate," "target," "project,"
"could," "should," "may," "will," "would," "continue," "forecast,"
and other similar expressions. Each of these forward-looking
statements involves risks and uncertainties. Actual results may
differ materially from those, express or implied, in these
forward-looking statements. Various factors may cause differences
between current expectations and actual results, including risks
and uncertainties associated with Porter Bancorp's tender offer.
Other factors that may cause Citizens First's actual results to
differ materially from those expressed or implied in the
forward-looking statements in this press release are discussed in
Citizens First's filings with the Securities and Exchange
Commission (SEC). Copies of Citizens First's filings with the SEC
may be obtained at the SEC's website at http://www.sec.gov/.
Citizens First expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in Citizens
First's expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are based
for any reason, except as required by law, even as new information
becomes available or other events occur in the future. All
forward-looking statements in this press release are qualified in
their entirety by this cautionary statement. DATASOURCE: Citizens
First Corporation CONTACT: Todd Kanipe, Chief Executive Officer,
+1-270-393-0700 Web Site: http://www.citizensfirstbank.com/
Copyright