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Company Description (as filed with the SEC)
On March 18, 2014, we completed the acquisition of Town Square Financial Corporation and its Kentucky-chartered commercial bank subsidiary, Town Square Bank. Town Square Financial Corporation operated three branches located in Boyd County, Kentucky and one branch located in Jessamine County, Kentucky. After estimated purchase accounting adjustments, we added $150.0 million in total assets, $126.1 million in total loans, $121.6 million in total deposits, and $18.1 million in shareholders’ equity. We issued 557,621 shares of Poage Bankshares, Inc. common stock and we paid $6.6 million in cash as merger consideration to stockholders of Town Square Financial Corporation. Recent Fiscal Year Date Change On August 29, 2013, the Board of Directors of Poage Bankshares amended its bylaws to change the fiscal year from September 30 to December 31 of each year. ... More ...