Exhibit 99.1
FOR IMMEDIATE RELEASE |
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June 26, 2008 | For More Information Contact: |
| B. Keith Johnson |
| Chief Executive Officer |
| First Financial Service Corporation |
| (270) 765-2131 |
Elizabethtown, Kentucky, June 26, 2008 – First Financial Service Corporation (the Company, Nasdaq: FFKY) today announced it has consummated the acquisition of FSB Bancshares, Inc. and its wholly owned subsidiary, The Farmers State Bank located in Southern Indiana. The Farmers State Bank is approximately $63 million in total assets and $52 million in total deposits. Approximately 75% of the total deposits are non-time deposits. The Farmers State Bank has offices in Harrison and Floyd County, Indiana. These counties are adjacent to First Financial Service Corporation’s Kentucky counties of Meade and Jefferson. The branches of The Farmers State Bank will become branches of First Financial Service Corporation’s wholly owned subsidiary First Federal Savings Bank.
First Financial Service Corporation is the parent bank holding company of First Federal Savings Bank of Elizabethtown, which was chartered in 1923. The Bank serves the needs and caters to the economic strengths of the local communities in which it operates and strives to provide a high level of personal and professional customer service. The Bank offers a variety of financial services to its retail and commercial banking customers. These services include personal and corporate banking services, and personal investment financial counseling services. Today, the Bank serves Central Kentucky and Southern Indiana through its 19 full-service banking centers and a commercial private banking center.
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties that could cause actual results to differ materially from historical income and those presently anticipated or projected. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date of this release. Such risks and uncertainties include those detailed in the Company’s filings with the Securities and Exchange Commission, risks of adversely changing results of operations, risks related to the Company’s acquisition strategy, risk of loans and investments, including the effect of the change of the local economic conditions, risks associated with the adverse effects of the changes in interest rates, and competition for the Company’s customers by other providers of financial services, all of which are difficult to predict and many of which are beyond the control of the Company.
First Financial Service Corporation’s stock is traded on the Nasdaq Global Market under the symbol “FFKY.” Market makers for the stock are:
Keefe, Bruyette & Woods, Inc. | FTN Midwest Securities |
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J.J.B. Hilliard, W.L. Lyons Company, Inc. | Howe Barnes Investments, Inc. |
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Stifel Nicolaus & Company | Knight Securities, LP |
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