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FFKY > SEC Filings for FFKY > Form 8-K on 1-Nov-2012All Recent SEC Filings

Show all filings for FIRST FINANCIAL SERVICE CORP

Form 8-K for FIRST FINANCIAL SERVICE CORP


1-Nov-2012

Entry into a Material Definitive Agreement


Item 5.01 Entry into Material Definitive Agreement

On October 31, 2012, First Federal Savings Bank of Elizabethtown, Inc. ("First Federal"), the Company's banking subsidiary, and First Security Bank of Owensboro, Inc., the banking subsidiary of First Security, Inc. ("First Security"), headquartered in Owensboro, Kentucky, agreed to extend the termination date of their Branch Purchase Agreement (the "Agreement") from October 31, 2012 to November 14, 2012. The Agreement provides for the sale of First Federal's four retail banking offices in Louisville, Kentucky to First Security.

The sale of First Federal's Louisville branches is subject to First Security obtaining regulatory approvals, raising sufficient capital to meet any condition for such regulatory approval, and other customary closing conditions. The Agreement was described in, and attached as an exhibit to, the Company's Current Report on Form 8-K filed May 21, 2012.

The extension is intended to give the parties an additional two weeks to attempt to negotiate an amendment to the agreement that gives First Security additional time to complete its capital raise and meet the closing conditions on terms satisfactory to First Federal.

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