CKF shareholders approve merger
CKF shareholders have approved a merger with Kentucky First.
Shareholders at CKF Bancorp have approved the proposed combination between the firm, Central Kentucky Federal Savings and Kentucky First, paving the way for merger and acquisition consultants to help the companies finalise the deal.
At a special meeting held by CKF, 98 per cent of votes cast approved the tie-up, with 83 per cent of all eligible shares taking part in the poll.
Regulatory approval and other customary conditions must be completed before the merger can be finalised.
Chief executive officer and chairman of Kentucky First Tony Whitaker said: "We believe that our new association with the staff, officers, directors, and customers of Central Kentucky Federal will be tremendously beneficial to our company."
He appreciated the support of CKF's shareholders and revealed the transaction should enable his brand to add the "fine communities" of Lancaster and Danville to its service areas.
CKF is Central Kentucky Federal Saving Bank's holding company, which was first formed in 1886 and is part of Cincinnati's Federal Home Loan Bank.
Posted by Edel Quinn
Source: Kentucky First Federal Bancorp press release, July 5th