Financial Services Industry
Industry: Email Alert RSS FeedFirst Citizens Bank to Acquire Military Allotment Operation of PNC Bank, National Association
Kentucky Banker Magazine, Dec 2006
First Citizens Bank, Elizabethtown, a subsidiary of Farmers Capital Corporation, has signed a definitive agreement to acquire the Military Allotment operation of PNC Bank, National Association, a part of The PNC Financial Services Group, Inc.
Based in Elizabethtown, the operation specializes in the processing of data associated with military allotments and federal benefits payments. Its acquisition enhances First Citizens' strength in this niche market.
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The sale is expected to close in January. First Citizens has extended job offers to each of the operation's nine employees.
Copyright Kentucky Bankers Association Dec 2006
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